McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Islamic History .
| 1. |
Which refers to uncertainty and deception in Islamic Economics? |
| A. | Zakat |
| B. | Gharar |
| C. | Sadaqa |
| D. | Salath |
| Answer» B. Gharar | |
| 2. |
In …………..the profit ratio is fixed according to capital contribution, while loss ratio. |
| A. | Musharaka |
| B. | Ijrah |
| C. | Mudarabah |
| D. | Bai Muhajjal |
| Answer» A. Musharaka | |
| 3. |
What refers to a delay in the settlement of one or both counter-values? |
| A. | Riba-al-Fadl |
| B. | Interest |
| C. | Riba |
| D. | Profit |
| Answer» A. Riba-al-Fadl | |
| 4. |
Buying a house for example Rs. 450,000 (to be paid in instalments over 5 years) is a permissible arrangement. |
| A. | Yes |
| B. | No |
| C. | Maybe |
| D. | None of these above |
| Answer» A. Yes | |
| 5. |
According to……………., anything that has economic value is considered wealth. |
| A. | Shariah |
| B. | Qiyas |
| C. | Ijma |
| D. | Ijthihad |
| Answer» A. Shariah | |
| 6. |
Offer and acceptance are non-essential attributes of the contract and if they are missing then the contract cannot be described as. |
| A. | Riba |
| B. | Shariah |
| C. | Void (batil). |
| D. | Sunnah |
| Answer» C. Void (batil). | |
| 7. |
It is permissible to sell a commodity before it comes under our control or we take (actual or constructive) possession of it. |
| A. | Excluding Salam and Istisna arrangements |
| B. | Only Salam |
| C. | All things |
| D. | none of these above |
| Answer» A. Excluding Salam and Istisna arrangements | |
| 8. |
One of the core aims or objectives (maqasid) of the Shariah is the preservation of. |
| A. | Wealth (Maal). |
| B. | Sunnah |
| C. | Imaan |
| D. | Value |
| Answer» A. Wealth (Maal). | |
| 9. |
Buying shares (stock) on a short term price fluctuations is considered speculation (rather than investment) and thus is a ……………trading practice. |
| A. | Prohibited |
| B. | None of these above |
| C. | Allowed |
| D. | Not a matter |
| Answer» A. Prohibited | |
| 10. |
The result of a sale transaction is instant and a result in an absolute transfer of the (asset) is. |
| A. | Ownership |
| B. | Private |
| C. | Partnership |
| D. | Public |
| Answer» A. Ownership | |
| 11. |
In………., partner who invest eg. Rs.50,000 (or 10 % of total investment capital) has right to specify from the beginning that his share of profit will be Rs. 5,000 per year (which equals to10 % of his initial contribution). |
| A. | Musharaka |
| B. | Riba |
| C. | Mudarabah |
| D. | Zakat |
| Answer» A. Musharaka | |
| 12. |
Man is the Khalifah of God or Vicegerent on earth and the resources at his disposal are. |
| A. | A trust (Amanath) |
| B. | Property |
| C. | A profit |
| D. | A commodity |
| Answer» A. A trust (Amanath) | |
| 13. |
Who must utilize them according to the will of the Creator and he will be held accountable for any misuse of these resources. |
| A. | Man |
| B. | Prophet |
| C. | God |
| D. | Angels |
| Answer» A. Man | |
| 14. |
All the follows that the resources are means to attain. |
| A. | Falah |
| B. | Fait |
| C. | Sujud |
| D. | Tragedy |
| Answer» A. Falah | |
| 15. |
Which is the creation of God for man? |
| A. | Nature |
| B. | Planets |
| C. | Animals |
| D. | Vegetables |
| Answer» A. Nature | |
| 16. |
All resources in nature are means for man to attain his falah (happiness) in this world and in the. |
| A. | Hereafter |
| B. | Friends |
| C. | Death |
| D. | Family |
| Answer» A. Hereafter | |
| 17. |
……… is the social science that studies the allocation of scarce resources to satisfy unlimited wants. |
