When you start preparing for the JAIIB exam, you need to build a clear and strong understanding of the concepts. That is where AFM Module B becomes important. This module focuses on financial statements and also explains how they are linked with modern banking systems like core banking.
In this blog, we have provided a JAIIB Module B practice quiz along with a free PDF containing 100+ questions with correct answers.
Download Free JAIIB AFM Module B Practice Questions PDF
To make your preparation more effective, we have provided a free PDF that includes practice questions for JAIIB AFM Module B. This PDF is designed to cover all important topics from the syllabus, including financial statements, company accounts, and core banking systems, along with clear explanations to help you understand the correct answers.
Attempt A Free JAIIB AFM Module B Practice Quiz
Now, let’s go through a set of practice questions based on key topics from Module B. These questions will help you understand financial statements, cash flow, and company accounts, and give you a clear idea of the exam pattern. Regular practice will improve your accuracy, speed, and conceptual clarity before the exam.
1. Which of the following best describes ‘Information Security’ in the context of core banking operations?
2. A major difference between computerised and manual accounting systems is:
3. In bank core banking systems, ‘Straight-Through Processing’ (STP) means:
4. A bank’s ALM (Asset-Liability Management) module within CBS is primarily used for:
5. Under computerised accounting in banks, ‘EOD (End of Day) processing’ involves:
6. Which of the following is a DISADVANTAGE of computerised accounting systems?
7. RTGS (Real Time Gross Settlement) and NEFT are electronic payment systems. Which statement correctly distinguishes them?
8. In the context of internet banking, ‘Two-Factor Authentication (2FA)’ is used to:
9. A bank uses a ‘Data Warehouse’ in its IT infrastructure. The primary purpose of a banking data warehouse is:
10. Which of the following correctly describes ‘Fintech’ and its influence on traditional banking?
11. Under computerised bank accounting, the ‘General Ledger Control Account’ reconciliation with subsidiary ledgers is important because:
12. The ‘Know Your Customer’ (KYC) module in a CBS is integrated with which process?
13. In a core banking environment, ‘Disaster Recovery (DR)’ planning is critical. Which statement best describes the concept of Recovery Time Objective (RTO)?
14. Which of the following is a key component of a Core Banking Solution (CBS) architecture?
15. Under the framework for computerised accounting, ‘Audit Trail’ refers to:
16. A bank migrates from a legacy system to a new CBS. During parallel run, which risk is of PRIMARY concern?
17. Which of the following best describes the role of the World Wide Web (WWW) in modern banking?
18. In computerised bank accounting, ‘Nostro’ and ‘Vostro’ accounts are used for:
19. A bank’s IT system classifies its security controls into three categories: Preventive, Detective, and Corrective. Which of the following is an example of a DETECTIVE control?
20. A bank is implementing ‘Open Banking’ APIs. Which of the following best describes the implication for bank accounting and information systems?
Quiz Summary
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Which topics are covered in JAIIB AFM Module B (Financial Statement and Core Banking Systems)?
JAIIB AFM Module B focuses on financial statements, company accounts, and core banking systems. It helps banking professionals understand how financial data is prepared, analyzed, and used in real banking operations. It also introduces how technology supports accounting in banks.
| Units | Topics Covered |
| Balance Sheet Equation | Balance sheet equation, computation of equation |
| Preparation of Final Accounts | Trial balance, adjustment entries, financial statements |
| Company Accounts – I | Types of companies, share capital, issue of shares |
| Company Accounts – II | Balance sheet format, impact of Ind AS |
| Cash Flow & Funds Flow | Cash flow statement, fund flow analysis |
| Final Accounts of Banking Companies | Bank financial statements, P&L, balance sheet, disclosures |
| Core Banking Systems | Computerised accounting, CBS components, information security |
What are the most important topics to focus on in module B?
The most important topics in JAIIB AFM Module B are Company Accounts and Cash Flow Statement. These areas are high-scoring and regularly asked in the exam, so preparing them well can help you secure good marks.
| Topic | Description | Approx. Marks |
| Company Accounts | Covers journal entries, accounting cycle, and key accounting concepts. This is a scoring area and forms a major part of the module. | 5–10 |
| Cash Flow Statement | Focuses on cash inflows and outflows. It is an important and non-negotiable topic for exam preparation. | 7–8 |
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Why should you attempt JAIIB AFM module B practice quiz?
Practicing questions is one of the most effective ways to prepare for Module B. It helps you understand how theoretical concepts are applied in exam questions.
- Improves understanding of financial statements
- Helps in applying concepts like cash flow and balance sheet
- Builds speed and accuracy
- Familiarizes you with exam pattern
- Boosts confidence before exam
Also Check,
| Related Topics | Link |
| 50 Most Repetitive JAIIB RBWM MCQs | Click here to Check |
| 50 Most Repetitive JAIIB PPB MCQs | Click here to Check |
| 50 Most Repetitive JAIIB IE & IFS MCQs | Click here to Check |
| 50 Most Repetitive JAIIB AFM MCQs | Click here to Check |
How does module B help banking professionals in real work?
Module B is not just for exam clearing it directly connects with day-to-day banking work. It helps you understand how financial reports are prepared and how banking systems function.
- Helps in analysing financial statements of customers
- Useful in credit appraisal and loan processing
- Improves understanding of bank balance sheet
- Builds knowledge of core banking systems
- Supports decision-making in financial roles
How does solving AFM module B practice questions help in exam preparation?
Regular practice gives you clarity on how questions are framed and how to solve them efficiently in the exam.
- Strengthens financial statement concepts
- Improves problem-solving skills
- Helps in quick revision
- Gives real exam-like experience
- Enhances time management
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 focuses on financial statements, company accounts, and core banking systems.
Yes, it is very important as it covers practical accounting and banking system concepts.
Study concepts, revise regularly, and solve practice questions and mock tests.
It includes practice questions, answers, and explanations from all topics.
It helps you understand how modern banking operations are managed using technology.
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