AFM 50 most important questions for JAIIB 2024 - Motivational Banker

Bonus – AFM Preparation Strategy below and special coupon code in the end-

Questions-

1. XYZ Limited created mortgage on its property in favour of Bank A on January 12, 2009 and in favour of Bank B on January 27, 2009. These charges were registered on Feb 28 and Feb 8 respectively.

Question 1 of 50

2. ABC limited want to make an investment of Rs 39000 in a project, the cash inflows from the project shall be 8000 respectively. At 9%, the discount factor is 0.917, 0.842, 0772 and 0.798 of first 4 years and at 11% these are 0.901, 0.812. 0.731, 0.659 respectively. Calculate the internal rate of Return.

Question 2 of 50

3. If rebate account is created for the un-earned amount if discount recovered by the bank, what journal entry is required to be passed in the next financial year?

Question 3 of 50

4. A firm purchased fixed assets with the available cash. This would:

Question 4 of 50

5. A company offers 10000 shares of Rs.10 each. Public subscribed for 22000 shares. This is the case of?

Question 5 of 50

6. Securities premium is shown under?

Question 6 of 50

7. AS 2 is about?

Question 7 of 50

8. It is essential to standardize the accounting principles and policies in order to ensure

Question 8 of 50

9. Which of the following kinds of liabilities is not included in the balance sheet of a firm:

Question 9 of 50

10. Total time during which the debt is amortized is called;

Question 10 of 50

11. A sleeping partner asks the bank to stop operations in the account. Next day he comes to request that he gave the instruction by mistake:
(i) Bank can allow operations if he gives in writing
(ii) Bank can allow operation if all the partners make a request
(iii) Bank can allow operation if he gives in writing

Question 11 of 50

12. Which of the following are the books that are used in the computer accounting function?

Question 12 of 50

13. As per Prevention of Money Laundering Act, The bank are required to maintain record of transactions below Rs 10 lakhs even, if the aggregate of such transactions is Rs.......... during ..............?

Question 13 of 50

14. Cash is a______ account while bank is a_____ account

Question 14 of 50

15. What is MMMFs

Question 15 of 50

16. Opening balance in the account of Mr.Z is Rs.10000. Following transactions took place on January 23. He deposited a cheque of Rs.3000 for local clearing, which will be cleared next day. A cheque of Rs.2000 issued by him from his account is paid from his account. Bank credited interest of Rs.100 to his account. What is the balance at close of the day?

Question 16 of 50

17. When a company purchases own shares, it is called?

Question 17 of 50

18. In case of electronic clearing services (ECS), the ECS-Debit represents which of the following:

Question 18 of 50

19. A banking company is required to furnish 3 copies of balance sheet and profit and loss account to:

Question 19 of 50

20. An exporter offers a FC export bill of Euro 10000. The US$/Euro rate in London is 1 euro=1.70/1.75 USD and USD rupee rate in the Mumbai is Rs50/30. If there are no other charges, how much amount will be credited to the account of exporter?

Question 20 of 50

21. Raman need Rs 15 lac for the marriage of his sister at the end of 5year. Considering that the interest rate is 10% at present, how much lesser amount he will have to deposit in the bank FDR if the compounding is half yearly and not yearly?

Question 21 of 50

22. When the exchange of currencies takes place on 2nd working day (T+2), which of the following type of exchange rate will be applicable?

Question 22 of 50

23. A Treasury bill with a par value of Rs 100000 due one-month from now is selling today for Rs 99010. The effective annual yield is ...........

Question 23 of 50

24. In case of electronic clearing services (ECS), the ECS-Credit represents which of the following:

Question 24 of 50

25. If the forfeited shares are to be reissued at a discount, which of the following statement is correct:

Question 25 of 50

26. Arrange the following steps involved in capital budgeting in order of their occurrence
(i) Project Selection
(ii) Project appraisal
(iii) Project generation
(iv) Follow up
(v) Project execution

Question 26 of 50

27. A truck was purchased for Rs.8 lac with expected life of 8 years. At the end of 5th year, it was sold for Rs.312000. What is the profit or loss on sale of this vehicle?

Question 27 of 50

28. Out of the prescribed no. of maximum no. of directorships that can be held by a person concurrently, the maximum number of such public companies can be______ as per provisions of Companies Act 2013:

Question 28 of 50

29. The Coupon interest divided by the current market price of a bond gives:

Question 29 of 50

30. As per KYC policy, the banks should not allow opening and/or holding of an account on behalf of a client/s by professional intermediaries, like Lawyers and Chartered Accountants etc:

Question 30 of 50

31. Which of the following kinds of preference share cannot be issued by a company:
(i)Participating
(ii) Irredeemable
(iii) Subsidiary

Question 31 of 50

32. In book keeping, credit means:

Question 32 of 50

33. M/s Srivastav & Co. a partnership firm is maintaining a current account with your branch with operational instructions to be operated by any one of the partners. A cheque singed by Rishabh is countermanded by Swati which he claims was, through an oversight at a later stage. Subsequently, the said partner approaches the bank to revoke the instructions of lifting the stop payment. The bank would:

Question 33 of 50

34. Which of the following is a characteristic of a debenture?

Question 34 of 50

35. Car is an example of________ while _______ is personal account
(i) Real account, Debtor
(ii) Personal account, Bank
(iii) Real account, Bank
(iv) Real account, Mohan

Question 35 of 50

36. What is Auditing ?

Question 36 of 50

37. As per RBI, the banks should frame their KYC policies incorporating which of the following key elements
(i) Customer Acceptance Policy
(ii) Customer Identification Procedures
(iii) Monitoring of Transactions
(iv) Risk Management.

