Case Interview Secrets PDF

Victor Cheng

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 Case Interview Secrets
Mastering Case Interviews to Land Top Consulting
Jobs
Written by Bookey
Check more about Case Interview Secrets Summary

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About the book
Unlocking the gateway to a prestigious consulting career starts
with mastering the case interview, a daunting and rigorous
assessment that weeds out the unprepared. In "Case Interview
Secrets," Victor Cheng demystifies this high-stakes process,
revealing insider techniques and strategies that have propelled
countless candidates to success at elite firms like McKinsey,
Bain, and BCG. Drawing on his extensive experience as a
McKinsey consultant and interviewer, Cheng offers a
step-by-step blueprint, transforming what seems like an
insurmountable challenge into a systematic, achievable goal.
This book is not merely a guide; it's a lifeline for aspirants
who dare to dream big, providing the tools to impress and
excel with confidence and precision. Get ready to delve into a
treasure trove of insights that could be the difference between
a fleeting dream and a groundbreaking career.

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About the author
Victor Cheng is a highly regarded author, consultant, and
industry expert in the field of management consulting. As a
former McKinsey & Company consultant, Cheng has carved a
niche for himself in preparing candidates for the rigorous case
interview process used by top consulting firms. With a strong
academic foundation from Stanford University and years of
firsthand industry experience, Cheng has developed a deep
understanding of what it takes to succeed in the competitive
realm of consulting. His book "Case Interview Secrets"
encapsulates his extensive knowledge, offering invaluable
insights and practical strategies that have helped countless
aspirants secure positions at elite consulting firms globally.
His expertise is further amplified through his wide-reaching
online platform, where he mentors and guides prospective
consultants, cementing his reputation as a leading authority in
the field.

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Summary Content List
Chapter 1 : INTRODUCTION

Chapter 2 : THE SEVEN TYPES OF EVALUATION

TOOLS

Chapter 3 : MCKINSEY PROBLEM SOLVING TEST

Chapter 4 : ESTIMATION QUESTIONS

Chapter 5 : WHY CASE INTERVIEWS EXIST

Chapter 6 : WHAT INTERVIEWERS LOOK FOR AND

WHY

Chapter 7 : THE CORE PROBLEM-SOLVING TOOLS

Chapter 8 : THE HYPOTHESIS

Chapter 9 : THE ISSUE TREE

Chapter 10 : DRILL-DOWN ANALYSIS

Chapter 11 : SYNTHESIS

Chapter 12 : CORE FRAMEWORKS

Chapter 13 : PROFITABILITY FRAMEWORK

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Chapter 14 : BUSINESS SITUATION FRAMEWORK

Chapter 15 : MERGERS AND ACQUISITIONS

FRAMEWORK

Chapter 16 : FRAMEWORKS IN ACTION

Chapter 17 : HOW TO OPEN A CANDIDATE-LED CASE

Chapter 18 : HOW TO ANALYZE A CANDIDATE-LED

CASE

Chapter 19 : HOW TO CLOSE A CANDIDATE-LED CASE

Chapter 20 : THE INTERVIEWER-LED CASE

Chapter 21 : THE WRITTEN CASE INTERVIEW

Chapter 22 : THE GROUP CASE INTERVIEW

Chapter 23 : THE PRESENTATION-ONLY CASE

INTERVIEW

Chapter 24 : HOW TO GET MULTIPLE JOB OFFERS

Chapter 25 : HOW TO PROJECT CONFIDENCE

Chapter 26 : THE TEN MOST COMMON MISTAKES TO

AVOID

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Chapter 27 : ADVANCED CASE INTERVIEW

RESOURCES

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Chapter 1 Summary : INTRODUCTION

PART ONE

Overview

Chapter 1: Introduction

If you’re aiming for a top strategy management consulting

firm, the case interview is a unique hurdle you’ll face. This
format is utilized by firms like McKinsey, Bain & Company,
and BCG, and it assesses candidates from various academic
backgrounds—new graduates to seasoned professionals. The
case interview process remains consistent across different
education levels, and the advice in this book is applicable to
all candidates.

How I Learned What I Know about Case Interviews

Victor Cheng recounts his journey through case interviews,

starting with a disastrous first attempt. Despite strong

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academic performance, he realized traditional schooling did
not prepare him for this interview format. Cheng determined
to focus on mastering the case interview and dedicated
significant effort to learning about it, conducting numerous
practice sessions. His intense preparation resulted in multiple
job offers from leading consulting firms, culminating in an
offer from McKinsey.
His experience is not only shaped by being a successful
candidate, but also by working at McKinsey where he gained
insights as a top consultant and case interviewer, providing
him with a well-rounded perspective on the case interview
process.

How This Book Is Organized

The book is structured into seven parts:

1.
Big-picture view of the case interview process and
evaluation tools.

2.
Quantitative assessments often integrated into the
recruitment process.

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3.
Fundamentals of handling "real" case interviews
with essential problem-solving tools.

4.
Primary frameworks for solving business problems
in case interviews.

5.
The traditional candidate-led case interview format
with practice tips.

6.
Other case formats and mastery techniques.

7.
Integrating skills to secure job offers.

How to Get the Interview

While this book emphasizes succeeding in case interviews,

the initial step is securing an interview. For tips on obtaining
interviews, readers are directed to Victor Cheng’s free online

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tutorials regarding resumes and cover letters.

How to Stay Current on Case Interview

Developments

Consulting firms continuously evolve their recruitment

strategies to attract top talent. Cheng offers an email
newsletter that provides updates on the latest interview
practices at top consulting firms. His website features video
demonstrations of techniques and printable resources to aid
candidates in their preparation. Interested individuals are
encouraged to visit his website for these materials.

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 Chapter 2 Summary : THE SEVEN
TYPES OF EVALUATION TOOLS

Format Type Format Description

Number

Quantitative Format The Quantitative Test - Evaluates math skills, data interpretation, and numerical
Assessments #1 reasoning through arithmetic questions and data analysis.

Quantitative Format The Estimation Question - Candidates estimate numerical values using assumptions and
Assessments #2 quick calculations, focusing on reasoning rather than accuracy.

Hypothetical-Situation Format The Candidate-Led Case Interview - Candidates navigate ambiguous questions
Case Interview #3 independently, asking questions and requesting data.

Hypothetical-Situation Format The Interviewer-Led Case Interview - The interviewer leads the discussion, dictating
Case Interview #4 areas of exploration with dynamic question flow.

Hypothetical-Situation Format The Written Case Interview - Candidates analyze charts and exhibits within a set
Case Interview #5 timeframe, ending with a written test based on the information.

Hypothetical-Situation Format The Group Case Interview - Candidates work collaboratively with peers on a case
Case Interview #6 problem, emphasizing teamwork over competition.

Hypothetical-Situation Format The Presentation-Only Case Interview - Candidates analyze information to create a
Case Interview #7 presentation that serves as the sole evaluation metric.

Chapter 2 Overview: Case Interview Formats

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Strategy consulting firms assess candidates' problem-solving
abilities through a variety of case interview formats. These
formats can be broadly categorized into two types:
quantitative assessments and hypothetical-situation case
interviews, with seven primary formats being utilized by
major consulting firms.

Quantitative Assessments

Format #1: The Quantitative Test

This format evaluates math skills, data interpretation, and

numerical reasoning. Candidates may face arithmetic
questions, data analysis from charts, and scenarios requiring
reasoning with numerical data. Notably, McKinsey
introduced the McKinsey Problem Solving Test (PST),
which emphasizes the need for speed and accuracy in
arithmetic. Candidates can practice using resources like the
case interview math drill for timed practice.

Format #2: The Estimation Question

Candidates must estimate numerical values—such as market

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sizes—using simplifying assumptions and quick calculations.
Interviewers focus on the reasoning process rather than the
exact accuracy of the answer, expecting candidates to arrive
at estimates using pen and paper without any digital aids.

Hypothetical-Situation Case Interview

Format #3: The Candidate-Led Case Interview

This format presents candidates with ambiguous questions

from the interviewer, who then remains silent, allowing the
candidate to navigate the case autonomously by asking
questions and requesting data.

Format #4: The Interviewer-Led Case Interview

In contrast to the candidate-led format, the interviewer leads

the discussion, dictating which aspects of the case are worth
exploring. This can lead to a dynamic flow of questions and
answers that may jump around various areas of analysis.

Format #5: The Written Case Interview

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Candidates receive a series of charts and exhibits to analyze
within a set time period, culminating in a written test based
on the information provided. Variations may involve
combining written formats with other interview styles.

Format #6: The Group Case Interview

In this setting, candidates collaborate with peers to address a

case problem, promoting teamwork and supportive
interaction among participants rather than competition.

Format #7: The Presentation-Only Case Interview

Candidates analyze information provided through charts and

exhibits and subsequently create a presentation that serves as
the sole evaluation metric. The interviewer assesses the
candidates based solely on this presentation.
The subsequent sections of the book will delve deeper into
strategies for handling quantitative assessments and the
various formats of hypothetical-situation case interviews.

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Example
Key Point:Understanding different case interview
formats is crucial for effective preparation.
Example:Imagine walking into an interview room, your
heart racing as you prepare for the unknown. You realize
that the interview could take any shape, from rapid-fire
quantitative assessments to intricate hypothetical
scenarios where you lead the discussion. This diversity
in case formats highlights the importance of being
adaptable and mastering all approaches—whether
calculating market sizes under pressure,
problem-solving independently, or collaborating in a
group case. Embracing this variety ensures you’re
equipped to tackle whatever interview challenge comes
your way.

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Critical Thinking
Key Point:Evaluation of problem-solving skills in
case interviews is not limited to quantitative
assessments.
Critical Interpretation:In discussing the case interview
formats, the author asserts that consulting firms
primarily employ quantitative assessments to evaluate
candidates' problem-solving skills. However, this
perspective may overlook the substantial impact of
qualitative skills, such as creative thinking and
interpersonal communication, which are equally critical
in consulting roles. Research, including studies by
Harvard Business Review, suggests that soft skills play
a significant role in successful consulting engagements,
challenging the notion that numerical reasoning alone
can define a candidate's potential effectiveness in
strategy consulting.

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Chapter 3 Summary : MCKINSEY
PROBLEM SOLVING TEST

PART TWO

Quantitative Assessments

MCKINSEY PROBLEM SOLVING TEST

Many firms utilize problem-solving tests to assess

candidates' math, logic, and analytical skills, with McKinsey
being a pioneer in this approach. The McKinsey Problem
Solving Test (PST) is designed to be accessible to individuals
from various backgrounds, emphasizing math, estimation,
logic, and critical thinking rather than requiring business
knowledge. Candidates are advised to read questions
carefully and focus on the literal content instead of
preconceived notions.

How to Prepare

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To prepare for the McKinsey PST, candidates should:
- Take practice tests from McKinsey and similar firms,
recognizing that authentic resources are limited online.
- Develop skills in solving math word problems and
interpreting data from charts and graphs, as these are integral
to the test.
- Engage with GRE practice questions to enhance proficiency
in fundamental math and reasoning skills. Mastering
straightforward questions can help manage the more complex
challenges during the actual test.
- Focus on the speed and accuracy of arithmetic, as the PST
is timed and designed to challenge even those with strong
math backgrounds.

Practice Resources

Candidates can find updated practice resources, sample

questions, and tests on Victor Cheng's website, along with a
tool specifically for honing arithmetic skills and estimation
with large numbers. This tool allows users to compare their
performance against peers, providing insights into their math
speed and accuracy relative to others preparing for the PST.

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Chapter 4 Summary : ESTIMATION
QUESTIONS

Estimation in Consulting Interviews

Consulting firms utilize estimation questions during

interviews to evaluate a candidate's ability to assess
numerous potential opportunities quickly and efficiently.
Estimation skills help consultants determine whether an
opportunity is financially viable, often filtering out 80% of
options from detailed analysis.

Benefits of Estimation Skills

- Consultants need to analyze several opportunities worth

millions of dollars, making quick estimations critical to avoid
excessive costs.
- Estimations can resolve long-standing debates among
clients, leading to decisive business decisions.

Computation-Level Estimates

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To excel in estimation questions, candidates should focus on
two main skills: mental arithmetic with large numbers and
intelligent rounding.

Estimation Skill #1: Doing Precise Arithmetic with

Large Numbers

Candidates should simplify complex calculations by breaking

them down into smaller components to make mental math
manageable. For instance, breaking down a formula with
multiple multipliers facilitates quicker computation.

Estimation Skill #2: Rounding Numbers

Intelligently

Often, detailed accuracy isn't necessary. Instead, candidates

should determine when to round numbers based on the
context, focusing on getting a “directionally correct” answer.

Big-Picture Estimates

Moving beyond individual computations, candidates must

learn to handle more extensive estimates, such as market
sizes, utilizing proxies.

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Estimation Skill #3: Finding a Proxy

Finding a relevant proxy number that correlates with the

estimate can simplify the process. For example, using market
size or historical sales data can guide estimations.

Estimation Skill #4: Identifying How Your Proxy is

Imperfect

Candidates must acknowledge how their proxies can be

flawed and consider external factors that could influence the
estimates.

Estimation Skill #5: Segmenting Estimates to

Minimize Proxy Imperfections

By dividing the estimates into smaller, manageable parts,

candidates can more accurately estimate figures rather than
relying on a single flawed proxy.

Estimation Skill #6: Solving the Sub-estimates via

Assumptions (Guesstimating)

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After segmenting the estimates, candidates should approach
each part systematically to ensure a comprehensive
understanding of the problem and arrive at a logical solution.

Conclusion

Continuous practice in these estimation skills—both at

individual computation levels and in big-picture
scenarios—enhances proficiency and prepares candidates for
tackling challenging estimation questions in interviews.
Resources for further practice in estimation techniques are
available online.

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 Chapter 5 Summary : WHY CASE
INTERVIEWS EXIST

Section Summary

Chapter Title Why Case Interviews Exist

Overview Case interviews assess consulting skills valued by firms, helping candidates understand what firms
seek in Future First Years (FFYs).

Rationale for Understanding the motivations behind consultants' recruitment explains the types of questions and
Recruitment assessments in interviews.

Simulation of Case interviews mimic real consulting work, focusing on compatibility, estimation skills, and
Consulting Tasks adopting the consultant's perspective.

Establishing Consultants must gain client respect by asking insightful questions, providing unique data analysis,
Credibility and making sound data-backed conclusions.

Interview Skills Firms seek candidates with strong analytical and interpersonal skills, as confidence and effective
communication are crucial for credibility.

Evaluation Criteria Interviewers assess analytical problem-solving along with confidence during case interviews to
replicate real consulting scenarios.

PART THREE

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Case Interview Fundamentals

Chapter 5

WHY CASE INTERVIEWS EXIST

Regardless of the different formats, the skills needed for case

interviews are the same, focusing on consulting skills that
firms value. Understanding the motivations of consulting
firms helps candidates predict what they look for in
applicants. Successful candidates, termed Future First Years
(FFYs), often find particular advice helpful for passing case
interviews.

Why Consulting Firms Do What They Do

Candidates often query the rationale behind consultants’

recruitment processes, including the types of questions asked
and the nature of assessments. The reasons for these practices
remain consistent, even as the actual processes may change
year to year. Understanding the motivations of firms and
interviewers enhances candidates' ability to navigate

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unexpected situations in interviews.

Case Interviews Simulate On-the-Job Experience

Case interviews closely resemble everyday consulting tasks:

1.
Compatibility
: Disliking case interviews may indicate a potential dislike
for consulting work itself.
2.
Estimation Importance
: Estimation questions in interviews reflect real client
inquiries in consulting. Working as a consultant frequently
involves estimation tasks, often more than experienced in
interviews.
3.
Perspective Shift
: During interviews, candidates should adopt a consultant's
mindset, considering the firm's reputation in their responses.

Proving Yourself as a Consultant

Consultants must establish credibility with clients from the

outset, as skepticism about their value is common. To gain

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respect:
- Pose thought-provoking questions.
- Analyze data for unique insights.
- Formulate data-backed conclusions that guide client
decisions.
Engagement with clients can be challenging, especially when
clients express doubts or hostility. Common pitfalls include
being rude or presenting unsupported conclusions. Thus,
firms seek candidates with strong analytical and interpersonal
skills, as clients often interpret nervousness as a lack of
conviction. Confident communication is essential for
credibility in recommendations, even if the content is sound.
Interviewers evaluate both analytical problem-solving and
the confidence projected during the process. Each aspect of
the interview aims to replicate real consulting scenarios,
which is crucial to understand as one prepares for interviews.

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Example
Key Point:Understanding the consulting firm's
motivation enhances your performance during
interviews.
Example:When you enter an interview, imagine yourself
as a consultant already on the job, facing a skeptical
client. Knowing that consulting firms value candidates
who can think critically and communicate effectively
helps you align your responses to showcase those traits.
For example, as the interviewer presents a case, instead
of merely providing an answer, you could elaborate on
your thought process, demonstrating not only your
analytical skills but also your confidence, as if you were
directly addressing a client's concerns. This immersive
perspective prepares you to navigate the nuances of the
case, making your interactions more engaging and
aligned with the expectations of the firm.

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Critical Thinking
Key Point:Case interviews are designed to simulate
real consulting work.
Critical Interpretation:This chapter emphasizes that case
interviews are crafted to mimic the actual tasks faced in
consulting roles, revealing fundamental skills that firms
value. While the author's assertion highlights the
importance of preparation, candidates should remain
critical of this model since not every consulting
situation can be encapsulated by standardized interview
formats. Brooks and Doran (2015) argue that real-world
consulting requires adaptability that traditional
interview styles may overlook, suggesting that
candidates should develop a broader skill set than what
is tested in case interviews.

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 Chapter 6 Summary : WHAT
INTERVIEWERS LOOK FOR AND
WHY

Key Concept Description

Understanding Interviewer Grasping interviewers' psychology is crucial for impressing them; key principles are more
Psychology important than rigid formats.

Act Like a Pro Creating a collegial atmosphere makes candidates seem experienced; familiarity with
consulting aids in handling unexpected questions.

How the Consulting Business Consulting involves tension between high fees and client negotiations, requiring
Works consultants to deliver more with less.

How Client Billing Works Firms track project profitability with two billing rates; new consultants require oversight to
contribute positively.

The Value of an Independent Firms look for independent problem solvers who can manage client interactions and
Problem Solver complex issues effectively.

Doing as Little as Possible vs. Consultants must prioritize critical information rather than attempting exhaustive
Boiling the Ocean approaches.

Accurate Enough vs. Precisely Consultants focus on practicality over precision; candidates should be comfortable
Accurate providing directional answers.

Often Right but Never Without Consultants must justify recommendations with evidence; confidence must coexist with
Factual Justification acknowledgment of uncertainty.

Choose Your Words Carefully Word choice significantly influences client perception; candidates should articulate
defensible views to avoid misinterpretation.

Being Right vs. Being Right Effective communication of analysis is key; candidates should ensure clarity and rationale
“Diplomatically” in their conclusions.

The Airplane Test (aka Don’t Be Interpersonal skills are critical; candidates should display respect and kindness to avoid

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Key Concept Description

an Asshole) being deemed difficult.

The Interviewer’s Mind-Set Interviewers prefer structured problem-solving abilities over simply arriving at correct
answers.

How Consultants (and Analytical thinking and synthesizing data are vital for presenting coherent
Candidates Should) Think recommendations, enhancing client clarity and action willingness.

Understanding Interviewer Psychology

It is crucial to grasp the psychology behind interviewers'

actions to impress them effectively. Unlike rigid rules,
understanding key principles can be applied in various
situations. Many candidates focus too heavily on memorizing
interview formats and questions, yet case interviews can
greatly vary. Thus, preparing to demonstrate qualities akin to
consultancy colleagues is essential.

