Bloomberg Assessment Test (BAT) Prep Courses?
I'll be writing the BAT at my school this Friday, March 15th. I was wondering if anyone knew of any good preparatory resources that may be useful in reviewing/studying for the test. I would have preferred to have left myself more than 4 days but unfortunately, I was busy with other exams. Also, if anyone has other previous experience with the test, any tips would be greatly appreciated.
I can't post a link but if the BAT sounds interesting to you Google "Bloomberg Assessment Test" and click the first link for an explanation of what it is.
It's so broad from my rememberance that you really can't prepare. Just be refreshed and thinking clearly for the test. Maybe go through some of your basic finance class concepts? (WACC, Valuations, CAPM, Accounting Methods, Economics, etc.)
Thanks, I found this quote:
From this thread: http://www.wallstreetoasis(dot)com/forums/bat-bloomberg-assessment-test
Seems like a pretty good summation of everything that's included.
I would agree. That summary doesn't give many specifics but I suppose it relates to what I said, it's really broad stuff.
Taking the Bloomberg Assessment Test tomorrow, tips? (Originally Posted: 01/21/2013)
Hey monkeys,
I'm taking the BAT tomorrow and after numerous days of practise, I think I'm more or less in the best place I can be before the test.
Any tips, though, from you guys? If any of you have taken the test before, it'd be great if you could share some of the prep tips for it as well as the difficulty and other characteristics about the test.
It's all fairly easy except the analytical reasoning section which is some crazy brainteaser stuff that takes way too long to solve. Make sure you leave enough time for that section.. it's not that many questions so it's deceiving.
Hey rcm,
brainteasers like the sort of thing they ask you at interviews? Or those number sequence kind of thing? Damn I can never get those quick enough.
How about the analytical/numerical side of things? I've heard preparing for the CFA 1 helps, but I've essentially practised it again and again and there are a lot of quant stuff involved.
Check out their website. They have sample questions of each section.
https://www.bloomberginstitute.com/bat/start/getToKnowTheBat.pdf
The sample question they have for analytical reasoning on there is really easy compared to what I got on the actual test though.
I got over 80 for my test. should i list it in my resume?
Yup I did go through the sample questions on the website, but they're suspiciously manageable and I've heard that they're a terrible representation of the true difficulty of the BAT. They'll only be providing the calculator found on Windows PCs, and it's terrible to do quant without a proper calculator. Bah.
JasonLoh, I can't really say because an 80 doesn't actually state anything about your comparative ability. Hope you fared well among the global cohort!
It's been a while, but I don't remember the math being anything too complicated that you can't do easily on the Windows calculator
Do any US companies use this test? I honestly don't even know how it's scored or what it is.
Here come the tips: that test is useless shit. Been there and done that. Nothing.
Hey MTG, why'd you say that? Hmm, just something to add to the resume though. Plus I get off work 3 hours earlier too LOL
I am guessing the test is well designed. But I also think Bloomberg Assessment Test" tested your ability to use a Bloomberg terminal.
It's like telling somebody your score on China's Gaokao - I am sure it is impressive if you know what is it is, and how scores are distributed. But hardly anyone does. This is why everybody puts SAT/gmat scores on their resumes.
I think charging companies to search its whats killing it
They need to make it free for all stakeholders.
BTW I got 82 on it and I was in the top 2% of all test takers (Back when I took it)
it's pretty useless as anything other than a "testing your finance knowledge to make yourself feel good" kind of thing. I'm in the top 50 globally, it's been about two years since I took the test (was top 25 at the time, slowly drifting down) and the connections that have been made have been offered to me have been terrible. i don't put it on my CV because no one knows what it is about most people assume it has something to do with your ability to use Bloomberg terminal.
