NAV:Fund Accounting - Interview exam?

Elizabeth101

Hi All,

I have been called for an interview for a NAV Fund Accounting position at Associate level.

I have been told that I will also have to sit a quiz on the day of the interview testing my NAV and accounting knowledge.

I am currently studying for this exam but would be extremely greatful if anyone could point my study in the right direction or provide any helpful tips?

If anyone has ever had to sit a similar exam I would love to hear your advice.

Thank you!

MrMatisse

Hi Elizabeth,
What you will get is a double entry bookeeping exam. It will be like ABC ltd buys a box of pens. And you will be asked for the accounting entries i.e Dr Expenses, Cr Bank, about 20 questions like that.

And a few basic quesions like what is a future, forward etc.

If you can get your hands on the DEBK (double entry booking) exam the ACA trainees do in first year that is pretty much exactly what you will be asked.

Jim2007

Elizabeth101 wrote: »

Hi All,

I have been called for an interview for a NAV Fund Accounting position at Associate level.

I have been told that I will also have to sit a quiz on the day of the interview testing my NAV and accounting knowledge.

I am currently studying for this exam but would be extremely greatful if anyone could point my study in the right direction or provide any helpful tips?

If anyone has ever had to sit a similar exam I would love to hear your advice.

Thank you!

It is not a direct comparison, as I work on the software side of funds management - designing various tools and so on, but at our interviews we usually ask programmers to complete a random set of questions from the CFA papers on things like:

- Calculation of NAV for funds based on different rules and examples
- Calculation of performance
- Calculation of attribution
- Real versus Absolute returns
- CFA reporting rules for funds in relation to performance
- Types of index and how they are calculated
- Index construction
- Valuation of various types on instruments
- Explanation of various derivative products
- Explanations of how to hedge various positions
- General questions about investment strategies and so on.

Like I said this is for our IT staff, but I would expect accounting staff to have at least this level, if not higher!

Jim.

MrMatisse

its nowhere near that level. its very basic

Jim2007

Really-Stressed wrote: »

its nowhere near that level. its very basic

So what is your definition of an associate and what kind of fund accounting exactly are you doing.... or are you perhaps talking about back office operations as opposed to fund accounting?

Jim

IIDSIIELMO

They might ask you what a cash break on a cash reconciliation is. They'll give you 2 trades and you might have to perform a reconciliation between the two trades. What kind of study are you doing for it?

MrMatisse

If its for state street or something and you have no experience it will be really basic as I have said.

phunkymonk

hey, just had an interview there for a fund accountant position got on pretty good...but what are people on as a fund accountant?what is a good starting salary?

would love to hear from people who know!

holly84

Hi Elizabeth,

Just wondering how your exam went as I am preparing to do a similiar exam soon. Any advice you could give me about the structure of the test?

Thanks