Objective of wealth planning and management

Assignment Help Business Management
Reference no: EM132830228

1.The whole objective of wealth planning and management is

Select one:

a. to ensure that the cash flow and liquidity requirements are met

b.Basically the same as the objective of retirement planning

c.To be able to meet the necessary needs of this life all the time and to be sure that our dependents are also well looked after

d.To be able to live a comfortable life during retirement

2.Waqf is..............

Select one:

a. i- one of the ways to be close to Allah

b. i and ii

c.ii- one of the ways to purify one's wealth

3.Using the life cycle theory, clients of which of the following phases have both large investment needs and high risk tolerance?

Select one:

a.Approaching retirement

b.Post-retirement

c.Early family formation

d.Wealth accumulation

4.Which of the following is NOT a step in the Financial Planning Process?

Select one:

a.Preparation of a Financial Services Guide

b.Develop financial goals

c.Identify financial problems

d.Recommendations and implementation

5."Rights to wealth determine the relative power and ranks of a person"

Select one:

a.Belongs to the Socialist concept

b.Belongs to the Capitalist, Socialist and Islamic concepts

c.Belongs to the Islamic concept

d.Belongs to the Capitalist concept

6.The difference between conventional and Islamic estate planning is

Select one:

a.Islamic estate planning considers the distribution of estate after death through the Islamic law of inheritance or fara'id but not in conventional estate planning

b.Islamic estate planning takes into consideration the need for purification of the wealth through payment of zakat and other voluntary gifts whereas conventional estate planning does not need for purification of the wealth

c.Islamic estate planning must fulfil the Shariah requirements whereas conventional estate planning does not need to fulfil Shariah requirements

d.All Statements

7.Risk arises from trading of assets because of change in asset prices and exchange rates is classified as

Select one:

a.asset risk

b.exchange risk

c.trade risk

d.market risk

8.Insurance and takaful or Islamic insurance are useful because

i- It helps us to mitigate our risks

ii-It creates instant estate

iii- It helps to replace our losses when mishap happens

Select one:

a. i and ii

b. ii

c. i, ii and iii

9.The conditions for zakat to be obligatory are:

i- There must be complete ownership of the wealth

ii- There must be sufficient wealth to cover the nisaab

iii- The wealth has been held for one lunar year

Select one:

a. i, ii, and iii

b .iii

c. i

d. ii and iii

10.Which of the following statements is true?

Select one:

a. Zakat can be distributed to anyone

b.Zakat is compulsory for all Muslims

c.Zakat was made obligatory during the Makkah period

Reference no: EM132830228

Questions Cloud

Market segmentation and targeting for bass pro shop : What problem does your product or service solve? Describe the total market for your solution: Who are potential customers?
Research the supply chain for coffee roasting : Research the supply chain for coffee roasting. Find out 3 improvements that could be made to the environmental sustainability of the supply chain.
What exactly is disease management : What exactly is Disease Management? Provide some examples of diseases which may benefit well from a DM model of care.
Founding and mission of the nonprofit organization : Explain which theory or theories might best explain the founding and mission of the nonprofit organization The American Diabetes Association.
Objective of wealth planning and management : 1.The whole objective of wealth planning and management is
Determine the manufacturing overhead : Using the traditional method of cost allocation determine the manufacturing overhead that will be allocated to Job #007 Apollo and Job # 510 Mars
Assignment on business ethics : A well-known athlete is charged with selling drugs and planning and carrying out, with others, the death of a young married couple. His attorney calls
Types of information required for the two-days conference : Explain the types of information required for the two-days conference.
Describe three key issues for each social force : Research the student population and neighborhood demographics of your immediate area such as your county or city and the demographics of your state.

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd