If you are employed in the banking sector or financial industry and have chosen the JAIIB exam for your career growth, you have made an admirable decision. Like many other aspirants, are you dreaming about clearing the JAIIB exam in 2024 and fearing a lack of Accounting and Finance for Bankers (AFM) expertise? Don’t worry! In the journey of clearing the JAIIB exam, Learning Sessions is with you. We are committed to providing you with the best AFM study material and support from our experts.
It is imperative to follow a structured and strategic approach to ensure success. join us in this article to start the career-transformative journey of JAIIB AFM 2024.
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Know the JAIIB AFM Syllabus
Candidates must understand the JAIIB exam AFM paper syllabus to follow a strategic approach.
AFM consists of four modules:
Module A: Accounting Principles and Processes
Module B: Financial Statement and Core Banking Systems
Module C: Financial Management
Module D: Taxation and Fundamental of Costing
JAIIB Exam: Identify module-wise AFM important topics
Module A
|
Module A: Accounting Principles & Processes |
||
|
S. No. |
Chapters |
Topics |
|
1 |
Definition, Scope, and Accounting Standards, including IndAS | Accounting Standards |
|
2 |
Basic Accountancy Procedures |
Concepts of Accountancy |
|
3 |
Maintenance of Cash/Subsidiary Books and Ledger |
Rules of Debit & Credit |
| 4 | Bank Reconciliation Statement |
Bank Reconciliation Statement |
|
5 |
Trial Balance, Rectification of Errors and Adjusting & Closing Entries |
Types of Errors & Suspense Accounts |
|
6 |
Depreciation & its Accounting | Different Methods of Depreciation |
|
7 |
Capital & Revenue Expenditure |
Examples of Capital & Revenue Expenditure |
|
8 |
Bills of Exchange |
Important Terms Related to Bills of Exchange |
|
9 |
Back Office Functions/Handling Unreconciled Entries in Banks |
Reconciliation of Inter Branch/Office Entries |
|
10 |
Bank Audit & Inspection |
Types of Bank Audits & Their Details |
Module B
|
Module B: Financial Statement and Core Banking Systems |
||
|
S. No. |
Chapters |
Topics |
|
1 |
Preparation of Final Accounts | Preparation of Balance Sheet and Profit & Loss Account |
|
2 |
Company Accounts – I |
Definition & Types of Companies |
| 3 | Company Accounts – II |
Form of Balance Sheet |
|
4 |
Cash Flow & Funds Flow |
Components of Cash Flow |
|
5 |
Final Accounts of Banking Companies |
Preparation of Final Systems & Disclosure Requirements |
|
6 |
Core Banking Systems & Accounting in Computerised |
Terms, Advantages & Disadvantages of Computerised Accounting |
Module C
|
Module C: Financial Management |
||
|
S. No. |
Chapters |
Topics |
|
1 |
Financial Management – An Overview |
Principles, Risk Return Trade-Off, Ethics & Social Responsibility |
|
2 |
Ratio Analysis |
Different Types of Ratios |
|
3 |
Financial Mathematics – Calculation of Interest and Annuities |
Calculation of Simple & Compound Interest and Definition of Annuities |
|
4 |
Financial Mathematics – Calculation of YTM |
Bond Theorems, Bond Price Volatility |
|
5 |
Capital Structure & Cost of Capital |
Approaches and Weighted Average Cost of Capital |
|
6 |
Equipment Leasing/Lease Financing |
Types of Leases |
|
7 |
Working Capital Management |
Working Capital Cycle |
|
8 |
Derivatives |
Types of Derivatives |
Module D
|
Module D: Taxation & Fundamentals of Costing |
||
|
S. No. |
Chapters |
Topics |
|
1 |
Taxation: Income Tax/TDS/Deferred Tax |
TCS, TDS, and Deductions |
|
2 |
An Overview of Cost & Management Accounting |
Methods & Significance of Cost & Management Accounting |
|
3 |
Costing Methods |
Applications of Costing Methods |
|
4 |
Standard Costing |
Applications of Standard Methods |
|
5 |
Marginal Costing |
Profit Volume Ratio & its Significance |
|
6 |
Budget & Budgetary Control |
Types of Budget |
Prioritize modules
Check our AFM syllabus priority video prepared by our expert to help candidates cover the AFM Syllabus in just 20 hours and learn the day-wise strategy to cover these 20 hours.
