Is M&I 400 enough if I understand the rationale?
Is M&I 400 enough if I understand the rationale behind each questions and the answers or are there IB questions it doesn’t cover? Could you even get by on memorization for some parts and not fully understanding the rationale? I ask as I realized WSO and BIWS has a lot of stuff (primarily details) that’s not on M&I 400.
Also, do interns need to know the advanced section of M&I 400 or just the basic one?
Are they likely to ask questions not on M&I 400?
Yes you should know the 400 question guide and it will help you in interviews but two things to mention here. First is that you should comfortably know the concepts: meaning you should be able to explain the underlying concepts to other people who are clueless and explain them(in case you get pulled into the weeds). I would say a lot of the advanced Merger Model and LBO questions are unlikely to get asked but it's not necessarily off the table. I would also suggest not stopping your learning there, though there are some things the 400 question guide goes too deep on, there are also many things it excludes(such as a sell side M&A process and deliverables) so don't stop with the guide.
Thanks for the info. Since the guide doesn’t cover everything, what other resources would you recommend so that I’m fully covered?
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