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This is the complete JAIIB IE-IFS mock test series for 2027, covering Indian Economy & Indian Financial System module by module and chapter by chapter. Every test follows the IIBF objective pattern, shows the correct answer the moment you choose an option, and explains why the other options are wrong. Answers appear instantly with explanations, there is no negative marking, and you can practise the free tests without creating an account.
Scroll down for free sample questions with answers, the JAIIB exam pattern and marking scheme, and a FAQ covering pass marks, question counts and how many mocks to attempt.
Try these 12 sample questions right now — no signup, no payment. Click Show answer to reveal the correct option and the reasoning behind it. They are taken directly from the free tests listed above.
Group Question: During the British colonial period, India's commerce and trade were severely hampered by unilateral transfers of capital. Q: Who published the first estimates of national income in India in his book "Poverty and Un-British Rule in India"?
Correct answer: C — Dadabhai Naoroji
According to the source, Dadabhai Naoroji published the first estimates of national income in India for the year 1867-1868 in his book 'Poverty and Un-British Rule in India'.
What term is used to describe economy-wide fluctuations in production or economic activity over several months or years?
Correct answer: B — b) Business cycle
The term business cycle (or economic cycle) refers to economy-wide fluctuations in production or economic activity over several months or years.
On what date is the Union Budget typically presented in the Parliament of India?
Correct answer: B — b) First of February
The annual budget of the country is called the Union Budget... Now, it is presented on the first of February. The rationale is that it provides time to implement it from first of April.
Group Question: During the British colonial period, India's commerce and trade were severely hampered by unilateral transfers of capital. Q: What was Dadabhai Naoroji's estimate of the per capita income for the year 1867-1868?
Correct answer: B — Rs. 20 per annum
Dadabhai Naoroji estimated the per capita income to be Rs. 20 per annum at current prices for the year 1867-1868.
Which of the following characteristics best describes the 'synchronic' nature of a business cycle?
Correct answer: C — c) Upward and downward movements tend to occur at almost the same period in all industries across the economy.
A business cycle is synchronic. The upward and downward movements tend to occur at almost the same period in all industries, generating a wave across other connected industries.
In which year was the Railway Budget, which was previously presented separately, merged with the Union Budget?
Correct answer: C — c) 2017
Another change which has been introduced from the year 2017 is that the Rail Budget, which was earlier presented separately... has now been merged with the Union Budget.
Group Question: During the British colonial period, India's commerce and trade were severely hampered by unilateral transfers of capital. Q: Which of the following were included under 'Home Charges' that contributed to the wealth drain? (I) Dividends to East India Company shareholders (II) Interest on loans raised by Govt of India in England (III) Pensions of retired British officers (IV) Salaries of the secretary of state for India.
Correct answer: D — (I), (II), (III), and (IV)
During British control from 1858 to 1947, 'Home Charges' included dividends to EIC shareholders, interest on loans, expenditure on the British army in India, pensions of British officers, and salaries of the secretary of state for India.
Which of the following statements regarding the characteristics of a business cycle are correct? (I) The upward and downward movements are perfectly symmetrical. (II) Cyclical fluctuations are recurring in nature. (III) There can be an indefinite depression or eternal boom period. (IV) The downward movement is typically more sudden and violent than the upward movement.
Correct answer: B — b) (II) and (IV) only
Cyclical fluctuations are recurring, and the downward movement is more sudden and violent than the upward movement (asymmetrical). The text states there can be no indefinite depression, and movements are not symmetrical.
How is 'Net Tax Revenue' to the Centre calculated from Gross Tax Revenue?
Correct answer: C — c) Gross tax revenue minus NCCD transferred to National Calamity Contingency Fund minus States' Share
Net Tax Revenue: Gross tax revenue (-) NCCD transferred to the National Calamity Contingency Fund (-) States’ Share.
Group Question: The World Bank classifies economies considering their per capita income to benchmark economic development. Q: How does the World Bank currently classify the Indian economy?
Correct answer: B — Lower-middle income economy
The World Bank classifies economies into four categories. India falls under the category of a lower-middle income economy, as its PCI of $1891 (as of 2019) falls between $996 and $3895.
