How to Study for a Banking Exam

Regulatory organizations give banking exams to various financial institutions on a semi-regular basis to ensure that these companies are following proper procedures and staying up-to-date with new protocol. These tests are done not only to protect individual customers, but also to identify any areas where specific banks may need help. Understanding how to study for a banking exam can help you pass it with flying colors.

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   Determine what banking information you will be required to know understand.
   

   • Most banking exams are not designed to require test takers to understand and be familiar with all processes and procedures of a bank, but rather to focus on one or two specific areas. Narrowing the scope of material with which you will need to become familiar--for example, taxation--can make studying for a banking exam much more manageable.
   • Many banking professionals become certified through the Financial Industry Regulatory Agency. This agency requires bankers to pass exams which focus on investment procedures and protocols. If you are interested in becoming "FINRA" certified, familiarizing yourself with these processes is essential.

   
   

   
   

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      Understand how the test will be organized.
      

      • No matter what banking subject matter you will be tested on, the organization of the test will be quite similar. Banking tests are typically divided into sections which evaluate your general awareness, reasoning, and objective skills.

      
      

      
      

      
      

      

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      Consider purchasing a study guide.
      

      • You may want to consider buying a study guide to aid in your test preparation once you have identified what material you will be tested on. Other employees at the financial institution where you work may be willing to sell you their study guide if they have already taken the particular exam.
      • If you are unable to find a study guide to buy or borrow from someone you know, you may be able to find one for sale on the Internet. In addition, colleges, universities, and other institutions of higher learning may sell study guides in their bookstore or provide them for use in the library.

      
      

      
      

      
      

      

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      Use good study habits.
      

      • Banking exams are not as challenging if you spread out the material you need to learn or review over several days. In contrast, trying to memorize large amounts of new material the night before a banking exam can be stressful and hamper your concentration and ability to do well on the test. Set aside at least 30 minutes each night for a week or two before the banking exam to prepare. Each night, review what you learned the day before, to further cement the information in your head.

      
      

      
      

      

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      Ask others to quiz you.
      

      • Work with others who have already taken and passed the same exam. Once you feel you have a solid grip on the material, ask them to sit down with you and quiz you on various topics.
      • Ask these individuals about what they recall when they took the banking exam. Determining what style of questions (short answer, oral, or multiple choice) are on the test can make a big difference when it comes to preparing for any test.

      
      

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         Keep a cool head.
         

         • For best results when studying for a banking exam, try to keep a cool head. Stressing or worrying about your success or failure will not be beneficial in the long run. Instead, focus on learning the required material as well as you possibly can.