Practice Questions

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

What is ‘Bay’ (or Bay’) in Islamic finance?

A. Lending money
B. Trading or sale contract ✓
C. Giving gifts
D. Borrowing money
nmdcat.online BS Nursing
Jun 6, 2026
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