Free African Reinsurance Corporation Aptitude Test Past Questions -PDF Download
In the competitive world of job recruitment, aptitude tests have become a standard evaluation tool for employers to assess candidates’ problem-solving abilities, critical thinking skills, and aptitude for the role. The Free African Reinsurance Corporation (Africa Re) is no exception, often utilizing aptitude tests as part of their selection process. In this blog post, we’ll delve into the significance of the African Reinsurance Corporation aptitude test, explore the types of questions you might encounter, and provide valuable tips on how to prepare effectively.
About African Reinsurance Corporation
Established in 1976, Africa Re is a pan-African reinsurance company that plays a pivotal role in the sustainable development of the continent’s insurance industry. With its headquarters strategically located in Lagos, Nigeria, Africa Re operates across diverse markets, supporting insurance companies and promoting economic growth throughout Africa.
African Reinsurance Corporation test Format
- Numerical Reasoning: This section assesses your ability to work with numbers, perform calculations, and interpret data presented in graphs, charts, and tables. You may encounter questions related to basic arithmetic, percentages, ratios, and data analysis.
- Verbal Reasoning: This section evaluates your reading comprehension, vocabulary, and language skills. You may be presented with passages of text and asked to answer questions based on the information provided.
- Logical Reasoning: This section measures your ability to analyze patterns, solve problems, and think critically. Questions may include logical puzzles, syllogisms, series completion, and analogies.
Sample Of African Reinsurance Corporation Aptitude Test Past Questions
NUMERICAL REASONING
Question 1:
The African Reinsurance Corporation reported a net profit of $5.8 million in the first quarter of the year. If their net profit for the second quarter is 25% higher than the first quarter, what is their net profit for the second quarter?
A) $5.8 million
B) $7.25 million
C) $6.2 million
D) $8.5 million
Question 2:
If the African Reinsurance Corporation’s total assets are $150 million and their liabilities are $60 million, what is their net worth?
A) $90 million
B) $210 million
C) $240 million
D) $100 million
Question 3:
The African Reinsurance Corporation invested $500,000 in a project. If the project generates a return of 8% per year, how much will the investment be worth after 3 years?
A) $520,000
B) $540,000
C) $560,000
D) $580,000
Question 4:
In the African Reinsurance Corporation’s portfolio, 40% of investments are in stocks, 30% in bonds, and the rest in real estate. If their total investment portfolio is worth $1.2 billion, how much is invested in real estate?
A) $240 million
B) $360 million
C) $480 million
D) $600 million
Question 5:
The African Reinsurance Corporation’s revenue for the year was $80 million. If their expenses were $50 million, what is their profit margin as a percentage?
A) 35%
B) 45%
C) 25%
D) 60%
Question 6:
If the African Reinsurance Corporation pays a dividend of $0.50 per share and has 10 million outstanding shares, how much do they pay in total dividends?
A) $5 million
B) $50 million
C) $500,000
D) $10 million
Question 7:
The African Reinsurance Corporation’s stock price increased from $20 to $25. What is the percentage increase in the stock price?
A) 20%
B) 25%
C) 30%
D) 50%
Question 8:
The African Reinsurance Corporation has a total of 500 employees. If 20% of them work in the finance department and 40% work in the underwriting department, how many employees work in other departments?
A) 100
B) 150
C) 200
D) 250
Question 9:
If the African Reinsurance Corporation’s premium income is $10 million and their claims paid out are $6 million, what is their claims ratio as a percentage?
A) 40%
B) 60%
C) 150%
D) 75%
Question 10:
The African Reinsurance Corporation’s investment portfolio decreased by 15% last year. If the portfolio was originally worth $2.5 billion, what is its value now?
A) $2.125 billion
B) $2.375 billion
C) $2.75 billion
D) $2.625 billion
VERBAL REASONING
Question 1:
Which of the following words is most similar in meaning to “tenacious”?
A) Flexible
B) Determined
C) Fragile
D) Indifferent
Question 2:
Choose the option that best completes the analogy: Insurance is to risk as a helmet is to _______.
A) Head
B) Speed
C) Vehicle
D) Safety
Question 3:
The African Reinsurance Corporation’s commitment to ethical business practices is evident through its _______ policies and transparent operations.
A) Opaque
B) Ambiguous
C) Dilapidated
D) Clear
Question 4:
Identify the correctly punctuated sentence:
A) The company plans to expand its operations into new markets in Africa, and Asia.
B) The company plans to expand its operations into new markets in Africa and Asia.
C) The company plans to expand its operations into new markets, in Africa and Asia.
