【海归招聘会】投行面试高频问题及解答框架
【海归求职】面试投行的十大最经典的Technical问题
【海归求职】面试投行的十大最经典的Technical问题随着MBA和大学本科的新的一个学期即将要开始，面试这个令人头疼的问题又要摆在大家的面前了。
下面是我们为大家挑选的10个投资银行最经典的技术问题。
1.如何去衡量一个公司的价值对于这个问题以及变体问题，我们应该用两个最基本的估值方法来回答：第一个是内在价值（Discounted Cash Flow Valuation，以下简称DCF），第二个是相对估值（comparable/multiples valuation）。
内在价值（DCF）这种方法相对学术化。
DCF要求通过对未来现金流的折现来衡量一个资产的投资价值。
这种方法要求我们预测未来5到20年的现金流，并且根据现在所能得到的信息以及信息的可靠程度，来预测现金流的终值。
然后通过选择合适的投资回报率（对于Unlevered DCF 我们选择加权平均资本成本（WACC），对于Levered DCF我们选择cost of capital，股本成本）对现金流的终值以及预测的现金流进行折现。
在Unlevered DCF中，（这是比较普遍的方法）我们得到的是公司的企业价值。
要扣除净借贷来计算出股票价值。
对于派发股利的股票，我们要计算被摊薄后每股收益来计算每股平均价值相对估值法（comparable/multiples valuation）第二个方法中需要选定同一类的公司，一般这类公司与要估值的公司处于同一个行业，有相似的经营环境，成长率，风险，以及投资回报率等。
在现实情况里面，完全相同的公司是不存在的，但是我们要尽量找到相类似的企业从而计算出相对准确的industry multiples，通过计算几个同类型企业的平均multiples，来算出目标企业的价值。
比较常用的乘数有：EV/Rev, EV/EBITDA,P/E，P/Book。
尽管一些行业会比较只强调某几个multiples，另外一些行业会同时使用很多industry multiples。
【海归招聘会】这55道问题,你在银行面试时很可能遇上!
【海归招聘会】这55道问题，你在银行面试时很可能遇上！1、给我三个理由，为什麼我必须要录取你？参考答案：①具有应聘职位的专业知识及技能②具有多年相关工作经验③良好的团体合作精神④很强的沟通协调能力⑤很强的学习能力，有很大的提高空间和发展潜力⑥高度责任感，对企业的忠诚⑦对上级领导的服从⑧具有很强的社会背景⑨丰富的人脉2、说说看什麼叫股改？你认为股改要成功最关键因素在哪里？答：股改即上市公司股权分置改革，是通过非流通股股东和流通股股东之间的利益平衡协商机制，消除A股市场股份转让制度性差异的过程。
3、试述中美日三国央行总裁名字美国→柏南克(联邦准备理事会主席，接替葛林斯班)日本→福井俊彦在2003年3月20日接替速水优,成为日本央行总裁中国→周小川先生(中国人民银行总裁)附：台湾→彭怀南先生(中央银行总裁)4、如果未来利率上涨，请问你会如何处理手上的股票跟债券？为什麼？答：如果未来利率上涨，资金就会从股市和债市流出，进入货币市场，所以，股市和债市将出现回落行情。
因此，需要卖出手头的股票和债券。
5、何谓成功？请你阐述成功的意涵。
答：成功就是达成所设定的目标。
成功其实是一种感觉，可以说是一种积极的感觉，它是每个人达到自己理想之后一种自信的状态和一种满足的感觉！总之，我们每个人对于成功的定义是各不相同的！而到达成功的方法只有一个，那就是先得学会付出常人所不能付出的东西！6、成功的人，都有那些共同的人格特质？答：①热情；②信念；③策略；④清楚的价值观；⑤活力；⑥凝聚力；⑦善于传送信息。
7、说说看30年后的你，可能是什麼身份地位？你打算怎样追求这个目标让它成功？8、请你说说一般国家产业外移的原因？中国近十几年来吸引许多外资入境投资，你认为这个现象背后的意涵为何？9、说说看金融控股的意义？金控的特色为何？10、外汇存底是怎麼来的？外汇存底为什麼不拿回来国内好好使用？11、你对中国经济发展的前景是悲观或乐观？12、新加坡是个蕞尔小国，在国际上却是颇受注目。
【海归招聘】面试真经
【海归招聘】面试真经• 投行篇2 | 一网打尽所有投行面试涉及的行业知识Technical + Soft Skill！投行内部行业知识问题大汇总Why Investment Banking1、I see you’ve worked mostly in wealth management before –why are you looking to switch into banking now?I want to understand the bigger picture and how and why large companies make decisions rather than just working with individual investors. Working on transactions and making an impact is more interesting to you than giving individual advice to high net worth individuals (or institutions).2、What’s your greatest fear about investment banking?Do not give an actual, legitimate fear (losing your friends/significant other, gaining weight, working too much, hating your life, getting laid off, etc.). Instead, it’s best to go with something more innocuous like, “Doing a lot of work on deals and not always getting to see them through to the conclusion because anything could cause a large transaction to collapse” or having concerns about the deal f low if the market is poor.3、That guy over there is from Wharton/Harvard/LSE and has perfect grades –why should I hire you over him, given that you’re much less impressive?Bankers hire people who 1) Are smart 2) Can do the work and 3) Are likeable. In ad dition to meeting all of those criteria, you’ve also done well in the real-world and have stellar recommendations to back you up –plus, since you don’t come from a “bluechip” background you’re more motivated to succeed than the Harvard guy.‘He does have impressive credentials. But at a bank, you want someone who’s smart, can do the work, and is easy to get along with. I’ve done well in school and am working on an Honors Thesis right now, and I have great recommendations from my 2 previous bosses in my Sales & Trading internships. And I spend most of my free time sky diving and going on adventures in different countries. So while he may bequalified on paper, in banking it all comes down to real-world experience and what kind of camaraderie you have with ev eryone. I’m confident that I excel in both of those areas –and since I’m not from a privileged background, I’m even more motivated to succeed than someone who is.’Understanding Investment Banking1、Can you tell me about the different product and industry groups at our bank?This one is bank-dependent and will differ for boutiques, middle-market firms and bulge brackets – so you need to research it before your interview.Common product groups include Mergers & Acquisitions (M&A), Leveraged Finance (LevFin) and Restructuring; you could also consider Equity Capital Markets and Debt Capital Markets “product groups” but that one is debatable.Common industry groups include Healthcare, Retail, Industrials, Energy, Natural Resources, Financial Institutions, Gaming, Real Estate and Technology, Media & Telecom (TMT).Not all banks are structured this way – Goldman Sachs, for example, does not have product groups and instead handles all types of deals in its industry groups. A lot of boutiques focus only on M&A and/or Restructuring and ones that are small enough are not even split into industry groups.2、What’s in a pitch book?It depends on the type of deal the bank is pitching for, but the most common structure is:1.Bank “credentials” (similar