100+ Free Shariah RFP Module 2 Practice Questions

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2026 Statistics

Key Facts: Shariah RFP Module 2 Exam

75 Q

Exam Questions

MFPC Guidelines

2.5 Hours

Time Limit

MFPC Guidelines

50%

Passing Score

MFPC Guidelines

RM 200

Exam Fee

MFPC Guidelines

Shariah RFP Module 2 is a 75 MCQ exam administered by MFPC with a 50% passing threshold covering risk and takaful planning.

Sample Shariah RFP Module 2 Practice Questions

Try these sample questions to test your Shariah RFP Module 2 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which of the following is the primary objective of risk management from an Islamic perspective?

A.To eliminate all forms of risk in life

B.To mitigate risk through mutual cooperation and reliance on Allah

C.To transfer all risks to a third-party commercial entity

D.To maximize profit from risk-taking activities

Explanation: In Islam, risk management is about mitigating risk through mutual help (Ta'awun) while having Tawakkal (reliance on Allah).

2What does the concept of 'Ta'awun' refer to in Islamic risk management?

A.Profit sharing

B.Mutual cooperation and assistance

C.Uncertainty

D.Gambling

Explanation: Ta'awun means mutual assistance, which is the foundation of Takaful.

3Which of the following describes 'pure risk'?

A.A situation where there is a chance of either loss or gain

B.A situation where there is only a chance of loss or no loss

C.A risk associated with speculative investments

D.A risk deliberately taken for potential profit

Explanation: Pure risk involves only the possibility of loss or no loss, without any possibility of gain.

4In the risk management process, what follows risk evaluation?

A.Risk identification

B.Risk treatment / Selection of risk management techniques

C.Risk monitoring

D.Risk implementation

Explanation: After identifying and evaluating risks, the next step is selecting the appropriate risk treatment technique.

5Risk retention is most appropriate for risks that have:

A.High frequency and high severity

B.Low frequency and high severity

C.High frequency and low severity

D.Low frequency and low severity

Explanation: Low frequency, low severity risks are typically retained because the cost of transferring them exceeds the potential loss.

6Under Islamic principles, which of the following risk handling techniques is Takaful based on?

A.Risk avoidance

B.Risk transfer

C.Risk sharing (pooling)

D.Risk retention

Explanation: Takaful is based on the concept of risk sharing among participants, rather than transferring risk to an operator.

7Which of these is a fundamental principle of insurance/takaful?

A.Utmost good faith (Uberrimae Fides)

B.Caveat Emptor

C.Profit maximization

D.Speculative intent

Explanation: Both conventional insurance and Takaful rely heavily on the principle of utmost good faith.

8What is the purpose of the 'principle of indemnity'?

A.To ensure the insured makes a profit from a loss

B.To restore the insured to the same financial position as before the loss

C.To guarantee a fixed payout regardless of the actual loss

D.To penalize the insured for making a claim

Explanation: Indemnity ensures the participant is compensated for the actual loss suffered, preventing profit from a claim.

9How is 'proximate cause' defined in risk management?

A.The most recent event leading to a loss

B.The active, efficient cause that sets in motion a train of events bringing about a result

C.Any event that contributes to a loss

D.The most expensive event in a chain of losses

Explanation: Proximate cause is the dominant cause that sets the chain of events in motion leading to the loss.

10Which principle prevents an insured from claiming from multiple insurers for the same loss beyond the total loss amount?

A.Subrogation

B.Contribution

C.Proximate Cause

D.Insurable Interest

Explanation: Contribution allows an insurer to call upon other insurers to share the cost of a claim, ensuring the insured doesn't profit.

About the Shariah RFP Module 2 Exam

Shariah Registered Financial Planner Module 2 covering Islamic risk management, Shariah-compliant issues, Takaful vs. Conventional Insurance, Family Takaful, General Takaful, Investment-Linked Takaful, and Ethics in Malaysia.

Assessment

75 multiple-choice questions spanning five key areas of Takaful and Islamic risk management.

Time Limit

2.5 hours

Passing Score

50%

Exam Fee

RM 200 (Malaysian Financial Planning Council (MFPC))

Shariah RFP Module 2 Exam Content Outline

15%

Risk Management from an Islamic Perspective & Risk and Insurance Concepts

Fundamental concepts of risk, risk handling methods, and the Islamic approach to mitigating risks through cooperation and mutual assistance.

20%

Shariah Compliant Issues & Takaful vs. Conventional Insurance

Key differences between Takaful and conventional insurance, including prohibitions on Riba (usury), Gharar (uncertainty), and Maysir (gambling).

30%

Family Takaful & Investment-Linked Takaful

Structure and operations of Family Takaful plans, including mortality risks, participant accounts, investment-linked funds, and riders.

20%

General Takaful Products and Structure

Operational models (Wakalah, Mudharabah) for General Takaful, covering motor, fire, marine, and engineering coverage.

15%

Takaful Agent Ethics and Code of Conduct

Professional conduct, disclosure requirements, and Shariah ethical guidelines for Takaful operators and agents in Malaysia.

How to Pass the Shariah RFP Module 2 Exam

What You Need to Know

Passing score: 50%
Assessment: 75 multiple-choice questions spanning five key areas of Takaful and Islamic risk management.
Time limit: 2.5 hours
Exam fee: RM 200

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

Shariah RFP Module 2 Study Tips from Top Performers

1Understand the key differences between Wakalah (agency) and Mudharabah (profit-sharing) models.

2Be clear on the definitions and implications of Gharar, Riba, and Maysir.

3Familiarize yourself with the surplus distribution process in Takaful.

4Review the agent's code of ethics and professional conduct thoroughly.

5Practice basic calculations involving unit deductions and profit-sharing allocations.

Frequently Asked Questions

What is the passing score for the Shariah RFP Module 2 exam?

The passing mark is 50%, requiring at least 38 out of 75 questions answered correctly.

What topics are covered in the Shariah RFP Module 2 exam?

The syllabus is split into Risk Management (15%), Shariah Issues & Takaful vs Insurance (20%), Family & Investment-Linked Takaful (30%), General Takaful (20%), and Ethics (15%).

Are there calculations in the Shariah RFP Module 2 exam?

Yes, there are calculation questions related to Takaful surplus distribution, Wakalah fees, Mudharabah profit-sharing ratios, and basic investment-linked unit pricing.

Is it possible to retake the exam if I fail?

Yes. Candidates can register for a resit during the next available exam session by paying the retake fee.