I've heard that there are LBO modeling tests when interviewing for some lateral positions. Are you usually provided with a prompt and a template? Or are you required to build to model from scratch off the prompt?
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I've done two, one of each variation you mentioned. The easier one was a clearer template with specific lines to fill out, the harder one just gave you the basic assumptions and you had to do it from scratch. Both 1 hour long. Would recommend learning to do them from scratch.
Was given one for a top JPM coverage group over the summer. They gave you the P&L and B/S but LBO analysis was entirely from scratch. Had like 3 hours to complete
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