University of Wollongong (UOW): Bloomberg Aptitude Test Results

Since the Beginning of 2013 the University of Wollongong (UOW) has hosted a number of Bloomberg Aptitude Tests (BAT) on campus and one at Bloomberg's Sydney Headquarters. UOW students participation rates were initially low, however, now with increasing awareness of the BAT and the Bloomberg brand, the UOW Economics and Finance Society expects the continual growth of participation from students into the future. So far UOW has had 45 students sit the exam, with not only students from the business faculty, but also students from liberal arts, and science faculties.

The scores from UOW students so far are extremely encouraging, with the average score of UOW test takers being 552, which is well above the global average of 444. Not only was the average above the world, Asia Pacific, and Australia, but additionally, UOW had 4 Hall of Famers who achieved within the 99th percentile of test takers (2 in May 2013 and 2 in April 2014). Furthermore, Daniel Thomason achieved one of the highest scores ever recorded in the test with a score of 770.

This is a reflection of the quality of students at UOW, and particularly, the calibre of the UOW Economics and Finance Society members whom have made up a majority of test takers.

The BAT is a two-hour exam that assesses a student’s aptitude to work in financial services on a global, comparative level, and has been described as the 'GMAT for finance'. Online, employers can search for candidates by skillsets and then request a test taker’s resume from Bloomberg’s database. To date, more than 150,000 students at 3,500-plus universities have taken the BAT. The test measures knowledge in eight areas: math, analytical reasoning, charts analysis, news analysis, economics, global markets, analysis of financial statements, and investment banking.

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Breakdown of the specific sections

Students of UOW visit Bloomberg's Sydney office for a unique Insight Day

On the 22nd of April during the University mid session break, a group of the University of Wollongong's (UOW) students ventured from the south coast and surrounding areas to attend the Bloomberg Insight Day involving an Equities Masterclass, office tour and a chance to sit the Bloomberg Aptitude Test, at Bloomberg's Sydney office on the top two floors of 1 Bligh Street.

The Day began a networking lunch hosted at the Sydney Business School, which was organised by Adam Reich (the President of the UOW Economics and Finance Society). It gave the students participating in the Insight Day a chance to meet one another, and talk over a catered lunch, before heading over to the Blomberg office.

Upon arrival to the impressive building at 1 Bligh, the group was mesmerised by the glass elevators racing up and down the inside of the circular, transparent, futuristic-type tower. I overheard a student exclaim "it was the coolest building I have ever seen!" About a minute later, having not stepped foot into the office yet, another member of the group told me that the entire day was worth it for the elevator ride alone.


As we reached the office, the UOW students were greeted by Bloomberg Institute employee Melanie, who set everyone up for the equities masterclass. The class was run by a highly proficient Bloomberg Terminal professional, and member of the sales team, Regina. She showed the students about the functionality of the terminals, and it's intuitiveness. The day was specifically to teach students about how to do research and analysis for equity investment, and what to expect if they were required to research equities within the finance industry. It involved analysis of a David Jones on the ASX, which was an interesting stock to look at because it had recently been acquired by South African company Woolworths Holdings Limited, and had a big 22% movement with the news of the purchase.

We learnt about the function "DES" which showed a description of the stock, and it also showed us all the relevant financial ratios and data that would be relevant for an investment analysis. We were also able to compare the data against other equities, industries, and indexes. Furthermore, we discovered that we could pull that data from Bloomberg software, and instantly put it into excel as live data that would constantly update. It was an impressive tool, with an extremely extensive amount of data, and we had only scratched the surface.

The most important lesson from the day, was put to me by another student as we were on the train home. He noted that the day was valuable for him because, importantly, it showed him the relevance of all the theoretical learning from his finance degree at uni. He said, "it was all there in front of me, and I could see its relevance, and everything I had learned at uni - it all finally made sense!"

Myself, like the other students who attended the Insight Day, will walk away from this day having a valuable practical insight into what to expect from the industry. Furthermore, having had the opportunity, after the Equities Masterclass, to sit the Bloomberg Aptitude Test, I now have a better understanding of my strengths and weaknesses compared to my peers globally. I will walk away having better knowledge of where I should improve, as well as what areas of finance are most suited to my strengths.

The day was a success, and the students who attended, and that I talked to, all definitely agreed. I hope that the relationship with UOW and Bloomberg continues to build and prosper in the future, and that more students will be able to attain the invaluable educational experience that we had all experienced.

Thanks Bloomberg for allowing UOW EFSOC to set up the Insight Day!