McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Islamic History .
1. |
Abu Yousuf decorated the court of. |
A. | Umayyads |
B. | Abbasids |
C. | Fatimids |
D. | Seljukes |
Answer» B. Abbasids |
2. |
The term Laissez-faire was first coined by. |
A. | Adam Smith |
B. | Francois Quesnay |
C. | Vincent de Gournay |
D. | Thomas Malthus |
Answer» B. Francois Quesnay |
3. |
Riba is: |
A. | Ownership of wealth |
B. | Halal interest |
C. | Islamic Insurance |
D. | Interest |
Answer» D. Interest |
4. |
Who among the following is not associated with the economic implication of Islam? |
A. | Ibn Khaldun |
B. | Al Ghazzali |
C. | Mawardi |
D. | None of the above |
Answer» D. None of the above |
5. |
Which among the following is not a fundamental prohibition in Islam. |
A. | Riba |
B. | Maysir |
C. | Talaq |
D. | Gharar |
Answer» C. Talaq |
6. |
The full- fledged Islamic Economic system was first established by. |
A. | Prophet Muhammad |
B. | Umar |
C. | Abu Yousuf |
D. | Muawiyah |
Answer» B. Umar |
7. |
Which among the following is a form of Murabaha. |
A. | Ijara |
B. | Sukuk |
C. | Musawamah |
D. | Wadiyah |
Answer» C. Musawamah |
8. |
Haraam means: |
A. | Permissible |
B. | Forbidden |
C. | Not encouraged |
D. | Compulsory |
Answer» B. Forbidden |
9. |
Advance payment in Islamic Economics is termed as. |
A. | Salam |
B. | Ushr |
C. | Istisnah |
D. | Ijarah |
Answer» A. Salam |
10. |
Which among the following are the main pillars of Islamic society? |
A. | Social Cohesion |
B. | Co-Operation |
C. | Self Sufficiency |
D. | All the above |
Answer» D. All the above |
11. |
Mixed economy means an economy where: |
A. | both agriculture and industry are equally promoted by the state |
B. | there is co-existence of public sector along with private sector |
C. | there is importance of small scale industries along with heavy industries |
D. | economy is controlled by military as well as civilian rulers |
Answer» B. there is co-existence of public sector along with private sector |
12. |
Demand for a commodity refers to: |
A. | Need for the commodity |
B. | Desire for the commodity |
C. | Quantity demanded of that commodity |
D. | Amount of the commodity demanded at a particular price and at a particular time |
Answer» D. Amount of the commodity demanded at a particular price and at a particular time |
13. |
Banking or banking action that is consistent with main beliefs of Shariah and its realistic application from beginning to end improvement of Islamic economics is: |
A. | Islamic Banking |
B. | development Bank |
C. | conventional banking |
D. | b& c |
Answer» A. Islamic Banking |
14. |
Sukuk is an Arabic name stand for: |
A. | financial liabilities |
B. | financial certificates |
C. | financial assets |
D. | financial loans |
Answer» B. financial certificates |
15. |
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 |
16. |
Shirkat-ul-wujooh has its origin in Arabic word: |
A. | wajahat |
B. | wajahee |
C. | waujooh |
D. | wajhee |
Answer» A. wajahat |
17. |
Word Musharika is originated from the: |
A. | Latin word |
B. | Arabic word |
C. | Persian word |
D. | French word |
Answer» B. Arabic word |
18. |
Shirkat-ul-wujooh has its origin in Arabic phrase Wajahat meaning: |
A. | reputation |
B. | goodwill |
C. | liabilities |
D. | assets |
Answer» B. goodwill |
19. |
The Shariah compliant investments banking was undertaken in Egypt on: |
A. | 1955 |
B. | 1958 |
C. | 1963 |
D. | 1968 |
Answer» C. 1963 |
20. |
Giving share of investor to customer on lease is the: |
A. | basis of musharika |
B. | basis of ijarah |
C. | basis of diminishing musharika |
D. | basis of hibah |
Answer» C. basis of diminishing musharika |
21. |
Taa’wan refers: |
A. | social welfare |
B. | mutual cooperation |
C. | individual rights |
D. | personal property |
Answer» B. mutual cooperation |
22. |
Iqtisaduna was written by: |
A. | Mohammad Baqir al-Sadr |
B. | Taqiuddin al-Nabhani |
C. | Mahmud Taleqani |
D. | None of the above |
Answer» A. Mohammad Baqir al-Sadr |
23. |
Aaqilah refers: |
A. | Inherent one |
