This paper presents improved methods for determining the volume magnetic susceptibility of cylindrical weights with knobs and for determining the magnetic dipole moment of cylindrical permanent magnets. A permanent magnet is an essential part of a susceptometer, which is used for determination of the magnetic properties of weights. An improvement in the accuracy of both methods is achieved by taking into account the actual shape of the objects under consideration. Because of their complexity, a numerical approach is necessary to solve the two physical models under consideration. The measurement uncertainty is evaluated using the Monte Carlo simulation. The results and uncertainty of the magnetic dipole moment of cylindrical permanent magnets are determined by taking into account the magnet's actual shape. They are also compared with the results of the method where the magnet is treated as a point dipole. The results of the susceptibility, together with the measurement uncertainty, are given for a set of weights, and compared with the results of the approximation method of inner and outer cylinders. The improved accuracy of the presented method can help in making correct decisions as to which weights are suitable for calibration.