deals they’ve done to “prove” their expertise).2.Summary of a company’s options (“strategic alternatives” inbanker-speak).3.Valuation and appropriate financial models (for example, if you’re pitching foran IPO you might show where the IPO proceeds would go).4.Potential acquisition targets (buy-side M&A deal) or potential buyers (sell-sideM&A deal). This is not applicable for equity/debt deals.5.Summary and key recommendations.Discussing Transaction Experience1、Walk me through one of the deals listed on your resumeExample 1 (A sell-side M&A deal):One of the deals I worked on was the sale of a $1 billion market cap consumer retail company. They specialized in food and beverages and sold to the US and European markets. Their revenue was around $800 million with $200 million EBITDA, growing at around 5% per year. They were interested in selling because of a string of recent acquisitions in their market, and felt they could get a premium valuation. They engaged us to run a broad sell-side process with financial and strategic buyers.Example 2 (IPO):One deal I worked on was the $200 million IPO of a Chinese Internet company on the Hong Kong stock exchange. They had revenue of around $50 million, EBITDA of $10 million, and were growing very quickly, around 50% per year. They were going public to raise funds so that they could expand beyond China and get into other markets, and we were the lead underwriter on the deal.Brain Teaser Questions1、What is the angle formed by the hands of the clock when it is 1:45?142.5 degrees. If we just think of the clock hour hand at 1 and the minute hand at the 45 position (near 9 o’clock), that is 120 degrees since they are 4 “numbers” apart, and each number on the clock represents 30 degrees (360/12).However, recall that the hour hand has already moved by the time the minute hand has reached the 45 position –it is now closer to 2 o’clock. 45 represent ¾ of an hour, so the hour hand will have moved ¾ of 30 degrees, or 22.5 degrees. If we add them together, we see that 120 + 22.5 = 142.52、You have a hose along with a 3 liter bucket and a 5 liter bucket. How do you get exactly 4 liters of water?First, fill the 3 liter bucket and pour it into the 5 liter one.Then, re-fill the 3 liter bucket and pour it into the 5 liter bucket until it’s full – that leaves 1 liter in the 3 liter bucket and 5 in the 5 liter bucket.Then, pour out the 5 liter bucket so nothing is left and pour the 1 liter of water from the 3 liter bucket into the 5 liter bucket. Finally, fill the 3 literbucket completely and pour it into the 5 liter bucket – since it already has 1 liter of water, you’ll get exactly 4 liters.。
境外就业面试时雇主常提问的问题及解答参考
境外就业面试时雇主常提问的问题及解答参考Part one:1.Q;你叫什么名字？你能告诉我你叫什么名字吗？What is your name? Can you tell me your name?A:我叫什么名字。
My name is ……2.Q:你多大年龄？你什么时间出生的？你能告诉我你的出生日期吗？你知道你的生日吗？How old are you? What is your age? When were you born? Can you tell me the date of your birth? Do you know your birthday?A: I am 20 years old. I was born in 1988. I was born on July 13th 1988.3.Q:你是哪里人？你的家乡是哪里？Where are you from? Where do you come from? Where is your hometown?A: I am from Yantai. I come from Yantai. My hometown is Yantai.4.Q:你身高是多少？你体重是多少？What is your height? What is your weight?A：I am 173㎝. I am 60㎏.5.Q:你结婚了吗？你有男/女朋友吗？你准备什么时间结婚？Are you married? Do you have a boyfriend/girlfriend? When are you going to get married?A:No, I am not married. I don’t hav e a boyfriend/girlfriend. I don’t want to get married in recent years.6.Q:你色盲吗？Do you have color blind?A: No, I don’t.7.Q:你近视吗？如果近视？你眼镜的度数是多少？Are you near—sighted? If you are near-sighted, what power of your glasses(spectacles、lenses)?A: 是的，我近视。
【海外人才招聘会】投行的面试问题清单
【海外人才招聘会】投行的面试问题清单你是否在面试在一家投资银行的毕业生计划或暑期实习？哪些问题会在面试被问到？下面，我们从过去几年的权威指南、投资银行的面试问题中总结出了一份面试问题清单，让你能自信满满地面对投资银行的面试！BofA: Summer analyst position, M&AIf I buy new property plant and equipment (PP&E) for $10m ($5m cash and $5m debt), what will happen to the balance sheet and cash flow?Who will pay more for an acquisition, a strategic buyer or financial, and why?Why would two companies in the same sector have different P/E ratios (one is lower, other is higher)?BofA: Graduate position, technologyTell me about yourself?How do you ensure you meet delivery deadlines?Have you ever failed to meet delivery deadlines?What is Sql Server?What’s the difference between Left Outer Join and R ight Outer Join?Explain 3 features of Object Oriented Programming.Barclays’ Investment Bank interview questionsBarclays: Graduate position, tradingHow many footballs would fit into this room?Why did you choose to pursue a career in banking?If you were advising a client, would you advise them to short or long shares in our company at the moment?Barclays: Internship, technology divisionWhy do bubbles not appear when sparkling water is closed?Why, in this glass do the bubbles in the water sit at th e bottom?”Tell me about your personal morals, what p*sses you off?Barclays: Internship, trading and structuringWhat’s 1/7 