wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Sukuk

Total questions: 60

Worksheet time: 46mins

Name
Class
Date
1.

Sukuk represent the debt of the issuer

a)

True

b)

False

2.

" Act as issuer of sukuk as well as trustee"

The statement above refers to:

a)

Originator

b)

Special purpose vehicle company

c)

Investors

3.

Which of the following is partnership - based sukuk?

a)

Sukuk Mudharabah

b)

Sukuk Murabahah

c)

Sukuk Istithmar

d)

Sukuk Wakalah

4.

The period of the rental payment reflects the maturity of the sukuk.


Identify the sukuk type above.

a)

Sukuk Murabahah

b)

Sukuk Istithmar

c)

Sukuk Ijarah

d)

Sukuk Murabahah

e)

Sukuk Musyarakah

5.

The underlying asset is portfolio of financial asset.

a)

Sukuk Ijarah

b)

Sukuk Murabahah

c)

Sukuk Istithmar

d)

Sukuk Mudharabah

e)

Sukuk Musyarakah

6.

SPV uses the money from sukuk issuance to be contributed in the partnership agreement with the originator.

a)

Sukuk Ijarah

b)

Sukuk Musyarakah

c)

Sukuk Mudharabah

d)

Sukuk Murabahah

e)

Sukuk Istithmar

7.

The proceeds from the sukuk issuance will be used by the SPV to purchase the identified commodity from the supplier.

a)

Sukuk Ijarah

b)

Sukuk Musyarakah

c)

Sukuk Mudharabah

d)

Sukuk Murabahah

e)

Sukuk Istithmar

8.

Return to investors derived from the income generated by the sukuk asset, in which the income will be shared between SPV and originator based on pre agreed ratio.

a)

Sukuk Ijarah

b)

Sukuk Musyarakah

c)

Sukuk Mudharabah

d)

Sukuk Murabahah

e)

Sukuk Istithmar

9.

The relationship between SPV and originator is principal and agent.

a)

Sukuk Ijarah

b)

Sukuk Musyarakah

c)

Sukuk Mudharabah

d)

Sukuk Murabahah

e)

Sukuk Istithmar

10.

Originator will get the financing needed when SPV sell the asset to originator at mark up price, on deferred payment basis.

a)

Sukuk Ijarah

b)

Sukuk Musyarakah

c)

Sukuk Mudharabah

d)

Sukuk Murabahah

e)

Sukuk Istithmar

11.

Losses generated by the sukuk asset will be shared between SPV and originator based on the capital contribution ratio.

a)

Sukuk Ijarah

b)

Sukuk Musyarakah

c)

Sukuk Mudharabah

d)

Sukuk Murabahah

e)

Sukuk Istithmar

12.

At maturity, originator will buy back the portfolio of financial assets using the money from the reserve account, if any.

a)

Sukuk Ijarah

b)

Sukuk Musyarakah

c)

Sukuk Mudharabah

d)

Sukuk Murabahah

e)

Sukuk Istithmar

13.

Originator will lease back the asset throughout the sukuk tenor.

a)

Sukuk Ijarah

b)

Sukuk Musyarakah

c)

Sukuk Mudharabah

d)

Sukuk Murabahah

e)

Sukuk Istithmar

14.

At maturity, SPV will sell the investors’ shares in the sukuk asset to the Originator.

a)

Sukuk Ijarah

b)

Sukuk Musyarakah

c)

Sukuk Mudharabah

d)

Sukuk Murabahah

e)

Sukuk Istithmar

15.

The underlying asset for the sukuk is debt of the originator towards investors.

a)

Sukuk Ijarah

b)

Sukuk Musyarakah

c)

Sukuk Mudharabah

d)

Sukuk Murabahah

e)

Sukuk Istithmar

16.

Contractual agreement for manufacturing goods and comodities.

a)

Sukuk Mudharabah

b)

Sukuk Musyarakah

c)

Sukuk Istisna'

17.

An arrangement whereby one party entrusts another party to act on its behalf.

a)

Sukuk Salam

b)

Sukuk Wakalah

c)

Sukuk BBA

18.

Sukuk Musyarakah means______________________

a)

Purchase of assets

b)

Manufacturing goods and commodities

c)

Partnership

19.

Equity market also known as ______________________

a)

Stock Market

b)

Sukuk Market

c)

Bond Market

20.

Represent the basic voting shares of a corporation, this statement refers to _________________________

a)

Preferences shares

b)

Ordinary shares

c)

Warrant

21.

BB Bhd. is looking for financial support to build a factory. Which of the following sukuk concepts is most suitable for this scenario?

a)

Mudharabah

b)

Wakalah

c)

Ijarah

d)

Istisna’

22.

Sukuk holders would receive periodic cash flows based on a profit sharing ratio (PSR) for the sukuk structured based on the contract of __________.

a)

ijarah

b)

musharakah

c)

istisna

d)

wakalah

23.

_____________ represents a binding promise by issuer of sukuk to repurchase the assets at the face value at which the sukuk were initially purchased by sukuk holders.   

a)

Purchase Undertaking

b)

Asset Sale Agreement

c)

Lease Agreement

d)

Trust Certificate

24.

Coupon payment of sukuk refers to the __________

a)

scheduled profit distribution to sukuk holders.

b)

penalty imposed on the sukuk issuer for its failure in paying the face value of the sukuk on its maturity.

c)

face value paid to sukuk holders on maturity of the sukuk.

d)

fees charged by Securities Commission for approving the sukuk.

25.

Retail Sukuk can be briefly explain as:

a)

sukuk sell to giant investment companies

b)

Sukuk issue by Government Link Companies (GLC)

c)

Public can participate by buying the sukuk

d)

Available for high net worth individual only

26.

Briefly explain two (2) main factors contributing to sukuk default.

