1. An Ordinance was propagates to permit establishment of
Correct : A. mudaraba companies
2. Negotiation of a selling price among two parties exclusive of reference by seller to
either costs or asking price is
Correct : C. musawamah
3. What is the most widely used Islamic mode of financing in asset side operation of
Islamic banks?
Correct : A. murabaha
4. The following items are major components of Islamic banking and finance except
Correct : C. stock exchange
5. Islamic bonds can be rated on the two basis
Correct : D. none of the above
6. Who bears the loss in wakalah
Correct : B. wakeel
7. Securitization possible in
Correct : B. ijara
8. Islamic bank rely on the following two major sources of funds
Correct : D. transaction deposits and investment deposits
9. Which of the following is not a source of fund for Islamic banks?
Correct : C. account receivables
10. Investment accounts operated by Islamic banks are based on the concept of
Correct : C. mudrabah
11. Expression Finance Certificates & Certificate of Investment in Musharika is
Correct : A. liability side financing
12. What is asset side financing out of these means
Correct : D. all of answers are correct
13. 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
Correct : A. islamic banking
14. A bank is considered as a custodian and trustee of money is
Correct : C. a & b
15. The appointment of shari ah scholar is done by
Correct : B. the board of directors on behalf of the shareholders
16. Earliest Islamic bank was established in Malaysia in
Correct : B. 1983
17. A type of partnership where one party offer funds while other gives expertise and
management is
Correct : D. mudarabah
18. Shirkat-ul-wujooh has its origin in Arabic word
Correct : A. wajahat
19. Word Musharika is originated from the
Correct : B. arabic word
20. International bodies dedicated to enhancing Islamic finance industry include
Correct : D. all of the above
21. _____ is not a major component of the Islamic banking and finance industry.
Correct : B. conventional insurance
22. Examples of Islamic non-bank financial institutions include:
Correct : D. all of the above
23. All financing in Islamic banking and finance can be conveniently classified under:
Correct : D. any of the above modes
24. Combination of capital is not compulsory is
Correct : A. basic rules of capital in musharika
25. Phrase that is not related to books of Fiqh is
Correct : C. musharika
26. First Islamic bank was recognized in
Correct : C. malaysia
27. 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
Correct : C. murabah
28. Profit is based on accord of parties, but loss is all time issue to proportion of
Correct : D. a & b
29. A number of Islamic banks were formed to provide to this particular banking market in late
Correct : A. 20th century
30. Working capital financing in Musharika is
Correct : B. asset side financing
31. How much etc in Musharika is related to
Correct : D. a & b
32. Products of first type may be given to Musharika in capital while second kind of products
cannot be a part of capital observation of
Correct : C. imam shafi
33. Islamic banking structure is based on
Correct : A. risk sharing
34. An investor and his customer contribute either in shared possession of an assets or equipment,
or in a combined commercial venture is
Correct : A. diminishing musharika
35. Qur'an forbids
Correct : D. all of answers are correct
36. A pioneering attempt, in Shariah compliant investments banking was undertaken in 1963 in
Correct : C. egypt
37. Giving share of investor to customer on lease is the