MCQ Bank
Which Takaful model is free from the major Sharia’h objections?
- A) Mudaraba Model
- B) Waqf Wakalah Model
- C) None of the given
- D) Wakalah model
Which of the following is NOT the compensation for the Takaful Company?
- A) Capital gain
- B) Share of profit as Mudarib
- C) Return on Investment
- D) Wakalah Fee
Which type of collateral was accepted by Grameen bank to facilitate the poor with loans?
- A) Legal Collateral
- B) Social Collateral
- C) None of the given
- D) Physical Collateral
The word Takaful is derived from:
- A) Kafalah
- B) Kifl
- C) None of the given
- D) Kafeel
Which of the following is not included in the category of general Insurance?
- A) Life Insurance
- B) Marine Insurance
- C) Health Insurance
- D) Liability Insurance
Which of the following is not true regarding partners of Musharakah?
- A) Partners should only be natural person
- B) Partners should be mature
- C) Partners should not be a minor
- D) Partners should be sound mind
Which of the following cannot be the part of capital in Musharakah?
- A) Liquid assets
- B) Fixed assets
- C) Commodities
- D) Debts
Developing a comprehensive Sharia’h compliance framework for all areas of operations of the IBI is the responsibility of:
- A) Sharia’h Advisor
- B) Sharia’h board
- C) Sharia’h scholar
- D) SBP’s central Sharia’h board
The event of Financial Credit crises in US happened in the year:
- A) 2008
- B) 2004
- C) 2001
- D) 1995
Which of the following prohibited element (s) is/are present in conventional insurance?
- A) Riba
- B) Gharar
- C) Qimar
- D) All of the given options
Standard No. 2 of AAOIFI provides the guidelines regarding:
- A) Electronic money
- B) Murabaha process flow
- C) Letter of guarantee
- D) Letter of credit
Which of the following is the second most used mode of finance by Islamic banks of Pakistan?
- A) Diminishing Musharakah
- B) Ijarah
- C) Murabaha
- D) Musharakah
Which of the following party will be appointed as an agent of bank in Import financing through Murabaha?
- A) Correspondent bank
- B) Exporter
- C) Importer
- D) Exporter’s bank
How many members are included in SBP’s central Sharia’h board?
- A) Three members
- B) Five members
- C) Two members
- D) Six members
In Home financing, Islamic bank sell its share to the client on:
- A) Historical Price
- B) Cost plus profit basis
- C) Market price
- D) Pre-agreed price
In Islamic law of contracts therefore, exchange of goods, receiving a gift, accepting a woman as wife through ______ and agreement on partnership etc. etc. come under the umbrella of “CONTRACT”.
- A) Marriage
- B) Nikah
- C) Will
- D) Society
Which of the following is an example of acceptable consideration in a contract?
- A) Fare
- B) Rent
- C) Price
- D) All of the given options
Accumulation of wealth is………………….in achieving good objects and leaving an estate to heirs.
- A) May be allowed by state
- B) Also allowed
- C) Not allowed
- D) Is allowed with some conditions
The following can avail of the right of making gift of his property only before lying on his deathbed.
- A) Manager
- B) Owner
- C) Beneficial
- D) Hiba
Which of the following is not a type of Shirkat-ul-Aqad?
- A) Shirkat-ul-Wojooh
- B) Shirkat-ul-Aloom
- C) Shirkat-ul-Aamal
- D) Shirkat-ul-Amwal