HF Modeling exam / test question

Hi all, 
Has a question on the typical in person modeling exam for most HFs. I know this has been discussed at length in other posts but just wanted to confirm if they ever ask for an LBO or M&A model (saw a comment saying this happened at a few places)?


Otherwise I am assuming it is build a 3 statement projection with ~3 years of quarterlies,  model out bear base bull, and slap some multiples on it / sensitivity and then engage in discussion over revenue and cost drivers at the end. Otherwise in some cases if necessary, run a DCF (low/no profit growth co.). 


Lastly, how detailed do you try to get on the things that can be summarized with percentages? (working capital, D&A, etc.) 


And then I assume when it is a case study/take home you will want to build everything out in as much detail as possible (or at least if it is at all somewhat relevant to the discussion) 


Thanks




 

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