Questions and Answers About Takaful.

Questions and Answers About Takaful.

What is Takaful? Is Takaful Insurance? This is some Questions and Answers About Takaful.

Questions

1. What is the meaning of Takaful?
A Type of Islamic insurance wherein members contribute money into a pool system to guarantee each other against loss or damage.
B A scheme to channel aid to the poor
C A savings to assist the government in developing the country.
D A scheme that has objectives for long-term investment

2. A normal insurance contract can be defined as an agreement whereby an insurer undertakes (in return for the agreed premium) to pay a policyholder a sum of money (or its equivalent) on the occurrence of a specified event. The statement refer to
A General Insurance B Takaful
C Conventional Insurance

3. Takaful Business is based on
A Mudarabah and Gharar B Wakala and Tabarru
C Riba and Gharar D Mudarabah and Tabarru

4. Which act is used for the formation of Takaful Business in Malaysia?
A Takaful Act 1896 B Takaful Act 1988
C Takaful Act 1984

5. What is the function of Syariah Supervisor Council?
A To advise the Takaful Company on its operations in order to ensure that it is not involved in Riba
B To advise the Takaful Company on its operations in order to ensure that it is involved in Riba

6. Which of the following is not Takaful Models?
A Waqf B Wakala
C Mudaraba D Tabarru

7. Motor takaful will NOT cover the following:
A Your own death or bodily jury due to a motor accident
B Damage to vehicle unless the vehicle is damaged at the same time.
C Loss, damage or liability occurring inside the geographical area

8. “Covers the loss or damage to the contents of your residential property.” refer to
A Houseowner Takaful B Householder Takaful

9. The objective of Fire Takaful plan is:
A To obtain coverage in the event of death prior to maturity of the plan from a mutual aid scheme.
B To save life of the insured
C To earn profit in accordance with Syariah

10. Which of the following is not the benefit of Takaful Insurance
A To earn investment return through Riba B To values of honesty, truthfulness and love of goodness to others,
C To give commitment to the provision of Syariah

11. Takaful is the same as insurance
A Yes
B No

12.Takaful is an islamic insurance system.
A True
B False

13. Takaful is shariah-compliant while insurance is not.
A False
B True

14. There are elements of uncertainty, gambling and riba’ in insurance.
A Yes
B No

15. Takaful is a protection plan based on Shariah principles.
A False B True

16. Tabarru’ is a sincere donation granted by one party by not requesting exchanges/consideration from the other party.
A False B True

17. Takaful, an Arabic word meaning “contributor undertake a contract ”
A True B False

18. A takaful contract must be based on principles of co-operation, protection and
____________________
A dakwah B mutual responsibility
C istiqomah D sharing profit

19. _______ is involved in contracts where the ownership of a good depends on the occurrence of
a predetermined
A Maisir B Non interest
C Riba D Aqad

20. _______ is a speculative transactions that involves excessive risk and supposed to foster uncertainty and fraudulent behaviour which makes the trade similar to gambling
A Non interest B Gharar
C Maisir D Riba

21. Under Mudharabah, Takaful operator become business partner with participants
A True B False

22. Under Wakala, Takaful operator as an ______ of the participants
A supplier B assistant
C agent D policy owner

23. There is 3 types of Takaful, that is Family Takaful Business (Islamic life insurance), General Takaful Business and Asset Takaful
A False B True

24. P.A. takaful cover provides 24-hour worldwide coverage
A True B False

Answer Key

1. a 2. c 3. d 4. c
5. a 6. d 7. a 8. b
9. a 10. a 11.b 12.a
13.b 14.a 15. b 16. b 17. b 18. b
19. a 20. b 21. a 22. c
23. a 24. a

 

 

 

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