Step 1: Know what “affective” means.
Affective (mood) disorders are conditions in which the {primary disturbance is mood}—elevated, depressed, or cycling between the two.
Step 2: Match the option to definition.
Manic–depressive psychosis (now called {bipolar disorder}) features episodes of mania/hypomania and depression—textbook affective pathology.
Step 3: Eliminate distractors.
{Paranoia} is a delusional disorder (core disturbance: fixed false beliefs). {Schizophrenia} is a psychotic disorder with thought disorganization, negative symptoms, and hallucinations—{not} primarily a mood disorder.
\[
\boxed{\text{Hence, (B) is the correct affective disorder.}}
\]