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Investment Banking Interview Course | Wall Street Oasis
Wall Street Oasis. Finance and consulting interview courses, video library, and company database Interview Courses include: Technical Interview Course; including recorded mock interviews and detailed Q&A finance videos with Wall Street practitioners and business school professors;. Investment Banking Interview Guide: If youre reading this document, youre probably considering signing up for the Breaking Into Wall Street Investment Banking Interview Guide. Your ability to answer technical questions competently and prove that you can do the work. Aug 03, · However, through all of my interviews I was never actually asked any technical questions (although I did do a 3 hour modelling Notes for Technical Interview Questions | Wall Street Oasis .
Wall street oasis technical interview guide pdf download
To browse Academia. Skip to main content. Log In Sign Up. WSO Technical Guide. Ryan Jusuf. Buyer: brian wallstreetoasis. All rights reserved. All information in this guide is subject to change without notice. No part of this guide may be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without the express written permission of WallStreetOasis.
While the level of difficulty of these questions varies from firm to firm, from interviewer to interviewer, and from candidate to wall street oasis technical interview guide pdf download, every applicant will be grilled on technical questions in at least one round of interviews.
This Guide is offered a compilation of the most common technical questions from finance interviews in a variety of fields. Obviously, you will not encounter every question from this Guide. Likewise, your interview may include variations on the questions included here or even questions that are altogether new. These concepts are further arranged according to basic, intermediate, and advanced levels of difficulty. The more common questions appear in boldface print.
Obviously, you should focus your attention on those, as well as on the sections relevant to your specific job interview.
You should always be prepared for the behavioral aspects of your interview, covered in the WSO Wall street oasis technical interview guide pdf download Interview Guide.
The final section of this Guide is Brainteasers. The purpose of a brainteaser during an interview is to see how wall street oasis technical interview guide pdf download react under pressure.
The purpose of this section of the guide is to give you some insight into what your thought process should look like. More important than actually solving the brainteaser is being able to organize your thoughts and deliver a reasonable response.
The interviewer wants to observe your analytical aptitude, your capability to handle some stress, and your ability to think on your feet.
You will soon realize that interviews are similar to a game. Even with a 4. When studying these questions, keep in mind that you cannot prepare for everything your interviewers may ask. They will always be coming up with new questions and new twists on standard questions, so it is important that you understand the theory behind the answers, rather than just memorizing them.
The explanations in the Guide are intentionally brief; when there is a question that you do not understand, do some research and develop a deeper understanding.
The message boards at Wall Street Oasis are a great place to get expert advice and insight from Wall Street insiders. Use the search function! With over a million posts to date, your question has probably been asked before, and an answer is in our archives. Most answers to these questions should not take more than 30 to 60 seconds. Answer the question and move on. Do not try and guess your way through technical questions. Do not apologize. Your most important task is to prove that you can and want to learn on the job.
If you get into questions from the advanced section of this Guide, remember that your interviewer is trying to see how you respond to pressure. Remain calm, cool, and collected. The Wall Street Oasis Behavioral Interview Guide has extensive advice on how to succeed in this crucial portion of the interview. Note: The first few bullets following each question present pertinent definitions and information about the concept.
Bullets in italics are sample responses. Subsequent bullets may present common follow-up questions. In most interview processes, you will likely encounter questions about current events and market conditions, in addition to the more standard questions that follow. Senior level interviewers VPs, MDs, wall street oasis technical interview guide pdf download, etc. Answering their high level questions effectively will demonstrate your interest in current events and in the industry.
This is crucial to showing your true drive and passion for the job. Perfecting the answers to standard technical questions may show your interviewer that you have done your homework, but your responses to current-event questions can prove to your interviewer you are able to think on your feet and express a coherent, intelligent opinion. Answering these wall street oasis technical interview guide pdf download of questions without some sort of background on the topic is nearly impossible.
Your interviewers will have a thorough understanding of the topics they are asking you about, wall street oasis technical interview guide pdf download, and they will be able to tell immediately if you try to answer off the cuff.
The only way to succeed is to know what is going on. Be sure you pay close attention to any recent news of the company to which you are applying. Unfortunately, you cannot cram for this portion of the interview in the way you can for the technical topics.
Constant monitoring of the markets, the news, and the economy is essential. To assure that you are prepared, read the at least the headlines of publications like the Wall Street Journal, Financial Times and The Economist every day. Although these are paid publications, the insights you can gain from reading them are invaluable to your interview preparation. You should give yourself about minutes every day reading them if you really want to absorb the latest financial news.
