Islamic Financial Institutions Solved MCQs With PDF Download

20/02/2024, 06:21 Islamic Financial Institutions solved MCQs with PDF download
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1. An Ordinance was propagates to permit establishment of
A. mudaraba companies
B. musharika companies
C. murabah companies
D. all of answers are correct
Answer» A. mudaraba companies

discuss
2. Negotiation of a selling price among two parties exclusive of reference by seller to either
costs or asking price is
A. ijarah wa iqtna
B. ijarah
C. musawamah
D. musharika
Answer» C. musawamah
discuss
3. What is the most widely used Islamic mode of financing in asset side operation of Islamic
banks?
A. murabaha
B. ijarah
C. salam
D. diminishing musharakah
Answer» A. murabaha
https://mcqmate.com/topic/islamic-financial-institutions 1/13
discuss
4. The following items are major components of Islamic banking and finance except
A. islamic banking
B. takaful (insurance)
C. stock exchange
D. capital market
Answer» C. stock exchange

Search MCQ | Topic | Course discuss
5. Islamic bonds can be rated on the two basis
A. long term and short term
B. sovereign and corporate
C. public and private
D. none of the above
Answer» D. none of the above

discuss
6. Who bears the loss in wakalah
A. principal
B. wakeel
C. both together
Answer» B. wakeel
discuss
7. Securitization possible in
A. murabaha
B. ijara
C. both a and b
Answer» B. ijara
discuss
8. Islamic bank rely on the following two major sources of funds
A. transaction deposits and accounts receivables
B. investment deposit and current accounts
C. accounts payable and investment accounts
D. transaction deposits and investment deposits
Answer» D. transaction deposits and investment deposits

discuss
9. Which of the following is not a source of fund for Islamic banks?
A. current accounts
B. saving account
C. account receivables
D. investment account
Answer» C. account receivables

discuss
10. Investment accounts operated by Islamic banks are based on the concept of
A. wadiah
B. hibah
C. mudrabah
D. murabahah
Answer» C. mudrabah
discuss
11. Expression Finance Certificates & Certificate of Investment in Musharika is
A. liability side financing
B. liability
C. assets
D. assets side financing
Answer» A. liability side financing

discuss
12. What is asset side financing out of these means
A. large enterprise financing
B. import financing
C. letter of credit with margin (for musharika)
Answer» D. all of answers are correct

discuss
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
A. islamic banking
B. development bank
C. conventional banking
D. b& c
Answer» A. islamic banking

discuss
14. A bank is considered as a custodian and trustee of money is
A. wadiah
B. safekeeping
C. a & b
D. hibah
Answer» C. a & b
discuss
15. The appointment of shari ah scholar is done by
A. shareholders at annual general body meeting
B. the board of directors on behalf of the shareholders
C. by the relevant government authority like cma
D. all of the above
Answer» B. the board of directors on behalf of the shareholders

discuss
16. Earliest Islamic bank was established in Malaysia in
A. 1980
B. 1983
C. 1982
D. 1988
Answer» B. 1983
discuss
17. 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. mudarabah
discuss
18. Shirkat-ul-wujooh has its origin in Arabic word
A. wajahat
B. wajahee
C. waujooh
D. wajhee
Answer» A. wajahat
discuss
19. Word Musharika is originated from the
A. latin word
B. arabic word
C. persian word
D. french word
Answer» B. arabic word

discuss
20. International bodies dedicated to enhancing Islamic finance industry include
A. the international financial islamic financial market
B. islamic financial service board
C. accounting and auditing organization for islamic financial institutions
D. all of the above
Answer» D. all of the above

discuss
21. _____ is not a major component of the Islamic banking and finance industry.
A. islamic banking
B. conventional insurance
C. islamic capital markets
D. islamic non-bank financial institutions
Answer» B. conventional insurance

discuss
22. Examples of Islamic non-bank financial institutions include:
A. islamic leasing and factoring companies
B. islamic microfinance institutions
C. waqf management institutions
D. all of the above
Answer» D. all of the above

discuss
23. All financing in Islamic banking and finance can be conveniently classified under:
A. sharing modes
B. sale modes
C. leasing modes
D. any of the above modes
Answer» D. any of the above modes

discuss
24. Combination of capital is not compulsory is
A. basic rules of capital in musharika
B. basic rules of capital in ijarah
C. basic rules of capital
D. basic rules of capital in lease
Answer» A. basic rules of capital in musharika

