Brining up Father in IB during Interview

I would stay away from mentioning this - not because it's a bad thing, but you will run into a handful of interviewers who will see that as nepotism even if it's not. Just high risk low reward for a check the box type of question.

Why IB is asked solely to make sure you know what it is/what you're getting into, the cookie cutter answers are fine 

I've done this before, not always part of my response, but sometimes I mentioned it to show my awareness of what the position entails in terms of workload and hours.

If you really want to contextualize your knowledge or whatever, you could just say your brother or cousin or whatever works in IB. If you make the person sound less powerful, you won't get the possible nepotism ding. Make sure to mention they don't work at the firm to which you are applying, they work at "another" bank. 

I actually like it.

Shows that you know what the job entails.

tbh if i was the person interviewing you i'd assume that the only reason you got into your college (target or not is daddy's money/connections) & then the only reason you got interview was cuz of daddy. 

Don't bring it up, even if it's actually how you got interested in banking

There will always be people who will take what you had with a pinch of jealousy and/or will judge you because they were not fortunate enough to have been born in a family, which could afford things (I’m not judging here, rather stating this as a fact)

I’d be careful mentioning this when interviewing for entry level positions

Kind of depends how the interview winds up going.  If you ace all of your technicals and are generally personable, it'd be neutral - wouldn't ding you for it, but it wouldn't help you either.  If you aren't impressive, I'm going to assume that daddy got you the interview.

Used to do this, but I wouldn’t specify that it was my father. As part of the background / “why” answers I’d say something like “I grew up with a relative who was in the industry, and I’ve been able to gain a much better understanding of what they do, culture, etc”... definitely don’t lie, sometimes people would ask what relative, where they worked, etc. and I’d share more, but I at least felt that it helped me not sound like I was using nepotism to get in