Finastra Assessment Test Finastra Math Assessment 4 — Questions and Answers
Question 1: A bank processes 1,440 transactions per day. On average, how many transactions occur per hour?
- 60 (Correct answer)
- 100
- 120
- 144
Correct answer: 60
1,440 / 24 hours = 60 transactions per hour.
Question 2: An asset purchased for $50,000 depreciates at 10% straight-line over 5 years. What is its book value after 3 years?
- $25,000
- $35,000 (Correct answer)
- $30,000
- $20,000
Correct answer: $35,000
Annual depreciation = $5,000; after 3 years = 50,000 - (3 × 5,000) = $35,000.
Question 3: A fintech company's monthly active users grew from 240,000 to 312,000. By what percentage did users grow?
- 25%
- 28%
- 30% (Correct answer)
- 23%
Correct answer: 30%
Growth = (312,000 - 240,000) / 240,000 × 100 = 72,000 / 240,000 × 100 = 30%.
Question 4: A loan of $15,000 at 8% simple interest must be repaid in 18 months. What is the total repayment amount?
- $16,200
- $16,800 (Correct answer)
- $15,600
- $17,400
Correct answer: $16,800
Interest = 15,000 × 0.08 × 1.5 = $1,800; total repayment = $15,000 + $1,800 = $16,800.
Question 5: A portfolio contains stocks worth $60,000 and bonds worth $40,000. What percentage of the portfolio is in stocks?
- 40%
- 60% (Correct answer)
- 55%
- 65%
Correct answer: 60%
Stocks % = 60,000 / (60,000 + 40,000) × 100 = 60,000 / 100,000 × 100 = 60%.
Question 6: If a $500 bond pays $30 semi-annual interest, what is the annual coupon rate?
- 6%
- 3%
- 12% (Correct answer)
- 9%
Correct answer: 12%
Annual interest = $30 × 2 = $60; coupon rate = 60 / 500 × 100 = 12%.
Question 7: A bank employee earns a $4,200 quarterly bonus. What is the equivalent annual bonus?
- $12,600
- $16,800 (Correct answer)
- $8,400
- $50,400
Correct answer: $16,800
Annual bonus = $4,200 × 4 quarters = $16,800.
Finastra Assessment Test Finastra Math Assessment 4
A bank processes 1,440 transactions per day.
On average, how many transactions occur per hour?