| A. | Economics |
| B. | Botany |
| C. | History |
| D. | Commerce |
| Answer» A. Economics | |
| 18. |
Islamic Economics is a social science which studies the economic problems of people imbued with the values of. |
| A. | Islam |
| B. | Pragmatic |
| C. | Iman |
| D. | Rational |
| Answer» A. Islam | |
| 19. |
It is the study of social science which enables people to perform their obligation to Allah (God) and to their society. |
| A. | Islamic Economics |
| B. | Micro Economics |
| C. | Macro Economics |
| D. | E-commerce |
| Answer» A. Islamic Economics | |
| 20. |
In which place for accountability, and for getting the outcome of all deeds including economic activities, in an eternal life. |
| A. | Akhirah |
| B. | Dunyah |
| C. | Heaven |
| D. | Hell |
| Answer» A. Akhirah | |
| 21. |
……………….well-being for leading a good life and discharging socio-Islamic obligations in this world and for achieving the home of hereafter. |
| A. | Economic |
| B. | Trade |
| C. | Financial |
| D. | Commerce |
| Answer» A. Economic | |
| 22. |
Who created resources in abundant as per the Islamic ideology? |
| A. | Allah (God) |
| B. | Prophet |
| C. | Khalifa |
| D. | Government |
| Answer» A. Allah (God) | |
| 23. |
Why recourses in the eyes of man are scarce or limited? |
| A. | Due to lack of means to reach this resources |
| B. | Lack of knowledge |
| C. | Lack of belief |
| D. | None of these above |
| Answer» A. Due to lack of means to reach this resources | |
| 24. |
To understand the Islamic worldview let us first define the followings. |
| A. | Islam, Iman, Amal, & Ihsan. |
| B. | History |
| C. | Economics |
| D. | Politics |
| Answer» A. Islam, Iman, Amal, & Ihsan. | |
| 25. |
An Islamic world view or…………., is the vision of reality and truth that appears before our mind’s eye revelling what existence is all about. |
| A. | Ru’yat al-Islam li al Wujuod |
| B. | Nubuvath |
| C. | Risala |
| D. | Rassol |
| Answer» A. Ru’yat al-Islam li al Wujuod | |
| 26. |
It is defined as “a set of implicit and explicit assumptions about the origin of the universe as well as the nature and purpose of man not only in this world but in the hereafter too”. |
| A. | Islamic Economics |
| B. | Macro Economics |
| C. | Ancient Economics |
| D. | Micro Economics |
| Answer» A. Islamic Economics | |
| 27. |
To seek,…………….is a holy duty; it is obligatory on every Muslim, male and female. |
| A. | Knowledge |
| B. | Health |
| C. | Wealth |
| D. | Beauty |
| Answer» A. Knowledge | |
| 28. |
The first revealed word in the Qur’an was ………….. |
| A. | Iqrah or Read |
| B. | Convert |
| C. | Acquire |
| D. | Belief |
| Answer» A. Iqrah or Read | |
| 29. |
The idea of Socialism emerged as a repercussion against the evils of. |
| A. | Feudalism |
| B. | Communalism |
| C. | Capitalism |
| D. | Materialism |
| Answer» C. Capitalism | |
| 30. |
In Islamic order the priority of production is determined by. |
| A. | Availability of source |
| B. | Possibility of economic development |
| C. | Requirement of the individual |
| D. | Requirement of the society |
| Answer» D. Requirement of the society | |
| 31. |
Usurer was synonym used for. |
| A. | Arabs |
| B. | Lombard |
| C. | Jews |
| D. | goldsmith |
| Answer» C. Jews | |
| 32. |
The earliest economics practice prevailed in the world was. |
| A. | Batter system |
| B. | Barber system |
| C. | Commerce |
| D. | Share market |
| Answer» A. Batter system | |
| 33. |
The headquarters of Islamic Development Bank is. |
| A. | Paris |
| B. | London |
