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Takaful chapter 7 general takaful Exam Questions and Answers 100% Pass
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...
- Examen
- • 6 pages •
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...
IBF- Topic #11 Takaful Questions and Answers 100% Correct
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...
- Examen
- • 3 pages •
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...
Topic 9 : Fundemantal Of Takaful Questions and Answers 100% Pass
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...
- Examen
- • 6 pages •
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...
Principles of takaful Exam Questions and Answers 100% Correct
Principles of takaful Exam Questions and 
Answers 100% Correct 
Call - Correct Answer ️️ -Sum of money put into a P&I risk-pool fund 
Gharar - Correct Answer ️️ -uncertainty
- Examen
- • 1 pages •
Principles of takaful Exam Questions and 
Answers 100% Correct 
Call - Correct Answer ️️ -Sum of money put into a P&I risk-pool fund 
Gharar - Correct Answer ️️ -uncertainty
Chapter 9 - General Insurance and Takaful Products Questions and Answers 100% Pass
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...
- Examen
- • 15 pages •
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 Exam Questions and Answers 100% Correct
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...
- Examen
- • 3 pages •
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...
Takaful definitions Questions with 100% Correct Answers
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 ...
- Package deal
- Examen
- • 4 pages •
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 ...
Takaful : Underwriting and Claims Management Exam Questions and Answers 100% Correct
Takaful : Underwriting and Claims 
Management Exam Questions and 
Answers 100% Correct 
Principles of Insurance that can be applied to takaful - Correct Answer ️️ -(1) 
permissible takaful interest (insureable interest) (2) utmost good faith (3) indemnity (4) 
subrogation (5) contribution (6) proximate cause. 
Underwriting - Correct Answer ️️ -Sign and accept liability under an insurance policy, 
thus guaranteeing payment in case of loss or damage occur. 
Insureable interest/permissible ...
- Package deal
- Examen
- • 2 pages •
Takaful : Underwriting and Claims 
Management Exam Questions and 
Answers 100% Correct 
Principles of Insurance that can be applied to takaful - Correct Answer ️️ -(1) 
permissible takaful interest (insureable interest) (2) utmost good faith (3) indemnity (4) 
subrogation (5) contribution (6) proximate cause. 
Underwriting - Correct Answer ️️ -Sign and accept liability under an insurance policy, 
thus guaranteeing payment in case of loss or damage occur. 
Insureable interest/permissible ...
Earth Science Exam Review 2024 with Complete Solutions
Hondros Nursing 172 Exam 2 Questions and Answers 100% Pass
Oregon Pesticide Examination: Ornamental and Turf Herbicide Questions and Answers 100% Pass
Xcel Solutions Property & Casualty Exam Questions and Answers
INSY-3303 FINAL EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS
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