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12 Apr 2020, 22:10
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- Candidate must have University GPA over 3.2 and must not have an MBA degree
- Candidate must (or will) have graduated from a Top 15 University
- Candidate must have demonstrated interest in finance
- Candidate must have the ability to work long hours, be highly analytical, and become a master of Microsoft Excel
- Candidate total years of experience must be less than 3 years
John joined the bank as an Analyst when he was 22. One year later he asked for promotion to Associate. Is it possible that he will be promoted?: Yes
Cameron has never worked with this particular bank. He is 28 years old with 4+ years of investment banking experience and an MBA from a two-year program outside of the top 15 business schools. Is it possible for Cameron to be eligible to apply for the position of Principal?: Yes
George was promoted from Analyst to Associate 3 years ago. Assuming George has remained in his position as Associate, is he eligible to be promoted to Principal?: No
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
75%
(hard)
Question Stats:
43% (02:53) correct
57%
(02:58)
wrong
based on 2135
sessions
History
Date
Time
Result
Not Attempted Yet
1. Using all the information provided, select Yes if the statement about eligibility/promotion is possible. Otherwise, select No.
| Yes | No | |
| John joined the bank as an Analyst when he was 22. One year later he asked for promotion to Associate. Is it possible that he will be promoted? | ||
| Cameron has never worked with this particular bank. He is 28 years old with 4+ years of investment banking experience and an MBA from a two-year program outside of the top 15 business schools. Is it possible for Cameron to be eligible to apply for the position of Principal? | ||
| George was promoted from Analyst to Associate 3 years ago. Assuming George has remained in his position as Associate, is he eligible to be promoted to Principal? |
ShowHide Answer
Official Answer
John joined the bank as an Analyst when he was 22. One year later he asked for promotion to Associate. Is it possible that he will be promoted?: Yes
Cameron has never worked with this particular bank. He is 28 years old with 4+ years of investment banking experience and an MBA from a two-year program outside of the top 15 business schools. Is it possible for Cameron to be eligible to apply for the position of Principal?: Yes
George was promoted from Analyst to Associate 3 years ago. Assuming George has remained in his position as Associate, is he eligible to be promoted to Principal?: No
Joe has 5 years of experience at a large bank doing insurance underwriting and modeling. He is currently at a top 3 business school (Harvard Business School), and wishes to apply for the position of Principal once recruiting begins in the fall.: Not Conclusively Eligible
Brian studied computer science with a GPA of 3.4 from a Top 15 University. After the internet bubble burst, he applied his analytical skills to learning excel and financial modeling in his free time. He is applying as an Analyst during his senior year in school.: Conclusively Eligible
Patricia has been working in healthcare consulting for 2.5 years. While consulting has been eye-opening and intellectually stimulating, she is growing tired of living out of a hotel and always being on the go. Some friends suggested she consider a job as an investment banking analyst - less travel but more hours into the weekends. Curious, she decides to pass her resume along to her friend for the position of Analyst.: Not Conclusively Eligible
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
35%
(medium)
Question Stats:
76% (01:55) correct
24%
(02:08)
wrong
based on 1674
sessions
History
Date
Time
Result
Not Attempted Yet
2. For each of the following statements, select Conclusively Eligible if the candidate is absolutely eligible for the position he/she is applying for. Otherwise, select Not Conclusively Eligible.
| Conclusively Eligible | Not Conclusively Eligible | |
| Joe has 5 years of experience at a large bank doing insurance underwriting and modeling. He is currently at a top 3 business school (Harvard Business School), and wishes to apply for the position of Principal once recruiting begins in the fall. | ||
| Brian studied computer science with a GPA of 3.4 from a Top 15 University. After the internet bubble burst, he applied his analytical skills to learning excel and financial modeling in his free time. He is applying as an Analyst during his senior year in school. | ||
| Patricia has been working in healthcare consulting for 2.5 years. While consulting has been eye-opening and intellectually stimulating, she is growing tired of living out of a hotel and always being on the go. Some friends suggested she consider a job as an investment banking analyst - less travel but more hours into the weekends. Curious, she decides to pass her resume along to her friend for the position of Analyst. |
ShowHide Answer
Official Answer
Joe has 5 years of experience at a large bank doing insurance underwriting and modeling. He is currently at a top 3 business school (Harvard Business School), and wishes to apply for the position of Principal once recruiting begins in the fall.: Not Conclusively Eligible
Brian studied computer science with a GPA of 3.4 from a Top 15 University. After the internet bubble burst, he applied his analytical skills to learning excel and financial modeling in his free time. He is applying as an Analyst during his senior year in school.: Conclusively Eligible
Patricia has been working in healthcare consulting for 2.5 years. While consulting has been eye-opening and intellectually stimulating, she is growing tired of living out of a hotel and always being on the go. Some friends suggested she consider a job as an investment banking analyst - less travel but more hours into the weekends. Curious, she decides to pass her resume along to her friend for the position of Analyst.: Not Conclusively Eligible
6
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
65%
(hard)
Question Stats:
45% (00:57) correct
55%
(00:55)
wrong
based on 1859
sessions
History
Date
Time
Result
Not Attempted Yet
3. Jack joins the bank fresh out of college at age 22 as an Analyst. What is the minimum number of years for Jack (from age 22) before Jack can become a Principal at this same bank?
| 2 | |
| 4 | |
| 4.5 | |
| 6 | |
| 6.5 |
07 May 2024, 21:58
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Question 3.
