CPSS exam preparation: study modules
Exam-focused notes, worked scenarios and tough scenario quizzes on the AAOIFI Shari'ah standards examined in the CPSS
Advanced · 40 hours · 40 lessons · Language: English and Arabic · ID: IFS-COU-0040
This course is ifSPACE's most demanding preparation for the Certificate of Proficiency in Shari'ah Standards (CPSS). Its ten modules work through the standards candidates must apply: Shari'ah fundamentals (riba, gharar, currency, gold, possession and combined contracts); murabahah to the purchase orderer and tawarruq; salam, istisna'a and concession contracts; ijarah, ijarah muntahia bittamleek and forward lease; agency, investment agency and banking services; musharakah, diminishing musharakah and mudarabah; profit distribution, investment accounts and capital protection; options, promises, guarantees, pledges and hedging; debts, including default, settlement, transfer and online dealings; and shares, sukuk, takaful, zakah and waqf.
Each module has exam notes that set out the key rules, conditions, distinctions and the rules most often misapplied; three worked scenarios analysed step by step; a slide deck; and a scenario quiz of ten multi-step questions with full explanations in English and Arabic. The program adds three scenario mock exams of 40 questions in 60 minutes each, and the course ends with a final mock exam of 100 questions drawn from a bank of 200, in 150 minutes, with a pass mark of 70%.
This is independent preparation material written by ifSPACE. ifSPACE is not AAOIFI and is not an AAOIFI-authorised provider, and the course does not confer any AAOIFI qualification. All questions are written by ifSPACE and are not official AAOIFI exam questions. The content is educational and is not a fatwa.
What you will learn
- Classify the counter-values in a transaction and apply the AAOIFI Shari'ah standards on riba, currency, gold, gharar, possession and combined contracts to decide whether it is valid.
- Trace murabahah, tawarruq, salam, istisna'a and ijarah structures step by step, identify the step that breaches the standards and state the correct treatment and its consequence.
- Distinguish closely related contracts, such as salam and istisna'a, a binding promise and a bilateral promise, investment agency and mudarabah, and apply the rule that separates them.
- Determine who bears loss, risk and liability in agency, partnership, investment and banking-service arrangements, including the grounds on which a trustee becomes liable.
- Answer complex, multi-step CPSS-style scenario questions accurately under exam time conditions.
Syllabus
1.Shari'ah fundamentals: riba, gharar, currency, gold, possession and combined contracts
- Exam notes: Shari'ah fundamentals: riba, gharar, currency, gold, possession and combined contracts40 min
- Worked scenarios: Shari'ah fundamentals: riba, gharar, currency, gold, possession and combined contracts30 min
- Module 1 presentation15 min
- Module 1 scenario quiz25 min
2.Murabahah to the purchase orderer and tawarruq
- Exam notes: Murabahah to the purchase orderer and tawarruq40 min
- Worked scenarios: Murabahah to the purchase orderer and tawarruq30 min
- Module 2 presentation15 min
- Module 2 scenario quiz25 min
3.Salam, istisna'a and concession contracts
- Exam notes: Salam, istisna'a and concession contracts40 min
- Worked scenarios: Salam, istisna'a and concession contracts30 min
- Module 3 presentation15 min
- Module 3 scenario quiz25 min
4.Ijarah, ijarah muntahia bittamleek and forward lease
- Exam notes: Ijarah, ijarah muntahia bittamleek and forward lease40 min
- Worked scenarios: Ijarah, ijarah muntahia bittamleek and forward lease30 min
- Module 4 presentation15 min
- Module 4 scenario quiz25 min
5.Agency, investment agency and banking services
- Exam notes: Agency, investment agency and banking services40 min
- Worked scenarios: Agency, investment agency and banking services30 min
- Module 5 presentation15 min
- Module 5 scenario quiz25 min
6.Musharakah, diminishing musharakah and mudarabah
- Exam notes: Musharakah, diminishing musharakah and mudarabah40 min
- Worked scenarios: Musharakah, diminishing musharakah and mudarabah30 min
- Module 6 presentation15 min
- Module 6 scenario quiz25 min
7.Profit distribution, investment accounts and capital protection
- Exam notes: Profit distribution, investment accounts and capital protection40 min
- Worked scenarios: Profit distribution, investment accounts and capital protection30 min
- Module 7 presentation15 min
- Module 7 scenario quiz25 min
8.Options, promises, guarantees, pledges and hedging
- Exam notes: Options, promises, guarantees, pledges and hedging40 min
- Worked scenarios: Options, promises, guarantees, pledges and hedging30 min
- Module 8 presentation15 min
- Module 8 scenario quiz25 min
9.Debts: default, settlement, transfer and online dealings
- Exam notes: Debts: default, settlement, transfer and online dealings40 min
- Worked scenarios: Debts: default, settlement, transfer and online dealings30 min
- Module 9 presentation15 min
- Module 9 scenario quiz25 min
10.Shares, sukuk, takaful, zakah and waqf
- Exam notes: Shares, sukuk, takaful, zakah and waqf40 min
- Worked scenarios: Shares, sukuk, takaful, zakah and waqf30 min
- Module 10 presentation15 min
- Module 10 scenario quiz25 min