Chap1: Islamic finance

Chap1: Islamic finance

University

10 Qs

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Chap1: Islamic finance

Chap1: Islamic finance

Assessment

Quiz

Other

University

Practice Problem

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Created by

Carina Gilbert

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. What is the primary difference between Islamic finance and conventional finance?

  a) Use of interest rates

   b) Investment in physical assets

   c) Adherence to Sharia law

   d) All of the above

a

b

c

d

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. Which of the following is prohibited in Islamic finance?

   a) Riba (interest)

   b) Gharar (uncertainty)

   c) Maysir (gambling)

  d) All of the above

a

b

c

d

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

3. What are the primary sources of Sharia law?

  a) Quran and Sunnah

   b) Ijma’ and Qiyas

   c) Quran and Hadith

   d) Both a and c

a

b

c

d

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4. Which of the following is a key feature of Islamic finance?

  a) Profit and loss sharing

   b) Fixed interest payments

   c) Speculative investments

   d) None of the above

a

b

c

d

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

5. What is the primary purpose of Maqasid al-Sharia in Islamic finance ?

   a) To ensure financial transactions are Sharia-compliant

   b) To promote risk and return in investments

   c) To facilitate international trade

   d) To ensure ethical and socially responsible finance

a

b

c

d

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

6. Which Islamic finance concept involves partnership where profits and losses are shared?

   a) Mudarabah

   b) Murabaha

   c) Ijara

   d) Sukuk

a

b

c

d

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

7. What is 'Murabaha' commonly used for in Islamic finance?

   a) Leasing agreements

   b) Profit-sharing investments

   c) Cost-plus financing

   d) Insurance contracts

a

b

c

d

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