BNK610 Grand Quiz Spring 2020

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Please share your Grand Quiz.

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Which of the following is not the function of a central bank?
Issuance of currency
Formulating the monetary policy
Formulating the monetary policy
Formulating the monetary policy

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Identify the reason why the concept of Hire-Purchase is not permitted by Islamic Sharia’h
It is based on combination of two contracts at the same time
The price of asset becomes far more than the market price
The price of asset becomes far more than the market price
The price of asset becomes far more than the market price

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A type of sale in which a commodity is sold at the cost price is known as:
Bai’ Musawamah
Bai’ Murabaha
Bai’ Tawliyah
Bai’ Tawliyah

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Identify the factor (s) on which Islamic banks assign weights to the depositors.
Amount of deposit only
Time of deposit only
Amount of deposit and time of deposit
Nature of deposit

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Bai Inah is also known as:
Sale on deferred basis
Sale and buy back
Sale and lease back
Sale and lease back

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The partnership by ownership of a property is also known as:
Shirkat ul Aqd
Shirkat ul Wujooh
Shirkat ul Milk
Shirkat ul Ainan

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All of the following options can be opted by Islamic banks to dispose of the assets in Salam transactions, EXCEPT:
Enter into a Parallel Salam contract
Agency contract with the client or a third party
Sell the asset to the original seller in future
Enter into a Promise to Purchase with third party

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Riba al-Nasiyyah is also known as:
Riba Al-Hadith
Riba Al-Fadl
Riba Al-Jahiliyyah
None of the given options

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Bay’atan-fil-Bay refers to:

Combining two sales in one sale agreement
Act of false bidding to raise the price
Concealing the facts during sale
Sale of debt for debt

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Current account is also known as:
Demand deposit
Term deposit
Cash deposit
Time deposit

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The type of loan which draws no profit for the creditor is known as:
Qard
Dayn
Salaf
Sarf

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According to Islamic economic system the real ownership of all resources belongs to:
All Muslims
All Human Beings
Allah
Private Companies

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In Mudaraba contract, a person who invests the amount is known as:
Rab ul Maal
Mudarib
Mudarib
Raas ul Maal

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Which of the agreement is used by Islamic banks for car financing?
Ijarah Muntahiya bit Tamleek
Ijaratul Ashkhas
Hire-Purchase
Hire-Purchase

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Which of the following is not considered as the role of mudarib in Mudaraba contract?
Partner
Agent