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ISLAMIC FINANCE SYSTEM

Total questions: 14

Worksheet time: 28mins

Name
Class
Date
1.

What is the meaning of Riba

a)

Uncertainty

b)

Gambling

c)

Ownership

d)

Exploitation

2.

WHAT ARE PROHIBITION OF SHARIAH

a)

ZAKAT

b)

RIBA

c)

LOANS

d)

INTEREST RATE

3.

Which contract's structure is a rental based?

a)

Murabaha

b)

Musharaka

c)

Ijarah

d)

Mudaraba

4.

In which contract the relationship between Islamic bank and customer is accepted as Lessee & Lessor

a)

Mudaraba

b)

Wakala

c)

Ijarah

d)

Murabaha

5.

A "sukuk" is basically a Shariah-compliant

a)

loan

b)

profit

c)

bank cheque

d)

investment certificate

6.

"Takaful" is basically a Shariah - compliant

a)

loan

b)

insurance

c)

investment

d)

ownership

7.

A type of partnership where one party offers funds while other gives expertise and management is

a)

Murabaha

b)

Musharaka

c)

Ijarah

d)

Mudaraba

8.

The Islamic financial system prohibits transaction featuring

a)

Extreme uncertainties resulting from speculation and gambling

b)

Sharing of profit and risk of loss

c)

Partnership agreements

d)

Trading for profit

9.

Are Islamic banking products for Muslims only

a)

For Muslims and those non-Muslims who are allowed by Shariah scholars

b)

No

c)

Yes

d)

For muslims and those who convert to muslims

10.

Identify Islamic Bank from the list below

a)

CIMB Bank

b)

RHB Bank

c)

Tabung Haji

d)

Bank Islam Berhad

11.

what is the first islamic financial institution in malaysia

a)

tabung haji

b)

bank islam

c)

takaful ikhlas

d)

bank rakyat

12.

Gharar means uncertainty.

a)

True

b)

False

13.

All products of Islamic banks need to get the approval from Shariah Advisory Council of BNM

a)

True

b)

False

14.

Which are two types of common Islamic capital market product?

a)

Sukuk

b)

Mutual Fund

c)

Bitcoin