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WorksheetsIslamic finance_general
Total questions: 20
Worksheet time: 10mins
Islamic finance is strongly _________oriented
profit
money
equity
interest
A "sukuk" is basically a Shariah-compliant
loan
profit
bank cheque
investment certificate
"Takaful" is basically a Shariah - compliant
loan
insurance
investment
ownership
Which from the following is/are NOT permitted under Islamic Financial Principles
I. Interest
II. Short selling
III. Non-asset backed securities
I only
I and II
I and III
I, II, and III
A type of partnership where one party offers funds while other gives expertise and management is
Murabaha
Musharaka
Ijarah
Mudaraba
The Islamic financial system prohibits transaction featuring
Extreme uncertainties resulting from speculation and gambling
Sharing of profit and risk of loss
Partnership agreements
Trading for profit
Are Islamic banking products for Muslims only
For Muslims and those non-Muslims who are allowed by Shariah scholars
No
Yes
For muslims and those who convert to muslims
Wakalah is used by Islamic banks mostly for
Consumer loans
Sales through documents
Fund management through agency based documents
Guaranteeing payments
Which of the following is a type of investing instrument?
Musharakah
Musavvama
Kafalah
Qimar
Banking may broadly be described as the business of providing
Investment services
Financial services
Loans and mortgages
Foreign exchange services
Shariah provides a network of ethical and moral rules of behavior for
Potential buyers
Travelling merchants
All participants in market
Muslims only
Under Salam contract goods are
Not delivered until payment is made
Taxed before delivery
Purchased for delivery in future
Delivered for payment later
The term Kafala in Islamic commercial law refers to
Finance
Guarantee
Purchase
Sharing losses
Find the asset-based financial instruments:
Salam, Murabaha, Istisna', Ijarah
Musharakah and Murabaha
Salam, Murabaha, Mudaraba, Istisna'
Salam, Mudaraba, Istisna'
________ is a contract whereby the purchaser pays the price in advance and the delivery of subject matter is postponed to a specified time in future.
Istisna'
Salam
Ijarah
Qard ul-hassan
Tabarru is...
An arrangement based on mutual assistance
Contract of charity or donation
A common fund contributed by a takaful participants
Insurance contract
Find types of Takaful.
Musharaka, Wakala, Hybrid, Waqf
Mudaraba, Wakala, Hybrid, Waqf
Mudaraba, Kafala, Hybrid, Waqf
Murabaha, Wakala, Hybrid, Waqf
Murabaha is...
Partnership agreements
Trade-based Agreements
Commission payment agreements
Loan agreement
In the ____________ model of Takaful financial losses are required to be covered only by the participants
Wakala
Mudaraba
Murabaha
Waqf
A customer only uses the asset during a temporary time.
It happens in a ...
Loan
Sale
Lease