expressed as a decimal?There’s a revolver, with two bullets in two chambers that are next to each other, and the rest of the four chambers are empty. The policeman spun the revolver and pulled the trigger at you, nothing happened. Suppose that you don’t want to die, would you prefer the policeman to spin the revolver again before the next shooting or shoot again directly?Suppose I h ave a string and cut it into two pieces, what’s the probability that one piece is at least twice as long as the other piece?So you study mathematics, tell me one the theorem you have learned in Discrete Mathematics [listed in coursework section of CV]?What is VaR? What are its advantages and disadvantages?Barclays: Internship, operationsTell me about Barclays?Tell me a weakness of yours?Explain a time where you coped with working in a ‘difficult’ team environment. i.e. where you didn’t get on with members of your team.Tell me how your previous work experience is beneficial in an investment banking environment.Tell me about a time when you were required to be a leader.Are you able to work with people of varying cultures? If so, explain why.Barclays: Graduate position, IBDHow many lightbulbs are there in the UK?How would you invest £1,000,000?I have 45 socks in a drawer; 10 are blue, 15 are red, 20 are yellow. If I blindly pull out one sock at a time, how many attempts are needed to get a pair?What have you done to prove your leadership skills?Berenberg interview questions:Berenberg: Summer research internship (pre-screening interview)What did the FTSE close at yesterday?You’ve pitched me a buy stock and a sell stock, so what about a hold?Berenberg: Summer research internship (final round)You say that equities are overpriced and due to collapse soon. How can you say that when that’s my job and what I do for a living, day in day out? I’m telling clients to buy certain stocks, are you saying I’m wrong?So you’ve never lived out for uni? How would you survive if I sent you to Hamburg for 2 years?Which daily newspaper do you read? Aside from the FT or WSJ. And why?Berenberg: Graduate position, equity researchWhat can you do with an orange?If you were an animal, which one would you be and why?There is another candidate for the position. Should we interview him and decide who is better or would you prefer we make our hiring decision by flipping a coin?Citigroup interview questionsCitigroup: Summer internship, private bankingIf you had to re-design an orange- what would it look like?Do you think China’s economy will continue to liberalise and by how much further?What is your favourite Microsoft programme and why?Citigroup: Graduate position, IBDHow did you convince a senior member of your team about the effectiveness of an idea you had?What is the most significant recent development in the investment banking industry?Tell me about a time when you were under immense pressure.What do you think will be the emerging trends in consumer banking (yes, someone was asked this in an investment banking interview)?Credit Suisse investment bank interview questionsCredit Suisse: Graduate position, IBDTell us about yourself?Why our bank?Tell us about your strengths?Do you have any examples of times when you used your own initiative?Where do you see yourself in next five years?Credit Suisse: Internship, M&AI have a cube made up of smaller cubes, 10x10x10. If I dip the whole thing in paint, how many cubes will have no paint on them?Are you a Keynesian or a monetarist?I have two frogs and their population doubles in size every second. It takes 60 seconds to fill up a room with frogs. How long does it take to fill up half the room?DC AdvisoryDC Advisory: Internship, FrankfurtHow can you get from FCFF to FCFE?Please create a one pager about a company in one hour.Deutsche Bank interview questionsDeusche Bank: Graduate position, sales and tradingYour client is a hedge fund that requires you to analyse a certain subsector of the FTSE 100 to identify trading strategies based on volatility. How do you approach the analysis?How do you construct an exchange traded fund (ETF) and what factors do you ta ke into consideration when you’re doing so?Do you believe there is a bubble in the bond market?Deutsche Bank: Graduate position, global capital marketsHow would you rate us against our competitors?Wouldn’t you be better suited to working for another or ganisation?What exactly does the word ‘success’ mean to you?Deutsche Bank: Graduate position, riskWould you say that you are a trustworthy person?Do your friends trust you with their secrets?What types of secrets do they share with you?Where do you see yourself in 5 years?Why are man holes round?Are there enough hours in the day?What is the square root of 1?Petrol, or diesel – which is more combustible? Why?Goldman Sachs interview questionsGoldman Sachs: Internship, M&AWalk me through an LBO analysis.What factors can lead to the dilution of EPS in an acquisition?If you are in a business that wants to