Quiz - Test Your Knowledge

Q1    What is Takaful Ta'awuni?
	Form of Islamic Finance
	System of Helping Orphans
	Cooperative group risk-sharing
	Ancient method of trading
Q2    Are all Kinds of insurance haram?
	No - if takaful model
	yes - all insurance is against Tawakkul
	Nil
	Nil
Q3    Which element is not part of Takaful model?
	Sharia Complaince
	Policy holders are owners of the Takaful fund
	Ethical business operations
	Premiums invested in equities including beer bottling
Q4    Conventional insurance is objectionable to Muslims because … (complete the sentence)
	It contains elements of al gharar, al riba and al masir
	It earns profits
	It provides a wide range of insurance products
	It is founded and managed by stockholders
Q5    Who owns the Takaful Fund?
	The founders and shareholders of Takaful
	The insurance regulators
	The Policyholders who contribute premiums
	The Reinsurers
Q6    How is the Annual Premium Calculated?
	The premium is paid at the end of the year based upon actual experience
	The premium is determined by actuarial studies
	The premium is same as the previous year
	The premium is equal for all Policyholders
Q7    Who benefits from a Takaful Risk Protection Plan?
	The person who is covered by Risk Protection
	The Takaful Fund pool itself
	The family or beneficiary of the Policyholder
	All of the above
Q8    How are Takaful Premiums invested?
	Sharia compliance investments
	Any equities that are increasing
	Government bonds
	The latest "hot" Initial Public Offering (IPO)
Q9    Are all models of Takaful operations the same?
	There is only one model for Takaful
	There are only two types of Takaful - al mudarabah and al wakala
	There are three types of Takaful - al mudarabah, al wakala and 100% tabarrat (donation)
	Nil
Q10    Where are the Takaful Operators located globally?
	Only in Middle East Countries
	In Middle East and Asia (Malaysia/Indonesia)
	In Middle East, Asia and Near East (Bangladesh/Sri Lanka)
	In Middle East, Asia, Near East and Europe (Luxembourg / UK)