About FAA
Financial Acumen Assessment (FAA) is a test designed to evaluate the suitability of candidates for FFOI's flagship MBA in Finance program as well as for FFOI powered MBA programs. This test is specially designed to gauge a candidate's foundational understanding of financial concepts and their aptitude for a career in Finance. This assessment helps identify individuals who possess the fundamental skills necessary to succeed in an MBA in Finance program. It is an essential step in our admission process, ensuring that we select candidates who have the potential to thrive in a challenging and dynamic learning environment.
Key Features of the FAA:
1. Duration and Structure: The test comprises 30 questions, with a total test duration of 30 minutes.
2. Question Format: The questions cover a range of basic concepts related to the fundamentals of economics and finance. This ensures a holistic assessment of a candidate's financial acumen without requiring in-depth prior knowledge. Use of calculator is allowed while solving numerical based questions.
3. No Negative Marking: To encourage candidates to attempt all questions and to minimize test anxiety, there is no penalty for incorrect answers. This allows candidates to demonstrate their problem-solving skills and critical thinking abilities more freely.
4. No Prior Preparation Needed: As the assessment is designed to measure inherent financial aptitude, it does not require any specific preparation or background knowledge, making it accessible to candidates from diverse academic and professional backgrounds.
FAA Scholarships
Performance in FAA is used as one of the parameters to grant scholarship for exceptional students. Students will be eligible for upto 100% scholarship* on the tuition fees of top MBA programs in Mumbai/Pune based on their test performance.
* Management reserves the right to decide on the grant of scholarships and all decision taken by them will be deemed as final.
