Home Financing facility
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A: Answer: Option b.
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- Risk and premiums for homeowners policies look at all of the following, EXCEPT: a) The results of the title search b) The property being insured c) The person buying the policy d) The type and amount of coverageIdentify housing alternatives, assess the rental option, and perform a rent to buy analysisWhich of the following statements is correct about perils in property insurance policies? An (HO-2) form provides coverage for more perils than a (HO-3) Form. a Peril is defined as the cause of a loss A peril increases the chance of a loss a property insurance policy must contain a list of all cover perils
- What are the key principles underlying both conventional and Islamic home financing techniques? Who retains the title to the property in each transaction? What are the Shariah rules applied in the case of home finance?All of the following are true of the HO-3 Special Form, EXCEPT: The HO-3 meets the property and liability coverage needs of most families. The HO-3 is designed for owners who occupy their dwelling or choose to rent it. The HO-3 can be modified for special needs through available endorsements. The HO-3 is typically used as a basis for understanding other HO coverage forms.The standard homeowners policy contains both property and liability coverages. True or False
- QUESTION THERE (3) Justify your views on the importance of understanding the differences between these types of property below on the daily practice of muamalat to a Muslim. Examples are encouraged to reinforce your answer. State the importance of them to some specific muamalat contract. - istihlaki property with isti‘mali property - ‘asli property with thimari property - mamluk property with mubah property - ‘aqar property with manqul property - qabil lil qismah property with ghayr qabil lil qismah propertyWhich of the following shall be excluded in the contract costs of a construction contract? * A. Costs that are directly attributable to contract activity in general and can be allocated to the contract B. Costs that directly relate to the specific contract C. Such other costs as are specifically chargeable to the customer under the terms of the contract D. Selling costs such as advertisement expense or commissions of real estate agents or brokers Percentage of Completion is favored to be used under the following circumstances, except A. Progress Billings is assured of collection B. Contract Price is assured C. Performance obligation can be reliably measured D. Contract Costs can be reliably estimated S1: Cost plus contract is a contract used on long term construction contracts in which the contractor agrees to a contract price that is fixed, either at the inception or at a fixed rate per unit of output, which in some cases may be subject to cost escalation clauses.S2: Variable…which of the following could be required to file a gst return? a. Chan's clothing store (an unincorporated business) b. The Chan foundation (a registered charity) c. Min Chan (an individual) d. All of the above
