Numerical Reasoning Tests

Numerical reasoning tests gauge how adept you are at dealing with a variety of different mathematical problems; everything from complex equations to graphs, under timed conditions.

Most numerical reasoning tests include typical business scenarios as a means of framing the questions. Every test is different, but practising numerical reasoning tests is the best way to get to grips with everything from the types of questions you’re likely to see, to the variety of mathematical themes you’ll be questioned on.

Unsurprisingly, careers in the financial sector demand individuals with strong numerical skills.

A numerical reasoning test helps employers determine how you cope with basic mathematical problems and how well you analyse data against a ticking clock. It’s standard practice for financial businesses to use numerical reasoning tests at the interview stage, to sort through a variety of candidates and learn more about their strengths and weaknesses in order to select those best suited to a job role or specific team.

Numerical reasoning tests take the form of multiple choice questions. And of course, unlike verbal reasoning tests, there will be definite ‘right’ or ‘wrong’ answers.

To ensure you’re being judged on your speed and efficiency as well as your skill, tests are always timed. More often than not you’ll be able to follow the ‘one question per minute’ rule, but it’s always worth quickly checking the allotted time vs. the number of questions you must complete for an accurate picture of how long you should spend on each question.

The good thing about numerical reasoning tests is you can prepare for them as for the most part, they test similar themes.

A solid grounding in fractions, ratios, estimations, percentages, data analysis and graph interpretation should cover you. Practising numerical reasoning tests as often as you can, before you take the one that matters will give you the best possible chance of succeeding in your chosen financial career. It’s always worth taking practice tests in a quiet room and under timed conditions - you want to mimic the test scenario as closely as possible to get used to what the real deal will be like.

Why numerical reasoning is the test that decides finance careers

If you are applying to a bank, an asset manager or one of the Big 4 accounting firms, one assessment stands between you and the interview more often than any other: the numerical reasoning test. Finance employers receive thousands of applications for a handful of graduate and internship places, and the numerical test is the filter they trust most, because the job itself is numerical. Reading a table of figures quickly, spotting the trend that matters and calculating accurately under pressure is a fair preview of the daily work in these roles, which is exactly why recruiters lean on it so heavily at the screening stage.

Finance-sector numerical tests have a distinctive character. Compared with the numerical tests used in other industries, they tend to be denser with data: a single question might present a table of divisional revenues, a currency table and a footnote about fees, and expect you to work out which numbers are relevant before you calculate anything. Timing is typically strict, often around a minute per question, so hesitation costs marks even when your maths is sound. And the contexts are drawn from the world you are applying to join: percentage changes in revenue, profit margins, exchange rates, interest, ratios between portfolios and market share. None of the underlying maths goes beyond confident GCSE level. The difficulty comes from doing it fast, accurately and inside realistic financial scenarios.

The good news is that this style of test rewards preparation more than almost any other part of the hiring process. Take a free practice test to see where you stand, then use this page to understand what your target employer's version is likely to look like.

Numerical tests by employer type

Different corners of the finance industry test in noticeably different ways. Employers do change test providers when contracts come up for renewal, so always check your own invitation email for the current supplier and format. The patterns below are a reliable guide to what each type of firm is looking for.

Investment banks

Investment banking numerical tests are widely regarded as the most demanding in the sector. Front-office roles attract enormous application volumes, and the banks use the numerical screen to cut those numbers early, so the tests are pitched to separate strong candidates from very strong ones.

Historically, many investment banks have used SHL-style numerical tests or similar formats from other major publishers: multiple-choice questions built around charts and tables, with roughly a minute per question. In recent years several banks have moved towards blended or gamified online assessments that mix numerical questions with logical and behavioural elements, and some have shifted the heaviest numerical testing into later-stage assessments. Which format you meet depends on the bank and the year, which is another reason to read your invitation carefully rather than relying on what a friend sat two application cycles ago.

Whatever the wrapper, the numerical core is consistent: dense exhibits, several figures you do not need, and questions that chain two or three steps together, for example converting a currency before calculating a percentage change. Goldman Sachs, JP Morgan and Morgan Stanley each run their own multi-stage selection processes, and our employer guides break down what to expect at each stage: see our guides to Goldman Sachs, JP Morgan and Morgan Stanley for the current picture, including where the numerical element sits in each firm's process.

If an investment bank is your target, treat the numerical test as a serious hurdle rather than a formality. Practising timed, data-heavy questions is the single most effective thing you can do, and a free practice test is the natural place to start.

The Big 4 accounting firms

Deloitte, PwC, KPMG and EY assess tens of thousands of graduate applicants every year, and each has invested heavily in its own online assessment experience. The trend across the Big 4 has been away from a standalone, old-style numerical paper and towards immersive or game-based assessments that weave numerical reasoning together with situational judgement, verbal reasoning and behavioural measures, often presented as a day-in-the-life of a junior employee at the firm.

Do not let the friendlier packaging mislead you: the numerical content is still there and still scored. You can expect to interpret charts, work with percentages and ratios, and make decisions based on financial information, sometimes with the questions adapting to your performance as you go. Because the formats differ from firm to firm and are updated regularly, it pays to read the firm-specific detail before you sit anything. Our employer guides for Deloitte, PwC, KPMG and EY cover each firm's current assessment stages and how the numerical element fits in.

The underlying skills the Big 4 are measuring are the same ones a classic numerical test measures: speed, accuracy and comfort with commercial data. Candidates who have practised conventional timed numerical questions consistently find the numerical parts of these newer assessments manageable, because the maths does not change even when the interface does.

