1. Who bears the loss in wakalah

a. Principal 
b. Wakeel
c. Both together 
d. None of the above

Answer (b)

2. Securitization possible in

a. Murabaha 
b. Ijara
c. Both a and b 
d. None of the above

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?

a. Current accounts 
b. Saving account
c. Account receivables 
d. Investment account

Answer (c)

5. Investment accounts operated by Islamic banks are based on the concept of

a. Wadiah 
b. Hibah
c. Mudrabah 
d. Murabahah

Answer (c)

6. Expression Finance Certificates & Certificate of Investment in Musharika is

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

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) 
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

a. islamic banking 
b. development Bank
c. conventional banking 
d. Both b& c

Answer (a)

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

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

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)