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Portfolio Analyst interview questions shared by candidates

## Top Interview Questions

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Portfolio Management Group-Fixed Income Analyst was asked...21 November 2010

### You have a birthday cake and have exactly 3 slices to cut it into 8 equal pieces. How do you do it?

Assuming the cake is square: slice 1: cut horizontally to create 2 equal pieces slice 2: cut vertically to create 4 equal pieces slice 3: line up all 4 pieces of cake side by side and cut horizontally to create 8 equal pieces. don't stack, it will ruin the frosting. Less

Cut each slice into 3 slices. Then eat one of them.

Alina would be penalized for not being able to count past 6. But then, she could get a job at another company where they appreciate people who say someone's idea is wrong, then put forth the same idea and take credit for it. Less

### You have 100 quarters, 10 heads, 90 tails up in a dark room where you can't see the quarters. How do you divide them into 2 piles where you have an even amount of heads in each pile?

Take the 90 quarters that are tails and split them into two piles, 45 in each. Then take 5 heads and place into each stack, and you'll have an equal amount of heads in each stack. Less

It is simple you only have 10 heads in front of you because 90 tails are in a darker room which you can't see. So make a pile of 5-5 of heads. Less

randomly split the 100 quarters into two equal piles, 50 quarters per pile. Because of probability, that'll get you fairly close to an even amount of heads in each pile Less

### Are bond prices affected more by a yield change at high or low yields?

this is referring to bond duration which is its sensitivity to change in price over change in yield. Bond prices are affected more by a yield change at lower yields. Less

actually duration is more sensitive at lower yields than at higher yields. So the initial answer is correct Less

Classic ssga interview question. Funny thing is most of the people on the fixed income desk couldn't answer it correctly Less

Sir my name is Ramesh lal and am from Delhi and I have Faizabad in 2019 and I want to do apprentice so where in Delhi can I do apprentice please can help me out . Less

Hii Sir, I would like to thank you for giving me the opportunity to introduce myself. My name is Sudhish Ps , am 31 years old and belongs to Kerala. I have completed my CERTIFIED ITI from GOVERNMENT INSTITUTE ETTUMANOOR with aggregate mark of 65%. And completed my 10th from ST MARY'S HSS Kidangoor In Kerala Mark 74% and VHSE Completed in Vocational Higher Secondary School Mutholi Kottaym 65% I know AUTOCAD 2d &amp;3d designing and modelling , Mastercam 2d &amp;3d designin and Programming 2d &amp; 3d 3axis and 4axis Manual programming also know And basic solid work .CNC Milling operating and setting also know Coming to my family background, I live in joint family having 8 members. My father is a Lathe operator and mother is house wife , I am Married and I have One daughter one year old That's all about me. Thank you. Less

Hii Sir, I would like to thank you for giving me the opportunity to introduce myself. My name is Sudhish Ps , am 31 years old and belongs to Kerala. I have completed my CERTIFIED ITI from GOVERNMENT INSTITUTE ETTUMANOOR with aggregate mark of 65%. And completed my 10th from ST MARY'S HSS Kidangoor In Kerala Mark 74% and VHSE Completed in Vocational Higher Secondary School Mutholi Kottaym 65% I know AUTOCAD 2d &amp;3d designing and modelling , Mastercam 2d &amp;3d designin and Programming 2d &amp; 3d 3axis and 4axis Manual programming also know And basic solid work .CNC Milling operating and setting also know Coming to my family background, I live in joint family having 8 members. My father is a Lathe operator and mother is house wife , I am Married and I have One daughter one year old That's all about me. Thank you sir, Less

### A repeated case study used for over 12 months now.

Question. 1. After how many days you got offer letter?

Have you got the offer letter as till now they have not provided offer letter to me. I was also interviewed on 17th Nov. Less

### If a bond is trading above par, the YTM is greater, less, or equal to the market's yield?

The correct answer should be equal, given efficient market. Here is the explanation: The bond is trading above par because its coupon rate is higher than the market yield. This is the result of the market (i.e. investors) trying to adjust the pricing of the bond so that the its total return (i.e. YTM) is equivalent to what the market yields for similar bonds (i.e. bonds with similar credit risk, duration, etc.). Market should cause the YTM of the bond to equal the market yield. Less

For a bond selling at a premium: Coupon Rate &gt; Current Yield &gt; Yield to Maturity It has a lower YTM compared to market's yield. Less

Greater.

### Brain Teaser: you have 7 seemingly identical looking balls, only 1 is slightly lighter than the other 6. You are given a scale. How can you find the 1 lighter ball is you are only allowed to use the scale twice.

pick 3 random balls on one side of the scale, pick 3 more to put on the other end. if scale equals, the 1 unpicked ball is the lighter one. if one side is lighter than the other one, the lighter ball is among them. take 1 random ball out of 3 to put on one side the scale, put another on the other side...you get it by now. Less

can we not pick 2 on each side?

Add one ball to the scale at a time continuously . The lighter ball will show a slight difference at the scale when you adding up the weight. Like if the first ball is 12g, then adding the next one will be 24, 36, etc and the one that was slightly off will be the lighter one. I think this count as using the scale once because I use it continuously Less

### If you had 100 million dollars to do whatever with it you like, what would you do? Would you invest it? If so, what would be your first trade?

I would have a chain of liquor stores in poor neighborhoods, buy properties, put 10% in CDs, and look to invest in tech companies that deal with renewable resources (solar,wind, water). Less

Would Help Juanita expand her horizons! #1 Investment: Myself! (Get out of Debt! and go on vacation!) #2 Buying Foreclosures, Flipping them and Incorporating as a Rental Property Company #3 Investing Those Proceeds #4 Buy my own Land, Build my Own House to which will run on renewable resources! #5 Donate To many charities that support our environment, our animals, and nothing to do with humans! #6 Live Comfortably, Humbly, and Happily! Less

Oh Carlos, how boring. I'd buy 100 million shares of Enron, then move the rest to my bank account. Less

### If you had 2 6-sided dice, what's the probability you get a 7?

You should ask if the dice are fair.

here are the different ways you can get 7 1-6 6-1 2-5 5-2 3-4 4-3 prob(7) = [Prob(1)*prob(6) + prob(6)*prob(1).......................+prob(4)*Prob(3)] = 1/6 Less