Got your Morgan Stanley test invite? Try the tests below in the real format, then read what each one asks, how the tests are marked and what comes after.
Key facts
- When: A complete application includes the HireVue. Expect the test invite by email after it, with a deadline to finish: for the New York equity derivatives summit (summer 2027), Morgan Stanley sent eligible applicants an additional online assessment after the HireVue, due by a given deadline.2,4
- Which tests: A situational judgment test, answered as replies to messages from colleagues, sits beside a numerical reasoning test.8,9
- Situational judgment: A real-time message exchange with line managers, team members and others in management, where you pick how to reply. Aon puts its chat simulation at about 20 minutes to complete.9,4
- Numerical reasoning: Statements to judge true, false or cannot say against data sheets: 18 in 6 minutes. The test ends by itself at 6 minutes, and you are not expected to answer them all.8,5
- Deductive reasoning: Aon's switchChallenge has no set number of questions: a new one comes each time you finish one, they can get harder, and the test runs 6 minutes.7,4
- Marking: On Aon's timed tests, points are usually added for each right answer and taken off for each wrong one, so check before you answer rather than guessing.4
- Breaks: You do not have to take every test in one go and can rest between them, but once a test starts you cannot stop it.4
Each Aon test opens with untimed instructions and examples you can repeat, and its clock starts only when the real test does. Read Morgan Stanley's five core values once before the situational part.4,5,7,3
Try the tests
Morgan Stanley's four Aon parts as the app sets them, 4 messages or questions each, on the same screens as the app. Each one opens in its own window, with a report at the end.
Situational judgement simulation
Chat messages from two colleagues arrive while you work. Open each one, pick the reply you would send from three, and send it.
4 messages · untimed
Numerical reasoning
One Morgan Stanley datasheet behind five tabs: revenue, balance sheet, returns, loans and a revenue forecast. Judge each statement true, false or cannot say.
4 questions · 1:20
Verbal reasoning
One Morgan Stanley capital markets review behind six tabs: structure, financials, operations, people, locations and outlook. Judge each statement on the text alone.
4 questions · 1:20
Deductive reasoning
Work out the code that turns the top row of shapes into the bottom row, then lock it in with the padlock.
4 questions · 1:20
What the Morgan Stanley online assessment looks like
The invite
The HireVue comes first, as part of a complete application. Expect the test invite by email after it, with a deadline to finish. Aon tests can usually be taken in separate goes, with breaks between them, but each test runs without a pause once it starts, so start each one when you have a quiet stretch.2,4
Situational judgment
Messages arrive in a chat from your line manager, team members and others in management, as they would on a working day. For each one you pick the reply you would send. It reads your judgment in work situations, and your replies are weighed for how well they fit the way Morgan Stanley works: its five core values are do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back.9,8,4,3
Numerical reasoning
Several data sheets of tables and charts, each statement drawing on one of them. Judge it true, false or cannot say; only one answer is right. There are 18 statements and 6 minutes, and the test ends by itself when the time runs out. You can move between statements and change an answer. Have a calculator, pen and paper ready.8,5
Verbal reasoning
The same layout with written documents in place of figures. Each statement relates to one document, and you judge it on the text alone: true, false or cannot say. Aon advises working in order, though you can move between statements, and you are not expected to finish.6
Deductive reasoning
Aon's switchChallenge: a row of four shapes (the input) turns into a new order (the output), and you pick the code that makes the change. Each digit says which input position the shape in that slot came from. Harder questions chain two codes across rows. Questions keep coming for 6 minutes.7,4
After you submit
Aon writes a feedback report for each test, which the firm may share with you. By the time of the tests your HireVue is already in, as part of the application; those taken forward go on to a first round and a superday.4,2,10,11
The tests, as Aon builds them
- Situational judgment About 20 min
- Messages from colleagues in a chat; pick the reply you would send to each.
- Numerical reasoning 18 in 6 min
- Data sheets of tables and charts; 18 statements, true, false or cannot say.
- Verbal reasoning 18 in 6 min
- Written documents; statements judged true, false or cannot say. Aon's longer standard version is 49 statements in 12 minutes.
- Deductive reasoning 6 min
- switchChallenge: no set number of questions; pick the code that turns the input row into the output row, as many as you can.
Numerical runs 18 statements in 6 minutes. Intervyo sets verbal the same and switchChallenge at Aon's 6 minutes, and runs the chat without a clock. Each test's instructions screen gives the real figure before its clock starts.8,4,7
Before you start the tests
- A laptop or desktop on a stable connection, with an up-to-date browser and other tabs closed.
- For numerical: a calculator, pen and paper.
- Pen and paper for switchChallenge too, for two-row codes.
- Aon's practice tasks for numerical, verbal and switchChallenge.
- Morgan Stanley's five core values read once before the situational part.