Bloomberg Aptitude Test : key topics (Originally Posted: 04/21/2012)
Bloomberg just launched the Bloomberg Aptitude Test (BAT) this year. I along with several thousands university students took the test this month. The BAT test several key topics that a student wishing to pursue in finance should know. Subject areas covered on the BAT include Finance Knowledge and Aptitude: Corporate Valuation, Economics, Financial Markets, Financial Statements Analysis, Investment Banking, Investment Management; Career Skills and Aptitude: Analytical Reasoning, Math Skills, Modeling Skills, Situational Judgment, Verbal Skills.
This is the link to the actual website: https://www.bloomberginstitute.com/bat/start/
How soon do you think this test will become the industry standard? Do you plan or have use it to contacts potential candidates?
I doubt this will ever become the industry standard. Banks have made due without it for years, and have their own methods of teaching incoming analysts how to use Bloomberg, it isn't particularly challenging for most people to pick up on the fly. There are also existing certifications one can get, and they never held much weight when picking analysts. Learning how to search on bloomberg or display data is the easy part of the job.
Industry standard? That test is a walk in the park.
I have to admit it was pretty easy. I scored in the 90th percentile for corporate valuation and I know very little about that subject. everything I know came from the book Investment banking by Rosenbaum
Oh so these are actual subject exams, my mistake I thought it was some sort of centralized replacement for Bloombergs various certifications in Fixed Income, Equities, etc, which are currently just tests of using their terminal.
I have no experience with the BAT, so can't speak to them.
BAT is a fucking joke.
It's really called the Bloomberg Assessment Test, and yeah I agree with Flake that it's a joke.
I scored in the top 1% globally last year and it resulted in 0 companies contacting me. That should give you an idea of the state of its industry acceptance currently.
IIRC companies have to pay a large fee to access test results and contact information.
Seems like a terrible business plan. Bloomberg should give away the data cheaply for a few years, and then when companies start to rely on it to find good candidates they can jack up the price.
I was contacted for at job as a product manager for bloomberg.
Scored in the top 1% globally (got their congratulatory email) as well but no one contacted me.
To be honest, I feel with the amount of kids trying to break into finance these days, a test is going to happen sometime down the line.
European banks and Asian banks already give you tests. Some banks give you tests at the end of the SA program just to figure out who really learned their stuff.
I think it'll take a while for the US to adopt this but I can see Asia picking this up pretty fast.
I really have my doubts that this might be of any help to non-targets
Because it is a paid-for test on both ends, and that it only measures aptitude, I don't believe it will be of much use.
It doesn't cost the students anything to take and I believe is free to access to terminal users? Either way if it is helping new grads even in the smallest way got to count for something!
anyone know if it costs money this year?
I scored in the top 3%. I put it on my CV, and my interviewer (now my employer) briefly asked me about it. I got contacted by a couple of companies, but didn't pursue any.
It's free, you might as well.
Anyone Ever Taken the BAT (Bloomberg Assessment Test)? (Originally Posted: 09/28/2013)
...If so, what should I expect? How much clout does it hold in the industry and/or has anyone ever heard of it?
Assuming I do well enough, I wanted to consult with everyone here on WSO before throwing it on a Resume or mentioning it to a recruiter.
I took it a little while ago and got in the 95th percentile. Got contacted for one position that seemed half decent (didn't end up pursuing it). I wouldn't expect much from this unless you do really well and even then it's just not that well known/utilized yet.
bigblue3908 - Ahh, I see - thanks for the insight. I'll give it a go for the hell of it and see where I end up.
Also interested. BUMP
I've taken it. Got in the 99th percentile but my score was only like 670/800 so not even that high. I think a lot of the people who take it are not very knowledgeable about finance since its open to anyone.
I was contacted one time for an interview by a small hedge fund (~$400M AUM) in NY for an operations role. I don't think employers have really heard of the BAT.
Took it and got 96th percentile, one employer (Gugg) reached out for an investment management role.
