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The financial reasoning test is for job candidates who have applied for positions with insurance companies or financial institutions. They’re quite similar to numerical reasoning tests but may involve some further knowledge of financial terminology and concepts.
Following are five steps that will help you to pass the test:
Step 1: Prepare Yourself for the Test
Practice as many financial reasoning tests as you can. The chances are you won’t have taken one before, so it’s important to get familiar with them. If you’ve studied business or economics, you’ll have an advantage, but that doesn’t mean it’s impossible to pass for those who haven’t. Practice Aptitude Tests offers a free financial reasoning test for you to practice.
Step 2: Use the Right Tool to Increase Your Efficiency
When you go to take a test, you should bring the right tools with you. This will help increase your work efficiency and reduce your stress. It will also save you time, and you can invest more of that time into solving problems. Be sure to bring your calculator, pen, paper, and a watch.
Step 3: Understand the Concepts
You must have some knowledge of financial concepts because financial reasoning tests include a variety of challenging financial questions. These concepts include things like profit and loss accounts, balance sheets, financial modeling, and statistical analysis. You don’t need to be an expert in these topics, but you should have a basic understanding.
Step 4: Thoroughly Read the Instructions
When you take a financial reasoning test, you should carefully read the instructions. You should know how many questions you need to solve and how much time you have. This will help you determine how long you have per question so you can correctly pace yourself. If your time is running out, don’t panic. Take a minute, keep calm, and then carry on when you’re ready.
Step 5: Get Help from Experts
Why not get help from people who have already passed the test? Chat with them and ask for tips. This will help you better understand the tests and prepare you to perform your best.