MCQ Bank
Man has been appointed vicegerent on earth and he has been charged with the duty of achieving well-being …………………….
- A) In his name only
- B) In hereafter only
- C) In both worlds
- D) In this world only
One of the important condition for Muzarrah is that ….…………
- A) The land must be cultivable
- B) The land must be un-cultivable
- C) The land must be dry
- D) The land must be in dessert
Literal meaning of Riba is to?
- A) Decline
- B) Decrease
- C) Constant
- D) Increase
Hiba is an example of a non-compensatory contract.
- A) False
- B) True
- C)
- D)
Which of the following term is not part of the definition of Modarbah?
- A) Ras al Mal
- B) Madroob
- C) Rab al Mal
- D) Modarib
Which of the following is not the right of an individual regarding ownership of goods and property?
- A) The right to use for family-benefit
- B) The right to use for self-benefit
- C) The right to use for public-benefit
- D) The right to use for self-destruction
To form a contract the expression of both offer and acceptance could be?
- A) Verbal
- B) Implied
- C) All of the given options
- D) Written
Islam allows a person to make a will of only …………….. portion of his estate.
- A) 25%
- B) 75%
- C) 33%
- D) 50%
Price will be made later on and subject matter will also be delivered later on is called……………..
- A) Deferred price sale
- B) Future sale
- C) Spot price sale
- D) Advance sale
The term of accepting or rejecting the goods on inspection in a sale is called…………….
- A) Khiyaar-e-Aib
- B) Khiyaar-e-Shart
- C) Khiyaar-e-Roiyyat
- D) Khiyaar-e-Ghaban
Which of the following is a social disaster that ruined a large number of families?
- A) Business
- B) Gambling
- C) Charity
- D) Social work
Which of the following is not a mode of ownership of goods?
- A) Through inheritance
- B) Through contract
- C) Through increase in value
- D) Through stealing
In an Islamic contract the consideration ……………left to be determined on a later date.
- A) Is always
- B) Can be
- C) Must be
- D) Can not be
Which of the following transactions may be called as Bai Muqayazah?
- A) Exchange of barley for 190 Rupees
- B) Exchange of rice for 170 Rupees
- C) All of the given options
- D) Exchange of rice with wheat
In a Musharakah business the profit is shared among partners as per…………………..
- A) On the basis of hours worked by each partner
- B) Equal share to each partner
- C) Capital contribution made by each partner
- D) Specific ratio decided by partners
Ownership of benefits of a physical item is………………..
- A) Incremental with time always
- B) Decremental with time always
- C) Time bound
- D) Not time bound
Which of the following type of spending is not allowed in Islam?
- A) Lottery
- B) Health
- C) Cloth
- D) Food
Islamic Financial law is termed as………………….
- A) Fiqh-ul-Muammalat
- B) Fiqh-ul-Ibadah
- C) Fiqh-ul-Hanfiah
- D) Fiqh-ul-Jaffariah
In a Musharakah business the loss is shared among partners as per…………………..
- A) On the basis of hours worked by each partner
- B) Capital contribution made by each partner
- C) Specific ratio decided by partners
- D) Equal share to each partner
Which of the following is not a condition for Shirakat-ul-Mufawadah?
- A) The capital investment of the parties should not be equal
- B) The capital investment of the parties should be equal
- C) All parties should be of sound mind, adult and free
- D) Each party should represent the other