Bai’ al-Istijrar Quiz

What is Bai’ al-Istijrar?

• Sale contract involving deferred payment

• A contract of repeated purchase without initial pricing agreement

• Loan-based Islamic contract

• Partnership contract

Which of the following is a key feature of Bai’ al-Istijrar?

• Immediate lump sum payment

• Repeated supply of goods without prior pricing agreement

• Profit-sharing ratio

• No delivery of goods

Which condition is required for the validity of Bai’ al-Istijrar?

• Goods must be intangible

• There must be clear agreement on the price at the time of each transaction

• The contract must be based on ijarah

• The goods must be delivered after full payment

According to some jurists, Bai’ al-Istijrar is valid when...

• Payment is made after one year

• There is mutual understanding and customary practice

• The price is fixed retroactively

• Goods are not delivered physically

Which school of thought allows Bai’ al-Istijrar based on urf (custom)?

• Maliki

• Shafi’i

• Hanbali

• Hanafi

Bai’ al-Mu’atah refers to:

• Credit-based sale

• Sale through offer and acceptance without spoken words

• Loan given in kind

• Sale with delayed delivery

Which best describes the application of Bai’ al-Istijrar in modern Islamic banking?

• Profit-sharing investment

• Repeated supply arrangements like utilities or fuel supply

• Foreign currency trading

• Short-term equity financing

What is Bai’ al-Dayn?

• Sale of gold for silver

• Sale of existing debt

• Loan repayment contract

• Partnership-based sale

In Islamic law, a debt (dayn) is considered:

• Tangible and immediately transferable

• A physical asset

• A liability that can be sold under strict conditions

• Equivalent to cash in all aspects

Which of the following is a type of Bai’ al-Dayn?

• Forward sale

• Profit-sharing contract

• Lease agreement

• Partnership contract