Since we don't work on cattle market style job applications, I can only forecast what I think the question really means.
1: Can you write coherent English ?
I'd guess >25% of people will write something that is at least partly gibberish.
2: What do you read ?
As we say in the Guide, someone who quotes Fox news exposes themselves as a fool. Best bet is to quote the Economist, WSJ or FT (or me

)
3: How well do you bullshit ?
Corporate life requires that even when you think something is ѕhit or brilliant that you judge the tone of your remarks on the context and audience. Many newbies lack social graces, or have the wrong ones. A small tip: use the word "team" more often.
4: Have you actually thought about this, or are you applying to every bank in the list you found on Wilmott.com ? Jobs are like relationships, people want to feel special in your life.
5: Can you make a good pitch ?
Barcap employs people from political lobbyists, though quant, IT, trading, training, through to security guards with guns. Your 'research' should demonstrate that you have identifed business activities that you personally can make a contribution to.
...or it may just be thrown away. My cyinicism about online applications is to be found in many places But since you can't know that, assume it a a serious question..