European Investment Bank Test: Numerical & Verbal Assessment Preparation Guide
Last Updated on September 2, 2021
So, you’re thinking about working for the European Investment Bank (EIB)? At first, people can be hesitant to apply to positions at this prestigious financial institution because they are intimidated by the assessment centre process that stands between prospective employees and the coveted job offer.
While the idea of taking tests to gain employment can seem overwhelming, this process is made significantly easier when applicants put in the work to practise ahead of time. Not only can you familiarise yourself with the types of questions you’ll be asked in your assessment, but your confidence will grow and you will have a leg up when it comes to the other applicants you’ll be competing against.
With this in mind, let’s take a step back to discuss what the EIB is and what sorts of assessment questions will be asked as a part of the application process.
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What is the EIB?
The European Investment Bank (EIB) is a public institution created in 1958. The bank was founded after the Treaty of Rome as a way to achieve several goals set by the European Union (EU), including social cohesion and integration across the EU. Additionally, EIB funds green initiatives worldwide. Bank shareholders are EU member states.
Headquartered in Luxembourg, the bank employs more than three thousand people in more than fifty countries both inside and outside of the EU. From internships and summer jobs to Senior Quantitative Officers and Transaction Managers, the EIB attracts employees at all professional levels.
Why Must I Take a Test?
The EIB uses a rigorous screening process to determine which candidates will be successful in their role. Although your experience and references may indicate that you are a match for the job description, there is more information the bank would like to gather on their applicants before a final interview.
These tests determine an applicant’s ability to do mathematical calculations and engage their critical thinking abilities. Let’s get into what both the numerical and verbal assessment tests involve.
Obviously, based on its name, this test has to do with numbers. But what numbers? Many people can be intimidated by the idea of a maths test. Let’s discuss exactly what this test will cover.
What is the Numerical Assessment?
The numerical portion of the online assessment is designed to test an applicant’s level of education and quantitative reasoning skills. Test takers will be asked to read and interpret graphs, make comparisons among data sets, and utilise basic mathematical functions.
Let’s break down what this means. Essentially, you will be tested on your ability to understand the relationships between different numbers. You’ll need to be able to add, subtract, multiply and divide. You’ll need to know how to figure a percentage of a number, and perhaps subtract that percentage from the number to understand what a percentage loss means.
- What is 20% of 3 million?
- Which is larger: 10% of 3 million or 20% of 1 million?
- If a company loses 2% of its value, what is the new value of this business, if the original value was £10,000,000?
You’ll also be asked to read and interpret charts and tables showing various pieces of data and draw conclusions using this data. If the question asks you to, say, take into account a year, a business name, and a unit within this business to find the correct answer on a table, you will need to be able to hone in on that number and find out what it is using your quantitative reasoning skills.
Thankfully, the numerical reasoning assessment will not ask that you use complicated maths concepts such as trigonometry or calculus. The questions are geared towards actual situations a person working at EIB may encounter in the course of a business day.
While that doesn’t mean that the specific job you’re applying for will include these math skills as a job requirement, you will need to demonstrate a baseline skillset to be considered for any job at EIB. Remember that all questions for the numerical assessment are answered in multiple-choice format, and the test is timed.
How to Prepare for the Numerical Assessment?
We recommend that applicants spend time completing practice numerical assessments before they take the actual test. This accomplishes two things. Firstly, candidates become proficient at answering the questions on the practice tests, so that they can succeed in the actual assessment.
Secondly, applicants develop the confidence they need to dispel any last-minute test jitters and step into the numerical test knowing they can do well. Here is a great place to find practice tests to help you get comfortable and practice your quantitative skills.
Based on the name of this test, you may deduce that this assessment has to do with words. This is true! But what does it test for, and how can you ace it?
What is the Verbal Assessment?
A verbal assessment tests a candidate’s ability to use critical thinking and logic in answering a series of questions.
So, what does that mean? To start with, the purpose of the verbal assessment is to show that you can think through problems logically. The test attempts to determine whether you possess the thinking skills needed to succeed at EIB.
In order to demonstrate your reasoning ability, your answers will also require that you have reading comprehension skills. The specific test offered to EIB candidates asks that they read a paragraph and answer a question about the material discussed in the paragraph. This question will be answered in the form of True, False, or Cannot Say.
If a statement is found to be true, this means that it is either stated explicitly in the preceding paragraph, or it can be inferred given the information provided in the paragraph. A true statement is consistent with the paragraph that is provided by the assessment.
A false statement will either directly contradict the paragraph above, or make inferences that are seen to be impossible given what has been outlined in the paragraph. False statements are inconsistent with the paragraph being answered.
A question is correctly answered with “cannot say” so long as there is not enough information provided in the paragraph to answer the question as clearly true or false.
How to Prepare for the Verbal Assessment?
The best way to prepare is to practise answering verbal test questions. Here is a great place to obtain test questions for the verbal portion of the assessment.
Always remember that the key to acing the verbal assessment is to remain objective. Don’t bring outside information into the test. Simply answer true, false, or cannot say based on what is listed in the paragraph. You are being evaluated on your ability to glean and interpret information, rather than your own personal knowledge of facts outside of the test.
Some people find it helpful to look at the question at the end of the paragraph first before reading the paragraph. This can help test takers sift through potential irrelevancies and stay focused on exactly what information they need to obtain from the paragraph.
After you have taken a few practice tests, be sure to time yourself as you test to ensure you are able to walk into the final assessment knowing you can not only produce the reasoning skills that EIB is looking for, but that you are able to produce these skills in the allotted time frame.
EIB verbal assessment test-takers will answer 30 questions with a little more than 30 seconds to answer each question. Practice Makes Perfect with the Numerical and Verbal Assessment Tests at EIB. If there’s one takeaway from this entire article, it’s this: just practise!
There are plenty of materials available to help you practise for both the numerical and verbal assessment tests at the European Investment Bank. Don’t be intimidated by the idea of going to an assessment centre as part of a job interview process. Instead, take your future in your own hands and get down to business practising for these tests.
Getting enough practice is the best way to ensure you are confident and grounded when you take the assessments. Get the practice you need and go get the job that you want!
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