In addition to reading the headlines, you should pick out an interesting article from a non-headline story each day. Referring to a lesser-known fact or story within a discussion of broader market issues can be a strong point of differentiation between you and other candidates. Holding an intelligent conversation about the latest current events is a relatively easy way to impress your interviewer with your passion for the industry.
Financial reports filed with the Securities and Exchange Commission SEC are required of any company with publicly traded securities stocks, bonds, etc. These documents must follow very specific regulatory standards and are available for anyone to see at any time. Such documentation is required essentially any time a public company experiences a significant financial event, and the most relevant documents are Ks annual reports and Qs quarterly reports.
It also includes detailed financial statements for the fiscal year, including a Balance Sheet, Income Statement, and Cash Flow Statement. It must be filed by a public company for each fiscal quarter.
The Q focuses mainly on financial statements and includes less narrative information. Proxy Statement: A proxy statement is a document that a company is required to file with the SEC when soliciting shareholder votes. These reports can be found at several locations online, including www. Finance, or a database like CapitalIQ. In order to do that, you must stay up to date on current events. Try to read at least the Wall Street Journal or a business website for at least 30 minutes a day in order to stay up to speed.
Read up on them and be able to talk about them in your interviews. A mortgage-backed security is a security that pays its holder a periodic payment based on cash flows from the underlying mortgages that fund the security.
It will pay periodic payments that are very similar to coupon payments from bonds, wall street oasis technical interview guide pdf download. These cash flows come from packaged mortgages that have been bought up by a bank.
The MBS market allowed the investment community to lend money to homeowners with banks acting as the middlemen. Many MBS were rated AAA because they were considered highly diversified; investors did not expect the housing market to collapse all at once across the entire country. Unfortunately, we learned the hard way that housing values are highly correlated and the AAA rating of these securities was unfounded.
CDO refers to the broad asset class in which a variety of interest-paying assets are securitized and sold in the form of bonds. The assets packaged together in a CDO may include mortgages, student loans, etc. The investor pays market value for the CDO, and then has the rights to the interest payments on the packaged assets in the form of coupon payments over time.
It is a way to insure that an investor will not be hurt if the company defaults, wall street oasis technical interview guide pdf download. Credit Default Swaps are sold over the counter in an unregulated market. A CDS can be used for hedging, as an insurance policy against your bond defaulting. It can also be used for speculating: you can purchase a swap expecting the bond to become distressed; when more investors want insurance, wall street oasis technical interview guide pdf download, then your swap is worth more, and you sell it at a profit.
CDS prices for European sovereign debt have skyrocketed as foreign markets become more and more risky. First, it can be used as insurance for the buyer of a credit such as a bond or loan in order to minimize risk, ensuring that the buyer will be repaid in a bankruptcy scenario. Second, a swap can be purchased as a speculation tool, wall street oasis technical interview guide pdf download, with the buyer believing that the credit will become distressed, increasing demand for the CDS contract and therefore increasing its value.
Why are companies like Facebook, Twitter, and Instagram receiving multi-billion dollar valuations? The key here is that investors are anticipating extremely high future earnings for these businesses due to their reach and growth trajectory, so investors are less focused on present revenues and margins. With the social media giant Facebook, investors are expecting the company to find a better way to monetize their massive user base.
With over million members, if Facebook can figure out how to charge more for advertising, their earnings could be astronomical! Another reason a company like Facebook may be valued in the billions is because companies like Microsoft are willing to pay astronomical premiums for a small equity stake in order to catch the wave of the future.
How are the three main financial statements connected? If you can nail a few solid connections, you should be OK. More information on changes in working capital is presented later in this Guide. Or start with a few connections from the list above, and be ready to expand your answer wall street oasis technical interview guide pdf download necessary.
For example, the Income Statement closes with a net income figure that appears on the Cash Flow Statement as an addition to cash flow from operations. From that you subtract the cost of goods sold, which leaves gross margin. Subtracting operating expenses from gross margin gives you operating income.
What are the three components of the Statement of Cash Flows5?
Practice Interview Questions - Finance
, time: 22:58Wall street oasis technical interview guide pdf download
Wall Street Oasis. Finance and consulting interview courses, video library, and company database Interview Courses include: Technical Interview Course; including recorded mock interviews and detailed Q&A finance videos with Wall Street practitioners and business school professors;. Investment Banking Interview Guide: If youre reading this document, youre probably considering signing up for the Breaking Into Wall Street Investment Banking Interview Guide. Your ability to answer technical questions competently and prove that you can do the work. The 7th edition of the IB Interview Course is released! We've been working hard on keeping our materials up to date, taking your feedback, and making sure we're providing the best interview prep course out there. We've made a list of additions to the flashcards at the end of the Technical Guide; Wall Street Oasis Notifications.
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