Excel Modeling Test for analyst at a equity/debt shop

Hi there!

I'm interviewing for the capital markets analyst position at a equity/debt shop (JLL/CBRE/C&W) and was told to come in for an excel modeling test after 2 interviews. Came from a non-finance background but had 2 internships with IBD and PE. Wanted to know what I should expect in the test. DCF, acquisitions, development, debt underwriting, etc. Thoughts?

Thanks a lot!

 
Best Response

I'm just thinking out loud here, but:

1) Be able to build out an amortization table with dynamic assumptions like interest only periods, etc.

2) Be able to go from EGI -> Operating Expenses -> NOI -> Cash Flow from Operations ->Before Tax Cash Flow -> calculating things like DSCR, Debt Yield, and Current Loan Balance.

From there, they might have you go through a disposition scenario where you calculate unlevered and levered returns (IRR, cash on cash, equity multiples) based on a terminal cap rate and hypothetical sales price.

 

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