Two interviews on the same day?

So I applied to an MBB, took the PST (with minimal preparation) but got through. They told me that I will be taking two interviews on the same day...one in the day and one in the afternoon. Do you suppose that both constitute Round 1, or the first interview is Round 1 whereas the second interview is Round 2?

Also, I have close to no knowledge of finance/accounting/management. Will this be detrimental to working at MBB without additional education (i.e. an MBA). In particular, this is an experienced hire so I'm not sure what level of knowledge they are looking for but anyways.

Thank you!

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