Welcome to the Investment Banking Intern assessment! This assessment is part of the MeritFirst 2025 Intern & New Grad series of assessments. Your responses will be reviewed by hiring teams at any of our 100+ partner companies. Our goal is simple: to understand how you think, learn, and where you'll thrive. This assessment will test your abilities in the following areas: - Valuation & financial modeling fundamentals - M&A transaction mechanics & deal structuring - Financial statement analysis & EBITDA adjustments - Quantitative reasoning & technical accuracy - Clear verbal & written communication Format: You will respond through a mix of spoken, written, and multiple-choice answers, giving you the chance to demonstrate analytical depth and the ability to communicate clearly. Feel free to pause and think before answering; this assessment values thoughtful, well-structured responses over speed. For most questions, there isn't a single right or wrong answer—we want to see how you frame problems, the assumptions you make, and how you arrive at your decisions. You may use a calculator if needed, but LLMs, search engines, and other online resources are not permitted. Good luck!