Question 1

The first Muslim coins were struck during the Caliphate of Umar, which ushered in a new economic regime in the Islamic state.

Accepted Answer

A) True 
 B)False

Question 2

The global financial crises of 2008-2010 has hindered the acceptance of Islamic banking and finance as an alternative to the conventional financial system.

Accepted Answer

A) True 
 B)False

Question 3

Islamic finance, as an ethical, interest-free regime built on PLS, is meant:

Accepted Answer

A)  only for Muslims 
B)  for Muslims and non-Muslims only in commercial transactions 
C)  for Muslims and non-Muslims only in personal finance 
D)  as an alternative to conventional finance 
A)  only for Muslims 
B)  for Muslims and non-Muslims only in commercial transactions 
C)  for Muslims and non-Muslims only in personal finance 
D)  as an alternative to conventional finance

Question 4

The following modes. of transactions were prevailing during the Prophet's lifetime:

Accepted Answer

A)  shirkah partnership. based on profit and loss sharing PLS. 
B)  al qard al hasan benevolent loan. 
C)  salam forward. contract 
D)  all of the above 
A)  shirkah partnership. based on profit and loss sharing PLS. 
B)  al qard al hasan benevolent loan. 
C)  salam forward. contract 
D)  all of the above

Question 5

Among the prohibited transactions which were common during the prophet's era include excessive risk or speculation.

Accepted Answer

A) True 
 B)False

Question 6

What is the main difference between the Islamic Development Bank IDB. and the Dubai Islamic Bank DIB.?

Accepted Answer

The IDB is a multilateral development fi

Question 7

Islamic state originally issued its first Islamic dirham, contained the crescent, the star and bismillah across its margins during the Umayyad era.

Accepted Answer

A) True 
 B)False

Question 8

Leading banks and financial institutions in Europe and America are reluctant to open Islamic banking windows or subsidiaries.

Accepted Answer

A) True 
 B)False

Question 9

The embryonic stage of modern Islamic banking and finance is best identified with the 1960s pockets of experiments in Islamic banking in Egypt, Malaysia, and Pakistan.

Accepted Answer

A) True 
 B)False

Question 10

Describe the three models of Islamic banking in practice Islamic banking component..

Accepted Answer

The Islamic banking component may be ful

Question 11

Identify at least six supporting institutions that are necessary for sustainable practices in the Islamic banking and finance industry

Accepted Answer

The architectural and infrastructural el

Question 12

The Islamic finance industry has demonstrated its resilience and feasibility evidenced by its continuous growth at the time of global financial crisis.

Accepted Answer

A) True 
 B)False

Question 13

The form of riba prohibited in the Qur'an is riba al-fadl, the exchange of superior goods with more inferior ones.

Accepted Answer

A) True 
 B)False

Question 14

The first full-fledged world Islamic commercial bank was established in Jeddah/Saudi Arabia in 1975.

Accepted Answer

A) True 
 B)False

Question 15

The market players in the Islamic Capital Market ICM. include all of the following EXCEPT:

Accepted Answer

A)  brokerage houses 
B)  Islamic leasing companies 
C)  fund management institutions 
D)  Islamic asset management institutions 
A)  brokerage houses 
B)  Islamic leasing companies 
C)  fund management institutions 
D)  Islamic asset management institutions

Question 16

Islamic finance has the potential of being an alternative mode of finance in the modern world.

Accepted Answer

A) True 
 B)False

Question 17

The significance of zakat is largely attributed to its effectiveness as a distributive tool in the process of wealth circulation and social security.

Accepted Answer

A) True 
 B)False

Question 18

The first modern financial institutions were created in the early 1900s as profit-maximization institutions.

Accepted Answer

A) True 
 B)False

Question 19

Any form of banking and financial institution that is consistent with the principles of the Sharī'ah can be referred to as Islamic bank or financial institution.

Accepted Answer

A) True 
 B)False

Question 20

All financing in Islamic banking and finance can be conveniently classified under:

Accepted Answer

A)  sharing modes 
B)  sale modes 
C)  leasing modes 
D)  any of the above modes 
A)  sharing modes 
B)  sale modes 
C)  leasing modes 
D)  any of the above modes

The first Muslim coins were struck during the Caliphate of Umar, which ushered in a new economic regime in the Islamic state.

The global financial crises of 2008-2010 has hindered the acceptance of Islamic banking and finance as an alternative to the conventional financial system.

Islamic finance, as an ethical, interest-free regime built on PLS, is meant:

The following modes. of transactions were prevailing during the Prophet's lifetime:

Among the prohibited transactions which were common during the prophet's era include excessive risk or speculation.

What is the main difference between the Islamic Development Bank IDB. and the Dubai Islamic Bank DIB.?

Islamic state originally issued its first Islamic dirham, contained the crescent, the star and bismillah across its margins during the Umayyad era.

Leading banks and financial institutions in Europe and America are reluctant to open Islamic banking windows or subsidiaries.

The embryonic stage of modern Islamic banking and finance is best identified with the 1960s pockets of experiments in Islamic banking in Egypt, Malaysia, and Pakistan.

Describe the three models of Islamic banking in practice Islamic banking component..

Identify at least six supporting institutions that are necessary for sustainable practices in the Islamic banking and finance industry

The Islamic finance industry has demonstrated its resilience and feasibility evidenced by its continuous growth at the time of global financial crisis.

The form of riba prohibited in the Qur'an is riba al-fadl, the exchange of superior goods with more inferior ones.

The first full-fledged world Islamic commercial bank was established in Jeddah/Saudi Arabia in 1975.

The market players in the Islamic Capital Market ICM. include all of the following EXCEPT:

Islamic finance has the potential of being an alternative mode of finance in the modern world.

The significance of zakat is largely attributed to its effectiveness as a distributive tool in the process of wealth circulation and social security.

The first modern financial institutions were created in the early 1900s as profit-maximization institutions.

Any form of banking and financial institution that is consistent with the principles of the Sharī'ah can be referred to as Islamic bank or financial institution.

All financing in Islamic banking and finance can be conveniently classified under:

Islamic Law of Contract

Financial Instruments of Islamic Banking and Finance

Financial Accounting of Islamic Banking Products

Corporate Governance for Islamic Financial Institutions

Islamic Asset and Fund Management

Islamic Bonds

Islamic Insurance Takaful

Islamic Microfinance

Risk Management in Islamic Finance

Filters

Exam 1: Islamic Banking and Finance: Principles and Practice

The first Muslim coins were struck during the Caliphate of Umar, which ushered in a new economic regime in the Islamic state.

The global financial crises of 2008-2010 has hindered the acceptance of Islamic banking and finance as an alternative to the conventional financial system.

Islamic finance, as an ethical, interest-free regime built on PLS, is meant:

The following modes. of transactions were prevailing during the Prophet's lifetime:

Among the prohibited transactions which were common during the prophet's era include excessive risk or speculation.

What is the main difference between the Islamic Development Bank IDB. and the Dubai Islamic Bank DIB.?

Islamic state originally issued its first Islamic dirham, contained the crescent, the star and bismillah across its margins during the Umayyad era.

Leading banks and financial institutions in Europe and America are reluctant to open Islamic banking windows or subsidiaries.

The embryonic stage of modern Islamic banking and finance is best identified with the 1960s pockets of experiments in Islamic banking in Egypt, Malaysia, and Pakistan.

Describe the three models of Islamic banking in practice Islamic banking component..

Identify at least six supporting institutions that are necessary for sustainable practices in the Islamic banking and finance industry

The Islamic finance industry has demonstrated its resilience and feasibility evidenced by its continuous growth at the time of global financial crisis.

The form of riba prohibited in the Qur'an is riba al-fadl, the exchange of superior goods with more inferior ones.

The first full-fledged world Islamic commercial bank was established in Jeddah/Saudi Arabia in 1975.

The market players in the Islamic Capital Market ICM. include all of the following EXCEPT:

Islamic finance has the potential of being an alternative mode of finance in the modern world.

The significance of zakat is largely attributed to its effectiveness as a distributive tool in the process of wealth circulation and social security.

The first modern financial institutions were created in the early 1900s as profit-maximization institutions.

Any form of banking and financial institution that is consistent with the principles of the Sharī'ah can be referred to as Islamic bank or financial institution.

All financing in Islamic banking and finance can be conveniently classified under:

Islamic Law of Contract

Financial Instruments of Islamic Banking and Finance

Financial Accounting of Islamic Banking Products

Corporate Governance for Islamic Financial Institutions

Islamic Asset and Fund Management

Islamic Bonds

Islamic Insurance Takaful

Islamic Microfinance

Risk Management in Islamic Finance

Filters