jpm interview
Tell me about a time when you had a positive impact on a project. How did you measure your success?
- advocacy for crohn's
Describe your experiences with creating presentations for school, internships or volunteer activities. How did you know your presentation was successful?
- intern project, school, hilltop - when the q&a wasn't asking for clarification, rather furthering ideas
How differently would you allocate assets between an elderly couple and a young entrepreneur?
- less risky v risky
What's 16 multiplied by 243?
3888
Where did the oil price close yesterday?
42.15
Describe a time you took a risk.
Applying to Hilltop
Can you make a market based upon the expected value of a roll of a dice?
If it's a market on the outcome of a die roll then you can make a tighter market since it is a known quantity (3.5). If it is something obscure, like the number of ping pong balls that can fit in the Empire State Building you will need to make your market wider.
If you had a Rubik's cube with 10 little squares on each side, and peeled off the outer layer, how many little cubes would you end up with?
The whole cube is made from 10³ = 1000 small cubes, but it would not be possible to make a practical mechanism for rotating the faces. Peeling off the outer layer of cubes leaves 8³ = 512 small cubes.
Give me an example of a time you motivated others to achieve a particular result?
XC
Tell me about a class you did poorly in.
financial accounting
Describe a situation when you worked with others on a project and your teammates disagreed with your ideas? How did you respond? What were some of your (collective) challenges and how did you resolve them?
management
Describe a time you led a team and dealt with a difficult individual in that team.
management group
Give us your opinion on where you think the markets are going for next year
up
Tell me about a time when you were confused about details of a request. What steps did you take to clarify things?
- building a website for work - called website company, spoke with manager, other managers
What do you see yourself contributing to this organization, in both the short and long term?
- collaborative - friendly - serious
How would colleagues describe you?
- curious -hardworking - organized
How do you prioritize tasks and projects when scheduling your time? Give some examples.
- due date, importance, and time it takes - classes example - work v. extracurriculars v. school - internship: work from branch v. work from corporate
What differentiates J.P. Morgan from our competitors?
- integrated team model JPMorgan Chase is committed to creating a more sustainable future for the employees, customers and communities it serves. That's why we're taking additional steps to address climate change and further promote sustainable development. In 2020, we commit to facilitate $200 billion to advance the United Nations Sustainable Development Goals, including $50 billion toward green initiatives that also fulfill our 2017 clean financing target. (split between environment, social, and economic development)
Tell me about yourself without mentioning your resume.
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What's the story behind your resume?
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What are equities vs fixed income?
-Equity investments allow investors to hold partial ownership of issuing companies. As one of the principal asset classes, equity plays a vital role in financial analysis and portfolio management. - Equity investments come in various forms, such as stocks and stock mutual funds. Generally, stocks can be categorized into common stocks and preferred stocks. Common stocks, the securities that are traded most often, grant the owners the right to claim the issuing company's assets, receive dividends, and vote at shareholders' meetings. Preferred stocks, in comparison, also offer a claim on assets and rights to dividends, but do not grant the right to vote. -A fixed-income security promises fixed amounts of cash flows at fixed dates. We frequently refer to fixed-income securities as bonds. -We will discuss two types of bonds - zero-coupon bonds and coupon bonds. A zero-coupon bond (or zero) promises a single cash flow, equal to the face value (or par value) when the bond reaches maturity. Zero-coupon bonds are sold at a discount to their face value. The return on a zero-coupon bond is the difference between the purchase price and the bond's face value.
Where do you see yourself in five years' time?
-I would live to continue working in the private bank moving up to the associate role -I would be open to also exploring other sectors of the bank, however, I see a real career trajectory within the private bank
What's the connection between interest rates and equity prices?
-When the Federal Open Market Committee (FOMC) changes the interest rate, it impacts both the economy and the stock markets because borrowing becomes either more or less expensive for individuals and businesses. -Any impact on the stock market to a change in the interest rate changes is generally experienced immediately, while, for the rest of the economy, it may take about a year to see any widespread impact. -*Higher interest rates tend to negatively affect earnings and stock prices (with the exception of the financial sector).*
You have a 3 liter and a 5 liter bottle. How do you measure 4 liters of water exactly?
-You fill the three liter jug and pour it into the five liter jug - You fill the three liter jug again and pour the 2 liters into the 5 liter jug, leaving one liter in the 3 liter jug - You then dump out the five liter jug and pour in the 1 liter from the 3 liter jug -You then fill up the 3 liter jug again and pur it into the 5 liter jug and you will have 4 liters
Describe a task that really tested your analytical abilities.
-hilltop --> way to quantitaively assess potential business partners using weighted matrix
Have you ever had a project not go according to plan? What happened? What did you do to get it back on track?
-management group -intern project
Describe a time when you received difficult feedback. How did you respond?
-marketing - project on starbucks, teacher gave critique outloud
What's been your biggest failure at work?
-tutoring session gone wrong
What is the current yield on a 10 yr Treasury bond?
10 Year Treasury Rate is at 0.71%, compared to 1.52% last year.
What's J.P. Morgan's share price today?
102.41 but check
If one mile is 1.6km, how many kilometres are in eight miles?
12.8 8*8=64*2=128, carry the decimal point= 12.8
You look at the clock. It's 3.15pm. What's the angle between the clock hands?
15=3 mark 3= ¼ past 3 360/12=30/4=7.5 7.5 degree angle
What's the probability that a pregnant woman has a baby boy?
50%
What's one divided by 16?
= 0.0625 1/8=.125/2=.0625
What was J.P. Morgan's price/earnings ratio in the past quarter?
?
Which are the most important/interesting subjects within FX markets at the moment?
??
