MCQs on Islamic Investment Funds and Insurance

1. Participation of takaful make ……….…. to the takaful fund. 
a)donation 
b) contribution 
c) qard 
d) premium 

Answer: (a)

2. ………….. is a profit sharing contact whereby one party provides the capital and others party supply the expertice 
a)mudarabah 
b)takaful operator 
c)salam 
d)istisha 

Answer: (a)

3. In the context of takaful…………. are the capital provider 
a)Participants 
b)takaful operator 
c)employee 
d)manager 

Answer: (a)

4. ………..is the contract whereby one party acts on the behalf of another for a fee 
a)rahan 
b)mudarabah 
c)wakala 
d)salam 

Answer: (c)

5. The takaful operator manages the takaful fund on behalf of the partcipants for a fixed fee called a……….. 
a)takaful fee 
b)sukuk fee 
c)wakalah fee 
d)rahan 

Answer: (c)

6. In mudaraba contract capital provides is known……………. 
a)Rab-al-maal 
b)mudarib 
c)fund supplier 
d)wakila 

Answer: (a)

7. Takaful contribution are paid on the basis………for the purpose of providing benifits for choose who have suffered a loss 
a)tabarru 
b)premium 
c)contribution 
d)rahan 

Answer: (a)

8. ……….. takaful products which can cover private dwellings 
a)motor takaful 
b)marine takaful 
c)fire takaful 
d)family takaful 

Answer: (c)

9. takaful covers the strike,riot& civil commotion 
a) T. fire 
b)motor 
c)marine 
d)engineer 

Answer: (a)

10)The mortage takaful plan is a specific plan offered for ………… 
a)house buyers 
b)vehicle buyers 
c)group plans 
d)family plans 

Answer: (a)

11)Retakaful means………. 
a)reinsurance 
b)double insurance 
c)insurance 
d)contribution 

Answer: (a)

12)Riba means……….. 
a)usury 
b)gampling 
c)uncertinity 
d)donation 

Answer: (a)

13)…………..refers to purposive cheating and deceptive 
a)guarar 
b)riba 
c) kafalah 
d)speculation 

Answer: (a)

14)An alternative to the contemporary insurance contract is ………. 
a)sukuk 
b)rahan 
c)qard 
d)takaful 

Answer: (d)

15)………. Negotiable financial instruments 
a)takaful 
b)sukuk 
c)equity 
d)rahan 

Answer: (b)

16)………..refers to any action taken to protect any one of the five basic objectives of the shariah 
a)maslahah 
b)fiqh 
c)fatwa 
d)dayn 

Answer: (a)

17) F T S E stands for 
a) financial times stock exchange 
b) financial times share exchange 
c) final time stock exchange 
d)financial sukuk exchange 

Answer: (a)

18) D J I M stands for 
a) Dow Jones Islamic market index 
b) Doe Jonydudau market index 
c)DownJoco Islamic market 
d) Dow Jones Islamic Market 

Answer: (a)

19)…………… is a contract according to which a party purchases and couses out equipment by the clint for rental for 
a) sukuk -al-ijarah 
b) sukuku -al-salam 
c) sukuk-al-istisha 
d) sukukul-al-musharaka 

Answer: (a)

20)………… based sukuk represents ownership of equal shares in the usufruct of the arsel 
a)Ijara 
b) salam 
c)mudarabah 
d) Istisna 

Answer: (a)

21) sukuku -al …………. Are issued with the aim of mobilising the funds required for production 
a) Ijara 
b) Musharakah 
c) Istisna 
d) salam 

Answer: (c)

22)……….. sukuk is not tradable in the secondary market 
a) Istisna 
b) Ijara 
c) salam 
d) mubarah 

Answer: (a)

23) sukuk is an arabic word which means …………… 
a) certificate 
b) Insurance 
c) donation 
d) capital 

Answer: (a)

24) sukuk structure is always ………. 
a)Asset backed 
b)May not be backed by asset 
c)May or may not backed by the asset 
d)Backed by the only in tangible asset 

Answer: (a)

25)SPV stands for ……….. 
a) Special private vehicle 
b) Special purpose vehicle 
c) Special purpose values 
d) None of these 

Answer: (b)

26) commercial papper is a ………………… 
a) short term borrowings 
b) long term borrowings 
c) medium term borrowings 
d) over draft 

Answer: (a)

27)…………… funds are similar to the sowallyresponsibe investment 
a) equity fund 
b) hedge fund 
c) commodity fund 
d)mixed fund 

Answer: (a)

28) commodity funds are used in purchasing ………………. For resale 
a) fixed asset 
b)goods 
c)short sale 
d) forward sale 

Answer: (b)

29 )AA O I F I stands for 
a) accounting and auditing organisation for Islamic financial institution 
b) auditing and accounting organ for Islamic financial 
c) auditing and accounting organisation for Indian financial institution 
d) accounting and auditing orientation for Islamic financial institution 

Answer: (a)

30)…………invt vehicles that pool the money to buy and sell commercial properties 
a) real estate 
b) hedge fund 
c) Ijra fund 
d) venture capital 

Answer: (a)

31) an investment fund that pools capacity from accredited or institutional investors and invest in a verity of asset is called ………. 
a) Real estate fund 
b) sukuk 
c) hedge fund 
d) project financing 

Answer: (c)

32) ……….. fund manager picks a stock whols market price will fall at a future date 
a) Bai-Al-Arbur 
b) Bai-al-salam 
c)sale and promise 
d) wa’dan 

Answer: (a)

33) Capital investment in risky,new and high growth potential business is called ………… 
a) hedge financing 
b) venture capital 
c) Real estate 
d) Risky business 

Answer: (b)

34)………. Risk arise due to delay in settlement 
a) liquidity risk 
b)foreign exchange 
c)rate of return risk 
d)default risk 

Answer: (d)

35)any unfavourable fluctuations in exchange rate will affect the sukuk asset is called …….. 
a) foreign exchange 
b) coupon rate risk 
c) default risk 
d) liquidity risk 

Answer: (a)

36) sukuk rating is used to evaluate the ………. Of the companies 
a) credit or the hers 
b) employee performance 
c) company performance 
d) share holders value 

Answer: (a)

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