Banking tests measure the skills and character traits of applicants for a particular banking position.
Banking skills tests assess applicants on their adeptness in a range of crucial skills required to succeed in any banking job role.
Banking requires a keenness for mathematics, but there are many roles within the industry requiring a robust and diverse set of skills that recruiters should be testing their applicants for. Irrefutable problem-solving and analytical abilities, strong verbal communication, banking industry knowledge, and acute attention to detail are also vital competencies in a banker.
The tests commonly cover topics such as reasoning skills for numerical, financial, verbal, and abstract abilities as well as approaches to collaboration and teamwork, decision making, ethics, and confidentiality.
These tests are usually sent following online application submission. They are mostly under timed conditions, based on multiple-choice questions and give candidates approximately two or three days to complete them.
The timed nature of the test draws out applicants with the ability to perform accurately whilst under pressure - a useful trait for a banking professional.
Banking is a lot more varied than meets the eye. Bankers must be able to build and maintain positive client relationships whilst staying up to date with the latest products, systems and laws that may impact a clients' wealth.
To help clients maximize their income and savings, bankers must be analytical, strategically minded and assertive. Banking recruiters benefit from using aptitude tests to identify the strongest candidates for such a demanding role.
Finding the best candidate out there is the goal but without the proper tools, not an easy one. Identifying brilliant candidates in a pool of resumes is near impossible, most will boast comparable qualifications and work experience, but how do you know if an individual can perform on the job?
A banking skills test is the tool required to find top talent. Giving companies the ability to issue skills tests to a wide pool of candidates, receiving comparative data in return. Test result analysis will give an explicit and unbiased ranking of your most promising applicants. Improving the quality of hires in a streamlined fashion.
The test highlights how skilled a candidate is in essential abilities of a banking professional such as an outstanding numerical aptitude, acute attention to detail, statistical analysis, creative thinking and universally ethical judgement.
Candidates that don't meet the expected standard for the role can be discarded from the talent pool, limiting the likelihood of time-wasting personal interviews.
Job roles banking skills tests would be suitable for include:
Results for the Banking Test along with other assessments the candidate takes will be compiled to produce a candidate report.
The report is automatically generated and available both online and as a downloadable pdf so they can be shared with other team members and employees alike.
The following tests are useful in measuring the quality of your hires for banking positions:
A numerical reasoning test measures potential employees ability to apply numerical understanding in a realistic context. Faced with a series of timed, mathematical questions, candidates must work to solve them quickly and accurately.
Numerical reasoning tests require a good understanding of core mathematics, all useful for a banker to be skilled in. However, the emphasis is placed on showcasing the ability to interpret data and statistics in the form of graphs and tables to find the correct answer.
Abstract reasoning tests measure a candidate's ability to think with fluid intelligence, predicting outcomes and trends with confidence. Candidates with good abstract reasoning skills will be able to find relationships between patterns, shapes or data, then apply that relationship to predict what comes next.
Naturally, this is a sought after skill for banking roles, enabling employees to predict financial markets and effectively maximise their clients' wealth.
Personality tests can be used to understand whether a candidate is a good cultural and team fit – for example how well they will build rapport with clients, how well they'll fit into the team, and if they are aligned with company values.
The personality traits a candidate is tested will relate to qualities you'd expect for a client-facing role such as bank assistant, teller or financial planner. A perfect banking professional would demonstrate skills in the following, which a personality test can identify:
Verbal reasoning tests measure a candidate's ability to digest large volumes of written and oral information, identifying if the information is true, implied truth or completely false.
Candidates scoring highly on this test have outstanding communication skills that will lend themselves to building client relationships, understanding requirements, processing information and following procedures.
Job knowledge tests are industry-specific and measure how accustomed a candidate is to the world of banking. It will look at consumer and commercial trends, current affairs relating to banking and financial regulations. This identifies candidates who are most prepared with the latest knowledge to aid them in succeeding.
Validated
Neuroworx provides evidence-based recommendations for tests to use for over 750 jobs. Our recommendation engine leverages data from the Occupational Information Network (O*NET) developed by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA).
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Origins
A typical recruitment process for an accounting firm might look like this:
The key skills required to be successful in an accounting role include:
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