30. The Transaction in which cost and profit are known is referred as; a) Musharakah b) Murabaha c) Ijarah d) Salam 31. The price has to be paid in full in advance in; a) Istisna b) Salam c) Istijrar d) Ijarah 32. The Contract of exchange of money for money is known as; a) Bai Dayn b) Bai Urbun c) Bai Surf d) Bai Istisna 33. The sale of a commodity for another commodity is referred as; a) Bay b) Barter c) Sarf d) Sale 34. In order to eliminate the element of "uncertainty in the Takaful contract, which one of the following concept is incorporated; a) Taawun b) Tabarru c) Tawakul d) Tameen 37. Bai Makrooh is valid but not liked due to certain conditions except; a) Sale after Juma Azan b) Sale after hoarding c) Sale before Salaat d) Intervention of third party. 38. Which of the following is not the element of Bai Sahih; a) Saman b) Mubee c) Muta'aquadeen d) Rahn 39. Termination of Mudarabah comes into existence when a) Tenor matures b) Mudarib gives notice c) Both d) None 40. Under Islamic jurisprudence, _means a joint enterprise formed for conducting some business; a) Murabaha b) Musawama c) Mudaraba d) Musharaka 41. Ownership automatically comes into operation in which mode? a) Shirkat-Ul Agd b) Shirkat-Ul Amal c) Shirkat-ul Milk d) Shirkat-Ul Amwal 42. The word "Musharakah" is extracted from? a) Shariah b) Shaikh c) Shirkah d) Satan 43. Normal sale is also called a) Murabaha b) Musawama c) Musharakah d) Mugavada 44. In Murabaha Muajjal, what are deferred? a) Possession of Commodity b) Delivery of Commodity c) Price (Saman) d) None 35. The transfer of the debt from the transferor to the payer is known as; a) Wakala b) Kafala c) Hawala d) Musawamah 36. Hiba is; a) Compensatory contract b) Non compensatory contract c) Bilateral contract d) Multilateral Contract