6 questions reported in Duff & Phelps interviews, organised by the group that asks them. Every question carries a model answer and graded feedback on your own attempt.
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Merger models, accretion/dilution, purchase accounting and deal judgement. 6 questions
A WACC follow-up where candidates reach for the wrong number.
How do you estimate the cost of debt for a WACC? Why not just use the interest expense divided by total debt?
One of the four analyses in every fairness opinion.
Walk me through a premiums paid analysis. What are its weaknesses compared to precedent transactions?
Tests whether you understand the advisory product, not just the analysis behind it.
A board asks its banker for a fairness opinion. What does it actually say, what does it not say, and why is it worth paying for?
Follows the WACC question when the interviewer wants to go deeper.
What does beta measure? Walk me through unlevering and relevering beta and explain why the process is necessary.
Asked in cross-border M&A and emerging markets coverage.
How do you adjust a DCF for a company operating in an emerging market? Where does the country risk go?
Common in middle-market M&A and valuation advisory.
How does valuing a private company differ from a public one? What discounts apply and how do you estimate a discount rate without a share price?
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 Duff & Phelps.