Description
Overview of the Dragnet Finance & Accounting Skill Test
The Dragnet Finance & Accounting Skill Test is a specialized aptitude exam developed by Dragnet Solutions Ltd, a top recruitment and assessment provider in Nigeria. This test is designed to evaluate candidates pursuing roles in accounting, finance, auditing, and related disciplines across sectors such as banking, corporate finance, and financial services.
What the Test Covers
The test assesses the key abilities required to perform effectively in financial roles. Core areas evaluated include:
-
Numeric Reasoning
Assesses your ability to analyze financial data, solve mathematical problems, and make calculations related to budgeting, forecasting, and accounting tasks. -
Verbal Reasoning
Evaluates your understanding of financial terminology, reports, and your ability to communicate financial concepts clearly in written and spoken form. -
Abstract Reasoning
Measures your ability to think critically and logically when analyzing financial trends, spotting inconsistencies, and solving complex accounting issues. -
Role-Specific
Tests your knowledge of accounting principles, financial regulations, bookkeeping, auditing processes, and your ability to handle financial reports and statements accurately.
Who Should Take This Test?
This test is typically taken by individuals applying for:
- Finance or accounting graduate trainee programs
- Entry-level roles in banking and corporate finance
- Internships or junior roles in auditing and taxation
- Analyst or associate positions in financial institutions
- Finance roles requiring strong analytical and numerical reasoning
It’s commonly used by employers to screen candidates during bulk recruitment exercises or structured graduate assessments.
What’s Included in This Study Pack
This updated Finance & Accounting Skill Test Practice Pack is tailored to help you prepare effectively with realistic questions and complete solutions.
Inside the Pack:
- 250+ past questions and answers, based on actual test formats
- Covers numerical reasoning, accounting, financial analysis, and economic principles
- Aligned with 2024/2025 Dragnet test standards
- Delivered in a PDF format for convenient access and offline study
Sample Questions
1. Numerical Reasoning
A product that cost ₦10,000 is sold at a 20% markup. What is the selling price?
a) ₦11,000
b) ₦12,000
c) ₦13,000
d) ₦14,000
Correct Answer: b)
Explanation: 20% of 10,000 = 2,000; Selling Price = 10,000 + 2,000 = 12,000
2. Accounting Principles
Which of these is a liability?
a) Prepaid rent
b) Retained earnings
c) Accounts payable
d) Inventory
Correct Answer: c)
Explanation: Accounts payable represents money owed to creditors.
3. Financial Reporting
Which item appears in a company’s income statement?
a) Office Equipment
b) Net Profit
c) Accounts Receivable
d) Bank Loan
Correct Answer: b)
Explanation: Net profit summarizes revenues minus expenses over a period.
4. Cash Flow Analysis
Which of the following would be included in cash flow from investing activities?
a) Salary payment
b) Loan repayment
c) Purchase of machinery
d) Rent paid
Correct Answer: c)
Explanation: Investing activities include asset purchases and disposals.
5. Financial Ratios
Which ratio best measures a company’s short-term liquidity?
a) Return on Equity
b) Current Ratio
c) Debt to Equity Ratio
d) Inventory Turnover
Correct Answer: b)
Explanation: Current ratio = current assets / current liabilities.
6. Ethics in Finance
Which of the following is a violation of the ethical principle of integrity?
a) Estimating depreciation using a standard method
b) Disclosing financial risks in annual reports
c) Deliberately hiding liabilities from financial statements
d) Applying double-entry bookkeeping
Correct Answer: c)
Explanation: Concealing liabilities misrepresents financial health and breaches integrity.
7. Quantitative Reasoning
A company earns ₦240,000 profit from a ₦2,000,000 investment. What is the return on investment (ROI)?
a) 10%
b) 11%
c) 12%
d) 15%
Correct Answer: c)
Explanation: ROI = (240,000 ÷ 2,000,000) × 100 = 12%
8. Auditing & Controls
Which of the following is a red flag during a financial audit?
a) Timely financial reporting
b) Regular inventory reconciliation
c) Unexplained journal entries
d) Standardized accounting software
Correct Answer: c)
Explanation: Unexplained entries may indicate fraud or accounting errors.
9. Accounting Standards
The matching principle in accounting means:
a) Expenses must match income sources
b) Cash received must equal cash spent
c) Expenses should be recorded in the same period as the revenue they helped generate
d) Assets must match liabilities
Correct Answer: c)
Explanation: It ensures accurate representation of profitability.
10. Business Acumen
Which department is responsible for financial planning and analysis in most organizations?
a) IT Department
b) Legal Department
c) Finance Department
d) Procurement Unit
Correct Answer: c)
Explanation: The finance department handles budgeting, forecasting, and analysis.
Why This Pack Works
- Helps you get comfortable with the question style and difficulty
- Boosts your speed and accuracy through repeated practice
- Enables you to target your weak areas and refine your approach
- Builds confidence with real exam-like content
Best Suited For:
- Accountants, Finance Analysts, and Auditors
- Graduate applicants in finance-related fields
- Professionals pursuing banking, investment, or corporate finance careers
- Anyone preparing for Dragnet-administered financial aptitude tests
Start practicing with confidence. Access the Dragnet Finance & Accounting Skill Test Pack now and give yourself the competitive edge you need to succeed.
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