Understanding Islamic Financial Contracts

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FIN546

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nur khairuna

Malaysia

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Froggy Jumps Understanding Islamic Financial ContractsOnline version FIN546 by nur khairuna 1 What type of primary sources of islamic finance? a the holy Al-Quran & sunnah b murabahah c tawarruq 2 In islamic finance, we need avoid from a riba, gharar & maysir b musharakah c bai bithaman ajil 3 Which of the following is NOT allowed in Bay Al-Salam ? a Standardized commodities b Uncertain quantity of goods c payment for business service 4 What a correct definition of gharar? a additional charge or interest imposed on a loan that is prohibited in Islam b profit sharing sales c uncertainty or ambiguity in a contract 5 In Bay Al-Salam, the goods must be a unique artwork only b clearly described in quantity and quality c capital provider & entrepreneur 6 Tawarruq means? a forward sale with full advance payment b buying a commodity on deferred payment and selling it to a third party for cash c exchange must be hand-to-hand 7 What are the three main elements of a Shariah contract ? a seller, buyer and contract b form of contract, subject matter of contract and contracting parties c riba, masyir and gharar 8 Bai Al- Istisna' is a contract for a manufacturing or construction by order b debt settlement c currency notes 9 Literal meaning of ijarah is a payment must be spot only b buying a commodity on deferred payment and selling it to a third party for cash c reward given for service rendered 10 Murabahah known as a charity partnership b mark-up sale c manufacturing sale

Froggy Jumps

Understanding Islamic Financial ContractsOnline version

FIN546

by nur khairuna

What type of primary sources of islamic finance?

the holy Al-Quran & sunnah

murabahah

tawarruq

In islamic finance, we need avoid from

riba, gharar & maysir

musharakah

bai bithaman ajil

Which of the following is NOT allowed in Bay Al-Salam ?

Standardized commodities

Uncertain quantity of goods

payment for business service

What a correct definition of gharar?

additional charge or interest imposed on a loan that is prohibited in Islam

profit sharing sales

uncertainty or ambiguity in a contract

In Bay Al-Salam, the goods must be

unique artwork only

clearly described in quantity and quality

capital provider & entrepreneur

Tawarruq means?

forward sale with full advance payment

buying a commodity on deferred payment and selling it to a third party for cash

exchange must be hand-to-hand

What are the three main elements of a Shariah contract ?

seller, buyer and contract

form of contract, subject matter of contract and contracting parties

riba, masyir and gharar

Bai Al- Istisna' is a contract for

manufacturing or construction by order

debt settlement

currency notes

Literal meaning of ijarah is

payment must be spot only

buying a commodity on deferred payment and selling it to a third party for cash

reward given for service rendered

Murabahah known as

charity partnership

mark-up sale

manufacturing sale

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Understanding Islamic Financial Contracts

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Understanding Islamic Financial ContractsOnline version

by nur khairuna

What type of primary sources of islamic finance?

In islamic finance, we need avoid from

Which of the following is NOT allowed in Bay Al-Salam ?

What a correct definition of gharar?

In Bay Al-Salam, the goods must be

Tawarruq means?

What are the three main elements of a Shariah contract ?

Bai Al- Istisna' is a contract for

Literal meaning of ijarah is

Murabahah known as

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