Section A: Multiple Choice Questions (Maximum Marks: 60) 1.

. The foundations of the Islamic Economic System have been laid on the concept of ; a) Halal (lawful) an Haram (unlawful) b) Maximization of P ofit c) !iba d) "o din# of Money ( !a"e ##$ ) $. Islamic Economic System has int oduced the system of %%%%%% to ensu e the e&uitable dist ibution of 'ealth; a) System of (a)at b) System of Sada&at c) *olunta y +ont ibutions d) All a%o&e ( !a"e '$ ) ,. Islam follo's policy of %%%%%; a) T'o ext emes b) Middle 'ay c) -oth a . b d) /one of above ( !a"e #6 ) 0. Islam condemns; a) 1allah b) Mate ialism c) "onesty d) /one of above. () !iba 2Inte est) is acceptable and becomes la'ful if; a) If both Pa ties a e mutually a# eed b) If the ate of inte est is fixed fo a ce tain pe iod c) In both cases of a . b d) /ot acceptable in any case. 3. Islam has p ohibited ea nin# of income th ou#h p ofessions of; a) Sin#in# . 4ancin# b) 1o etelle . Ma#ician c) Speculation . Sho t sellin#. d) 5ll above. 6. The e a e %%% types of sale; a) 1ou types b) Th ee types c) 1ive types d) 7ne type ( !a"e #6* ) 8. Mu&aezah is a sale of ; a) + edit fo )ind b) +ash fo +ash c) 9ind fo 9ind d) /one of above ( !a"e +, ) :. S'ea in# in t ade is; a) is allo'ed to convince the buye b) is st ictly p ohibited c) it is acceptable as a ma )et p actice d) ;u an . "adith a e silent about this issue ( !a"e +( ) 1<. 1o 'a d T ansactions a e; a) allo'ed and app oved b) not allo'ed . disapp oved c) can be adopted on need basis d) ;u an . "adith a e silent about this issue ( !a"e *, ) 11. The basic p inciples of consumption laid do'n by Islam a e; a) T'o b) Th ee c) 1ou d) 1ive ( !a"e +' ) 1$. In Islamic Economic System; a) +apital is not t eated as a sepa ate 17P b) +apital is t eated as a thi d 17P c) +apital is t eated as fo th 17P d) /one of above ( !a"e #,+ ) 1,. 1o the fo mation of Muda abah; a) Minimum t'o pa ties a e e&ui ed b) Maximum t'o pa ties a e e&ui ed c) 7nly t'o pa ties a e e&ui ed d) 5ll above 10. In Muda abah fo m of business; a) 5ll pa ties invest and all 'o ) b) 7ne pa ty 'o )s and othe s invest c) 7ne pa ty invests and othe s 'o ) d) /one above. 1=. In Muda abah fo m of business; a) >oss is bo n by Muda ib only %) >oss is bo n by !ab?ul?Maal only c) >oss is bo n by both pa ties 2Muda ib . !ab?ul?Mall) d) /o one bea s loss at all. 13. In all )inds of Musha a)a@ the capital can be in shape of; a) !eceivables b) In )ind c) In cash d) In both b.c