preserve cash, what type of inventory accounting method would you use (LIFO or FIFO) in a time of rising prices, and why?What is Minority Interest and why do we add it in the Enterprise Value formula?Briefly walk me through a discounted cash flow analysis. (including WACC).Why can’t you use EV/Earnings or Price/EBITDA as valuation metrics?Estimate the value of the tie industry in the UK.What are your best skills? Why would they be applicable?Discuss a deal you have read about recently.Who is the most famous and influential person you would like to meet and why?Why Goldman Sachs?Goldman Sachs: Graduate position, securitiesWhen you heat a sausage in the microwave, the tear is always lengthwise. Why is that?How could you set up a recursive function so that a really smart language / compiler could evaluate the function and never run out of memory?KPMG interview questionsKPMG: Graduate programme, restructuring, FrankfurtWhen a firm has a market share of 50% in Germany and 30% in Europe, what is the market share of the firm in Europe without Germany?You are given 100 million Euro to set up your own bank. Which customer segment would you focus on, and which strategy would you use for that?JPMorgan interview questionsJPMorgan: Summer internship, sales and tradingGive an example of a time you encountered a difficult question whilst working in a groupWhat is the biggest risk you have ever taken in your life?What do you see yourself contributing to this organization, in both the short and long term?JPMorgan: Summer internship, M&AWhy are you looking for an internship in Investment Banking?Why do M&As happen?What are your 3 main strengths?What is your greatest weakness?What motivates you?JPMorgan: Associate interview, M&AYou look at the clock. It’s 3.15pm. What’s the angle between the clock hands?What is the sum of the numbers from one to 100?What is the expected value of a roll of a dice?JPMorgan: Off-cycle internship, FX salesTell me about your educational background.Which are the most important/interesting subjects within FX markets at the moment?If you could pick whichever investment you wanted, were would you put your money today?What do you think a position within FX Sales would entail?Lazard interview questionsLazard: Graduate interview, M&AShould charities be taxed?You’ve been captain of your sports team and are obviously used to being in charge. How will you feel about being at the bottom of the food chain here?Do you agree with the private equity model of buying cheap, cutting costs and selling high?Man Group interview questionsMan: Summer internship, asset managementCan you estimate UK GDP?You’ve have estimated the average salary as £40k. Can you now estimate the largest mortgage an individual can obtain when buying a house. Let’s say the interest rate is 5% on a 20 year mortgage.Calculate the square root of 69Macquarie interview questionsMacquarie: Internship, IBDName me a company you would invest in and why.What are three ways of valuing a company?What’s 456 x 3?Macquarie: Graduate position, IBDHow many weddings are there in Germany in a year?How tall is the Citypoint building?Describe yourself in three words.What is your biggest flaw?Mitsubishi UFJ interview questionsMitsubishi: Graduate position, fixed income tradingWhat are the risks associated with owning a bond?How do you hedge interest rate risk on a bond?How does liquidity affect the bid-offer spread on a bond?Mitsubishi: Graduate position, tradingWhat is the square root of 135?Over the phone I was asked: ‘Which is the main CDS index?’What are the odds of getting two sixes in a row after throwing a fair dice twice?What would you invest in if your holding period was 1year, 3 years and 10 years?Morgan Stanley interview questionsMorgan Stanley: Internship, investment banking division (IBD)What’s the most important: Money, honour, or knowledge?What’s the square root of 341?Why should we not give you the job?Which other investment bank, apart from Morgan Stanley, do you like the most and why?Is political risk in Eastern Europe a serious threat for banks?Briefly walk through a discounted cash flow analysis (including WACC).What is the formula for enterprise value?What is minority interest and why do we add it in the enterprise value formula?Which will place a higher value on the company, equity comparables (trading comps) or M&A comparables (transaction comps) and why?A company makes a $100 cash purchase of equipment on Dec. 31. How does this impact the three statements this year and next year?Tell me how would you value a company? Which are the most used financial tools in this area?Why cannot we use EV/Earnings or Price/EBITDA as valuation metrics?What factors can lead to the dilution of EPS in an acquisition?Why do we subtract cash in the enterprise value formula?Morgan Stanley: Operations, one year placementWhere do you see yourself after this placement (if you g ot it) in 5 years’ time?Name a time you have had to make a tough decision. How