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Summer Analyst IBD Interview Questions


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If two random variables have a uniform probability distribution between 0 and 1, what is the probability that their product is less than 0.5?

4 Answers

This probability cannot be calculated analytically, or at least not by using the transformation U = X1*X2, V = X2, marginalizing out V, and integrating the resulting density for U from 0 to .5. You can evaluate the integrals numerically though, yielding the result: 0.8465. I think that all the interviewers desired was to say that if either random variable is less than 0.5, certainly the product will be less than 0.5, so we know the probability that the result is less than 0.5 is at least 0.75.

The answer is 1/2 + 1/2 * ln(2) and the analytical derivation is trivial. All you need to know is how to integrate dx/x.

here is a nice blog post summarizing that very same question. there are a bunch of other interview questions too.

Can you tell us a time where you had to show leadership skills?

Walk me through a DCF, tell us about a time you had to do grunt work

Questions were very typical for investment banking interviews. They avoid the question of why do you want to work here because they know that you don't want to.

Tell me why you pick the university you attended?

Walk me through a company valuation process.

How would you value a company, what M&A deals have you been following lately, describe a detailed problem you had to solve, describe a problem you encountered working in a team and how you went about solving it, what do you think IBD analyst job would be, what qualities would you need

What do you think is the solution to the European Sovereign Debt Crisis?

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