Many of you might have seen the notification for CAT 2011 in newspapers last week. The registration for the entrance exams to secure admission in the IIMs and other top b-schools of India begins next Wednesday. Tests start on 22nd October and there is not much time left, but don’t panic, Faking News is here to help you understand some of the basic concepts you need to crack CAT.
CAT tests you on Quantitative and Verbal abilities, for which you need to have some basic but sound knowledge of Mathematics and English language.
Also, since you would be studying business management, a little idea about often repeated economic and financial terms will prove to be helpful.
For example, if you wonder what is “inventory” or “WIP (work in progress)”, take a look at the following self-explanatory diagram:
That was inventory management by the CBI working under Supreme Court directives.
Another economic term that you might have heard is “depreciation” or “amortization”. That’s also not too difficult to understand:
But business is not about depreciation, it’s also about growth and returns on your investment i.e. RoI. Not sure how “RoI” is calculated? It’s a simple ratio actually:
One of the often used tools by managers, apart from Excel sheet and PowerPoint presentations, are “Venn Diagrams”. These diagrams could also come in the CAT paper in aimed at testing your Data Interpretation skills. But trust us, Venn Diagrams are not so tough to understand:
And yeah, CAT is not all about Mathematics and business glossary, you also need to have a good grasp over English language. Not only you should be able to read the lines in English, but you should also be able to read between the lines to prove your Reading Comprehension skills. Let’s see if you can get the right option below: