JAIIB Preparation Strategy: The Indian Institute of Banking and Finance (IIBF) will soon conduct the JAIIB November Cycle 2023. IIBF offers JAIIB as a flagship course in banking and finance for professionals employed in the banking and finance sector. There will be a total of 4 papers being tested. IIBF provides a number of study materials that candidates can make use of for these exams.
This article will provide you with the JAIIB Preparation Strategy for 2023. This will cover how to tackle the new syllabus and some general tips and tricks to manage your studying with a hectic lifestyle.
Table of Contents
- JAIIB Preparation Strategy – Exam Pattern Overview
- JAIIB Preparation Strategy – Section Wise Tips
- JAIIB Preparation Strategy – 5 Top Tips
- JAIIB Preparation Strategy – Conclusion
- JAIIB Preparation Strategy – Frequently Asked Questions
JAIIB Preparation Strategy – Exam Pattern Overview
The JAIIB Examination Pattern has four papers:
- Indian Economy and Indian Financial System
- Principles and Practices of banking.
- Accounting and Finance for Bankers
- Retail Banking and Wealth Management
|Subjects||No. of Questions||Total Marks||Duration|
|Indian Economy and Indian Financial System||100||100||2 hours|
|Principles and Practices of Banking||100||100||2 hours|
|Accounting and Finance for Bankers||100||100||2 hours|
|Retail Banking and Wealth Management||100||100||2 hours|
There will be a 0.25 negative marking for each wrong answer.
JAIIB Preparation Strategy – Section Wise Tips
How to prepare for JAIIB Exam? This question haunts aspirants. Let us discuss the section-wise strategy for the JAIIB exam. Candidates are suggested to go through the entire article in order to get a clear understanding of the preparation strategy.
Indian Economy and Indian Financial System
- This subject deals with the basics of the economy. It will introduce all the basic definitions, functions, and other descriptions required.
- This paper requires thorough learning. It has a lot of theoretical concepts that require memorization more than understanding
- The paper mainly has four parts- Economic architecture, concepts related to economic architecture, financial architecture, and the concepts related to the financial architecture
- You can consider these are two main headings- mainly, the economic part and the financial part.
- The introduction to the economic part will include the structure of an economy. What makes it up and what makes it characteristic? What are the different features that make an economy a capitalistic one or a mixed one?
- Other topics for this first part will include the various problems encountered in any economy, the importance, function, and features of ‘money’ as a whole, etc.
- The second main half is the financial part. This deals with the financial architecture of the economy.
- The distinction between the economic part and the financial part should be clear. That way this paper will be easier to learn. The economic section deals with the fundamentals of an economy as a whole and the main indicator of the health of an economy- money. Finance, on the other hand, deals with more specific services that organizations within an economy offer. These are mainly regulatory policies, financial institutions, the market, and private services like loans, investments, etc.
- Be thorough with the functions of different financial institutions. Put a particular focus on the features, functions, and working of institutions like the RBI, SIDBI, NABARD, etc.
- There are a number of financial services covered so make sure to make note of the most defining features of each.
Principles and Practices of Banking
- This paper is mostly based on the theory of banking and current affairs related to the banking industry.
- For the latest banking-related information, keep checking the RBI website for circulars and changes in rate.
- Keep a track of the latest updates on the official websites of IIFB, SEBI, RBI, BIS, IRDAI, and FEDAI.
- Make detailed notes. This section involves learning about a lot of practices and processes, so making organized chronological notes will help you understand these better.
- Topics like Module A (Indian Financial System), Module B (Functions of Banks), Module C (Banking Technology), and Module D (Support Services, Marketing of Banking) require a thorough study of theory. These are the subjects where it’s best to write down key points for memorization and revision.
- For Module E (Ethics in Banking and Financial Institutions), you have to have a more general understanding of ethics and good practices in banking. This will help you understand most topics of this module easily. You can still jot down key points, but you’ll mainly need experience-based understanding for this.
- Practice the mock tests offered by Oliveboard for its JAIIB course to sharpen your problem-solving skills.
Accounting & Finance for Bankers
- This is the second paper for the JAIIB exam and is mostly based on accounting concepts.
- This section is a numerical heavy section. It requires quite a lot of practice to get used to the questions and to then increase your speed in analyzing and solving the questions.
- So make sure to start your practice with the formulas and various methods. Learn a concept and attempt the solved examples based on that. This way you’ll be able to understand the application of each concept you learn.
- Make sure to increase the difficulty level of the questions you solve slowly and steadily. Starting off with complicated questions can cause you to get dispirited about not being able to solve the questions. Start easy and go from there.
- Make sure to learn the formulas and methods by writing them. This is the best way to retain information. Keep a separate note for the formulas so that revision is also easy.
- Make mock tests a part of your revision schedule. Not only will this familiarise you with the exam pattern and interface, but you will also gain insight on points to improve and a gauge on your speed.
