Accounting For Investment In Islamic Securities
Quiz by Sufi Mazlan
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15 questions
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- Q1Sukuk representcharging of interestfixed-incomeinterest-bearing bondssecuritization30s
- Q2Investments in sukuk that represent ownership of equal shares in a rented real estate or the usufruct of the real estate. This representSalam or Istisna' sukukMusharakah sukukIjarah sukukMudarabah (Muqaradah) sukuk30s
- Q3These are the characteristics of Salam or Istisna' sukuk EXCEPT :It is permissible to defer payment in an istisna' transactionCannot be sold or traded before their maturity date if the buyer/seller issues them.A sale of a commodity on the basis of deferred delivery against immediate paymentThe holder of sukuk bear all cost of maintenance of and damage of the real estate.30s
- Q4These are the characteristics of Islamic Equity EXCEPT :Islamic equity product must be structured according to Shari’ahThe shares are only negotiable if the company owns some illiquidThe business is involved in prohibited activities.Profits should be shared on a pro-rata basis30s
- Q5Sukuk held to maturity measured based onhistorical costdirect costoperating costvariable cost30s
- Q6These are the AAOIFI FAS 17 recommendations EXCEPTInvestment in sukuk and shares shall be recognized on acquisition date at costUnrealized gains or losses recognized in SOPLThe reserve reflects net gain/loss at the end of the yearAny unrealized gain or losses from re-measurement at fair value recognized in SOPL45s
- Q7Which of the following is NOT the type of REITs ?Land BankingRetail BankingSale and Leaseback fundsIndirect Investments30s
- Q8The Islamic REITs aim to invest at least __ of its total assets in real estate60%25%75%50%30s
- Q9Which of these are NOT TRUE about the criteria outlinted in the guidelines by Securities Commission 2005Purchase of real estate in which all the existing tenants operate non-permissible activitiesThe use of conventional insurance to insure real estate in Islamic REITsForward sales or purchase of currency for hedging and risk managementPurchase of real estate in which all the existing tenants operate permissible activities45s
- Q10__ limit on other REITs investments and/or other Islamic instruments25%20%10%30%30s
- Q11Ordinary shares (Common stocks) isa type of preferred stock in which the dividends are cumulativea share giving the holder the right to votea stock that has priority in terms of dividend and rights on liquidationa type of preferred stock with similar characters as common stocks but the dividend are fixed30s
- Q12Opportunities of Islamic REITS are below EXCEPT :It is a strong growth of real estates sectorIt involve the permissible & non-permissible activitiesIt growth within medium size investors and affluentIt give a stable returns to the investors30s
- Q13The Fiqh ruling of ____ has approved modern day equities.199619901969199530s
- Q14Fill in the blankTrusteeShareholderTrusterCo-owners30s
- Q15Shares represent units of ownership interest or a specific part of the total capital of a company.TrueFalse30s
