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NAV:Fund Accounting - Interview exam?

  • 07-10-2010 12:44pm
    #1
    Registered Users Posts: 3 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!


Comments

  • Closed Accounts Posts: 1,743 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.


  • Moderators, Business & Finance Moderators Posts: 7,632 Mod ✭✭✭✭ Jim2007


    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.


  • Closed Accounts Posts: 1,743 MrMatisse


    its nowhere near that level. its very basic


  • Moderators, Business & Finance Moderators Posts: 7,632 Mod ✭✭✭✭ Jim2007


    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


  • Registered Users Posts: 55 ✭✭ 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?


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  • Closed Accounts Posts: 1,743 MrMatisse


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


  • Registered Users Posts: 144 ✭✭ 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!


  • Registered Users Posts: 8 ✭✭✭ 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


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