Practice Numerical
The numerical weightage of the numerical section in the AFM paper is 25-35 marks. The topics covering this numerical section include- Balance Sheet, Forex Exchange, Accounting, Interest components, costing etc. From Modules A and D practice as many numerals as you can, especially. These modules are primarily formula-based. Numericals from Module C are more complex and require more time to solve.
Note: No answer option will be given in the question paper. Candidates need to type the answer on their own.
AFM Study material- What Learning Session offers-
In JAIIB, the Accounting and Finance exam is the most difficult one, especially for non-commerce candidates. Considering the busy schedule of bank employees, it is very difficult to prepare for the exam through Mcmillan’s 4th edition books.
We at Learning Sessions provide you with the latest JAIIB AFM study material and notes covering 65+ hours of full video course, 4500+ chapter-wise from the previous year & memory recalled questions, 150+ mock tests and Epdf notes. This video course covers concepts in Hindi mixed English language, which makes it easy for the candidates to understand and learn.
Get JAIIB AFM Free Mock Tests
Apart from this, the AFM video course and the previous year’s questions are effective in clearing the AFM paper in the first attempt.
What AFM study material covers-
- Mock tests and Epdfs for regular practice.
- Watch our recorded videos 24×7 at your convenience and get all the content anytime, anywhere.
- Detailed subject expertise for JAIIB exam attempt.
- In-depth analysis of the subject till the last day of your exam under the guidance of our experts.
Points to keep in mind about JAIIB AFM Paper
- The second JAIIB exam paper predominantly covers accounting-related topics.
- This paper involves numerous numerical problems. Developing familiarity with the questions and improving analytical and problem-solving skills require consistent practice.
- Therefore, initiate practice sessions focusing on various methods and formulas. Understand each concept thoroughly and attempt solving related examples to grasp practical applications.
- Gradually increase the difficulty level of the questions you tackle systematically. Starting with challenging questions may lead to discouragement initially. Begin with simpler tasks and progress gradually.
- Document the formulas and procedures as you learn them, as this helps in retention. Maintaining a separate notebook for formulas facilitates easy reference during revisions.
- Incorporate practice exams into your revision strategy. This aids in familiarizing yourself with the exam format and style, while also offering valuable feedback on areas needing improvement and assessing your speed.
JAIIB AFM Previous Year Questions
Additional Tips for JAIIB AFM Paper
- Prioritise Module C during AFM preparation, as it is one of the highest-scoring modules.
- Follow with Module A.
- Move on to Module D after completing Modules C and A.
- Save Module B for last, as it typically has lower scoring potential.
- Consider skipping Module B if time is a constraint.
- Focus on practising numerical, particularly from Modules A and D. Questions from these modules are formula-based and can be solved efficiently using the appropriate formulas and provided values.
- Note that numericals from Module C are more complex and may require additional time.
JAIIB Exam: AFM Memory Recollected Questions
| No. |
Questions from JAIIB – PPB |
Answer |
|
1 |
Which is the best operable within a ‘first to market’ scenario even though there would be few competitors in the company industry?
a. Elasticities b. Market skimming c. Market penetration d. Marketing research |
b |
|
2 |
Who can’t issue CDs?
a. LABs b. RRBs c. Both a & b d. None of these |
c |
|
3 |
What do you mean by golden parachute?
