Quiz on Waqf and Zakat Management

What is the primary objective of waqf in Islamic finance?

• Wealth accumulation

• Economic stability

• Philanthropy and social welfare

• Profit maximization

Which of the following is NOT a condition for a valid waqf?

• Permanence

• Specific dedication

• Public benefit

• Revocability

Who is responsible for managing the waqf property?

• Mutawalli

• Nazir

• Mujtahid

• Qadhi

What is the Arabic term for the beneficiary of zakat?

• Mustahiq

• Muhtaj

• Faqir

• Gharim

The nisab for zakat on gold is equivalent to how many grams?

• 75 grams

• 85 grams

• 95 grams

• 100 grams

What is the minimum zakat rate for agricultural produce?

• 2.5%

• 5%

• 7.5%

• 10%

Which verse of the Quran mandates the giving of zakat?

• Surah Al-Baqarah 2:110

• Surah At-Tawbah 9:103

• Surah Al-Maidah 5:3

• Surah An-Nisa 4:36

Which of the following assets is zakat NOT applicable to?

• Livestock

• Land used for personal housing

• Business inventory

• Cash savings

What type of waqf is established for general public benefits, such as roads and mosques?

• Waqf khas

• Waqf am

• Waqf alal aulad

• Waqf mutlaq

What is the term for waqf that is specifically designated for family members?

• Waqf am

• Waqf alal aulad

• Waqf istibdal

• Waqf khas