MCQ Bank
How many members are included in SBP’s central Sharia’h board?
- A) Three members
- B) Six members
- C) Two members
- D) Five members
Which of the following statement shows the presence of Maysir in an Insurance contract?
- A) None of the given
- B) Maturity of contract is uncertain
- C) Compensation is dependent on a certain event
- D) Premium is predefined
The State Bank of Pakistan provides an Islamic export refinance scheme (IERS) on the basis of:
- A) Musharakah
- B) Istisna
- C) Salam
- D) Ijarah
Which of the following is not an operational Takaful Model?
- A) Mudarabah Model
- B) Waqf Wakalah Model
- C) Wakalah Model
- D) Salam Model
When did the Takaful rules prepare in Pakistan?
- A) 1998
- B) 2006
- C) 1987
- D) 2005
Institution of Aqilah dealt with:
- A) The guardianship of the minors
- B) The payment of blood money
- C) The payment of the outstanding debt
- D) The supervision of the minors
Which of the following facility does not come under Microfinance?
- A) Encourage saving
- B) Microcredit
- C) Raising standard of living
- D) Car leasing
In Mudaraba Takaful model, Takaful Company acts as a _______ of the participants:
- A) Principal
- B) Partner
- C) Investor
- D) Agent
When did Pak Kuwait Takaful Company start its operation in Pakistan?
- A) 1998
- B) 2006
- C) 2005
- D) 1987
Which of the following Islamic contract is based on the Risk Sharing principle?
- A) Murabaha
- B) Ijarah
- C) Musharaka
- D) Takaful
Which mode may be used by the Microfinance bank to help a small manufacturer to purchase inputs?
- A) Mudarabah
- B) Istisna
- C) Qard e Hasan
- D) Salam
Which rule prevails in the event of Takaful and Insurance rules conflict?
- A) Insurance Rules
- B) Takaful Rules
- C) None of the given
- D) Insurance Ordinance
Conventional Insurance is based on the principle of:
- A) Risk Sharing
- B) Risk avoidance
- C) Risk Transfer
- D) Risk Retention
In Wakalah Takaful model, Takaful Company acts as _______ of the participants:
- A) Partner
- B) Investor
- C) Agent
- D) Principal
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