MCQ Bank
Transfer of an interest or right in immovable property to the creditor is called:
- A) Pledge
- B) Hypothecation
- C) Mortgage
- D) Lien
To perform an act on behalf of any other person is called:
- A) Kafala
- B) Hawala
- C) Agency
- D) Guarantee
Which of the following is TRUE about ‘Salam’?
- A) Both the delivery of goods and payment of price are deferred
- B) Payment is made in advance and delivery of good is deferred
- C) Both the delivery of goods and the payment of prices are made at the time of sale
- D) Delivery of goods is made at the time of sale and payment is deferred
All of the followings are the essentials of a simple mortgage EXCEPT:
- A) The obligation to pay may be expressed or implied
- B) There is personal obligation to pay the debt
- C) Possession of mortgaged property is delivered
- D) No power of selling the mortgaged property without out court order
All of the followings are the rules of Sharikatul-Amwal (investment partnership) EXCEPT:
- A) Goods are allowed as capital after their valuation
- B) Subject matter of partnership must be a lawful trade
- C) Capital of partnership should be in monetary form
- D) Capital of partnership should be in equal form
Which of the following is the exception to the general rules of sale?
- A) Salam
- B) Murabaha
- C) Juala
- D) Musawamah
If a person provides surety ship for the production of accused in the court of law, then this type of surety ship is called:
- A) Kafalah for person
- B) Kafalah for debt
- C) Kafalah for property
- D) Kafalah for delivery
If the bank buys goods already owned by the customer on cash and sells them back to customer on credit at a higher price, then it will be called as:
- A) Inah
- B) Tawarruq
- C) Organized Tawarruq
- D) Istisna
If the pledge be a living animal, feeding expenses will be borne by the:
- A) Guarantor
- B) Agent
- C) Pledger
- D) Pledgee