Islamic Financial Planning Quiz

What is the primary goal of conventional financial planning?

• Maximizing profits at any cost

• Assessing current finances and planning to achieve goals

• Avoiding all forms of savings

• Investing only in high-risk assets

Islamic financial planning must adhere to:

• Stock market trends

• Shariah guidelines

• Government tax policies

• Cryptocurrency fluctuations

In Islam, wealth is considered:

• A personal possession with no obligations

• A trust (Amanah) from Allah

• Only for the wealthy

• Unrelated to spirituality

What is 'Al-Falah' in Islamic finance?

• Worldly success only

• Success in this life and the hereafter

• A type of investment

• A form of charity

Which Quranic verse commands Muslims to enter Islam wholeheartedly?

• Al-Fatihah:1

• Al-Baqarah:208

• Al-Ikhlas:1

• Al-Dhariyat:58

Zakat is obligatory to:

• Increase personal luxury

• Purify wealth and help the needy

• Avoid taxes

• Fund speculative investments

Takaful is the Islamic alternative to:

• Gambling

• Conventional insurance

• Interest-based loans

• Stock trading

The Islamic inheritance law is called:

• Riba

• Faraid

• Gharar

• Takaful

What is 'Israf'?

• Earning halal income

• Wasteful spending (extravagance)

• A type of Zakat

• Islamic banking

The first step in Islamic financial planning is:

• Investing immediately

• Establishing the client-planner relationship

• Ignoring client goals

• Skipping documentation