Preparing for the JAIIB AFM exam becomes much easier when you practice from Previous Year Papers and topic-based quizzes. Instead of only reading theory, solving repeated questions helps you understand the real exam pattern, marking style, and important areas.
The JAIIB AFM Previous Year Practice Quiz is specially designed for banking professionals to improve accuracy, speed, and concept clarity. It also helps in quick revision of accounting, financial management, taxation, and costing topics. Download the PDF and start practicing important MCQs that are frequently asked in the exam.
Download JAIIB AFM Previous Year Papers
Boost your JAIIB AFM 2026 preparation by focusing on the most frequently asked questions from JAIIB Previous Year Papers. Each question comes with the correct answer and simple explanations to help you strengthen concepts and improve accuracy in the exam. The direct download link is given below:
Attempt JAIIB AFM Previous Year Practice Quiz
Check your preparation level with our JAIIB AFM Previous Year Practice Quiz designed especially for banking professionals to revise important accounting, financial management, taxation, and costing concepts effectively.
1. Which of the following best describes a Forensic Audit?
2. As per Accounting Standard 26, internally generated goodwill should be:
3. Under CAPM, if the risk-free rate is 6%, market return is 12%, and Beta is 1.5, what is the expected return?
4. An Accommodation Bill is one where:
5. Prime Cost in cost accounting is calculated as:
6. Under the Gordon Growth Model, if D1 = ₹5, P0 = ₹50, and growth rate = 4%, the required rate of return is:
7. A company earns PAT of ₹10,00,000. It has 80,000 equity shares and 20,000 preference shares with a dividend of ₹2 per share. What is the EPS?
8. Which Accounting Standard deals with Contingent Liabilities and Contingent Assets?
9. Under Section 135 of the Companies Act, CSR spending is mandated at:
10. In a Bank Reconciliation Statement, if the passbook shows an overdraft balance of ₹10,000 and a cheque of ₹2,000 issued has not been presented for payment, the balance as per cash book will be:
11. The standard income tax deduction under the New Tax Regime for salaried employees is:
12. Under Section 194A of the Income Tax Act, the TDS threshold limit on interest for senior citizens is:
13. The intrinsic value of a bond with face value ₹1,000, coupon rate 12%, discount rate 10%, and 5-year maturity is approximately:
14. Which of the following is a ‘Plain Vanilla’ financial instrument?
15. Zero Based Budgeting (ZBB) differs from traditional budgeting because:
16. Under Marginal Costing, fixed costs are treated as:
17. A Deferred Payment Guarantee (DPG) is typically issued for:
18. Under the Reverse Charge Mechanism (RCM) in GST, if the seller is unregistered and the buyer is registered, who pays GST?
19. The Debt Service Coverage Ratio (DSCR) is calculated as:
20. Under Absorption Costing as compared to Marginal Costing, the profit will be higher when:
Quiz Summary
Final Score: 0.0
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Why should you attempt JAIIB AFM Previous Year Paper?
The JAIIB AFM exam includes both numerical and theory-based questions, with many topics being asked regularly in different formats. Solving previous year quizzes helps candidates understand the exam pattern, improve speed and accuracy, and revise important topics like accounting, cash flow, and financial management effectively.
What topics are covered in JAIIB AFM Module A (Accounting Principles and Processes)?
JAIIB AFM Module A covers the basic accounting concepts used in banking, including bookkeeping, accounting standards, trial balance, depreciation, and auditing. It helps candidates understand how banks record and maintain financial transactions, making it an important and scoring module in the exam.
| Units | Topics (Key Points) |
| Definition, Scope & Accounting Standards | Accounting concepts, GAAP, IFRS, Ind AS, transfer pricing |
| Basic Accountancy Procedures | Double entry system, accrual vs cash basis, revenue recognition |
| Cash Books & Ledger | Journal entries, debit-credit rules, record keeping |
| Bank Reconciliation Statement | Cash book vs passbook, reconciliation process, adjustments |
| Trial Balance & Errors | Error detection, rectification, suspense account |
| Depreciation Accounting | Methods like SLM, WDV, annuity, asset valuation |
| Capital & Revenue Expenditure | Classification of expenses and receipts |
| Bills of Exchange | Types, due dates, accounting entries |
| Back Office Operations | Bank accounting systems and reconciliation |
| Bank Audit & Inspection | Internal, statutory, and risk-based audits |
Also Check:
What topics are covered in JAIIB AFM Module B (Financial Statements and Core Banking Systems)?
JAIIB AFM Module B focuses on financial statements, company accounts, and computerized accounting systems used in banks. It helps candidates understand balance sheets, cash flow statements, and profit & loss accounts, which are important for analyzing a bank’s financial performance and health.
| Units | Topics (Key Points) |
| Balance Sheet Equation | Basic accounting equation and calculations |
| Final Accounts | Trial balance adjustments and financial statements |
| Company Accounts | Share capital, share issue, company structure |
| Cash Flow & Funds Flow | Cash inflow/outflow and financial movement |
| Banking Company Accounts | RBI norms, Basel-III disclosures, bank statements |
| Core Banking Systems | CBS, digital accounting, IT in banking |
| Computerised Accounting | Software systems, automation, security features |
What topics are covered in JAIIB AFM Module C (Financial Management)?
JAIIB AFM Module C covers financial management concepts such as ratio analysis, bond valuation, interest calculations, capital budgeting, and working capital management. This module is mainly numerical and helps candidates improve their problem-solving skills, making it one of the most scoring sections of the JAIIB AFM exam.
| Units | Topics (Key Points) |
| Financial Management Basics | Risk-return, finance functions, ethics |
| Ratio Analysis | Profitability, liquidity, and efficiency ratios |
| Financial Mathematics | Interest, annuities, present & future value |
| Bond Valuation | YTM, bond pricing, duration |
| Forex Arithmetic | Exchange rates, currency calculation |
| Cost of Capital | WACC, equity, debt, preference cost |
| Capital Budgeting | Investment decision techniques |
| Working Capital Management | Cash flow, credit, financing methods |
| Derivatives | Futures, options, swaps, FRA |
What topics are covered in JAIIB AFM Module D (Taxation and Costing)?
JAIIB AFM Module D covers taxation and cost accounting topics such as Income Tax, GST, TDS, budgeting, and costing methods. It is a practical and scoring module, with questions often based on basic concepts, definitions, and simple calculations.
| Units | Topics (Key Points) |
| Income Tax & TDS | Tax rules, deductions, filing returns |
| GST | Basic concepts, input tax credit |
| Cost Accounting | Cost classification, cost centre, cost control |
| Costing Methods | Job, batch, process, contract costing |
| Standard Costing | Variance analysis and benchmarks |
| Marginal Costing | CVP analysis, break-even point |
| Budgeting | Types of budgets, control system |
What are the most important AFM topics for quick revision?
Some topics are frequently repeated in JAIIB AFM exams and should be revised first. These topics cover a large portion of the paper and help in scoring better marks.
- Accounting Concepts and Principles
- Bank Reconciliation Statement (BRS)
- Trial Balance and Error Rectification
- Cash Flow Statement
- Ratio Analysis
- Bond Valuation and YTM
- Cost of Capital (WACC)
- Capital Budgeting
- Income Tax and GST
- Marginal Costing
- Depreciation Methods
- Financial Statements of Companies
Also Check,
FAQs
It is moderate in level but requires strong concept clarity and practice.
There are four modules: Accounting, Financial Statements, Financial Management, and Taxation & Costing.
Yes, especially from financial management and accounting topics.
Module C and Module D are highly scoring and important.
It includes both theory concepts and numerical problem-solving.
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