4 lines
27.

These are the issuers of bond in Malaysia, except _____

a)

Corporations

b)

Government

c)

BNM

d)

Small-medium Enterprises

28.

Individuals can issue bond

a)

True

b)

False

29.

A callable bond is preferable by investors compared with a non-callable bond. 

a)

True

b)

False

30.

A bond that has a sinking fund feature is a lower risk bond compared with a bond without sinking fund.

a)

True

b)

False

31.

What is the relationship between bond price and market interest rate?

a)

Positive relationship

b)

Negative relationship

32.

All bonds issue in Malaysia are required to be rated by Credit Rating Agency

a)

True

b)

False

33.

Market risk is embedded in the credit rating of a bond.

a)

True

b)

False

34.

Sukuk has a bigger market than conventional bond in Malaysia

a)

True

b)

False

35.

Sukuk has the characteristics of _____

a)

Straight bond

b)

Convertible bond

c)

Asset-backed security

d)

Bond with warrant

36.
The followings are the benefits of sukuk EXCEPT
a)
It provide avenue to source for large funding.
b)
It can be traded in the secondary market for liquidity need.
c)
It provide source of funding for corporate and government.
d)
It provide risk free investment vehicle to the investors.
37.
The following statements about Ijarah investment assets are correct EXCEPT
a)
must be depreciated
b)
can be adjusted as acid test ratio calculation
c)
must be tested for impairment annually
d)
can be treated as potential rental income
38.

Bank Negara Bills (BNB) and Bank Negara Notes are issued by Central Bank.

Cagamas Berhad is the National Mortgage Corporation whose business is to promote the secondary mortgage market in Malaysia.

The statement above is TRUE or False.

a)

TRUE

b)

FALSE

39.

In the secondary market, bond and sukuk sales proceeds go to the seller while the primary market, they are channelled directly to the issuer.

TRUE or FALSE?

a)

TRUE

b)

FALSE

40.

Which of the following statement is TRUE about the rating and pricing of bonds?

a)

corporate bonds has low risk compared to government bonds.

b)

Bonds are typically backed by the ability of the investor to pay.

c)

RAM and MARC are bond credit rating agencies.

d)

All of the answers are correct.

41.

SC launched the _____________________ a non profit information platform that provides free access to information on bonds sukuk.

a)

LOLA

b)

BIX

c)

MARC

d)

Non of the above

42.

______________ are securities backed by assets such as mortgages, loans, receivables.

a)

Index backed Securities

b)

Private debt Securities

c)

Asset-backed Securities

d)

Asset-based Securities

43.

What is a key difference between Islamic bonds (Sukuk) and conventional bonds?

a)

Sukuk pay fixed interest to bondholders.

b)

Conventional bonds are backed by physical assets, while Sukuk are backed by future cash flows.

c)

Sukuk represent ownership in an asset or project.

d)

Conventional bonds have a shorter maturity period.

44.

Cash and debt (interest based) should not exceed 33% of company total asset in screening process

a)

True

b)

False

45.

Two tier quantitative approach in screening process involves 5% and 15% benchmark

a)

True

b)

False

46.

In cleansing strategy, we should sell the stock immediately if the current value (RM0.80) less than investment cost (RM1.00)

a)

True

b)

False

47.

A contract whereby a lessor (owner) leases out an asset to a lessee at an agreed lease rental for a predetermined lease period. The ownership of the leased asset shall always remain with the lessor.


What type of Islamic capital match above?

a)

Istisna

b)

Ijarah

c)

Salam

d)

Mudharabah

e)

Wakalah

48.

Which of the followings include Sale & Purchase in their principles?


i. Salam

ii. Mudharabah

iii. Ijarah

iv. Murabahah

a)

i and ii

b)

ii and iii

c)

i and iii

d)

i and iv

49.

Shariah screening methodology was formulated by the __________ of Malaysia to assist investors in identifying Shariah-compliant securities.

a)

Shariah Advisory Council (SAC) of Bank Negara Malaysia (BNM)

b)

Shariah Advisory Council (SAC) of Securities Commission (SC)

c)

Shariah Supervisory Board (SSB) of Bank Negara Malaysia (BNM)

d)

Shariah Supervisory Board (SSB) of Securities Commission (SC)

50.

What is the permissible % benchmark that was determined by the Shariah Advisory Council (SAC) of the Securities Commission for the criteria on rental from non-permissible activities?

a)

5%

b)

15%

c)

20%

d)

10%

51.

securitization brings in liquidity to the originator

a)

True

b)

false

52.

SPV is otherwise called as

(a)  

53.

Credit card receivables can be securitized by a banker

a)

true

b)

false

54.

Securitzation is the process of converting illiquid assets into securities

a)

true

b)

false

55.

Securitization is beneficial for banks because it:

a)

repackages bank loans into simpler structures.

b)

increases the funds available for banks to lend.

c)

allows banks to maintain ownership of their securitized assets.

56.

In a securitization, the collateral is initially sold by the:

a)

issuer.

b)

depositor.

c)

underwriter.

57.

Choose the correct answer about sukuk?

a)

Opposite with shariah

b)

Contain riba

c)

Cannot be traded on the secondary market

d)

Provides regular monthly income

58.

What is the definition of sukuk?

a)

Islamic financial certificate

b)

Units of equity ownership in a cooperation

c)

Security that represent the ownership of a fraction of the cooperation

59.

Choose the correct answer about sukuk?

a)

Opposite with shariah

b)

Contain riba

c)

Cannot be traded on the secondary market

d)

Provides regular monthly income

60.

Please name a contract based on which a commodity can be transacted before it comes into existence.

 

a)

Istisna’

b)

Ijarah

c)

Bai’ al-Salam.

d)

Istisna’ and

Bai’ al-Salam.