competed in one sitting. Do not leave the test before clicking Save and Submit. Remaining Time: 1 hour, 19 minutes, 20 seconds. Question Completion Status: 71 8 10 11 12 13 14 15 16 > Moving to another question will save this response. Question 8 of 16 > Question B 5 points Save Answe An Islamic financial institution (IFT) invested in a two years project valued at USD 2,000,000 by providing 80% of the capital based on the Musharakah contract with Party A. The benchmark profit is agreed to be USD 400,000 per year. The progloss payments are agreed to be made at the end of every year. Following is the profit share formula 1. If profit is less than USD 400000, then profit share will be IFI-60 Party A-40% 2. If profit is more than or equal to USD 400000, then IFI will take first USD 250,000 and rest will be shared as 1F1-50% of the rest, Party A-50% of the rest. Suppose that at the end of the first year there is profit of USD 877,514. What will be profit share of IFT? >> Moving to another question will save this response. MacBook Pro esc 3 # v an only be taken once. Force Completion Once started, this test must be completed in one sitting, Do not leave the test before clicking Save and Submit. Remaining Time: 1 hour, 19 minutes, 36 seconds. Question Completion Status: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 > Moving to another question will save this response. Question 14 5 points Save Answ. Emirates Takaful operator offers one-year motor takaful to all the participants and manages Motor Takaful Fund (MTF) on Mudarabal basis of Islamic contract. Suppose that the agreed Monthly Contribution Donations by each member in MTF 221 AED, where all contributions go to Participants Investment Fund (PIF). The accumulated funds in PIF are invested every month under the supervision of both the operator and Shariah Advisory Board. Suppose that there are 1,052 participants in the MTF and all started their contributions at the same time with the same terms of the contract. Once entered into the contract, a participant cannot terminate the contract for six months, else he will lose all his contributions to PIF. Suppose that profit share of the operator is 51%, exclusive of all the management and operational expenses. Further suppose that there is 10% average return on the accumulated funds in PIF at the end of the year, where the contributions in the PRA are fully invested and the surplus will be distributed at the end of the year. In addition, the PIF is renewed every year. What will be profit share of the operator at the end of the year? -> Moving to another question will save this response. MacBook Pro esc + 78 competed in one sitting. Do not leave the test before clicking Save and Submit. Remaining Time: 1 hour, 19 minutes, 20 seconds. Question Completion Status: 71 8 10 11 12 13 14 15 16 > Moving to another question will save this response. Question 8 of 16 > Question B 5 points Save Answe An Islamic financial institution (IFT) invested in a two years project valued at USD 2,000,000 by providing 80% of the capital based on the Musharakah contract with Party A. The benchmark profit is agreed to be USD 400,000 per year. The progloss payments are agreed to be made at the end of every year. Following is the profit share formula 1. If profit is less than USD 400000, then profit share will be IFI-60 Party A-40% 2. If profit is more than or equal to USD 400000, then IFI will take first USD 250,000 and rest will be shared as 1F1-50% of the rest, Party A-50% of the rest. Suppose that at the end of the first year there is profit of USD 877,514. What will be profit share of IFT? >> Moving to another question will save this response. MacBook Pro esc 3 # v an only be taken once. Force Completion Once started, this test must be completed in one sitting, Do not leave the test before clicking Save and Submit. Remaining Time: 1 hour, 19 minutes, 36 seconds. Question Completion Status: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 > Moving to another question will save this response. Question 14 5 points Save Answ. Emirates Takaful operator offers one-year motor takaful to all the participants and manages Motor Takaful Fund (MTF) on Mudarabal basis of Islamic contract. Suppose that the agreed Monthly Contribution Donations by each member in MTF 221 AED, where all contributions go to Participants Investment Fund (PIF). The accumulated funds in PIF are invested every month under the supervision of both the operator and Shariah Advisory Board. Suppose that there are 1,052 participants in the MTF and all started their contributions at the same time with the same terms of the contract. Once entered into the contract, a participant cannot terminate the contract for six months, else he will lose all his contributions to PIF. Suppose that profit share of the operator is 51%, exclusive of all the management and operational expenses. Further suppose that there is 10% average return on the accumulated funds in PIF at the end of the year, where the contributions in the PRA are fully invested and the surplus will be distributed at the end of the year. In addition, the PIF is renewed every year. What will be profit share of the operator at the end of the year? -> Moving to another question will save this response. MacBook Pro esc + 78