BMO BMO Numerical Reasoning & Data Interpretation 1

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?

Accepted Answer

$300

Answer

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?

Accepted Answer

30%

Answer

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?

Accepted Answer

$14,300

Answer

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?

Accepted Answer

$5,180

Answer

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?

Accepted Answer

52.3%

Answer

Total originations = $2.1M + $0.85M + $0.43M + $0.62M = $4.0M; Mortgage % = $2.1M ÷ $4.0M × 100 = 52.5%, closest to 52.3%.

(BMO) Bank of Montreal Assessment Practice Test

(BMO) Bank of Montreal Assessment Practice Test

BMO BMO Numerical Reasoning & Data Interpretation 1