Free Crossover MFB Aptitude Test Past Questions And Answers PDF Download
Securing a job at a reputable financial institution like Crossover Microfinance Bank (MFB) is a goal that many aspiring professionals strive for. With its commitment to excellence and innovation, Crossover MFB has established itself as a leader in the financial services sector. As part of their rigorous recruitment process, Crossover MFB administers an aptitude test to evaluate candidates’ skills, knowledge, and aptitude for the role. In this blog post, we will delve into the importance of the Crossover MFB aptitude test, its structure, and how you can excel by utilizing past questions and answers as a valuable preparation resource.
Understanding the Crossover MFB Aptitude Test:
The Free Crossover MFB aptitude test is a crucial component of the bank’s recruitment process. It serves as a tool to assess candidates’ cognitive abilities, problem-solving skills, critical thinking, and numerical proficiency. The test is designed to gauge your potential to succeed in the dynamic and fast-paced world of finance.
The Structure of the Crossover MFB Aptitude Test:
The aptitude test Free Crossover MFB test comprises several sections, each focusing on different skill sets essential for a successful career in finance. While the exact structure may vary over time, the test generally covers the following areas:
Numerical Reasoning: This section assesses your ability to interpret and analyze numerical data. Expect questions that involve ratios, percentages, graphs, and mathematical calculations.
Verbal Reasoning: Your language skills and comprehension are evaluated in this section. You may encounter passages to read and questions to answer that test your understanding and inference abilities.
Critical Thinking: This section measures your logical reasoning and analytical skills. You’ll be presented with scenarios or arguments and asked to draw conclusions or make judgments.
The Advantage of Crossover MFB Aptitude Test Past Questions and Answers:
Preparation is key to performing well in any aptitude test, and the Free Crossover MFB test is no exception. One of the most effective ways to prepare is by utilizing past questions and answers. Here’s how you can benefit from this approach:
Familiarity with Test Format: Past questions provide insight into the test’s structure, question types, and level of difficulty. Familiarizing yourself with the format helps reduce test anxiety and boosts your confidence.
Content Review: Going through past questions allows you to review and reinforce your knowledge in the areas covered by the test. This is particularly helpful for brushing up on mathematical concepts, finance terminology, and critical thinking techniques.
Time Management: Practicing with past questions helps you become more efficient in managing your time during the actual test. You’ll learn to allocate appropriate time to each section, preventing you from getting stuck on challenging questions.
Strategy Development: As you work through past questions, you’ll develop effective strategies for tackling different question types. This strategic approach enhances your problem-solving skills and increases your chances of accurate answers.
Free Crossover MFB Sample Questions and Answers.
LOGICAL REASONING
A microfinance bank provided loans to 50 small businesses. If 30% of the businesses paid back their loans on time, how many businesses did not pay on time?
A) 15
B) 10
C) 20
D) 25
Answer: B) 10
Question 2:
If the interest rate for a microloan is 8% per annum, how much interest would a borrower need to pay on a ₦10,000 loan after one year?
A) ₦800
B) ₦1,000
C) ₦820
D) ₦880
Answer: A) ₦800
Question 3:
A microfinance bank has ₦100,000 to distribute as loans. If each loan is ₦5,000, how many loans can the bank distribute?
A) 20
B) 15
C) 25
D) 10
Answer: A) 20
Question 4:
If the loan repayment period is 6 months, how many months are there in a year without considering leap years?
A) 12
B) 6
C) 9
D) 18
Answer: A) 12
Question 5:
A microfinance bank has three loan officers: Alex, Brooke, and Chris. If Alex approves 20% of the loans, Brooke approves 30%, and Chris approves the rest, what percentage of loans does Chris approve?
A) 40%
B) 50%
C) 30%
D) 25%
Answer: B) 50%
Question 6:
If a borrower’s monthly income is ₦20,000 and they are allowed to borrow up to 5 times their monthly income, what is the maximum amount they can borrow?
A) ₦10,000
B) ₦100,000
C) ₦5,000
D) ₦50,000
Answer: B) ₦100,000
Question 7:
A microfinance bank’s portfolio consists of 60% agricultural loans, 30% business loans, and the rest are personal loans. What percentage of loans are personal loans?
A) 10%
B) 20%
C) 40%
D) 25%
Answer: A) 10%
Question 8:
If a borrower repays ₦1,500 per month towards a ₦10,000 loan, how many months will it take to fully repay the loan?
A) 5 months
B) 7 months
C) 8 months
D) 6 months
Answer: B) 7 months
Question 9:
The microfinance bank’s assets are ₦500,000 and its liabilities are ₦200,000. What is the bank’s net worth?
A) ₦300,000
B) ₦700,000
C) ₦200,000
D) ₦100,000
Answer: A) ₦300,000
Question 10:
If a borrower takes a loan of ₦15,000 and agrees to an interest rate of 12% per annum, how much interest would they need to pay after one year?
A) ₦1,500
B) ₦1,800
C) ₦2,000
D) ₦1,200
Answer: D) ₦1,800
NUMERICAL REASONING
Question 1:
If a microfinance bank has 500 loan applications and approves 75% of them, how many applications are approved?
A) 375
B) 400
C) 425
D) 450
Answer: A) 375
Question 2:
If a borrower receives a loan of ₦25,000 and the interest rate is 9% per annum, how much interest would they need to pay after one year?
A) ₦2,250
B) ₦2,500
C) ₦2,750
D) ₦3,000
Answer: A) ₦2,250
Question 3:
A microfinance bank has total assets of ₦1,200,000 and total liabilities of ₦800,000. What is the bank’s equity?
A) ₦200,000
B) ₦400,000
C) ₦600,000
D) ₦1,000,000
Answer: A) ₦200,000
Question 4:
If a borrower repays ₦1,800 every month towards a loan, how much would they have repaid after 10 months?
A) ₦18,000
B) ₦17,000
C) ₦19,000
D) ₦16,000
Answer: A) ₦18,000
Question 5:
A microfinance bank’s loan portfolio consists of 40% agricultural loans, 30% business loans, and the rest are personal loans. If the total loan portfolio is ₦500,000, how much is the personal loan portfolio?
A) ₦150,000
B) ₦100,000
C) ₦200,000
D) ₦250,000
Answer: A) ₦150,000
Question 6:
If a borrower’s monthly income is ₦30,000 and they are eligible for a loan of up to 6 times their monthly income, what is the maximum loan amount they can receive?
A) ₦150,000
B) ₦180,000
C) ₦210,000
D) ₦240,000
Answer: B) ₦180,000
Question 7:
A microfinance bank disburses loans with an average interest rate of 11.5% per annum. If a borrower takes a loan of ₦15,000, how much interest would they need to pay after one year?
A) ₦1,425
B) ₦1,725
C) ₦1,625
D) ₦1,525
Answer: A) ₦1,425
Question 8:
If a microfinance bank has a total of 200 active loans and 25% of them are overdue, how many loans are overdue?
A) 50
B) 40
C) 45
D) 55
Answer: B) 40
Question 9:
A microfinance bank has a total loan portfolio of ₦800,000. If 60% of the loans are repaid and 10% are written off as bad debt, how much remains in the loan portfolio?
A) ₦420,000
B) ₦460,000
C) ₦480,000
D) ₦520,000
Answer: B) ₦460,000
Question 10:
If a borrower’s monthly expenses are ₦12,000 and they earn ₦18,000 per month, what is their monthly disposable income?
A) ₦5,000
B) ₦6,000
C) ₦8,000
D) ₦7,000
Answer: D) ₦7,000
