If you are applying for a finance internship, graduate programme or entry-level role, you may be asked to complete numerical, logical or financial assessment tests before you reach the interview stage.
The best way to prepare is to understand the test format, practise under time pressure and strengthen the numerical skills that finance employers are likely to assess.
You do not need to be a mathematics expert. Most assessments are designed to test how accurately you work with numbers, how quickly you interpret information and how well you solve problems.
What types of finance assessment tests can you expect?
Finance employers commonly use numerical reasoning, logical reasoning, situational judgement and basic financial knowledge assessments.
Depending on the role, you may encounter:
- Numerical reasoning
- Percentage and ratio calculations
- Data interpretation
- Financial statement questions
- Logical reasoning
- Situational judgement
- Excel assessments
- Accounting questions
- Basic commercial awareness tests
A banking or investment role may place more emphasis on numerical reasoning and data interpretation, while an accounting or audit position may include more questions on financial concepts and accuracy.
How should you prepare for numerical reasoning?
Practise working with percentages, ratios, averages, growth rates and basic financial calculations.
You should be able to look at a table or short set of figures and answer questions such as:
- What percentage did revenue increase by?
- Which department had the largest cost increase?
- What is the difference between two figures?
- What proportion of total sales came from one division?
- Which period showed the strongest growth?
The calculations are often straightforward. The challenge is completing them accurately within a limited amount of time.
Practising timed questions can help you improve both speed and confidence.
Do you need a calculator?
Many numerical reasoning tests allow a basic calculator, but you should check the instructions before the assessment begins.
Even when calculators are allowed, you still need to understand what calculation to perform.
For example, if revenue increased from R800,000 to R920,000, you should know that the percentage increase is calculated using the difference between the two figures divided by the original amount.
The calculator helps with arithmetic. It does not replace the reasoning behind the calculation.
How can you improve your percentage skills?
Percentages appear frequently in finance because they are used to compare growth, costs, profit margins, interest rates and other financial information.
Make sure you can calculate:
- Percentage increases
- Percentage decreases
- Percentage differences
- Percentage of a total
- Profit margins
- Simple growth rates
You should also be comfortable converting between percentages, decimals and fractions.
These skills are useful beyond assessment tests because they appear regularly in banking, accounting, investment and financial analysis work.
What does data interpretation involve?
Data interpretation tests your ability to understand tables, figures and other business information.
You may be shown several years of revenue, costs or customer data and asked to identify trends or calculate differences.
Start by reading the question carefully before looking at all the numbers. Ask yourself exactly what information you need.
This can stop you from wasting time analysing parts of the table that are not relevant to the question.
Should you revise financial statements?
Revise the basics if you are applying for accounting, audit, banking, investment or financial analysis roles.
You should understand:
- Income statements
- Balance sheets
- Cash-flow statements
- Revenue
- Expenses
- Profit
- Assets
- Liabilities
- Equity
- Cash flow
An assessment may ask you to identify which statement contains a particular item or interpret a simple change in financial performance.
You do not need to memorise an entire accounting textbook. Focus on the concepts most closely connected to the role.
What can an Excel assessment include?
An Excel test may ask you to organise information, perform calculations or analyse data.
You could be asked to use:
- Basic formulas
- SUM and AVERAGE
- IF functions
- Lookup functions
- Sorting and filtering
- Pivot tables
- Formatting
- Basic data analysis
If Excel is listed as an important skill in the job description, assume the employer may test it.
Practise completing tasks without relying heavily on online searches. During an assessment, you may not be allowed to use external resources.
What is a situational judgement test?
A situational judgement test asks how you would respond to realistic workplace situations.
You might be given a scenario involving a deadline, an error, a disagreement with a colleague or confidential financial information.
You then choose the response you think is most appropriate.
Strong answers usually demonstrate professional judgement, integrity, communication and responsibility.
If you discover an error in financial information, for example, ignoring it or hiding it would be a poor response. A better approach is usually to verify the issue and raise it with the appropriate person.
How should you approach logical reasoning tests?
Logical reasoning tests look at how you identify patterns, relationships or conclusions.
These tests may feel less connected to finance, but employers use them to assess problem-solving ability.
Do not spend too long on one difficult question.
If the test allows you to move between questions, complete the ones you can solve confidently and return to harder ones later.
Your goal is to maximise the number of accurate answers within the available time.
How much time should you spend practising?
A few focused practice sessions can make a noticeable difference, especially if you have never completed an assessment before.
Start by practising without a timer so you understand the question types.
Then introduce time limits. This helps you learn how quickly you need to work while still protecting your accuracy.
If you consistently make the same type of mistake, stop and revise that area instead of simply completing more questions.
What should you do if you get stuck?
Move on when a question is consuming too much time. One difficult problem should not prevent you from answering several easier ones.
If you can return later, mark the question and continue.
When you do return, reread the wording carefully. Sometimes the difficulty comes from misunderstanding what the question is asking rather than from the calculation itself.
How should you prepare on the day?
- Choose a quiet place with a reliable internet connection and make sure your device is charged.
- Have any permitted calculator, paper or other materials ready before you begin.
- Read the instructions carefully because different assessment providers use different rules.
- Do not rush through practice questions. They often show you exactly how the real assessment works.
- If there is a time limit, keep an eye on your pace without checking the clock after every question.
What if you are nervous about maths?
Focus on improving the specific numerical skills used in finance rather than trying to become good at every area of mathematics.
Percentages, ratios, averages, basic algebra and interpreting business data are usually more useful than advanced mathematics for general finance assessments.
Practise enough that common calculations feel familiar.
Confidence usually improves when you know what type of question is coming and have solved similar problems before.
How can you give yourself the best chance?
Prepare for the assessment as seriously as you would prepare for an interview.
Find out which tests the employer uses if that information is available, practise the relevant question types and revise the finance concepts connected to the role.
Work on accuracy first, then speed.
If you can interpret financial information clearly, handle basic calculations confidently and stay calm under time pressure, you will be better prepared for assessment stages across banking, accounting, investment, audit and other financial services roles.
