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The Financial Forecasting Test has been specifically designed to enable employers and recruiters to identify potential hires by evaluating working skills and job readiness. For this reason, the emphasis is laid upon evaluating the knowledge of applied skills gained through real work experience, rather than theoretical knowledge.
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Topics covered in the test
- General Financial Forecasting
- Assumptions
- Valuation
- Capitalization
- Revenue
- Summary Financials
- Profit & Loss Forecast
- Cash Flow Forecast
- Balance Sheet Forecast
- Variance & Sensitivity
Overview
This test consists of a random set of 100 multiple choice questions of varying difficulty covering the entire range of topics for the subject. Each question has between 2 and 8 options out of which one or more may be correct. The test is to be completed in 50 minutes.Â
The test is scored on a 10 point scale. The passing grade for this test is 65 out of 100. After a candidate completes the test, you will receive a comprehensive assessment report that will give you a clear picture of the candidate’s knowledge and competence. The report consists of the following five sections:
- Overall Score – This score helps you make a hiring decision based on the candidate’s overall performance on the test. The score is calculated on a 10-point scale ranging from 0 to 10.
- Subject Analysis – This section helps you identify gaps in the candidate’s knowledge by analyzing his/her performance on each topic covered in the test. This score is also calculated on a 10-point scale ranging from 0 to 10.
- Subject Coverage – This section gives an overall view of the breadth of knowledge of the candidate to help you judge if the candidate has sufficient all-round knowledge to deliver on the job.
- Percentile Analysis – This section gives you an indication of how the candidate’s performance matches up with that of the other people who have taken the same test before.
- Accuracy vs Speed analysis – This section helps you know whether the candidate is suited for time critical assignments. The score obtained here reflects the candidate’s speed in relation to reading, comprehending and processing the information, and answering the questions correctly in the test
Validity refers to the degree to which evidence and theory support the interpretations of test scores entailed by proposed uses of tests. In simple terms, if the test properly measures the skills or traits that it is intended to, it is considered to be valid. IOPS Academia conducts in-house as well as third party validity studies to confirm the validity of tests. IOPS Academia tests checked for Content Validity, Criterion-related Validity and Construct Validity.
The ability of a test to give consistent results is known as its reliability. Ensuring high test reliability is an integral component of the test development process and leads to test scores which are consistent and accurate. The reliability of IOPS Academia tests is confirmed through a variety of measures including the Test-Retest Reliability Method, which refers to how well results from one testing session relate to results from another session by the same person at a different point in time.
1 Year
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