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:
| Particulars | Details |
| JAIIB AFM May 2026 Previous Year Paper | Download PDF |
| JAIIB AFM Nov 2025 Previous Year Paper | Download Free PDF |
| JAIIB AFM Most Repetitive Practice Quiz | Download Free PDF |
| JAIIB AFM Important MCQs | Download Free PDF |
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
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Why should you attempt JAIIB AFM Previous Year Paper?
The AFM exam is concept-heavy and includes numerical as well as theory-based questions. Many questions are repeated in different formats every year, especially from accounting principles, cash flow, and financial management. Practicing previous year quizzes helps you understand how questions are framed in the exam.
It also improves your speed in solving numerical problems and builds confidence for the final exam. Banking professionals can use this quiz for smart revision instead of reading full chapters again. It is one of the most effective ways to score higher in JAIIB AFM.
What topics are covered in JAIIB AFM Module A (Accounting Principles and Processes)?
JAIIB AFM Module A builds the foundation of accounting concepts used in banking operations. It includes accounting standards, bookkeeping, reconciliation, trial balance, depreciation, and audit-related topics. These topics are very important for understanding how financial records are maintained in banks.
This module focuses on practical accounting knowledge used in daily banking work. It helps candidates understand how transactions are recorded, verified, and corrected. Questions from this module are usually direct and scoring if concepts are clear.
| 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:
| Study Plan | Study Plan |
| JAIIB IE And IFS Study Plan | JAIIB PPB Study Plan |
| JAIIB AFM Study Plan | JAIIB RBWM Study Plan |
What topics are covered in JAIIB AFM Module B (Financial Statements and Core Banking Systems)?
This module focuses on financial statements and company accounts. It helps candidates understand how balance sheets, cash flow statements, and profit & loss accounts are prepared. It also includes core banking systems and computerized accounting used in modern banks.
The module is important for both theory and practical application. Questions are often asked from financial statement preparation and analysis. Understanding this module helps in interpreting bank performance and financial 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)?
This module deals with financial decision-making and mathematical concepts in banking. It includes ratio analysis, bond valuation, interest calculations, capital budgeting, and working capital management. These topics are highly numerical and formula-based.
Candidates must focus on practice and problem-solving for this module. It is one of the most scoring parts if formulas are well understood. Many questions are repeated from previous year papers.
| 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)?
This module covers taxation and cost accounting concepts. It includes income tax, GST, TDS, budgeting, and costing methods used in financial decision-making. These topics are practical and often asked in objective questions.
It is a scoring module if basics are clear. Questions are usually direct and based on definitions, calculations, and concepts. Regular practice helps in improving accuracy.
| 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,
| Related Topics | Link |
| 50 Most Repetitive JAIIB AFM MCQs | Click here to Check |
| 50 Most Repetitive JAIIB RBWM MCQs | Click here to Check |
| 50 Most Repetitive JAIIB IE & IFS MCQs | Click here to 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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