Act Like a Pro

Strong candidates often create a collegial atmosphere in the

interview, which transcends a mere evaluative process. The
best candidates exhibit traits of experience and understanding
in consulting, making them feel like immediate teammates.
Familiarity with the consulting process helps candidates
navigate unexpected questions during interviews.

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How the Consulting Business Works

Two primary groups are involved in consulting: consultants

and clients. Tension arises due to high fees charged, leading
clients to negotiate for reduced costs, impacting service
details. Over-delivering in consulting work is seen as
essential, often requiring consultants to accomplish more
with limited resources.

How Client Billing Works

Consulting firms track profitability via individual client

projects with two billing rates for consultants: what clients
are billed and what consultants cost the firm. Newly hired
consultants may not initially contribute positively to
profitability, necessitating close oversight by experienced
team members.

The Value of an Independent Problem Solver

Install firms
Consulting Bookeyseek App to Unlock
independent Full
problem Textcapable
solvers and
of performing under minimal Audio
supervision. A consultant's
ability to handle client interactions and solve complex issues

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Chapter 7 Summary : THE CORE
PROBLEM-SOLVING TOOLS

Summary of Chapter 7: Core Problem-Solving Tools

in Case Interviews

Introduction

As case interview formats evolve, it’s crucial to master core

problem-solving tools that apply across various interview
styles. Developing general problem-solving skills equips
candidates to handle a broader range of scenarios.

Core Problem-Solving Tools

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Consultants utilize four fundamental tools for tackling client
issues, which candidates can also apply in case interviews:
1. Hypothesis
2. Issue Tree/Framework
3. Drill-Down Analysis
4. Synthesis

Hypothesis

- Originates from the scientific method, where a hypothesis is

tested through experiment and conclusion.
- Consultants employ a similar methodology: formulating a
hypothesis about the client’s problem, testing it with relevant
data, and drawing conclusions.
- The process is iterative, allowing for revisions and further
hypotheses as new information arises.

Issue Tree/Framework

- Acts as a logical diagram to organize thoughts and test

hypotheses.
- Functions similarly to legal arguments, breaking down
assumptions into conditions.

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- Frameworks are templates based on common issue trees,
aiding in addressing frequent client problems like declining
profits.

Drill-Down Analysis

- Involves analyzing data to validate or refute each condition

of the hypothesis.
- The process requires careful examination of each branch of
the issue tree, leading to logical conclusions or new
hypotheses based on findings.
- This iterative process resembles the systematic nature of
consulting work.

Synthesis

- This step entails succinctly communicating the conclusion,

recommendations, and the rationale behind them to the
client.
- It's crucial to structure the synthesis clearly: start with what
the client should do, followed by the supporting facts.
- Effective communication should combine detailed analysis
with a focus on actionable outcomes.

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Conclusion

Understanding and mastering the four core problem-solving

tools—Hypothesis, Issue Tree/Framework, Drill-Down
Analysis, and Synthesis—are vital for success in case
interviews. Candidates will use these tools repeatedly in
various formats, preparing them for any scenario they may
encounter. Further chapters will delve into mastering these
tools comprehensively.

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Example
Key Point:The importance of the hypothesis in
problem-solving
Example:Imagine you are faced with a complex
business scenario where a company's profits have
suddenly plummeted. As you sit in front of the
interviewer, you realize that constructing a clear
hypothesis is your first step. You boldly propose that
perhaps customer dissatisfaction is the root cause. This
hypothesis guides your investigation, allowing you to
methodically gather data, probe into customer feedback,
and assess product quality. By testing your hypothesis
against real evidence, you not only uncover the
underlying issues but also demonstrate your analytical
skills, making it clear to the interviewer that you are
capable of structured problem-solving.

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Chapter 8 Summary : THE
HYPOTHESIS

Understanding Hypotheses in Case Interviews

Having grasped the fundamentals of hypotheses, it is crucial

to recognize their subtle but significant role in case
interviews. Many novices feel uneasy about hypothesizing at
the outset, perceiving it as contrary to the logical process of
gathering data first. However, the time constraints in case
interviews necessitate a more efficient approach.

The Importance of a Hypothesis-Driven Approach

Analyzing every detail might lead to indecision, leaving little

time to reach meaningful conclusions. In contrast, starting
with a hypothesis helps narrow down possibilities quickly,
even if the initial guess is incorrect. This methodology
accelerates the problem-solving process by eliminating false
avenues.

When to State Your Hypothesis

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Interviewers commonly agree that candidates should
introduce their hypotheses early, but opinions vary on the
timing. One view suggests stating the hypothesis
immediately after the case background is given, while the
other advocates for an initial brief phase for background
questions before hypothesizing. Both approaches are valid,
but candidates must ensure they articulate their hypotheses
promptly to avoid lapsing into excessive questioning.

Five-Minute Hypothesis Rule

Drawing from experience, a personal guideline called the

“Five-Minute Hypothesis Rule” is proposed. Candidates are
encouraged to articulate a hypothesis no later than five
minutes into a 30-40 minute interview to avert the risk of
forgetting it altogether. If a candidate opts for a delayed
hypothesis statement, they should communicate their
intention to the interviewer, which helps in maintaining focus
and accountability.

Handling Different Interview Formats

It's essential to note that certain interview formats,

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particularly those practiced at McKinsey, dictate a more
structured and pre-scheduled approach to hypotheses. In such
formats, candidates must define their hypothesis and issue
tree during designated segments, emphasizing the need for
clear communication early in the interview process.

Conclusion

The balance between timing and clarity in stating a

hypothesis is critical. Stating it too late is far more
detrimental than being a bit too early, as timely articulation
can significantly influence overall performance in case
interviews.

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Chapter 9 Summary : THE ISSUE
TREE

Summary of Chapter 9: Problem Structuring in

Case Interviews

Understanding Problem Structuring

Problem structuring is akin to designing an experiment to

validate a hypothesis regarding a client's issue. Interviewers
assess candidates on their ability to logically and definitively
test hypotheses, often using tools like issue trees and
frameworks.

Issue Tree and Framework Defined

-
Issue Tree
: A logical structure to test a hypothesis.
-
Framework

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: A pre-defined issue tree template customized for specific
cases, useful for analyzing common business problems, like
profitability.

Structure of an Issue Tree

An issue tree visually displays a logical argument or

hypothesis, akin to a tree diagram. Each branch represents a
condition that, if true, supports the hypothesis. A robust issue
tree should pass three validity tests:
1. Your Hypothesis
2. The McKinsey MECE Test
3. The Victor Cheng “Conclusiveness” Test

Validity Tests

1.
Your Hypothesis
: Candidates must state a hypothesis before creating a
framework. A framework should facilitate testing that
specific hypothesis.
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2. Audio
The McKinsey MECE Test

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Chapter 10 Summary : DRILL-DOWN
ANALYSIS

Understanding the Process of Elimination in Case

Interviews

Overview of Issue Trees and Hypotheses

An issue tree is a framework made of components that

collectively support or challenge a hypothesis. The
examination of each branch requires a process of elimination
to verify or refute the hypothesis.

Analyzing Branches of the Issue Tree

While assessing the branches, if a specific branch aligns with

the hypothesis, it could remain valid. Conversely, if analysis
disproves a branch, the hypothesis should be revised, leading
to a need for a new issue tree to re-evaluate the hypothesis.

Example Hypothesis

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For instance, if the hypothesis states that a client should enter
the XYZ market based on consumer demand, competitive
advantage, and manageable competition, each point must be
tested against real data to confirm validity.

Testing the Hypothesis

Continuous verbalization of thoughts during the analysis is

encouraged, as it reveals recognition of logical discrepancies.
To test the sub-hypothesis surrounding the client's
competitive edge, inquiries into customer demographics,
product offerings, operational uniqueness, and competitor
actions are essential.

Revising Hypotheses

In light of findings, a candidate may need to adjust the

original hypothesis, such as shifting from suggesting market
entry to considering specific segments based on new insights
and data relationships.

Applying the Process of Elimination

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Using the process of elimination requires synthesizing data to
clarify which hypotheses hold value and which do not. By
discovering ambiguities, candidates can pivot toward a more
strategic hypothesis, often falling between extremes.

Tips for Effective Analysis

Tip #1: Start with High-Impact Branches

Begin by analyzing branches that can provide decisive

insights, communicating this strategy to the interviewer to
demonstrate orderly thinking.

Tip #2: Employ Mixed Analysis Techniques

Utilize both quantitative and qualitative analyses in a

balanced manner, ensuring to validate qualitative insights
with numerical data.

Tip #3: Thoroughly Analyze Branches

Candidates should avoid prematurely concluding an analysis.

Each branch should be examined sufficiently to either

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confirm or negate the hypothesis logically.

Tip #4: Identify Minimally Necessary Data

Don't delve into unnecessary details; focus on sufficient data

that allows for a clear conclusion without overanalyzing.

Tip #5: Utilize Visual Note-Taking

Organize notes using diagrams rather than lengthy text notes.

This method helps maintain clarity throughout the analysis
process.

Benefits of the Process of Elimination

Clients often struggle to accurately identify problems,

mistaking symptoms for root causes. Consultants skilled in
analytical problem-solving can navigate this complexity
effectively. By including clients in the analytical process,
they are more likely to accept the final recommendation,
having witnessed the methodical deductions leading to it.

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Example
Key Point:Utilizing the Process of Elimination in
Case Interviews
Example:Imagine you are presented with a case where
you must advise a company on whether to launch a new
product. You start with a hypothesis that consumer
demand will guarantee success. As you draw your issue
tree, you identify key branches: customer needs, market
competition, and production costs. Instead of merely
asserting your hypothesis, you actively test each branch
by seeking data on consumer preferences and analyzing
competitors' market strategies. Through this process,
you find that consumer interest is lower than
anticipated, prompting you to eliminate that branch and
revise your hypothesis. This leads to a focus on niche
marketing strategies rather than a broad launch. This
methodical elimination of possibilities helps you arrive
at a clearer, more strategic recommendation,
demonstrating your analytical prowess to the
interviewer.

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Critical Thinking
Key Point:The process of elimination is crucial for
effective hypothesis testing in case interviews.
Critical Interpretation:While Cheng emphasizes the
necessity of the process of elimination in validating
hypotheses, readers should remain skeptical as this
could oversimplify the complexity of real-world
problems. The reliance on structured frameworks like
issue trees may overlook the nuances of certain cases,
suggesting that flexibility is equally essential.
Alternative methods such as those proposed by
Kahneman and Tversky in 'Thinking, Fast and Slow'
highlight the cognitive biases that can affect
decision-making, indicating that a rigid application of
the elimination process may lead to erroneous
conclusions.

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Chapter 11 Summary : SYNTHESIS

Synthesis in Case Interviews

Overview of Synthesis

Synthesis is the process of summarizing insights and

conclusions throughout a case interview, particularly at the
end. It involves articulating progress and findings in a
structured manner, contrasting sharply with a bottom-up
summary saturated with details.

Structured Approach to Synthesis

1. State a clear, action-oriented recommendation or

conclusion.
2. Provide up to three supporting points.
3. Restate the recommendation or conclusion.
This top-down communication method is essential in
consulting, as executives value brevity and clarity.

Importance of Effective Synthesis

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Senior executives who manage large organizations prioritize
concise communication. A poor synthesis can waste valuable
time, leading to lost opportunities and resources. Thus,
mastering this synthesis format is crucial for success in
interviews and consulting roles.

Common Pitfalls in Synthesis

An example of ineffective synthesis highlighted a candidate

who presented too many points that did not clearly support
the main conclusion. A successful synthesis should remain
focused, with a maximum of three reasons supporting the
primary recommendation.

Examples of Improved Synthesis

Revisions to the candidate's synthesis emphasized clarity,

proper structure, and concise language. The revised version
effectively communicated the recommendation and
corresponding rationale.

When to Synthesize

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Synthesis should be employed not only at the end of the case
but also throughout the interview, especially when
transitioning between branches of the issue tree or revising a
hypothesis. Brief, clear communication during these
transitions helps maintain focus and structure in
problem-solving discussions.

Conclusion

Practicing synthesis can enhance communication skills,

setting candidates apart in competitive environments.
Recording and analyzing synthesis can lead to improvement
and mastery of this critical skill for case interviews.

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Example
Key Point:Master the structured synthesis technique.
Example:Imagine you are wrapping up a challenging
case interview; instead of diving into complex details,
you confidently state your clear recommendation that
the company should adopt a digital marketing strategy
to increase customer engagement. You follow up with
three concise supporting points: first, the current
audience's online behavior trends are shifting towards
digital platforms; second, competitors have successfully
increased their market share by embracing such
strategies; and third, implementing this approach can
lead to a cost-efficient marketing model. After laying
down these points, you restate your recommendation,
reinforcing your position with impactful clarity, thereby
showcasing your ability to synthesize information
effectively in a way that resonates with executives.

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Chapter 12 Summary : CORE
FRAMEWORKS

PART FOUR

CORE FRAMEWORKS

The Role of Frameworks

Frameworks serve as issue tree templates to tackle common

business problems. Individual consultants customize these
frameworks based on their experiences. Candidates are
encouraged to memorize the frameworks initially, then adapt
them to specific cases. It is crucial to remember that
frameworks are tools for testing hypotheses, not simply for
memorization.

The Core Frameworks

The three primary frameworks used frequently are:

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1. Profitability
2. Business Situation
3. Mergers and Acquisitions
These frameworks cover approximately 70% of potential
case scenarios. Mastering profitability and business situation
frameworks enables preparedness for over 98% of cases. It's
important to use only relevant portions of frameworks during
interviews.

The Case Against Memorizing Too Many

Frameworks

Memorizing numerous frameworks distracts from mastering

essential skills, such as hypothesis formulation and custom
issue trees. Candidates who focus on a limited number of
frameworks typically achieve higher proficiency. While
memorizing many frameworks may seem beneficial, in
practice, it leads to superficial understanding and ineffective
application.

When to Use Each Type of Framework

Install Bookey App to Unlock Full Text and
1. Audio
The Profitability Framework

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Chapter 13 Summary :
PROFITABILITY FRAMEWORK

THE PROFITABILITY FRAMEWORK

The Profitability Framework is a mathematical method to

analyze a company's financial profits by breaking them down
into revenues and costs. The foundational profit formula is:
Profits = revenues - costs

Analysis Steps

1.
Identifying the Problem

- Determine if the profit issue is driven by revenue or costs.

- For revenue-driven problems, consider the components:
- Revenue = unit price x number of units sold.
2.
Segmenting and Isolating

- Segment profits into sales and costs to identify the

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primary issue.
- Drill down into components of units sold and isolate the
elements affecting sales.
3.
Business Situation Framework

- Transition to a qualitative analysis to understand the root

cause behind the identified issues.

Drilling Down and Pulling Up

- The process of "drilling down" entails exploring the

branches of an issue tree to find the source of the profitability
problem.
- If necessary, pull up to review different branches after
gathering insights from one.

Sample Analysis

Disaggregating Costs

- Breakdown costs into units sold and cost per unit for easier
analysis.

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- Understanding fixed vs. variable costs is crucial:
- Fixed costs remain constant regardless of units sold.
- Variable costs change in relation to units sold.

Segmenting Costs

- Analyze costs by fixed versus variable nature.

- Segment costs by expense categories or stages in the
operational process based on the interviewer's data.

Expecting the Unexpected

- Be adaptable; cost analysis may require different

segmentation patterns.

Always Compare Metrics

- Compare metrics against historical data or industry

standards for context.
- Identifying if a specific cost or metric is high or low
depends on these comparisons to uncover the root of
profitability issues.

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Chapter 14 Summary : BUSINESS
SITUATION FRAMEWORK

Business Situation Framework Overview

The Business Situation Framework is a versatile tool for

various business scenarios, including new market entries,
product launches, and growth strategies. It helps analyze
qualitative aspects that influence business decisions and
encompasses four main components:
1. Customer
2. Product
3. Company
4. Competition
These components facilitate a comprehensive understanding
of the relevant data impacting business decisions.

Using the Framework

Initially, the framework serves as an information-gathering

tool. Focusing on "high-probability questions" from each
component helps uncover significant insights that can refine

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hypotheses. It emphasizes that the framework is flexible and
can be adjusted based on the case requirements.

Customer Analysis

Key questions for customer analysis include:

- Who is the customer?
- What are the segment needs?
- What is the price sensitivity of each segment?
- What are distribution channel preferences?
- What is the customer concentration?
These questions guide the understanding of market demand
and customer dynamics.

Product Analysis

Important questions for product analysis encompass:

- What is the nature of the product?
- Is it a commodity or unique good?
- Are there complementary goods or substitutes?
- What is the product life cycle?
- How is it packaged?
These inquiries help evaluate the product's market position
and potential.

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Company Analysis

Analyzing the company involves assessing:

- Capabilities and expertise
- Distribution channels
- Cost structure
- Investment costs
- Intangible assets
- Financial situation
- Organizational structure
Understanding these areas ensures a holistic view of the
client's strengths and weaknesses.

Competition Analysis

Competition analysis includes:

- Competitor concentration and structure
- Competitor behaviors
- Best practices
- Barriers to entry
- Supplier concentration
- Regulatory environment
These factors provide insight into the competitive landscape

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and strategic positioning.

Practical Tips for Using the Framework

It is common not to complete the entire framework during

case discussions. Identifying key insights early can lead to
refining hypotheses and determining the most relevant
questions to pursue next. It is crucial to remain engaged and
attentive during the process to capture significant information
shared by the interviewer, as the overarching goal is to test
and refine hypotheses, not simply to finish the framework.

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Chapter 15 Summary : MERGERS AND
ACQUISITIONS FRAMEWORK

Mergers and Acquisitions (M&A) Framework

The M&A framework is utilized when evaluating whether

one company should merge with or acquire another
company. This framework focuses on the conceptual
rationale for such decisions rather than on financial return
calculations or industry capacity changes.

Key Elements of the M&A Framework

The M&A framework is a variation of the business situation

framework, addressing four components essential to
understanding any business:
- Customers
- Products
- Company
- Competition
Each of these components is analyzed for both companies
involved in the potential merger or acquisition. Following the

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independent analysis, a third analysis assesses the combined
companies to gain qualitative insights into the benefits of the
transaction. This qualitative data is then used to refine
hypotheses and estimate the potential financial benefits
quantitatively.

Types of M&A Transactions

Common cases revolve around two main focuses: strategic

value and cost savings.
1.
Strategic Value Deals

- The premise is that the merged companies can achieve

greater results together than they would independently.
- Example: A large company enhances distribution
capabilities for a small company with a novel product
through its established sales network.
2.
Cost Savings Deals

- Install
The focusBookey App tofirms
is on combining Unlock Full Text
to eliminate costs,and
creating immediate financialAudio
benefits.
- Benefits are typically short-term and realized once, as

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Chapter 16 Summary : FRAMEWORKS
IN ACTION

Summary of Chapter 16: Flexibility in Frameworks

for Case Interviews

Overview of Case Structure

In case interviews, candidates should use frameworks and

issue trees flexibly, adapting them to effectively analyze the
problem presented. This chapter illustrates the application of
these frameworks through a candidate-led case, focusing on
Omega & Omega, a billion-dollar advertising agency facing
stagnant sales and profits.

Defining the Problem

The candidate begins by confirming the client's goal of

growing both sales and profits. The initial hypothesis
suggests a sales growth issue, leading to the breakdown of
profits into components of sales and costs, using a

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profitability framework. The candidate analyzes industry
performance indicators to differentiate between
company-specific problems and broader industry issues.

