MCQs on Islamic Financial Institutions - 1

1. First Islamic bank was recognized in

a. Pakistan 
b. Oman
c. Malaysia 
d. Qatar

Answer (c)

2. A joint project or partnership formation with profit/loss contribution implications that
is used in Islamic finance as an alternative of interest-bearing loans is

a. ijarah 
b. musharika
c. murabah 
d. hibah

Answer (c)

3. Profit is based on accord of parties, but loss is all time issue to proportion of

a. capital 
b. investment
c. work 
d.Both a & b

Answer (d)

4. A number of Islamic banks were formed to provide to this particular banking market in late

a. 20th century 
b. 19th century
c. 18th century 
d. none of all of these

Answer (a)

5. A bank is considered as a custodian and trustee of money is

a. Wadiah 
b. safekeeping
c. Both a & b 
d. Hibah

Answer (c)

6. Working capital financing in Musharika is

a. liability side financing 
b. asset side financing
c. assets 
d. liabilities

Answer (b)

7. How much etc in Musharika is related to

a. quantified 
b. ma'loom
c. specified 
d. Both a & b

Answer (d)

8. Products of first type may be given to Musharika in capital while second kind of products
cannot be a part of capital observation of

a. Imam Maliki 
b. Imam Hanafi
c. Imam Shafi 
d. Imam Hanabli

Answer (c)

9. Islamic banking structure is based on

a. risk sharing 
b. interest sharing
c. Both a & b 
d. premium sharing

Answer (a)

10. An investor and his customer contribute either in shared possession of an assets or equipment, or in a combined commercial venture is

a. diminishing musharika 
b. musharika
c. ijarah 
d. salam

Answer (a)
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