Numerical reasoning test FAIL

Hi guys, I'm in London and I just failed Lazard's numerical reasoning test. I've never been good at timed tests like SAT or GMAT but the content wasn't that hard - I think I needed more time. Also, I just guessed the last 5 questions. Do these tests penalize for incorrect answers so is it better to leave them blank? Am I doomed if I can't pass these tests? If I drop off my resume at LSE's career fair, would they still ask me to apply online?

Are there any banks that don't require these tests?

Thanks

 

I wouldn't chill out, I'd learn how to do simple maths under time pressure, seriously dude, come on!

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

Quite frankly, in the UK if you can't do numerical reasoning tests you are doomed unless you can somehow network your way around assessment centers, which I SEVERELY doubt. Sit down and practice right now before you submit any more applications because once submitted, you often get only a limited time window to do the test.

 

Practice a little, know your basics and have a strategy. I don't know which division you're applying to but regarding IB, the tests are doable by a 11 yrs old easily. I would say that verbal tests can (sometimes) be harder to ace.

 

[quote=Linfone]Oreos,

www.tradertest.org[/quote]

Looks good. When I have the time to test myself I may. But for now I don't need to prove myself capable of numericals/logicals, in one interview I had the interviewer highlighted my high scores, I'm a beast the Don if you will. No but seriously the online app test should never be an issue.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

Ahahah

Last year a recruiter told me: " you did well on numerical test, pretty high score!" me, proud: "yes I almost think it's fun sometimes" him: "well, ok, you had a nice score but you should know though that the one you took are way easier than those for S&T"

I should take one someday to see if it's true that S&T are much more demanding regarding numericals.

 
Bluestone:
Ahahah

Last year a recruiter told me: " you did well on numerical test, pretty high score!" me, proud: "yes I almost think it's fun sometimes" him: "well, ok, you had a nice score but you should know though that the one you took are way easier than those for S&T"

I should take one someday to see if it's true that S&T are much more demanding regarding numericals.

They are not.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

There is no negative marking in those tests, but you WILL have to do them for basically any finance-related graduate level job, be it in Big4, other professional services or banking. Often you get asked to repeat the tests at assessment centres anyway. Just practice them over and over, the techniques and sometimes even questions are exactly the same for many of the questions.

 

I had to take the SHL Test after my interviews

__________________________________________________________________ Don't even try to complain about my grammar and spelling mistakes!
 
Jimbo:
what did they ask

it was for Capital Markets

40% CV, motivation 30% technical questions: option pricing theory, greeks, interest rate parity, I had to calculate forward rates, CDOs,... 20% questiones like: do you know the current swap rate, bond yields in EU & USA, FED/ECB policy 10% brain teasers

__________________________________________________________________ Don't even try to complain about my grammar and spelling mistakes!
 

you have to be more specific on what you mean by numerical test?

Technical Questions? brain teasers? Or the test they make everyone in europe take?


Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...

 
Jimbo:
Give me some more concrete examples? Could you describe the greek for instance? How far off on current rates were you?

no, the interviews were great. So no problems with all the questions mentioned above.

I just screwed the SHL numerical test (www.shl.com)

__________________________________________________________________ Don't even try to complain about my grammar and spelling mistakes!
 

I received invitation for 2nd round yesterday.

__________________________________________________________________ Don't even try to complain about my grammar and spelling mistakes!
 

they asked you option pricing theory? for a analyst straight out of college position? how quantitative were those, did they ask you to derive black sholes? Also why would they ask you such questions for a capital market position.......

 

some explanations

  1. I'm studying towards a PhD in finance
  2. I mentioned Option Pricing theory on my CV
  3. 3 trading internships
  4. etc.
  5. ....

Don't even try to complain about my grammar and spelling mistakes!

__________________________________________________________________ Don't even try to complain about my grammar and spelling mistakes!
 

I was just asked some basics.

e.g.

what determines the value of an option?

what is more worth an at the money call or atm put option on EUR/USD.

how can you replicate a digital option with plain vanilla options.


Don't even try to complain about my grammar and spelling mistakes!

__________________________________________________________________ Don't even try to complain about my grammar and spelling mistakes!
 

yeah, I was allowed to use a calculator. Under normal circumstances the numerical test insn't a problem, but I got only one hour sleep the night before and was still a little drunk. I've passed the same test twice one month ago.

@ call/put question - you have to consider the interest rate parity


Don't even try to complain about my grammar and spelling mistakes!

__________________________________________________________________ Don't even try to complain about my grammar and spelling mistakes!
 

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