Training the Stree Accounting Pre-Test

Does this thing matter? Is it worth putting in the time? If I've taken basic accounting classes is there a need to study? Does your employer see it? There are some old threads on this but nothing recently.

 
Best Response

Someone posted about "failing" this test recently that started a small discussion on it.

I have an accounting background from school and would say the exam difficulty is roughly equivalent to what you would encounter in an introductory financial accounting course. From what I recall, there are maybe 2-3 questions that might seem difficult for someone who doesn't have a basic background in accounting. Even those are pretty simple--they might just be testing your knowledge on curricula some may consider nonessential, such as how AOCI flows onto the balance sheet. The only kind of "finance" on the exam involves simple time value of money calculations, such as determining the present value of a bond.

If you go through the accounting primer book that TTS provided, you will be fine. To answer your other question, the test is used as a benchmarking tool to gauge your grasp of fundamentals before starting training. I don't know the specific breakdown, but falling below a certain % results in a few additional days of training immediately prior to when the full analyst class begins.

 

I don't know the exact %. Depending on what bank you are starting FT training with, you should already know the implications of your score based on the final start date you were provided. I know at my bank incoming analysts that did not meet the minimum requirement are starting training 2 days earlier than the start date initially provided to us.

 

I'd echo what GreekRX said. Just took it after skimming through the TTS acct book for 15 mins and felt like the quiz was easy. Finished it with ~25 mins left. Some questions were straightforward, some required a bit of calculation, and 1 or 2 were odd/tricky and I almost got them wrong due to over thinking.

Nothing is true; everything is permitted.
 

No. The banks split employees into either an introductory training course, which starts at the basics, or an intermediate training course that cover the same material but with greater depth.

In my experience, this did not impact group placement.

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It's easy...for an accounting or finance major. Don't stress about it. Even if you don't pass you'll just have to attend a one or two day bootcamp. I'd avoid trying to glean tips and answers from others because if you don't know the basic stuff that's on it you will struggle through training. It's just designed to see if you can keep up with the material that will be taught in the beginning of actual training.

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Can you retake?

I wouldn't worry too much if you're not an accounting or finance major. Large banks sometimes have two training classes and this helps to place them in the advanced class v one for liberal art majors or science majors etc. You might be required to do an extra class or two of accounting but when it comes to the tests during training, don't fuck them up. They can affect placement.

 

Fortunately or unfortunately, however you look at it, I'm a finance major from a state school and taken a few accounting classes back in Sophomore year.

I should be able to catch up and sit through with the advance level hopefully as I hope they overlook this for me considering my grades. But kind of like as I mentioned before, I sort of just winged it after skimming through the TTS book.

The test was easy now that I think about, but I was over-thinking the answers and probably not taking it during the best time - I took it right after I left a final exam after pulling an all-nighter on Friday night. I really should've gotten 70% at least after I looked at some I got wrong. Really dumb of me.

I cannot retake and don't mind doing a day or 2 of bootcamp, but I just don't want to be affected by this going into Training. I have full confidence in myself I won't fuck up again.

Think this one blip would hurt me for placement though, assuming that I do well in training?

 

This is exactly what I was looking for. Required to take a TTS pre accounting exam, and I know its part of my BB firms general analyst program, but I know I won't necessarily be involved in a lot of valuation modeling.

Curious, I am looking to transfer into the IBD group of my firm within a year or two...will my score even really be a factor when I try and transfer or not at all? In a cap markets grp.

 

I took the exam when TTS made it available last month. I have an accounting background from school and would say the exam difficulty is roughly equivalent to what you would encounter in an introductory financial accounting course. From what I recall, there are maybe 2-3 questions that might seem difficult for someone who doesn't have a basic background in accounting. Even those are pretty simple--they might just be testing your knowledge on curricula some may consider nonessential, such as how AOCI flows onto the balance sheet.

If you go through the accounting primer book that TTS provided, you will be fine. For your own sake, don't cut corners on something so elementary. Regardless of what group you are working at, having a basic grasp of financial accounting will be valuable.

 

Im interested in this as well. I am an incoming analyst for a BB in London, although training is in New York. I have to take a pre training test through AMT - would this be the same as the above? In regards to prep, do you think its necessary for someone who was a simple Econ major with no real work experience? Any comments on general difficulty would be appreciated as well.

Thanks!

 

I got a 22% on my first test during training and a ton of people I know got 0% (if you're using AMT, watch out for some formatting instructions that your training analysts might take very fucking literally). I also never showed up to training on time and missed one of the last tests as well because I was literally too drunk to make it to class when I woke up that morning. I think i stumbled in around 2:00

i also failed 2 finance classes while attending an [!]ohmigosh[!] STATE SCHOOL

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