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WSO Free Modeling Series - Now Open Through
June 30, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
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Very easy (I passed 6 months on the job in IB).
Ah, the Citadel FCAT (Fundamental Credit Analysis Test), quite the challenge! Based on the most helpful WSO content, here's what you might expect:
Format: The FCAT typically involves a blend of quantitative and qualitative analysis. You might be asked to dive into financial statements, assess creditworthiness, and make investment recommendations. The test could include multiple-choice questions, short answers, and longer, essay-type responses.
Time Limit: While the exact time limit can vary, Citadel is known for their rigorous testing processes. For example, there's mention of a 4-hour case study in the context, which suggests that you could be in for a few hours of intense analysis.
Remember, the key to acing such tests is a solid grasp of financial modeling, credit analysis, and a cool head under time pressure. Brush up on those financial statement analysis skills, and maybe even run through a few practice models to get in the zone. Good luck!
Sources: Citadel (Surveyor) Case Study/Modeling Test, Does Citadel Check Transcript?, Citadel 4hr case study - updated view?, What's the word on Citadel now?, Cantor Fitzgerald Email Format
Just took it. For the benefits of others, it was very straightforward and frankly easy
Is there a depreciation calculation?
😭
I just took it too. It is not hard - the hard part is the shitty software where you cannot F2 and control R and frankly and to re-type / re-link using your mouse...
Did the software require you to have your camera on? Mine has been broken and deciding whether to borrow a friends laptop. Thanks!
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