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101. |
The general calculation of Zakat on the possession of a Muslim is: |
A. | 1.5% |
B. | 2.5% |
C. | 2.75% |
D. | 2.85% |
Answer» B. 2.5% |
102. |
The minimum amount that a Muslim is obliged to pay as Zakat is called : |
A. | Nisab |
B. | Sadaqah |
C. | Zakah |
D. | None of the above |
Answer» D. None of the above |
103. |
The word Zakat means: |
A. | Almsgiving |
B. | charity |
C. | to purify |
D. | welfare |
Answer» C. to purify |
104. |
Zakat is additionally payable on: |
A. | Agricultural goods |
B. | precious metals |
C. | live stock |
D. | All of the above |
Answer» D. All of the above |
105. |
According to Quran, the qualified people to benefit from Zakat is : |
A. | poor |
B. | Zakat collectors |
C. | to free from slavery |
D. | All of the above |
Answer» D. All of the above |
106. |
The eight categories of people who qualify for benefit from Zakat fund is collectively termed as: |
A. | asnaf |
B. | sabililah |
C. | riqab |
D. | none of the above |
Answer» A. asnaf |
107. |
How many times the term Zakat mentioned in Quran: |
A. | 10 |
B. | 20 |
C. | 25 |
D. | 28 |
Answer» B. 20 |
108. |
Zakat al-fitr is payable during the month of: |
A. | Ramdan |
B. | Dhu al-Hajj |
C. | Muharram |
D. | Rajah |
Answer» A. Ramdan |
109. |
Riba on a credit transaction is called: |
A. | al-Nasiya |
B. | al-Fadl |
C. | Qard |
D. | Duyun |
Answer» A. al-Nasiya |
110. |
Which among the following is not a type Riba: |
A. | Qard |
B. | Fadl |
C. | Nasiah |
D. | Shirkah |
Answer» D. Shirkah |
111. |
How many times the word ‘riba’appeared in Quran: |
A. | eight |
B. | ten |
C. | eleven |
D. | fifteen |
Answer» A. eight |
112. |
A sales contract in which delivery of both the commodity and the payment is deferred is called : |
A. | Bai al-Salam |
B. | Bai al-Inah |
C. | Bai al-Mudaf |
D. | Bai al-Muzayadah |
Answer» C. Bai al-Mudaf |
113. |
Sales by auction is termed as: |
A. | Bai al-Inah |
B. | Bai al-Mudaf |
C. | Bai al-Gharar |
D. | Bai al-Muzayadah |
Answer» D. Bai al-Muzayadah |
114. |
Which among the following is a currency: |
A. | Dinar |
B. | Dirham |
C. | fal |
D. | All of the above |
Answer» D. All of the above |
115. |
The section of Islamic law that deals with the distribution of the estate of a deceased person is called: |
A. | falah |
B. | faraid |
C. | eshtirak |
D. | none of the above |
Answer» B. faraid |
116. |
Which among the following is a gharar: |
A. | selling goods that the seller is unable to deliver |
B. | selling unknown goods against an unknown price |
C. | selling goods without proper description |
D. | All of the above |
Answer» D. All of the above |
117. |
Which among the following is not a type of Gharar: |
A. | Fahish |
B. | Yasir |
C. | Mutawassit |
D. | None of the above |
Answer» D. None of the above |
118. |
Which among the following is a feature of Gharar: |
A. | risk |
B. | deception |
C. | uncertainty |
D. | all the above |
Answer» D. all the above |
119. |
The term used to describe the function carried out by the state to regulate the market price is: |
A. | Hukm |
B. | Hisbah |
C. | Mubah |
