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JAIIB IE&IFS Unit 18 — System of National Accounts and GDP Concepts: Free MCQs with Explanations

By Swarnakshi Jha (ex-banker) · Updated 20 September 2026 · Paper 1 of the November 2026 cycle (1 November 2026)

This page is a free slice of our JAIIB IE&IFS question bank for Unit 18 — System of National Accounts and GDP Concepts (Module B — Economic Concepts Related to Banking). The Mock Centre holds 73 questions on this unit alone, every one with a why-right / why-wrong explanation; below are the facts examiners keep returning to, five of those questions to try, and the traps that cost marks.

IE&IFS · Module B73 MCQs in the Mock Centre5 free belowPaper on 1 November 2026

Key facts examiners test from this unit

  1. SNA: UN-developed; current = 2008 SNA (ISWGNA: UN/IMF/WB/OECD/EUROSTAT — no WTO); India's new series 30-1-2015, base 2011-12 (NSS 68th round; 2009-10 rejected as crisis-abnormal).
  2. Post-2008 SNA: headline = GDP at constant MARKET prices; sectoral GVA at BASIC prices.
  3. Three methods: expenditure (C+I+G+X−M; G excludes transfers; I excludes financial products), income (compensation + property income + production taxes & depreciation), product/value-added (no double counting).

5 free practice questions — tap an option

Five basic questions from this unit. Answers lock on the first tap, exactly as in the exam, and a short explanation opens underneath. The Mock Centre adds the moderate and tough questions, why every other option is wrong, the concept capsule and the exam tip — with your score and revision dates tracked.

Question 1 of 5
The System of National Accounts (SNA) was developed by the:
Why (b): The System of National Accounts (SNA) was developed by THE UNITED NATIONS — the global standard for measuring economies.
Question 2 of 5
The expenditure-method formula is:
Why (b): The expenditure formula: GDP = C + I + G + (X − M) — consumption plus investment plus government plus NET EXPORTS.
Question 3 of 5
Personal consumption expenditures divide into:
Why (c): Personal consumption expenditures divide into DURABLES, NON-DURABLES AND SERVICES — cars, bread and haircuts.
Question 4 of 5
GVA at basic prices becomes GDP at market prices by:
Why (a): The bridge is NET PRODUCT taxes (GST, excise, import duties minus food/fuel/fertiliser-type product subsidies).
Question 5 of 5
GDP as a WELFARE measure is limited because it:
Why (b): Output ≠ wellbeing: GDP is silent on who gains, uncounted care work, and ecological costs — why welfare analysis adds HDI/Green-GDP style measures.
0 of 5 answered.

Traps in this unit

Confusable AConfusable BThe difference
GDPGNPTerritory vs nationality (+NFIA)
GDPNDPGross vs net (−depreciation)
Practise all 73 questions on Unit 18. The free demo opens a slice of every subject with the same explanations; the IE&IFS Online-only pass unlocks all 3,032 IE&IFS questions, the full and module mocks, Smart Revision and the Readiness Score for one year (₹1,299). Not sure where you stand? Take the free 10-question test first.
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Independent study aid — not affiliated with, endorsed by, or sponsored by the Indian Institute of Banking & Finance (IIBF). Exam pattern, dates, fees and passing criteria are set by IIBF — always confirm the current rules at iibf.org.in. Regulatory figures verified as of September 2026; verify from official sources before relying on them in practice.