Junior Executive Accounts SPS – 7 Test Preparation

This Article will help you for Test Preparation for Junior Executive Accounts SPS – 7 Posts in Pakistan Atomic Energy Commission ( PAEC). Such Posts are considered as Officers Positions with attractive salaries and other facilities including medical , house allowances etc. The selection process is very tough and purely on merit basis.

The first step is to shortlisted candidates according to required qualifications for written tests. Candidates who fulfilled the criteria will receive a call letter for a written test. Candidates should appear for the written tests according to schedule as per the call letter. Candidates who secure the highest marks and fulfill the merit set by the Selection Committee will be shortlisted and invited for an interview.

The Second step is Interview. Candidates will appear in front of the Interview panel arranged by higher authorities of PAEC. In the interview different questions and topics discussed with the candidate. Candidates who clear the interview will call for Medical and security clearance.

Third Step is Medical and security clearance for selected candidates.

Here we can say that first step of this ladder is written test and it is very important to pass the test with good marks. This test consists of subject related questions and other topics including General Knowledge , IQ questions , Pakistan studies , Islamic studies and English.

Weightage of Written Test

80 % of written tests will consist of Subject questions including accounting, finance, and management. 20 % of tests will include General knowledge, IQ, Pakistan and Islamic studies, and English. Questions belong to subjects related include theoretical questions as well as numerical. There are maybe a total of 50 or 60 questions and each question carry 3 marks. While there are negative markings also there if you choose the wrong option 1 marks will be deducted.

Accounting and Finance Topics Which Need to Cover

We know that accounting and finance is a wide field and it is difficult to cover the all areas for test preparation. Here we will mention some core topics which candidates must need to cover for good result.

• Cost Accounting
• Risk and Return Topics
• Depreciation
• Financial Ratios
• Net present and Future Value Topics
• Inventory
• Concept of fixed Assets , Liabilities and Equity
• Accounting Equation and Double Entries
• Bonds and Coupon value topics
• Future , Forward , SWAP , Call option and Put Options topics.

Sample of Most recent Written Test for Junior Executive SPS – 7

Q . 1 Debt Due within One year is Considered as

a. Current b. Preferred c. Long Term d. Option a & b

Q . 2 The Collection of all business transactions sorted by Accounts in a accounting system is called

a. Journal b. Ledger c. General ledger d. Journal ledger

Q . 3 Which of the following items would most likely be classified as Operating Activity

a. Issuance of debt b. Acquisition of competitor c. Sale of automobiles by an automobile dealer d. all of above

Q . 4 A group of individuals from a new company with an investment of 500k. The most likely effect of this transaction on the company’s accounting equation at the time of the formation is an increase in cash and

a. An increase in revenue b. An increase in Liabilities c. An increase in Contributed Capital d. Non of these

Q . 5 Which of the following mechanism is least likely to discourage management manipulation of earnings

a. Debt Covenants

b. Securities Regulator

c. Class Action lawsuits

d. Option a & c

Q . 6 High earnings quality is most likely to

a. result in study earning growth

b. improve the ability to predict future earnings

c. be based on conservative account in choices

d. Option a & c

Q . 7 Cash collected from the customer is is likely to differ from sales due to change in

a. Inventory

b. Deffered Revenue

c. Accounts Receivable

d. EOQ

Q . 8 Which of the following obligations must be reported on a company balance sheet

a. Capital leases

b. Operating leases

c. Purchases Commitments

d. Non of these

Q. 9 Assume that the interest rate on 1 – year security is currently 4% and the rate on a 2nd – year treasury security is 5%  assume also that the pure expectation theory is correct to the closest whole percent what is a reasonable forecast of the rate on 1 – year treasury securities next year

a. 5 %

b. 5.5%

c. 6 %

d. 6.5%

Q . 10 Great energy is a public limited company.  the perpetual dividend is 4.5 %.  Par value of the preferred stock is 100 and the returned rate of return on the stock is 5.6 %.  estimate the value of stock

a. 80.36

b. 90

c. 100

d. 110

Such type of questions given above as sample are in Written test. Prepare yourself according to these questions and topics of finance described above.