Business Math Test

Q: What are the main Business-related tests?

Other key business-related tests include: Business Analyst Test Financial Analyst Test Accounting Assessment Test

The Business Math Test evaluates a candidate's ability to apply mathematical concepts in a business context. Using scenario-based MCQ questions, it assesses knowledge of arithmetic percentages algebra statistics probability interest calculations discounts financial ratios and cost analysis. This test ensures candidates can perform essential business operations and financial assessments.

Covered skills:

Basic Arithmetic
Percentages
Algebra
Statistics
Probability
Interest Calculations
Discounts and Markups
Financial Ratios
Business Operations
Cost Analysis
Budgeting
Break-even Analysis

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About the Business Math Assessment Test

The Business Math Test helps recruiters and hiring managers identify qualified candidates from a pool of resumes, and helps in taking objective hiring decisions. It reduces the administrative overhead of interviewing too many candidates and saves time by filtering out unqualified candidates at the first step of the hiring process.

The test screens for the following skills that hiring managers look for in candidates:

Demonstrate proficiency in performing basic arithmetic operations essential for business calculations
Apply percentage calculations accurately in various business contexts, such as sales and discounts
Utilize algebraic concepts to solve complex business problems and equations
Interpret and analyze statistical data to make informed business decisions
Calculate probabilities and assess risks in business scenarios
Compute interest rates and determine present and future values for financial planning
Apply discount and markup calculations to pricing strategies and inventory management
Analyze and interpret financial ratios to assess company performance and health
Optimize business operations through mathematical modeling and quantitative analysis
Conduct comprehensive cost analysis to improve profit margins and efficiency
Develop and manage budgets effectively using mathematical principles
Perform break-even analysis to determine profitability thresholds and make strategic decisions

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Non-googleable questions

We have a very high focus on the quality of questions that test for on-the-job skills. Every question is non-googleable and we have a very high bar for the level of subject matter experts we onboard to create these questions. We have crawlers to check if any of the questions are leaked online. If/ when a question gets leaked, we get an alert. We change the question for you & let you know.

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Why you should use Pre-employment Business Math Test?

The Business Math Test makes use of scenario-based questions to test for on-the-job skills as opposed to theoretical knowledge, ensuring that candidates who do well on this screening test have the relavant skills. The questions are designed to covered following on-the-job aspects:

Performing basic arithmetic operations.
Calculating percentages accurately.
Solving linear equations in algebra.
Analyzing statistical data.
Determining probability in various scenarios.
Calculating simple and compound interest.
Applying discount and markup formulas.
Computing financial ratios.
Understanding basic business operations.
Conducting cost analysis efficiently.

Once the test is sent to a candidate, the candidate receives a link in email to take the test. For each candidate, you will receive a detailed report with skills breakdown and benchmarks to shortlist the top candidates from your pool.

What topics are covered in the Business Math Test?

Basic Arithmetic: Basic Arithmetic involves the fundamental operations of addition, subtraction, multiplication, and division. These operations are foundational for nearly all other mathematical concepts. Proficiency in basic arithmetic is essential for accurate calculations in more complex business math scenarios.

Percentages: Percentages are used to express proportions and make comparisons in a standardized form. Knowing how to work with percentages is crucial for analyzing business performance metrics, financial statements, and growth rates.

Algebra: Algebra involves the manipulation of mathematical symbols to solve equations and understand relationships between variables. Mastering algebra is important for formulating and solving business problems where change and relationships between quantities need to be analyzed.

Statistics: Statistics is the study of data collection, analysis, interpretation, and presentation. It enables businesses to make data-driven decisions by understanding trends, patterns, and variability in data sets.

Probability: Probability assesses the likelihood of different outcomes and is vital for risk management and decision-making under uncertainty. Business applications include forecasting, market analysis, and quality control.

Interest Calculations: Interest calculations pertain to understanding and computing interest, both simple and compound. This skill is particularly important for managing loans, investments, and understanding the cost of borrowing.

Discounts and Markups: Discounts and markups involve adjusting prices to achieve desired profit margins or sales targets. Mastery of this skill allows businesses to plan effective pricing strategies and maximize profitability.

Financial Ratios: Financial ratios are indicators used to assess a company's financial health by analyzing various aspects of its performance. These ratios provide crucial insights into liquidity, profitability, and operational efficiency.

Business Operations: Business operations encompass the activities involved in running a business on a day-to-day basis. Proficiency in this area ensures that processes are efficient, costs are controlled, and objectives are met.

Cost Analysis: Cost analysis involves evaluating the expenses associated with different aspects of a business to improve efficiency and profitability. Understanding costs helps in budgeting, pricing, and strategic planning.

Budgeting: Budgeting is the process of creating a financial plan for allocating resources over a specific period. Effective budgeting ensures resources are used efficiently and financial goals are met.

Break-even Analysis: Break-even analysis determines the point at which revenue received equals the costs associated with making the product. This analysis is key for understanding the viability and profitability of business ventures.

