a. Principal
b. Wakeel
c. Both together
c. Both together
d. None of the above
Answer (b)
2. Securitization possible in
Answer (b)
2. Securitization possible in
a. Murabaha
b. Ijara
c. Both a and b
c. Both a and b
d. None of the above
Answer (b)
3. Islamic bank rely on the following two major sources of funds
Answer (b)
3. Islamic bank rely on the following two major sources of funds
a. Transaction deposits and accounts receivables
b. Investment deposit and current accounts
c. Accounts payable and investment accounts
d. Transaction deposits and investment deposits
Answer (d)
4. Which of the following is not a source of fund for Islamic banks?
b. Investment deposit and current accounts
c. Accounts payable and investment accounts
d. Transaction deposits and investment deposits
Answer (d)
4. Which of the following is not a source of fund for Islamic banks?
a. Current accounts
b. Saving account
c. Account receivables
c. Account receivables
d. Investment account
Answer (c)
5. Investment accounts operated by Islamic banks are based on the concept of
Answer (c)
5. Investment accounts operated by Islamic banks are based on the concept of
a. Wadiah
b. Hibah
c. Mudrabah
c. Mudrabah
d. Murabahah
Answer (c)
6. Expression Finance Certificates & Certificate of Investment in Musharika is
Answer (c)
6. Expression Finance Certificates & Certificate of Investment in Musharika is
a. liability side financing
b. liability
c. assets
c. assets
d. assets side financing
Answer (a)
7. What is asset side financing out of these means
Answer (a)
7. What is asset side financing out of these means
a. large enterprise financing
b. import financing
c. Letter of credit with margin (for musharika)
c. Letter of credit with margin (for musharika)
d. all of answers are correct
Answer (d)
8. Banking or banking action that is consistent with main beliefs of Shariah and its
realistic application from beginning to end improvement of Islamic economics is
Answer (d)
8. Banking or banking action that is consistent with main beliefs of Shariah and its
realistic application from beginning to end improvement of Islamic economics is
a. islamic banking
b. development Bank
c. conventional banking
c. conventional banking
d. Both b& c
Answer (a)
9. A bank is considered as a custodian and trustee of money is
Answer (a)
9. A bank is considered as a custodian and trustee of money is
a. Wadiah
b. safekeeping
c. a & b
c. a & b
d. Hibah
Answer (c)
10. The appointment of shari ah scholar is done by
Answer (c)
10. The appointment of shari ah scholar is done by
a. Shareholders at annual general body meeting
b. The board of directors on behalf of the shareholders
c. By the relevant government authority like CMA
d. All of the above
Answer (b)
b. The board of directors on behalf of the shareholders
c. By the relevant government authority like CMA
d. All of the above
Answer (b)
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