D. | None of the above |
Answer» B. Hisbah |
120. |
The prohibited practice of storing commodities in anticipation of increase in prices is called: |
A. | Ijab |
B. | ijarah |
C. | Ihtikar |
D. | None of the above |
Answer» C. Ihtikar |
121. |
First Islamic Bank in Germany is: |
A. | Moroccan Chaabi Bank |
B. | Axa Bank |
C. | KT Bank |
D. | None of the above |
Answer» C. KT Bank |
122. |
The social science that deals with the production, distribution and consumption of goods and services is called: |
A. | economics |
B. | sociology |
C. | social work |
D. | None of the above |
Answer» A. economics |
123. |
Who among the following is considered as the father of economics: |
A. | Adam Smith |
B. | John Keynes |
C. | Thomas Piketty |
D. | Alfred Marshal |
Answer» A. Adam Smith |
124. |
Which among the following is not a work of Adam Smith: |
A. | the theory of moral sentiments |
B. | the wealth of nations |
C. | essays on philosophical subjects |
D. | principles of economics |
Answer» D. principles of economics |
125. |
The book “the wealth of nations” was written by: |
A. | Adam Smith |
B. | John Keynes |
C. | Karl Marx |
D. | Alfred Marshal |
Answer» A. Adam Smith |
126. |
The book “principles of economics” was written by: |
A. | Adam Smith |
B. | John Keynes |
C. | Karl Marx |
D. | Alfred Marshall |
Answer» D. Alfred Marshall |
127. |
Who among the following is the vicegerent of god on earth: |
A. | Prophets |
B. | khalifa |
C. | Jurists |
D. | None of the above |
Answer» B. khalifa |
128. |
In Islamic theory the ultimate owner of man’s every possession is |
A. | Allah |
B. | Prophets |
C. | Khalifa |
D. | None of the above |
Answer» A. Allah |
129. |
In socialism, means of production are owned by: |
A. | God |
B. | State |
C. | Political Authority |
D. | people |
Answer» B. State |
130. |
Socialist system is considered as the child of: |
A. | Materialism |
B. | democracy |
C. | Theocracy |
D. | individualism |
Answer» A. Materialism |
131. |
Capitalism prefers the absolute right of: |
A. | state |
B. | god |
C. | Individual |
D. | people |
Answer» C. Individual |
132. |
Mizan Bank is situated in: |
A. | Pakistan |
B. | Sudan |
C. | Iran |
D. | Saudi Arabia |
Answer» A. Pakistan |
133. |
IDB was founded in the year: |
A. | 1975 |
B. | 1976 |
C. | 1977 |
D. | 1978 |
Answer» A. 1975 |
134. |
The chairman of CTFS was: |
A. | Ibrahim Varde |
B. | Abbas Mirakher |
C. | I A Hanifi |
D. | None of the above |
Answer» C. I A Hanifi |
135. |
Faisal Islamic Bank is situated in: |
A. | Iran |
B. | Sudan |
C. | Pakistan |
D. | Saudi Arabia |
Answer» B. Sudan |
136. |
The bank of Sudan Act was passed on: |
A. | 1945 |
B. | 1950 |
C. | 1959 |
D. | 1961 |
Answer» C. 1959 |
137. |
The highest Muslim populated non-Islamic country is : |
A. | India |
B. | America |
C. | China |
D. | Russia |
Answer» A. India |
138. |
Islamic Banking system was introduced in Iran after the revolution held on: |
A. | 1971 |
B. | 1979 |
C. | 1981 |
D. | 1988 |
Answer» B. 1979 |
139. |
Who among the following is considered as the founder of Islamic Banks: |
A. | I. A. Hanifi |
B. | Abbas Mirakhar |