did you deal with this?Name a time you have been entrepreneurial. What did you learn from this?Société Générale interview questionsSocGen: Graduate job, project financeWhat is a common ratio used in project finance and how do you calculate it?Why is the DSCR used and what range do you expect it to be in?What is the credit rating for high yield?Why use a project finance structure as opposed to corporate finance?SocGen: Internship, equity structuringWhat the delta of an option when it is at the money (ATM)?What will happen to the price of the option if there is an increase in interest rates?What is the price of an option if the volatility tends towards infinity? And what if the expiry date tends towards infinity?UBS interview questionsUBS: Internship, equity researchHow would you go about valuing a company?Tell me about some time when you’ve had to overcome adversity?How far do you see yourself going in the bank?UBS: Graduate position, wealth managementHow do you price options?If you would have to open an Rep Office, how would you advertise that?When did you show entrepreneurial spirit?What are your current views on the economy and investing?。
投行专业面试问题概要
一、经典问题1、为什么要做投行2、你做好了做投行的准备没3、你觉得你适合做投行么4、你在实习期间的感悟5、你准备怎么去做投行6、你的专业背景有啥适合做投行的二、更经典问题一个项目最重要的是什么？1.行业前景2.公司的未来前景和可持续盈利能力3.独立性和合规性问题做投行最重要的是什么？**ED说过：1.沟通能力2.财务和法律基础3.行业分析能力4.学习能力***HR说过：1.沟通能力2.韧性3.学习能力**又说了，诚信和品德也很重要二、专业问题1.实习**时间，你对投行的认识投行的作用：在于综合协调其他中介机构的意见，根据自己的尽职调查结果，为公司上市制定合理的改制方案和上市方案，为推动企业执行；讲个好故事，将拟上市公司从丑小鸭变成美丽的天鹅，卖个好价钱1.投行与pe的区别Pe作为投资者，投行仅是中介机构，确切的讲，投行是为pe等投资者服务的。
具体区别：投资阶段更靠前，投资行业范围更广泛，投资时间更长线，对企业提供的增值服务更贴切，这是PE的价值所在。
2. BS，IS和CFS三个表哪个最重要1.资产负债表：反映企业在某一特定日期财务状况的（静态）会计报表，通过该表了解企业资产（负责）总量及结构、投资者（老板）所拥有的权益。
2.利润表：反映企业在一定会计期间的经营成果的（动态）会计报表，可以一目了然从表中看到经营业绩形成过程，收入来源、成本费用消耗、净利润等。
3.现金流量表：反映企业在一定会计期间现金和现金等价物流入和流出的会计报表。
表中项目从不同角度反映企业业务活动的现金流入与流出，弥补了资产负债表和利润表提供信息的不足（了解净利润的质量）。
以上“三表”既有侧重又相互补充，真正要说出那张表最重要，一定没有唯一的答案，一定是因（使用者立场）人而异。
1.如何从报表看公司财务是否舞弊（报表看公司财务的问题）1.与同类公司或与公司历史比较，毛利率明显异常；2.货币资金和银行贷款同时高企；3.应收账款、存货异常增加；4.估算的应交所得税余额与实际余额相比相差甚远；5.现金净流量长期低于净利润。
【海归求职】面试真经
【海归求职】面试真经• 投行篇| 秋招开始前准备好这些面试问题，不让人印象深刻都难！内附回答方法投行内部Technical面试问题大汇总Basic Valuation Questions1、What are the 3 major valuation methodologies?Comparable Companies, Precedent Transactions and Discounted Cash Flow Analysis.2、What are the most common multiples used in Valuation?The most common multiples are EV/Revenue, EV/EBITDA, EV/EBIT, P/E (Share Price / Earnings per Share), and P/BV (Share Price / Book Value per Share).3、What are some examples of industry-specific multiples?Technology (Internet): EV / Unique Visitors, EV / PageviewsRetail / Airlines: EV / EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortization & Rental Expense)Energy: EV / EBITDAX (Earnings Before Interest, Taxes, Depreciation, Amortization & Exploration Expense), EV / Daily Production, EV / Proved Reserve QuantitiesReal Estate Investment Trusts (REITs): Price / FFO per Share, Price / AFFO per Share (Funds From Operations, Adjusted Funds From Operations)Basic DCF(Discounted Cash Flow) Questions1、Walk me through a DCFA DCF values a company based on the Present Value of its Cash Flows and the Present Value of its Terminal Value.2、What’s the relationship between debt and Cost of Equity?More debt means that the company is more risky, so the company’s Levered Beta will be higher – all else being equal, additional debt would raise the Cost of Equity, and less debt would lower the Cost of Equity.3、Which has a greater impact on a company’s DCF valuation – a 10% change in revenue or a 1% change in the discount rate?You should start by saying, “it depends” but most of the time the 10% difference in revenue will have more of an impact. That change in revenue doesn’t affect only the current year’s revenue, but also the revenue/EBITDA far into the future and even the terminal value.Basic LBO (Leveraged Buyout) Questions1、Walk me through a basic LBO model.Step 1:Making assumptions about the Purchase Price, Debt/Equity ratio, Interest Rate on Debt and other variables; you might also assume something about the company’s operations, such as Revenue Growth or Margins, depending on how much information you have.Step 2: Create a Sources & Uses section, which shows how you financethe transaction and what you use the capital for; this also tells you how much Investor Equity is required.Step 3: Adjust the company’s Balance Sheet for the new Debt and Equity figures, and also add in Goodwill & Other Intangibles on the Assets side to make everything balance.Step 4:Project out the company’s Income Statement, Balance Sheet and Cash Flow Statement, and determine how much debt is paid off each year, based on the available Cash Flow and the required Interest Payments.Step 5:Make assumptions about the exit after several years, usually assuming an EBITDA Exit Multiple, and calculate the return based on how much equity is returned to the firm.2、Why would you use leverage when buying a company?To increase your returns. Any debt you use in an LBO is not “your money” –so if you’re paying $5billion for a company, it’s easier to earn a high return on $2 billion of your own money and $3 billion borrowed from elsewhere versus $3 billion of your own money and $2 billion of borrowed money. A secondary benefit is that the firm also has more capital available to purchase other companies because they have used leverage.3、What variables impact an LBO model the most?Purchase and exit multiples have the biggest impact on the returns of a model. After that, the amount of leverage (debt) used also has a significant impact, followed by operational characteristics such as revenue growth and EBITDA margins.4、What is an “ideal” candidate for an LBO?