Identify the correct sequence of the four phases of a business cycle as identified in the source text.
Correct answer: C — c) Boom, Recession, Depression, Recovery
A business cycle is identified as a sequence of four phases, viz., boom, recession, depression and recovery.
Which of the following are components of Total Non-Tax Revenue for the Central Government? (I) Interest Receipts (II) Dividend and Profits (III) External Grants (IV) Goods and Services Tax (GST)
Correct answer: C — c) (I), (II), and (III) only
Non-Tax Revenue includes Interest Receipts, Dividend and Profits, External Grants, Other Non-Tax Revenue, and Receipts of Union Territories. GST is a component of Tax Revenue.
Our mock tests mirror the pattern below so that your practice score is a fair predictor of your real score. IIBF revises the syllabus and pass criteria from time to time, so treat this as a working summary and confirm the current rules on the official IIBF website before your exam.
| Particular | Details |
|---|---|
| Conducting body | Indian Institute of Banking & Finance (IIBF) |
| Mode | Online, at designated test centres |
| Number of papers | 4 |
| Marks per paper | 100 |
| Duration per paper | 120 minutes (2 hours) |
| Question type | Objective multiple choice, including case studies and numerical problems |
| Negative marking | None |
| Minimum per paper | 45 marks out of 100 |
| Aggregate to pass | 50 per cent across all papers in one attempt |
| Paper credit | A paper scored at 50 or above is normally carried forward if the aggregate is not cleared |
| Attempts allowed | Four consecutive attempts within the membership validity period |
| Medium | English and Hindi |
| Paper | Full name | Mock tests here | Practise |
|---|---|---|---|
| IE-IFS | Indian Economy & Indian Financial System | 46 | JAIIB IE-IFS mock test → |
| PPB | Principles & Practices of Banking | 55 | JAIIB PPB mock test → |
| AFM | Accounting & Financial Management for Bankers | 35 | JAIIB AFM mock test → |
| RBWM | Retail Banking & Wealth Management | 26 | JAIIB RBWM mock test → |
Most candidates fail JAIIB not because the syllabus is hard but because they read passively and never test recall under time pressure. The fastest correction is to reverse the order: attempt the chapter test first, score badly, and then read the chapter. You will remember far more, because you now know exactly what you did not know.
Work through one module at a time using the accordion above. Each chapter test is short enough to finish in a break between shifts. When you get a question wrong, do not simply note the right answer — read the explanation and write one line in your own words about why your choice was wrong. That one line is what survives to exam day.
In the last two weeks, switch to full-length timed papers. Sit for the whole 120 minutes without pausing, keep your phone out of reach, and do not check answers until you submit. The goal at that stage is not knowledge, it is stamina and pacing: roughly one question per minute with twenty minutes left over for the numerical questions in AFM.
A practical target is 65 per cent or better on every chapter test before you attempt a full paper, and a consistent 60 per cent on full papers before exam day. That margin absorbs the difficulty gap between practice questions and the real IIBF paper.
Yes. Every test marked FREE opens with no payment and no signup. You can also practise the sample questions on this page instantly. Premium tests unlock the full 920+ question bank along with detailed explanations for every option.
Each JAIIB paper carries 100 marks and is normally set as 100 objective questions to be answered in 120 minutes. Some papers include case-study and numerical questions that carry more than one mark, so the question count can be slightly under 100. Always confirm the current pattern on the official IIBF website before your exam.
A candidate must score a minimum of 45 out of 100 in each paper, with an aggregate of 50 per cent across all papers taken in a single attempt. If you score 50 or more in an individual paper but fail the aggregate, that paper is normally credited and carried forward. Verify the current rule with IIBF, as pass criteria have been revised in the past.
No. IIBF does not apply negative marking in JAIIB, so you should attempt every question rather than leaving blanks. Our mock tests follow the same rule so your practice score reflects your real score.
Work chapter by chapter first, then move to full-length papers. A realistic target is one chapter test a day for six weeks, then one full-length timed paper every second day in the final fortnight. Reviewing every wrong answer matters more than the number of tests.
No account is needed to take a free test. Creating a free account only adds score history, best-score tracking per test and a coverage bar so you can see which chapters you have not touched yet.
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