CHAPTER 6 - ISLAMIC TRADE FINANCING

CHAPTER 6 - ISLAMIC TRADE FINANCING

University

12 Qs

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CHAPTER 6 - ISLAMIC TRADE FINANCING

CHAPTER 6 - ISLAMIC TRADE FINANCING

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University

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The followings explain how banks facilitate international trading EXCEPT:

Convert and trade foreign currencies

Invest money with the companies

Finance trade between companies and customers located in different countries

Simplify the process of corporate finance through its overseas branches

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Importer sells goods to buyer in other countries

TRUE

FALSE

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The function of letter of credit:

A letter offering loan for importer.

As a guarantee that importer will receive delivery from exporter

A letter which requires the importer to make immediate payment

As a guarantee that the exporter will receive full payment from the importer.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the letter of credit, who is the issuer of the LC?

Importer

Exporter

Importer's bank

Exporter's bank

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Identify the type of Islamic letter of credit (LC):

"Importer is required to deposit a portion of the price with the bank"

Wakalah LC

Murabahah LC

Musyarakah LC

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Identify the type of Islamic LC: "Bank makes profit from the mark up price of the goods"

Wakalah LC

Murabahah LC

Musyarakah LC

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Identify the type of Islamic LC:"Bank makes full payment using importer's money"

Wakalah LC

Murabahah LC

Musyarakah LC

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