“Ideal” candidates have stable and predictable cash flows, low-risk businesses, not much need for ongoing investments such as Capital Expenditures, as well as an opportunity for expense reductions to boost their margins. A strong management team also helps, as does a base of assets to use as collateral for debt. The most important part is stable cash flow.5、How do you use an LBO model to value a company, and why do we sometimes say that it sets the “floor valuation” for the company?You use it to value a company by setting a targeted IRR (Internal Rate Return) (for example, 25%) and then back-solving in Excel to determine what purchase price the PE(Private Equity) firm could pay to achieve that IRR.This is sometimes called a “floor valuation” because PE firms almost always pay less for a company than strategic acquirers would.。
投资公司招聘面试问题和答案
投资公司招聘面试问题和答案一、基本信息面试候选人姓名：面试时间：面试地点：二、面试问题1. 个人能力和经验1.1 请您自我介绍一下。
1.2 在您过往的工作中，有哪些经验可以应用到投资领域？1.3 您如何评价自己的沟通能力和团队合作能力？2. 投资知识2.1 请简述一下您对投资的理解。
2.2 您如何看待当前的投资市场环境？2.3 请举例说明您在过往的投资过程中，是如何进行风险管理和控制的？2.4 在面对不同的投资项目和标的时，您是如何进行选择的？3. 业务理解3.1 请您谈谈对我们公司的了解，以及您认为公司的发展前景如何？3.2 您如何看待投资公司的业务战略和发展方向？3.3 请谈谈您对我们公司投资理念的理解。
4. 问题解决能力4.1 如果在投资过程中出现了未预见的风险，您会如何处理？4.2 请您描述一次在过往工作中遇到的问题，并说明您是如何解决的。
4.3 面对市场变化，您会如何调整投资策略？5. 团队合作与领导力5.1 请谈谈您在团队合作中扮演的角色和贡献。
5.2 如果您在团队中发现了问题，您会如何处理？5.3 请举例说明您在过往的工作经历中，如何带领团队达成目标。
6. 自我提升6.1 您是如何保持自己在投资领域的专业知识和技能的？6.2 您在业余时间喜欢做什么？这些爱好如何帮助您提升自己？6.3 您在未来三年的职业规划是什么？三、面试答案1. 个人能力和经验1.1 作为一名拥有丰富投资经验的候选人，我在过去的工作中负责过多个投资项目，涉及领域包括股票、债券、基金等。
我具备扎实的分析能力和敏锐的市场洞察力，能够准确判断投资机会。
1.2 在我的过往工作中，我积极地与团队成员沟通协作，共同完成投资项目。
我具备较强的团队合作能力，能够与不同背景的人有效沟通，共同推进项目进展。
2. 投资知识2.1 在我看来，投资是一种通过分析市场和标的，以期获得长期稳定回报的行为。
投资需要深入研究市场、公司和行业，同时关注宏观经济和政策环境。
投行面试经典问题
投行面试经典问题
投行面试中可能会问到的问题非常广泛，但有一些经典问题可能会被经常问到。
以下是一些投行面试的经典问题：
1. 自我介绍：请简要介绍一下你自己，包括你的背景、技能和工作经验。
2. 为什么选择投行：投行是一个竞争激烈的行业，请谈谈你为什么想加入投行。
3. 职业规划：在未来的五年或十年里，你希望自己在职业生涯中实现什么目标？
4. 对投行的理解：请谈谈你对我们公司的理解，以及你为什么认为自己适合这个行业。
5. 团队协作能力：在投行工作中，团队协作能力非常重要。
请谈谈你过去在团队中的表现，以及你是如何处理与团队成员之间的关系。
6. 压力应对：投行工作常常伴随着高强度的工作压力。
请谈谈你如何应对压力，以及你在过去的工作中是如何处理高强度的工作任务的。
7. 分析能力：请举一个例子，说明你是如何分析一个复杂的商业问题的，并得出结论。
8. 沟通能力：在投行工作中，沟通能力是非常重要的。
请谈谈你过去在沟通中的表现，以及你是如何处理与上级、客户和同事之间的沟通的。
9. 项目执行：请举一个例子，说明你是如何在项目中起到关键作用的，并帮助项目取得成功。
10. 问题解决能力：请举一个例子，说明你是如何解决一个复杂的商业问题的，并给出解决方案。
这些问题只是一些经典问题，实际上在投行面试中可能会问到更广泛的问题。
在准备面试时，建议做好充分的准备，了解公司的文化、业务和行业，以便更好地回答面试官的问题。
【海归招聘会】独家奉献投行面试10大必问问题及详细解答
【海归招聘会】独家奉献投行面试10大必问问题及详细解答Accounting & Financial Statements1. If a company incurs $10 (pretax) of depreciation expense, how does that affect the three financial statements?如果一家公司有了一个10刀的折旧费用（税前），这会怎么影响3个财务报表？This is the most common version of this type of question. Note that the amount of depreciation may be a number other than $10. To answer this question, take the three statements one at a time.First, the income statement: depreciation is an expense so operating income (EBIT) declines by $10. Assuming a tax rate of 40%, net income declines by $6. Second, the cash flow statement: net income decreased $6 and depreciation increased $10 so cash flow from operations increased $4. Finally, the balance sheet: cumulative depreciation increases $10 so Net PP&E decreases $10. We know from the cash flow statement that cash increased $4. The $6 reduction of net income caused retained earnings to decrease by $6. Note that the balance sheet is now balanced. Assets decreased $6 (PP&E -10 and Cash+4) and shareholder’s equity decreased $6.You may get the follow-up question: If depreciation is non-cash, explain how this transaction caused cash to increase $4. The answer is that because of the depreciation expense, the company had to pay the government $4 less in taxes so it increased its cash position by $4 from what it would have been without the depreciation expense.Valuation1. What are the three main valuation methodologies?三个估值的主要方法是什么？The three main valuation methodologies are (1) comparable company analysis, (2) precedent transaction analysis and (3) discounted cash flow (“DCF”) analysis.2. Of the three main valuation methodologies, which ones are likely to result in higher/lower value?三个估值的主要方法中，哪一个会产生最高/低的值？