Analyzing Industry Context

By comparing Omega & Omega's performance to industry

data, the candidate identifies that the wider industry has
experienced a 10% growth in sales and profits, indicating a
sales issue specific to the client. Focus shifts to
understanding what the competitors are doing differently,
emphasizing the need to compare performance metrics across
historical periods and industry benchmarks.

Exploring Customers and Competitors

The candidate decides to investigate the customer base and

competitors, noting that while Omega & Omega retains its
number of accounts and average billing, competitors are
gaining market traction, particularly in digital advertising. To
refine their hypothesis, the candidate assesses the growth
dynamics of different agency types, confirming substantial
growth in the digital advertising sector.

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Investigation of Customer Segments

The candidate probes deeper into customer segments,

revealing that Fortune 500 companies are shifting their
advertising budgets towards digital channels. The candidate's
analysis indicates that Omega & Omega’s reliance on
traditional media could jeopardize its long-term relationships
with core clients.

Identifying Operational Gaps

As the case deepens, the candidate explores Omega &

Omega's strengths and weaknesses, discovering a significant
skills mismatch regarding digital advertising, where clients
desire quantifiable performance metrics. The conclusion
suggests that Omega & Omega may need to pivot toward
digital capabilities.

Strategic Recommendations

The candidate proposes two strategic options for Omega &

Omega: building digital capabilities internally or acquiring a
firm with established strengths in digital advertising. eCool
emerges as the preferred target due to its market share and

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alignment with Omega & Omega’s goals.

Conclusion and Learning Takeaways

This chapter underscores that hypotheses should guide case

analyses, with candidates adapting frameworks to
substantiate their theories. The use of various analysis tools
throughout the case exemplifies how one should structure
their approach in a case interview, while also emphasizing
the necessity of clear communication and logical justification
for decision-making.

Further Resources

For practical insights, candidates are encouraged to explore

the author’s Look Over My Shoulder program, which
includes a collection of case interview recordings and expert
commentary to refine their skills.

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 Chapter 17 Summary : HOW TO OPEN
A CANDIDATE-LED CASE

Section Content

Part PART FIVE

Title The Candidate-Led Case

Chapter Chapter 17: How to Open a Candidate-Led Case

Overview The candidate-led case interview allows candidates to steer the direction and reflects real client interactions,
testing problem-structuring abilities.

How to Request information logically and coherently to manage overwhelming feelings due to limited data.
Start

Practical
Steps
Step #1: Stall - Pause to gather thoughts and refer to similar cases.
Step #2: Clarify Your Understanding - Verify terms and context to avoid misunderstandings.
Step #3: Stall Again - Organize thoughts and approach the case.
Step #4: State Your Hypothesis - Present an initial hypothesis to guide analysis.
Step #5: Case Structure - Create and communicate a structured approach for analysis.

Conclusion Thinking like a consultant differentiates candidates in interviews. Subsequent chapters cover case structure
analysis.

PART FIVE

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The Candidate-Led Case

Chapter 17: How to Open a Candidate-Led Case

Overview

The candidate-led case interview format allows candidates to

steer the direction of the case. This unstructured approach
can be challenging as candidates must initiate questions and
gather necessary data with little initial information.
Consulting firms prefer this format as it reflects real client
interactions and tests candidates' problem-structuring
abilities.

How to Start?

At the onset of a case, candidates might feel overwhelmed

due to limited data. It’s crucial to request information
logically and coherently, reflecting real-world consulting
scenarios where time and resources are constrained.

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Practical Steps to Open a Case:

Step #1: Stall!

Pause after receiving the question to gather thoughts and

reduce initial panic. This moment allows candidates to recall
similar cases and determine a suitable framework for
analysis.

Step #2: Clarify Your Understanding

Verify the meaning of terms and the context of the case to

avoid misunderstandings, ensuring clarity around the client’s
situation and objectives.

Step #3: Stall Again!

After clarifying, ask permission to organize thoughts. Use

this time to formulate steps for approaching the case.

Step #4: State Your Hypothesis

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Present an initial hypothesis based on available information,
even if it's arbitrary. This helps organize analysis and
encourages candidates to adjust their hypothesis as new data
emerges.

Step #5: Decide, Draw, and Communicate Your Case

Structure

Create a structured approach or framework for the analysis.

Present this structure to the interviewer, explaining the
rationale behind it. Engaging the interviewer like a consultant
not only demonstrates professionalism but also enhances the
chances of success in the case interview.
The chapter emphasizes that acting and thinking like a
consultant can significantly differentiate candidates in a
competitive interview process. The next steps involve
analyzing the established case structure, which is covered in
subsequent chapters.

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Example
Key Point:Understanding the importance of
structuring your approach during a candidate-led
case interview is vital.
Example:Imagine walking into an interview and being
presented with a complex business problem. Initially,
you might feel uncertain and overwhelmed by the lack
of information. However, by pausing first to collect
your thoughts and then asking clarification questions
like, 'What are the key objectives of the client in this
scenario?' you start taking control of the conversation.
You articulate your hypothesis, perhaps suggesting, 'I
believe the client is struggling with cost management,'
which not only shows your analytical thinking but also
helps frame the discussion. This structured approach,
where you actively guide the conversation, mirrors
real-world consulting effectively, showcasing your
ability to think critically under pressure, leading to a
strong performance in the interview.

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Chapter 18 Summary : HOW TO
ANALYZE A CANDIDATE-LED CASE

Analyzing a Case: The Importance of Framework

and Disaggregation

Introduction to Analysis

It is crucial to frame a case correctly, enabling easier analysis

of key issues within your framework or issue tree. Analysis
involves breaking down problems into their component parts,
allowing for deeper understanding and more effective
problem-solving.

The Value of Segmenting a Number or Problem

Average and total numbers can be misleading. By dissecting

averages or totals, a clearer representation of the underlying
situation emerges, highlighting critical differences that can
affect decision-making.

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Why Totals and Averages Can Mislead

- Total numbers and averages can misrepresent the situation

and obscure vital information.
- Examples illustrate that comprehensive breakdowns often
reveal more insightful and nuanced interpretations of data.

The Analysis Process, Step-by-Step

1.
Phrase Each Qualitative Branch as a Sub-hypothesis
: Convert passive analyses into active investigations.
2.
Drill Down Each Branch by Asking for Data
: Request specific data to test hypotheses methodically.
3.
Use a Process of Elimination
: Assess which factors influence your sub-hypotheses and
eliminate those that are not relevant.
4.
Revise Your Hypothesis as Needed
: AsInstall Bookey
new data comes in,App toyour
adjust Unlock Full to
hypothesis Text
alignand
with
the findings. Audio
5.

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 Chapter 19 Summary : HOW TO
CLOSE A CANDIDATE-LED CASE

Section Key Points

Closing a Case: Synthesis Synthesis involves reassembling information into a cohesive conclusion, similar to building
Over Analysis with Lego blocks.

Importance of Presenting the main conclusion first creates clarity and structure, distinguishing top candidates.
Conclusion-First Approach

Quality of Synthesis

Poor Synthesis: Disorganized information; lacks clear conclusions (e.g., chaotic child’s
account).
Good Synthesis: Structured conclusion with relevant data (e.g., straightforward fire
announcement).
Great Synthesis: Clear, action-oriented conclusion with logical data support, followed by a
restatement (e.g., detailed communication about a fire with a call to action).

Application of Synthesis in Effective synthesis can aid in advising on business decisions and internalizing the approach in
Real-Life Scenarios everyday conversations.

Conclusion: Importance of Exceptional synthesis is key for receiving offers from prestigious firms and can differentiate
Synthesis in Interviews interview performance.

CLOSING A CASE: SYNTHESIS OVER

ANALYSIS

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Closing a case involves synthesis, the process of
reassembling pieces of information into a cohesive
conclusion. This is akin to constructing a model with Lego
blocks and demonstrating how they fit together to form
something understandable.

Importance of Conclusion-First Approach

When closing a case, it's essential to present the overarching

conclusion first, followed by supporting details. This method
distinguishes top candidates, as it creates clarity and
structure.

Quality of Synthesis

1.
Poor Synthesis
: Presents information in a disorganized fashion, lacking a
clear conclusion or actionable insights.
- Example: A child’s chaotic account of an incident devoid
of clarity.
2.
Good Synthesis

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: Provides a structured conclusion backed by relevant
supporting data.
- Example: A straightforward announcement of a fire with
no additional context.
3.
Great Synthesis
: Offers a clear, action-oriented conclusion, supported by
logically related data points, followed by a restatement of the
conclusion for emphasis.
- Example: A detailed, structured communication regarding
a fire, employing quantitative data and a clear call to action.

Application of Synthesis in Real-Life Scenarios

Using the effective synthesis structure can be beneficial in

various contexts, such as advising a CEO on business
decisions. Practicing this method in everyday conversations
can help internalize the approach.

Conclusion: Importance of Synthesis in Interviews

While achieving final interview rounds may be possible

without exceptional synthesis, receiving an offer from
prestigious firms often hinges on it. Subtle differences in

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synthesis quality can significantly impact interview
outcomes. Recognizing areas for improvement can elevate
performance from adequate to exceptional.

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Critical Thinking
Key Point:The synthesis approach to closing a case
can elevate candidates in competitive interviews.
Critical Interpretation:Victor Cheng emphasizes the
importance of presenting a cohesive conclusion before
delving into supporting data; this 'conclusion-first'
strategy highlights clarity and organizational skills that
may impress interviewers. However, it is essential to
critically evaluate whether this approach universally
applies across different interview scenarios or
industries. Synthesizing complex information in a
clearer manner is undeniably beneficial, but it might not
always be the best strategy depending on the context of
the case or the preferences of the interviewer. For
example, some may favor thorough analytical
discussions over succinct conclusions, suggesting that
flexibility and adaptability could be equally crucial in
case interviews (Schmidt, 2017; Anderson, 2020). Thus,
while Cheng’s viewpoint is insightful, candidates
should be cautious about rigidly applying any single
method without considering the specific dynamics of
each interview.

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Chapter 20 Summary : THE
INTERVIEWER-LED CASE

Variations on the Candidate-Led Case

Chapter 20: The Interviewer-Led Case

Overview

The Interviewer-Led Case, also known as the “command and

control” style case, is a structured format that consists of five
distinct phases. Here, the interviewer controls the direction,
pace, and sequence of problem-solving. McKinsey is
currently the only consulting firm using this interview style.
This chapter details how this method simplifies candidate
performance by reducing ambiguity and requiring less
integration of various problem-solving tools.

Case Format Structure

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In an interviewer-led case, transitions between the phases are
prompt and can be abrupt, making time management crucial.
Candidates typically engage in five main phases:
1.
Introduction/hypothesis
: The interviewer presents the client’s problem and requests a
hypothesis.
2.
Problem structuring/issue tree
: Candidates break down the problem into manageable
components.
3.
Analysis
: Focused quantitative analysis on a chosen issue.
4.
Business acumen/brainstorming question
: Generation of creative solutions without detailed analysis.
5.
Synthesis
: Wrap-up of the case and summary of findings.

Subtle Aspects of the Interviewer-Led Case

Candidates must be precise and thorough in each phase, as

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they cannot revisit missed points later. Each phase typically
lasts about five to ten minutes, requiring meticulous time
management.

Phases of the Case

-
Step #1: Introduction/Hypothesis
: Candidates establish a working hypothesis to guide the
case.
-
Step #2: Problem Structuring/Issue Tree
Development
: Candidates outline their complete structure rapidly, as
detailed explanations of importance are necessary.
-
Step #3: Analysis
: Candidates perform focused calculations based on provided
data, emphasizing the need for clear formula formulation and
meticulous note-taking to avoid confusion.
-
Step #4: Business Acumen/Brainstorming Question
: Candidates brainstorm ideas for addressing the client’s
issue. A structured response is preferred over a simple list,

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showcasing broader thinking.
-
Step #5: Synthesis
: Candidates present a structured conclusion, summarizing
the case and identifying potential further analysis, which
emphasizes their foresight and understanding of consulting
dynamics.

Conclusion

The interviewer-led case format necessitates a strong

command of problem-solving tools, particularly issue tree
structuring and synthesis. Candidates are encouraged to
navigate this structured environment efficiently to
demonstrate their analytical, organizational, and strategic
thinking capabilities, which are critical for success in
consulting interviews.

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Chapter 21 Summary : THE WRITTEN
CASE INTERVIEW

Overview of Candidate-Led Case Interviews

In traditional candidate-led case interviews, candidates

receive only the data they specifically request, allowing them
to operate with a pre-formed hypothesis. This format does
not adequately evaluate the candidate’s ability to analyze and
interpret large amounts of data, a skill highly valued by
consulting firms.

Assessment of Data Interpretation Skills

Consulting firms often utilize standardized test scores (such

as SAT, GMAT, or GRE) to assess candidates' data
interpretation skills. However, trends indicate that these
scores may not fully reflect a candidate's capability in this
area, as the relevant sections only contribute a small
percentage to the overall score. Consequently, firms like
McKinsey have developed specific assessments like the
Problem Solving Test (PST) to better gauge this important

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skill.

The Role of Written Assessments

Many firms have increasingly incorporated written

assessments and case analyses in their recruitment processes.
The term “written case” can be misleading as it may
encompass a variety of formats. For instance, candidate-led
cases are primarily verbal, while some firms provide
extensive written materials for analysis, indicating a varying
degree of engagement with written components.

Preparation Strategies for Written Cases

Preparing for written cases can be challenging because data

interpretation is a logical skill that varies in difficulty among
individuals. Candidates should evaluate their strengths in
math and logic to determine where to focus their preparation
efforts. For those with a strong math background, honing
data interpretation skills can be beneficial. Conversely, for
candidates with weaker math skills and in firms emphasizing
Install
written Bookeysignificant
assessments, App to Unlock Full Text
time investment in and
strengthening these skills isAudio
advisable.

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Chapter 22 Summary : THE GROUP
CASE INTERVIEW

Group Case Interview Format

The group case interview involves candidates working

together to solve a case, highlighting teamwork and
collaboration rather than competition. This method is utilized
by firms like Monitor & Company and has been
experimented with by McKinsey in various locations.
Recruitment processes are continually refined based on
performance analysis of recent hires, particularly focusing on
the reasons behind new consultants' failures.

Why New Consultants Fail

New consultants often fail due to poor client management

skills or an inability to acknowledge their mistakes.

Poor Client Management Skills

Consultants should avoid directly contradicting clients, as

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this can lead to conflict. Instead, they should diplomatically
offer alternative perspectives to guide the client without
causing embarrassment. Being perceived as a liability can
lead to limited opportunities within the firm.

Stubbornness and Argumentation

Stubborn consultants tend to reject better ideas from

teammates, compromising their effectiveness. The ability to
accept correction and integrate new ideas is crucial for
success in consulting.

The “Enemy” Is the Case, Not Your Teammates

Participants should view fellow candidates as teammates

working towards the common goal of solving the case.
Insults or harsh criticisms can undermine client management
skills, which are essential in consulting.
Strong consultants lead discussions by guiding clients to
conclusions through fact-based dialogue rather than
confrontational assertions. Acknowledging teammates' good
ideas is important; collaboration and refinement of ideas
occur frequently in real consulting environments.

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Conclusion

The focus of the group case interview is collective

problem-solving rather than individual competition.
Candidates should collaborate to address the case effectively
while maintaining a respectful and constructive approach
towards each other. This style of engagement mirrors actual
consulting scenarios, where teamwork and flexibility are
paramount.

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Chapter 23 Summary : THE
PRESENTATION-ONLY CASE
INTERVIEW

Chapter Summary: Case Interview Presentation

Techniques

In a traditional candidate-led case interview, candidates

utilize four main tools: hypothesis, issue tree, analysis, and
synthesis. However, some firms, like BCG and Bain, are
trialing a presentation-only format, focusing more on the
results than the process, where candidates analyze data and
present findings.

Key Elements of the Presentation-Only Format

- The interviewer will actively challenge your presentation,

requiring rigorous support for your assertions.
- Success in this format hinges on three competencies:
1. Processing a large dataset.
2. Creating a synthesis-oriented presentation.
3. Presenting findings effectively.

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Structure of a Slide Presentation

A well-structured presentation follows the same framework

regardless of length:
- Conclusion
- Supporting Point 1
- Supporting Point 2
- Supporting Point 3
- Restate Conclusion
Longer presentations maintain this structure but can
incorporate more detail beneath each supporting point,
including charts or data exhibits.

Example Presentation Structures

-
Collapsed Structure (5 Slides)
: Directly presents the conclusion with supporting points.
-
Expanded Structure (14 Slides)
: Delves deeper into each supporting point with additional
subpoints and evidence.

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Creating Effective Slides

A good slide consists of:

1. A supporting chart or data table.
2. A chart label explaining what it depicts.
3. A compelling title that highlights the key message.
Avoid using the chart label as the slide title; instead,
articulate the main takeaway or conclusion as the title.

Telling the Story

The presentation should convey a coherent narrative that

logically transitions through each point, starting from the
conclusion and then supporting it with evidence.

Practical Tips for Creating a Presentation

- Manage your time effectively to ensure a complete

presentation.
- If allowed, reuse provided slides to expedite the process and
focus on creating informative titles.

Presenting the Story

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When presenting:
- Begin with the conclusion and share the structure of your
presentation.
- Engage your audience with conversational and
understandable language instead of reading verbatim from
slides.

The Communication Rhythm

Maintain a fluid rhythm by:

1. Highlighting the relevant slide.
2. Answering the “so what?” question effectively.
3. Explaining the chart that supports the point.
In summary, successful presentations in case interviews
require a rigorously structured approach that emphasizes
clarity, strong storytelling, and a focus on effectively
communicating key insights.

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 Chapter 24 Summary : HOW TO GET
MULTIPLE JOB OFFERS
Section Summary

Understanding Case Case interviews assess the application of knowledge in high-pressure scenarios rather than just
Interviews theoretical knowledge.

The Importance of Multiple Consulting firms conduct up to ten interview rounds to evaluate candidates' consistency and
Interview Rounds reduce luck's impact.

Investment in Preparation Investing 50 to 100 hours in preparation significantly enhances success rates; many candidates
realize performance expectations only after rejection.

Four Steps to Mastery

Build Knowledge: Study the case interview process and expectations.

Find Role Models: Learn from successful candidates.
Practice in a Live Setting: Simulate real case scenarios through mock interviews.
Seek Assessment from a Mentor or Coach: Get feedback to identify performance
hindrances.

HOW TO GET MULTIPLE JOB OFFERS

Understanding Case Interviews

Candidates often perceive case interviews as traditional

exams, but they fundamentally differ. While exams measure
knowledge, case interviews assess the application of that
knowledge in high-pressure scenarios. Success requires
strong habits in problem-solving and analytical skills, not

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just theoretical knowledge.

The Importance of Multiple Interview Rounds

Consulting firms typically conduct several interview

rounds—up to ten—unlike other industries that may only
have one or two. This extensive process evaluates candidates'
consistency in applying their skills across various cases,
minimizing the influence of luck.

Investment in Preparation

Statistical trends suggest that candidates who invest 50 to

100 hours in preparation significantly increase their success
rates. Many who received offers were initially
underprepared, leading to a realization of the performance
expectations post-rejection.

Four Steps to Mastery

To enhance case interview skills and form disciplined habits,

Installshould
candidates Bookey App
follow to four
these Unlock
steps:Full Text and
1. Audio
Build Knowledge

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Chapter 25 Summary : HOW TO
PROJECT CONFIDENCE

Summary of Chapter 25: Confidence in Case

Interviews

The Importance of Confidence in Consulting

Consulting firms prioritize candidates who demonstrate

confidence in case interviews due to the psychological needs
of clients facing high-stakes decisions. When clients hire
consultants, they seek not only analysis but also confidence
and reassurance. A consultant's lack of confidence can
diminish the client's trust in their recommendations, making
it crucial for interviewers to assess this trait.

