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Financial & Excel Modeling Test

About the test:

The financial modeling test assesses a candidate's understanding of fundamental financial modeling concepts like historical ratios, income statement, working capital, depreciation schedule, amortization schedule, shareholder equity schedule, stock options, cash flow statements, time value of money, capital asset pricing model and asset valuation and their ability to create and maintain financial models using Excel.

Covered skills:

  • cash flow statement
  • historical ratios
  • depreciation schedule
  • Time Value of money
See all covered skills

9 reasons why
9 reasons why

Adaface Financial & Excel Modeling Test is the most accurate way to shortlist Financial and Modeling Analysts



Reason #1

Tests for on-the-job skills

The Financial and Excel Modeling Online test helps recruiters and hiring managers to 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 expensive engineering time by filtering out unqualified candidates.

The Adaface Financial and Excel Modeling test screens candidates for the typical skills recruiters look for in a Financial Analyst:

  • Expertise in performing asset and stock valuation
  • Solid understanding of accounting fundamentals
  • Expertise in advanced MS Excel skills
  • In-depth understanding of financial models for variance analysis and business forecasting
  • Ability to use multiple sources for data compilation
  • Basic understanding of creating performance reports

The insights generated from this assessment can be used by recruiters and hiring managers to identify the best candidates for the role. Anti-cheating features enable you to be comfortable with conducting assessments online. The Financial and Excel Modeling test is ideal for helping recruiters identify which candidates have the technical skills to do well on the job.

Reason #2

No trick questions

Traditional assessment tools use trick questions and puzzles for the screening, which creates a lot of frustration among candidates about having to go through irrelevant screening assessments.

The main reason we started Adaface is that traditional pre-employment assessment platforms are not a fair way for companies to evaluate candidates. At Adaface, our mission is to help companies find great candidates by assessing on-the-job skills required for a role.

Why we started Adaface ->
Reason #3

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.

These are just a small sample from our library of 10,000+ questions. The actual questions on this Financial & Excel Modeling Test will be non-googleable.

🧐 Question

Medium

All stock acquisition
Solve
                        Deemak Inc. is acquiring Chopper in an all stock deal. Deemak Inc. has 1000 shares, an EPS of $3.25 and P/E ratio of 11. Chopper has 300 shares, an EPS of $3.75 and P/E ratio of 13. How would you describe this deal for Deemak?
                        

Options:

  • Accretive
  • Dilutive
  • Neutral
  • Need more information

Medium

Depreciation on new Capex
Solve
                        Our financial intern deleted the entries for the Depreciation from new CapEx by mistake. Can you help them calculate the total depreciation on new CapEx in Year 3?
                        
 image

Options:

  • $10.4 million
  • $9.5 million
  • $13.3 million
  • $8.1 million
  • $15.3 million
  • $11.2 million

Medium

MATCH INDEX LOOKUP
Solve
                        Some friends live in adjacent apartments in a building in Central Perk, New York. We want to write a function to search the apartment number by name. Which of the following functions should we use?
                        
 image

Options:

  • =MATCH(B2:B9,INDEX(D3,A2:A9,0))
  • =INDEX(MATCH(D3,A2:A9,0))
  • =INDEX(B2:B9,MATCH(A2:A9,0))
  • =INDEX(B2:B9,MATCH(D3,A2:A9,0))

Medium

Organization data
Data transformation
Solve
                        We have two Excel files with organization data. One file has Organization ID and Organization Name fields, whereas the second file has Organization ID, Organization Name and Country fields. We wrote a query to retrieve the data from both files. Here’s a sample of the data retrieved:
                        
 image
                        We want to ensure Organization ID field is unique. Which of the following is the ideal solution that ensures Organization ID field is unique while retaining Country data?

A: Select the Organization ID and Country columns, and then click Keep Duplicates.
B: Select the Organization ID and Country columns, and then click Remove Duplicates.
C: Use Group BY function to group the rows by Organization ID. Specify output columns for Organization Name and Country using MAX operation.
D: Select Organization ID column and then click Remove Duplicates. Then specify output columns for Country using MAX operation.

Options:

  • A
  • B
  • C
  • D

Medium

Student scores
Data formatting
Solve
                        Here’s a sample Excel data source:
                        
 image
                        Here’s the expected data format: 
                        
 image
                        Which of the following is the correct way to transform the data from the query editor to achieve the result?

A: Columns to Select: Student Only
B: Columns to Select: Student and Student ID
C: Columns to Select: Primary and Secondary
D: Command to Use: Pivot Column
E: Command to Use: Reverse Rows
F: Command to Use: Unpivot Columns

Options:

  • AD
  • AE
  • AF
  • BD
  • BE
  • BF
  • CD
  • CE
  • CF

Medium

VLOOKUP blood donor
Solve
                        We are looking to find the contact number of the only blood donor with blood group O-. Which function should we use to look up the correct contact number? Here's the documentation for VLOOKUP: =VLOOKUP(lookup value, range containing the lookup value, the column number in the range containing the return value, Approximate match (TRUE) or Exact match (FALSE)).
                        
 image
                        A: =VLOOKUP("O-", A1:E10, 3, TRUE)
B: =VLOOKUP("O-", A1:E10, 3, FALSE)
C: =VLOOKUP("O-", D1:D10, 4)
D: =VLOOKUP("O-", D1:D10, 3)
E: =VLOOKUP("O-", A1:E10, 4, TRUE)
F: =VLOOKUP("O-", A1:E10, 4, FALSE)
G: =VLOOKUP("Kane", A1:E10, 4)