Firstly, the Precedent Transactions methodology is likely to give a higher valuation than the Comparable Company methodology. This is because when companies are purchased, the target’s shareholders are typically paid a price that is higher than the target’s current stock price. Technically speaking, the purchase price includes a “control premium.” Valuing companies based on M&A transactions (a control based valuation methodology) will include this control premium and therefore likely result in a higher valuation than a public market valuation (minority interest based valuation methodology).The Discounted Cash Flow (DCF) analysis will also likely result in a higher valuation than the Comparable Company analysis because DCF is also a control based methodology and because most projections tend to be pretty optimistic. Whether DCF will be higher than Precedent Transactions is debatable but is fair to say that DCF valuations tend to be more variable because the DCF is so sensitive to a multitude of inputs or assumptions.3. How do you use the three main valuation methodologies to conclude value?你怎么运用三个主要的估值方法来计算公司估值？The best way to answer this question is to say that you calculate a valuation range for each of the three methodolog ies and then “triangulate” the three ranges to conclude a valuation range for the company or asset being valued. You may also put more weight on one or two of the methodologies if you think that they give you a more accurate valuation. For example, if you have good comps and good precedent transactions but have little faith in your projections, then you will likely rely more on the Comparable Company and Precedent Transaction analyses than on your DCF.Discounted Cash Flow1. Walk me through a Discounted Ca sh Flow (“DCF”) analysis.请叙述一下贴现现金流分析。
投资银行业面试问题全攻略
投资银行业面试问题全攻略在进入投资银行业的职场之前，面试是必不可少的一关。
投资银行业的岗位竞争激烈，拥有准备充分的面试技巧和对可能被问到的问题有所了解非常重要。
在本文中，我们将为您提供投资银行业面试问题的全攻略，帮助您在这一关键环节中脱颖而出。
1. 个人背景和技能在投资银行业的面试中，一般会首先问及您的个人背景和技能。
这些问题旨在了解您的教育背景、工作经验和专业技能。
以下是一些常见的问题：- 您可以谈一谈您的教育背景吗？（如学校、专业）- 您的工作经验对投资银行业的职位有何帮助？- 您在哪些专业技能方面有所专长？回答这些问题时，您可以重点介绍与投资银行业相关的学习背景、实习经验和专业技能，并强调如何将这些经验和技能应用于该行业。
2. 行业知识和趋势投资银行业的岗位需要对市场、经济和相关规定有一定的了解。
招聘者通常会考察您对行业的认识程度以及对行业趋势的预测能力。
以下是一些常见的问题：- 您对投资银行业有什么了解？- 您认为当前的投资银行业趋势是什么？- 您如何看待金融监管对投资银行业的影响？回答这类问题时，您需要展示您对投资银行业的广泛了解，可以引用一些具体的数据和实例来支持您的观点。
3. 金融建模和分析能力投资银行业的工作往往需要进行金融建模和风险分析。
招聘者通常会就您的金融建模和分析能力提问。
以下是一些常见的问题：- 您有进行金融建模和分析的经验吗？- 请描述您最近的一个金融建模项目。
- 您如何评估风险和回报？回答这些问题时，您可以重点介绍自己的项目经历，说明您在金融建模和分析方面的能力，并与具体的案例进行结合。
4. 解决问题和团队合作能力在投资银行业，能够解决问题和良好的团队合作能力是非常重要的。
招聘者通常会就您的解决问题的能力以及在团队中的角色提问。
以下是一些常见的问题：- 您在以前的工作中如何解决一项困难任务？- 请讲述一个您在团队中发挥重要作用的经历。
- 您如何处理与同事之间的合作冲突？回答这类问题时，您可以重点突显自己的解决问题的能力和在团队中的积极作用，强调您的沟通和合作能力。
【北京海归招聘会】推 荐｜花旗投行女解答投行申请问题
【北京海归招聘会】推荐｜花旗投行女解答投行申请问题1为什么选择投行？投行的工作性质比较特别，需要具有会计和建模等知识和分析能力，也需要有与客户沟通、交流的能力。
我认为对刚毕业的学生来说是一个很有挑战的工作，能在短时间内学到很多东西（大家常说的Steep Learning Curve），在做Analyst 的时候学到的做事方法之后不管在哪个行业都能受用。
另外，在做项目的过程中会接触到各个不同的领域和行业，这也是让我感兴趣的其中一点。
2几月份开始递简历？（美国和香港投行有什么区别？）因为投行面试一般是Rolling Basis，所以越早开始投，拿到面试的机率越大，一般在八月底九月初，香港申请截至日期一般是十一月初。
3大概多久后有通知？两三周之后就会有。
如果Networking时拿到了面试机会或是有人推荐，会更快一些。
当然也不排除投行在面试完一轮之后没有找到足够合适的人选，会再面一批人。
Networking在香港虽然不是必须的，但有Networking对申请还是会很有帮助的。
4一共有几次面试？（Behavior，Technical各几次？）花旗的面试有两轮，一轮是三个电话面试，由Associate和VP面，会相对Technical。
第二轮是Superday，除了和Director，ManagingDirector面试外还有有一些小组活动。
跟比较Senior的人面试会没那么Technical，但可聊的话题会比较广，需要准备的比较多。
5如何做准备？（资料太多，如何系统复习？）Technical方面需要掌握基本的三张财务报表和估值方法相关的知识，也包括对投行做项目流程上的一些基本了解。
如果你已经有了在投行实习的经历，可能问题会相对Technical一些，所以在写简历的时候，要确保列出来的内容你都了解而且能跟面试官讲清楚。
在了解完这些后，还可以多看一些帮助准备面试的网站，比如Mergers and Inquisitions。
【海归招聘】投行、金融面试问这三个市场相关的问题,一定让面试官对你念念不忘!
【海归招聘】投行、金融面试问这三个市场相关的问题，一定让面试官对你念念不忘！◆◆◆◆◆如果你正在投行面试，将要结束时的提问环节，你需要怎样运用关于市场的知识才能给对方留下深刻印象呢？以下是一些非常有用的新点子。
1如何应对固定收益货币和大宗商品（FICC）收入的减少？Morgan Stanely（以下简称“大摩”）预测2015年固定收益全行业收入降低了5%，且认为2016年会再降低3%。
固定收益贡献约占投行总收入的44%，因此即便你面试的是非固定收益部，也需要提问投行对此的应对方案。
如果你面的是刚换了CEO的某家欧洲银行（比如德意志银行、巴克莱或瑞信），情况更是如此。
这三家都面临提高股票收益的巨大压力，来自大摩的分析师说：“德意志银行、巴克莱、瑞信的新团队表示，或许要等到2018年股本回报率才会再次好转，这对大多数投资者而言简直过于漫长。
”你准备加入的投行计划如何解决此事呢？22016年美国投行的收益展望如何？2015年北美投行部收益颇丰：Dealogic数据显示，投行并购业务收益达到有史以来最高水平。
不幸的是，这意味着美国各投行部在2016年要卯足劲儿地达到同2015年持平的收入水平。
大摩分析师预计并购收入会降低6%，见下图：全球投行收入—2016年预测数据vs2015年预测数据（按美元计算）资料来源：大摩研究部预测数据；注：合计数字包含其他收益如果你正面试投行部，或许会想提问即将加入的这家公司有何计划来实现跟去年持平的业务量，以及公司业务储备如何？3监管情况怎么样？最后，你或许想问点关于监管的情况。
大摩分析师认为2016年监管对银行股票业务收益会造成很大困扰，而大摩的分析师对此不太肯定。
“我们的一致观点是，在当前监管力度之下市场已是过于低迷，”他们如此写到。
“巴塞尔委员会没能在其12月的会议上就FRTB（交易书基本回顾）达成一致的事实向我们传递出需要进一步作出改进的信号，因为我们认为FRTB同重启证券化市场的ECB/ BoE/CMU计划不一致，这对2016年来说是个正面信息和值得期待的地方。
【海归招聘】投行四大面试9大Tricky Questions答题思路
【海归招聘】投行四大面试9大Tricky Questions答题思路顶尖投行四大咨询公司的面试环节总离不开几条考验你的临场反应的tricky questions,Tricky Questions 答题思路你的弱点事什么？你觉得为什么我们不会招聘你成为我们的员工？这是一个很难的题目。
虽然申请者可以经过提前准备来得到正确的答案，但是很多候选者依然表现不如理想。
第一，不要说你没有任何的缺点，这样会让人觉得很奇怪，而且这也是不正确的。
第二，不要说一些笨蛋的话，比如说“kryptonite”，这不会让你的面试官感到愉快的。
第三，不要说类似“我工作太过于勤劳了”你要描述你真正的缺点，否则你的面试官眼睛会不停的围着你打转。
回答这个问题的关键是选择一下关键点，你可以通过自己努力去改进的。
选择一下看起来是缺点，但是通过自己努力可以变成优点的。
你觉得你的最大的失败是什么？这里是另外一个难题。
面试官想了解你曾经的失败，但是跟愿意知道你从失败中学习到什么。
不要对你的工作能力贬低。
比如说：不能说我的公司金融课程不及格，因为这很难变成你的优点的在描述你失败那一部分时候要尽量保持简短，然后把问题转变成你从失败中学习到什么。
如果你要描述两个失败，选择一个发生在过去的事情，因为这样可以让你有更多时间从中学习。
如何你选择的是刚刚发生在上周末的事情，你很难说服别人你在类似的事情里面从中学习，并取得成功了。
对于所有的优点以及缺点的问题，一定要牢记以下基本点。
不要选择一些缺点是会影响你公司声誉或者财务的运作的为什么你的GPA这么低？这是一个压力测试题目，无论如何不要承认你的GPA低，或者因为GPA低而感到抱歉。
