WorksheetsQuiz on Riba and Its Implications
Total questions: 22
Worksheet time: 11mins
What is the Arabic term for interest?
Usury
Riba
Sadaqah
Zina
According to the Qur'an, what has Allah announced against those who take interest?
Blessings
Peace
War
Forgiveness
What is the Shar'i meaning of Riba?
Extra wealth earned without benefit
Extra wealth earned with benefit
Wealth lost in gambling
Wealth gained through trade
Which of the following is considered a major sin in Islam?
Riba
Charity
Fasting
Prayer
What does the term 'Riba al-Nasi'ah' refer to?
Surplus in goods
Charity
Trade
Interest on loans
What is the ruling of Riba or usury in Islam?
Makruh
Haram
Mustahabb
Halal
Which verse from the Qur'an states that God has permitted trade and forbidden interest?
Surah Al-Hajj
Surah Al-Ma'idah 3
Surah Al-Annfal 33
Surah Al-Baqarah 275
What is an example of Riba in loans?
Paying back the same amount borrowed
Paying back in goods
Paying back more than borrowed
Paying back less than borrowed
What is the consequence of engaging in Riba according to the Hadith?
Wealth increase
Peace of mind
Cursed by Allah
Blessings from Allah
Which of the following is NOT one of the items that can incur Riba?
Gold
Clothing
Silver
Wheat
What is the condition for the validity of selling gold for gold?
deliver payment at same time
Same weights and quality
deliver items at same time
No conditions
What is the ruling on overdraft facilities provided by banks?
Permissible
Makruh
Mustahabb
Haram
What is the Islamic perspective on hire purchase agreements that involve interest?
Haram
Mustahabb
Permissible
Makruh
What does the term 'gharar' refer to in Islamic finance?
Certainty
Uncertainty
Loss
Profit
What is hire purchase?
A method of renting goods without any payment
A way to buy goods at a discounted price upfront
A method of buying goods through installment payments, with ownership transferred after full payment.
A type of loan with immediate ownership
What is charged on the outstanding amount in a hire purchase?
No charges are applied to the outstanding amount
A fee is charged for processing the hire purchase.
Interest is charged on the outstanding amount.
A flat rate is charged regardless of the outstanding amount.
Is it permissible to engage in hire purchase agreements that involve interest from an Islamic perspective?
No, it is not permissible to engage in hire purchase agreements that involve interest from an Islamic perspective.
It depends on the amount of interest involved.
Yes, it is permissible if the interest is low.
Hire purchase agreements are always permissible in Islam.
What happens if a payment is made late in a hire purchase agreement?
Late payments have no effect on the agreement terms.
Late payments are always forgiven without penalty. and it is permossible
Late payments increase the total amount due by 50%. which considered haram
Late payments can result in added fees, which considered haram
What does Allah Ta’ala declare about gambling?
Gambling is encouraged in Islam.
Gambling is prohibited (haram) in Islam.
Gambling is allowed under certain conditions.
Gambling is a form of charity in Islam.
Why is gambling considered impermissible in Islam?
Gambling is a form of charity in Islam.
Gambling is encouraged for financial stability.
Gambling is impermissible in Islam due to its promotion of unjust gain, greed, and potential social harm.
Gambling is a traditional cultural practice endorsed by Islam.
Why do some Muslim scholars consider digital currency impermissible?
Digital currency is widely accepted in all Muslim countries.
Digital currency is backed by gold and silver.
Digital currency is considered impermissible by some Muslim scholars due to concerns about uncertainty, speculation, and lack of intrinsic value.
Digital currency is considered a form of charity in Islam.
What happens if credit card debt is not paid within the interest-free period?
Interest will start accruing on the unpaid balance, and late fees may apply.
The debt will be forgiven after a certain period.
Your credit score will automatically improve.
You will receive a bonus for not using the card.
