“170”, Aptitude Test Questions and Answers
for Tutorial Assistant in Banking & Finance – IFM.
ABSTRACT
This
document contains 170 multiple-choice questions and answers for candidates
preparing for the Tutorial Assistant (Banking & Finance IFM) public service
test in Tanzania. It covers academic support, research, banking and finance
principles, international finance, and ethics, with each question including
horizontal options, correct answers, and rationales. The set uses
Tanzania-relevant scenarios and theory application to ensure comprehensive exam
preparation.
Prepared
by: Bankers
Compiled
by Johnson Yesaya Mgelwa
A
lawyer based in Dar-es-salaam.
0628729934.
Date:
April 1, 2025
Dear
applicants,
This collection of questions and answers
has been carefully prepared to help all of you to understand the key areas
tested during the interview. The goal is to provide a useful, and practical
study guide so you can all perform confidently and fairly in the selection
process. I wish you the best of luck, and may this resource support you in
achieving success!
Warm
regards,
Johnson
Yesaya Mgelwa
For Personal Use by Applicants Preparing
for Tutorial Assistant in Banking & Finance – IFM Interview.
ALL QUESTIONS COMPILED TOGETHER.
1. Which of the following best defines the role of a tutorial
assistant at IFM?
A. Conducting tutorials, seminars, and some independent research | B. Managing
administrative tasks and filing records | C. Supervising only postgraduate
projects without teaching | D. Handling finance operations and payroll
Answer: A
Rationale: A tutorial assistant’s main role is to
support academic staff by conducting tutorials and seminars, assisting in
teaching and research, preparing case studies, and supervising student projects
under guidance. Unlike administrative officers or accountants, the focus is on
teaching support and academic engagement.
2. Which accounting concept ensures that transactions are
recorded when they occur rather than when cash is exchanged?
A. Consistency principle | B. Accrual principle | C. Prudence principle | D.
Materiality principle
Answer: B
Rationale: The accrual principle requires recording
income and expenses in the period they are incurred, not when cash is received
or paid. This provides a more accurate financial position. Consistency relates
to applying methods consistently, prudence involves caution, and materiality
deals with significance of items.
3. In research methodology, what is the main purpose of a
literature review?
A. To summarize classroom notes | B. To identify gaps in existing studies | C.
To describe personal opinions | D. To replace primary data collection
Answer: B
Rationale: A literature review critically evaluates
existing research to identify gaps and justify the need for the new study. It
doesn’t replace primary data collection but strengthens the research rationale.
It also avoids reliance on personal opinions and ensures the research builds on
existing knowledge.
4. Which of the following financial ratios primarily measures a
company’s short-term liquidity?
A. Debt to equity ratio | B. Current ratio | C. Return on equity | D. Net
profit margin
Answer: B
Rationale: The current ratio compares current assets
to current liabilities, showing the ability to meet short-term obligations.
Debt to equity measures leverage, ROE measures profitability from shareholders’
equity, and net profit margin measures profitability relative to sales.
5. A good case study used in a tutorial session should be:
A. Short, vague, and lacking details | B. Detailed, realistic, and
problem-oriented | C. Randomly selected without objectives | D. Based only on
personal experience of the instructor
Answer: B
Rationale: A useful case study is detailed,
realistic, and focused on a specific problem to stimulate critical thinking and
analysis. Random or vague cases cannot meet learning objectives, while personal
stories may lack academic rigor.
6. Which of the following is the main objective of supervision
in student projects?
A. Ensuring students copy previous reports | B. Guiding students in research
and academic standards | C. Preparing payroll reports for projects | D.
Preventing students from accessing library resources
Answer: B
Rationale: Supervision aims to mentor students in
research methodology, academic integrity, and presentation of findings. It is
not about payroll or restrictions but about academic development and guidance.
7. Which monetary policy tool directly influences the money
supply in Tanzania?
A. Taxation policies | B. Open market operations | C. Minimum wage regulation |
D. Price control measures
Answer: B
Rationale: Open market operations (buying and
selling government securities) are a key monetary policy tool that influences
liquidity in the banking system. Taxation and wage regulation are fiscal or
labor policies, while price control is regulatory, not monetary policy.
8. Which of the following completes the sequence: 2, 4, 8, 16, ?
A. 18 | B. 24 | C. 32 | D. 64
Answer: C
Rationale: The sequence doubles each time: 2 → 4 → 8
→ 16 → 32. Therefore, the next number is 32. Option D (64) would follow after
32.
9. Which financial statement shows the financial position of a
company at a specific point in time?
