# 1pilihanWhen did the Islamic Financial Services Act (IFSA) 2013 come into force?30 June 20131 January 201415 March 20131 July 2013
# 2pilihanWhich of the following is NOT a statute combined and replaced by IFSA 2013?IBA 1983Takaful Act 1984Companies Act 1965Payment Systems Act 2003
# 3pilihanWhat is one of the key objectives of IFSA 2013?To reduce taxesTo promote financial stabilityTo increase foreign investmentTo abolish shariah compliance
# 4pilihanWho has the authority to make rulings on shariah compliance under IFSA 2013?The Prime MinisterThe Ministry of FinanceBank Negara Malaysia (BNM)The Malaysian Parliament
# 5pilihanWhat is the penalty for unauthorized business under IFSA 2013?Imprisonment up to 5 yearsFine up to RM10 millionImprisonment up to 10 years or a fine up to RM50 millionCommunity service
# 7pilihanWhat is the role of the Shariah Committee under IFSA 2013?To manage bank accountsTo ensure products are Shariah compliantTo approve loansTo set interest rates
# 8pilihanWhat is an Islamic deposit as per IFSA 2013?A loan with an interestA sum of money accepted in accordance with ShariahA traditional bank accountAn investment in stocks
# 9pilihanWhat distinguishes an Islamic Investment Account under IFSA 2013?Guaranteed principalNon-guaranteed principalHigh interest rateGovernment-backed
# 10pilihanWhat does the Shariah audit ensure under IFSA 2013?Legal compliance onlyShariah compliance of operationsProfit maximizationCustomer satisfaction