Q1) Standard No. 26 “Islamic Insurance” is applicable to all of the following except: 

Q2) _______________ is a Mu’awadah (mutual compensation) contract seeking tomake profit out of the insurance operation.     

Q3) Islamic Insurance has ___________ contractual relationships.  

Q4) Under Islamic insurance, the relationship between the participants may be confined to a ____________ contract if a company manages the fund.      

Q5) ______________ is an insurance against fire, accidents, breach of trust, etc.   

Q6) ____________ includes insurance against disability or death.       

Q7) If the insurance assets fall short of covering indemnity commitments, the deficit may be covered from ____________. 

Q8) The participant shall receive either the loss incurred, or the insurance amount, whichever is __________.  

Q9) _____________ can be distributed in proportion to the respective contributions of the policyholders irrespective of whether or not they have received indemnity.

Q10) Person insurance policy expires in any of the following cases:

Q11) Islamic Insurance is based on participants’ commitment to make contributions for the sake of company’s interest.

Q12) The Company assumes the role of agent in managing the insurance account.

Q13) Non-Muslims are not allowed to participate in Islamic Insurance.

Q14) If the insurance seeker delays in making payments, the company may terminate the contract.

Q15) It is not permissible to stipulate special cases which lead to deprivation from indemnity.