| C. | Jeddah |
| D. | Geneva |
| Answer» C. Jeddah | |
| 34. |
In Islamic philosophy Zakat is the …………….. of poor. |
| A. | Right |
| B. | Mercy |
| C. | Duty |
| D. | Principle |
| Answer» A. Right | |
| 35. |
The profit loss sharing in the Islamic Banking is known as. |
| A. | Mudarabh |
| B. | Murabaha |
| C. | Musharakah |
| D. | Bai Muajjal |
| Answer» A. Mudarabh | |
| 36. |
Economic and ……………….well-being for leading a good life. |
| A. | Non-Economic |
| B. | Trade |
| C. | Financial |
| D. | Commerce |
| Answer» A. Non-Economic | |
| 37. |
Who is creator of the universe according to Islamic belief? |
| A. | Allah (God) |
| B. | Prophet |
| C. | Khalifa |
| D. | Government |
| Answer» A. Allah (God) | |
| 38. |
Which is the social science that studies the allocation of scarce resources to satisfy the unlimited wants? |
| A. | Economics |
| B. | Botany |
| C. | History |
| D. | Commerce |
| Answer» A. Economics | |
| 39. |
It is the study of social science which enables people to perform their obligation to Allah and of their society. |
| A. | Islamic Economics |
| B. | Micro Economics |
| C. | Macro Economics |
| D. | E-commerce |
| Answer» A. Islamic Economics | |
| 40. |
Which refers to uncertainty and deception (amongst other things)? |
| A. | Zakat |
| B. | Gharar |
| C. | Sadaqa |
| D. | Salath |
| Answer» A. Zakat | |
| 41. |
What refers to a delay in the settlement of one or both counter-values? |
| A. | Riba al-Fadl |
| B. | Interest |
| C. | Riba |
| D. | Profit |
| Answer» A. Riba al-Fadl | |
| 42. |
Buying a house for eg. Rs. 450,000 (to be paid in instalments over 5 years) is a permissible arrangement. |
| A. | Yes |
| B. | No |
| C. | Maybe |
| D. | None of these above |
| Answer» A. Yes | |
| 43. |
According to……………., anything that has economic value is considered wealth. |
| A. | Sharia |
| B. | Right |
| C. | Constitution |
| D. | Power |
| Answer» A. Sharia | |
| 44. |
Offer and acceptance are non-essential attributes of the contract and if they are missing then the contract cannot be described as. ……………………….. |
| A. | Void (Batil) |
| B. | Sunnah |
| C. | Halal |
| D. | None of the above |
| Answer» A. Void (Batil) | |
| 45. |
……………………is permissible to sell a commodity before it comes under our control or we take (actual or constructive) possession of it. |
| A. | Excluding Salaam and Istinsa agreements |
| B. | Only B is correct |
| C. | Including Salaam and Istinsa |
| D. | All the above |
| Answer» A. Excluding Salaam and Istinsa agreements | |
| 46. |
One of the core aims or objectives (Maqasid) of the Shariah is the preservation of. |
| A. | Wealth (Maal) |
| B. | Health |
| C. | Power |
| D. | Ambition |
| Answer» A. Wealth (Maal) | |
| 47. |
Buying shares (stock) on a short term price fluctuations is considered speculation (rather than investment) and thus is a ……………trading practice. |
| A. | Prohibited |
| B. | Restricted |
| C. | Permitted |
| D. | None of the above |
| Answer» A. Prohibited | |
| 48. |
The result of a sale transaction is instant and a result in an absolute transfer of the (asset) is. |
| A. | Ownership |
| B. | Rent |
| C. | Entrepreneurship |
| D. | Lease |
| Answer» A. Ownership | |
| 49. |
Usurer was synonym used by. |
| A. | Arabs |
| B. | Lombard |
| C. | Jews |
| D. | Goldsmith |
| Answer» A. Arabs | |
| 50. |
Which one of the following is not essentially a part of Islamic Jurisprudence? |
| A. | Quran |
| B. | Sunnah |
| C. | Qiyas |
| D. | Tasawuff |
| Answer» D. Tasawuff | |
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