Margin for error in model test
Recently took a model test and got the mechanics all down but accidentally forgot to add one row for the sweep of the third lien debt tranche (added FCF + revolver change) but should have been FCF + revolver + term loan A paydown which cause the IRR to be slightly lower at exit.
For anyone that has reviewed modeling exams in the past, are you expecting a 100% correct model to advance to the next round or is one error or two enough to make it past
edit: also took this test on Friday so haven't heard back yet. Will they send out rejection emails through the headhunter?
Would be shocked if they even notice, tbh.
At least in our modeling test, something like that wouldn't be a deal-breaker.
Third lien debt? In this economy?
Depends on the rest of the pool. Most would let it slide but in the event (which is unlikely) there are enough people who have passed in flying colors that they've hit their target # for the next round, then they might ding you. Again - very unlikely and it's usually a sniff test if someone is technical enough.
What kind of fund was this if you dont mind me asking
Out of curiosity, what fund was this for? Happy to PM you if you prefer.
why would this matter? pretty common
Curious if we are in the same process. Also, I’d imagine some funds are more sticklers than others
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