3. Jack joins the bank fresh out of college at age 22 as an Analyst. What is the minimum number of years for Jack (from age 22) before Jack can become a Principal at this same bank?
He is fresh out of college and has joined as an analyst (so he has no MBA).
To become an Associate, he needs at least 2 years.
To become a Principal, he needs at least 2 more years of experience (since 4+ exp years for Principal)
Plus he needs 2 years for his full time MBA.
So in all it will take at least 6 years.
ANSWER: 6
3. Jack joins the bank fresh out of college at age 22 as an Analyst. What is the minimum number of years for Jack (from age 22) before Jack can become a Principal at this same bank?
He is fresh out of college and has joined as an analyst (so he has no MBA).
To become an Associate, he needs at least 2 years.
To become a Principal, he needs at least 2 more years of experience (since 4+ exp years for Principal)
Plus he needs 2 years for his full time MBA.
So in all it will take at least 6 years.
ANSWER: 6
07 May 2024, 21:53
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Question 1.
1. Using all the information provided, select Yes if the statement about eligibility/promotion is possible. Otherwise, select No.
John joined the bank as an Analyst when he was 22. One year later he asked for promotion to Associate. Is it possible that he will be promoted?
John has 1 year experience as an analyst in this bank. Perhaps he has previous experience as an analyst at another bank? Even if he doesn't, we know that this restriction can be relaxed if 2 associates recommend the candidate strongly.
Hence it is possible that John will be eligible for promotion (provided he meets all other necessary conditions) and will be promoted (whatever their sufficient criteria may be)
ANSWER: YES
Cameron has never worked with this particular bank. He is 28 years old with 4+ years of investment banking experience and an MBA from a two-year program outside of the top 15 business schools. Is it possible for Cameron to be eligible to apply for the position of Principal?
An MBA and 4+ years experience are necessary. He has these. Hence it is possible for Cameron to be eligible to apply for the position of Principal (provided he satisfies other necessary criteria too - experience managing analysts and 3 strong recos). We don't know about these other necessary conditions. But from what we are given, we know that it is POSSIBLE that he will be eligible.
When will it not be possible that he is eligible? Say we know that he doesn't have an MBA. Then it is not possible that he is eligible, even if he meets all other necessary conditions.
ANSWER: YES
George was promoted from Analyst to Associate 3 years ago. Assuming George has remained in his position as Associate, is he eligible to be promoted to Principal?
An analyst should not have an MBA. George was an analyst so he did not have MBA. He has remained here as an Associate for 3 years so he did not take a break for MBA. So he still does not have an MBA. Hence he cannot be promoted to a principal position.
ANSWER: NO
1. Using all the information provided, select Yes if the statement about eligibility/promotion is possible. Otherwise, select No.
John joined the bank as an Analyst when he was 22. One year later he asked for promotion to Associate. Is it possible that he will be promoted?
John has 1 year experience as an analyst in this bank. Perhaps he has previous experience as an analyst at another bank? Even if he doesn't, we know that this restriction can be relaxed if 2 associates recommend the candidate strongly.
Hence it is possible that John will be eligible for promotion (provided he meets all other necessary conditions) and will be promoted (whatever their sufficient criteria may be)
ANSWER: YES
Cameron has never worked with this particular bank. He is 28 years old with 4+ years of investment banking experience and an MBA from a two-year program outside of the top 15 business schools. Is it possible for Cameron to be eligible to apply for the position of Principal?
An MBA and 4+ years experience are necessary. He has these. Hence it is possible for Cameron to be eligible to apply for the position of Principal (provided he satisfies other necessary criteria too - experience managing analysts and 3 strong recos). We don't know about these other necessary conditions. But from what we are given, we know that it is POSSIBLE that he will be eligible.
When will it not be possible that he is eligible? Say we know that he doesn't have an MBA. Then it is not possible that he is eligible, even if he meets all other necessary conditions.
ANSWER: YES
George was promoted from Analyst to Associate 3 years ago. Assuming George has remained in his position as Associate, is he eligible to be promoted to Principal?
An analyst should not have an MBA. George was an analyst so he did not have MBA. He has remained here as an Associate for 3 years so he did not take a break for MBA. So he still does not have an MBA. Hence he cannot be promoted to a principal position.
ANSWER: NO
