McqMate
1. |
An Ordinance was propagates to permit establishment of |
A. | mudaraba companies |
B. | musharika companies |
C. | murabah companies |
D. | all of answers are correct |
Answer» A. mudaraba companies |
2. |
Negotiation of a selling price among two parties exclusive of reference by seller to either costs or asking price is |
A. | ijarah wa iqtna |
B. | ijarah |
C. | musawamah |
D. | musharika |
Answer» C. musawamah |
3. |
What is the most widely used Islamic mode of financing in asset side operation of Islamic banks? |
A. | murabaha |
B. | ijarah |
C. | salam |
D. | diminishing musharakah |
Answer» A. murabaha |
4. |
The following items are major components of Islamic banking and finance except |
A. | islamic banking |
B. | takaful (insurance) |
C. | stock exchange |
D. | capital market |
Answer» C. stock exchange |
5. |
Islamic bonds can be rated on the two basis |
A. | long term and short term |
B. | sovereign and corporate |
C. | public and private |
D. | none of the above |
Answer» D. none of the above |
6. |
Who bears the loss in wakalah |
A. | principal |
B. | wakeel |
C. | both together |
D. | none of the above |
Answer» B. wakeel |
7. |
Securitization possible in |
A. | murabaha |
B. | ijara |
C. | both a and b |
D. | none of the above |
Answer» B. ijara |
8. |
Islamic bank rely on the following two major sources of funds |
A. | transaction deposits and accounts receivables |
B. | investment deposit and current accounts |
C. | accounts payable and investment accounts |
D. | transaction deposits and investment deposits |
Answer» D. transaction deposits and investment deposits |
9. |
Which of the following is not a source of fund for Islamic banks? |
A. | current accounts |
B. | saving account |
C. | account receivables |
D. | investment account |
Answer» C. account receivables |
10. |
Investment accounts operated by Islamic banks are based on the concept of |
A. | wadiah |
B. | hibah |
C. | mudrabah |
D. | murabahah |
Answer» C. mudrabah |
11. |
Expression Finance Certificates & Certificate of Investment in Musharika is |
A. | liability side financing |
B. | liability |
C. | assets |
D. | assets side financing |
Answer» A. liability side financing |
12. |
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» D. all of answers are correct |
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. |
A bank is considered as a custodian and trustee of money is |
A. | wadiah |
B. | safekeeping |
C. | a & b |
D. | hibah |
Answer» C. a & b |
15. |
The appointment of shari ah scholar is done by |
A. | shareholders at annual general body meeting |
B. | the board of directors on behalf of the shareholders |
C. | by the relevant government authority like cma |
D. | all of the above |
Answer» B. the board of directors on behalf of the shareholders |
16. |
Earliest Islamic bank was established in Malaysia in |
A. | 1980 |
B. | 1983 |
C. | 1982 |
D. | 1988 |
Answer» B. 1983 |
17. |
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 |
18. |
Shirkat-ul-wujooh has its origin in Arabic word |
A. | wajahat |
B. | wajahee |
C. | waujooh |
D. | wajhee |
Answer» A. wajahat |
19. |
Word Musharika is originated from the |
A. | latin word |
B. | arabic word |
C. | persian word |
D. | french word |
Answer» B. arabic word |
20. |
International bodies dedicated to enhancing Islamic finance industry include |
A. | the international financial islamic financial market |
B. | islamic financial service board |
C. | accounting and auditing organization for islamic financial institutions |
D. | all of the above |
Answer» D. all of the above |
21. |
_____ is not a major component of the Islamic banking and finance industry. |
A. | islamic banking |
B. | conventional insurance |
C. | islamic capital markets |
D. | islamic non-bank financial institutions |
Answer» B. conventional insurance |
22. |
Examples of Islamic non-bank financial institutions include: |
A. | islamic leasing and factoring companies |
B. | islamic microfinance institutions |
C. | waqf management institutions |
D. | all of the above |
Answer» D. all of the above |
23. |
All financing in Islamic banking and finance can be conveniently classified under: |
A. | sharing modes |
B. | sale modes |
C. | leasing modes |
D. | any of the above modes |
Answer» D. any of the above modes |
24. |
Combination of capital is not compulsory is |
A. | basic rules of capital in musharika |
B. | basic rules of capital in ijarah |
C. | basic rules of capital |
D. | basic rules of capital in lease |
Answer» A. basic rules of capital in musharika |
25. |
Phrase that is not related to books of Fiqh is |
A. | shirkah |
B. | ijarah |
C. | musharika |
D. | sharing |
Answer» C. musharika |
26. |
First Islamic bank was recognized in |
A. | pakistan |
B. | oman |
C. | malaysia |
D. | qatar |
Answer» C. malaysia |
27. |
A joint project or partnership formation with profit/loss contribution implications that is used in Islamic finance as an alternative of interest-bearing loans is |
A. | ijarah |
B. | musharika |
C. | murabah |
D. | hibah |
Answer» C. murabah |
28. |
Profit is based on accord of parties, but loss is all time issue to proportion of |
A. | capital |
B. | investment |
C. | work |
D. | a & b |
Answer» D. a & b |
29. |
A number of Islamic banks were formed to provide to this particular banking market in late |
A. | 20th century |
B. | 19th century |
C. | 18th century |
D. | none of all of these |
Answer» A. 20th century |
30. |
Working capital financing in Musharika is |
A. | liability side financing |
B. | asset side financing |
C. | assets |
D. | liabilities |
Answer» B. asset side financing |
31. |
How much etc in Musharika is related to |
A. | quantified |
B. | ma'loom |
C. | specified |
D. | a & b |
Answer» D. a & b |
32. |
Products of first type may be given to Musharika in capital while second kind of products cannot be a part of capital observation of |
A. | imam maliki |
B. | imam hanafi |
C. | imam shafi |
D. | imam hanabli |
Answer» C. imam shafi |
33. |
Islamic banking structure is based on |
A. | risk sharing |
B. | interest sharing |
C. | a & b |
D. | premium sharing |
Answer» A. risk sharing |
34. |
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 |
35. |
Qur'an forbids |
A. | gambling |
B. | interest sharing |
C. | gharar |
D. | all of answers are correct |
Answer» D. all of answers are correct |
36. |
A pioneering attempt, in Shariah compliant investments banking was undertaken in 1963 in |
A. | oman |
B. | saudia arabia |
C. | egypt |
D. | pakistan |
Answer» C. egypt |
37. |
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 |
38. |
The term IDB stands for |
A. | islamic development bond. |
B. | islamic development bank. |
C. | islamic derivatives business. |
D. | islamic document bureau |
Answer» B. islamic development bank. |
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