16. Sale of 4ebt is called; a) -ai?al?4ain b) 4ebt se vicin# c) "a'ala d) /one of above 2 Pa#e 081) 18. Shi )at?ul?Sanai is a pa tne ship bet'een; a) Manual labo e s b) Aho a e enBoyin# #ood eputation c) 5bove a . b d) /one of above. 1:. If the Pa tne ship deed is silent@ the loss atio 'ill be; a) e&ual b) as pe capital atio c) above a . b d) none of above. ( !a"e ,'6 ) $<. The e a e t'o types of Shi )ah@ 'hich a e a) 21) Shi )atul Mufa'ada 2$) Shi )at?ul?5&d b) 21) 7ptional 2$) +ompulso y c) 21) Shi )at Cul?5&d 2$) Shi )at?ul?Mil) 2 Pa#e $8$) $1. Each type of Shi )at ul 5&d is fu the divided into t'o mo e types a) 21) Mufa'ada 2$)5m'al b) 21) 5m'al 2$) 5Dmal c) 21) 5inan 2$) Mufa'ada 2Pa#e $80) $$. In Mu abaha; a) Payment can be defe ed but delive y is spot b) Payment can be spot and delive y is defe ed c) -oth can be spot d) 5ll above ( !a"e ,(# ) $,. +lient 'ould delive the #oods to ban) afte manufactu in# in a) Mu abaha b) Salam c) Istisna d) Muda ahab $0. +lient could sold impo ted mate ial afte a) Mu abaha b) Musha a)a c) Istisna d) Muda abah $=. Ma )?up is the diffe ence bet'een the a) +ost and sellin# p ice b) -uyin# p ice and sellin# p ice c) Manufactu in# cost and lendin# p ice ( !a"e #(+ ) $3. In Musha a)ah@ the atio of dist ibution of p ofit should be a) In lump sum amount b) 5s a Ea#e of Investment c) 5s a Ea#e of P ofit d) 5ll of the above ( !a"e ,'6 ) $6. In Muda abah cont act@ Muda ib is a) Pa tne b) 5Bee c) 9?o'ne d) /one of the above $8. In Musha a)a@ the pa ties may be paid follo'in#?p ofit@ subBect to adBustment f om final p ofit dist ibution a) "alf b) 1ull c) P ovisional d) /one $:. Sale of fish in sea befo e ta)in# into custody is a) Fha a b) "alal t adin# c) /o m of ma )et d) /one of 5bove ,<. If the e is no p ofit in Muda abah@ Muda ib 'ill #et a) 1ee as bein# 5Bee b) /othin# c) Aould be compensated ,1. In Musha a)ah@ >iability of pa tne s is a) >imited b) Gnlimited c) 1ixed 5mount ,$. The asset is divided into units and # adually its o'ne ship is t ansfe ed f om -an) to client in a) Musha a)a b) IBa a c) 4imishin# Musha a)a d) Salam ,,. Gnde the p ocess of Salam the p ice is a) 4efe ed b) Paid Spot c) Paid in advance ,0. 17Ps 21acto s of p oduction) in socialism a e a) $ b) 0 c) , ( !a"e ##+ ) ,=. +ost is not evealed H disclosed in a) Salam b) Musa'ama c) Mu abaha d) IBa ah