Took it, despite scoring high, no actually leads
Best way to prepare for Bloomberg Bat test? (Originally Posted: 11/03/2013)
I am a recent Finance graduate looking to sit the Bloomberg Bat test early next year. I was wondering how people that scored well on the test prepared. I got some mix reviews from previous candidates - some found it harder than CFA Level 1 while others said it is easier?! I still have my corporate finance, Economics and Quantitative Analysis notes used during my degree but not sure if that is sufficient though. I also managed to get the CFA Level 1 textbooks which i plan to use in preparation but that may be an overkill considering it will take a significant amount of time to cover all the material. Any input would be appreciated.
Quant stuff won't be too useful. Know your three statement analysis especially. That's the only thing I can recall that you could really study for
Take it right after you take CFA level 1 or the GMAT as it incorporates elements from both. Probably not worth studying for if you're taking it on its own as there's too much material (like CFA), but the test doesn't have a lot of value (unlike CFA). As an aside, the BAT is really fast paced so you really have to hustle to get all the questions done on time.
BAT, Bloomberg Assessment Test (Originally Posted: 03/17/2011)
Has anyone here taken BAT? If so, can you guys please comment on the difficulty of the test and the success rate as to getting employers to contact you? Did some of the better known banks on the street contact you?
And, how did you study for this and for how long? Are there any useful resources out there?
Thanks in advance.
The tests are useless.
http://www.wallstreetoasis.com/forums/certifications-from-microsoft-and…
MS&Bloomberg product cert. tests are quite different from this BAT. The BAT is designed to test your general knowledge in finance, not the specific products.
We had another thread on the difficulty before, but I can't comment on the firms recruiting through it. The test iself is really easy though.
http://www.wallstreetoasis.com/forums/bloomberg-assessment-test
Thanks rafiki, so you took the test? How did you prep? Did you end up working at the firm that contacted you for an interview?
I am planning on taking next friday's. I wasn't sure a week is good to prep. I know everyone's saying it's pretty basic material but I want to make sure I do the best I can.
I took the BAT in early February and scored in the 88th percentile with no preparation (taking into account I'm an economics and finance major so not a lot of new stuff). Also, its not necessarily "basic" material depending on your knowledge level in business. The post above mine did a great job of laying out the components of the test so be sure to prepare most for your weaker parts.
That said, sadly, its a little late for the test to matter this year since firms are finishing the hiring process now.
How do you think you did on test?
Any more info on this...? Have they released more than those few sample questions?
Heard it was quite difficult
I took this recently, with no preparation, and think I did well. That being said, I wouldn't exactly call it easy.
I will comment section by section since I have a little time and I'm a nice guy.
Economics - Very simple stuff, but watch out for trick questions. Review the specifics of GDP and the rules surrounding what's included in it.
Financial Statement Reporting and Analysis - Very basic, but again with trick questions designed to make sure you understand some of the subtleties. Just know how basic financial statements work; what they are, what impacts them, etc.
Valuation - Know valuation methods and which to use when. Time value of money.
Investment Banking - corporate finance and Financial Advisory - My memory is foggy here, this was quick and easy
Investment Banking - Capital Markets Issuance / Syndication - Also quick, lots of hypothetical questions
Global Markets - Highest number of questions in this section, basically a combination of all the other finance/econ sections but with some FX stuff in there
Investment Management - Easy
Verbal Skills - Read news articles and answer questions about them. Much like the SAT reading comprehension
Math Skills - Similar to SAT math, but easier
Situational Judgment - subjective section designed to assess how you would handle certain situations in a business setting
Ethical Reasoning - same as situational judgment but the situations are ethical dilemmas
Tasks - a news item pops up, how does it affect the value of a certain trade/position?
Analytical Reasoning - logic word problems. if you are not flying through the test and think you might need the full time, DONT LEAVE THIS SECTION TILL LAST, I think it took the longest
Basically, if you paid attention in basic finance/econ courses and have some experience trading anything you should do as well as you would do on a standardized test.
People unfamiliar with finance/econ/accounting would bomb this though.
EDIT: Also it's worth mentioning that I used the full three hours. I think each section is weighted equally and wrong answers count the same as blank answers, so answer everything and don't spend too much time on a section and not finish.