A. Income statement | B. Balance sheet | C. Cash flow statement | D. Statement
of changes in equity
Answer: B
Rationale: The balance sheet shows assets,
liabilities, and equity at a specific date, representing the financial
position. The income statement covers performance over a period, cash flow
shows inflows and outflows, and changes in equity show equity movement.
10. What is the major advantage of group discussions in
tutorials?
A. They eliminate the need for lecturers | B. They replace examinations | C.
They allow students to avoid reading |D.
They encourage participation and knowledge sharing
Answer: D
Rationale: Group discussions in tutorials enhance
participation, critical thinking, and peer learning. They do not replace
lecturers or exams but complement them by deepening understanding through
active engagement.
11. Which international financial institution primarily supports
global monetary cooperation and exchange rate stability?
A. World Bank | B. African Development Bank | C. International Monetary Fund |
D. World Trade Organization
Answer: C
Rationale: The IMF focuses on monetary cooperation,
exchange rate stability, and balance of payments support. The World Bank
focuses on development projects, AfDB on regional development, and WTO on trade
rules.
12. Which of the following is an example of qualitative research?
A. Survey with 200 respondents’ income data | B. Interview with students about
learning experiences | C. Regression analysis of financial ratios | D.
Statistical test on sample data
Answer: B
Rationale: Qualitative research explores
experiences, opinions, and meanings, such as interviews. Surveys, regression,
and statistical tests are quantitative because they involve numbers and
measurable data.
13. Which principle of teaching emphasizes linking new knowledge
with learners’ prior experiences?
A. Principle of correlation | B. Principle of motivation | C. Principle of
isolation | D. Principle of authority
Answer: A
Rationale: The principle of correlation ensures that
teaching connects with learners’ prior experiences, enhancing retention.
Motivation stimulates interest, isolation means teaching without context, and
authority emphasizes control rather than learning.
14. Which of the following is NOT a function of the Bank of
Tanzania?
A. Issuing currency | B. Regulating monetary policy | C. Supervising commercial
banks | D. Imposing income tax
Answer: D
Rationale: The Bank of Tanzania issues currency,
regulates monetary policy, and supervises financial institutions. Tax
collection is under the Tanzania Revenue Authority (TRA), not BOT.
15. When preparing research instruments, which step is most
crucial to ensure validity?
A. Testing the instrument with a pilot study | B. Printing the instrument in
large quantity | C. Distributing it without review | D. Skipping pre-testing to
save time
Answer: A
Rationale: Pilot studies test the instrument on a
small sample to identify flaws, ensuring reliability and validity. Printing or
skipping pre-tests without review compromises data quality.
16. In corporate finance, the cost of equity is best estimated
using which model?
A. Capital Asset Pricing Model (CAPM) | B. Dividend Discount Model (DDM) | C.
Payback period method | D. Accounting rate of return
Answer: A
Rationale: CAPM estimates the cost of equity by
considering risk-free rate, beta, and market premium. DDM is sometimes used,
but CAPM is the standard. Payback and ARR are investment appraisal methods, not
cost of equity models.
17. Which of the following is an example of plagiarism in student
projects?
A. Properly citing a reference in the report | B. Copying text without
acknowledgment | C. Paraphrasing with citation | D. Using original findings
from fieldwork
Answer: B
Rationale: Copying text without acknowledgment is
plagiarism. Proper citation and paraphrasing with citation are acceptable.
Original findings are authentic contributions, not plagiarism.
18. Which body is responsible for coordinating higher education
quality assurance in Tanzania?
A. NACTVET | B. TCU | C. NECTA | D. MoFP
Answer: B
Rationale: The Tanzania Commission for Universities
(TCU) oversees quality assurance in universities and higher learning
institutions. NACTVET deals with technical/vocational training, NECTA with
secondary exams, and MoFP is the Ministry of Finance and Planning.
19. Which of the following is a key feature of effective seminar
facilitation?
A. One-way lecture by facilitator | B. Reading slides word for word | C. Active
student engagement and discussion | D. Avoiding student questions
Answer: C
Rationale: Effective seminars involve interactive
discussions and active student engagement. One-way lectures and avoiding
questions make seminars ineffective, while reading slides limits learning.
20. Which financial statement explains the movement of cash
within an organization?
A. Income statement | B. Balance sheet | C. Cash flow statement | D. Trial
balance
Answer: C
Rationale: The cash flow statement records cash inflows and outflows from operations, investing, and financing. The income statement shows profitability, balance sheet shows position, and trial balance is a checking tool.
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