Options:

  • A
  • B
  • C
  • D
  • E
  • F
  • G
🧐 Question🔧 Skill

Medium

All stock acquisition
2 mins
Financial Modeling
Solve

Medium

Depreciation on new Capex
3 mins
Financial Modeling
Solve

Medium

MATCH INDEX LOOKUP
2 mins
Excel
Solve

Medium

Organization data
Data transformation
3 mins
Excel
Solve

Medium

Student scores
Data formatting
2 mins
Excel
Solve

Medium

VLOOKUP blood donor
2 mins
Excel
Solve
🧐 Question🔧 Skill💪 Difficulty⌛ Time
All stock acquisition
Financial Modeling
Medium2 mins
Solve
Depreciation on new Capex
Financial Modeling
Medium3 mins
Solve
MATCH INDEX LOOKUP
Excel
Medium2 mins
Solve
Organization data
Data transformation
Excel
Medium3 mins
Solve
Student scores
Data formatting
Excel
Medium2 mins
Solve
VLOOKUP blood donor
Excel
Medium2 mins
Solve
Reason #4

1200+ customers in 75 countries

Brandon

With Adaface, we were able to optimise our initial screening process by upwards of 75%, freeing up precious time for both hiring managers and our talent acquisition team alike!


Brandon Lee, Head of People, Love, Bonito

Reason #5

1 click candidate invites

Email invites: You can send candidates an email invite to the Financial & Excel Modeling Test from your dashboard by entering their email address.

Public link: You can create a public link for each test that you can share with candidates.

API or integrations: You can invite candidates directly from your ATS by using our pre-built integrations with popular ATS systems or building a custom integration with your in-house ATS.

Reason #6

Detailed scorecards & comparative results

Reason #7

Designed for elimination, not selection

The most important thing while implementing the pre-employment Financial & Excel Modeling Test in your hiring process is that it is an elimination tool, not a selection tool. In other words: you want to use the test to eliminate the candidates who do poorly on the test, not to select the candidates who come out at the top. While they are super valuable, pre-employment tests do not paint the entire picture of a candidate’s abilities, knowledge, and motivations. Multiple easy questions are more predictive of a candidate's ability than fewer hard questions. Harder questions are often "trick" based questions, which do not provide any meaningful signal about the candidate's skillset.

Reason #8

High completion rate

Adaface tests are conversational, low-stress, and take just 25-40 mins to complete.

This is why Adaface has the highest test-completion rate (86%), which is more than 2x better than traditional assessments.

Reason #9

Advanced Proctoring


What is Financial Modeling

Financial modeling is one of the most important skills in financial analysis. It combines the fields of finance, accounting, and business metrics to forecast an organization’s future financial performance. Financial modeling is heavily dependent on the use of Microsoft Excel for its forecasting purposes.

Business analysts, financial consultants, and finance professionals should have the ability to develop powerful financial models to project the financial performance of the company and conduct various other financial analyses that give powerful insights.

The various purposes for which financial models can be used include:

  • Debt Affordability
  • Evaluation of a business
  • Cashflow and capital budgeting
  • Data-driven decision making
  • Future planning

What roles can I use the Financial & Excel Modeling Test for?

  • Financial and Modeling Analyst
  • Financial Modelling Consultant
  • Finance Research Manager
  • Financial Modeling Specialist

What topics are covered in the Financial & Excel Modeling Test?

Income Statements
Discounted Cash Flow
Excel Macros
Revenue Forecasting
Return on Equity
Leveraged Buyout Model
Excel Macros
Cost Forecasting
Return on Assets
Comparable Company Analysis Model
Sensitivity Analysis
Debt Forecasting
Turnover Ratios
Time Value of money - net present value
internal rate of return
Financial Analysis
Asset Valuation
Stock Valuation
Risk And Return - from various asset classes
Calculation of rate of return
Capital Asset Pricing Model
Balance Sheets
Cash Flows
Sensitivity Analysis
Historical Financial Statements
Financial Model Layout
Shareholder’s equity schedule
Working capital schedule
Depreciation schedule
Receivables turnover
Inventory turnover
Accounts Payables
NPV and XNPV

The debt to equity ratio is a representation of the company's capital structure that determines the proportion of external liabilities to the shareholders' equity.

Debt to Equity Ratio
DCF Valuation
Margins – Gross, Operating, and Net
Debt Financing
Equity Financing
Efficiency Ratios
Leverage Ratios
Liquidity ratios
Mergers and Acquisitions Model
LOOKUP
VLOOKUP
Singapore government logo

The hiring managers felt that through the technical questions that they asked during the panel interviews, they were able to tell which candidates had better scores, and differentiated with those who did not score as well. They are highly satisfied with the quality of candidates shortlisted with the Adaface screening.


85%
reduction in screening time

FAQs

What type of questions will the financial modeling test contain?

The financial modelling test contains scenario-based questions that test candidates on the following:

  • Expertise in building and managing financial models for variance analysis and business forecasting
  • Experience undertaking asset valuation and stock valuation
  • Deep understanding of historical ratios, income statement, depreciation schedule, amortization schedule and working capital
  • Strong problem-solving skills

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.

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
  • Web proctoring
  • Webcam proctoring
  • Plagiarism detection
  • Secure browser

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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