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Financial Analyst Aptitude Test
Measuring Financial Analyst Aptitude
Standardization Details of the Financial Analyst Aptitude Test
1.Reliability: Cronbach’s Alpha
The reliability of a test measures the extent to which the variation in scores is due to true differences between people, or the characteristic being measured, or random measurement error. Reliability is generally assessed on the basis of internal consistency. The most common measure of internal consistency is Cronbach’s Alpha.
Cronbach's Alpha (J. Reynaldo A. Santos, 1999) determines the internal consistency or average correlation of items in a survey instrument to gauge its reliability. Alpha coefficient ranges in value from 0 to 1. The higher the score, the more reliable the generated scale is.
Test Name
Cronbach’s Alpha
Range
Financial Analyst Aptitude Test
0.92
Within Acceptable Range
Topic Name
Cronbach’s Alpha
Range
Numerical Ability
0.7
Within Acceptable Range
Logical and Analytical Skills
0.71
Within Acceptable Range
Organizing Ability
0.74
Within Acceptable Range
Problem Solving
0.7
Within Acceptable Range
Attention to Detail
In Process
N/A
Communication Skills
0.74
Within Acceptable Range
Ingenuity
0.71
Within Acceptable Range
Tough-mindedness
In Process
N/A
2.Validity:
Validity is the ability of a scale score to reflect what that scale is intended to measure. Kline’s (1993) definition is: 'A test is said to be valid if it measures what it claims to measure'.
Content Validity:
A test has content validity if it measures knowledge of the content domain of which it was designed to measure knowledge. Content Validity measures whether the test actually assesses the constructs it is designed for. It is a qualitative measure of validity. The
Financial Analyst Aptitude Test
has been assessed by our Subject Matter Experts, who have approved all the items in the test
3.Difficulty Level (ONLY FOR SKILL BASED QUESTIONS)
The proportion of students answering an item correctly indicates the difficulty level of the item. More the number of students who get the item right, less is the difficulty of the item. Optimally, an item will encourage a widespread distribution of scores if its difficulty index is approximately 0.5 (i.e. 50% of the students got it right). The table and graph below shows the percentage of questions of this test in different levels of difficulty.
Numerical Ability
Difficulty Level
%age of Questions
Most Difficult Questions
0
Difficult Questions
0
Medium Level Questions
63
Easy Questions
38
Very Easy Questions
0
Logical and Analytical Skills
Difficulty Level
%age of Questions
Most Difficult Questions
0
Difficult Questions
13
Medium Level Questions
75
Easy Questions
13
Very Easy Questions
0
Numerical Ability
Logical and Analytical Skills
4.Discrimination Index (ONLY FOR SKILL BASED QUESTIONS)
Discrimination Index measures the extent to which the given question discriminates among examinees in the ability measured by the question. Higher the value, more discrimination of the item is. A highly discriminating item indicates that the students who had high test scores got the item correct whereas students who had low test scores got the item incorrect. The value of the discrimination index can range from -1.00 to +1.00. The table and graph below shows the percentage of questions of this test in different range of discrimination.
Numerical Ability
Discrimination Index
%age of Questions
Validated Item
100
Fairly Good Item
0
Poor Item
0
To be deleted/replaced
0
Logical and Analytical Skills
Discrimination Index
%age of Questions
Validated Item
100
Fairly Good Item
0
Poor Item
0
To be deleted/replaced
0
Numerical Ability
Logical and Analytical Skills