Question 1: MCQs 1) Which one of the following is considered liability account for an Islamic bank? a) Current deposit b) Saving deposits Long term deposit d) All of the above 2) Which one of the following is considered equity account for an Islamic bank? a) Deposits ) Investment account Profits and losses account ) All of the above 3) Investment account whose funds could be invested only in activity complied with Islamic Shari'ah is Restricted account Unrestricted account Yes Yes No No a) b) Yes No Yes No 4) Investment account whose funds could be invested only in activity complied with Islamic Shari ah and specified by depositor is Restricted account restricted account Yes Yes No No e) Yes No Yes g) 5) An income statement of Islamic banks a) Summarizes the changes in shareholders' equity for a specific period of time. b Presents the revenues and expenses for a specific period of time c) Reports the changes in assets, liabilities, and shareholders' equity over a period of time. d) Reports the assets, liabilities, and shareholders' equity at a specific date. 6) Which one of the following is considered an indirect income for an Islamic bank? a) income from operations b) Income from sales and investment accounts c) Fees from opening different accounts Which one of the following is considered a direct income for an Islamic bank? a) Income from operations b) Income from sales c) Income from investments accounts d) All of the above 8) Which one of the following is considered an indirect expense for an Islamic bank? a) Expenses from operations b) Cost of sales and investments accounts c) Salaries of employees d) All of the above 9) Profit from operations of an Islamic bank is a) A bank gross profit b) Operating income less direct costs c) Direct income less operating costs d) All of the above 14)Direct costs are shared by both Islamic bank and depositors under: PM Yes Yes No No SIAM Yes No Yes No a) c) 15)Overhead and administrative expenses are shared by both Islamic bank and PM Yes Yes No No SIAM Yes No Yes No a) c) 16)Overhead and administrative expenses are borne only by Islamic bank under: SIAM Yes No Yes No Yes No No