C. | Ibrahim Varde |
D. | Ahmad al--Najjar |
Answer» D. Ahmad al--Najjar |
140. |
Who among the following initiated for the introduction of Islamic Banking system in India: |
A. | Raghuram Rajan |
B. | Viral Acharya |
C. | Bimal Jalan |
D. | N.K. Singh |
Answer» A. Raghuram Rajan |
141. |
The tactics of tax-evasion is followed in: |
A. | Islamic finance |
B. | capitalism |
C. | Socialism |
D. | communism |
Answer» B. capitalism |
142. |
Fedral Shariat Court is situated in: |
A. | Pakistan |
B. | Malasiya |
C. | Iran |
D. | Sudan |
Answer» A. Pakistan |
143. |
Raghuram Rajan was the: |
A. | Finance Minister of India |
B. | RBI Governor |
C. | Economist |
D. | Political activist |
Answer» B. RBI Governor |
144. |
The form of indirect access of ownership of wealth is: |
A. | Zakat |
B. | Waqf |
C. | inheritance |
D. | All of the above |
Answer» D. All of the above |
145. |
Which among the following is cost-plus financing : |
A. | Mudaraba |
B. | Musharaka |
C. | Murabaha |
D. | Ijara |
Answer» C. Murabaha |
146. |
The non-obligatory charity in Islam known as: |
A. | Zakat |
B. | Sadaqah |
C. | Ghanimah |
D. | None of the above |
Answer» B. Sadaqah |
147. |
The term which refers leasing in Islamic theory is called: |
A. | Sukuk |
B. | Ijarah |
C. | Bai Salam |
D. | Ju’ala |
Answer» B. Ijarah |
148. |
The IDB is located in: |
A. | Riyadh |
B. | Jeddah |
C. | Lahore |
D. | Singapore |
Answer» B. Jeddah |
149. |
The first Islamic commercial bank was: |
A. | Faisal Islamic Bank |
B. | Meezan Bank |
C. | Al-Aman Bank |
D. | Sudaneese Islamic Bank |
Answer» B. Meezan Bank |
150. |
The Central Bank of Iran was established in: |
A. | 1928 |
B. | 1945 |
C. | 1961 |
D. | 1979 |
Answer» A. 1928 |
151. |
Raghuram Rajan Report was released on the year: |
A. | 2000 |
B. | 2004 |
C. | 2005 |
D. | 2008 |
Answer» D. 2008 |
152. |
Malaysia’s first Islamic based investment product was: |
A. | Amanah |
B. | Musharaka |
C. | Wakalah |
D. | None of the above |
Answer» A. Amanah |
153. |
Musaqat is the agricultural contract especially for : |
A. | land |
B. | metal |
C. | trees |
D. | water resources |
Answer» C. trees |
154. |
The Bank of Esteqrazi was based on : |
A. | Sudan |
B. | Iran |
C. | Malaysia |
D. | Indonesia |
Answer» B. Iran |
155. |
Bank Melli of Iran was established on: |
A. | 1920 |
B. | 1923 |
C. | 1925 |
D. | 1927 |
Answer» B. 1923 |
156. |
The Central Bank of Iran was established on: |
A. | 1920 |
B. | 1923 |
C. | 1925 |
D. | 1927 |
Answer» D. 1927 |
157. |
In Iran, the law of usury free banking was passed on: |
A. | 1981 |
B. | 1982 |
C. | 1983 |
D. | 1984 |
Answer» C. 1983 |
158. |
The Muslim scholar who can be considered as the father of economics was: |
A. | Ibn Taymiyyah |
B. | Ibn Khladun |
C. | Al-Ghazzali |
D. | Abu Yusuf |
Answer» B. Ibn Khladun |
159. |
The author of Kitab ul-kheraj was: |
A. | Al-Baladhuri |
B. | Ibn Khaldun |
C. | Al-Ghazzali |
D. | Abu Yusuf |
Answer» D. Abu Yusuf |
160. |
In Islam, the bargaining on price is called : |
A. | Istisnaa |
B. | Sukuk |
C. | Musawamah |
D. | none of the above |
Answer» C. Musawamah |
161. |
Al-Rajhi Bank is based on: |