- One test at a time: rest between tests, never inside one.
- Phone off and the door shut: a test cannot be stopped once it starts.
The sections, one by one
The situational part reads your judgment in work situations from the replies you choose. Aon's numerical and verbal tests read how you evaluate statements against figures and text, and switchChallenge how you apply rules to a logical problem in one or more steps.4,5,6,7
- Situational judgment: Messages from colleagues in a chat: pick the reply you would send.
- Numerical reasoning: Statements about tables and charts: true, false or cannot say.
- Verbal reasoning: Statements about written documents: true, false or cannot say.
- Deductive reasoning: Find the code that turns one row of shapes into another, as many times as you can.
Here is each test as it appears in Intervyo, built on Aon's screens: the chat of messages from colleagues, the numerical and verbal tests with true, false and cannot say, and the 6-minute switchChallenge stream. Every Aon test opens with instructions and examples you can repeat before its clock starts. Each block says what the test is checking and how to answer it well.4,5,6,7,9
1.Situational judgmentAbout 20 minutes
Messages come in from a manager, a teammate or someone elsewhere in the firm, and more conversations open as you go. For each message you open the replies, pick the one you would send and send it. In Intervyo each message has three replies, all reasonable, one the most effective, and a sent reply cannot be changed.9,8,4,3
What it measures: Judgment in everyday work situations: who to tell, what to do first, when to push back, and whether your choices fit how the firm works.
How to answer it well
- 1Read the whole message before the replies: who is asking, what they need and by when.
- 2Prefer the reply that solves the problem and keeps the right people informed over one that only passes it on.
- 3Where a client and a rule pull apart, the right reply keeps both: fix it properly, then tell the client honestly.
- 4Do not promise what is not yours to promise. Flag the issue to the person who owns it.
- 5Keep the five core values in mind: do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, give back.
- 6Answer as you would really act. Picking what sounds impressive makes your replies inconsistent.
Best guessBest guess: about 30 messages, the count Intervyo builds. Aon puts the chat at about 20 minutes to complete and gives no message count.
2.Numerical reasoning18 questions, 6 minutes
You get a set of data sheets: tables, charts and forecasts. They do not change during the test, and each statement draws on only one of them. You judge each statement true, false or cannot say, and you can change an answer. There are 18 statements and 6 minutes, about 20 seconds each, and the test ends by itself at 6 minutes. Have a calculator, pen and paper ready.8,5,4
What it measures: Finding the one sheet a statement depends on, reading the exact figure and unit, and working out growth rates and differences quickly.
How to answer it well
- 1Read the statement first and name the sheet it needs, then open only that sheet.
- 2Check the year, the unit and whether a figure is a total or one line before you calculate.
- 3For "grew by more than X%", work out the change over the starting figure, not the ending one.
- 4Round early to test the claim. Only work it exactly when your estimate sits close to the line.
- 5Answer cannot say only when the figure you need is on no sheet. A long sum is never cannot say.
- 6Points are usually taken off for wrong answers, so check before you answer rather than guessing.
3.Verbal reasoning18 questions, 6 minutes
The same layout with words instead of figures: several written documents split across tabs, each statement about one of them. You judge it on the text alone, true, false or cannot say, and only one answer is right. You can move between statements, and you are not expected to finish.6,4
What it measures: Reading closely under time pressure: telling what a document says, what it rules out and what it leaves open.
How to answer it well
- 1Pick the document from the statement's subject before you read anything else.
- 2True means the text says it or it follows directly. False means the text says the opposite or rules it out.
- 3Words like "every", "most", "also" and "only" decide most answers. Hold the statement to them.
- 4Do not fill gaps with what a bank would usually do. If the text does not settle it, the answer is cannot say.
- 5Points are usually taken off for wrong answers, so check before you answer rather than guessing.
Best guessBest guess: 18 statements in 6 minutes, the length Intervyo sets to match numerical. Aon's standard version is 49 in 12, so read your instructions screen for the real count and clock.
4.Deductive reasoningAs many as you can, 6 minutes
Each question shows an input row of four shapes, a code and an output row. You pick the code that turns the input into the output: 1-2-3-4 leaves the order as it was, and 1-3-2-4 swaps the middle two. Harder questions spread the code across two rows, where the first code's output becomes the second's input. There is no set number of questions, and they can get harder as you go.7,4
What it measures: Applying given rules to a logical problem in one or more steps, quickly and without slips.
How to answer it well
- 1Number the input shapes 1 to 4, then for each output slot write the number of the shape now sitting there.
- 2On a two-row question, work out the middle row on paper first, then check each code against it.
- 3Shapes that did not move give you digits for free. Fill those first.
- 4Use a wrong code to check yourself: it should put at least one shape in the wrong slot.
- 5Keep a steady pace, and check before you answer rather than guessing: a wrong answer usually costs points.
