The question bank.
126 questions asked in banking, private equity and markets interviews. Each one comes with the 30-second answer to give in the room, the full explanation, the mistakes that cost candidates and the follow-ups to expect.
Most asked
The questions that come up in almost every first round. Know these cold.
- 01 Walk me through the three financial statements.Accounting & the three statementsCore
- 02 How are the three statements linked?Accounting & the three statementsCore
- 03 Depreciation goes up by €10. Walk me through the three statements.Accounting & the three statementsCore
- 04 What is the difference between equity value and enterprise value?Enterprise & equity valueCore
- 05 Walk me from equity value to enterprise value.Enterprise & equity valueCore
- 06 Explain the treasury stock method.Enterprise & equity valueCore
- 07 Walk me through a trading comparables analysis.Trading comparablesCore
- 08 What is a precedent transactions analysis, and when is it most useful?Precedent transactionsCore
Technical
Accounting, valuation and deals: what every banking, PE and corporate finance interview tests.
Accounting & the three statements
How the statements link, and how any event flows through all three.
3 free to read Open → 8 questionsEnterprise & equity value
From share price to enterprise value: dilution, the bridge and what belongs in it.
3 free to read Open → 8 questionsTrading comparables
Picking peers, cleaning the numbers and reading the multiples.
3 free to read Open → 6 questionsPrecedent transactions
What buyers paid for control, and how to make deals comparable.
3 free to read Open → 12 questionsDCF & WACC
Free cash flow, discount rates, terminal value and the checks that keep a DCF honest.
3 free to read Open → 13 questionsM&A & merger models
Why companies merge, how deals are paid for, and accretion / dilution.
3 free to read Open → 9 questionsLBO
How a buyout is financed, where the return comes from and what a sponsor can pay.
3 free to read Open → 9 questionsDebt & credit
Loans vs bonds, ranking, covenants, ratios and ratings.
3 free to read Open → 7 questionsIPOs & equity capital markets
Sizing and pricing an offering, and reconciling the valuation methods.
3 free to read Open →Markets
Equities, rates, currencies and derivatives: the core of sales & trading, research and buy-side interviews.
Equities & markets
Pitching a stock, reading valuation, risk and the market's reaction to news.
3 free to read Open → 9 questionsBonds & interest rates
Price and yield, duration and convexity, the curve and what moves it.
3 free to read Open → 7 questionsCurrencies & macro
What drives exchange rates, forwards, and how central banks move markets.
3 free to read Open → 9 questionsOptions & derivatives
Calls and puts, what drives their price, the Greeks, forwards, futures and swaps.
3 free to read Open →