Bloomberg Aptitude Test (BAT) (Originally Posted: 01/26/2015)
I am considering taking the BAT exam; for those of you who have taken it is there a good way to prepare? Considering it is an aptitude test, do you just take it without practicing?
Also, will taking this test help recruiting for all types of industries? For example, if I am interviewing for corp. finance positions, will it help me out?
Any more general information would be great, thanks guys.
its kind of pointless, not sure ive actually heard of anyone getting a job through it.
OP you should try the search function. Not because I'm trying to be a dick but prior to your post just now I had never heard of BAT. Just searching for it here on WSO gave me like dozen threads on BAT and it looks like the all the answers you seek are in those threads.
You aren't meant to study for it but you definitely could, I think it would help. And I have received some interest from employers (4 of them) through the BAT test but none have lead to anything. I still think its a good thing to do, helps your resume for sure.
Yea interest from 4 means that he sent his resume to 4 firms who supposedly looked at his profile. Waste of time
got a bond trading job out of it, do it man
Is the BAT only restricted to current students or is open to the public? I'm trying to get in the door into IB but graduate in 2008 (which was not available then). Have Financial operations and Credit risk experience. Also for people who have taken the exam, is the BAT exam more difficult than the CFA level 1? (can't image it being harder than CFA level 2 but could be mistaken) Thanks for your help
It's not even close it's so much easier than level 1 and won't get you a job anywhere
Talk with your peers at school-they can give you promotional codes for free BAT.
Bloomberg Aptitude Test (Originally Posted: 01/13/2014)
For an Econ major, would scoring in the 76th percentile be good on the BAT? And is it something worth putting on my resume?
Right now, I'm in a liberal arts school but may get into the business school.
you should put it on your resume right beside you name in size 15 bold font
OP, are you a first year student?
I got the same score as you (didn't have time to finish last two sections). It's a horrible score because a lot of the people taking the BAT don't know much about finance. It does however show that you're interested in finance.
I scored in the 99th percentile. That is with guessing on some of the math problems because I didn't want to spend too much time on them. I was incredibly surprised I scored so high, so I would not say a 76th percentile is impressive. Keep it off the resume. You have taken it and know what to expect. Since it is free, take it again if you want. It seems like it is the common consensus that the BAT is worthless though.
Got in the 90th percentile. Had a decent amount of resume requests from it but nothing ever solidified. It is something interesting to bring up in interviews, but make sure the interviewer knows it doesn't mean you are "Bloomberg Certified." That can easily become awkward.
Scored in the 84th percentile and from a liberal arts background now in MBA program. Seems to be that unless you have work experience that is relevant to finance you should include it in your resume to show employers your interest is not an afterthought.
Got 95th percentile this time round. I received an opportunity to interview at a brokerage firm in New York for full-time when I got 89th percentile during my first year (they have requested for my resume).
Hi, It is definitely worth putting on your CV, you may want to highlight your strengths by underpinning qualitative statements through your score in for instance Maths saying you scored higher than the global mean in the Bloomberg Aptitude Test. If you want to retake the BAT, you can also do it 24/7 from the comfort of your home: http://bit.ly/Take_The_BAT
In fields as competitive as banking/consulting/S&T, that number is not impressive. To put this in perspective a 76th percentile score is a 25 on the ACT, a 1770 on the SAT, and a 650 on the GMAT. None of these are embarrassing, but I would also not put them on a resume.
Bloomberg Institute Test? (Originally Posted: 09/10/2012)
Hey there, guys. New chimp monkeying around. Got my S7 and S66 this year. Was wondering about all these other side exams, not from FINRA. Such as those by the Bloomberg Institute. What's on that free exam and are they worth taking? Would employers even care about the results?
It's only good for seeing what you really know. Doesn't help in any other way. Pretty useless.
I have to agree they are pretty useless. But at least the bloomberg test is free, doesn't need preparation and you can see where you are compared to your peers.
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