Tag Archives: Finance

Financial Intersections

Financial Intersections

After analyzing my posts over the last few months here and the success of certain ones, I’ve decided to start, yet another blog, entitled Financial Intersections. I’ve realized that my primary blog has defined itself as something quite distinct from the general topic of finance. Not only this, but the limited posts that have related to finance have been fairly successful from my viewpoint so it only seems proper to detach them as their own blog. I’m excited to have one more addition (without a doubt the last) and to get my workflow to a point where I can maintain all of my blogs with the least amount of overhead so to speak. Thanks to everyone who has followed my blog and my several others. I really appreciate the hits and please check out the 7th and final addition.


The Wall Street Admissions Test

Image

This is a comment I posted subsequently on the forums at WSAT regarding a question about the test’s scoring. This was shortly after I had finished taking the test myself. (Disregard the typos.)

“I just finished taking the test and I feel like the raw score is meant and subsequent sub scores for each category are meant to be sort of statistical representation of what your score really is. I would say that given your sub scores you can get an idea for your particular standard deviation and assume that your true score is probably around your raw score +/- x, where x is an indication of such things as the time constraint and fairly new nature of the test. I definitely have a lot of comments about it… the time constraints are an issue… a definite emphasis on depreciation (I don’t quite know why)… excessive information for some questions though I understand that they’re testing your ability to extract the appropriate information from a set of financial statements… the logic questions seem a bit overdone (five questions to one scenario is a lot)… and so on and so forth. I think for right now so long as your overall score is above 40 and some of your sub scores dip above 50 that is probably on point for someone seeking an entry level position in the financial services industry, whether it be in investment banking or accounting etc. and of course you have to realize that just as some people have stated, a slight increase in some of the time constraints would probably boost many people’s scores by at least 7 or so points. I’d like to know more about the WSAT in general myself. There really isn’t much out there on it.”

It’s definitely one of the hardest tests I’ve ever taken and the problem is that it is relatively new. The test gives you your raw score along with your raw score in each subject area your tested in. The one glaring problem that I’ve read about and experienced with this test is the very intensive time constraints. There were several times when I had to abandon finishing my computations for a particular question just because the time was coming to an end. In that scenario, I had to come up with a very decent approximation of what the answer should be and elect the closest answer for that approximation in order to keep myself from missing a point altogether. The WSAT also emphasizes certain topics over others and it’s difficult to discern why that is. For example, there were several questions on depreciation, while other topics in finance, that are much imperative to an understanding of the field, are only given one or two questions. The logic section is also a little over-stressed. Nonetheless, the WSAT is gaining in popularity and I for one would like to learn more about, its scoring, and employers are interpreting applicant’s scores. If you’re getting ready to take the exam, the best advice would be study up, but to really just calm yourself and push through the test as best you can when you finally decide to take it. When you receive your score, look at as a rough estimate and as I wrote in my comment above, and have read from others, in general a score above 40 seems to indicate an above average score as even those well-versed in the field (with years of experience) have trouble with the WSAT. It’s a very challenging test.


%d bloggers like this: