Finastra Assessment Test Finastra Math Assessment 3

Question 1

A mortgage of $320,000 is paid off over 20 years with equal annual payments of $25,600. What total amount is paid?

Accepted Answer

$512,000

Answer

Total paid = 25,600 × 20 = $512,000.

Question 2

A bank charges a 2.5% origination fee on a $180,000 home loan. What is the fee?

Accepted Answer

$4,500

Answer

Fee = 0.025 × 180,000 = $4,500.

Question 3

A portfolio lost 20% of its value, then gained 25% the following year. What is the net percentage change from the original value?

Accepted Answer

5% gain

Answer

Net = 0.80 × 1.25 = 1.00, meaning exactly 0% net change — but the calculation gives 1.00 so the answer is 0% change.

Question 4

If quarterly revenue figures are $1.2M, $1.5M, $0.9M, and $1.8M, what is the average quarterly revenue?

Accepted Answer

$1.35M

Answer

Average = (1.2 + 1.5 + 0.9 + 1.8) / 4 = 5.4 / 4 = $1.35M.

Question 5

An analyst estimates that expenses will be $430,000 next year, which is 15% more than this year. What are this year's expenses?

Accepted Answer

$373,913

Answer

This year = 430,000 / 1.15 ≈ $373,913.

Finastra Assessment Test Practice Test