Houlihan Lokey FAS Analyst Technical Exam

I have a second round interview coming up for Houlihan Lokey FAS Analyst position and I have been told that I have to take a "technical exam". I asked the HR representative for what I should expect, however she just told me that it was going to be accounting and finance (we all know that that's a broad answer). Does anyone here have more details on what I should expect? If you do, I would appreciate it if you shared some insight with me. Please try to be as specific as possible. Thanks!!!

Comments (20)

Oct 4, 2010

Welll.....I don't know about this exam in particular, but if I were going to make an exam like this here is what I would put on it.

1 - take about a dozen pyschometric tests where they have you add up numbers from a graph really fast or show you a bar chart and you have to estimate third quarter revenue from sales and expenses at a monthly level, that sort of thing.

2 - Read up on basic accounting - think what companies report to the SEC. Remember to know what a cash flow, income statement, etc. are. Forget what the third one is, but just know how all the columns add up, why they are important, etc.

3 - Know your very basic finance inside and out. You could memorize the greeks or black-scholes but they are unlikely to be able to ask you that on a multiple choice exam. Think time value of money, rule of 70 that sort of thing.

Try this:

"If Lisa is working as a bartender and makes $40 an hour in tips and works for 6 days a week, but makes $100 on Saturdays how many days must she work before she can retire with an annuity worth 50,000 a year until she's 95? Assume she can invest her savings in a savings account that yields 5 percent per annum and the inflation rate is 1 percent."

Nov 5, 2010

bump

Nov 5, 2010

pro forma financial statements, depreciation, interest calculation, EV calculation, multiple calculations, NPV and IRR calculations,

all straight forward, just to test to see if you know it.
hope this came in time.

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Nov 5, 2010

Are you interviewing for corporate finance this summer? I have heard the exam is based off the financial statements.

Oct 4, 2010

Oh and Lisa starts the experiment as a 25 year old waitress, and expects no salary increase or tips increase despite inflation.

Nov 5, 2010

Bump! Have the same test coming up next week. Anyone have any insight to this?

Nov 5, 2010

The test was one hour. The first half was a mega question. They give you a scenario and last years 3 financial statements and they tell you to fill in this years financial statements.

The last half was a bunch of short answer questions covering valuation.

Nov 5, 2010

which office are you interviewing for?

Oct 4, 2010

i remember my friend going into hlhz corp had to take the same test too.

I think he said it was a lot accounting (debit, credit kind of stuff, and how things goes thru 3 statements)

some finance-> NPV, basic finance stuff.

I think the test lasts about 2-3 hours

Nov 5, 2010

The test was one hour. The first half was a mega question. They give you a scenario and last years 3 financial statements and they tell you to fill in this years financial statements.

The last half was a bunch of short answer questions covering valuation.

Nov 5, 2010

Interviewing at the Los Angeles office.

Oct 4, 2010

Thank!!! for your insights they are very helpful. The floor is still open for more info for those yet to comment :)

Nov 5, 2010

The test was one hour. The first half was a mega question. They give you a scenario and last years 3 financial statements and they tell you to fill in this years financial statements.

The last half was a bunch of short answer questions covering valuation.

Oct 12, 2010

bump please

Nov 5, 2010

The exam was accounting heavy, with questions like how to calculate WACC, DCF and other simple calculations. Brush up on your DCF and how to get to terminal value as well as how to account for debt/equity financing and you should be fine.

Aug 24, 2017

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Sep 25, 2017
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