Confidence and Personality Types

While confidence is often associated with extroverted

personalities, in the context of case interviews, it is more
about technical competence than personality. Introverts can

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exhibit confidence by mastering critical-thinking skills, while
extroverted candidates may falter if they lack technical
knowledge.

Three Sources of Confidence

Confidence in case interviews comes from three key sources:

1.
Extreme Technical Competence

Mastery of case interview skills is essential for projecting

confidence. Candidates must invest significant time to
develop these skills, as mere familiarity will not suffice.
High competition in consulting emphasizes the need for
technical prowess.
2.
Correct Mental Perceptions

Managing one's perception about the stakes of the

interview, personal capabilities, and viewing the interview as
a mutual assessment helps alleviate unnecessary stress.
Candidates should avoid the psychological trap of feeling
overwhelmed by the importance of the interview or
misjudging their relative competence among peers.

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3.
Extensive Practice

Gaining proficiency through diligent practice is critical.

Successful candidates often dedicate 50 to 100 hours honing
their case interview skills, regardless of their academic
background. Hard work and preparation significantly
contribute to building confidence and securing job offers in
competitive firms.

Conclusion

To succeed in case interviews and as a consultant, candidates

must combine technical competence, maintain the right
mental mindset, and practice extensively. Confidence, built
through these experiences, is vital for both personal
performance and client reassurance in the consulting
environment.

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Example
Key Point:Mastering Case Interview Skills
Example:Imagine you're sitting in a case interview,
where the interviewer is watching your every move. You
confidently lay out your structured approach to a
complex problem, using comprehensive frameworks
and supporting data. You can see that your preparation
shines through as you tackle the case with precision,
demonstrating your technical competence. This mastery
not only reassures your interviewer of your ability but
also equips you with the self-assurance needed to
engage with demanding clients in the future. You realize
that this feeling of readiness stems from the countless
hours you've spent practicing, analyzing, and perfecting
your skills, which is the bedrock of true confidence in
challenging scenarios.

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Critical Thinking
Key Point:The role of confidence in consulting
interviews is overstated.
Critical Interpretation:Victor Cheng emphasizes the
necessity of confidence during case interviews, asserting
that it is integral for client trust and consultant efficacy.
While confidence can enhance performance, it is
imperative to critically evaluate whether this trait
outweighs technical skills and analytical abilities, which
are arguably more fundamental to consulting success.
Research in performance psychology suggests that while
confidence can impact outcomes, actual competence
tends to be a stronger predictor of long-term success
(Bandura, A., 1997). Therefore, aspiring consultants
should prioritize developing their technical skills and
insights over merely projecting confidence during
interviews.

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Chapter 26 Summary : THE TEN
MOST COMMON MISTAKES TO
AVOID

Summary of Common Case Interview Mistakes

Now that the necessary concepts, skills, and knowledge for

succeeding in case interviews have been covered, here is a
recap of the ten most common mistakes candidates make:

Overview

- Candidates are often aware of these mistakes yet still

commit them, usually due to insufficient practice.
- To improve, candidates should focus on correcting one bad
habit at a time.
- Recognizing and correcting these mistakes is critical; they
account for 90% of case interview rejections.

Common Mistakes

1.

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No Hypothesis

- Candidates often lack a clear hypothesis at the beginning

of their analysis, which is essential for guiding their
questions and data requests.
2.
Framework or Issue Tree Not Linked to Hypothesis

- Candidates sometimes have frameworks that are not

adapted to their specific hypothesis, resulting in irrelevant
analyses.
3.
Framework or Issue Tree Not Mutually Exclusive
Enough

- Candidates may create overlapping categories in their

issue trees, leading to confusion and inefficiency.
4.
Framework or Issue Tree Missing a Key Factor

- Omitting critical factors can lead to incomplete analyses

and failure to answer specific client questions.
5.
Key Insight Missed Due to Insufficient

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Quantification

- Not utilizing sufficient quantitative analysis can lead to

imprecise conclusions and recommendations.
6.
Key Insight Missed Due to Lack of Qualitative
Questioning

- Focusing solely on quantitative data neglects deeper

insights that can explain client situations or market
dynamics.
7.
Math Mistake

- Any calculation errors can significantly undermine a

candidate's credibility, particularly with high-stakes clients.
8.
Jumping Around vs. Linearly, Logically Drilling
Down

- A lack of a structured approach leads candidates to jump

between topics, which confuses the interviewer.
9.
Pursuit of Analysis That’s Unnecessary to Test

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Hypothesis

- Engaging in irrelevant analyses wastes time and can

impact the firm's profitability, indicating inefficiency.
10.
Activity-Based Summary vs. Big-Picture Synthesis

- Concluding by merely summarizing findings instead of

providing a clear, actionable recommendation fails to
communicate the core insights effectively.

Conclusion

- Being aware of these ten mistakes can greatly enhance

candidates' performance in case interviews. The next chapter
will introduce advanced resources for further case interview
practice.

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Critical Thinking
Key Point:The importance of hypothesis formulation
in case interviews is often overstated by the author.
Critical Interpretation:While Victor Cheng emphasizes
that candidates must formulate a clear hypothesis to
guide their analysis, it’s crucial to recognize that this
approach may not universally apply across all interview
contexts. The rigidity of adhering strictly to a
hypothesis could stifle creative problem-solving, which
some unconventional interview styles may prioritize.
Alternative methodologies, such as adaptive
frameworks that evolve based on gathered data, might
yield equally or more effective results. For instance,
research by Fong & M. J. (2017) in 'Creative Problem
Solving in Teams' indicates that a more flexible
approach can foster enhanced creativity and innovation.
Thus, while understanding hypotheses is valuable,
candidates should also be open to fluid analytical
strategies that diverge from this prescriptive model.

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Chapter 27 Summary : ADVANCED
CASE INTERVIEW RESOURCES

Helpful Resources for Case Interview Preparation

As you progress from learning to practicing and finally to

live interviews, various resources can aid your preparation.

Resource #1: Free Book Updates, Handouts, and

Video Demos

Free updates and companion items, including printable

diagrams and video demonstrations, are available on my
website. Visit www.caseinterview.com/bonus for downloads.

Resource #2: Math Practice Tool

A free tool to improve your speed and accuracy in

computational math, essential for quantitative assessments
and case interviews. Access it at
www.CaseInterviewMath.com.

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Resource #3: Success Story Field Reports

Readers share their job offer experiences, highlighting what

was challenging and their preparation strategies. Archive
available at www.caseinterview.com under “Success
Stories.”

Resource #4: Look Over My Shoulder Program

The LOMS program includes audio recordings of case

interviews with commentary on candidate performance. This
resource complements reading materials, providing practical
insights. Learn more at www.caseinterview.com/loms.

Resource #5: Find a Case Interview Practice

Partner

Practice with a partner to enhance your skills. If you lack

suitable partners, consider the matching system developed to
connect candidates based on availability and preferences.
More information at www.CaseInterviewPartner.com.
Install Bookey App to Unlock Full Text and
Audio with a Case
Resource #6: Work One-on-One
Interview Coach

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Best Quotes from Case Interview Secrets
by Victor Cheng with Page Numbers
View on Bookey Website and Generate Beautiful Quote Images

Chapter 1 | Quotes From Pages 4-7

1.The most profitable skill I could learn would help
me pass the damn job interview! And in the
management consulting industry, that job
interview is the case interview.
2.Had I known this statistic before I applied, I would have
been far too intimidated even to try.
3.I decided to make passing the case interview my No. 1 area
of study.
4.Through this promotion I learned how consulting firms
work and how consultants think.
5.I’ve developed an uncommon insight into the case
interview from having been on both sides of the table, and
that’s what I share with you here.
Chapter 2 | Quotes From Pages 7-10
1....the major consulting firms use seven primary

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 formats grouped into two categories: (1)
quantitative assessments, and (2)
hypothetical-situation case interviews.
2.Because consulting firms intertwine these two categories of
evaluation tools, you will need to familiarize yourself with
both.
3.Interviewers ask these questions more to assess how you
answer them and less to assess the accuracy of your
answer.
4.In the traditional candidate-led case interview, the
interviewer ... stops talking—for the rest of the interview.
5....you will want to familiarize yourself with how this
format is applied.
6.The interviewer might ask you which of the four areas you
think is most important and why and then ... say, 'Let’s
tackle area number four.'
7.The interviewer never observes your analysis or
problem-solving skills—only how you present the results
of your analysis and problem solving.

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Chapter 3 | Quotes From Pages 10-12
1.I suggest you read each question carefully.
2.Math and numerical critical-reasoning skills are like
muscles—the more you use them, the stronger you get.
3.Even if you are really good at math, you will barely finish
the test.

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Chapter 4 | Quotes From Pages 13-21
1.Clients value the ability to resolve long-standing
debates of opinions, using estimates based on
reasonable assumptions.
2.Often it is much easier to solve a long series of simple
math problems than a short series of complicated ones.
3.The key to solving estimation questions is not to base your
estimates on population size automatically. Instead, base
your estimates on a relevant proxy.
4.It is very important to keep track of whether your estimate
will be too high or too low. You don’t need to keep track of
how much you’ll be off by; you just need to know if your
estimate will be too high or too low.
5.To effectively answer estimation questions, you must be
able to do mental math with larger numbers, and round
numbers intelligently.
Chapter 5 | Quotes From Pages 22-23
1.If you demonstrate that you have mastered the
skills that consulting firms want, you will do well

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 in every type of case interview.
2.If you understand the consulting firm’s and the
interviewer’s motivations—what they’re looking for and
why—you’ll find it’s much easier to perform well in a
situation you’ve never encountered before.
3.First, if you hate case interviews, you likely will hate the
job. Being a consultant is like going through a case
interview every day of your career.
4.Your opinions don’t count for much because you typically
have less industry and business experience than the client
does. So how can you prove your worth and be taken
seriously?
5.It’s also why many firms have adapted their recruiting
processes specifically to find the candidates with the
strongest interpersonal skills.
6.Even if the recommendation were 100 percent correct, the
client would sense some degree of hesitation, uncertainty,
or reservation from the consultant based on how the
message was delivered, not the content of the message

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 itself.
Chapter 6 | Quotes From Pages 24-32
1.It's important that you understand the psychology
of why interviewers do the things they do. If you
understand what they’re thinking, it’ll be a lot
easier to impress them.
2.But in addition to preparing for your case interview, keep
in mind a simple principle: Interviewers look for candidates
who seem like colleagues already.
3.Interviewers perceive a candidate who gets a mostly correct
but incomplete answer derived from a good process as
more desirable than they do a candidate who gets the right
answer but uses a poor and unrepeatable process.
4.In consulting, you’re often perceived as an outsider. Some
client contacts perceive you as a distrusted, unwanted
outsider.
5.Interviewers highly value candidates who can think and
communicate linearly (as opposed to jumping around in a
scattershot way).

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6.The No. 1 rule to being a good consultant (or candidate) is
don't be an asshole.

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Chapter 7 | Quotes From Pages 33-40
1.If you develop your problem-solving skills (as
opposed to just your case interview skills), you will
be able to deal with a wider range of problems in a
case interview.
2.Clients need proof as to which opinion is correct.
3.Drill-down analysis is essentially a process of elimination.
4.Synthesis involves stating your conclusion in a way that
tells the client what to do.
Chapter 8 | Quotes From Pages 40-42
1.Analyzing everything first takes an enormous
amount of time—time you don’t have in a case
interview.
2.when you take a hypothesis-driven approach, your initial
hypothesis often is not correct, but you’re able to determine
quickly and with extremely high confidence what is not
true.
3.If you have not stated a hypothesis by the fifth minute of a
30-to-40-minute interview, you’re probably at serious risk

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 of forgetting to state a hypothesis entirely.
4.Stress is to blame here. It’s easy to understand what you’re
supposed to do, but doing it under real-world conditions
and stress can be difficult.
5.Whether it’s better to state a hypothesis too early or too
late, the final word is that it’s far worse to be too late. The
latter will get you rejected, but the former by itself won’t.
Chapter 9 | Quotes From Pages 42-50
1.The only reason you use a framework or issue tree
is to test a hypothesis!
2.The hypothesis is more important than the framework.
3.A case interview is a thinking game, not a memory recall
game.
4.If your issue tree (or your framework) does not pass these
three tests, then the validity of your issue tree declines
dramatically.
5.Framework vomit. All you do is swallow a bunch of
frameworks in preparation for a case interview and then
vomit them all back up during the case, regardless of

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whether they actually work for that specific case.

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Chapter 10 | Quotes From Pages 50-58
1.You need to use a process-of-elimination approach
to analyze the components of your issue tree or
framework.
2.It’s perfectly acceptable and highly encouraged for you to
say, 'Hmmm, if half the market is growing and the other
half is shrinking, this data casts some doubt as to whether
my initial hypothesis is correct.'
3.Let’s take a look at the structure (there’s that word again)
of the argument. Upon closer inspection, we’ll find that the
argument is very weak.
4.The likely 'right' answer is probably some nuanced option
between the two extremes... You find this answer by using
a process of elimination.
5.Deliberately show the interviewer that you’ve eliminated
that branch and have three branches left.
6.You can’t tell clients flat out they’re wrong; they’ll resist
and not believe you.
Chapter 11 | Quotes From Pages 59-63

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1.This top-down communication structure is the de
facto standard for communicating with senior
executives in consulting and in industry—and for
communicating in a case interview.
2.If you take 35 minutes to explain something that could
have been explained in five minutes to a senior executive
client, you’ve wasted 30 minutes of the client’s time—and
more than $50,000 of the company’s money.
3.Successful candidates tell me that once they receive job
offers, the interviewers go to great effort to compliment
them on their communication skills.
4.You can state up to three reasons—never more.
5.I told her I wasn’t sure what she meant by “unwind,” and
because I didn’t know the actual case, I couldn’t tell if I
agreed with that portion of her conclusion.
6.You should synthesize the case not only at the end of the
interview but also throughout the case.
7.Feeling like you’re short on time is common, and by no
means should you think of it as failing the interview.

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Chapter 12 | Quotes From Pages 64-67
1.If you memorize and recall frameworks during an
interview but never actually test the hypothesis,
you will get rejected.
2.Working consultants face the same challenge. When I
worked at McKinsey, I rarely used a standard framework in
my client work.
3.The profitability framework is useful for isolating the
mathematical cause of a drop in profit, so it may be
applicable when it’s unclear why a client is losing money.
4.You need to use both types of analysis to succeed.
5.I completely disagree with the school of thought in the case
interview preparation community that endorses
memorizing 12 or more frameworks rather than the core
three that I suggest.
6.The business situation framework is useful for developing a
conceptual and qualitative understanding of a client’s
business, market, and industry.
7.Remember, using the framework is not the goal. Testing

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the hypothesis is.

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Chapter 13 | Quotes From Pages 67-72
1.Profits comprise two branches in this issue tree:
revenues and cost.
2.When you work down a branch of an issue tree such as the
profitability framework, remember to isolate and segment.
3.Because there are lots of ways to segment, don’t waste time
trying to figure out what the interviewer is looking for.
4.The differences between fixed and variable costs are
profoundly important to running a profitable business.
5.Always, always, always compare your metrics to
something else.
Chapter 14 | Quotes From Pages 73-82
1.Once you have both a qualitative and a
quantitative understanding of the various
customer segments, move on to the next analysis.
2.The framework consists of four key components.
3.You need to let your hypothesis guide your decision about
which of the questions in the diagram... are relevant in
testing the hypothesis.

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4.The business situation framework helps you uncover
insightful information that will allow you to create a
better-informed hypothesis.
5.If you don't realize when a case involves high competitor
concentration, you could easily make a strategic
recommendation that’s flat-out wrong.
6.Sometimes all I need is an abbreviated version of the rest
of the business situation framework.
7.You're not supposed to—nor do you have the time to—ask
every question in every area.
8.The purpose is to test a hypothesis.
Chapter 15 | Quotes From Pages 83-84
1.The M&A framework is simply a variation of the
business situation framework and thus addresses
the same four key components that we need to
understand about a business: customers, products,
company, and competition.
2.The premise of a strategic value deal is that the
combination of the two companies creates something more

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 than either company could achieve on its own.
3.In the cost savings deal, the new company combines the
two companies in order to 'eliminate' a negative (in this
case, costs).
4.The primary difference between these two types of deals is
the duration of the benefits.

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Chapter 16 | Quotes From Pages 84-93
1.Always listen carefully and always double-check
that you heard correctly.
2.I may not end the case with it.
3.You want to do two things when you analyze most
company performance metrics: Compare a metric (1)
across different historical time periods, and (2) with the rest
of the industry.
4.Our goal now is to figure out what the rest of the industry
is doing that our client isn’t to grow sales.
5.A mismatch exists between Omega & Omega’s abilities
and what customers want in return for money spent in the
fastest-growing segment of the market: digital advertising.
6.Advertisers have noticed consumers shifting their media
consumption away from TV, print, and radio and toward
Internet media.
Chapter 17 | Quotes From Pages 94-98
1.You’re in charge, so you decide in which direction
you want to go.

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2.It mirrors (perfectly, I might add) how clients present
questions to consulting firms.
3.Deciding when to state your hypothesis is a point of
contention among case interview experts and interviewers.
4.You need to justify why you’re doing whatever you’re
doing.
5.Guess what tends to happen when you act like a consultant,
sound like a consultant, draw like a consultant, and analyze
like a consultant? You get job offers...
Chapter 18 | Quotes From Pages 98-106
1.It’s much easier to analyze a case you’ve framed
correctly than one you haven’t.
2.Total numbers 'lie.' Averages 'lie.'
3.You can perform disaggregation qualitatively as well.
4.Don’t jump around arbitrarily.
5.Propose a solution only after you’ve isolated and defined
the problem.
6.If you’ve uncovered data that disproves your hypothesis,
your hypothesis is wrong.

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Chapter 19 | Quotes From Pages 107-109
1.CLOSING A CASE is about synthesis.
2.If analysis is akin to pulling all the Lego blocks apart to
evaluate each one individually, then synthesis is akin to
reassembling all the blocks and telling the client, 'Hey, it
looks like a house! Here’s why ...'
3.When you close a case, state the big picture first: 'When we
assemble all the Legos, they look like a house.'
4.This synthesis is great because it restates the
action-oriented recommendation, and the logic throughout
is clear and toned.
5.You could use this structure to convince a CEO to sell off a
division of a company: 'Ms. CEO, we recommend that you
sell off the South American division of XYZ Corp.'
6.It is possible to get to the final round of interviews without
great synthesis, but it’s hard to get a final-round offer
without it.
Chapter 20 | Quotes From Pages 109-117
1.If you don’t get the chance to perform each step of

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 the case, you’ll get rejected automatically. But if
the interviewer cuts you off at a particular point in
the case because you haven’t yet reached a natural
transition point, you’re probably moving too
slowly and being inefficient in your approach.
2.The rigidity of this format also necessitates that you finish
each phase in five to ten minutes. Typically the interviewer
will give you five minutes for each phase except the
quantitative analysis, which sometimes takes longer.
3.Extremely high performers in case interviews routinely do
a good job explaining why they’re inclined to do certain
things in a case’s problem-solving structure.
4.Let’s use the question from above: 'What are all the
different ways you can think of to help this client grow
sales?' I would say, 'I can think of two categories of ideas.
Let me define them and then give you the ideas I have in
mind within each category.'
5.... and that’s why I recommend the client shut down
Factory 2. In addition, if we had more time, I’d want to

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 further analyze the business’s ability to be profitable in the
long run with only Factories 1 and 3...
Chapter 21 | Quotes From Pages 118-120
1....the candidate-led case interview doesn’t test the
candidate’s ability to sift through large quantities
of data and determine what’s important...—a skill
consulting firms in fact value.
2.The data interpretation sections of standardized tests
typically account for only 10 to 15 percent of the score, so
it’s possible for a candidate to score well on one of these
exams but lack mastery of the crucial data interpretation
skill that consulting firms value.
3.These firms often seek the candidates with the strongest
raw intellectual talent. As the thinking goes, a firm can
teach a highly intelligent consultant how to apply its
methodology, but the firm can’t teach someone who knows
its methodology how to be highly intelligent.
4.If you’re interviewing with a firm that uses a lot of written
assessments or cases and you know from your standardized

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 test scores that data interpretation isn’t your strength, then
it’s probably worth investing a considerable amount of
time and effort to strengthen your skills in this area.
5.GMAT and GRE practice test books are the best resources
for data interpretation practice.