a. At the time of target acquisition, attractive tractive benefits that are provided to top executives of the company. b. Benefits that are given to the clerical and subordinate staff of the company at the time of target acquisition c. Benefits that are given to top executives of the acquirer company at the time of target acquisition d. Benefits that are given to clerical staff and subordinate staff of the acquirer company at the time of target acquisition |
a |
|
4 |
A bank wishes to undertake an insurance the business. Whose permission is required before the start of business of insurance?
a. Life Insurance Corporation of India b. General Insurance Corporation of India c. Insurance regulatory and development authority d. Reserve Bank of India |
c |
|
5 |
In periods of boom, which leads to economic instability Reserve Bank does not resort to
(i) Selling of first-class securities in RBIs precession in the market, to reduce the money supply as a measure of open market operations (ii) As a measure of open market operations buying securities in the market (iii) Increasing the bank rate as a measure of open market operations a. Only (i) and (ii) b. Only (i) and (iii) c. Only (ii) and (iii) d. (i), (ii), and (iii) |
d |
|
6 |
What is meant by A/B testing in the field of marketing?
a. Testing of 2 different products b. Testing 2 versions of an advertisement to see which elicits the best response c. Clinical testing of medical products before legally allowing them for sale d. Testing via two mediums, such as radio and television. |
b |
|
7 |
The mandate given by the illiterate account holder should be
a. Attested by a manager who confirms and certifies the same. b. Attested by Notary public or Magistrate. c. It is enough if we ask for a Mandate letter with LTI that has to be attested by an authorized official. d. We cannot accept a mandate from an illiterate customer at all.
|
b |
|
8 |
Retailer store that carries a deep assortment of speciality product lines and customers served by knowledgeable staff is classified as
a. Category killer b. Discount killer c. Limited inbound retailers d. Limited outbound retailers
|
a |
|
9 |
What is the shareholding pattern in Regional Rural Banks
a. Central Government 50%, State Government 35%, Sponsoring Bank 15% b. Central Government 50%, State Government 15%, Sponsoring Bank 35% c. Central Government 15%, State Government 35%, Sponsoring Bank 50% d. Central Government 35%, State Government 50%, Sponsoring Bank 15%
|
b |
|
10 |
A result of a computer virus cannot lead to what of the following?
a. Disk Crash b. MotherBoard Crash c. Corruption of program d. Deletion of files
|
b |
Prepare JAIIB Exam all modules with Learning Session’s JAIIB Exam Preparation Series 2024. Check for JAIIB AFM Paper 3 Preparation Strategy
Remember, following a balanced approach and consistent practice along with effective study materials can significantly contribute to your success in the JAIIB AFM paper. When preparing for the JAIIB AFM paper, keep in mind that the primary goal is to qualify rather than attain perfection.
After the completion of each module, including numerical exercises, engage in mock tests to assess your strengths and weaknesses. Dedicate efforts to enhance areas of improvement, ensuring a well-rounded performance.
JAIIB AFM FAQs
Q1. What is the syllabus of the JAIIB AFM paper?
The syllabus typically covers topics like Risk Management, Basel Accords, Financial Markets, Financial Services, Treasury Management, Derivatives, Portfolio Management, and other advanced financial management concepts.
Q2. What is the exam pattern for the JAIIB AFM paper?
The exam usually consists of multiple-choice questions (MCQs). There are typically 120 questions, and candidates have 2 hours to complete the paper.
Q3. What are the passing criteria for the JAIIB AFM paper?
The passing marks for the JAIIB AFM paper are generally around 50% of the total marks.
Q4. Is there any negative marking in the JAIIB AFM paper?
There is no negative marking for incorrect answers, so it’s advisable to attempt all questions.
Q5. Is the use of calculators allowed in the JAIIB exam AFM paper?
In the AFM exam, candidates are allowed to use a battery-operated portable calculator. The calculator can be of any type up to 6 functions, and 12 digits.
Q6. Are there any specific study materials recommended for JAIIB AFM preparation?
Yes, there are various study materials available from reputable publishers specialising in banking and finance exams. Additionally, previous years’ question papers and mock tests are extremely helpful for revision.