不要企图找借口除非你是有特别的原因才会让你GPA这么低的（双亲过世，受到严重的伤害）表现出你已经充分准备好，随时进入金融行业，并且准备放弃所有的社交生活。
或许你的GPA不是4.0但是你依然为自己感到自豪，因为你觉得你拥有别人并没有的技能。
投行面试问题总结
面投行所遇问题汇总
1、谈谈对投资银行的理解
2、CPA、证券从业的问题
3、你为什么选择投行？为什么选择**证券？做投行有什么优势？
4、做投行需要哪些素质
5、家乡，家庭情况、背景（周围同学、学长学姐的就业情况，这种人脉资源也被问过一次）
6、实习相关（要仔细准备，可能会问得很细，甚至问当时的同事、领导名字是什么；或者
是不同行业实习经历的横向比较）
7、描述你的性格个性
8、你的兴趣和特长
9、校园活动（只被问到一次）
10、我发表的论文（只被问到一次）
11、你代表公司说两点最重要的因素说服拟上市公司将项目给你（只被问到一次）
12、你的优点、缺点（只被问到一次）
13、你最成功或失败的一件事（彪哥被问到，我从来没被问过）
14、证监会最新政策、市场最新动态（靠平时关注和积累，只被问到一次，说郭树清的分红政策）
15、上市条件（跟我一组面试的同学被问到，我从来没被问过）
16、一个企业IPO的大致流程（从尽调到持续督导，被问过一次）
17、如何挑项目，说最重要的三点（跟我一组面试的同学被问到，我从来没被问过）
其他需要准备的：
1、近5年的职业规划
2、财会知识：宏观问题——比如三张报表的勾稽关系、如何看报表，微观细节问题
3、招股书相关内容，最近的过会、上市情况。
投行专业面试问题
一、经典问题1、为什么要做投行２、您做好了做投行得准备没3、您觉得您适合做投行么4、您在实习期间得感悟５、您准备怎么去做投行6、您得专业背景有啥适合做投行得二、更经典问题一个项目最重要得就是什么?1、行业前景２。
公司得未来前景与可持续盈利能力３.独立性与合规性问题做投行最重要得就是什么?＊＊ED说过:1.沟通能力２、财务与法律基础3、行业分析能力４、学习能力*＊＊ＨR说过:1、沟通能力２、韧性3。
学习能力＊＊又说了,诚信与品德也很重要二、专业问题1.实习＊＊时间,您对投行得认识投行得作用:在于综合协调其她中介机构得意见,根据自己得尽职调查结果,为公司上市制定合理得改制方案与上市方案,为推动企业执行;讲个好故事,将拟上市公司从丑小鸭变成美丽得天鹅,卖个好价钱1.投行与ｐe得区别Ｐｅ作为投资者,投行仅就是中介机构,确切得讲,投行就是为ｐe等投资者服务得。
具体区别:投资阶段更靠前,投资行业范围更广泛,投资时间更长线,对企业提供得增值服务更贴切,这就是PE 得价值所在。
2。
BS,ＩS与ＣＦS三个表哪个最重要1.资产负债表:反映企业在某一特定日期财务状况得(静态)会计报表,通过该表了解企业资产(负责)总量及结构、投资者(老板)所拥有得权益。
2、利润表:反映企业在一定会计期间得经营成果得(动态)会计报表,可以一目了然从表中瞧到经营业绩形成过程,收入来源、成本费用消耗、净利润等、3。
现金流量表:反映企业在一定会计期间现金与现金等价物流入与流出得会计报表、表中项目从不同角度反映企业业务活动得现金流入与流出,弥补了资产负债表与利润表提供信息得不足(了解净利润得质量)。
以上“三表”既有侧重又相互补充,真正要说出那张表最重要,一定没有唯一得答案,一定就是因(使用者立场)人而异、1.如何从报表瞧公司财务就是否舞弊(报表瞧公司财务得问题)1、与同类公司或与公司历史比较,毛利率明显异常;2。
货币资金与银行贷款同时高企;3.应收账款、存货异常增加;4.估算得应交所得税余额与实际余额相比相差甚远;5。
投行常见面试问题
投行常见面试问题一、经典问题1、为什么要做投行2、你做好了做投行的准备没3、你觉得你适合做投行么4、你在实习期间的感悟5、你准备怎么去做投行6、你的专业背景有啥适合做投行的实习**时间，你对投行的认识投行的作用：在于综合协调其他中介机构的意见，根据自己的尽职调查结果，为公司上市制定合理的改制方案和上市方案，为推动企业执行；讲个好故事，将拟上市公司从丑小鸭变成美丽的天鹅，卖个好价钱二、更经典问题一个项目最重要的是什么？1.行业前景2.公司的未来前景和可持续盈利能力3.独立性和合规性问题做投行最重要的是什么？**ED说过：1.沟通能力2.财务和法律基础3.行业分析能力4.学习能力***HR说过：1.沟通能力2.韧性3.学习能力**又说了，诚信和品德也很重要招股说明书的亮点充分尽职调查基础上客观真实、完整的披露发行人的基本信息，不过于渲染企业的盈利模式亮点要写透风险部分最重要，发行人基本情况是基础，业务与技术是难点，同业竞争与关联交易是审查要点，财务部分是分析点，募集资金是未来发展的亮点企业的盈利模式亮点要写透。
优秀企业的盈利模式应具备这么几个特点：核心竞争力有门槛，大市场，可复制（产品线延伸的可复制性及销售区域的可复制性），难模仿，可延伸（产业链的延伸，即由制造环节向服务延伸或向特许权外包延伸等）。
要从以上五个方面来写明盈利模式的亮点。
门槛可能有多种，可以是技术门槛，也可能是渠道门槛，还可能是认证周期的门槛，甚至可以是消费习惯（如携程）。
如果没有技术门槛，则至少这个企业应具备明确的先发优势。
如携程、如分众。
债券和投行的关系相同点：实现资金融通，帮助企业直接融资不同点：1.融资方式债务融资和权益融资2.项目周期不同3.发行门槛不同3发行市场不同职责，实习期间遇到什么问题，以及自己是如何处理的，学到了什么为客户创造最大的价值，在此基础上实现自身的最大价值，具体的职责包括1.完成项目负责人布置的任务2.及时与发行人沟通相关问题和控制项目进度3.团队协作项目中最可能出错的地方在哪里，对企业新出现的问题没有及时发现，导致后果不断扩大。
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
【海归招聘会】投行面试高频问题及解答框架
1. 他们会问你对该职位了解多少
你认为交易大厅里的分析员一天的工作通常都是什么样子的？
如果你希望你的答案让人印象深刻，你需要提供更多的细节。
让面试官知道你了解高级交易员和初级交易员之间的区别。
比如你可以这样说：
“基于我在德意志银行做暑期实习生时候学到的经验，我得说对于一个初级交易员和一个高级交易员，每天要做的工作是非常不一样的。
这个职位的头几年，大量的时间似乎都花费在收集数据和更新金融模型，以及阅读行业相关的报告上——这是为了加深对该行业的了解。
在达到专业水准并发展出强大的关系网络后，该职位的职责会增加，而我也期望能够承担更多的职责——在市场中进行交易——跟其他交易员讨论市场的主要变动，同时继续监控市场动态。
”
2. 他们会问你与应聘公司相关的问题
“是什么吸引你来高盛？你为什么不去德意志银行或者摩根大通？”
研究你要应聘的公司，以及它的竞争对手。
你需要了解该公司的一些基本信息，以及为什么它能够在行业中表现出色。
如果可能，把你的答案跟你以往的工作经验联系起来，这会让你表现更加出色。
在面试前用Google研究应聘公司情况的候选人不在少数，但如果你能够花时间去了解一下周边行业，你就的把握会更大。
比如：
“诚然，这两家公司都被认为是行业领军企业，不过，过去两年内所支付的290亿美元诉讼和解费用侵蚀了摩根大通的一度创纪录的盈利状况，这大幅度削弱了其风险承担能力。
相反，高盛目前具有更高的风险承担能力。
我为此感到兴奋，因为这意味着公司能够允许交易更具有挑战性的产品。
”
“大体上讲，我选择高盛是因为它的声誉。
不论是高盛的历史，还是名誉，在市场上都是无可匹敌的。
我甚至看到‘’网站将高盛评为北美和英国最受尊敬的公司。
”
3. 他们会探究你掌握多少市场知识
今天如果你有2万美元，你会如何进行投资？
回答这个问题的时候千万不能过于简短。
你需要把你的想法全盘脱出，谈论各种可能的投资类型以展现出你对行业深刻的认识。
是的，你可以直接给出一个结论，但这必须要从你之前对各种投资产品的评估的基础上引出来。
这也是你从众多候选人中脱颖而出的绝佳机会。
在权衡各种投资产品的利弊之后，选择其中的一种，同时用目前市场行情来支持你的选择。
比如：
“投资2万美元的最佳方式取决于希望从投资中获得什么。
如果你希望你的资产能够随着时间平稳增长，那么我想企业债券是一个非常好的选择。
”
“相反，如果你希望获得伴随高风险的高回报，我建议你看看新兴市场并研究其中具有很好方向和潜力的小型公司，这些公司必须有健康的财务报表。
在过去几年中，清洁能源行业的发展令人印象深刻，所以这可能是一个不错的投资点。
像Think Lite和SilverSpring Networks这样的美国公司都在提供更高能效解决方案，在过去的3年中获得了超过1000%的成长。
”
还有一些相关问题可能被问到：
请从低到高评估一下各种产品的风险水平？
你的客户是一家对冲基金，他们要求你分析一下FTSE 100指数中某一特定行业的波动性以确定交易策略。
你会如何分析？
你能够告诉我最近的一些新闻，以及这些新闻如何影响到德意志银行吗？
4. 他们会问你与他们所需技能相关的问题
你能够跟我说说你某一次跟一位愤怒的客户打交道的事情吗？
这是一次讲故事的机会。
你需要先铺设好场景，然后解释你是怎样积极应对当时的处境以及最后达到了什么样的结果，重点强调你在这次经验中学到了什么。
描述当时的情景；解释在这个情景中你的任务；明确你为了解决问题采取了什么行动；最后阐述结果——这是回答该问题的框架。
比如：
“我在摩根大通进行10周实习的时候，我接到一个客户的电话，那位客户固执地认为我采取了一系列与他的指令相反的操作，虽然我的每一个步骤都是按照他的指令来操作的。
他甚至还威胁要让我的上司辞退我。
我没有反击他，也没有试图谴责他，我深深吸了一口气，向他承认这其中的确有问题需要处理，同时我也非常关心如何能够找到解决方案。
我为这个问题为他带来的压力而道歉，这平息了他的怒火；他开始理性地跟我对话。
这给了我时间，让我能够跟他达成一个解决方案。
我快速地向我的经理汇报情况，并建议我们不仅取消这次交易，同时减免该客户的下一次交易佣金，以提高该客户的满意度。
在与后台确认交易已经顺利取消后，我通知了该客户，而他最后竟然表扬我工作做得很好。
”
5. 他们会问你你的职业发展目标
你对未来5年的职业发展是如何规划的？
这个问题并没有正确的答案（跟这个问题类似：什么是最重要的？金钱，名誉还是知识？）。
你的面试官其实想要得到一个你对职业发展的诚实的回答，以了解你的计划是否与公司匹配。
他们不需要听到你说你希望在这个公司干一辈子，不过也不想听到你准备在6
个月后出国做环球旅行。
跟很多其他事情一样，你需要寻找一个平衡。
展示出你对公司的忠诚，以及想要进步的动力。
“我想说我的职业发展规划是希望获得一个能够激励我，让我感到兴奋的职位，这份工作允许我在现有的能力上进一步提升。
我知道作为一个初级交易员对目前的我而言非常理想，因为这个公司和这个职位能够让我在接下来的几年里尽我所能地学习。
向更多的资深人士学习并与他们交往，这能够帮助我成为这一领域的专家，也希望能够在公司能晋升到更高的层次。
在我成长的同时，也能够推动公司业务成长。
”
6. 他们会问你奇奇怪怪的问题考验你的问题解决能力
你如何用3刀将一个蛋糕切成8块？
这个问题（以及所有这种与职位无关的问题）的绝妙之处在于，它没有一个正确答案。
你不需要提供一个正确答案，就能打动面试官。
他们想要你平静地说出你的解决思路。
你在展示你的大脑是如何工作的；如果你很容易慌张，然后开始说你不知道，这也可以，因为这跟职位无关，不过这不是一个好信号。
这一类别的其他问题包括：
伦敦一共有多少支牙刷？
为什么井盖是圆的？
在一架波音747里你能装多少网球？
你面试完开车回家的路上撞死一只猫的概率是多少？。