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Chapter 22 | Quotes From Pages 121-123
1.Remember, it’s NOT you versus the other
interviewees. It’s you and the other interviewees
versus the case.
2.Engagement managers don’t want consultants on their
teams who are stubborn, inflexible, and argumentative.
3.I don’t tell clients they’re wrong. Instead, I speak with
them face-to-face, ask questions, and introduce facts that I
know will lead them to an inevitable conclusion.
4.If the facts are on your side, you’re expected to present
your perspective. If they’re not, you need to be flexible
enough to see that and move on.
5.Good client management skills can find a diplomatic way
to tell clients they’re wrong...
Chapter 23 | Quotes From Pages 124-130
1.Regardless of presentation length, the structure is
always identical.
2.Each of the text points above would be the title of each
slide. The body of each slide ideally would be some chart,

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 data table, or visual exhibit that supports the slide’s title.
3.Notice how the story works even if you present only the
titles of each slide (and omit the actual exhibits). That’s a
mark of a good message.
4.Instead of worrying about the word presentation, think of
the task at hand as synthesis communicated via slides.
5.Your verbal presentation shouldn’t be a word-for-word
recitation of your slides.
Chapter 24 | Quotes From Pages 131-135
1.In the case interview, you’re tested on your habits
in applying what you’ve learned in a high-stress
environment.
2.Winning a test of skills hinges on one key element:
practice.
3.By investing 50 to 100 hours in case preparation, you
improve your odds of success tenfold.
4.The gap that separates those who get offers from those who
don’t is the same gap that separates those who possess case
interview theoretical knowledge from those who have

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 made a habit of applying that knowledge consistently and
effectively across all types of situations.
5.If you participate in an average of 50 practice cases in
preparation for your interviews, you will be dramatically
better on your 50th case than on your first case.

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Chapter 25 | Quotes From Pages 135-139
1.Ultimately, consulting is the transference of
confidence (in a decision) from the consultant to
the client.
2.The No. 1 rule to being confident as a public speaker is to
know your material!
3.In American sports in particular, you hear about athletes
"choking" under pressure.
4.If stress is an issue for you, try writing 50 reasons why not
passing a particular interview isn’t a big deal.
5.The interview benefits both the firm and you.
6.Here’s another example: When I applied to McKinsey as a
Stanford undergrad, 400 Stanford students had applied, and
only 6 received offers.
7.Conveying confidence in a case interview requires
extensive practice to prove extreme technical competence
under the pressure of a live interview.
Chapter 26 | Quotes From Pages 139-145
1.90 percent of all case interview rejections are

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 based on at least one of the ten mistakes listed
below.
2.the case interview is all about applying the scientific
method to solving business problems.
3.You must constantly be asking yourself if your structure is
missing anything necessary to answer the question at hand.
4.Doing math quickly and accurately is ideal, but doing it
slowly and accurately still gives you a chance at an offer.
5.Does this specific analysis have the potential to
conclusively disprove my hypothesis?
6.Do not buy this company. It’s a bad idea.
Chapter 27 | Quotes From Pages 146-147
1.I can’t emphasize enough the importance of
practice. It sounds trite, but practice really does
make perfect—especially in a highly competitive
field such as management consulting.
2.When two equally talented candidates face their first real
case interview, the one who invested 50 to 100 hours in
preparation has an overwhelming competitive edge over

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 the one who spent just an hour or two.
3.Getting multiple job offers in management consulting
comprises three activities: Follow the proven process I’ve
outlined in this book, use the practice resources around you
(or the ones I’ve suggested), and work really hard. That’s
the secret.

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Case Interview Secrets Questions
View on Bookey Website

Chapter 1 | INTRODUCTION| Q&A

1.Question
What common obstacle do candidates face when applying
to top consulting firms?
Answer:Candidates face the case interview, a unique
and rigorous interview format used by firms like
McKinsey, Bain, and BCG.

2.Question
Why is the case interview considered a vital skill for
consulting candidates?
Answer:Mastering the case interview is critical as it can
determine a candidate's ability to secure a job, regardless of
their academic performance.

3.Question
How did Victor Cheng shift his study priorities based on
his early experiences?
Answer:After his initial failed attempt at a case interview,

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Cheng focused on dedicating significant time and effort to
mastering the case interview process rather than solely on
academic subjects.

4.Question
What was the outcome of Victor Cheng's preparation for
the case interview?
Answer:Cheng interviewed with several top consulting firms,
received six job offers, and became one of the youngest
associates in McKinsey's history.

5.Question
How does having conducted interviews shape Cheng's
understanding of the case interview?
Answer:Having been both an interviewee and interviewer,
Cheng gained insights into what firms look for, allowing him
to guide candidates effectively.

6.Question
What resources does this book provide to help candidates
succeed in case interviews?
Answer:The book is organized into seven parts covering
everything from the case interview process to specific case

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formats and interview skills, supplemented by online
tutorials and resources.

7.Question
How does Cheng stay updated with industry changes in
case interviews?
Answer:Cheng publishes an email newsletter that keeps
readers informed about the latest developments in consulting
firm recruiting methods.

8.Question
What analogy does Cheng use to describe the challenge of
succeeding in case interviews?
Answer:He likens the difficulty of preparing for case
interviews to infiltrating an elite industry and gathering
insights from those already in the field.

9.Question
What key insight about success in consulting interviews
does Cheng emphasize?
Answer:Success in consulting interviews is not solely based
on academic credentials; rather, it relies heavily on mastering
the case interview skill.

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10.Question
What does Cheng suggest candidates should do to
prepare effectively for case interviews?
Answer:Cheng suggests that candidates invest as much effort
into learning about case interviews as they do with their
academic studies, emphasizing practice and understanding of
the interview process.
Chapter 2 | THE SEVEN TYPES OF
EVALUATION TOOLS| Q&A
1.Question
What is the primary purpose of the case interview in
strategy consulting firms?
Answer:The primary purpose of the case interview
is to assess a candidate’s problem-solving abilities
through a variety of formats that evaluate math
skills, data interpretation, and reasoning.

2.Question
Why is it important to familiarize oneself with both
quantitative assessments and hypothetical case
interviews?

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Answer:It is important because consulting firms often
intertwine these assessment types during the interview
process, requiring candidates to be proficient in both areas to
succeed.

3.Question
What kind of skills does the Quantitative Test evaluate?
Answer:The Quantitative Test evaluates arithmetic skills,
data interpretation, and numerical critical reasoning abilities.

4.Question
What should you expect during an estimation question in
a case interview?
Answer:You should expect to estimate a number, typically
related to market size, using only pen and paper within a
short time limit of five to seven minutes, emphasizing the
process of making simplifying assumptions.

5.Question
How does the candidate-led case interview differ from the
interviewer-led case interview?
Answer:In a candidate-led case interview, the candidate takes
charge of determining the direction, asking questions, and

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presenting analysis, while in an interviewer-led case, the
interviewer controls the flow of the discussion and directs
where the candidate must focus.

6.Question
What is the significance of the written case interview
format?
Answer:The significance lies in the fact that candidates must
analyze a substantial amount of data presented in charts and
exhibits, preparing a written answer that demonstrates their
analytical process.

7.Question
In a group case interview, what strategy is suggested for
success?
Answer:Success in a group case interview comes from
collaborating and helping your fellow candidates rather than
competing against them, fostering teamwork.

8.Question
What can be concluded about the expectation for
candidates during a presentation-only case interview?
Answer:Candidates must excel in presenting their findings

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and recommendations, as this format only evaluates the
presentation skills without observing the analysis process.

9.Question
How should candidates view the complexity and
ambiguity of case interview questions?
Answer:Candidates should view these challenges as
reflective of real client scenarios they will encounter as
consultants, emphasizing that adaptability and
problem-solving skills are crucial in the consulting world.

10.Question
What is the ultimate goal for a candidate preparing for
case interviews?
Answer:The ultimate goal is to develop a robust set of
problem-solving skills that allow them to confidently
navigate various case formats and demonstrate their
analytical and reasoning abilities effectively.
Chapter 3 | MCKINSEY PROBLEM SOLVING
TEST| Q&A
1.Question
What are the key components of the McKinsey Problem

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Solving Test?
Answer:The McKinsey Problem Solving Test (PST)
primarily evaluates math, estimation, logic, and
critical-thinking skills. It is designed to be accessible
to candidates from diverse backgrounds, focusing on
analytical abilities rather than business knowledge.

2.Question
Why is it important to read each question carefully
during the PST?
Answer:Reading each question carefully is crucial because
rushing may lead candidates to misinterpret the question.
Instead of answering based on assumptions, candidates need
to focus on the literal question and the data provided to arrive
at the correct answer.

3.Question
How can candidates effectively prepare for the McKinsey
PST?
Answer:Candidates should take sample tests from McKinsey
and similar firms, practice solving math word problems, and

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enhance their data interpretation skills. Regular practice of
arithmetic speed and accuracy is essential to succeed in the
timed nature of the test.

4.Question
Why is practicing GRE questions recommended for PST
preparation?
Answer:Practicing GRE questions helps sharpen math and
numerical critical-reasoning skills, which are vital for the
PST. By becoming proficient in easier questions, candidates
can better allocate their time during the test to tackle more
complex problems.

5.Question
What common mistake do highly educated individuals
make when taking the PST?
Answer:Many highly educated candidates, such as those with
PhDs in math or physics, underestimate the need for practice
in basic math computations. Even with strong academic
backgrounds, they may struggle on the PST if they don't
regularly practice their math skills.

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6.Question
What resources are available to assist in preparing for the
McKinsey PST?
Answer:Resources include practice tests, sample questions
available online, and specialized tools for improving
arithmetic speed and accuracy. The author also provides links
to updated practice resources on his website.

7.Question
What does the author suggest about the evolution of the
PST?
Answer:The author notes that the PST evolves over time,
indicating that candidates must stay updated with practice
materials and test formats to ensure their preparation aligns
with recent changes.

8.Question
How important is speed in arithmetic for the PST?
Answer:Speed in arithmetic is extremely important for the
PST, as it is a timed test. Candidates often find themselves
pressed for time, making it essential to perform calculations
quickly and accurately to complete the test.

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Chapter 4 | ESTIMATION QUESTIONS| Q&A
1.Question
Why do consulting firms use estimation questions in
interviews?
Answer:Consulting firms use estimation questions
during interviews because clients often request
evaluations of numerous potential opportunities.
Considering the high cost of engagements, it's
imperative to efficiently assess these opportunities,
using estimations to eliminate options that do not
meet a minimum financial return.

2.Question
How did the estimation process help a client decide
whether to pursue a new product?
Answer:By attending to estimation questions, I helped a
client rapidly analyze the best-case revenue scenario for 30
potential new products. Through structured estimation, we
concluded that the projected revenue was insufficient to
justify the effort, hence terminating a three-year debate in

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minutes.

3.Question
What approach should one take when computing large
numbers in estimation questions?
Answer:The key is to simplify the calculations first. One
should break down complex problems into manageable parts
and compute them step-by-step, focusing on easier
multiplications and avoiding complicated decimal point
changes.

4.Question
What is the benefit of rounding numbers when doing
estimations?
Answer:Rounding numbers allows for quicker computations
when only a directionally correct estimate is needed, helping
consultants focus on the broader implications rather than
getting bogged down by minor inaccuracies.

5.Question
How can one identify a useful proxy for estimation?
Answer:A useful proxy mimics or correlates with the number
being estimated. By considering related factors and historical

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data, one can establish a proxy that provides a solid
foundation for estimating the desired figure.

6.Question
What should you do after identifying a proxy in your
estimation?
Answer:After identifying a proxy, assess its imperfections to
understand where the estimations may deviate. This helps in
refining your approach and increasing the accuracy of your
final estimation.

7.Question
How can you minimize the imperfections of a proxy?
Answer:You can minimize the imperfections of a proxy by
segmenting the estimate into smaller, more precise
sub-estimates. This granular approach allows for more
accurate calculations and adjustments within different
contexts.

8.Question
What is the overall goal when tackling estimation
questions in interviews?
Answer:The overall goal is to demonstrate the ability to think

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critically and logically through a given problem, showcasing
not just computational skills but also an understanding of the
underlying business context and decision-making processes.
Chapter 5 | WHY CASE INTERVIEWS EXIST|
Q&A
1.Question
What are the underlying skills that consulting firms
assess during case interviews?
Answer:Consulting firms assess analytical skills,
problem-solving abilities, effective communication,
and interpersonal skills during case interviews.
Candidates must demonstrate mastery of these core
consulting skills, regardless of the specific interview
format.

2.Question
Why is understanding the motivation behind the
consulting firm's recruiting process beneficial for
candidates?
Answer:Understanding the motivations helps candidates
predict what interviewers are looking for, enabling them to

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respond more effectively during the interview, especially
when encountering unexpected or unique questions.

3.Question
How do case interviews reflect real-life consulting
experiences?
Answer:Case interviews simulate daily consulting tasks, such
as tackling complex problems, making estimations, and
effectively communicating findings, which is essential for
actual job performance in consulting roles.

4.Question
What actions can a consultant take early in their
relationship with a client to establish credibility?
Answer:Consultants can establish credibility by asking
insightful questions, analyzing data for new insights, and
presenting data-supported conclusions that challenge the
client's previous notions.

5.Question
What are the consequences of delivering a
recommendation nervously during an interview?
Answer:Delivering a recommendation nervously can lead the

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interviewer or the client to doubt the validity of the
recommendation, regardless of how accurate the content may
be, due to perceived uncertainty.

6.Question
Why is confidence important in case interviews?
Answer:Confidence is crucial because it affects how
recommendations are received; a confident demeanor
reassures clients of the consultant's expertise and strengthens
the credibility of their analysis.

7.Question
How can candidates best prepare for the unpredictability
of case interviews?
Answer:Candidates can prepare by focusing on core
consulting skills and understanding the logic behind
interview processes rather than trying to memorize specific
cases, as it is impossible to predict all possible scenarios.

8.Question
What should candidates remember about their own
performance in interviews?
Answer:Candidates should remember that the way they

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present their analysis—both in terms of clarity and
confidence—matters as much as the content of their analysis;
effective communication of ideas is key.

9.Question
What does it mean to think like a consultant during a case
interview?
Answer:Thinking like a consultant means approaching every
question with a mindset focused on providing value to the
client, prioritizing insights and practical solutions over
merely impressing the interviewer.
Chapter 6 | WHAT INTERVIEWERS LOOK FOR
AND WHY| Q&A
1.Question
What fundamental principle should candidates
understand about case interviews?
Answer:Candidates should understand that
interviewers look for candidates who act like
colleagues rather than merely job seekers. This
means candidates should demonstrate
problem-solving skills and a collaborative mindset

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during their interviews.

2.Question
How can a candidate stand out in an interview?
Answer:By acting like a consultant and demonstrating
independent problem-solving abilities. Interviewers want to
see if they can trust you to work autonomously and
contribute to the consulting team without needing constant
supervision.

3.Question
Why is it crucial for consultants to avoid the 'boiling the
ocean' approach?
Answer:Consultants need to prioritize tasks effectively.
Listing every piece of information or analysis can overwhelm
the audience and is impractical in a consulting scenario.
Focusing on key information saves time and resources.

4.Question
How does a consultant determine whether their analysis
is 'accurate enough'?
Answer:Consultants often provide ballpark figures with a
reasonable margin of error rather than precise calculations, as

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clients typically seek directional answers, prioritizing speed
and relevance over precision.

5.Question
What is the significance of factual justification in
consulting?
Answer:Consultants must back their recommendations with
solid facts. Statements not supported factually undermine the
credibility of both the consultant and the consulting firm.

6.Question
What are some characteristics interviewers look for in
candidates?
Answer:Interviewers assess candidates based on their
problem-solving process consistency, ability to communicate
clearly and logically, and their interpersonal skills, ultimately
pursuing candidates who can lead and collaborate well.

7.Question
What does the 'airplane test' imply about a candidate's
interpersonal skills?
Answer:The 'airplane test' evaluates whether the interviewer
would be comfortable spending time with the candidate on a

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personal level, reflecting the importance of character and
likability in consulting roles.

8.Question
How should consultants adapt their communication when
presenting recommendations?
Answer:Consultants should present conclusions
diplomatically, explaining their reasoning clearly and
ensuring that their recommendations are client-friendly and
comprehensible, thus preventing misunderstandings.

9.Question
What is the value of synthesis in consulting?
Answer:Synthesis involves integrating insights into a
coherent strategy that improves clarity and confidence for the
client. A well-synthesized recommendation connects the dots
between micro-recommendations, showing their broader
implications.

10.Question
Why is effective communication critical for consultants?
Answer:Effective communication helps clients understand
the consultant’s analysis and recommendations. If clients

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cannot follow the thought process, they are less likely to act
on the recommendations, thus impacting consulting success.

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Chapter 7 | THE CORE PROBLEM-SOLVING
TOOLS| Q&A
1.Question
What is the most effective way to approach
problem-solving in case interviews?
Answer:Master the core problem-solving
tools—hypothesis, issue tree, drill-down analysis,
and synthesis—rather than focusing solely on case
interview techniques. This broadens your ability to
tackle diverse problems.

2.Question
How can frameworks assist in problem-solving during
case interviews?
Answer:Frameworks serve as templates that help organize
your thought process and guide your analysis, making it
easier to tackle frequently occurring problems like
profitability issues.

3.Question
What should a candidate do if their initial hypothesis
proves incorrect?

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Answer:Revisit and revise the hypothesis based on the data
gathered, then use drill-down analysis to explore other
branches of the issue tree, continuing the iterative process.

4.Question
Why is the synthesis stage critical in case interviews?
Answer:Synthesis is essential because it involves clearly
communicating what the client should do based on your
findings, ensuring that your recommendations are actionable
and rooted in logical analysis.

5.Question
What are the consequences of failing to properly utilize
issue trees in case interviews?
Answer:Failing to use issue trees can result in weak problem
structuring, leading to illogical conclusions or missed critical
factors in the analysis.

6.Question
How can understanding the scientific method enhance
consulting problem-solving skills?
Answer:By employing the scientific method—hypothesis,
experiment, conclusion—consultants can systematically

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evaluate problems, back their recommendations with
evidence, and derive logical conclusions.

7.Question
What can candidates do to improve their synthesis
communication skills?
Answer:Focus on structuring your conclusions in an
action-oriented way, starting with clear recommendations
and supporting them with relevant facts, rather than just
recapping the entire analysis.

