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    AAOIFI FAS 25 - Quiz (MBL To BIBF)

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    AL-HAMD GROUP
    This document contains a quiz prepared by Meezan Bank Ltd for the Bahrain Institute of Banking & Finance on AAOIFI Financial Accounting Standard No. 25 regarding the classification and measurement of investments. The 12-question quiz covers topics such as the types of instruments covered by the standard, how investments are classified and measured, and disclosure requirements for investments reported at fair value or amortized cost. An answer key is provided at the end.

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    AAOIFI FAS 25 - Quiz (MBL To BIBF)

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    AL-HAMD GROUP
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    This document contains a quiz prepared by Meezan Bank Ltd for the Bahrain Institute of Banking & Finance on AAOIFI Financial Accounting Standard No. 25 regarding the classification and measurement of investments. The 12-question quiz covers topics such as the types of instruments covered by the standard, how investments are classified and measured, and disclosure requirements for investments reported at fair value or amortized cost. An answer key is provided at the end.

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    AAOIFI FAS 25 - Quiz (MBL to BIBF)

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    This document contains a quiz prepared by Meezan Bank Ltd for the Bahrain Institute of Banking & Finance on AAOIFI Financial Accounting Standard No. 25 regarding the classification and measurement of investments. The 12-question quiz covers topics such as the types of instruments covered by the standard, how investments are classified and measured, and disclosure requirements for investments reported at fair value or amortized cost. An answer key is provided at the end.

    Copyright:

    © All Rights Reserved
    23 views3 pages

    AAOIFI FAS 25 - Quiz (MBL To BIBF)

    Uploaded by

    AL-HAMD GROUP
    This document contains a quiz prepared by Meezan Bank Ltd for the Bahrain Institute of Banking & Finance on AAOIFI Financial Accounting Standard No. 25 regarding the classification and measurement of investments. The 12-question quiz covers topics such as the types of instruments covered by the standard, how investments are classified and measured, and disclosure requirements for investments reported at fair value or amortized cost. An answer key is provided at the end.

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    QUIZ PREPARED ON BEHALF OF MEEZAN BANK LTD (MBL) FOR

    BAHRAIN INSTITUTE OF BANKING & FINANCE (BIBF)

    AAOIFI Financial Accounting Standard No. 25


    “Investment in Sukuk, Shares and Similar Instruments”
    Concept Check – choose the correct answer
    Q 1) AAOIFI Financial Accounting Standard No. 25 “Investment in Sukuk, Shares and
    Similar Instruments” is not applicable to all of the following except?

    a) Investments through structured products, investment funds, etc.


    b) Investment in entity’s own equity
    c) Investment in real estate
    d) Investment in contracts with insurance

    Q 2) Which of the following instrument types the standard No. 25 does not deal with?

    a) Equity instruments
    b) Derivative instruments
    c) Debt instruments
    d) None of the above

    Q 3) Investments providing fixed profit payments to the holder of instrument are called
    ________________________.

    a) Equity instruments
    b) Derivative instruments
    c) Debt instruments
    d) None of the above

    Q 4) Investments showing a residual interest in the entity‟s assets (net of all liabilities) are
    called ________________________.

    a) Equity instruments
    b) Derivative instruments
    c) Debt instruments
    d) None of the above

    Q 5) Which of the following is not true about „investment held for trading‟?
    a) It can profit from short-term price changes
    b) It has a maturity of more than 3 years
    c) It is reported at fair value
    d) All of the above

    Q 6) Realized gains/losses from investment are measured as the difference between the
    ________________________ and the _______________________.

    a) Net cash proceed from the sale, book value


    b) Book value, net cash proceed from the sale
    c) Net cash proceed from the sale, fair value
    d) Fair value, net cash proceed from the sale

    Q 7) For investments measured at fair value, all of the following shall be disclosed except:

    a) Changes in valuation techniques


    b) Basis of determining fair value
    c) Transfers between levels of determination basis
    d) Shareholder’s certificate specimen

    Q 8) Fair value of investments carried at amortized cost shall be disclosed in a fashion


    which allows its comparison with the ______________________.

    a) Relevant amounts
    b) Historical amounts
    c) Potential amounts
    d) Carrying amounts

    Q 9) One of the classes of investment in debt instruments is „investment carried at


    amortized cost‟.

    e) True
    f) False

    Q 10) Investment carried at amortized cost shall be reported in the balance sheet at face
    value.

    a) True
    b) False

    Q 11) One of the conditions for measuring debt investment at amortized cost is that the
    instrument is managed on a contractual yield basis.

    a) True
    b) False
    Q 12) Equity instruments not labeled at fair value through income statement are classified
    as investments at fair value through assets.

    a) True
    b) False

    Answer Key

    1. a
    2. b
    3. c
    4. a
    5. b
    6. b
    7. d
    8. d
    9. T
    10. F
    11. T
    12. F

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