,3. The ideal mode of finance fo a# icultu e secto is a) IBa a b) Musa'ama c) Salam ,6. !iba 5l 1adl is also )no'n as a) !iba 5l?;u an b) !iba 5l?/assya c) !iba 5l?"adith 2Pa#e 1,:) ,8. 5#ency a# eement could be made in a) Mu abaha and IBa a b) Mu abaha and Sale c) 5ll of the above ,:. -efo e sale@ the subBect matte should be in possession of a) Selle b) -uye c) -oth d) Thi d pa ty 0<. P ice could be paid in installments in a) Mu abaha b) Salam c) IBa a d) Istisna ( !a"e *-6 ) 01. Ma )et fo ces 'ill decide 'he e to invest the esou ces in %%%%%%% a) +apitalism b) Socialism c) -oth 2a) and 2b) d) /one of the above 0$. 5 condition in Islamic Shai ah@ 'hich is a#ainst the cont act 'ould be a) *alid b) *oid c) -oth ( !a"e ,(# ) +*. In a cont act@ offe and acceptance could be a) 7 al b) Implied c) -oth 00. Exchan#e of money 'ith #oods 'ithout havin# IBab?o?;abool fo p ocedu es adopted in contempo a y sto es is a) *alid b) *oid c) /ot applicable 0=. 5t the time of sale@ sold #oods o subBect matte must a) Exist and be valuable b) -e in the o'ne ship of selle c) /one of the above d) -oth 2a) and 2b) 03. It is necessa y fo all pa tne s to invest +apital in a) Shi )atul 5Dmal b) Muda aba c) Shi )at?ul?5m'al d) IBa ah 2Pa#e $80) 06. !i#ht to 'ealth is 'ith Fove nmentHstate is a) Islamic Economic System b) +apitalism c) Socialism 08. +han#e of c edito implyin# t ansfe of i#ht in a) 9afalah b) !ahn c) "a'alah 0:. The e is no investment of capital in a) Shi )at?ul?5Dmal b) Muda aba c) Shi )at?ul?5m'al 2 Pa#e $80) =<. The pa tne s sha e capital@ mana#ement@ p ofit and is) in absolute e&uals in a) Shi )at?ul?5iman b) Mufa'ada c) Shi )at?ul?AaBooh 2 Pa#e $80) =1. The pa tne s sha e capital@ mana#ement@ p ofit@ and is) in une&ual p opo tions in a) Shi )at ul 5inan b) Shi )at?ul Mufa'ada c) Shi )at?ul?AaBooh2 Pa#e $80) =$. !iba discussed in "oly ;u an is a) !iba ul /asiyah b) !iba ul 1adal c) !iba ul "adith 2 Pa#e 1,6) =,. Six specific commodities mentioned in "adith a e a) #old@ silve @ 'heat@ dates@ ice@ ba ley b) #old@ silve @ 'heat@ ba ley@ dates@ salt c) #old@ silve @ dates@ cotton@ ice@ ba ley@ 2 Pa#e 1,:) =0. The pa tne 'ho can not #et p ofit mo e than of its investment sha e is a) Sleepin# pa tne b) Ao )in# pa tne c) 5ctive pa tne d) /one of the above ==. Te mination of Musha a)ah 'ith one pa tne means te mination 'ith a) 7nly that pa tne b) 5ll pa tne s c) /one of the above

=3. Ma )et fo ces 'ill decide 'he e to invest the esou ces in a) Islamic Economic System b) +apitalism c) Socialism =6. Inte est paid on loans ta)en fo p oductive and p ofitable pu pose is called a) TiBa ati Sood b) Sa fi Sood c) !iba ul fadal =8. The )ind of sale in 'hich payment is spot 'hile the delive y of the #ood is defe ed is called; a) Istisna b) Salam c) IstiB a d) IBa ah =:. If Muda abah become void due to any eason Muda ib 'ill be; a) Sha ee) b) (amin c) 5Bee d) Aa)eel ( !a"e *#- )

3<. The a# eement bet'een -an) and Savin# account holde is a) ;a d b) Shi )ah c) Muda abah d) Muda abah Mushta i)ah ( !a"e *,( )

Section .: /rue or 0alse (Maximum Marks: +0) 1. In Musha a)ah all pa ties 'ill sha e in p ofit and loss as a#ainst of Muda abah. 1alse $. The e a e = sou ces of Sha iah. 1alse ,. +ate#o ies of Sha iah a e Ilm?ul?5&aDid@ 1i&h and Ilm?al?"adith. 0. IBma supe sedes IBtihad in Sha iah. =. The e a e , 17P 21acto of p oduction) in Socialism. T ue 2Pa#e 8=) 3. Ma)in# money out of money is cont a y to Islamic >a'. 6. The e a e , basic elements in a valid sale. 1alse 2Pa#e 133) 8. Inte est paid on loans ta)en fo p oductive and p ofitable pu pose is called Su fi Sood :. Ma )?up is the diffe ence bet'een the cost and sellin# p ice 1<. Fa a means ce tainty. 1alse 11. The e a e , cate#o ies of Sha iah. 1$. Sale of unbo n baby is Fha a .T ue 1,. Sale of fish on a# eed p ice is Fha a . T ue 10. ;ima is that event in 'hich the e is a possibility of total loss to one pa ty. T ue 1=. 4iminishin# Musha a)a is a type of Moda aba. 13. Shi )at?ul?5&d is divided into th ee types. T ue 2 Pa#e $8$) 16. If assets a e not li&uid thei valuation must be done to dist ibute sha es. 18. Shi )at?ul?5m'al is pa tne ship in #ood 'ill. 1alse 2Pa#e $80) 1:. Sha e of capital must be in cash in Musha a)ah. $<. 4ebt could be sold at any value. 1alse $1. The e a e th ee types of 5hadith $$. "adith supe sedes IBtihad in Sha iah. T ue