8.Question
Why is it important to adapt your issue tree or
framework to the specific problem at hand?
Answer:Using a generic or convenient framework may lead
to illogical conclusions; adapting them ensures that all
conditions are relevant and supports the specific hypothesis
effectively.

9.Question
What does 'drill-down analysis' involve, and why is it
important?
Answer:Drill-down analysis involves systematically

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examining each branch of your issue tree to validate or
invalidate your hypotheses, ensuring that your conclusions
are based on substantiated evidence.

10.Question
How do the four core problem-solving tools contribute to
success in case interviews?
Answer:These tools provide a structured approach to analyze
complex problems, formulate hypotheses, organize findings,
and communicate actionable insights effectively, making
candidates more competitive.
Chapter 8 | THE HYPOTHESIS| Q&A
1.Question
What is the role of a hypothesis in problem-solving
during a case interview?
Answer:The hypothesis is fundamental in guiding
the analysis within a limited timeframe, helping to
quickly identify what is not true, which focuses the
problem-solving process and enhances efficient
decision-making.

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2.Question
Why might some interviewees find it counterintuitive to
state a hypothesis at the start?
Answer:Many believe that one should gather data first before
making conclusions—this belief stems from a conventional
understanding of analysis where data collection precedes
drawing insights.

3.Question
How can stating a hypothesis early benefit the case
interview process?
Answer:Stating a hypothesis early allows for quicker
elimination of incorrect assumptions, streamlining the
analysis and accelerating the path to a solution, which is
essential given the time constraints of case interviews.

4.Question
What is the 'Five-Minute Hypothesis Rule' and its
significance?
Answer:The Five-Minute Hypothesis Rule suggests stating
your hypothesis within the first five minutes of a
30-to-40-minute interview. This prevents candidates from

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forgetting to state their hypothesis due to becoming
engrossed in asking questions.

5.Question
What should candidates do if they choose to delay stating
their hypothesis?
Answer:If candidates intend to delay, they should
communicate this intention to the interviewer, indicating they
need to ask clarifying questions before revealing their
hypothesis. This approach maintains clarity and shows
respect for the interview process.

6.Question
What are the potential consequences of failing to state a
hypothesis within the time limit?
Answer:Failing to state a hypothesis by the fifth minute can
lead to a significant risk of neglecting this critical part of the
interview, which may result in lower performance or outright
rejection from the interview.

7.Question
How does the approach to stating a hypothesis vary
among interviewers?

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Answer:Interviewers are divided on the timing of stating a
hypothesis; some prefer it stated immediately, while others
suggest a brief period for background questions before
formulating the hypothesis.

8.Question
What are the implications of forgetting to state a
hypothesis during the interview?
Answer:Forgetting to state a hypothesis can suggest a lack of
direction and confidence in the candidate’s problem-solving
ability and can severely impact the interviewer's perception
of the candidate's performance.
Chapter 9 | THE ISSUE TREE| Q&A
1.Question
What is problem structuring and why is it important in
case interviews?
Answer:Problem structuring is the process of
breaking down a client’s problem into manageable
parts to logically test hypotheses. It is crucial in case
interviews because interviewers look for candidates

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who can navigate complex issues clearly and
systematically, demonstrating strong analytical
skills.

2.Question
How does an issue tree function in problem structuring?
Answer:An issue tree functions as a logical framework that
outlines key factors to test a hypothesis. It visually maps out
the relationship between different components of a problem,
resembling a tree. This structure allows candidates to analyze
each part specifically and assess whether the main hypothesis
is supported by data.

3.Question
What does the MECE principle entail and why is it vital?
Answer:The MECE principle stands for 'mutually exclusive,
collectively exhaustive' and ensures that information is
categorized in a way that avoids overlap and covers all
possibilities. It is vital because it enhances clarity and
thoroughness in problem-solving, enabling well-rounded
analysis without redundancy.

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4.Question
Explain the Victor Cheng 'Conclusiveness' test.
Answer:The Victor Cheng 'Conclusiveness' test assesses
whether an issue tree's branches conclusively support the
hypothesis. It checks if, under all positive conditions outlined
in the branches, the opposite outcome of the hypothesis
cannot logically occur. This encourages completeness and
relevance in the analysis.

5.Question
Why is it a mistake to become a 'framework robot'?
Answer:Becoming a 'framework robot' means blindly
following memorized frameworks without adapting them to
the specific case at hand. This leads to ineffective
problem-solving, as it prevents critical thinking and the
customization necessary to address unique challenges faced
in each interview.

6.Question
What key question should candidates ask themselves
when approaching a case study?
Answer:Candidates should always ask, 'What is my

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hypothesis?' as it guides the structure of analysis and informs
whether a standard framework or a customized issue tree
should be utilized.

7.Question
How should candidates communicate their issue tree to
interviewers?
Answer:Candidates must outline all branches of their issue
tree at the beginning of their analysis to provide interviewers
with a clear view of their problem-solving structure. This
overview helps interviewers assess the logical approach
being taken before specific analysis begins.

8.Question
Can you elaborate on the significance of
hypothesis-driven approaches in case interviews?
Answer:Hypothesis-driven approaches are significant
because they shift focus from memorizing frameworks to
understanding the underlying logic of the problem. This
approach enhances adaptability, allowing candidates to tailor
their analysis to fit the specific nuances of the case rather

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than forcing it into a predefined structure.

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Chapter 10 | DRILL-DOWN ANALYSIS| Q&A
1.Question
What is the importance of the process-of-elimination
approach in analysis?
Answer:The process-of-elimination approach is
crucial as it allows you to systematically determine
whether each component of your hypothesis holds
true. By disproving certain elements, you can refine
your understanding and adjust your hypothesis,
leading to more accurate conclusions.

2.Question
How should one express doubts or contradictions during
an analysis?
Answer:It is important to vocalize your thoughts aloud, such
as saying, 'Hmmm, if half the market is growing and the
other half is shrinking, this data casts some doubt as to
whether my initial hypothesis is correct.' This shows the
interviewer your analytical thinking and recognition of any
logical conflicts.

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3.Question
What role does continuous revision of the hypothesis play
in the process?
Answer:Regularly revising the hypothesis based on new data
ensures that your analysis remains relevant and accurate.
Iterating your hypothesis helps to align it more closely with
the facts gathered, enhancing the logical structure of your
argument.

4.Question
Why is it essential to analyze both branches of an issue
tree?
Answer:Analyzing both branches of an issue tree is vital
because it ensures a comprehensive evaluation of all
potential factors affecting your hypothesis. Understanding all
sides allows for a more nuanced conclusion and prevents
oversimplification.

5.Question
What are the consequences of proposing solutions too
early in the analysis process?
Answer:Proposing solutions before fully isolating and

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defining the problem can lead to incorrect conclusions and
misguided strategies. It demonstrates a lack of thorough
understanding and can negatively impact the
decision-making process.

6.Question
How should one take notes during a case interview?
Answer:Take notes in a structured manner, using diagrams
for your issue trees and hypotheses to keep the analysis
organized. Use a separate sheet for calculations to ensure that
your understanding of the case remains clear and focused.

7.Question
What is the value of combining quantitative and
qualitative analyses?
Answer:Using both quantitative and qualitative analyses
provides a more balanced approach to problem-solving. It
allows you to verify assumptions with numerical data while
exploring the 'why' and 'how' behind the numbers, leading to
well-rounded insights.

8.Question
How can one determine when to stop analyzing a branch

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of the issue tree?
Answer:You should stop analyzing a branch when you have
obtained enough relevant data to test the hypothesis. Apply
the 80/20 rule to focus on gaining minimally necessary data
that leads to a logical conclusion.

9.Question
Why is it beneficial to involve clients or interviewers in
the process-of-elimination?
Answer:Involving clients or interviewers in the analysis
fosters buy-in and support for the conclusions reached. By
showing them how and why certain branches are eliminated,
they are more likely to accept the final conclusions.

10.Question
What does a systematic process-of-elimination convey to
interviewers?
Answer:A systematic process-of-elimination demonstrates
strong analytical skills, a methodical approach to
problem-solving, and effective communication. It assures
interviewers that you are capable of logical reasoning and

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can lead clients to defendable conclusions.
Chapter 11 | SYNTHESIS| Q&A
1.Question
What is synthesis in the context of a case interview?
Answer:Synthesis is a communication technique
used to summarize the progress made during a case
interview, focusing on the essential insights and
structuring them clearly to convey action-oriented
recommendations effectively.

2.Question
Why is the top-down communication structure preferred
over bottom-up summaries in interviews?
Answer:The top-down communication structure is preferred
because it delivers the main conclusion upfront, followed by
concise supporting points, making the message clearer and
saving time for busy senior executives.

3.Question
How can one improve their synthesis skills during case
interviews?
Answer:Candidates can improve their synthesis skills by

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practicing audio-recording their synthesis, analyzing their
performance, and refining their approach based on feedback
until they master effective communication.

4.Question
What are the key components of a strong synthesis?
Answer:A strong synthesis includes an action-oriented
conclusion, followed by up to three clear supporting points
that substantiate the conclusion, and culminates in a
restatement of the recommendation.

5.Question
How can synthesizing throughout the case make a
candidate stand out?
Answer:By synthesizing throughout the case, candidates
demonstrate their ability to articulate key insights, show
clarity in their thought process, and maintain a structured
approach that is valued by interviewers.

6.Question
Why is it important for consultants to master synthesis
communication?
Answer:Mastery of synthesis communication is crucial for

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consultants because it directly affects their effectiveness in
presenting ideas to clients, who often have limited time,
thereby impacting business decisions and client relationships.

7.Question
Can you give an example of a poor synthesis attempt?
Answer:In a poor synthesis attempt, a candidate may present
too many supporting points that don't directly link to the
conclusion, leaving the interviewer confused about the main
recommendation and its rationale.

8.Question
What should candidates do if they feel short on time
during a case interview?
Answer:If candidates feel short on time, they should use a
structured synthesis that summarizes key findings and
suggests what additional analysis could be performed if more
time were available, ensuring clarity and focus.

9.Question
What role does synthesis play during the entire case
interview process?
Answer:Synthesis serves as a guiding tool throughout the

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case interview process, allowing candidates to articulate their
findings as they progress through the analysis and transition
between different aspects of the case.

10.Question
How can synthesizing at different points help the
interviewer understand your reasoning?
Answer:By providing periodic syntheses during the case,
candidates help the interviewer track their line of reasoning,
clarify misunderstandings, and highlight the logical flow of
their analysis and conclusions.
Chapter 12 | CORE FRAMEWORKS| Q&A
1.Question
What is the primary purpose of using frameworks in case
interviews?
Answer:The primary purpose of using frameworks
in case interviews is to provide a structured way to
analyze common business problems and test
hypotheses effectively.

2.Question
Why is personalizing frameworks mentioned as crucial

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for candidates?
Answer:Personalizing frameworks is crucial because it
allows candidates to adapt generic structures to specific
cases, enhancing their analytical thinking and making their
responses more relevant and effective.

3.Question
How do frameworks assist in case interviews according to
Victor Cheng?
Answer:Frameworks assist by enabling candidates to isolate
key issues, develop a structured approach to tackle complex
problems, and ensure they consider both quantitative and
qualitative aspects of a case.

4.Question
What is a common mistake candidates make regarding
the use of frameworks?
Answer:A common mistake candidates make is relying too
heavily on memorizing entire frameworks rather than
focusing on applying relevant portions to the specific case at
hand.

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5.Question
What are the three core frameworks outlined in the
chapter?
Answer:The three core frameworks outlined are:
Profitability, Business Situation, and Mergers and
Acquisitions.

6.Question
What is emphasized as the ultimate goal in a case
interview, instead of merely using frameworks?
Answer:The ultimate goal in a case interview is to test the
hypothesis and arrive at actionable insights rather than
merely recalling and utilizing frameworks.

7.Question
Why does Victor Cheng recommend not memorizing too
many frameworks?
Answer:Victor Cheng recommends not memorizing too
many frameworks because it can lead to insufficient mastery,
diminishing returns, and a lack of proficiency in applying the
most relevant frameworks effectively.

8.Question

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How do the Profitability and Business Situation
frameworks differ in their application?
Answer:The Profitability framework focuses on quantitative
causes of profit changes, analyzing numerical factors, while
the Business Situation framework provides a qualitative
understanding of the market and business environment.

9.Question
How can combining frameworks enhance analysis in case
interviews?
Answer:Combining frameworks, such as integrating the
Mergers and Acquisitions framework with the Profitability
framework, allows candidates to measure both qualitative
insights and quantitative impacts, leading to a more
comprehensive analysis.

10.Question
What should candidates focus on instead of using the
entire framework in every case scenario?
Answer:Candidates should focus on using only the relevant
portions of a framework that apply to the specific case

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situation, along with actively testing their hypotheses.

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Chapter 13 | PROFITABILITY FRAMEWORK|
Q&A
1.Question
What is the main purpose of the Profitability
Framework?
Answer:The Profitability Framework helps you
deconstruct a company’s financial profits into
component parts to identify whether a profit
problem is driven by revenues or costs.

2.Question
How should candidates identify whether a profit issue is
revenue- or cost-driven?
Answer:Candidates should analyze revenues in terms of units
sold and revenue per unit. The formula to remember is:
Revenues = unit price x number of units sold. If both
components are declining, it indicates a complex issue
requiring deeper investigation.

3.Question
Why is it crucial to segment and isolate components of
profit?

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Answer:Segmenting and isolating components allows you to
focus on specific areas causing profit declines, enabling a
systematic approach to understanding and addressing the root
causes of the profit problem.

4.Question
What should candidates say when they want to segment a
metric like units sold?
Answer:Candidates should express their intention by saying,
'I’d like to segment units sold into its component parts. Do
we have any information on these components?' This opens
the door for the interviewer to provide relevant data.

5.Question
What is the significance of distinguishing fixed versus
variable costs?
Answer:Understanding fixed versus variable costs is
essential, as they have different implications for profitability.
High fixed costs imply that increasing sales can improve
profitability, while high variable costs may indicate that
increasing sales will worsen losses.

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6.Question
How can comparing metrics help in evaluating a
company’s performance?
Answer:Comparing metrics to previous periods or industry
standards helps provide context and understanding. For
example, a per-unit variable cost of $5,000 might seem high
or low depending on historical data or competitor
performance, guiding problem analysis.

7.Question
What is the recommended approach for tackling
unexpected complications in a case?
Answer:Flexibility in thinking is key. When complexities
arise, candidates should adapt their segmentation approach
based on the information provided by the interviewer,
ensuring they focus on isolating the primary drivers of
profitability issues.

8.Question
Why should candidates be cautious about making
assumptions regarding segmentation?
Answer:Candidates should avoid making assumptions

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because the interviewer may have a preferred or unexpected
way of segmenting data. They should express a desire to
segment while keeping the conversation open for direction
from the interviewer.

9.Question
What should candidates do once they identify a profit
issue?
Answer:Candidates should either refine their hypothesis into
a more tailored analysis or shift to qualitatively understand
the reasons behind the identified issues using a different
framework.

10.Question
What lesson should candidates take from the exploration
of costs in profitability frameworks?
Answer:Candidates should recognize that costs can be
manipulated and categorized in many ways, emphasizing the
need for flexibility and an open-minded approach to analyze
and address profitability challenges effectively.
Chapter 14 | BUSINESS SITUATION
FRAMEWORK| Q&A

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1.Question
What are the four key components of the Business
Situation framework?
Answer:Customer, Product, Company, Competition.

2.Question
How does the Business Situation framework assist in
developing insights?
Answer:It helps you uncover qualitative issues by guiding
you through critical questions about the customer, product,
company, and competition to refine your hypothesis.

3.Question
Why is it crucial to let your hypothesis guide the
questions asked during an analysis?
Answer:It ensures that you focus on relevant information that
will effectively test your hypothesis, leading to more accurate
insights and conclusions.

4.Question
What is the 'Walmart effect' in customer concentration
analysis?
Answer:It refers to a situation where one dominant customer

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(like Walmart) has significant bargaining power over many
suppliers, impacting their sales conditions.

5.Question
What types of questions would you ask to analyze
customer segments effectively?
Answer:Questions include: Who is the customer? What are
their needs? What is their price sensitivity? What distribution
channels do they prefer? Understanding these aspects can
drive strategic decisions.

6.Question
How can understanding the nature of a product influence
business strategies?
Answer:It helps identify whether the product is a must-have
versus a nice-to-have, informs pricing strategies, and
determines whether to focus on differentiation or
cost-efficiency.

7.Question
In what scenarios might you utilize the Product Analysis
section of the framework?
Answer:When assessing market entry or new product

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introductions, as a thorough understanding of product
features and benefits is critical for strategic planning.

8.Question
How can the analysis of competitors help refine a
company’s strategy?
Answer:By identifying competitors' strengths, weaknesses,
and strategic choices, you can decide whether to compete
directly or leverage gaps in the competition.

9.Question
What practical advice does the author provide regarding
the use of the Business Situation framework?
Answer:Focus on the most relevant questions, listen actively
for key insights to refine your hypothesis, and remember that
completing the framework is less important than effectively
testing your ideas.

10.Question
Why is understanding regulatory environments
important in competitive analysis?
Answer:Changes in regulations can reshape market
dynamics, restricting or enabling opportunities that could

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significantly affect strategic decisions in industries.
Chapter 15 | MERGERS AND ACQUISITIONS
FRAMEWORK| Q&A
1.Question
What is the purpose of the M&A framework?
Answer:The M&A framework is designed to help
determine the conceptual reasons for acquiring
another company by analyzing key components such
as customers, products, the company itself, and
competition for both the acquiring and the target
companies.

2.Question
How does the M&A framework differ from traditional
financial analysis?
Answer:Unlike traditional financial analyses that focus on
return on investment or quantifiable changes in production
capacity, the M&A framework provides qualitative insights
to understand the strategic or cost-saving advantages of a
potential merger or acquisition.

3.Question

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What are the two primary types of M&A deals?
Answer:The two main types of M&A deals are 'strategic
value' deals, where the combination of companies creates
additional value, and 'cost savings' deals, which focus on
eliminating costs by merging operations.

4.Question
Can you provide an example of a strategic value deal?
Answer:A classic example of a strategic value deal is when a
large company (Company A) with an extensive sales force
acquires a smaller company (Company B) with an innovative
product but limited distribution. The merger allows Company
A to leverage its distribution network to successfully market
Company B's product.

5.Question
What is the key difference in benefits between strategic
value deals and cost savings deals?
Answer:Strategic value deals offer long-term benefits due to
synergies between the companies, while cost savings deals
typically provide immediate and one-time benefits that do

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not grow over time, although cost savings may persist.

6.Question
Why is it important to analyze both companies separately
before merging them in an analysis?
Answer:Analyzing each company independently allows for a
thorough understanding of their unique strengths,
weaknesses, and potential contributions to the merged entity,
which helps in identifying the overall strategic fit and
potential synergies.

7.Question
What should you do after completing the qualitative
analysis in an M&A case?
Answer:After completing the qualitative analysis, you should
refine your hypothesis based on the insights gained and then
move on to quantitatively assess the potential benefits of the
merger or acquisition.

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Chapter 16 | FRAMEWORKS IN ACTION| Q&A
1.Question
What strategies can a consultant use to explore a client’s
growth opportunities effectively?
Answer:A consultant should use flexible
frameworks and issue trees, starting with a broad
hypothesis and narrowing it down based on data
and analysis. For example, in the case of Omega &
Omega, the candidate began with a profitability
framework but quickly adjusted to focus on sales
and customer behavior to determine what the
industry is doing differently.

2.Question
Why is it important to differentiate between sales growth
and profit growth when advising a client?
Answer:Understanding the client’s specific goals is crucial
because strategies for growing sales can differ significantly
from those aimed at increasing profits. Misunderstanding
these goals can lead to ineffective recommendations.

