| 1. |
Sukuk is Arabic name stand for |
| A. | financial liabilities |
| B. | financial certificates |
| C. | financial assets |
| D. | financial loans |
| Answer» B. financial certificates | |
| 2. |
A type of partnership where one party offer funds while other gives expertise and management is |
| A. | murabaha |
| B. | musharika |
| C. | ijarah |
| D. | mudarabah |
| Answer» D. mudarabah | |
| 3. |
Word Musharika is originated from the |
| A. | latin word |
| B. | arabic word |
| C. | persian word |
| D. | french word |
| Answer» B. arabic word | |
| 4. |
Which is liability side financing out of these means |
| A. | large enterprise financing |
| B. | t-bills and federal investment bonds / debenture |
| C. | inter- bank lending / borrowing |
| D. | b & c |
| Answer» D. b & c | |
| 5. |
Expression Finance Certificates & Certificate of Investment in Musharika is |
| A. | liability side financing |
| B. | liability |
| C. | assets |
| D. | assets side financing |
| Answer» D. assets side financing | |
| 6. |
What is asset side financing out of these means |
| A. | large enterprise financing |
| B. | import financing |
| C. | letter of credit with margin (for musharika) |
| D. | all of answers are correct |
| Answer» B. import financing | |
| 7. |
Giving share of investor to customer on lease is the |
| A. | basis of musharika |
| B. | basis of diminishing musharika |
| C. | basis of ijarah |
| D. | basis of hibah |
| Answer» B. basis of diminishing musharika | |
| 8. |
An agreement in which advance fee is made for commodities to be delivered afterwards on is |
| A. | murabaha |
| B. | baisalam |
| C. | ijarah |
| D. | b& c |
| Answer» D. b& c | |
| 9. |
Word Musharika is originated from Arabic word Sharikah meaning |
| A. | friends |
| B. | ijarah |
| C. | lessor |
| D. | partnership |
| Answer» B. ijarah | |
| 10. |
A most ordinary kind of Shirkat-ul-Aqd where equality in capital, management or liability might be identical in one case but not in all respect meaning either profit is equal but not labour or vice versa is |
| A. | shirkat-ul-aqd |
| B. | shirkat-ul-ainan |
| C. | shirkat-ul-dain |
| D. | shirkat-ul-milk |
| Answer» B. shirkat-ul-ainan | |
| 11. |
Working capital financing in Musharika is |
| A. | liability side financing |
| B. | asset side financing |
| C. | assets |
| D. | liabilities |
| Answer» B. asset side financing | |
| 12. |
Where everyone partner contribute some capital into a commercial venture is |
| A. | partnership in capital |
| B. | shirkat-ul-amwal |
| C. | a & b |
| D. | shirkat-ul-abdan |
| Answer» C. a & b | |
| 13. |
Investments given by all partners/shareholders known to as |
| A. | partners |
| B. | ijarah |
| C. | murabah |
| D. | takaful |
| Answer» A. partners | |
| 14. |
Mutually or equally using an asset by taking twists under conditions where partners or joint vendors are on superior stipulations is |
| A. | musharikaintifa |
| B. | musharika |
| C. | ijarah |
| D. | hibah |
| Answer» A. musharikaintifa | |
| 15. |
Sharikah is chief term than |
| A. | ijarah |
| B. | murabaha |
| C. | musharika |
| D. | shirkat-ul-ainan |
| Answer» C. musharika | |
| 16. |
Factually it means a credit sale is |
| A. | baimuajjal |
| B. | mudarabah |
| C. | ijarah |
| D. | murabaha |
| Answer» A. baimuajjal | |
| 17. |
An investor and his customer contribute either in shared possession of an assets or equipment, or in a combined commercial venture is |
| A. | diminishing musharika |
| B. | musharika |
| C. | ijarah |
| D. | salam |
| Answer» A. diminishing musharika | |
| 18. |
The term Shirrkah – al- aqd in Islamic commercial law refers to a partnership or joint venture formed by……… |
| A. | payment of a fixed price |
| B. | safe keeping |
| C. | contract |
| D. | ruling by the shariah scholars |
| Answer» C. contract | |
| 19. |
The Islamic financial system prohibits transactions featuring |
| A. | extreme uncertainties resulting from speculation and gambling |
| B. | sharing of profit and risk of loss |
| C. | partnership agreements |
| D. | trading for profit |
| Answer» A. extreme uncertainties resulting from speculation and gambling | |
| 20. |
Are Islamic banking products for Muslims only |
| A. | for muslims and and those non-muslims who are allowed by sharri'ah scholars. |
| B. | no |
| C. | yes |
| D. | for muslims and those who convert to muslims |
| Answer» B. no | |
| 21. |
Tameen is another name for |
| A. | takaful (islamic insurance) |
| B. | faqir (a poor person) |
| C. | shirkah (partnership) |
| D. | tatfif (fraud) |
| Answer» A. takaful (islamic insurance) | |
| 22. |
Amanah in Islamic banking refers to |
| A. | a deposit held in trust which creates various fiduciary duties. |
| B. | an expert who is consulted for advice on islamic law. |
| C. | an interest-free loan. |
| D. | a loan that does not have to be repaid |
| Answer» A. a deposit held in trust which creates various fiduciary duties. | |
| 23. |
The Arabic term Haq means |
| A. | legal rights |
| B. | credit proposal |
| C. | taking full responsibility |
| D. | kind of sale |
| Answer» A. legal rights | |
| 24. |
The Shari'ah is set of rules or law governing |
| A. | spending on objects which have been explicitly prohibited. |
| B. | the quantity and quality of a good for sale |
| C. | economic, social, political and cultural aspects of islam societies. |
| D. | principles of partnership |
| Answer» C. economic, social, political and cultural aspects of islam societies. | |
| 25. |
Wakalah is used by Islamic banks mostly for |
| A. | consumer loans |
| B. | sales through documents |
| C. | fund management |
| D. | guaranteeing payments |
| Answer» C. fund management | |
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