What is the expected value of a roll of a dice?
A quantity equal to the average result of an experiment after a large number of trials. For example, if a fair 6-sided die is rolled, the expected value of the number rolled is 3.5. This is a correct interpretation even though it is impossible to roll a 3.5 on a 6-sided die. This sort of thing often occurs with expected values.
Demand for skis declines sharply. What should the company selling skis do?
Diversify products to other winter sports (skating)
Why J.P. Morgan?
First of all I believe that the integrated team model is something that separates JP Morgan from the rest of the private banks out there. By having 6 different specialists on a team allows the client to have the best service as possible.Second, I have taken the time to get to know as many people as the bank as possible and I have really felt a connection with the people at JP Morgan. The culture seems to be fantastic, an environment with a lot of teamwork. JP Morgan is a place to learn. It was a place to ask questions, expand your network, and most of all grow. What I think is important is that JP Morgan as a firm doesn't expect you to know everything, however, they expect you to be curious and learn as much as you can, creating an intellectual stimulating experience. In terms of JP Morgan, they have a huge emphasis on philanthropy, which is really important to me. From a young age, I've been very involved with numerous nonprofit organizations such as Special Olympics and the Crohn's and colitis foundation. With hundreds of thousands of volunteer hours logged and millions donated it is clear that JP Morgan doesn't only care about their employees, but rather the community they live in. In fact, this philanthropic view even extends into the Private Bank as the integrated teams can work with clients to determine their philanthropic endeavers in relation to their wealth. --interest in corporate responsibility and it's evident that JPM is planning for the future with an emphasis on sustainability (taking into account non-financial factors but environmental factors and social factors--i.e. planning for more sustainable operations (energy usage, waste)) Mobility is also something that is very important. There are many instances of the people that I have networked with that have JP is very supportive of people transferring areas of the bank and transferring offices. Having the opportunity to follow one's passions as mine develop shows the values of the bank and I would love to represent a company that has those values instilled.
What would you do if you knew your boss to completely wrong about a work issue?
Firstly - I would make sure they were 100% wrong.Then, find time to speak to them in private, bring my calculations/proof with me
I flip a coin. If it's heads you pay me £100. What should I pay you to play this game? What about if I only have to get 1 heads in two tosses, what is the new price?
For first part, it is 100 given that probability of each is 50%, so I should pay 50. For the second part, P(heads) = 1/2 + 1/2 * 1/2 = 3/4. So 3/4(100) = 75 is the answer
What impact do interest rates have on a country's exchange rate?
Higher interest rates provide lenders a higher return relative to other nations; higher returns attract foreign capital, which increases demand and causes the exchange rate to rise. The opposite is true for decreasing interest rates, which proportionately decreases exchange rates. -Macroeconomic statistics, such as inflation, have the greatest impact on forex markets. -Stock, bond, commodity, and other capital markets also have a strong influence on exchange rates. -International trade numbers, such as trade deficits and surpluses, play a vital role in forex markets. -Political news can also be important for forex traders, especially when unexpected outcomes occur.
the benefits of owning municipal bonds
Investing in municipal bonds is a good way to preserve capital while generating interest. Municipal bonds hold several tax advantages over corporate bonds. Another advantage that munis have over corporate bonds is a much lower rate of default.2 Municipal bonds are also relatively liquid, but investors need to be careful of the bid-ask spread
Why has J.P. Morgan been in the news recently?
Jamie Dimon of JP Morgan Chase and other CEOs aim to hire 100,000 New Yorkers by 2030 - banding together with the goal of hiring 100,000 New Yorkers who are disadvantaged or people of color over the next decade. JPMorgan Chase partners with fintech start-up Marqeta to launch 'virtual' credit cards - Instead of receiving a plastic version in the mail, JPMorgan Chase commercial cardholders will be able to spend immediately in mobile wallets such as Apple Pay, or Samsung Pay. - Marqeta provides that same technology to DoorDash and Instacart, whose gig-economy workers use these "virtual" cards in the delivery process.
What's the square root of 0.1?
Remember that a decimal * decimal is a smaller number, so the answer has to be above 0.1. .3 *3 = .09, so it has to be a bit above .3
Someone didn't take your idea into account. How did you react?
accounting case
What's the square root of two?
between 1-2 1^2=1 2^2=4 1.5^2=2.25 1.4*1.4=1.96 In between 1.4 and 1.5
Have you ever had to compromise to make an achievement? How?
final project in internship --> couldn't present
Give an example of a time you encountered a difficult question whilst working in a group.
gaap --> how to address problems at gtown honestly but still market it
What is the biggest risk you have ever taken in your life?
going to georgetown
Sell me something that you think I would need.
hand sanitizer wipes
Have you ever had to change your working style to deal with a difficult team member?
management group
Which books do you like reading?
nonfiction/autobiographies finish tina fey's book over quarantine as well as fall and rise: the story of 9/11
Why banking?
numbers focused
What is the sum of the numbers from one to 100?
split the numbers into two groups (1 to 50 and 51 to 100), he could add them together vertically to get a sum of 101. Gauss realized then that his final total would be 50(101) = 5050
What are your three main strengths and weaknesses?
strengths: curious, dilligent, time management skills weaknesses: detail oriented, second guessing, inability to say no
Tell me about a time you missed a deadline.
this
Why do you want this job in this division?
why wm answer JP Morgan and the Private Bank in specific has piqued my interest for a myriad of reasons. First and foremost, the collaborative nature found in the Private Bank is unique to JP Morgan. I find the integrated team model incredibly smart as it offers a way to learn on the job and see a possible path of progression. By working with analysts, associates, and the banker, the team is able to accomplish more rather than had it been solely an individual.
