Associate portfolio manager Interview Questions

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AllianceBernstein
Associate Portfolio Manager was asked...29 March 2017

If the cost of a ball and a bat was $1.10 and the cost of the ball is $1 more than the ball. What is the cost of each item? How many times does the number 3 repeat between 0 to 500? Let's make a deal - pick one door from three. and then you have an option to swap doors. Would you open it?

3 Answers

Monty hall problem. Switch doors because your odds have improved 2nd time around. Less

How many times does the number 3 repeat between 0 to 500? Let's analyse the problem as per number of digits of the max number in the range: * with 1-digit numbers ie. 0-9 there is one 3 * including 2-digit numbers ie 0-99 -> 20 3's (10 x 1 single numbers from before + 10 extra 3's in the 30's) * with 3-digit numbers ie. 0-999 -> 300 3's (10 x 20 2-digit numbers from before + 100 extra 3's in the 300's) We calculated that from 0-999 we have 200 3's, so from 0-500 there are half that => 100 3's + 100 in the 300's = 200 3's By the way, the algorithm to calculate the cardinality of 3's (or any number), depending on the number of digits of the whole range is: n x 10 ^ (n-1) where, n = the number of digits For any number in between, separate calculation is needed. Less

The cost of the bat is $1.05 and the ball is $0.05. Careless people will blurt out $1.00 for the bat and $0.10 for the ball. Less

Parametric Portfolio Associates

How to calculate after-tax returns and questions around tax loss harvesting

1 Answers

One would need to have knowledge of Wash Sales (IRS Section code 1091). Once you understand how wash sale works, you would understand the impact on holding period and cost. The new tax cost will impact the liability that you would have to pay when you dispose of the replacement lot and what character that would be. In short, the idea is to avoid wash sales. What that means is that if you have loss realization, you should not buy the same security 60 days before or 60 days after the day you created the loss. Less

PIMCO

Was asked standard questions : How does your experience apply with this job? What skill sets are your best suited for this position ? Do you have questions for me ?

1 Answers

I explained my background and how I have the exact skill sets that are required for this job and how I would be a great addition in so many ways. Less

City National Rochdale

In your last job, what percentage of the time did you face clients? What is the average size of your clients?

1 Answers

They expect 50%+ client facing time. The have two branches of clients. The bank's own clients and they outsource investment advice to RIAs. Less

RBC

They asked me what my career goal is. I am currently a CFA level three candidate and have been in asset management for a few years. One of the rea

1 Answers

I am currently a CFA level three candidate and have been in asset management for a few years. One of the reasons for me to apply for this role is to eventually become a portfolio manager one day to manage money. Their answer was horrible. They said it's not possible in their office and they want the candidate to be on this role for ever for their rest of lives. Then they asked me what I say after I know this situation...... A few days later, they canceled this position and changed it to portfolio management associate(sales support) Less

AllianceBernstein

How many planes takeoff from LaGuardia each day?

1 Answers

Wanted to see your thought process on how you could come up with a believable number. Less

Community Loan Servicing

Explain what mortgage backed securities are to your eight year old nephew?

1 Answers

Where was the last place you worked and what did you do there? Now explain to me what was one thing you would change about your previous job and why? Less

City National Rochdale

Basic..experience, etc.

1 Answers

Shared my personal experience and education.

Aperio Group

Briefly describe your experience.

UM

Tell me about your previous marketing experience. Give an example of how you managed an issue with a team.

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