Retail and commercial banks

High-street and commercial banks such as HSBC, Barclays, Lloyds and NatWest also test numerically, though the emphasis differs from the investment banks. Application volumes are high across a wider range of roles, from branch and operations positions to commercial banking and graduate leadership programmes, so the tests are typically pitched at a broad standard: fair for non-specialist roles, with tighter expectations for finance-facing graduate schemes.

Several retail banks have adopted blended online assessments that combine numerical questions with situational judgement and strengths-based elements, reflecting how much these employers weight customer focus and values alongside raw ability. The numerical questions themselves stay close to everyday banking material: interest calculations, percentage increases and decreases, reading account and product tables, and simple ratio work.

HSBC is a good example of a large bank whose process blends numerical reasoning with other assessment styles, and it is one of the employers candidates ask us about most. Our HSBC guide walks through the current stages in detail. For any retail bank, the preparation advice is the same: get quick and accurate on percentages, interest and table reading, and rehearse under time pressure with a free practice test before the real thing.

Worked examples: finance-style numerical questions

The two questions below are practice items written in the style of finance-sector numerical tests. Work through each one against the clock, aiming for around a minute, then check the reasoning.

Example 1: percentage change from a financial table

A bank reports the following revenue by division:

Which division recorded the largest percentage increase in revenue between 2024 and 2025?

A) Retail Banking B) Corporate Banking C) Wealth Management D) Markets

Answer: B) Corporate Banking.

The efficient route is to compare each division's change relative to its starting figure rather than calculating four precise percentages. Retail Banking grew by £21m on £420m, which is 21 divided by 420, or 5 per cent. Corporate Banking grew by £38m on £380m, which is 38 divided by 380, or 10 per cent. Wealth Management fell, so it can be eliminated on sight. Markets grew by £20m on £250m, which is 8 per cent. Corporate Banking's 10 per cent is the largest increase.

Notice the traps this question sets, because real tests set the same ones. Markets and Corporate Banking have similar absolute growth in pounds, so a candidate who compares raw changes instead of percentage changes picks the wrong answer. And Wealth Management is included purely as a distractor you should discard in seconds. Deciding what not to calculate is half the skill.

Example 2: currency conversion and margin

A UK asset management firm invoices a US client $756,000 for advisory services. The exchange rate is £1 = $1.35. The firm's costs for delivering the work were £420,000.

What operating margin did the firm make on this engagement, in sterling terms?

A) 20% B) 25% C) 33% D) 40%

Answer: B) 25%.

Two steps, in the right order. First convert the revenue: $756,000 divided by 1.35 gives £560,000. A common error is multiplying by the rate instead of dividing; a quick sense check catches it, because a dollar is worth less than a pound at this rate, so the sterling figure must be smaller than the dollar figure. Second, calculate the margin: profit is £560,000 minus £420,000, which is £140,000, and £140,000 divided by £560,000 is 25 per cent.

The wrong options are not random. Choosing 33 per cent is what you get if you divide profit by costs rather than by revenue, a classic margin error. Multi-step questions like this are the signature of investment banking and asset management tests: each step is simple, but you must sequence them correctly at speed.

Ready to try more under timed conditions? Take a free practice test and see how you score.

What finance numerical tests actually measure

It is worth being clear about what these tests are and are not assessing, because it changes how you prepare.

They are not advanced maths exams. You will not need calculus, algebra beyond rearranging a simple formula, or any financial theory. What finance employers are measuring is closer to numerical judgement: can you extract the right figures from a busy exhibit, choose the right operation, execute it accurately, and do all of that quickly enough to keep pace with the clock. Speed and accuracy are scored together, and the time limit is deliberately tight so that the test also reveals how you handle pressure, which is a fair proxy for how you will handle a deadline with a client waiting.

There is also a data-literacy dimension that finance-sector tests emphasise more than most: reading tables with mixed units, noticing whether figures are in thousands or millions, handling footnotes and exchange rates, and resisting distractor data placed there to waste your time. Strong candidates are distinguished less by raw calculating ability than by how little time they spend on the parts of the exhibit that do not matter.

How to prepare for finance-sector numerical tests

Rebuild the core toolkit first. Percentages, percentage change, ratios, fractions, averages and rates of exchange cover the overwhelming majority of finance numerical questions. Drill each until the mechanics are automatic, because in the real test your working memory needs to be free for reading the data, not for remembering how to calculate a percentage decrease.

Practise on financial material. Because finance tests frame everything in commercial contexts, practising with revenue tables, margin calculations and currency questions builds familiarity that generic maths practice does not. Reading the financial pages, or skimming a company's results summary and calculating a few changes yourself, is useful background training between practice sessions.

Make every practice session timed. The single biggest difference between candidates who pass and candidates who narrowly miss is pace. Practise at roughly a minute per question from early on, and learn your personal signal for when to make a sensible selection and move on. An unanswered question and an unlucky guess usually cost the same; a question that swallows three minutes costs far more.

Learn the traps by name. Wrong-denominator errors on margins, multiplying instead of dividing on currency conversions, comparing absolute changes when the question asks for percentage changes, and misreading units are the four errors that recur most in finance-style questions. After every practice test, review each miss and label which trap caught you. Errors you can name are errors you stop repeating.

Rehearse the real conditions. Sit at least a couple of full-length practice tests in one sitting, in a quiet room, with the on-screen calculator you expect to have on the day rather than your phone. Then, in the final week, check the specifics for your employer, including our employer guides above, so nothing about the format is a surprise.

Start with a free practice test today, use your results to target the weak spots, and build from there.