Practice Questions

What is ‘Gharar’ in general Islamic ethics?

A. Honesty
B. Deception or uncertainty
C. Transparency
D. Trust
nmdcat.online BS Nursing
Jun 6, 2026

What is ‘Zulm’ in Islamic finance?

A. Justice
B. Unjust gain or oppression
C. Charity
D. Loan
nmdcat.online BS Nursing
Jun 6, 2026

What is ‘Maysir’ in Islamic finance?

A. Permissible gambling
B. Gambling or speculation
C. Fair trade
D. Interest
nmdcat.online BS Nursing
Jun 6, 2026

What is ‘Gharar’ in Islamic finance?

A. Clarity in contracts
B. Excessive uncertainty or ambiguity in a contract
C. Fairness in contracts
D. Transparency in contracts
nmdcat.online BS Nursing
Jun 6, 2026

What is ‘Istisna’?

A. A manufacturing contract where payment is made in installments
B. A fixed interest loan
C. Rental agreement
D. Partnership
nmdcat.online BS Nursing
Jun 6, 2026

What is ‘Salam’ in Islamic finance?

A. Advance payment for future delivery of goods
B. Interest-based loan
C. Rental agreement
D. Partnership
nmdcat.online BS Nursing
Jun 6, 2026

What is ‘Murabahah’ in Islamic finance?

A. Cost-plus financing (bank buys asset and sells to customer at markup)
B. Interest-based loan
C. Rental agreement
D. Partnership
nmdcat.online BS Nursing
Jun 6, 2026

What is ‘Musharakah’ in Islamic finance?

A. A partnership where both parties contribute capital and share profits/losses
B. A fixed interest loan
C. A charity
D. A gift
nmdcat.online BS Nursing
Jun 6, 2026

What is ‘Mudarabah’ in Islamic finance?

A. A partnership where one party provides capital and the other provides labor
B. A fixed interest loan
C. A charity
D. A gift
nmdcat.online BS Nursing
Jun 6, 2026

What is ‘Ijarah’ in Islamic finance?

A. Partnership
B. Lease or rent contract
C. Sale contract
D. Loan
nmdcat.online BS Nursing
Jun 6, 2026
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