Description
Crossover Microfinance Bank Aptitude Test Past Questions
This Crossover MFB Aptitude Test Past Questions study pack helps you to prepare for Crossover Microfinance Bank graduate trainee assessments. It helps you familiarize with the kind of questions you will face in the test using actual questions from previous exams.
Crossover MFB Aptitude Test Past Questions 2024 uses aptitude assessments as part of their multi-stage assessment procedures for the selection and development of staff. Research has shown that they are powerful predictors of performance at work. The test is usually conducted by the in-house recruitment department or out-sourced to recruitment companies like solid hire, mettl or workforce group.
General format for Crossover Microfinance Bank Aptitude Test:
The first stage of the test is conducted online, and covers areas like
- LOGICAL REASONING
- NUMERICAL REASONING
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
Some Frequently Asked Questions About Crossover Microfinance Assessment Test 2024
Q: Can I take the test on my phone?
A: We strongly advise against using your phone for the test. Using your phone can result in your test
being terminated when calls or SMS come in during the test as this can be considered suspicious
activities (see the question on suspicious activities for more details).
Q: Can I take the test more than once?
A: You are only allowed to take the test only once. If you take the test more than once, it is only your
score from the first attempt that will be recorded.
Q: Is the test timed?
A: Yes. All tests have a time duration in which they must be completed. Once the duration is
reached, the test will be terminated, and your score recorded and submitted.
Q: What if I mistakenly end the test before I am done?
A: Once a test is submitted or closed, it will be assumed that the test has been completed and
submitted.
Q: Would I be allowed to retake the test if my test automatically ended because of network or
internet issues?
A: No, you would not be allowed to retake the test. You are advised to make sure you have quality
internet service to avoid this.
Q: Would I be allowed to use the calculator on my system for the test for mathematical questions?
A: Opening another app on your device while taking the test is considered an unusual behaviour so
we advise you have a physical calculator for the test.
Q: My test just ended. I don’t know what happened. What should I do?
A: Your test can be terminated for several reasons – internet connection, suspicious behaviour, or test
time elapsed.
Please ensure you have good and reliable internet before starting the examination to prevent
termination due to poor internet connection.
If you perform five (5) suspicious activities, your test will be terminated. Every time a suspicious
activity is noticed, you will get a warning. By the fifth (5th) warning, your test will be terminated.
Q: What are suspicious activities?
A: Your test will be terminated if you perform five (5) suspicious activities. The following activities are
considered suspicious activities /unusual behaviour:
˗ Minimizing the browser.
˗ Resizing the browser.
˗ Opening a new tab.
˗ Opening a new program.
˗ Take a screenshot. (Desktop)
˗ Pressing Ctrl + C.
˗ Pressing Ctrl + V.
˗ Pressing Print Screen.
˗ Pressing F12.
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