Let's Get It Right! [Q1]
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Other
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Professional Development
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Practice Problem
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Medium
RUSNI HASSAN
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the sources of funds for Islamic banks?
Deposits
Investment Accounts
Shareholders’ funds
All of above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Shariah Committee responsible for...?
Ensure effective management of SNCs
Provide objective and sound Shariah decision
Ensure institutionalisation of a robust Shariah Governance Framework
Provide operational support
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In Deposit Product, Customer acts as a _______ ?
Depositor
Investor
Borrower
Buyer
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the most suitable Shariah contract for Islamic deposit?
Ijarah
Rahn
Qard
Wa'd
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All these features of Current account with Qard contract are correct, EXCEPT:
It is a loan contract between customer/depositor and bank/borrower
Bank does not guarantee the return of loan principal
Deposited amount is the loan principal
Customer can demand the return of the deposited fund/loan amount at any time
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
These Shariah contracts are suitable for saving accounts, EXCEPT:
Tawarruq
Qard
Commodity Murabahah
Musyarakah
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT CORRECT about Term Deposit Accounts?
It is a deposit product with a fixed term
A fixed placement period of 1 month up to 60 months
The bank provides capital guarantee for term deposit products
Normally attached with a variable profit rate
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