Question 1
What is considered the primary, absolute, and unalterable source of Shariah from which all Islamic finance principles are derived?
Correct Answer:
The Quran
Question 2
Which secondary source of Shariah involves the consensus of jurists and scholars on a legal issue not explicitly covered in the Quran or Sunnah?
Correct Answer:
Ijma
Question 3
Which of the following lists the four major Sunni schools of Islamic jurisprudence (Fiqh) whose interpretations form the basis of Shariah rulings?
Correct Answer:
Hanafi, Maliki, Shafi'i, Hanbali
Question 4
What is the primary role of international bodies like the International Islamic Fiqh Academy in modern Islamic finance?
Correct Answer:
To issue collective Fatwas (scholarly rulings) on contemporary financial transactions
Question 5
What is the Shariah term for the interest charged on a loan due to deferment or delay in repayment?
Correct Answer:
Riba al-Nasi'ah
Question 1
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Prepare with the IFQ Practice Questions - CISI Islamic Finance Qualification Exam practice quiz. This question bank includes 100 questions covering islamic, contract, shariah, bank, and finance. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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IFQ Practice Questions - CISI Islamic Finance Qualification Exam

This practice set contains 100 questions from the matching question bank and focuses on islamic, contract, shariah, bank, and finance. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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