Best guessBest guess: switchChallenge, the deductive test Intervyo runs here. Your invite names your tests and the instructions screen gives the layout.
Example items and how to approach them
Situational judgment"Message from an associate on your deal team, 10:40 pm: "The client wants the pitch book by 8 am. I just noticed the revenue figure on page 6 does not match their latest filing, and the VP is on a flight. Can you just send it as it is?" Which reply would you send? (a) "Sure, sending now so we hit the deadline." (b) "I'll correct page 6 against the filing tonight, flag the change to the VP by email and send it before 8." (c) "Let's wait until the VP lands and ask the client for more time.""9,3
- 1Name what is at stake: an accurate book for the client, and the deadline.
- 2Find the reply that fixes the problem itself, not one that only passes it on or delays it.
- 3Check who needs to know, and whether the reply keeps them informed.
- 4Rule out any reply that knowingly sends something wrong to a client.
Tip: Written by Intervyo in the format of a chat message with three replies. Not a Morgan Stanley item. Two values meet here: do the right thing and put clients first.
Example answer, written by Intervyo (not a real candidate)
Written by Intervyo as an example. (b) is the most effective: the client gets a correct book on time and the VP hears about the change. (a) sends a figure you know is wrong, and (c) misses the deadline when the fix is in your hands.
Numerical reasoning"Data sheet: net new client assets, wealth management, in $ billions. Year 1: Americas 48, Europe 12, Asia 9. Year 2: Americas 54, Europe 15, Asia 8. Statement 1: "Total net new assets grew by more than 15% from Year 1 to Year 2." Statement 2: "Europe had the highest growth rate of the three regions." True, false or cannot say?"5
- 1Find the rows the statement names and add them up for each year.
- 2A growth rate is the change over the starting figure.
- 3Compare growth rates, not the size of each change in dollars.
- 4Answer cannot say only when the sheet is missing something you need.
Tip: Written by Intervyo in Aon's format: statements judged against one data sheet. Not a Morgan Stanley item. The Americas added the most dollars but did not grow fastest.
Example answer, written by Intervyo (not a real candidate)
Written by Intervyo as an example. Statement 1: Year 1 totals 69 and Year 2 totals 77, a rise of 8, or about 11.6%, so it is false. Statement 2: Europe grew 3 on 12, or 25%; the Americas 6 on 48, or 12.5%; Asia fell. Europe is highest, so it is true.
Verbal reasoning"Passage: "Every analyst who joins the research division completes compliance training within 30 days. Analysts who cover regulated utilities also complete a second module on rate cases. Most analysts in the division cover technology or healthcare." Statement 1: "An analyst covering regulated utilities completes at least two training modules." Statement 2: "No analyst in the division covers more than one sector." True, false or cannot say?"6
- 1Use only the passage. What you know about real research teams does not count.
- 2True: the passage says it, or it follows directly.
- 3False: the passage says the opposite, or rules it out.
- 4Cannot say: the passage does not settle it either way.
Tip: Written by Intervyo in Aon's format. Not a Morgan Stanley item. "Also" adds to what came before; "most" says nothing about the rest.
Example answer, written by Intervyo (not a real candidate)
Written by Intervyo as an example. Statement 1 is true: every analyst completes compliance training, and utilities analysts also complete a second module. Statement 2 is cannot say: the passage gives the sectors most analysts cover but never says whether anyone covers two.
Deductive reasoning"Input row: square, star, circle, triangle. Output row: triangle, circle, star, square. The code runs across two rows. Which pair of codes makes the change? (a) 2-1-4-3, then 3-4-1-2; (b) 1-2-4-3, then 3-4-1-2; (c) 2-1-4-3, then 4-3-1-2."7
- 1Number the input shapes 1 to 4 from the left.
- 2Apply the first code: each digit says which input position fills that slot. Write down the middle row.
- 3Apply the second code to the middle row the same way.
- 4Compare the result with the output, and test one wrong option to be sure.
Tip: Written by Intervyo in Aon's switchChallenge format, described in words. Not a Morgan Stanley item. The first code's output is the second code's input.
Example answer, written by Intervyo (not a real candidate)
Written by Intervyo as an example. With (a), 2-1-4-3 gives star, square, triangle, circle; then 3-4-1-2 gives triangle, circle, star, square, the output. (b) ends triangle, circle, square, star, and (c) ends circle, triangle, star, square, so (a) is right.
