NEW
Font size
WorksheetsTakaful Knowledge
Total questions: 11
Worksheet time: 3mins
Which definition is the most accurate about takaful?
A system based on mutual co-operation, responsibility, assurance, protection and assistance between groups of participants.
A contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses.
Which one is the main regulatory body of Takaful?
What are the main sources of Takaful Law?
IFSA 2013
Takaful Act 1984
TOF 2019
Al-Quran and As-Sunnah
There is a similarity between Takaful and Conventional Insurance. Choose the correct one.
Transfer of risk
Based on mutual cooperation
Provide protection in the event of unforeseen events and
contributions must be made to start the coverage
Claims paid from participants’ fund
All these elements include in conventional insurance except
Al-Gharar
Hibah
Riba’
Al-Maysir
There are four types of takaful business models. All of them are the types of takaful business models, except
Wakalah
Hybrid
Mudharabah
Cooperative
Tawarru’
· Provide short-term mutual financial assistant
· Contribution usually paid on annual basis
· Contribution is wholly on the basis of Tabarru’
The features above are about ...
General takaful
Family takaful
All of them are general takaful product, except
Which definition is correct for Family takaful?
A long-term saving and investment instrument which provide a mutual guarantee of financial assistance to participants in the event of death to the participant or any defined misfortunes
Contract of joint guarantee, short term (usually covers a period of one year) in the event of material loss/damage/bodily injury consequent upon the happening of a peril, inflicted upon properties, material belongings or mankind
Regular savings for a definitive period with the view of creating a retirement fund for old age.
This statement refers to ....
Family takaful
General takaful
· Syariah Advisory Council (SAC)
· Based On Mutual Co-Operation and Tabarruʼ
· Profit Will Be Shared Among Operator (Company) And Participant on Mudharabah Basis or Performance Investment Fee
These features refer to
Conventional Insurance
Takaful
