Takaful Risk Mastery

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Risk mgmt in Takaful basics

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Haziem Arma

Malaysia

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Froggy Jumps Takaful Risk MasteryOnline version Risk mgmt in Takaful basics by Haziem Arma 1 Which principle underpins risk-sharing in Takaful (mutual help and cooperation)? a Profit-driven risk transfer b Compulsory risk avoidance c Ta'awun (mutual cooperation) 2 What is a primary method to diversify risk in a Takaful pool? a Risk pooling among participants b Individual risk isolation c Single-point investment strategy 3 Which risk is specifically a concern for Shariah-compliant investments in Takaful? a Credit risk only b Market timing risk c Shariah compliance risk 4 What is the purpose of the risk reserve or surplus in a Takaful fund? a Pay claims and maintain solvency b Fund speculative investments c Distribute profits to shareholders 5 How does Takaful differ from conventional insurance in risk retention? a Participants share risk and funds with operator managing b Operators fully guarantee profits c Policyholders bear no risk 6 What is re-takaful? a Policy cancellation service b Takaful for risk transfer between operators c Personal risk transfer to individuals 7 Which body ensures Shariah compliance in a Takaful company? a Shariah Supervisory Board b Audit Committee c Executive Risk Committee 8 How is underwriting risk typically addressed in Takaful? a Ignoring risk factors b Random risk acceptance c Pricing and risk selection controls 9 What stress test is commonly used in Takaful risk management? a No stress testing used b Only marketing stress tests c Liquidity and solvency stress scenarios 10 What is a core governance requirement for Takaful risk management? a Risk management framework aligned with Shariah b Secrecy of risks c Uncoordinated ad-hoc controls

Froggy Jumps

Takaful Risk MasteryOnline version

Risk mgmt in Takaful basics

by Haziem Arma

Which principle underpins risk-sharing in Takaful (mutual help and cooperation)?

Profit-driven risk transfer

Compulsory risk avoidance

Ta'awun (mutual cooperation)

What is a primary method to diversify risk in a Takaful pool?

Risk pooling among participants

Individual risk isolation

Single-point investment strategy

Which risk is specifically a concern for Shariah-compliant investments in Takaful?

Credit risk only

Market timing risk

Shariah compliance risk

What is the purpose of the risk reserve or surplus in a Takaful fund?

Pay claims and maintain solvency

Fund speculative investments

Distribute profits to shareholders

How does Takaful differ from conventional insurance in risk retention?

Participants share risk and funds with operator managing

Operators fully guarantee profits

Policyholders bear no risk

What is re-takaful?

Policy cancellation service

Takaful for risk transfer between operators

Personal risk transfer to individuals

Which body ensures Shariah compliance in a Takaful company?

Shariah Supervisory Board

Audit Committee

Executive Risk Committee

How is underwriting risk typically addressed in Takaful?

Ignoring risk factors

Random risk acceptance

Pricing and risk selection controls

What stress test is commonly used in Takaful risk management?

No stress testing used

Only marketing stress tests

Liquidity and solvency stress scenarios

What is a core governance requirement for Takaful risk management?

Risk management framework aligned with Shariah

Secrecy of risks

Uncoordinated ad-hoc controls

You can integrate the game into an LMS compatible with LTI 1.1 or LTI 1.3 such as Canvas, Moodle, or Blackboard. This way, the scores will be automatically saved into the platform’s gradebook.

Takaful Risk Mastery

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Takaful Risk MasteryOnline version

by Haziem Arma

Which principle underpins risk-sharing in Takaful (mutual help and cooperation)?

What is a primary method to diversify risk in a Takaful pool?

Which risk is specifically a concern for Shariah-compliant investments in Takaful?

What is the purpose of the risk reserve or surplus in a Takaful fund?

How does Takaful differ from conventional insurance in risk retention?

What is re-takaful?

Which body ensures Shariah compliance in a Takaful company?

How is underwriting risk typically addressed in Takaful?

What stress test is commonly used in Takaful risk management?

What is a core governance requirement for Takaful risk management?

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