WorksheetsQUIZ 2 (ISLAMIC FINANCIAL PLANNING)
Total questions: 20
Worksheet time: 10mins
Wealth distribution seeks to make proper planning so that your accumulated wealth can be managed and distributed according to your wishes. Which contract can be categorise as voluntary act whereby Muslim can give alms for the cause of Allah?
Sale contract
Waqf
Kafalah
Lease contarct
Which is the CORRECT steps for charitable giving plan?
Decide how the gift will be made > Choose what to give > Determine when to give
Determine when to give > Choose what to give > Decide how the gift will be made
Choose what to give > Determine when to give > Decide how the gift will be made
Determine when to give > Decide how the gift will be made > Choose what to give
The word ......................... is sometimes used to refer to obligatory of zakat.
Sadaqah
Hibah
Infaq
Kafalah
“And there was a share in their wealth for the beggar and the deprived”. This verse of holy Quran refer to ...............................
Waqf
Zakat
Hibah
Sadaqah
Waqf played a significant role through out Islamic history towards enhancing the social and economic status of the Muslim societies. The position of Waqf is the same category with ..........................
Tabarru'
Mu'awadhat
Commercial contract
Sale contract
The following are the pillars of Waqf EXCEPT:
al-waqif
al-mawquf
al-wuquf
al-mawquf ‘alaih
"The one who is free, matured (baligh), sane or fully responsible (‘aqil), sincere and legally entitled to the wealth". This statement refer to the ..........................
Conditions of the recipient
Conditions of the waqf giver
Conditions of the wealth/property
Conditions of waqf statement
"I endowed all of my wealth to my son and grandson and to my entire heritage forever". This statement refer to .........................
Waqf Khairi
Waqf Ahli
Waqf Am
Waqf Khas
When the Nazir Waqf has to govern the land in any form of development that could provide benefits to the public, it is known as ................................
General Waqf
Special Waqf
Family Waqf
Charitable Waqf
The following are the importance of Waqf to the public EXCEPT:
Waqf purifies one’s heart and prevent selfishness.
Waqf reduces the gap between the rich and the poor.
Waqf improves social development of the ummah.
Waqf is conventional economic instrument.
....................... is a gift during the life of the donee or the donor with a condition that the property is returned after the death of the hibah recipient.
Sadaqah
Hibah Umra
Hibah
Hibah Ruqba
................... is effective immediately (in one’s lifetime), whilst .................... is effective after one’s death.
Wasiyyah, Hibah
Sadaqah, Hibah
Waqf, Hibah
Hibah, Wasiyyah
Retirement planning is important because everyone want to live a comfortable standard of living during retirement. The following are the reasons of unsound retirement planning EXCEPT:
Starting too late
Create emergency plan
Put away too little
Invest too conservatively
................................. are defined as funds contributed by members where upon retirement, the total contribution paid by the members and their employers including the accumulated interest will be given to members.
Provident fund
Takaful fund
ASB fund
Tabung Haji
Contribution to EPF is a mandatory contribution and it is credited to members’ individual accounts. What is the total percentage of contribution in EPF?
11%
13%
24%
23%
The Simpanan Shariah is managed and invested based on ......................... contract and the dividen rates will be based on ............................. of Shariah compliant investments.
Mudharabah, pre-determine rate
Wakalah, pre-determine rate
Wakalah, actual performance
Mudharabah, actual performance
For the retirement purposes of EPF account, ................... of the monthly contributions will be credited into this account.
30%
25%
60%
70%
EPF also provide various withdrawals scheme to its member whether from account 1 or account 2. The following are the withdrawals scheme offered EXCEPT:
Education
Death withdrawal scheme
Medical
Redeeming car loan
Encik Lutfi bought a house costing RM200,000 and obtained a housing loan of RM170,000. His balance in Account 2 is RM60,000. The amount that he can withdraw is ........................
RM 20,000
RM 40,000
RM 50,000
RM 30,000
........................... provides coverage under two schemes namely Employment Injury Insurance Scheme and Invalidity Pension Scheme.
EPF
SOCSO
JPA
PRS