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3.Question
How can comparisons help in analyzing a client’s
performance?
Answer:Comparing the client’s performance with industry
benchmarks and historical data can help identify whether a
performance issue is unique to the company or part of a
broader industry trend, guiding the consultant toward
relevant solutions.

4.Question
What can be learned from competitor analysis in a
stagnant market?
Answer:Analyzing competitors, particularly in growth
segments, can reveal market shifts and customer preferences
that the client may be missing. For Omega & Omega,
discovering that digital advertising was growing while they
were stagnant led to the recommendation to pivot toward
digital marketing strategies.

5.Question
What is a practical approach for understanding customer
needs?

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Answer:When investigating customer needs, it is essential to
gather detailed information about segment-specific demands,
preferences, and spending habits. This data can help tailor
agency services to meet evolving customer expectations
effectively.

6.Question
How should a company respond to a structural shift in
market demand?
Answer:A company must reposition itself in the market by
developing new capabilities or exploring acquisitions that
enhance its competitiveness in growing segments. Omega &
Omega, for instance, was advised to consider acquiring a
digital marketing firm to align with industry shifts.

7.Question
What are essential criteria to consider when evaluating
acquisition targets?
Answer:Evaluation should focus on targets that offer the
required capabilities in a growing market, have a strong
customer reach, and can provide immediate value without

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undermining the acquirer's existing operations.

8.Question
How should a candidate demonstrate their thought
process during a case interview?
Answer:Candidates should articulate their hypotheses
clearly, explain the rationale behind their framework choices,
and maintain a structured approach to problem-solving
throughout the interview.

9.Question
What role does a hypothesis play in a case interview?
Answer:A hypothesis serves as a guiding framework that
drives the direction of the case, allowing the candidate to
focus on gathering relevant data and making targeted
analyses.

10.Question
What key factors indicate that a company is failing to
meet industry demand?
Answer:Indicators include a significant reliance on declining
product segments, missing growth trends evident among
competitors, and failure to adapt to changing customer

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preferences in marketing strategies.

11.Question
Why is flexibility in problem-solving important during
case interviews?
Answer:Flexibility allows candidates to adapt their strategies
based on emerging data and insights. It shows analytical
thinking and the ability to pivot toward more effective
solutions as new information unfolds.
Chapter 17 | HOW TO OPEN A CANDIDATE-LED
CASE| Q&A
1.Question
What is a candidate-led case interview, and why is it
considered beneficial for evaluating consulting
candidates?
Answer:A candidate-led case interview is a format
where the candidate drives the conversation and
analysis, deciding the direction of the case based on
the information provided by the interviewer. This
format is beneficial because it mirrors the
real-world situations that consultants face with

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clients, who often present vague or ambiguous
problems. It tests the candidate's ability to structure
problems, think critically, and manage limited
information, which are essential skills in consulting.

2.Question
How should a candidate start a case interview effectively?
Answer:To start effectively, a candidate should first stall to
gather their thoughts, then clarify their understanding of the
question, stall again to organize their thoughts, state an initial
hypothesis (even if arbitrary), and finally communicate a
logical structure for analysis. The initial pause not only
allows for reflection but also provides time to mentally
connect the case details to prior knowledge or experiences.

3.Question
Why is stalling an important technique during a case
interview?
Answer:Stalling is important because it gives candidates
extra time to think and alleviate initial panic. Instead of
rushing to an answer, taking a moment to process the

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question allows candidates to recall relevant frameworks or
past experiences that could aid in structuring the case
effectively.

4.Question
What role do clarifying questions play in a case interview,
and how should they be used?
Answer:Clarifying questions are crucial for ensuring the
candidate fully understands the client's situation and the
specific problem they need to address. Candidates should use
clarifying questions to clarify terminology, confirm their
understanding of the issues at hand, and gather necessary
background information before diving into analysis.

5.Question
Why should candidates state a hypothesis early in the
case, and what are the benefits of doing so?
Answer:Stating a hypothesis early forces candidates to
organize their thoughts and analysis from the beginning.
Even if the hypothesis is arbitrary, it creates a framework for
the candidate to test as they gather more data. This approach

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also helps in keeping the candidate focused and encourages
them to think critically about whether their initial
assumptions hold true as new information is introduced.

6.Question
How should candidates structure their case analysis, and
why is this step significant?
Answer:Candidates should structure their case analysis by
drawing a framework or issue tree that directly relates to their
hypothesis. This structure is significant because it guides
their investigation and analysis process, ensuring they cover
essential areas that may impact the client's situation.
Additionally, clearly communicating the structure to the
interviewer mimics a consultant's approach with clients,
facilitating better understanding and engagement.

7.Question
What is the importance of involving clients in the
problem-solving process during a consulting engagement?
Answer:Involving clients in the problem-solving process is
important because it fosters buy-in and increases the

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likelihood that clients will accept the recommendations made
by consultants. When clients feel they are part of the analysis
and solution development, they are more likely to support
and implement the final recommendations.
Chapter 18 | HOW TO ANALYZE A
CANDIDATE-LED CASE| Q&A
1.Question
Why is it important to correctly frame a case before
analyzing it?
Answer:Framing a case correctly allows for a
structured analysis, making it easier to identify and
disaggregate the key issues involved. This is akin to
laying down a clear blueprint before starting a
construction project—without it, the analysis may
lead to misleading conclusions.

2.Question
How does segmenting a problem change our
understanding of average figures?
Answer:Segmenting allows us to see the underlying
components behind averages, which may hide critical

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information. For example, looking at a neighborhood where
one person wins a lottery shows that the average wealth is
skewed by a single individual, highlighting that most
residents are not wealthy.

3.Question
What does the author mean when they say "totals and
averages always lie"?
Answer:Totals and averages can be misleading because they
often obscure the details of the underlying data. It's essential
to break these numbers down to understand the true
underlying factors affecting a situation or outcome.

4.Question
How can qualitative data be effectively transformed for
analysis?
Answer:By rephrasing qualitative branches as
sub-hypotheses, you can frame your analysis in a way that
focuses on validation, making the structure more actionable
and targeted.

5.Question
What are some key steps to take when you reach a logical

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dead end in analysis?
Answer:When reaching a dead end, it’s vital to revise your
hypothesis based on the new data, switch to analyzing a
different branch of your framework, and use a process of
elimination to narrow down other potential issues.

6.Question
What is the importance of comparing numbers to
historical or competitive data?
Answer:Comparing current data to historical or competitive
figures helps establish context and meaning, revealing
whether a change is specific to a company or part of a
broader industry trend.

7.Question
How can a candidate show their issue tree to the
interviewer during analysis?
Answer:By sharing the diagram of the issue tree and
denoting dead ends with an 'X', candidates can provide visual
clarity on their thought process and the logic behind their
analysis.

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8.Question
What does MECE stand for and why is it important in
structuring analysis?
Answer:MECE stands for 'Mutually Exclusive, Collectively
Exhaustive.' This principle is crucial because it ensures that
the analysis is comprehensive and that every consideration is
considered without overlap.

9.Question
How should a consultant react when their hypothesis is
disproven by new data?
Answer:Consultants should approach disproven hypotheses
objectively, embracing the need to revise their thinking
without emotional attachment, recognizing that adjustments
based on evidence are part of effective problem-solving.

10.Question
Can you give an example of how to break down the
concept of an ideal spouse into actionable components?
Answer:To analyze the attributes of an ideal spouse, one
might break it down into categories such as emotional
benefits (support during tough times), social benefits

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(expanding social networks), physical benefits
(attractiveness), and financial benefits (career stability),
allowing for a structured discussion about relationship
priorities.

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Chapter 19 | HOW TO CLOSE A
CANDIDATE-LED CASE| Q&A
1.Question
What is the main concept behind synthesizing a case in a
consulting interview?
Answer:Synthesis involves putting together the
analyzed components to present a clear and
structured conclusion. It is about reassembling the
pieces, much like constructing a Lego house, and
conveying the big picture first before diving into
supporting details.

2.Question
How should a case be properly closed during an
interview?
Answer:The case should be closed by stating the conclusion
first, followed by three relevant data points that support it,
and restating the conclusion decisively. This structure
distinguishes a stellar candidate from a typical one.

3.Question
Can you illustrate the difference between poor, good, and

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great synthesis with a real-life example?
Answer:A poor synthesis might involve a child overloading
the parent with chaotic, unfocused details about a mishap,
leaving them confused. A good synthesis pins down the
crucial fact—like stating there’s a fire and urgency. In
contrast, a great synthesis systematically presents a clear
action-oriented conclusion, backed by quantitative evidence,
and methodically walks the listener through the reasoning
before reiterating the action, making it easy to understand
and compelling.

4.Question
What does the author suggest practicing in day-to-day
communication?
Answer:The author suggests using a structured approach in
everyday conversations by stating a conclusion first,
providing supporting points, and restating the conclusion.
This method enhances clarity and ensures a more persuasive
communication style.

5.Question

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Why is it important to master synthesis in consulting
interviews?
Answer:Mastering synthesis is crucial because while one can
reach the final interview rounds without it, securing a job
offer, particularly from top firms, necessitates exceptional
synthesis skills. Subtle differences can significantly impact
interview performance.

6.Question
What lesson can be drawn from the anecdote about the
candidate who received a B+ rating in a mock interview?
Answer:The anecdote highlights that small adjustments can
elevate one's performance from good to great. Awareness of
minor mistakes can lead to significant improvements in
synthesis, crucial for success in competitive consulting
interviews.

7.Question
How can one apply the principles of synthesis in their
personal life?
Answer:One can apply these principles by approaching

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decisions methodically, such as when choosing a place to eat,
by stating preferences succinctly, backing them up with
reasons, and concluding decisively, which fosters clarity in
personal discussions.
Chapter 20 | THE INTERVIEWER-LED CASE|
Q&A
1.Question
What are the primary skills required to succeed in an
interviewer-led case format?
Answer:In an interviewer-led case format, the key
skills required for success are the effective use of the
issue tree and synthesis. Candidates must be
proficient in structuring problems and efficiently
synthesizing information to present their
conclusions.

2.Question
How has McKinsey changed its interview process, and
what impact does this have on candidates?
Answer:McKinsey has shifted to using centrally
standardized, interviewer-led case formats, meaning

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candidates no longer need to integrate all four
problem-solving tools (hypothesis, issue tree, analysis,
synthesis) as the interviewer directs the case. This change
reduces ambiguity and alters the way candidates differentiate
themselves, focusing more on issue tree and synthesis.

3.Question
Why is it crucial for candidates to manage their time
efficiently during an interviewer-led case?
Answer:It is crucial because the modular nature of the case
format means that once a section is completed, it can't be
revisited. Candidates must be thorough and finish each phase
within five to ten minutes to effectively demonstrate their
problem-solving abilities.

4.Question
What should candidates aim to present during the
brainstorming phase of an interviewer-led case?
Answer:During the brainstorming phase, candidates should
aim to present their ideas in a structured way, categorizing
their brainstorming results, rather than providing a simple

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list. This demonstrates organization, clarity, and the ability to
think comprehensively about the client’s challenges.

5.Question
How should candidates approach the synthesis phase of
an interviewer-led case?
Answer:Candidates should ensure that their synthesis is not
just a summary but a structured conclusion outlining
supporting points, retelling the recommendation, and
identifying any unexplained issues. They should also express
what further analyses they would carry out given more time,
indicating a proactive consulting mindset.

6.Question
What is the significance of the phrase 'if only we had
more time' during the synthesis phase?
Answer:This phrase is significant as it demonstrates a
forward-thinking approach that suggests opportunities for
further work, making it appealing to interviewers by
indicating potential future revenue for consulting firms.

7.Question
In an interviewer-led case, how can candidates avoid

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costly mistakes during quantitative analysis?
Answer:Candidates can avoid mistakes by carefully
translating verbal questions into formulas and breaking down
math into systematic, smaller parts rather than jumping
directly to the solution. Writing out formulas and
calculations clearly allows for better accuracy and helps track
thought processes.

8.Question
Why is understanding the case interview's structured
phases critical for candidates?
Answer:Understanding the structured phases is critical
because it allows candidates to navigate the case effectively,
manage their responses within time limits, and align their
thought processes with the interviewer's expectations,
increasing their chances of success.

9.Question
How does the command-and-control style of the
interviewer-led case affect candidate performance?
Answer:The command-and-control style requires candidates

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to quickly adapt to an interviewer’s lead, which may feel
abrupt. Candidates must be prepared for shifts in focus and
remain agile in their thinking, which relies on their
proficiency in the outlined problem-solving techniques.

10.Question
What role does creativity play in the brainstorming phase
of an interviewer-led case?
Answer:Creativity plays a major role in the brainstorming
phase, as candidates are expected to think broadly and
generate innovative solutions for the client's problems.
However, structuring these ideas in a logical format can
showcase creativity alongside analytical skills.
Chapter 21 | THE WRITTEN CASE INTERVIEW|
Q&A
1.Question
What does it mean to have strong data interpretation
skills in a consulting context?
Answer:Strong data interpretation skills mean the
ability to sift through large quantities of data and
determine what is important, something that

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consulting firms highly value. This skill involves
mathematical reasoning, critical thinking, and the
ability to analyze complex information to draw
meaningful conclusions.

2.Question
Why do consulting firms rely on standardized test scores
and specific assessments like the McKinsey PST?
Answer:Consulting firms use standardized test scores to
gauge candidates' raw intellectual talent. They recognize that
traditional scores alone might not accurately predict skills in
data interpretation and numerical reasoning, which are
crucial for consulting roles. As a result, they have developed
specific assessments, like the McKinsey PST, to evaluate
these skills more effectively.

3.Question
How should candidates assess their own preparedness for
written case assessments?
Answer:Candidates should honestly evaluate their math,
logic, and data interpretation skills. If they excel in math,

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they should practice relevant questions to enhance their
abilities further. If they struggle with math, particularly if
indicated by standardized test scores, they must decide how
to invest their time effectively — focusing on either
improving data interpretation skills or practicing case
interviews, based on the hiring firm's assessment format.

4.Question
What is the difference between a written assessment and
a written case in a consulting interview?
Answer:In a written assessment, candidates respond to
specific, structured questions based on provided data
exhibits, similar to an exam format. In contrast, a written
case requires candidates to solve a problem collaboratively
with the interviewer, drawing from their analytical methods
rather than simply answering predefined questions.

5.Question
What can candidates do to prepare for written data
interpretation assessments?
Answer:Candidates can use GMAT and GRE practice test

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books to enhance their data interpretation skills. They should
consistently practice interpreting data from these sources and
also utilize online resources that provide sample questions
and practice exams tailored to consulting assessments.

6.Question
Why is it crucial for candidates to ask for clarification
during a written interview format?
Answer:Clarification is vital because it helps candidates
understand whether they are facing a structured assessment
or a more open-ended case. Knowing this allows candidates
to prepare their approach accordingly, ensuring they apply
the proper problem-solving techniques or critical reasoning
based on the interview's format.

7.Question
How does raw intellectual talent factor into a candidate's
success in consulting interviews?
Answer:Consulting firms prioritize raw intellectual talent
because they believe that while they can teach methodology,
they cannot teach intelligence. Strong candidates with high

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analytical capabilities are likely to adapt and thrive in
complex consulting scenarios, making this attribute a critical
focus during interviews.

8.Question
What should candidates focus on if they have low math
skills but still wish to succeed in consulting interviews?
Answer:Candidates with low math skills should prioritize
structured practice in data interpretation and mathematics to
gain a solid foundation. Furthermore, they should focus on
learning the methodology and common case-solving
techniques to balance their skills and improve their overall
performance during interviews.

9.Question
How can candidates differentiate between their
performance in data interpretation and case interview
preparation?
Answer:Candidates can measure their strengths through
practice tests and self-assessment. Those performing well in
practice should further develop their skills, while those
struggling should adjust their focus based on the firms they

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are interviewing with — often weighing the importance of
case practice against the necessity of improving data
interpretation.

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Chapter 22 | THE GROUP CASE INTERVIEW|
Q&A
1.Question
What is the primary purpose of the group case interview
format in consulting interviews?
Answer:The primary purpose of the group case
interview format is to assess candidates' teamwork,
communication, and client management skills while
they work collaboratively to solve a case, rather
than competing against each other.

2.Question
Why do new consultants typically fail in their roles?
Answer:New consultants often fail due to poor client
management skills or an inability to acknowledge their
errors. These shortcomings can hinder their effectiveness in
consulting roles where collaboration and flexibility are
crucial.

3.Question
How should a consultant handle a disagreement with a
client during a project?

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Answer:A consultant should diplomatically present a
different perspective without directly telling the client they
are wrong. They should guide the client towards discovering
the correct conclusion themselves to avoid embarrassment
and maintain a positive relationship.

4.Question
What mindset should candidates adopt when working in a
group case interview?
Answer:Candidates should view their fellow interviewees as
teammates working together to solve the case, rather than as
competitors. The focus should be on collaborating to find the
best solution to the problem presented.

5.Question
How can a candidate demonstrate good client
management skills during a group case interview?
Answer:A candidate can demonstrate good client
management skills by acknowledging others' contributions,
building on ideas collaboratively, and maintaining a
respectful, constructive dialogue, even when disagreements

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arise.

6.Question
What are the consequences of being argumentative in a
consulting team environment?
Answer:Being argumentative can lead to a breakdown of
teamwork, alienation from peers and superiors, and
ultimately a lack of staffing opportunities, as engagement
managers prefer team members who can accept feedback and
work collaboratively.

7.Question
What key takeaway does Victor Cheng emphasize about
the group case interview process?
Answer:Victor Cheng emphasizes that the goal is to solve the
case as a unified team, not to compete against other
candidates. Collaboration and respect for others' ideas are
vital to success in consulting.

8.Question
How does understanding the motivations behind the
group case format aid a candidate's performance?
Answer:Understanding that the group case format aims to

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uncover interpersonal skills and collaboration under pressure
helps candidates know they should prioritize teamwork,
diplomacy, and flexibility over proving themselves right.
Chapter 23 | THE PRESENTATION-ONLY CASE
INTERVIEW| Q&A
1.Question
What are the four tools used in a traditional
candidate-led case interview?
Answer:Hypothesis, issue tree, analysis, and
synthesis.

2.Question
How do presentation-only case interviews differ from
traditional case interviews?
Answer:In presentation-only case interviews, the focus is on
synthesizing findings into a presentation without the direct
guidance of an interviewer, emphasizing results over process.

3.Question
What structure should a synthesis-oriented slide
presentation follow?
Answer:It should follow the structure: Conclusion,

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Supporting point 1, Supporting point 2, Supporting point 3,
Restate conclusion.

4.Question
What is one practical tip for creating a presentation from
provided slides?
Answer:Focus on synthesizing your case and sorting slides
into groups based on supporting points.

5.Question
What is the key takeaway from constructing a good slide?
Answer:The title of each slide should convey the key
message rather than just stating facts; it should answer 'So
what?'

6.Question
How should you introduce your presentation to the
audience?
Answer:Start by stating your conclusion and explain the
structure you will use to prove it.

7.Question
Why is it advised not to read slides verbatim during a
presentation?

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Answer:Because it's a waste of time, as the audience can read
faster than you can speak; instead, focus on summarizing key
takeaways.

8.Question
What should each slide ideally contain?
Answer:A chart or data table, a chart label explaining the
data, and a title that conveys the key message.

9.Question
What is the importance of crafting a narrative with your
slide titles?
Answer:It allows the audience to follow a coherent story,
effectively communicating your main argument even without
viewing the exhibits.

