What is the Dragnet Finance & Accounting Skill Test?

The Dragnet Finance & Accounting Skill Test is an aptitude assessment developed by Dragnet Solutions Ltd, a leading provider of recruitment and psychometric testing services in Nigeria. This test is specifically designed for candidates applying for finance and accounting roles in various industries, including banking, corporate finance, auditing, and financial services.

What the Dragnet Finance & Accounting Skill Test Assesses:

This test evaluates the core competencies required for success in finance-related roles. The key components of the test include:

• Numerical reasoning: Graphs, Charts and Tables
• Verbal reasoning: Comprehension passages with true/false/cannot say options
• Abstract reasoning
• Technical based questions (Function specific test)

Who Takes This Test?

• Finance Graduates and Trainees
• Accounting Professionals and Interns
• Candidates Applying for Banking or Corporate Finance Roles
• Auditing and Taxation Professionals
• Graduate Trainees and Entry-Level Finance Positions

This test is widely used by companies in recruitment drives, graduate trainee programs, and internship selection for positions that require a strong foundation in finance and accounting.

Get Ahead with the Dragnet Finance & Accounting Skill Test Pack

Preparing for a Dragnet Finance & Accounting Skill Test? This Past Questions & Answers Pack is the perfect tool to help you study and improve your chances of success.

What’s Inside:

• Over 250 real past questions with detailed and accurate answers
• Includes topics such as numerical reasoning, accounting principles, financial management, and economic knowledge
• Designed to reflect the actual test format
• Fully updated for 2024/2025 test cycles

• Sample Questions

• 1. Numerical Reasoning

  A company earns ₦500,000 in revenue and spends ₦350,000 in expenses. What is its profit margin?

  a) 15%
  b) 25%
  c) 30%
  d) 40%

  Correct Answer: c)
  Explanation: Profit = 500,000 – 350,000 = 150,000; Profit margin = (150,000 / 500,000) × 100 = 30%

  2. Accounting Principles

  Which financial statement shows a company’s financial position at a specific point in time?

  a) Income Statement
  b) Trial Balance
  c) Cash Flow Statement
  d) Balance Sheet

  Correct Answer: d)
  Explanation: The balance sheet summarizes assets, liabilities, and equity at a particular date.

  3. Financial Reporting

  Which of the following is considered a current asset?

  a) Land
  b) Goodwill
  c) Accounts Receivable
  d) Equipment

  Correct Answer: c)
  Explanation: Accounts receivable is expected to be converted to cash within a year.

  4. Quantitative Reasoning

  If a company’s inventory turnover ratio is 5, what does it mean?

  a) The company sells all its inventory in 5 months
  b) The company purchases inventory every 5 days
  c) Inventory is sold and replaced 5 times a year
  d) Profit is made every 5 weeks

  Correct Answer: c)
  Explanation: Turnover ratio = number of times inventory is sold and replaced annually.

  5. Finance Terminology

  Which term refers to the cost of borrowing funds?

  a) Capital
  b) Principal
  c) Interest
  d) Depreciation

  Correct Answer: c)
  Explanation: Interest is the cost charged by lenders for the use of borrowed money.

  6. Analytical Skills

  If a company’s liabilities are ₦600,000 and equity is ₦400,000, what is its total asset value?

  a) ₦1,000,000
  b) ₦800,000
  c) ₦600,000
  d) ₦400,000

  Correct Answer: a)
  Explanation: Assets = Liabilities + Equity = 600,000 + 400,000 = 1,000,000

  7. Accounting Standards

  Under accrual accounting, revenue is recorded when:

  a) Cash is received
  b) A customer places an order
  c) The service is performed or goods delivered
  d) An invoice is sent

  Correct Answer: c)
  Explanation: Revenue is recognized when earned, not when cash is received.

  8. Numerical Reasoning

  A ₦200,000 loan attracts 12% simple interest annually. What is the total amount to repay after 2 years?

  a) ₦224,000
  b) ₦248,000
  c) ₦240,000
  d) ₦260,000

  Correct Answer: b)
  Explanation: Interest = 200,000 × 0.12 × 2 = 48,000; Total = 200,000 + 48,000 = 248,000

  9. Auditing & Controls

  Which of the following is an internal control in accounting?

  a) Annual tax audit
  b) Payroll reconciliation by the same person preparing timesheets
  c) Segregation of duties
  d) External audit report

  Correct Answer: c)
  Explanation: Segregation of duties reduces the risk of errors and fraud.

  10. Ethics in Finance

  Which of the following actions violates ethical accounting standards?

  a) Estimating bad debt
  b) Rounding figures to the nearest thousand
  c) Recognizing future revenue in the current period
  d) Accruing expenses

  Correct Answer: c)
  Explanation: Recognizing unearned revenue early is unethical and misleads stakeholders.

Why Choose This Pack?

• Get familiar with the test format and question styles
• Improve your problem-solving speed and accuracy
• Focus on key areas of financial and accounting knowledge
• Build confidence and reduce test anxiety by practicing with real questions

Perfect for:

• Finance Analysts, Accountants, and Auditors
• Graduate Trainees in finance and accounting roles
• Banking and Corporate Finance Job Seekers
• Entry-Level Financial Positions

Start your preparation today with the Dragnet Finance & Accounting Skill Test Past Questions Pack and ensure you’re fully equipped for the test!