$,. 5dvance payment is not necessa y in Istisna cont act. 1alse $0. The atio of p ofit dist ibution must be a# eed at the time of dist ibution of p ofit in Muda abah and Musha a)ah a# eements. 1alse $=. Te mination of Musha a)ah 'ith one pa tne means te mination 'ith othe pa tne s. T ue $3. If the e is mutual consent bet'een t'o pa ties@ they a e pe mitted unde Islamic Sha iah to ente into any t ansaction amon# themselves. T ue $6. 4eposit side of an Islamic ban) can be st uctu ed on the basis of Shi )at?ul?5&d. $8. Islamic Sha iah does not pe mit one to do a sale t ansaction contin#ent on a futu e date. T ue $:. SaleHPu chase of eve y )ind of #oods is allo'ed@ as T ade is not p ohibited. 1alse ,<. 5ny excess o fixed compensation in a sale t ansaction is !iba 1alse ,1. In Musha a)ah@ the sha e of loss is al'ays e&ual to the p ofit atio 1alse ,$. 5 condition@ 'hich is not a#ainst the cont act@ is a valid condition. T ue ,,. The +apital in a Musha a)ah can be in li&uid fo m. ,0. Eve y loan that d a's p ofit is one of the fo ms of !iba. T ue ,=. 5 +ont act cannot be executed th ou#h spo)en 'o ds. T ue ,3. Sale must be non?contin#ent is one of the conditions of +ont act ,6. Salam is allo'ed only fo 5# icultu e Secto T ue ,8. In Mu abahah@ eve y )ind of loss is al'ays the liability of the pu chase ,:. In Shi )ah?5l?Mil)@ one pa tne can #ua antee the othe pa tne . 0<. In Shi )ah?5l?AoBooh the p ofit must be dist ibuted E&ually 1alse

1nstructions: ? +omplete the I-lue Shaded 5 eaD only ? 4o not ' ite any comments on this sheet@ o it 'ill be eBected

Student /ame !e#ist ation +ode 4ate of Submission

M ) 2aker Hossain C103)*+6)CA),6( 0e%ruar4 0'5 ,0#0

Section A: Multiple Choice Questions 1o each &uestion@ ente the co ect choice 2e.#. 5 o - o + o 4) 1 3 11 13 $1 $3 ,1 ,3 01 03 =1 =3 5 4 4 + + + 5 + 5 $ 6 1$ 16 $$ $6 ,$ ,6 0$ 06 =$ =6 4 5 5 5 5 + + + 5 5 , 8 1, 18 $, $8 ,, ,8 0, 08 =, =8 + 5 + + + 5 + 5 0 : 10 1: $0 $: ,0 ,: 00 0: =0 =: 4 5 5 5 5 5 5 + = 1< 1= $< $= ,< ,= 0< 0= =< == 3< 4 + 5 4 4 -

Section .: /rue or 0alse

1 3 11 13 $1 $3 ,1 ,3

T!GE T!GE 15>SE T!GE 15>SE T!GE 15>SE T!GE

$ 6 1$ 16 $$ $6 ,$ ,6

15>SE 15>SE T!GE T!GE T!GE 15>SE T!GE T!GE

, 8 1, 18 $, $8 ,, ,8

15>SE 15>SE 15>SE 15>SE 15>SE T!GE T!GE T!GE

0 : 10 1: $0 $: ,0 ,:

15>SE T!GE T!GE 15>SE 15>SE 15>SE T!GE T!GE

= 1< 1= $< $= ,< ,= 0<

15>SE 15>SE 15>SE 15>SE T!GE 15>SE T!GE 15>SE