Exhibit A · The question you get wrong
Everyone reads the same 300 questions. Then the numbers change.
The technical canon is finite and you have already memorized it. So we rebuild each question from its underlying concept, with a different capital structure and different figures, every single time.1 You either understand the mechanic, or you find out here rather than in the room.
First five questions free when it opens. No card. See a graded answer
1 Calibrated against the technical questions asked at Goldman Sachs, Evercore, Centerview, Moelis, Lazard and PJT Partners. We are not affiliated with, endorsed by, or sponsored by any of them.
Exhibit B · A graded response, verbatim
Q. Depreciation rises by $12. Tax rate is 24%. Walk me through the three statements.
- Pretax income falls by 12; net income falls by 9.12 “so you take twelve off pretax, that’s nine and change after tax” Covered
- Depreciation is added back as a non-cash charge “you add the twelve back in operating” Covered
- Cash rises by 2.88 Not stated Missed
- The increase is the tax shield Not stated Missed
Interviewer follow-up So does the company end the year with more cash, or less? Say the number.
Trap: not triggered
Exhibit C · Why variations, not novelty
0.00%
Repeat rate. You have never seen the variant you are about to be asked.
312
Canonical concepts. Finite on purpose, because that is what actually gets asked.
61
Median first-attempt score among candidates who told us they felt ready.