10.Question
How should you handle the rhythm of communication
during your presentation?
Answer:Direct attention to the slide, answer 'so what?',
explain the supporting chart, and repeat these steps for
successive slides.

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Chapter 24 | HOW TO GET MULTIPLE JOB
OFFERS| Q&A
1.Question
What is the key difference between a case interview and a
traditional exam?
Answer:In a case interview, you are evaluated on
your habits in applying knowledge in a high-stress
environment rather than just your knowledge of the
material itself. This focuses on your ability to act
effectively under pressure rather than merely
recalling information.

2.Question
How many interview rounds can candidates expect in
consulting, and why?
Answer:Candidates can expect up to ten rounds of interviews
in consulting. This is because firms are assessing the
consistency of the candidate's performance across various
cases, ensuring that they can repeatedly apply their
knowledge effectively.

3.Question

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What crucial element leads to success in case interviews
and securing job offers?
Answer:Extensive practice is the crucial element that leads to
success in case interviews. Candidates who invest significant
time honing their skills and developing disciplined habits are
more likely to reap positive results.

4.Question
What is the recommended benchmark for practice hours
to improve your chances of getting a job offer?
Answer:The recommended benchmark is 50 to 100 hours of
case interview preparation, which can enhance your chances
of success tenfold.

5.Question
What are the four steps to mastering case interview
skills?
Answer:1. Build Knowledge: Understand the concepts and
expectations of case interviews.

2. Find Role Models: Observe and learn from successful case

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interviews.

3. Practice in a Live Setting: Simulate the interview process

with peers to improve performance under pressure.

4. Seek Assessment from a Mentor or Coach: Get feedback

from experienced consultants to identify and correct subtle
mistakes.

6.Question
Why is it important to find a role model during case
interview preparation?
Answer:Having a role model provides an experiential grasp
of how successful interviews unfold, allowing you to learn
the nuances of effective communication and analytical
problem-solving that can significantly improve your
performance.

7.Question
What is the impact of practicing with a live partner
versus practicing alone?

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Answer:Practicing with a live partner significantly enhances
your skills as it simulates the actual interview pressure. This
interaction helps you internalize lessons from experiencing
real-time feedback, leading to greater improvement
compared to solo practice.

8.Question
How can engaging with a mentor or coach improve your
chances in a competitive interview process?
Answer:A mentor or coach, particularly someone with prior
consulting experience, can provide valuable insights on
subtle mistakes that might go unnoticed by peers. This
targeted feedback is pivotal in refining your approach and
maximizing your chances of receiving an offer.

9.Question
What common mistake do candidates make regarding
preparation for their case interviews?
Answer:Many candidates do not prepare adequately for their
first interviews and only recognize the high performance
requirements after facing rejection. This highlights the

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necessity of treating preparation seriously from the start.

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Chapter 25 | HOW TO PROJECT CONFIDENCE|
Q&A
1.Question
Why do consulting firms value confidence so highly in
candidates?
Answer:Consulting firms value confidence because
clients seek reassurance and certainty in their
business decisions. When a client pays substantial
sums for consulting services, they expect consultants
to project confidence to mitigate their own
uncertainties about critical decisions.

2.Question
How does technical competence relate to confidence in a
case interview?
Answer:Technical competence is essential for confidence in
a case interview. Candidates must fully master the case
interview skills required, as confidence stems from knowing
the material thoroughly rather than from personality traits
such as being extroverted.

3.Question

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What are the three key sources of confidence in case
interviews?
Answer:The three sources of confidence are: 1) Extreme
Technical Competence; 2) Correct Mental Perceptions; 3)
Extensive Practice. Each source contributes to how
confidently a candidate can present themselves in an
interview.

4.Question
Why is the misperception of what’s at stake important for
interview candidates?
Answer:Candidates often become overly anxious thinking
their entire career hinges on one interview. This can lead to
poor performance due to stress. Understanding that one
interview is not the end of the world can help alleviate this
anxiety.

5.Question
What is the significance of viewing an interview as a
mutual assessment?
Answer:Viewing an interview as a two-way mutual

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assessment helps candidates project confidence. It allows
candidates to feel empowered, knowing they are also
evaluating whether the firm is a good fit for them, which
balances the power dynamic.

6.Question
How much preparation do successful candidates typically
invest for case interviews?
Answer:Successful candidates generally invest between 50 to
100 hours of dedicated practice for case interviews. This
extensive preparation is crucial for mastering the skills
needed to perform confidently under pressure.

7.Question
What insights can be drawn from the experiences of
successful candidates in terms of preparation?
Answer:Successful candidates across different backgrounds
demonstrate that hard work and extensive practice are key
contributors to success in securing offers from top consulting
firms. Intelligence alone is not enough without the
willingness to put in the effort.

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8.Question
Why is it detrimental to underestimate one’s own
capabilities during interviews?
Answer:Underestimating one’s abilities can lead to
unnecessary stress and a lack of confidence in performance.
It is important to remember that recruiters often highlight
their most impressive employees, not the average,

9.Question
How does caring too much or too little affect interview
performance?
Answer:An optimal level of care about the interview is
crucial; if candidates care too much, it leads to stress that can
impair performance. Conversely, if they care too little, they
may not engage genuinely or try hard enough. The sweet spot
is caring strongly but not excessively.

10.Question
What is 'availability bias' and how does it relate to
candidate confidence?
Answer:Availability bias refers to the tendency to assume
that because one sees impressive examples in recruiting

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materials, all candidates or employees must be similarly
impressive. This can lead to feelings of inadequacy and
diminished confidence among candidates.
Chapter 26 | THE TEN MOST COMMON
MISTAKES TO AVOID| Q&A
1.Question
What is the single most impactful mindset shift a
candidate should adopt when preparing for case
interviews?
Answer:Candidates should adopt the mindset of
using the scientific method in their approach to case
interviews. This involves clearly stating a hypothesis
at the beginning and ensuring that all questions and
analyses are directed toward proving or disproving
that hypothesis.

2.Question
How can candidates ensure their frameworks are
effective in case interviews?
Answer:Candidates should ensure that their frameworks are
flexible and adapted to directly test their hypothesis. They

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should use only the relevant parts of frameworks and avoid
including unnecessary elements.

3.Question
What should candidates do when they realize their initial
framework isn’t mutual exclusive enough?
Answer:Candidates should take a moment to re-evaluate their
framework structure and ensure that categories are mostly
mutually exclusive. They can ask if they are mixing topics
and subtopics or overlapping categories, and adjust
accordingly.

4.Question
Why is it important to quantify during the analysis
process?
Answer:Quantifying helps candidates identify the most
significant factors impacting the case. By calculating the
extent of issues, candidates can focus on the most impactful
areas rather than getting lost in minor details.

5.Question
What role does qualitative questioning play in case
interviews?

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Answer:Qualitative questioning is essential for
understanding the context behind numbers. Candidates need
to gather qualitative insights to develop a holistic picture of
the client's situation before delving into quantitative analysis.

6.Question
How critical is math accuracy in case interviews?
Answer:Math accuracy is paramount. A math mistake can
drastically affect a candidate's chance of success, especially
in top firms where a single error can lead to immediate
rejection.

7.Question
What should candidates remember about the flow of their
analysis during the interview?
Answer:Candidates should follow a linear and logical
progression in their analysis, avoiding the temptation to jump
around based on random thoughts. Sticking to the structure
helps maintain clarity and coherence.

8.Question
What indicates a candidate’s analysis approach might be
inefficient?

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Answer:If a candidate finds themselves delving into
irrelevant issues or running excessive analyses that do not
address the core hypothesis, it signals inefficiency.

9.Question
How should candidates conclude their case interviews?
Answer:Candidates should conclude with a strong,
action-oriented summary that directly answers the core
question or decision of the case, followed by supporting
details as necessary.

10.Question
What’s a key takeaway for candidates regarding practice
for case interviews?
Answer:Candidates should focus on identifying and
correcting one mistake at a time during practice sessions, as
eliminating all mistakes at once can be overwhelming.
Chapter 27 | ADVANCED CASE INTERVIEW
RESOURCES| Q&A
1.Question
What resources can I utilize to prepare for case
interviews effectively?

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Answer:You can access free updates and companion
materials from the book on my website, practice
math skills using a dedicated tool, read success
stories from others who landed jobs, listen to actual
case interviews through the Look Over My Shoulder
program, find a practice partner using the case
partner matching system, or even work one-on-one
with a case interview coach.

2.Question
Why is practice emphasized as important in preparing for
case interviews?
Answer:Practice is essential because it not only helps you
internalize the concepts but also builds your confidence and
competence. Candidates who invest significant time in
preparation tend to outperform those who don't, often
translating into more job offers.

3.Question
How can success stories help me in my interview
preparation?

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Answer:Success stories provide real insights into the
experiences of others who have gone through the process.
They can highlight what worked, what didn’t, and offer
strategies that you could adapt for your own case preparation.

4.Question
What is the benefit of recording case interviews and
reviewing them?
Answer:Recording case interviews, particularly with
commentary, allows you to gain an external perspective on
your performance. This kind of feedback can pinpoint your
strengths and weaknesses, enabling targeted improvement.

5.Question
How can I find a suitable practice partner for case
interviews?
Answer:You can utilize a case partner matching system that
connects you with other candidates based on factors like time
zone, preferred language, and the type of practice you need,
ensuring effective matching with someone at a similar skill
level.

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6.Question
What distinguishes working with a coach from practicing
with a partner?
Answer:Working with a coach provides you with a focused
and personalized learning experience where an expert
evaluates your skills and offers tailored feedback. This can
accelerate your preparation compared to practicing solely
with peers.

7.Question
How much time should I commit to case interview
preparation?
Answer:Investing 50 to 100 hours into preparation is ideal.
This level of dedication significantly increases your chances
of success compared to just a few hours of review.

8.Question
What are the three key activities to securing job offers in
management consulting?
Answer:The three activities are: following the proven process
outlined in the book, utilizing available practice resources,
and committing to hard work in your preparation.

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Case Interview Secrets Quiz and Test
Check the Correct Answer on Bookey Website

Chapter 1 | INTRODUCTION| Quiz and Test

1.The case interview format is used only for new
graduates entering consulting firms.
2.Victor Cheng's intense preparation for case interviews
resulted in multiple job offers, including one from
McKinsey.
3.The book 'Case Interview Secrets' is organized into five
parts that cover various aspects of case interviews.
Chapter 2 | THE SEVEN TYPES OF
EVALUATION TOOLS| Quiz and Test
1.Strategy consulting firms utilize three main types
of case interview formats: quantitative
assessments, hypothetical-situation case
interviews, and psychological evaluations.
2.The Quantitative Test format is designed to evaluate
candidates' math skills, data interpretation, and numerical
reasoning.

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3.In a Candidate-Led Case Interview format, the interviewer
actively guides the discussion and dictates which aspects of
the case should be explored.
Chapter 3 | MCKINSEY PROBLEM SOLVING
TEST| Quiz and Test
1.The McKinsey Problem Solving Test (PST) is
designed to emphasize business knowledge rather
than math and logic skills.
2.To prepare for the McKinsey PST, candidates should take
practice tests and focus on developing skills in solving
math word problems.
3.Candidates can access a wide variety of authentic practice
resources for the McKinsey PST online.

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Chapter 4 | ESTIMATION QUESTIONS| Quiz and
Test
1.Consulting firms utilize estimation questions
primarily to assess a candidate's ability to analyze
detailed financial reports.
2.Candidates should focus on doing precise arithmetic with
large numbers and rounding numbers intelligently to excel
in estimation questions.
3.Finding a relevant proxy number can simplify the
estimation process, while identifying flaws in the proxy is
unnecessary for accurate estimates.
Chapter 5 | WHY CASE INTERVIEWS EXIST|
Quiz and Test
1.Case interviews focus on skills that all consulting
firms value, regardless of the interview format.
2.Disliking case interviews indicates that a candidate may not
enjoy the work involved in consulting.
3.Clients typically respect consultants' insights immediately
without requiring the consultants to demonstrate
credibility.

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Chapter 6 | WHAT INTERVIEWERS LOOK FOR
AND WHY| Quiz and Test
1.Understanding the psychology behind
interviewers' actions is important in impressing
them during the interview.
2.Consultants should aim to be precisely accurate rather than
providing sufficient directional answers during their
recommendations.
3.Interviewers prioritize candidates who can follow a
structured problem-solving process over those who simply
arrive at the correct answer quickly.

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Chapter 7 | THE CORE PROBLEM-SOLVING
TOOLS| Quiz and Test
1.The four fundamental problem-solving tools used
by consultants and candidates in case interviews
are Hypothesis, Issue Tree/Framework,
Drill-Down Analysis, and Synthesis.
2.Drill-Down Analysis is a method that involves synthesizing
the data to validate the initial hypothesis without any
iteration.
3.In the synthesis step, it is important to start with supporting
facts before stating what the client should do.
Chapter 8 | THE HYPOTHESIS| Quiz and Test
1.Candidates should introduce their hypotheses
early in a case interview, preferably no later than
five minutes into the interview.
2.It is better for candidates to spend a great deal of time
analyzing every detail before stating their hypothesis in a
case interview.
3.In McKinsey interview formats, candidates must define

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 their hypothesis only after completing the entire case
analysis.
Chapter 9 | THE ISSUE TREE| Quiz and Test
1.Problem structuring in case interviews is similar
to designing an experiment to validate a
hypothesis.
2.An issue tree can be any visual representation without
needing to pass any tests for validity.
3.Candidates should prioritize memorizing frameworks over
developing their own issue trees for effective problem
solving.

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Chapter 10 | DRILL-DOWN ANALYSIS| Quiz and
Test
1.An issue tree is a framework made of components
that collectively support or challenge a hypothesis.
True or False?
2.Candidates should avoid prematurely concluding an
analysis and should analyze each branch sufficiently. True
or False?
3.Visual note-taking can complicate the analysis process by
creating lengthy text notes. True or False?
Chapter 11 | SYNTHESIS| Quiz and Test
1.Synthesis in case interviews is primarily concerned
with providing detailed summaries of all findings
and insights.
2.Effective synthesis in a case interview should include a
clear recommendation, up to three supporting points, and a
restatement of the recommendation.
3.Synthesis should only be done at the end of the case
interview and is not necessary during various stages of the

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 discussion.
Chapter 12 | CORE FRAMEWORKS| Quiz and
Test
1.Frameworks are only memorization tools and do
not aid in hypothesis testing.
2.Mastering profitability and business situation frameworks
prepares candidates for over 98% of case scenarios.
3.Memorizing numerous frameworks enhances
understanding and prepares candidates better for case
interviews.

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Chapter 13 | PROFITABILITY FRAMEWORK|
Quiz and Test
1.The foundational formula for profits is Profits =
revenues + costs.
2.Understanding fixed and variable costs is essential for
profitability analysis.
3.In profitability analysis, always compare metrics against
historical data or industry standards for context.
Chapter 14 | BUSINESS SITUATION
FRAMEWORK| Quiz and Test
1.The Business Situation Framework consists of five
main components: Customer, Product, Company,
Competition, and Operations.
2.Customer analysis includes understanding customer
segment needs and price sensitivity.
3.When analyzing competition, it is important to assess
supplier concentration and regulatory environment.
Chapter 15 | MERGERS AND ACQUISITIONS
FRAMEWORK| Quiz and Test
1.The M&A framework focuses primarily on

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 financial return calculations and industry capacity
changes.
2.Analyzing the components of customers, products,
company, and competition is essential in the M&A
framework.
3.Cost savings deals provide long-term benefits and ongoing
value after initial savings.

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Chapter 16 | FRAMEWORKS IN ACTION| Quiz
and Test
1.Frameworks and issue trees should always be used
rigidly in case interviews.
2.The candidate identified a significant skills mismatch in
Omega & Omega regarding digital advertising.
3.The primary issue for Omega & Omega was determined to
be related to industry-wide problems rather than specific
company challenges.
Chapter 17 | HOW TO OPEN A CANDIDATE-LED
CASE| Quiz and Test
1.The candidate-led case interview format allows
candidates to steer the direction of the case.
2.In a candidate-led case, candidates should avoid asking
questions to keep the flow of the case smooth.
3.Presenting an initial hypothesis is discouraged in a
candidate-led case interview as it may lead to confusion.
Chapter 18 | HOW TO ANALYZE A
CANDIDATE-LED CASE| Quiz and Test
1.Framing a case correctly is essential for effective

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 analysis.
2.Averages and totals always provide a clear representation
of the underlying situation.
3.It is okay to stick to disproved hypotheses during the
analysis process.

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Chapter 19 | HOW TO CLOSE A
CANDIDATE-LED CASE| Quiz and Test
1.Closing a case is more about analysis than
synthesis.
2.A conclusion-first approach improves clarity when closing
a case.
3.Good synthesis presents a disorganized collection of
information without a clear conclusion.
Chapter 20 | THE INTERVIEWER-LED CASE|
Quiz and Test
1.The Interviewer-Led Case is exclusively used by
McKinsey consulting firm.
2.Candidates in an Interviewer-Led Case can revisit missed
points at any phase of the interview.
3.There are five distinct phases in the Interviewer-Led Case
format, which require meticulous time management.
Chapter 21 | THE WRITTEN CASE INTERVIEW|
Quiz and Test
1.In traditional candidate-led case interviews,
candidates receive only the data they specifically

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 request, allowing them to operate with a
pre-formed hypothesis.
2.Consulting firms utilize standardized test scores like SAT,
GMAT, or GRE to fully assess candidates' data
interpretation skills.
3.Preparing for written cases can be straightforward as data
interpretation is a skill that is consistent across all
individuals.

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Chapter 22 | THE GROUP CASE INTERVIEW|
Quiz and Test
1.The group case interview format emphasizes
competition among candidates.
2.New consultants often fail due to strong client management
skills and an unwillingness to correct their mistakes.
3.Participants in a group case interview should consider
fellow candidates as teammates rather than adversaries.
Chapter 23 | THE PRESENTATION-ONLY CASE
INTERVIEW| Quiz and Test
1.In a presentation-only format case interview,
candidates focus more on the process than the
results.
2.A well-structured presentation should always start with the
main conclusion.
3.Each slide in an effective presentation should utilize the
chart label as the main title to convey the message clearly.
Chapter 24 | HOW TO GET MULTIPLE JOB
OFFERS| Quiz and Test
1.Case interviews measure theoretical knowledge

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 rather than real-world application.
2.Candidates who invest between 50 to 100 hours in
preparation significantly increase their success rates in case
interviews.
3.Consulting firms typically conduct only one or two
interview rounds during their hiring process.

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Chapter 25 | HOW TO PROJECT CONFIDENCE|
Quiz and Test
1.Consulting firms prioritize candidates who
demonstrate confidence in case interviews due to
the psychological needs of clients facing
high-stakes decisions.
2.Confidence in case interviews is solely linked to
extroverted personalities, making it difficult for introverts
to demonstrate confidence.
3.Successful candidates often dedicate 50 to 100 hours
honing their case interview skills to build confidence.
Chapter 26 | THE TEN MOST COMMON
MISTAKES TO AVOID| Quiz and Test
1.Candidates are often aware of their common
mistakes but still commit them due to sufficient
practice.
2.Having a hypothesis at the beginning of analysis is
essential for guiding questions and data requests.
3.Engaging in irrelevant analyses can positively impact the
firm's profitability.

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Chapter 27 | ADVANCED CASE INTERVIEW
RESOURCES| Quiz and Test
1.The LOMS program includes video
demonstrations to complement reading materials.
2.Practicing with a partner can enhance your case interview
skills.
3.Hiring a coach is necessary to succeed in preparing for case
interviews.

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