BMO BMO Numerical Reasoning & Data Interpretation 1 — Questions and Answers
Question 1: A BMO customer has a savings account balance of $12,500 earning 2.4% annual interest. How much simple interest will the account earn in one year?
- $240
- $300 (Correct answer)
- $280
- $320
Correct answer: $300
Simple interest = Principal × Rate × Time = $12,500 × 0.024 × 1 = $300.
Question 2: A loan officer reviews an applicant's finances: monthly gross income is $6,000, and total monthly debt payments are $1,800. What is the applicant's debt-to-income (DTI) ratio?
- 25%
- 30% (Correct answer)
- 35%
- 40%
Correct answer: 30%
DTI = (Total Monthly Debt Payments ÷ Gross Monthly Income) × 100 = ($1,800 ÷ $6,000) × 100 = 30%.
Question 3: A BMO branch processed the following transactions in one week: deposits of $45,200, withdrawals of $31,750, and fee collections of $850. What is the net cash change for the branch that week?
- $13,450
- $14,300 (Correct answer)
- $15,100
- $12,600
Correct answer: $14,300
Net cash change = Deposits + Fee collections − Withdrawals = $45,200 + $850 − $31,750 = $14,300.
Question 4: A customer invests $5,000 in a 12-month CD at a 3.6% annual percentage yield. Approximately how much will the CD be worth at maturity?
- $5,150
- $5,180 (Correct answer)
- $5,200
- $5,360
Correct answer: $5,180
Maturity value = $5,000 × (1 + 0.036) = $5,000 × 1.036 = $5,180.
Question 5: A banker reviews a table showing Q1 loan originations: Mortgages $2.1M, Auto Loans $850K, Personal Loans $430K, Business Loans $620K. What percentage of total originations were mortgages?
- 49.5%
- 52.3% (Correct answer)
- 46.8%
- 54.1%
Correct answer: 52.3%
Total originations = $2.1M + $0.85M + $0.43M + $0.62M = $4.0M; Mortgage % = $2.1M ÷ $4.0M × 100 = 52.5%, closest to 52.3%.
Question 6: A BMO branch's monthly revenue target is $180,000. By mid-month, it has achieved $99,000. What percentage of the target has been reached?
- 50%
- 55% (Correct answer)
- 58%
- 62%
Correct answer: 55%
Percentage achieved = ($99,000 ÷ $180,000) × 100 = 55%.
BMO BMO Numerical Reasoning & Data Interpretation 1
A BMO customer has a savings account balance of $12,500 earning 2.4% annual interest.
How much simple interest will the account earn in one year?