Takaful - Study guides, Class notes & Summaries

This examination consists of 100 questions. You have 2 hours to answer ALL questions. Circle the response that best represents the correct answer. 1. The existence of ____________ in contracts of insurance is one of the main factors that differentiate insurance from gambling. A. pure risks B. particulars risks C. financial value D. insurable interest 2. The following are methods of handling risks except A. retain B. control C. transfer D. eliminate 3. Takaful practices are free from the elements...

Design Defect* - Answer-A flaw or deficiency in the design of a product that makes it unreasonably dangerous to users. Can result in product liability where manufacturers/designers may be held responsible for injuries or damages caused by the defective design. Manufacturing Defect* - Answer-A defect that occurs during the manufacturing process, causing a product to deviate from its intended design. Results in unsafe products and manufacturers may be held liable for harm caused to consumers....

This examination consists of 100 questions. You have 2 hours to answer ALL questions. Circle the response that best represents the correct answer. 1. The existence of ____________ in contracts of insurance is one of the main factors that differentiate insurance from gambling. A. pure risks B. particulars risks C. financial value D. insurable interest 2. The following are methods of handling risks except A. retain B. control C. transfer D. eliminate 3. Takaful practices are free from t...

A summary with table of comparisons for understanding Islamic products and services offered by Islamic banks in Malaysia and the regulations behind it that helps to understand the whole structure in short time.