A strong preparation is required for attempting financial assessment tests. There are hundreds of skill tests needed to be attempted for the job role. There are various tests such as Aptitude test, Business skills, coding skills, Databases, Design tools, ERP, finance, Languages, Digital Marketing, Mobile, Office tools, Sales etc.
Assessment and Question Quality:
There are numerous sites and online examinations conducted by various companies. You need to go for a reliable company that provides a platform to appear online exam. Skill tests are based on science of assessment and quality of questions. Those companies are responsible to have a regular research of job roles available in various companies and timely updated info on it.
Financial analysts need to have strong accounting and compliance backgrounds to explore historical financial data, predict future results and drive process and policy improvements. This is a very sensitive position in an organization. So companies perform many interviews and financial analysts test questions before hiring a candidate.
Principal Accountancies Covered in the Financial Analyst Test:
- Investigate operational and financial results.
- Make recommendations for company’s improvement.
- Conducting cost-benefit analysis.
- Reviewing capital budget.
- Forecasting future business conditions.
- Recommend various investments based on risk and return analysis.
- Regarding developments in the company.
- Prepare and develop a competitive analysis.
- Creating financial models.
- Creating presentations summarizing the results and communicating the clear idea to the Senior Management.
- Analysing current and past financial data and performance.
- Preparing reports based on various analysis.
- Evaluating current capital investments and expenditures.
- Exploring various investment opportunities.
- Establishing and evaluating profit plans.
- Identifying trends in financial performance.
Key Skills Required:
- Knowledge on financial management, Management accounting, Accounting fundamentals, Financial Analysis.
- Logical Reasoning
- Abstract reasoning and Quantitative Aptitude
- Verbal ability and verbal reasoning
- Financial Analysis
- Excel modelling, Statistics and Probability
Financial Assessment Contains Two Components:
1) Critical Thinking: Critical thinking provides information about the candidate’s ability to evaluate the situations accurately and make logical decisions when faced with complex information. It even measures the candidate’s ability to make reasonable inferences, recognize assumptions, evaluate arguments and draw logical conclusions. Critical thinking is very important in businesses where careful analysis and sound judgment is required to perform various job functions.
Critical thinking includes reading of passages or scenarios that include problems, statements and arguments.
2) Work Styles: Work style section provides information about the match between candidate’s work style behaviour and those required for success in financial analyst post. They are selected from WPI. The WPI is based on personality based work behaviours. These work style behaviours are required for success across a wide variety of jobs and industries.
The software by which you can conduct the test helps in saving time and money both.Candidate need not be physically available at the place to appear for the test.It can be conducted anywhere anytime without affecting regular work flow .More number of candidates can appear for the test simultaneously.No need to travel or be physically present at the place, the candidate can login and appear for the test from their place only.