Full list of covered topics

The actual topics of the questions in the final test will depend on your job description and requirements. However, here's a list of topics you can expect the questions for Business Math Test to be based on.

Addition

Subtraction

Multiplication

Division

Fractions

Decimals

Percentage Calculation

Percentage Change

Markup Percentage

Discount Percentage

Linear Equations

Quadratic Equations

Inequalities

Mean

Median

Mode

Standard Deviation

Variance

Correlation

Probability Theory

Conditional Probability

Bayes' Theorem

Simple Interest

Compound Interest

Present Value

Future Value

Annuities

Discount Calculation

Markup Calculation

Price Elasticity

Profitability Ratios

Liquidity Ratios

Efficiency Ratios

Leverage Ratios

Inventory Turnover

Capacity Utilization

Productivity Metrics

Fixed Costs

Variable Costs

Opportunity Costs

Cost-Benefit Analysis

Operating Budget

Capital Budget

Cash Flow Budget

Variance Analysis

Break-even Point

Contribution Margin

Margin of Safety

Operating Leverage

What roles can I use the Business Math Test for?

Financial Analyst
Accountant
Business Analyst
Investment Banker
Auditor
Actuary
Financial Planner
Treasury Analyst
Credit Analyst
Budget Analyst

How is the Business Math Test customized for senior candidates?

For intermediate/ experienced candidates, we customize the assessment questions to include advanced topics and increase the difficulty level of the questions. This might include adding questions on topics like

Preparing and managing budgets.
Performing break-even analysis.
Applying complex algebraic formulas.
Interpreting advanced statistical data.
Using probability theory for business decisions.
Analyzing interest calculations for investments.
Evaluating discounts and markups in pricing.
Interpreting financial ratios for business health.
Analyzing detailed business operations.
Conducting comprehensive cost analysis.

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Have questions about the Business Math Hiring Test?

What is Business Math test?

The Business Math test evaluates candidates' skills in key mathematical areas relevant to business scenarios. It is used by recruiters to assess abilities in basic arithmetic, percentages, algebra, and more, ensuring that candidates can handle essential business calculations.

Can I combine Business Math test with an Analytical Skills test?

Yes, recruiters can request a custom test that includes both Business Math and Analytical Skills. For more details on assessing analytical skills, check our Analytical Skills Test.

What skills are assessed in the Business Math test for senior roles?

The Business Math test for senior roles assesses:

Creating detailed budgets
Performing break-even analysis
Applying compound interest calculations
Interpreting complex statistical analyses
Solving advanced algebraic problems
Evaluating financial statements
Performing comprehensive cost-benefit analysis
Developing financial forecasting models
Analyzing investment opportunities
Creating advanced budgeting strategies

How to use Business Math test in my hiring process?

Use the Business Math test as a pre-screening tool at the start of your recruitment process. Add the test link to your job post or email invitations to candidates. This helps identify top talent early.

Can I test Business Math and Probability together in a test?

Yes, you can test Business Math and Probability together. It's recommended for a comprehensive evaluation. Check out our Probability Test for more details.

What are the main Business-related tests?

Other key business-related tests include:

Can I combine multiple skills into one custom assessment?

Yes, absolutely. Custom assessments are set up based on your job description, and will include questions on all must-have skills you specify. Here's a quick guide on how you can request a custom test.

Do you have any anti-cheating or proctoring features in place?

We have the following anti-cheating features in place:

Non-googleable questions
IP proctoring
Screen proctoring
Web proctoring
Webcam proctoring
Plagiarism detection
Secure browser
Copy paste protection

Read more about the proctoring features.

How do I interpret test scores?

The primary thing to keep in mind is that an assessment is an elimination tool, not a selection tool. A skills assessment is optimized to help you eliminate candidates who are not technically qualified for the role, it is not optimized to help you find the best candidate for the role. So the ideal way to use an assessment is to decide a threshold score (typically 55%, we help you benchmark) and invite all candidates who score above the threshold for the next rounds of interview.

What experience level can I use this test for?

Each Adaface assessment is customized to your job description/ ideal candidate persona (our subject matter experts will pick the right questions for your assessment from our library of 10000+ questions). This assessment can be customized for any experience level.

Does every candidate get the same questions?

Yes, it makes it much easier for you to compare candidates. Options for MCQ questions and the order of questions are randomized. We have anti-cheating/ proctoring features in place. In our enterprise plan, we also have the option to create multiple versions of the same assessment with questions of similar difficulty levels.

I'm a candidate. Can I try a practice test?

No. Unfortunately, we do not support practice tests at the moment. However, you can use our sample questions for practice.

What is the cost of using this test?

You can check out our pricing plans.

Can I get a free trial?

Yes, you can sign up for free and preview this test.

I just moved to a paid plan. How can I request a custom assessment?

Here is a quick guide on how to request a custom assessment on Adaface.

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Along with scorecards that report the performance of the candidate in detail, you also receive a comparative analysis against the company average and industry standards.

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