Retail Banking and Wealth Management
- You will be learning about the retail side of banking and the various methods of wealth management.
- The first module is mostly an introduction, so make sure to read thoroughly and make notes of definitions. These should be exact as the wording is important.
- Make note of the features, advantages, and disadvantages of retail banking that are presented.
- The second module gets specific. It deals with the different products you find in banking. These include credit cards, debit cards, etc. You will also learn about what ideas are considered for the customer when these products are developed.
- In the recovery side of this module, make sure to read and learn the process of recovery carefully. Make tables and flow charts for easier comprehension. You will learn about the classifications of accounts based on defaults, how the banks work to recover unpaid loans, and how they deal with the rescheduling of these loans. Give particular emphasis to the SARFAESI Act of 2002.
- The third module is a little lighter and deals with the marketing side of banking. How the banks get their products to the target customers, the different channels of product delivery, the ways in which banks maintain their relations with their customers, etc.
- Make short notes on the above topics. Understand the processes employed in the marketing of banking products and services. Awareness of these delivery channels will help in making concepts clearer.
- The fourth module is for wealth management. This basically encapsulates the various steps involved in studying, planning and managing ones wealth and assests.
- Practice as many questions on all the major topics, risk analysis and the different types of planning in particular. Make sure to practice n number of mock tests for the same.
JAIIB Preparation Strategy – 5 Top Tips
The exams conducted by IBPS and SBI are not similar to those of JAIIB. SBI and IBPS exams are open to common candidates, but not JAIIB. Those employed in banks or financial institutions are eligible to apply for JAIIB. A diploma in Banking and Finance (DBF) does not require applicants to be employed by a bank.
For the coming JAIIB exams 2023, we have come up with 5 proven preparation methods that will help you score well and clear JAIIB with confidence.
Plan your studies in a detailed manner
As working professionals, it can be difficult to devote ample amount of time to preparation of an exam like JAIIB. But it is very much possible to clear the exam in the time you get to prepare.
All that counts is to make sure that while working through the study material, avoid working on other activities simultaneously. Studying and preparing for the JAIIB exams takes a lot of time and a dedicated JAIIB Preparation plan. Using our thoroughly researched and well-structured study materials, this process can be a lot more convenient for you. Remember, no distractions. Set aside no less than one or two hours each day, if possible.
Learn the syllabus for the JAIIB 2023 exam
Prior to beginning your study preparations, check your syllabus. In order to stay on track with what and how much to read, knowing the syllabus is very important. Having a good understanding of one or two of the subjects above will help you identify and determine which ones require more preparation and focus. When you are reading the material, you should note down or highlight significant points so that they can be referred to later in the revision process. In addition, it will indicate where you require some assistance so that you can take advantage of mentors to clarify your doubts.
Mock tests for the JAIIB are essential
The JAIIB mock test is available online to test your knowledge after you have reviewed the theory sections in detail. After you have developed a deep understanding of the theory, you can also take a mock test series using your login credentials. It will help you analyze your performance and assist you in knowing what your stronger and weaker areas are. You should act as if you are taking the final JAIIB exam when taking a mock test. It will be difficult for you to see the areas where you lag behind and those where you only need a little brush up if you ignore it.
Revise More often
You should not stop preparing for your exam after passing the mock tests. Make sure you set aside time for revision after taking the mock test. As you study, you can review the points you made notes on and work on your weak points. If necessary, you can take a mock test again. We are always available to help you with sections where you feel stuck. In preparation for the test, our faculty is available to help you clear any doubts.
The JAIIB exam can be cleared in one attempt
It is best to take all three subjects at the same time. Although the passing mark in JAIIB is 50 out of 100, if you score 45 in two subjects and 50 in total, you will be declared successful. How exciting!
JAIIB Preparation Strategy – Conclusion
JAIIB is a sought-after certification for banking professionals, and correct preparation will help candidates ace the exam with flying colors. As our successful participants have experienced, the JAIIB exams are easy to pass on the first attempt if you go well-prepared. You can attempt all questions in the paper because there is no negative marking. However, you have two hours to complete the test. If you have any questions, you can post them in the comment section. We hope this JAIIB Preparation Strategy will help you clear the exam. Best of luck to you on your journey. Stay safe.
JAIIB Preparation Strategy – Frequently Asked Questions
Yes, but aspirants need a robust preparation strategy to back it up.
The online application process for JAIIB starts on 1st August 2023.
The October 2023 cycle of JAIIB 2023 will be held on the 8th, 14th, 15th, and 29th, of October 2023.
The revised JAIIB syllabus will be implemented from the May/June cycle in 2023.
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Dikshant (DJ) is an engineer turned banker. He has cleared many competitive exams before his current placement. Being an officer in the bank, DJ is super busy but makes sure that he always finds time for writing informative & exam-oriented content to help students in cracking competitive exams such as SBI, IBPS, SSC, JAIIB/ CAIIB and many more.