discuss
25. Phrase that is not related to books of Fiqh is
A. shirkah
B. ijarah
C. musharika
D. sharing
Answer» C. musharika
discuss
26. First Islamic bank was recognized in
A. pakistan
B. oman
C. malaysia
D. qatar
Answer» C. malaysia
discuss
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
A. ijarah
B. musharika
C. murabah
D. hibah
Answer» C. murabah
discuss
28. Profit is based on accord of parties, but loss is all time issue to proportion of
A. capital
B. investment
C. work
D. a & b
Answer» D. a & b
discuss
29. A number of Islamic banks were formed to provide to this particular banking market in late
A. 20th century
B. 19th century
C. 18th century
D. none of all of these
Answer» A. 20th century

discuss
30. Working capital financing in Musharika is
A. liability side financing
B. asset side financing
C. assets
D. liabilities
Answer» B. asset side financing

discuss
31. How much etc in Musharika is related to
A. quantified
B. ma'loom
C. specified
D. a & b
Answer» D. a & b
discuss
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
A. imam maliki
B. imam hanafi
C. imam shafi
D. imam hanabli
Answer» C. imam shafi

discuss
33. Islamic banking structure is based on
A. risk sharing
B. interest sharing
C. a & b
D. premium sharing
Answer» A. risk sharing

discuss
34. 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. diminishing musharika

discuss
35. Qur'an forbids
A. gambling
B. interest sharing
C. gharar
Answer» D. all of answers are correct

discuss
36. A pioneering attempt, in Shariah compliant investments banking was undertaken in 1963 in
A. oman
B. saudia arabia
C. egypt
D. pakistan
Answer» C. egypt
discuss
37. Giving share of investor to customer on lease is the
A. basis of musharika
B. basis of diminishing musharika
C. basis of ijarah
D. basis of hibah
Answer» B. basis of diminishing musharika

discuss
38. The term IDB stands for
A. islamic development bond.
B. islamic development bank.
C. islamic derivatives business.
D. islamic document bureau
Answer» B. islamic development bank.

discuss
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20/02/2024, 06:21 Islamic Financial Institutions solved MCQs with PDF download

→ Bachelor of Commerce (B Com) → Islamic Financial Institutions → Set 1

Islamic Financial Institutions Solved MCQs

1. An Ordinance was propagates to permit establishment of

D. all of answers are correct

Answer» A. mudaraba companies

Answer» C. stock exchange

5. Islamic bonds can be rated on the two basis

A. long term and short term

B. sovereign and corporate

C. public and private

D. none of the above

Answer» D. none of the above

6. Who bears the loss in wakalah

D. none of the above

D. none of the above

8. Islamic bank rely on the following two major sources of funds

A. transaction deposits and accounts receivables

B. investment deposit and current accounts

C. accounts payable and investment accounts

D. transaction deposits and investment deposits

Answer» D. transaction deposits and investment deposits

9. Which of the following is not a source of fund for Islamic banks?

Answer» C. account receivables

11. Expression Finance Certificates & Certificate of Investment in Musharika is

A. liability side financing

D. assets side financing

Answer» A. liability side financing

12. What is asset side financing out of these means

A. large enterprise financing

C. letter of credit with margin (for musharika)

D. all of answers are correct

Answer» D. all of answers are correct

Answer» A. islamic banking

14. A bank is considered as a custodian and trustee of money is

15. The appointment of shari ah scholar is done by

A. shareholders at annual general body meeting

B. the board of directors on behalf of the shareholders

C. by the relevant government authority like cma

D. all of the above

Answer» B. the board of directors on behalf of the shareholders

16. Earliest Islamic bank was established in Malaysia in

18. Shirkat-ul-wujooh has its origin in Arabic word

19. Word Musharika is originated from the

Answer» B. arabic word

20. International bodies dedicated to enhancing Islamic finance industry include

A. the international financial islamic financial market

B. islamic financial service board

C. accounting and auditing organization for islamic financial institutions

D. all of the above

Answer» D. all of the above

C. islamic capital markets

D. islamic non-bank financial institutions

Answer» B. conventional insurance

22. Examples of Islamic non-bank financial institutions include:

A. islamic leasing and factoring companies

B. islamic microfinance institutions

C. waqf management institutions

D. all of the above

Answer» D. all of the above

D. any of the above modes

Answer» D. any of the above modes