D) The company plans to expand its operations into new markets, in Africa, and Asia.
Question 5:
If you have any questions about the African Reinsurance Corporation’s services, please don’t hesitate to _______ the customer service department.
A) Neglect
B) Avoid
C) Contact
D) Ignore
Question 6:
The African Reinsurance Corporation’s commitment to sustainability is evident in its efforts to reduce _______ impact and promote eco-friendly practices.
A) Financial
B) Environmental
C) Social
D) Political
Question 7:
Choose the option that is the opposite in meaning to the word “innovative”:
A) Creative
B) Traditional
C) Experimental
D) Inventive
Question 8:
The African Reinsurance Corporation’s annual report provides a comprehensive _______ of its financial performance and strategic initiatives.
A) Overview
B) Ignorance
C) Evaluation
D) Prediction
Question 9:
In the African Reinsurance Corporation, collaboration and teamwork are highly _______ values that contribute to the company’s success.
A) Overrated
B) Undervalued
C) Valued
D) Misunderstood
Question 10:
Which sentence is grammatically correct?
A) Me and my team attended the industry conference last week.
B) My team and me attended the industry conference last week.
C) My team and I attended the industry conference last week.
D) Me and my team attended the industry conference last week.
LOGICAL REASONING
Question 1:
If all risk assessors at the African Reinsurance Corporation have a background in finance or insurance, and Jane is a risk assessor at the corporation, which of the following statements must be true?
A) Jane has a background in finance or insurance.
B) Jane is the CEO of the corporation.
C) Jane is not qualified to be a risk assessor.
D) Jane is the only risk assessor at the corporation.
Question 2:
The African Reinsurance Corporation offers two types of policies: life insurance and property insurance. If every policyholder must have at least one of these policies, and John has both life and property insurance, which of the following can be concluded?
A) John is the CEO of the corporation.
B) John is a policyholder.
C) John is an employee at the corporation.
D) John only has life insurance.
Question 3:
The African Reinsurance Corporation’s board meeting is scheduled for the third Monday of every month. If the third Monday of this month is the 17th, which day will the board meeting be held?
A) 10th
B) 15th
C) 17th
D) 20th
Question 4:
African Reinsurance Corporation offers three levels of coverage: Basic, Standard, and Premium. The Premium package includes all the features of the Standard package, and the Standard package includes all the features of the Basic package. If a client purchases the Premium package, which of the following is true?
A) The client only gets the features of the Premium package.
B) The client gets the features of both the Standard and Basic packages.
C) The client gets only the features of the Basic package.
D) The client gets the features of neither package.
Question 5:
The African Reinsurance Corporation is known for its rapid claims processing. If it takes, on average, two business days for a claim to be processed, which of the following claims is most likely to be processed on a Thursday?
A) A claim filed on Monday.
B) A claim filed on Wednesday.
C) A claim filed on Friday.
D) A claim filed on Saturday.
Question 6:
In the past year, the African Reinsurance Corporation donated a portion of its profits to three charities: Education Foundation, Health Initiative, and Environmental Fund. If the corporation donated a total of $500,000, and the Education Foundation received $250,000, how much did the Health Initiative and Environmental Fund receive in total?
A) $100,000
B) $150,000
C) $200,000
D) $250,000
Question 7:
The African Reinsurance Corporation’s annual conference is attended by insurance professionals from around the world. If no one without an invitation is allowed to attend the conference, which of the following individuals cannot attend?
A) An insurance professional with an invitation.
B) A non-insurance professional with an invitation.
C) A non-insurance professional without an invitation.
D) An insurance professional without an invitation.
Question 8:
The African Reinsurance Corporation has offices in five cities: Lagos, Nairobi, Johannesburg, Cairo, and Accra. If the office in Lagos was established before the one in Nairobi, but after the one in Cairo, which of the following is the correct order of establishment?
A) Cairo, Lagos, Nairobi
B) Lagos, Cairo, Nairobi
C) Nairobi, Lagos, Cairo
D) Cairo, Nairobi, Lagos
Question 9:
The African Reinsurance Corporation’s management team consists of the CEO, CFO, COO, and CMO. If the CFO is responsible for financial matters, who is most likely responsible for overseeing the corporation’s day-to-day operations?
A) CEO
B) COO
C) CMO
D) CFO
Question 10:
The African Reinsurance Corporation’s training program has three modules: Basics, Advanced, and Expert. If completion of the Advanced module is a prerequisite for the Expert module, which of the following sequences is possible?
A) Basics, Expert, Advanced
B) Basics, Advanced, Expert
C) Expert, Basics, Advanced
D) Expert, Advanced, Basics
