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This paper presents the notions of exact observability and exact detectability for Markov jump linear stochastic systems of Ito type with multiplicative noise (for short, MJLSS). Stochastic Popov-Belevith-Hautus (PBH) Criterions for exact observability and exact detectability are respectively obtained. As an application, stochastic H_2/H_∞ control for such MJLSS is discussed under exact detectability.