Just had my excel modeling exam for HL (analyst). 3 statement model, DCF and a sensitivity analysis for WACC.
Got through the 3 statement and DCF fine, but ran out of time on the sensitivity analysis and slapped some hard coded numbers down in tabular form. Not sure what to think, Am I a certainty to get dinged, or potential for fit to override a 100% correct Excel exam?
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Definitely interested in this
can confirm - bombed
:/
Is this for a lateral hire or first year analyst?
Lateral, but into either A1 or A2
There is always a chance fit may overcome modeling test performance but in order for that to be the case, you need to have had a great first round and weak competition. With that being said, going forward, as someone who’s taken/passed multiple modeling tests, I would avoid hardcodes at all cost and focus more on proper structure.
Appreciate that, will definitely focus more on the structure next time around. Out of interest, how complicated were the general exams you sat? Normal 3 hour format, 3 statement into a DCF/LBO?
Difficulty of exams has varied greatly by firm. Most modeling tests were 1-2 hours where most assumptions were given but you had to build out to solve for the other assumptions. A few were full 3 statement models and for those the focus was just making sure the statements linked correctly and the model made sense as opposed to looking nice. At first, I just used WSP and random modeling tests I could find online. Easily found 5+ modeling tests and then since then I have also been practicing with past modeling exam materials given to me. Overall, modeling exams aren’t that hard as long as you understand the basic links of the accounting statements and debt.
Hey monkeybiz - hope your lateral efforts ultimately went well. I'm in a similar boat now and was wondering if you wouldn't mind sharing some of the materials / practice models you used during your prep?
Any recommendations on where to find practice modeling tests? Are they found easily online?
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