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Loan Officer Aptitude Test Assessment

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  • Loan Officer

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"We realized that to acquire quality talent, our recruitment process was in dire need of automation. Too many of our technicalteam were simply wasting hours conducting interviews that did not yield the desired results. For us the foremost criteria were to finda recruitment partner who could tick all the right boxes"

Rehana Nisar, Gartner,
Global Product & Services Recruitment Head
Question

Alfred buys an old car for $4700 and spends $800 on its repairs. If he sells the car for $5800, his gain percent is:

Answer
    • 447%

    • 5511%

    • 10%

    • 12%

Question

The age of father 10 years ago was thrice the age of his son. Ten years, hence, father's age will be twice that of his son. The ratio of their present ages is:

Answer
    • 5 : 2

    • 7 : 3

    • 9 : 2

    • 13 : 4

Question

Three pipes A, B and C can fill a tank in 6 hours. After working at it together for 2 hours, C is closed. A and B can fill the remaining part in 7 hours. The number of hours taken by C alone to fill the tank is:

Answer
    • 10

    • 12

    • 14

    • 16

Test details:

Test Details: 43 Questions 60 minutes
 

  • Verbal Ability -              08 Questions 08 minutes

  • Verbal Reasoning -        08 Questions 14 minutes

  • Quantitave Aptitude -     11 Questions 11 minutes

  • Logical Reasoning -       08 Questions 13 minutes

  • Abstract Reasoning -      08 Questions 14 minutes

Test description:

Loan officers will study the proposals submitted for loans and decide whether to accept them or to reject them. They need to understand accounting and finance in order to study the financial statements.
They must be good communicators since they regularly interact with clients.
They need to fully aware of all the services offered by the bank as well as all the Governmental regulations.

KEY SKILLS REQUIRED:

  • STRONG COMPREHENSION SKILLS - Verbal Reasoning

  • COMMUNICATION - Verbal Ability

  • STRONG NUMERIC ABILITY - Qunatitative Aptitude

  • ANALYTICAL ABILTY - Qunatitative Aptitude

  • FINANCE AND ACCOUNTING KNOWLEDGE

  • CRITICAL THINKING - Logical Reasoning
     

TEST DESCRIPTION

VERBAL ABILITY 
Verbal ability is essential because grammar and vocabulary is a prerequisite for good spoken and written English.

VERBAL REASONING
Reading comprehension indicates ability to comprehend and reason with the concepts in a written page.

QUANTITATIVE APTITUDE 
Quantitative ability will indicate analytical thinking and problem solving ability.

LOGICAL REASONING
Logical Reasoning is assessed through  
•    Statement/Conclusion
•    Cause /Effect and 
•    Statement/Fact questions
These questions will indicate the quality of deductive reasoning and inductive reasoning which contribute to Critical thinking ability.

ABSTRACT REASONING
Abstract reasoning will indicate the ability to think clearly, identify logical patterns, learn new skills and solve complex problems. It is an indicator of fluid intelligence and shows an ability to strategize.
 

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