Choose one answer for each questions, no need to explain. The bold is the questions and below are the answer choice Pure Mudharabah Model is described by the following features, except;" Investment profits, if any, will be shared according to an agreed ratio. The operator is rewarded as an agent that manages the Takaful on behalf of the participants Underwriting surplus, if any, will be returned back to the Takaful participants. The operator is rewarded with a commission which is tied with its performance Participant's Fund is meant for Saving Claim Reserves Expenses Based on Wadiah principle, Takaful operator may act as; Safe keeper Safe keeper, Trustee and Wakeel Safe keeper and Trustee Mudharib What is the role of a nominee? Trustee and Policyholder Executor and Manager Trustee and Executor Executor and Beneficiary Utmost good faith is breached by any of the following, EXCEPT: * Non-disclosure Concealment Mistake Fraudulent misrepresentation Which of the following statements is incorrect? A) None of these B) Mortality table refers to a statistical table showing the death rate at each age, usually expressed as the number of deaths. C) Indemnity refers to a restoration to the claimant of a loss by payment, repair or replacemen D) Maysir refers to one of the three fundamental prohibitions in Islamic finance which is often used as the grounds for criticism of conventional financial practices such as speculation, conventional insurance, and derivatives. A person has a full capacity upon reaching the age of a 15 16 18 17 Which one is the reasonable Shari'ah justification on Re-Takaful with Re-Insurance Company? A) Better coverage from Re-Insurance company than Re-Takaful company B) Low response from Re-Takaful company C) High risk bome by Re-Insurance company D) Limitation of Re-Takaful operator "Wait until the risk is gone then proceed with the event" best explains Risk reduction Risk transfer Risk avoidance Risk retention Choose one answer for each questions, no need to explain. The bold is the questions and below are the answer choice Pure Mudharabah Model is described by the following features, except;" Investment profits, if any, will be shared according to an agreed ratio. The operator is rewarded as an agent that manages the Takaful on behalf of the participants Underwriting surplus, if any, will be returned back to the Takaful participants. The operator is rewarded with a commission which is tied with its performance Participant's Fund is meant for Saving Claim Reserves Expenses Based on Wadiah principle, Takaful operator may act as; Safe keeper Safe keeper, Trustee and Wakeel Safe keeper and Trustee Mudharib What is the role of a nominee? Trustee and Policyholder Executor and Manager Trustee and Executor Executor and Beneficiary Utmost good faith is breached by any of the following, EXCEPT: * Non-disclosure Concealment Mistake Fraudulent misrepresentation Which of the following statements is incorrect? A) None of these B) Mortality table refers to a statistical table showing the death rate at each age, usually expressed as the number of deaths. C) Indemnity refers to a restoration to the claimant of a loss by payment, repair or replacemen D) Maysir refers to one of the three fundamental prohibitions in Islamic finance which is often used as the grounds for criticism of conventional financial practices such as speculation, conventional insurance, and derivatives. A person has a full capacity upon reaching the age of a 15 16 18 17 Which one is the reasonable Shari'ah justification on Re-Takaful with Re-Insurance Company? A) Better coverage from Re-Insurance company than Re-Takaful company B) Low response from Re-Takaful company C) High risk bome by Re-Insurance company D) Limitation of Re-Takaful operator "Wait until the risk is gone then proceed with the event" best explains Risk reduction Risk transfer Risk avoidance Risk retention
