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Uncertainty Teory in Islamic Finance

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

Uncertainty is a condition in which there is a possibility of more than one outcome, but the probability of each outcome is small.

a)

True

b)

False

2.

Uncertainty: The probability of the outcome is unknown

Risk: The probability of the outcome is known

a)

False

b)

True

3.

According to the term Fiqh Mu'amalat, taghrir means doing something blindly without sufficient knowledge, or taking one's own risk from an action that contains a risk, without knowing exactly what the consequences will be, or entering a risk arena without thinking about the consequences.

a)

False

b)

True

4.

In a situation of uncertainty, there is more than one possible outcome or event with one probability

a)

False

b)

True

5.

Natural Certainty Contracts are contracts in business that provide certainty of payment, both in terms of amount (amount) and time. The cash flow can be predicted with relative certainty, because it has been agreed by both parties who transact at the beginning of the contract

a)

True

b)

False

6.

In a situation of certainty, only one outcome or event will occur with one probability

a)

True

b)

False

7.

Natural Certainty Contracts : Purchase and sale contracts, Wages, Rent.

a)

False

b)

True

8.

Natural Uncertainty Contracts are contracts in business that do not provide certainty of return (in terms of quantity and time). The rate of return can be positive, negative, or zero

a)

True

b)

False

9.

Natural Uncertainty Contracts: Investment contracts, because naturally they do not offer a fixed and definite return, they are not fixed and predetermined.

a)

True

b)

False

10.

Zero-sum is a situation in game theory in which one person's gain is equivalent to another's loss, so the net change in wealth or benefit is zero

a)

True

b)

False