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How long to hear back after the online assessment
Aon writes a feedback report for each test, which the firm may share with you. The tests follow the HireVue, which is part of the application itself; those taken forward go on to a first round and a superday.4,2,10,11
Jan 2026 (summer 2027)
Investment banking summer analyst
The HireVue opened on the page as soon as the application went in, with 48 hours to finish it; first rounds then went out in batches, and superday invites and offers followed within the month.10
Mar 1, 2026 (summer 2027)
Equity derivatives summit, New York
Applications due Mar 1, each completed by a HireVue; eligible applicants were then sent an additional online assessment, due by its own deadline, ahead of an in-person summit on Apr 9 and 10.2
Whether you see Aon's report rests with the firm. Note how far you got in each test yourself, in case no report comes.4
Best guessExpect to hear within a few weeks of finishing the tests. If a month passes with nothing, check your portal, keep networking with the group you want and keep your other applications moving.
What happens after the online assessment
Online application
Resume, office and group rankings on the Morgan Stanley Campus board, reviewed on a rolling basis.1,2
HireVue video interview
Part of a complete application: in investment banking it opens as you submit, with 48 hours to finish.2,10
Online assessmentYou are here
This page. Situational judgment and reasoning tests online after the HireVue, due by a set deadline.2,8,9
First round
A phone or video interview, such as a one-to-one with a VP, sent out in batches.10,11
Superday
Several back-to-back interviews in one day; three in one recent account.11
Offer
Investment banking offers went out through January 2026 (summer 2027).10
Online assessment vs HireVue
The HireVue comes first, with the application; the tests follow it. The tests read your judgment and reasoning from your answers; the HireVue hears you explain yourself.
Format
A recorded video interview; one recent set had 5 questions, 3 behavioral and 2 technical or market.11
Timing
In investment banking it opens as you submit, with 48 hours to finish.10
FAQ
What tests are in the Morgan Stanley online assessment?
Expect a situational judgment test, answered as replies to messages from colleagues, beside a numerical reasoning test of 18 statements in 6 minutes. Intervyo's practice adds verbal reasoning and a deductive test in Aon's formats.9,8,4
How long are the Morgan Stanley tests?
Numerical runs 18 statements in 6 minutes. Aon's switchChallenge runs 6 minutes, as many as you can, and its chat simulation about 20 minutes. Intervyo sets verbal at 18 in 6 to match numerical; Aon's standard verbal is 49 in 12. Each instructions screen gives the real figure before the clock starts.8,4,7
How does the Morgan Stanley situational judgment test work?
As a real-time message exchange with line managers, team members and others in management: you pick how to reply to each message. Reply as you would really act, with the firm's five core values in mind: do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back.9,8,4,3
Can you go back to earlier questions in the numerical and verbal tests?
Yes. Aon's numerical and verbal tests let you move between statements, though Aon advises working in order, and you can change an answer. switchChallenge works differently: you answer, then a new question comes.5,6,8,7
How are the Morgan Stanley tests scored?
On Aon's timed tests, points are usually added for each right answer and taken off for each wrong one, and you are not expected to finish. So check before you answer rather than guessing.4,5
Does the online assessment come before or after the HireVue?
After. The HireVue is part of a complete application, and in investment banking it opens as soon as you submit. The tests follow it: for the New York equity derivatives summit (summer 2027), Morgan Stanley sent eligible applicants an additional online assessment after the HireVue, due by its own deadline.10,2
Can you pause the Morgan Stanley online assessment?
Between tests, usually yes; inside a test, no. Once a test starts it runs to the end of its clock, so take each one when you will not be interrupted.4
How can I practice for the Morgan Stanley online assessment?
Start with Aon's practice tasks for numerical, verbal and switchChallenge. Intervyo's Morgan Stanley practice runs as one Aon-style job simulation: messages from colleagues pile up while you work, and emails hand you the reasoning tests, which open inside it. switchChallenge is taken on its own, and you get one combined report at the end.4,5,6,7
Online assessment at other firms
Sources
Firm pages first, then dated candidate reports. Last checked Nov 12, 2026.
- 1Morgan Stanley Campus: 2027 Investment Banking Summer Analyst Program (United States)
- 2Morgan Stanley (AnitaB.org job board): 2027 Institutional Equity Derivatives Trading and Structuring Summer Analyst Program, In-Person Summit (New York)
- 3Morgan Stanley: Morgan Stanley Core Values
- 4Aon: Prepare for your Online Assessment
- 5Aon: Practice Tasks: Numerical Reasoning
- 6Aon: Practice Tasks: Verbal Reasoning
- 7Aon: Practice Tasks: Deductive Logical Reasoning (switchChallenge)
- 8AptitudePrep: Morgan Stanley Numerical Reasoning Test 2026 (Jan 2026) · prep site
- 9AptitudePrep: Morgan Stanley Situational Judgement Test (Jan 2026) · prep site
- 10Candidate discussion on a public forum: Morgan Stanley SA 27 (from Jan 2026)
- 11Candidate reports on a public forum: Morgan Stanley interview reviews (2025 to 2026)
Intervyo isn't affiliated with, endorsed by or sponsored by Morgan Stanley. Formats change between cycles and divisions, so always follow the instructions in your own invite.