Takaful Premiums Are

question 39

Multiple Choice

Takaful premiums are:

• A) considered as trust held by the operator on behalf of the participants
• B) paid in return for an insurance cover
• C) recognized as deposits that must be returned to the participants at the end of business year
• D) all of the above

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Definitions:

Equal Value

A condition or state where two or more items, services, or amounts have the same worth or significance.

Due Payment

The amount of money that is scheduled to be paid at a certain date as part of a financial obligation.

Delay Payment

The act of postponing a payment until a later time, often resulting in additional fees or interest.

Interest Rate

The percentage of a loan that comes with an interest charge to the borrower, often stated as an annual percentage of the loan balance.