MCQs on Islamic Commercial Banking - 5

1. Sukuk is Arabic name stand for

a. financial liabilities
b. financial certificates
c. financial assets
d. financial loans

Answer (b)

2. A type of partnership where one party offer funds while other gives expertise and
management is

a. murabaha
b. musharika
c. ijarah
d. mudarabah

Answer (d)

3. Word Musharika is originated from the

a. latin word
b. arabic word
c. persian word
d. french word

Answer (b)

4. Which is liability side financing out of these means

a. large enterprise financing
b. t-bills and federal investment bonds / debenture
c. inter- bank lending / borrowing
d. b & c

Answer (d)

5. Sharikah is chief term than

a. ijarah
b. murabaha
c. musharika
d. shirkat-ul-ainan

Answer (c)

6. Factually it means a credit sale is

a. baimuajjal
b. mudarabah
c. ijarah
d. murabaha

Answer (a)

7. 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)

8. The term Shirrkah – al- aqd in Islamic commercial law refers to a partnership or joint
venture formed by………

a. Payment of a fixed price
b. Safe keeping
c. Contract
d. Ruling by the shariah scholars

Answer (c)

9. The Islamic financial system prohibits transactions featuring

a. Extreme uncertainties resulting from speculation and gambling 
b. Sharing of profit and risk of loss 
c. Partnership agreements
d. Trading for profit

Answer (a)

10. Are Islamic banking products for Muslims only

a. For Muslims and and those non-Muslims who are allowed by Sharri'ah scholars.
b. No
c. Yes
d. For muslims and those who convert to muslims

Answer (b)
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