Question 37 of 50

38. For KYC purpose, under customer acceptance policy, the parameters of risk perception should be clearly defined in terms of
(i) The nature of business activity,
(ii) location of customer and his clients,
(iii) mode of payments,
(iv) volume of turnover,
(v) social and financial status

Question 38 of 50

39. As per Prevention of Money Laundering Act, The bank are required to maintain record to transactions for a period of............ form date of cessation of the transaction:

Question 39 of 50

40. A foreign banking company is required to display in a conspicuous place in its principal office and in every branch office in India a copy of its last audited balance-sheet and profit and loss account shall, not later than .......... of any year in which it carries on business.

Question 40 of 50

41. Depreciation arises because of:

Question 41 of 50

42. If the company has to sign loan documents or open a bank account or create an equitable mortgage or any other charge, in favour of the bank for security of a loan, who will come to the bank deposit the original title documents of the property on behalf of the company:

Question 42 of 50

43. A financial happening that affects the finance of the business is called:

Question 43 of 50

44. Identify the incorrect statement regarding depreciation
(i) Under WDV method, depreciation goes on increasing year after year
(ii) Under SLM, the book value of the asset can be reduced to zero
(iii) Under SLM, equal depreciation is charged every year
(iv) Under WDV, the book value of the asset can be reduced to zero

Question 44 of 50

45. Which of the following is/are methods of recording depreciation in the books

Question 45 of 50

46. The staff involved in cash transfers in ATM replenishment, is required to be
(i) thoroughly screened,
(ii) their photos taken
(iii) their finger prints taken
(iv) indemnity taken from them for any incident

Question 46 of 50

47. Debt financing is a cheaper source of finance because of

Question 47 of 50

48. If a company is to re-issue partly paid share with face value of Rs.100, what journal entry of the following is not correct, if the first and final call is Rs.30 per share and the discount is 10%.

Question 48 of 50

49. An asset is purchased for Rs. 2 lacs. Its depreciated value is Rs. 1 lac at the end of 5th year at 10%. The depreciation in this case has been charged at .........under .......... method.

Question 49 of 50

50. The provision for bad and doubtful debts at the time of dissolution of a film is transferred to which of the following accounts.

Question 50 of 50


 

Preparation Strategy:

Similar to other JAIIB papers, it consists of 100 questions, totalling 100 marks. The duration of the exam is 2 hours, and there is no negative marking. You need to score at least 50 marks to pass the exam.

 

1. Prioritize Modules: Focus first on Modules A and C, as they cover significant portions of the syllabus and are high-scoring.

2. Practice Numericals: Emphasize practicing numerical problems from Modules A and C, as these are formula-based and can be efficiently solved with practice.

3. Sequential Learning: After completing Modules A and C, move on to Module D, followed by Module B, which has relatively lower scoring potential.

4. Mock Tests and Revision: Regularly practice with mock tests and previous years’ questions to identify areas for improvement and manage time effectively during the exam.

5. Detailed PDF Notes: Obtain high-quality, detailed PDF notes for quick revision before the exam. These notes should cover all important concepts and formulas.

6. Extensive Question Practice: Prepare with more than 250 questions per paper to ensure a thorough understanding of the topics and to build confidence in tackling various question types.

7. Use Reliable Resources: Consider using resources which cover all topics in detail. MacMillan books although are great, might be too heavy for beginners. Find good video courses which provide maximum value in less time.

8. Consistent Revision: Don’t underestimate the importance of regular revision. Revisit key concepts and important topics to reinforce your understanding and retention. Use PDF notes for the revision extensively.

To get All topics video lectures, PDF notes and 1000+ questions, get your AFM preparation kit here-

  • 60%Off
    Paper-3-AFM

    Validity – 1 YEAR from date of purchase

    JAIIB 2023: Video Lectures + PDF Notes + Mock tests + Revision live classes

    Language of course – Bilingual (English text and Simple…

    Original price was: ₹2,499.00.Current price is: ₹999.00. Add to cart

To get All topics video lectures, PDF notes and 1000+ questions for all subjects of JAIIB, get your JAIIB 2024 preparation kit here-

  • 60%Off
    JAIIB 1 YEAR COMBO KIT

    Validity – 1 YEAR from date of purchase

    JAIIB 2024: Video Lectures + PDF Notes + Mock tests + Revision live classes

    Language of course – Bilingual (English text and…

    Original price was: ₹7,499.00.Current price is: ₹2,999.00. Add to cart
  • 60%Off
    JAIIB 6 months COMBO KIT

    Validity – 6 months from date of purchase

    JAIIB 2024: Video Lectures + PDF Notes + Mock tests + Revision live classes

    Language of course – Bilingual (English text and Simple…

    Original price was: ₹6,499.00.Current price is: ₹2,599.00. Add to cart

Here is a special coupon for you -