Reference no: EM132961628

Problem 1: Initiative taken by Malaysian government in supporting Islamic Capital Market EXCEPT;

A) Addressing regulatory and tax issues.

B) Issuance of Islamic Capital Market guidelines.

C) Establishment of dedicated Shariah court to sit in judgment on matters relating to Islamic Capital Market.

D) Establishment of Shariah framework.

Problem 2: The description of Islamic letter of credit musharakah is/are as below:

A) The Islamic bank requires the customer to deposit a certain percentage of money prior to the importation of goods.

B) The Islamic bank will then issue an ILC and make the payment using both the customer's and its own funds.

C) The customer is responsible for selling the goods and returning the bank's portion of capital together with a predetermined portion of the profit.

D) All of the above.

Problem 3: Which statement is CORRECT about Takaful.

A) Takaful operator makes a profit when there are underwriting surplus.

B) Contract of exchange (sale and purchase) between insurer and insured.

C) Participant's duty to make contributions to the scheme and is expected to mutual share the surplus.

D) There is no restriction in investment of funds.

Problem 4: Islamic Bank Guarantee may fall into the following categories EXCEPT;

A) Tender Guarantee

B) Export Guarantee

C) Performance Guarantee

D) Guarantee of subcontracts