Answer to following multiple choice questions?
6. Murabaha is a ___________ based contract.
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a. |
Agency |
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b. |
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c. |
Rental |
d. Sale
7. Which of the following is not a correct statement about the lease rentals?
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a. |
It should be fixed for the entire lease period |
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b. |
Fixing is not allowed in any case () |
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c. |
It can be tied up to a known benchmark acceptable to both the parties |
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d. |
It can be fixed on periodic basis but periodic increment should be agreed upon |
8.
Two or more persons are the joint owners of an asset and they have no intention of the business based on this partnership. This type of shirkat is called
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a. |
Shirkat-ul-Mufawada |
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b. |
Shirkat-ul-Amwal |
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c. |
Shirkat-ul-Aamal |
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d. |
Shirkat-ul-Inan |
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e. |
Shirkat-ul-Wujooh |
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f. |
Shirkat-ul-Milk |
9.
When is the title of the asset transferred in Ijarah (Al-Muntahiyah Bit Tamleek) to the client?
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a. |
At the end of lease if client purchases and bank sells the asset to client |
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b. |
At the end of the lease automatically () |
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c. |
At the start of lease |
d. Does not transfer
10. In participation/partnership based contracts, ______ is always subject to the ratio of investment while _________ distribution is based on pre-agreed ratio.
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a. |
Profit, Profit |
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b. |
Loss, Profit |
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c. |
Profit, Loss |
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d. |
Loss, Loss |
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