Building a 13-Week Cash Flow
Easy
The core liquidity tool for any distressed-company engagement.
What makes a 13-week cash flow forecast useful in a restructuring?
Forecasting · Investment Banking · ~7 minModel answer & graded attempt
All interview questions
Alvarez & Marsal interview questions
Middle Market5 questions reported in Alvarez & Marsal interviews, organised by the group that asks them. Every question carries a model answer and graded feedback on your own attempt.
Questions
5
Easy · Medium
1 · 1
Hard
3
Model builds
0
Built in the spreadsheet grid
Restructuring
Liquidity runway, fulcrum security, Chapter 11 mechanics and recoveries. 3 questions
Reconciling Borrowing-Base Availability
Medium
A practical liquidity-reconciliation question for a restructuring analyst reviewing an asset-based revolver.
A retailer has $80m of eligible receivables at an 85% advance rate and $50m of eligible inventory at a 60% advance rate. Its revolver commitment is $90m, outstanding borrowings are $78m and letters of…
Financial Analysis · Investment Banking · ~11 minModel answer & graded attempt
Choose the DIP That Buys a Real Runway
Hard
A restructuring analyst case involving liquidity triage, DIP financing, and creditor negotiation under a Chapter 11 timetable.
You advise the first-lien lender group of a specialty retailer that will file Chapter 11 in ten days. The company needs DIP financing, but its sponsor wants to provide it on terms that may dilute…
Restructuring · Investment Banking · ~19 minModel answer & graded attempt
Sell-Side Research
Driver-based models, differentiated estimates and defending a rating. 1 question
Earnings Quality Red Flags
Hard
Common in equity research, credit and restructuring interviews.
You're handed three years of financials for a company you don't know. Name the specific red flags you'd screen for and explain what each one might indicate.
Financial Analysis · Equity Research · ~10 minModel answer & graded attempt
Buyout
LBO modelling, leverage capacity, value creation plans and exit paths. 1 question
What a Quality of Earnings Report Finds
Hard
Every buyout runs one, and associates are expected to interrogate it.
A seller presents $50m of "Adjusted EBITDA". What does a quality of earnings analysis look for, and which addbacks would you challenge?
Due Diligence · Private Equity · ~13 minModel answer & graded attempt
Practise the Alvarez & Marsal set under interview conditions.
Write your answer, get it graded on technical accuracy, completeness and communication, and see exactly which mechanic you missed.
Company tags reflect where a question type is commonly reported in interviews. They are not sourced from, endorsed by, or affiliated with Alvarez & Marsal.