The Bloomberg Aptitude Test (BAT), a finance based test in which last year University students outscored the world average, will be taking place on campus this September 21 and November 16 in the Bey Hall Financial Markets Lab.
The University’s overall average was 52 percent, while the world overall average was 45 percent.
The University averages were above or equal to the mean in all sections, although students scored particularly well in the news analysis section. They placed 13 percentage points above the world average.
This 12-question section presents students with a series of brief financial passages and assesses the reader’s comprehension of the passage, according to the Bloomberg Institute.
This test, which is strongly advised for junior and senior business majors, will be offered free of charge for all University students. The chief purpose of this assessment is to help students highlight their strengths, identify their weaknesses, and connect with potential employers, according to the Bloomberg Institute.
Bloomberg L.P., a world leader in financial data analytics and news, will be hosting the 100 question, two-hour online test that measures students’ aptitudes for careers in finance. Consisting of eight sections, The BAT includes math, analytical reasoning, analysis of charts and graphs, news analysis, economics, global markets, analysis of financial statements and investment banking.
Last year, seventy University students took the BAT compared to over 100,000 students throughout 63 countries. University students exceeded the worldwide average in all eight categories.
Donald Moliver, Dean of Leon Hess Business School, says that he is very proud of the results that University students received last year. He believes the above average scores, particularly in the news analysis section, may have something to do with the University’s New Jersey location, which allows students to have constant access to news.
Moliver refers to Bloomberg as the language of Wall Street, calling it the most impressive language that someone seeking a career in finance could speak.
Moliver explains, “The Bloomberg terminal provides real time data. There are a lot of services out there that show what happened last month but Bloomberg shows what is happening right now.”
When giving students advice on preparing for the test, Gregg Ratner, senior finance and real estate major and president of the University’s Finance and Economics club said, “Focus on your strengths first and just wing it for the rest.”
Ratner took the BAT as a freshman, but feels more equipped taking it this year. He explains that while all of his finance classes help him feel more prepared this time, international finance with Professor Barrie Bailey and a derivatives class with Professor John Burke are what he thinks will aid him the most.
Because it is an aptitude test, students do not need much preparation prior to the exam. Department Chair of Economics, Finance, and Real Estate, professor Andreas Christofi suggests that students look at previous tests and sample tests on the Bloomberg website to familiarize themselves with the format.
Rather than assessing what students have learned in the classroom, the BAT puts students in real world scenarios that they can expect to encounter in the industry and evaluate how they think.
After completion of the test, students’ scores are complied in the Bloomberg talent search database for over 20,000 top finance firms to view, including banks, hedge funds, large multinational companies and small financial boutiques.