How to prepare for financial reasoning tests

If you are planning to apply for a position in a consulting firm, bank or any financial institution, you need to take an aptitude test for finance. This pre-employment test is designed to access the verbal and numerical reasoning skills of a candidate as they enter the world of finance. To appear in this test, you must have a background in finance and familiar with the basic terminologies and also know how to analyze a text to pull the relevant information.

How to prepare for financial reasoning tests

What is a Finance Aptitude Test?

Finance Aptitude Test, FAT is an online screening test for those who are applying for a job in a financial or consulting firm. These tests represent basic financial concepts through tables, graphs and texts. You can find a short description of scenarios accompanies by extracts of numerical data.

Many large firms receive thousands on applications every day and it is impossible to look at all of them thoroughly. Therefore, by taking the aptitude assessment test, HR managers can easily find out which candidates are suitable for the positions.

Step 1: Practice

Before appearing in the financial reasoning test, it is important to practice various tests available online. These tests are free and are designed according to the style and patterns of the test. Also, these help you to understand the writing styles, flow and understand how questions are crafted and answered.

Step 2: Don’t think outside the box

The main idea to prepare for financial reasoning test is to know what would come in the exams. You need to prepare topics based on the job position you are applying for.

So make sure the topics revolve around verbal reasoning passages related to relevant topics. The information you need to answer included within the passage. Interviewers usually use the information provided in the passage rather using other details of the topic. This will help them to choose the right answers to questions. So when preparing for financial assessment reasoning, stick to three basic principles -

  • Read the passage carefully
  • Anything written in the passage is not true unless mentioned in particular
  • If you are unable to find the answer in the passage, then there is no answer there.

Step 3: Take care of the timings

Financial reasoning tests are time oriented and this can add negative pressure to your ability to decipher the answer logically. Therefore, it is important to read questions carefully without wasting your time. Make sure you spent the minimum amount of time on each question so that before submission you get enough time to review your answers. If you prepare this in routine, you can estimate the exact time you are spending on each question.

Step 4: Every Word Counts

You might receive some information in the passage that can be irrelevant, but you should still read the passage without ignoring sentences and skipping lines. Each detail makes the full passage and helps you provide relevant information where required. Make sure to read and re-read the passage to make sure that most potential answers have been offered.

Step 5: Tricky Questions

In the test, you may also find some tricky questions. These are worded in such a way to create confusion in the mind of the participant. Take time to understand the question and re-read the passage carefully. Make sure to train your mind to find and comprehend the tricky questions by practicing tests regularly.

Step 6: Be Calm

Last but not least, it is important to remain calm during the entire time. This will help you to relax your mind and boost logical thinking. To relax your mind, you can keep nerves settled and take deep breaths. Also, when you are reading the passage for the first time, read it like an enjoyable story. This will provide you with a better understanding of the passage and keep you relaxed.