B. | compensation |
C. | reward |
D. | mutual help |
Answer» D. mutual help |
24. |
Which among the following deals with justice and fairness: |
A. | Adl |
B. | Ajr |
C. | Ahad |
D. | None of the above |
Answer» A. Adl |
25. |
A payment or compensation such as commission, fees or wages charged for services is called: |
A. | Ajr |
B. | Adl |
C. | Ahad |
D. | Taa’wan |
Answer» A. Ajr |
26. |
Daman means: |
A. | Interest |
B. | liability |
C. | reward |
D. | compensation |
Answer» B. liability |
27. |
Amil is: |
A. | manager |
B. | worker |
C. | leader |
D. | none of the above |
Answer» B. worker |
28. |
Aqd is: |
A. | compensation |
B. | contract |
C. | profit |
D. | loss |
Answer» B. contract |
29. |
Which among the following is a loan contract: |
A. | Muawadah |
B. | ijarah |
C. | Qard |
D. | None of the above |
Answer» C. Qard |
30. |
The non refundable down payment or deposit paid by a buyer for the right to purchase in future is called: |
A. | Aql |
B. | Arbun |
C. | Ariya |
D. | Taa’wan |
Answer» B. Arbun |
31. |
Banking an object for cash then selling it to the same party for higher price is: |
A. | Bai al-Arbun |
B. | Bai al-Amanat |
C. | Bai al-Inhah |
D. | Bai Salam |
Answer» C. Bai al-Inhah |
32. |
The Islamic term for Barter is: |
A. | Khiyar |
B. | Mutlaq |
C. | Muqayaza |
D. | Inhah |
Answer» C. Muqayaza |
33. |
Which among the following is a credit sale: |
A. | Boatil |
B. | Bai Muajjal |
C. | Istisna |
D. | None of the above |
Answer» B. Bai Muajjal |
34. |
Gharar means: |
A. | interest |
B. | profit |
C. | loss |
D. | risk |
Answer» D. risk |
35. |
Bait ul Mal is: |
A. | personal belonging |
B. | public treasury |
C. | auction |
D. | None of the above |
Answer» B. public treasury |
36. |
Invalid sale or contract is termed as: |
A. | Muajjal |
B. | Boatil |
C. | Khiyar |
D. | Ajil |
Answer» B. Boatil |
37. |
Bai Muajjal is associated with: |
A. | credit sale |
B. | defered payment contract |
C. | lumpsum |
D. | All of the above |
Answer» D. All of the above |
38. |
Sale of debt is termed as: |
A. | Bai Wafa |
B. | Bai Muajjal |
C. | Bay al-Dayn |
D. | None of the above |
Answer» C. Bay al-Dayn |
39. |
In Islamic finance, Daman refers to: |
A. | assets |
B. | security |
C. | profit |
D. | interest |
Answer» B. security |
40. |
The Islamic term for insurance is: |
A. | Falah |
B. | Fadl |
C. | Boatil |
D. | Takaful |
Answer» D. Takaful |
41. |
Which among the following refers ‘religious decree’: |
A. | Fasid |
B. | Fatwa |
C. | Waqf |
D. | Fiqh |
Answer» B. Fatwa |
42. |
Ijarah is: |
A. | Bill of exchange |
B. | leasing |
C. | debt |
D. | none of the above |
Answer» B. leasing |
43. |
Sukuk is: |
A. | leasing |
B. | debt |
C. | bond |
D. | None of the above |
Answer» C. bond |
44. |
Which among the following denotes Islamic Bond: |
A. | Ijarah |
B. | Sukuk |
C. | Fasid |
D. | Tamleek |
Answer» B. Sukuk |
45. |
Which among the following is the source of Islamic economic theory: |
A. | Qiyas |
B. | Ijma |
C. | Ijtihad |
D. | All of the above |
Answer» D. All of the above |
46. |
Ijma is: |
A. | private judgement |
B. | imitation |
C. | analogy |
D. | consensus |
Answer» D. consensus |
47. |
Which among the following is performed by jurists: |
A. | Ijma |
B. | Ijtihad |
C. | Fatwa |
D. | All of the above |
Answer» D. All of the above |
48. |
Which among the following is forward sale: |
A. | Istislah |
B. | Sukuk |
C. | Istisna’a |
D. | None of the above |
Answer» C. Istisna’a |
49. |
Which among the following is not a tax: |
A. | Jiziya |
B. | Kharaj |
C. | Zakat |
D. | Sadaqah |
Answer» D. Sadaqah |
50. |
Which among the following is service fee: |
A. | Istisna’a |
B. | Jua’lah |
C. | Ijara |
D. | None of the above |
Answer» B. Jua’lah |
Done Studing? Take A Test.
Great job completing your study session! Now it's time to put your knowledge to the test. Challenge yourself, see how much you've learned, and identify areas for improvement. Don’t worry, this is all part of the journey to mastery. Ready for the next step? Take a quiz to solidify what you've just studied.