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Bloomberg Aptitude Test

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20 hours online course on Bloomberg Aptitude Test, BAT:

http://www.wiziq.com/course/7526-bloomberg-assessment-test-bat-exam-prep

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Bloomberg Aptitude Test

  1. 1. Bloomberg Aptitude Test Prep (20 hours Online Course) Shivgan Joshi shivgan3@gmail.com From the author of http://stockcreditfinancecfa.blogspot.in/
  2. 2. Course Structure Class No. Topic Class Duration 1 Strategy to take Bloomberg Assessment test (1 hrs) 2&3 FRA/Corporate/Equity Valuations/Ratios (4 hrs) 4 Investment Banking (2 hrs) 5 Bloomberg terminal (1 hrs) 6&7 Bond/Fixed Income Market/ Derivatives (4 hrs) 8 Economics revision/Federal Reserve (2 hrs) 9 Interpreting Market News (2 hrs) 10 Analytical Reasoning (2 hrs) 11 Revision / Extra session (2 hrs)
  3. 3. Disclaimer  Copyright of all questions belongs to Bloomberg  This video is for non profit and research purpose  Based on 3 file which are on BAT Website: 1. BAT_Demo.pdf 2. BAT_Presentation.pdf 3. SampleQuestions.pdf
  4. 4. About the Author/Instructor  Instructor has 68% score on BAT, in aprox. top 90 percentile globally.  Cleared CFA L1, FRM L1 exams.  Have experience of teaching on Wiziq, taking classes on GRE and GMAT for the past 2 year.  Website/Blog: qcfinance.in & stockcreditfinancecfa.blogspot.in
  5. 5. Content          BAT Exam Structure Strategy to take Bloomberg Assessment test FRA/Corporate/Equity Valuations/Ratios Investment Banking Bloomberg terminal Bond/Fixed Income Market Economics revision / Federal Reserve Interpreting Market News Analytical Reasoning
  6. 6. BAT Exam Structure  Bloomberg Assessment Test (BAT) consists of 8 sections with total of 100 questions to be completed in 2 hours. Source: Bloomberg Institute
  7. 7. Exam Sections  News Analysis – Consists of 12 Questions designed to assess the capability to use information from news articles.  Economics – Consists of 12 Questions designed to assess the application of Economic Concepts.  Math Skills – Consists of 14 Questions designed to assess the broad-spectrum math skills, with an emphasis on finance related math.  Analytical Reasoning – Consists of 12 Questions designed to assess the problem solving ability.
  8. 8. Exam Sections (Contd…)  Financial Statement Analysis – Consists of 12 Questions designed to assess the basic understanding of financial statements.  Investment Banking – Consists of 12 Questions designed to assess how one applies the fundamental principles of financing & strategic advisory performed by an Investment Banking.  Global Markets – Consists of 14 Questions designed to assess familiarity with a broad range of concepts, current events, and trends in the global financial markets that are presented in the media.  Chart & Graph Analysis – Consists of 12 Questions designed to assess your ability to interpret and use information found in charts and graphs.
  9. 9. BAT Strategy  Leave no weakness: Importance of balance  Have it all ready for the exam  Play time bound game  Explore public files
  10. 10. Quant & Verbal  Logical Reasoning  Quant  Verbal  Strategy for geometry, probability, reading comprehension, critical reasoning, table formation.  1 set of questions
  11. 11. About Bloomberg Terminal  B-terminal (ticker) data from Bloomberg  Reuter RIC.  Importing on excel.  Shortcuts.  Basic idea about terminals like Factset, capital IQ, etc.
  12. 12. News Analysis  News of Financial Markets.  Chart of the day.  Importance of federal reserve and market direction.  Reading bloomberg.com & Reuter.com.
  13. 13. Advanced Equity Valuation  Sector to understand: Oil & Energy vs. Technology vs. Healthcare etc.  Adjustments & apple-apple comparison of intra sector Companies.  FCFE & FCFF for valuation.  Making Projection: Element by Element.  Intuitive understanding of formula EV/EBITDA.  Computing CFO from various methods.  Equity CFA L2.
  14. 14. Investment Banking  EV/EBITDA  Transaction vs. Trading multiple  Rating effect on spreads  Share buy back  Monte Carlo  Effect of P/E on acquisition  Synergy  Google buying Motorola (specials on patents)  IPO (Facebook)  Corporate Finance CFA L2
  15. 15. CFA L1 vs BAT  All topics of CFA L1 are important:  Economics & FSA (imp).  Fixed Income, Equity & Corporate Finance (imp).  Derivatives (less imp).  Portfolio Management, AI, Quant (less imp).  CFA Formula Sheet is very useful.  FRSA is lowest mean, means it is toughest.
  16. 16. FRM L1 vs BAT  Many questions that deals with rating agencies.  Kind of most talked about thing: The rating agencies.  Predicting Volatilities.  Foundation or Risk.  VAR (bonds and rating etc).
  17. 17. GMAT vs BAT vs CAT  RC  CR  Analytical Questions.  Modeling question.  Even the new section included which is Analytical Reasoning.
  18. 18. CMT vs BAT  Chartered Market Technician is Taken by MTA  Charts at Terminal  Bull vs Bear  Reversal  Support
  19. 19. CFA L2  Equity (transaction vs trading multiples).  Corporate Finance: corporate action.  Financial Reporting Analysis: Consolidation.  International economics.  Cash flow calculations.  Mistakes Improvement.
  20. 20. Advanced Equity Valuation  Sector to understand: Oil & Energy vs. Technology vs. Healthcare etc  Adjustments & apple-apple comparison of intra sector Companies  FCFE & FCFF for valuation  Making Projection: Element by Element  Intuitive understanding of formula EV/EBITDA  Computing CFO from various methods  Equity CFA L2
  21. 21. Enterprise value & Weighted Average Cost of Capital  Enterprise value =common equity at market value+ preferred equity at market value+ minority interest at market value, if any+ debt at market value+ unfunded pension liabilities and other debt-deemed provisions- associate company at market value, if anycash and cash-equivalents.
  22. 22. 1: Introduction to BAT  Distribute time weighted on the questions in section.  BAT vs CFA vs FRM vs GMAT vs CMT vs Terminal: What matches where?  Exam has some part embedded from all.  Easy exam for those who have flavor or experience with all four.  All real relevant areas covered.  Excel at Bloomberg Terminal.
  23. 23. 2: Bloomberg Terminal  Understanding what is it all about.  3 tutorials are there: 1. Bloomberg_Tutorial.pdf 2. Bloombergfull.pdf 3. Bloomberggetstarted.pdf  Helping in understanding how their platform looks which we will be working on.
  24. 24. 3: Corporate Valuation (Equity)  Equity Valuations (CFA L2).  Trading Multiples P/E vs Transaction Multiples.  DCF: FCFF vs. FCFE.  Importance of EBITDA.  WACC computation and Beta.  Private company valuation.  Residual valuation.
  25. 25. 4: Investment Banking M&A  Matrix questions of merger and acquisition.  Synergy and re pricing.  IPO for getting money, and effect of activity.  Determination of final stock prices of the acquiring company (price of the company once the deal goes through) in M&A.  Stock-exchange, debt, equity, and combined debt/equity payments in M&A.  EV multiples EV/EDITDA.  Investment Banking by J. ROSENBAUM J Wiley.
  26. 26. 5: Fixed Income & Bond market  Real terms in market based on news analysis.  Many questions in this area: 1. Duration & Convexity 2. Treasury, Corporate Bond 3. ABS  More toward FRM as questions are tough.  Interpretation of News.
  27. 27. 6: Global Markets Sensitization  Numerical  Greece, Spain & Italy  CDS  EU Crisis  Low scoring area after accounting  UK / Japan / EU / Latin America
  28. 28. News Items  General News interpretation and decisions.  Bond News for PIGS / Japan / Fed impacts.  News of recession in EU / UK.  Looking into the past to recession (correlation).  Recession creates arbitrage opportunity to earn money.  Correlation between Bonds, Commodity(gold and crude), S & P 500.
  29. 29. 7: Economics  CFA l1 and l2 included like currency also.  Quantitative easing and its effect.  Interest rate effects on Current forwards.  Currency / interest rates / inflation.  Effect of Federal interest rates.
  30. 30. 8: Financial Market  Capital Markets is another where people score low accuracy.  Derivatives and Exotic financial instruments like Volatility Trading, ETFs, CDS.
  31. 31. 9: Financial Market  Important Area.  Chart of the Day: Bloomberg website.  Which one to do first and which one to do last.
  32. 32. 10: Logical Reasoning questions CAT vs BAT  New Section added in GMAT.  Data arrangement.  Table-Astra (Astra in Sanskrit means “Weapon”).  Other questions with lots of Data on the screen.
  33. 33. Conclusion  100% Coverage to all major areas.  Strategy for exam.  Sensitization to all areas.  Tried to link BAT with other Exams.  Pointed out the difference and similarities.
  34. 34. References  www.stern.nyu.edu/~adamodar/pdfiles/Bloombergfull.pdf  Bloomberg Institute (website)
  35. 35. THANK YOU

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