When it comes to the JAIIB Exam preparation, the Accounting and Financial Management (AFM) subject plays a very important role in building strong accounting fundamentals for banking professionals. Among its modules, Module A is considered the foundation because it introduces key accounting principles, processes, and banking-related accounting practices.
If you are preparing for the JAIIB Exam, then solving the AFM Module A practice quiz and revising through a structured PDF can significantly improve your conceptual clarity and exam performance. In this blog, we have provided a JAIIB AFM Module A practice quiz along with a free PDF covering 100 questions with solutions and explanations from Module A topics.
Download Free JAIIB AFM Module A Practice Questions PDF
To make your preparation more effective, we have provided a free PDF that includes practice questions for JAIIB AFM Module A. This PDF has been designed to cover all important topics from the syllabus and includes clear explanations to help you understand the correct answers.
JAIIB AFM Module A Practice Questions
Now, let’s go through a set of practice questions based on key topics from Module A. These questions are designed to help you understand core accounting concepts and give you a clear idea of the exam pattern. Regular practice will help you improve accuracy, speed, and conceptual clarity before the exam.
Q1. According to the accrual concept in accounting, revenue should be recognised when:
Q2. A firm debits Furniture Account and credits Cash Account when purchasing furniture. This is an application of which accounting concept?
Q3. Under which accounting standard is the treatment of depreciation on Property, Plant and Equipment (PPE) primarily governed in India under Ind AS?
Q4. The conservatism principle in accounting requires that:
Q5. Which of the following best distinguishes IFRS from Indian GAAP (pre-Ind AS)?
Q6. A company recognises revenue over time rather than at a point in time under Ind AS 115 when:
Q7. Transfer pricing refers to:
Q8. The going concern concept assumes that:
Q9. Under the cash basis of accounting, a firm receives an advance of Rs.50,000 for services to be rendered next year. This advance should be:
Q10. A new accounting standard requires entities to apply it from the beginning of the earliest comparative period presented by restating prior year figures. This method of adoption is known as:
Q11. Which of the following accounts has a normal credit balance?
Q12. A sole trader pays Rs.12,000 rent in cash for the business premises. The correct journal entry is:
Q13. Columnar cash books are primarily useful because they:
Q14. The petty cash book is maintained under the imprest system. At the start of the month, the petty cashier receives Rs.5,000. By month end, Rs.3,800 is spent. What amount will be reimbursed at the beginning of next month?
Q15. A three-column cash book records:
Q16. The cash book showed a bank balance (Dr) of Rs.2,50,000. The pass book showed a balance of Rs.2,90,000. A cheque of Rs.40,000 was deposited but not yet credited by the bank. The reconciled position indicates:
Q17. Which of the following items, when preparing a BRS starting from the cash book balance, would require ADDITION to reach the pass book balance?
Q18. A company’s pass book shows a credit balance (favourable) of Rs.1,80,000. Cheques issued but not presented total Rs.25,000. Bank charges of Rs.3,000 are in the pass book only. Interest on overdraft of Rs.8,000 is in pass book only. Direct receipts by bank Rs.12,000 are in pass book only. What is the cash book balance?
Q19. The primary purpose of preparing a Bank Reconciliation Statement is to:
Q20. Which of the following errors does NOT affect the agreement of the trial balance?
Quiz Summary
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What is covered in JAIIB AFM Module A (Accounting Principles and Processes)?
JAIIB AFM Module A covers the basic accounting concepts and banking-related accounting processes that help in understanding how financial transactions are recorded and managed in banks. It builds the foundation of accounting principles, bookkeeping, reconciliation, and financial reporting. This module is an important part of the JAIIB Exam syllabus.
- Accounting principles and standards (Ind AS, IFRS, US GAAP basics)
- Basic accountancy procedures (double entry system, accrual vs cash basis)
- Journal entries, ledger maintenance, and bookkeeping
- Bank Reconciliation Statement (cash book vs passbook differences)
- Trial balance and rectification of accounting errors
- Depreciation accounting and asset valuation methods
- Capital and revenue expenditure classification
- Bills of exchange and related accounting entries
- Operational accounting systems in banks
- Back office functions and inter-branch reconciliation
- Bank audit and inspection processes (internal, statutory, risk-based audit)
Why should you attempt JAIIB AFM Module A practice quiz?
Practicing Module A questions is one of the most effective ways to strengthen your preparation. It helps you apply theoretical knowledge into practical exam-based scenarios.
- Improves understanding of accounting concepts
- Helps identify weak areas in syllabus
- Builds speed and accuracy for exam questions
- Familiarizes you with exam pattern and difficulty level
- Boosts confidence before final exam attempt
Also Check,
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| 50 Most Repetitive JAIIB AFM MCQs | Click here to Check |
What are the essential JAIIB AFM topics for exam preparation?
The essential topics for JAIIB AFM exam preparation are designed to build strong understanding of accounting principles and financial management concepts used in banking operations. These topics help in learning how financial statements are prepared, how banking transactions are recorded, and how key financial decisions such as valuation, costing, and budgeting are made.
- Accounting Concepts
- Bank Reconciliation Statement
- Rectification of Errors
- Maintenance of Company Accounts
- Cash Flow Statement
- Annuity
- Bond Valuation
- Cost of Capital
- Capital Budgeting
- Taxation basics
- Cost Accounting Methods
- Marginal Costing
How does solving AFM Module A practice questions help in exam preparation?
Solving practice questions regularly gives you a clear idea of how concepts are tested in the exam. It also improves your ability to recall important definitions, formulas, and accounting rules quickly.
- Better conceptual clarity in accounting principles
- Improved problem-solving ability in financial questions
- Strong revision of syllabus in less time
- Real exam-like practice experience
- Enhanced time management skills
Also Download:
What are the topics covered under JAIIB AFM Module A?
JAIIB AFM Module A covers the fundamental accounting principles and banking-related accounting processes. It focuses on how financial transactions are recorded, classified, and reported in banks. The module builds a strong base in accounting concepts, bookkeeping, reconciliation, and audit practices, which are important for understanding banking operations.
- Accounting concepts, scope, and standards (Ind AS, IFRS, US GAAP basics)
- Basic accountancy procedures (double entry system, accrual vs cash basis)
- Books of accounts (journal, ledger, subsidiary books)
- Bank Reconciliation Statement (cash book and passbook comparison)
- Trial balance and rectification of errors
- Depreciation accounting (methods and treatment)
- Capital and revenue expenditure
- Bills of exchange and accounting entries
- Operational accounting in banks
- Back office functions and unreconciled entries
- Bank audit and inspection (internal, statutory, risk-based audit)
Download JAIIB important MCQs Free PDF
Also, download the JAIIB important MCQs free PDF here:
| Study Material | Study Material |
| JAIIB IE and IFS Important Questions PDF | JAIIB PPB Important Questions PDF |
| JAIIB AFM Important Questions PDF | JAIIB RBWM Important Questions PDF |
FAQs
It covers accounting principles, bookkeeping, bank reconciliation, depreciation, trial balance, bills of exchange, and audit concepts.
Yes, it is very important because it builds the foundation of accounting and financial management concepts.
The focus is on basic accounting processes used in banking operations and financial reporting.
They improve conceptual understanding, speed, accuracy, and exam confidence.
Study concepts, revise regularly, and solve practice questions and mock tests consistently.
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