iMocha’s budget analyst test is the definitive pre-hire test for recruiters and hiring managers to assess candidates objectively. This test helps to reduce screening time by 80% and increase the interview-to-selection ratio by 62%. Our budget analyst aptitude test helps hire budget analysts.
The budget analyst is responsible for providing assistance and analysis during budget development. They look at the organization's past performance in terms of funds allocation to ensure current, and future budgets have the most effective, efficient allocation of financial resources throughout the company.
On a periodic and ongoing basis, the budget analyst must be able to look at the company's budgets to assess current expenditures and the accuracy of the corporate financial planning for expenses. This analysis must include the development and use of quantitative measures to properly assess the status of budgetary goals and direct future decision-making on company expenditures.
The budget analyst must also be able to present this information to management, executives, and other team members in a clear, comprehensive manner that allows individuals without extensive financial training to understand the current and future budget situation.
Responsibilities of the budget analyst:
The budget analyst will also consult with unit heads to ensure adjustments following program changes to facilitate long-term planning. Directly preparing regular and special budget reports to interpret budget directives and establish policies for carrying out directives.
Prepare a comparative analysis of operating programs by analyzing the costs of services performed during previous fiscal years.
Key skills required:
Verbal ability is essential because grammar and vocabulary are prerequisites for good spoken and written English.
Reading comprehension indicates an ability to comprehend and reason with the concepts on a written page.
Quantitative ability will indicate analytical thinking and problem-solving ability.
Logical Reasoning is assessed through the:
These questions will indicate the quality of deductive Reasoning and inductive Reasoning, which contribute to critical thinking ability.
Abstract Reasoning will indicate the ability to think, identify logical patterns, learn new skills, and solve complex problems. It is an indicator of fluid intelligence and shows an ability to strategize.
Accounting Fundamentals: The topics cover accounting topics such as posting entries, overhead allocation, FIFO, LIFO, Cash flows, stock valuation, adjustment entries, accounting principles, etc.
Financial Analysis: Financial Analysis covers topics on ratios, leverage, working capital, etc.
The budget analyst test may contain MCQs (Multiple Choice Questions), MAQs (Multiple Answer Questions), Fill in the Blanks, Whiteboard Questions, Audio / Video Questions, True or False Questions, etc.