JAIIB 2026 Questions from Repetitive Topics, Download Free PDF

1. A firm debited the purchase of a new delivery van (cost ₹8,00,000) to the ‘Repairs and Maintenance’ expense account. The trial balance tallied despite this error. Which type of error is this, and how will it affect the financial statements?

2. A company’s cash book shows a bank balance of ₹4,75,000 (Dr). Cheques issued but not presented: ₹62,000. Cheques deposited but not yet credited by bank: ₹45,000. Bank charges debited in pass book only: ₹3,500. Interest credited directly by bank (not in cash book): ₹8,500. What is the balance as per the pass book?

3. Which of the following best describes the purpose of adjusting entries at year-end?

4. Rahul & Co. found the following after its trial balance tallied: (i) ₹1,20,000 paid for machinery was debited to Wages account. (ii) Sales of ₹30,000 to Mr. X were posted to Mr. Y’s account. (iii) Purchases of ₹50,000 were omitted entirely from books. (iv) Discount allowed ₹5,000 was not posted to the Discount account. Which errors will NOT be revealed by the trial balance?

5. A firm purchased machinery costing ₹10,00,000 on 1st April. Depreciation is charged at 15% p.a. under the Written Down Value (WDV) method. What will be the book value of the asset at the end of Year 3?

6. Opening stock ₹3,00,000; Purchases ₹14,00,000; Carriage inward ₹60,000; Purchase returns ₹80,000; Closing stock ₹4,20,000; Abnormal loss (fire) ₹1,00,000. What is the correct Cost of Goods Sold (COGS)?

7. A company changes its depreciation method from Straight-Line Method (SLM) to Written Down Value (WDV) to better reflect the pattern of economic benefits. Under accounting standards, this should be treated as:

8. A suspense account had a debit balance of ₹6,000. The following errors were then discovered: (i) Wages account undercast by ₹2,000 (ii) Sales account overcast by ₹1,500 (iii) Purchase returns ₹2,500 completely omitted. After rectification, what is the balance in the suspense account?

9. Priya Traders discovered the following adjustments at year end: Outstanding rent ₹24,000. Prepaid insurance ₹9,000 (of 12 months, 3 months expired). Depreciation on furniture ₹15,000 not yet recorded. Interest accrued on investment ₹6,000 not yet received. What is the net impact on Net Profit after all adjustments?

10. When preparing a Bank Reconciliation Statement, a cheque deposited by the company but not yet credited by the bank will:

Q11. The National Electronic Funds Transfer (NEFT) system in India operates:

Q12. Which of the following best describes ‘Participatory Notes (P-Notes)’ in the Indian capital market?

Q13. Which of the following correctly describes a ‘Reverse Mortgage’ product?

Q14. The concept of ‘Priority Sector Lending’ (PSL) in India requires domestic scheduled commercial banks to lend what percentage of ANBC (Adjusted Net Bank Credit) to priority sectors?

Q15. Which of the following is correct regarding the Monetary Policy Committee (MPC) of India?

11. Post RBI deregulation of savings bank interest rates (October 2011), which statements are CORRECT? (i) Banks must offer a uniform rate on SB deposits up to ₹1 lakh. (ii) Banks can offer differential rates beyond ₹1 lakh, non-discriminatory within branches. (iii) Banks can offer any rate selectively to any customer regardless of deposit amount. (iv) Deregulation applies only to NRI SB deposits.

12. What is the minimum period for a term deposit of less than ₹15 lakh?

13. Which of the following entities CANNOT open a Savings Bank account as per RBI guidelines?

14. A current account shows no operations for two continuous years. It will be classified as:

15. Regarding minor accounts, which statements are CORRECT? (i) Minors aged 10 years or above can open and operate SB accounts independently. (ii) Maximum balance limit for minors below 14 years is ₹1,00,000. (iii) For minors below 10 years, accounts can only be operated by guardians. (iv) Overdraft facility is permitted for minors’ SB accounts.

16. Which facility is NOT permitted in the savings bank account of an illiterate person?

17. Deposits not operated for 10 years or more are classified as unclaimed and transferred to which fund?

18. In case of auto-renewal of Fixed Deposits, deposits are generally renewed:

19. If a sole locker hirer nominates a person, who gets access to the locker after the hirer’s death?

20. Banks can undertake credit card business independently (without a subsidiary) if they meet which condition?

21. Under PMLA 2002, the minimum imprisonment for the offence of money laundering is:

22. A cash transaction of ₹10 lakh and above must be reported to the Financial Intelligence Unit (FIU-IND) as:

23. How frequently must High Risk customers’ KYC be updated?

24. A ‘Politically Exposed Person’ (PEP) is classified under which risk category for KYC purposes?

25. Under the PMLA, a Suspicious Transaction Report (STR) must be filed with FIU-IND within:

26. The concept of ‘Beneficial Owner’ under KYC requires identification of the individual who:

27. A customer is found on the UN Consolidated Sanctions List. What immediate action should the bank take?

28. What is the threshold for ‘Beneficial Owner’ identification in a company?

29. What does ‘Customer Due Diligence’ (CDD) involve?

30. The term ‘Shell Bank’ in AML refers to: