Investment Banking practice by topic

• valuation-core — 283 free questions
• ma-lbo — 218 free questions
• implied-share-price — 94 free questions
• accounting — 74 free questions
• rx-dcm-ecm — 63 free questions

How do I prepare for an investment banking interview?

Two tracks: technicals and story. For technicals, drill valuation, accounting linkages, M&A accretion/dilution, and LBO intuition until answers are automatic — KomFi Investment Banking Prep gives you 3,225 interview-grade questions with full explanations, plus flashcards for formulas. For story, script your "why banking" and deal discussion, then pressure-test them.

How do I learn investment banking?

Learn the work, not the mystique: valuation methods, transaction mechanics, and financial statement fluency. Ten focused questions a day with honest feedback outperforms passively reading guides — that is exactly the rep structure KomFi is built on.

What technical questions are asked in investment banking interviews?

The core families: walk me through a DCF; how do the three statements link; accretion/dilution math; what makes a good LBO candidate; enterprise vs equity value; and valuation multiples — all covered in the bank with trap-aware explanations.

How long does it take to prepare for IB interviews?

From a standing start, 4–8 weeks of daily drilling covers technicals for analyst-level interviews. The differentiator is consistency: a daily 10-question rep with review of every miss.

Where can I find free Investment Banking Prep?

KomFi publishes free Investment Banking Prep practice questions here. Basic includes 50 questions every 2 weeks; Pro unlocks the full technical bank and unlimited drills.

Free Investment Banking practice questions

1. A company recognizes $100.0 million in Deferred Revenue on i… — How does this impact the current year's EBITDA
2. A company switching from LIFO to FIFO inventory accounting during a period of rising prices will report which
3. Assuming a 0% tax shield (non-deductible), what is the impact on the year-end Balance Sheet?
4. Which item is a non-cash expense that is recorded on the Income Statement but added back on the Cash Flow Stat
5. SaaSCo recognizes 25 million of stock-based compensation (SB… — How does this appear on the cash flow statemen
6. Which of the following would cause a company to have a Deferred Tax Liability (DTL)?
7. Under modern lease accounting (ASC 842), what is the primary impact of an operating lease on the balance sheet
8. Which of the following describes the impact of a $50 million increase in 'Deferred Revenue' on the three finan
9. If a company has a negative Shareholders' Equity balance, which of the following is the most likely cause?
10. Vanguard Corp reports $100M in Net Income. During the period, it recognizes a $100M depreciation expense. If t
11. On the Cash Flow Statement, how is SBC treated in the Operating section?
12. In February, what is the impact on the Income Statement and the Balance Sheet?
13. Under ASC 842, how does an Operating Lease affect the Income Statement compared to a Finance (Capital) Lease?
14. If the company uses 20 of its cash to pay off 20 of its debt, how do the Three Statements change?
15. If a company uses LIFO (Last-In, First-Out) accounting during a period of rising prices (inflation), how will
16. A company decides to write down its inventory by $50M. Assuming a 25% corporate tax rate, what is the impact o
17. If the tax rate is 40%, what is the Deferred Tax Liability (DTL) created in Year 1?
18. If the tax rate is 25%, what is the impact on the financial statements?
19. UrbanPack sells 50 backpacks for 120 each in cash. The cost… — At a 40% tax rate, what is the net change in ca
20. UrbanPack undergoes an inventory write-down of $50M. If the tax rate is 25%, what is the net impact on the fir
21. If Zenith Logistics purchases $50,000 of equipment using cash, which of the following best describes the immed
22. When an acquirer writes up a target's tangible assets (e.g., PP&E) in a stock-for-stock acquisition, what is c
23. If it uses $50 million in cash to buy $50 million in inventory, what is the impact on the Balance Sheet?
24. An analyst is calculating 'Days Sales Outstanding' (DSO). If Revenue is $1,000M and Accounts Receivable is $10
25. Which of the following correctly describes the impact on the financial statements?