Takaful Study guides, Study notes & Summaries

Chapter 9 - General Insurance and Takaful Products Questions and Answers 100% Pass Types of Motor Takaful Cover - Correct Answer ️️ -Motorcycle Private Car Commercial Vehicle Taxi Buses Tankers Act Only - Correct Answer ️️ -Third party bodily injury Third Party Cover - Correct Answer ️️ -Third party bodily injury Third party property damage. Third Party Fire and Theft - Correct Answer ️️ -Third party bodily injury Third party property damage Fire or theft Comprehen...

Takaful chapter 7 general takaful Exam Questions and Answers 100% Pass Briefly explain General Takaful plan and its scheme. - Correct Answer ️️ -1. General Takaful plans or schemes are basically on a short-term basis (normally one year) between a group of participants to provide mutual compensation in the event of a defined loss. 2. It is designed to meet the needs for protection of individuals and corporate bodies in relation to material loss or damage resulting from a catastrophe o...

Takaful chapter 7 general takaful Exam Questions and Answers 100% Pass Briefly explain General Takaful plan and its scheme. - Correct Answer ️️ -1. General Takaful plans or schemes are basically on a short-term basis (normally one year) between a group of participants to provide mutual compensation in the event of a defined loss. 2. It is designed to meet the needs for protection of individuals and corporate bodies in relation to material loss or damage resulting from a catastrophe o...

Chapter 9 - General Insurance and Takaful Products Questions and Answers 100% Pass Types of Motor Takaful Cover - Correct Answer ️️ -Motorcycle Private Car Commercial Vehicle Taxi Buses Tankers Act Only - Correct Answer ️️ -Third party bodily injury Third Party Cover - Correct Answer ️️ -Third party bodily injury Third party property damage. Third Party Fire and Theft - Correct Answer ️️ -Third party bodily injury Third party property damage Fire or theft Comprehen...

Types of Motor Takaful Cover - Answer-Motorcycle Private Car Commercial Vehicle Taxi Buses Tankers Act Only - Answer-Third party bodily injury Third Party Cover - Answer-Third party bodily injury Third party property damage. Third Party Fire and Theft - Answer-Third party bodily injury Third party property damage Fire or theft Comprehensive Cover - Answer-Own damage Bodily injury Property damageLoss or Damage to Vehicle - Answer-Accidental collision or overturning. Collision or ov...

Topic 9 : Fundemantal Of Takaful Questions and Answers 100% Pass Islam and Insurance - Correct Answer ️️ -Insurance operation did not confirm to Islamic Law due to the existance these elements. Element that make insurance did not confirm in Islam - Correct Answer ️️ -Gharar- uncertainty Maisir- gambling Riba- usury/ interest Gharar - Correct Answer ️️ -- what being bought is not clearly defined/uncertainty - existance of uncertainty in contract : 1. premium payment nsation...

Briefly explain General Takaful plan and its scheme. - Answer-1. General Takaful plans or schemes are basically on a short-term basis (normally one year) between a group of participants to provide mutual compensation in the event of a defined loss. 2. It is designed to meet the needs for protection of individuals and corporate bodies in relation to material loss or damage resulting from a catastrophe or disaster inflicted upon properties, assets or belongings of participants during the per...

Takaful Exam Questions and Answers 100% Correct Contractual Relationship between Participants and the Takaful Operator - Correct Answer ️️ --Mudharabah -Wakalah -Ju'alah -Wadi'ah Yad Damanah Mudharabah - Correct Answer ️️ --means giving specified amount of capital to another person who will trade with the capital for the purpose of sharing the profits generated according to a pre-agreed ratio. -participants contribute money to fund. takaful operator manages fund. -profit shar...

IBF- Topic #11 Takaful Questions and Answers 100% Correct 3 Concepts of Insurance - Correct Answer ️️ -1- transfer of risk from individuals to insurance operator. 2- Ensure against pure risk only, not speculative risk. 3- Insurance as business, with profit maximization objectives. 4 Reasons why conventional insurance is not shari'ah compliance - Correct Answer ️️ -1- Element of Riba. 2- Element of Gambling. 3- Element of Uncertainty. 4- Gharar in modern day financial transactions...

Takaful definitions Questions with 100% Correct Answers Risk Management - Correct Answer ️️ -Identification analysis and economic control of those risks which can threaten the assets or earning capacity of an enterprise. Insurable Interest - Correct Answer ️️ -The legal right to insure arising out of a financial relationship, recognised at law, the subject matter of insurance. Insurance Contract - Correct Answer ️️ -An agreement, enforceable by law, between two or more persons ...