A. | Pakistan |
B. | Iran |
C. | Malaysia |
D. | Saudi Arabia |
Answer» D. Saudi Arabia |
162. |
The head Office of Al-Rajhi Bank is located in: |
A. | Lahore |
B. | Doha |
C. | Riyadh |
D. | Abu Dhabi |
Answer» C. Riyadh |
163. |
Which among the following is not a part of Waqf: |
A. | Religious Waqf |
B. | Philanthropic Waqf |
C. | Family Waqf |
D. | Banking Waqf |
Answer» D. Banking Waqf |
164. |
AAOIFI is based in: |
A. | Oman |
B. | Bahrain |
C. | Saudi Arabia |
D. | Malaysia |
Answer» B. Bahrain |
165. |
AAOIFI was established on: |
A. | 1990 |
B. | 1991 |
C. | 1992 |
D. | 1993 |
Answer» B. 1991 |
166. |
AAOIFI mainly prepares: |
A. | Accounting |
B. | auditing |
C. | Governance |
D. | all of the above |
Answer» D. all of the above |
167. |
Bank Islam Malaysia started its operation on: |
A. | 1983 |
B. | 1984 |
C. | 1985 |
D. | 1986 |
Answer» A. 1983 |
168. |
Pakistan’s first and largest Islamic Bank is: |
A. | Meezan |
B. | Al-Baraka |
C. | Al-Falah |
D. | None of the above |
Answer» A. Meezan |
169. |
LARIBA is based on: |
A. | Malaysia |
B. | America |
C. | Singapore |
D. | UK |
Answer» B. America |
170. |
Al-Baraka is based on: |
A. | Singapore |
B. | Pakistan |
C. | Saudi Arabia |
D. | Bahrain |
Answer» B. Pakistan |
171. |
The institution for the socio-economic welfare of Muslim Society is: |
A. | Zakat |
B. | Sadaqah |
C. | Waqf |
D. | Khair |
Answer» C. Waqf |
172. |
The economic system in which transactions between private parties are free from government intervention is called: |
A. | Amanah |
B. | Wadiah |
C. | Laizze Faire |
D. | None of the above |
Answer» C. Laizze Faire |
173. |
The importance of the role of labour in the creation of wealth was underlined by: |
A. | Al-Ghazzali |
B. | In Taymiyyah |
C. | Ibn Khaldun |
D. | All of the above |
Answer» D. All of the above |
174. |
Which Muslim scholars emphasized on the necessity of establishing economic cooperation between the different parties of a society : |
A. | Ibn al-Qayyim |
B. | Ibn Taymiyyah |
C. | Ibn Khaldun |
D. | Abu Yusuf |
Answer» A. Ibn al-Qayyim |
175. |
Who among the following is credited to analyse first on the concepts of labour, value and the division of labour: |
A. | Ibn Taymiyyah |
B. | Ibn Khaldun |
C. | David Recardo |
D. | Karl Marx |
Answer» B. Ibn Khaldun |
176. |
Which among the following scholars used the treatment of utility as a scientific tool of analysis: |
A. | Al-Ghazzali |
B. | Ibn Taymiyyah |
C. | Al-Shatibi |
D. | All of the above |
Answer» D. All of the above |
177. |
Who among the following described on the qualities of Muhtasib: |
A. | Abu Yusuf |
B. | Al-Ghazzali |
C. | Nizam ul-Mulk Tusi |
D. | Ibn Khaldun |
Answer» B. Al-Ghazzali |
178. |
The principles of Islamic world view of economics is/are : |
A. | trusteeship lies in Allah |
B. | giving Zakat |
C. | prohibition of Riba and Gharar |
D. | All of the above |
Answer» D. All of the above |
179. |
Which among the following is associated with Waqf : |
A. | Waqif |
B. | Mutawillis |
C. | Qadi |
D. | All of the above |
Answer» D. All of the above |
180. |
Bijak, a form of credit was issued by: |
A. | Meezan Bank |
