Quantitative Analyst Test Advice
Fellow Monkeys,
I have gone through a few phone interviews for a 'Quantitative Analyst' role at a locally based, but publicly traded, commercial bank, up here in Seattle. Interviews went well and now they want me to take an Excel-based exam. They are literally going to email me an Excel spreadsheet and 3-4 hours later I will send it back to them with the 'answers', 'formulae', etc.
Anyone ever had a test/exam like this for a similar position?
The bank specializes primarily in commercial banking. I do not believe they have an 'official' so to speak investment banking division. Nonetheless, The phone interviews asked a fair amount of questions regarding valuation, building a DCF, arriving at a discount rate, SQL, and derivatives in general.
The job mentions a lot of quant analysis regarding financial instruments...such as Mortgage Service Rights (MSR's), derivatives, fixed income securities, mortgage banking, etc...and managing interest rate risk to ID risks/strategies to protect/enhance the bank's earnings/equity.
Any thoughts? Would really appreciate any advice, suggestions, etc.
Thanks in advance.