B. | Faisal Islamic Bank |
C. | Bank Shahanshahi |
D. | None of the above |
Answer» C. Bank Shahanshahi |
181. |
Which among the following Bank is not situated in Iran: |
A. | Imperial bank |
B. | New East Bank |
C. | Bank of Estegrazi |
D. | Faisal Islamic bank |
Answer» D. Faisal Islamic bank |
182. |
The Sudan Currency Board was established on: |
A. | 1959 |
B. | 1961 |
C. | 1963 |
D. | 1966 |
Answer» A. 1959 |
183. |
The new Sudanese Currency was issued on: |
A. | 1959 |
B. | 1961 |
C. | 1963 |
D. | 1966 |
Answer» A. 1959 |
184. |
The entire commercial banking sector was nationalized in Sudan on: |
A. | 1961 |
B. | 1970 |
C. | 1975 |
D. | 1980 |
Answer» B. 1970 |
185. |
The fine paid by a person for having committed an act prohibited by Allah is called: |
A. | Kaffarath |
B. | Nafaqath |
C. | Ghanimah |
D. | Fay |
Answer» A. Kaffarath |
186. |
The term refers the law of inheritance is: |
A. | Kaffarath |
B. | Wirathat |
C. | Nafaqath |
D. | Fay |
Answer» B. Wirathat |
187. |
The term refers to the religious obligation of any Muslims to pay one-fifth of their acquired wealth from certain sources is called: |
A. | Ghanima |
B. | Khums |
C. | Wirathat |
D. | Fay |
Answer» B. Khums |
188. |
Which among the following is not included in Khums tax: |
A. | Ghanima |
B. | Treasure |
C. | Zakat |
D. | Mineral resources |
Answer» C. Zakat |
189. |
Ghanima is: |
A. | poll tax |
B. | booty seized with war |
C. | tax for mineral resources |
D. | land tax |
Answer» B. booty seized with war |
190. |
Khums is generally applies: |
A. | 1/2 |
B. | 1/3 |
C. | 1/4 |
D. | 1/5 |
Answer» D. 1/5 |
191. |
The first UK Islamic Bank is: |
A. | Al-Baraka international |
B. | The imperial Bank |
C. | Bank of London |
D. | None of the above |
Answer» A. Al-Baraka international |
192. |
The Sukuk market started in UK on |
A. | 2000 |
B. | 2002 |
C. | 2007 |
D. | 2009 |
Answer» C. 2007 |
193. |
First western government issue sovereign sukuk is: |
A. | US |
B. | UK |
C. | Germany |
D. | France |
Answer» C. Germany |
194. |
The number of fully Sharia-complaint bank in UK is: |
A. | three |
B. | five |
C. | seven |
D. | nine |
Answer» B. five |
195. |
The mode of transaction introduced in UK with Islamic finance is: |
A. | Mudaraba |
B. | Musharaka |
C. | Murabaha |
D. | Ijara |
Answer» C. Murabaha |
196. |
First 100% shariah-complaint bank in USA is: |
A. | Deron Bank |
B. | University Bank |
C. | LARIBA |
D. | None of the above |
Answer» B. University Bank |
197. |
LARIBA is a US based: |
A. | Finance company |
B. | bank |
C. | Non-profit organization |
D. | None of the above |
Answer» A. Finance company |
198. |
First Islamic Bank in Indonesia: |
A. | Bank Melli |
B. | Bank Muamalat |
C. | Bank Indonesia |
D. | None of the above |
Answer» B. Bank Muamalat |
199. |
Bank Muamalat was established in: |
A. | 1990 |
B. | 1992 |
C. | 1994 |
D. | 1995 |
Answer» B. 1992 |
200. |
The only Islamic banking institution in France is: |
A. | Moroccoan Chaabi Bank |
B. | BNP Paribas |
C. | Axa Bank |
D. | None of the above |
Answer» A. Moroccoan Chaabi Bank |
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