Based on real interview tests I passed
Timed models, take-home cases and investment decisions, recreated with fictionalized company data. Choose your format, take the test, then review the worked answer and guided walkthrough.
Individual cases from $39 · One-time purchase · 30-day satisfaction refund
I might not have been the best at selling myself in interviews or deciding where I wanted to work, but I was good at the modeling tests. Over my finance career, I passed 25+ of them (not even counting the ones I took in college or live paper LBOs).
This library is built from those processes. Each case is a clean recreation with fictionalized company data that keeps the original test structure, time pressure, and analysis intact, along with how I approached the model and investment decision.
I remember how much time I spent digging for anything close to a real test before an on-site, looking for a working reference when I hit a wall mid-way through a take-home model, or checking my work before defending it to a deal team. That is what this bank is for.
Actual excerpts from Forge. Select an image to read it at full size. Each case's own page shows its candidate sample.
Forge's two-hour track. This is the workbook you complete.
Forge's forecast lesson, with working files and checkpoints.
A preview of Forge's investment memo rubric, with the answer kept out of view.
Start with the brief and candidate files. Choose an independent attempt or guided practice.
Use the worked answer and walkthrough to review the model, analysis and decisions.
Pick another case with a new company, starting point or required deliverable.
Browse by time. Each case shows its role, starting materials and required output. Take-home windows and advance preparation are listed separately.
Start with the free template-based case, then try a clean-sheet build.
PE · Free
Port Alder Field Supplies
Build the cash-flow model, repay two lenders in order and explain the sponsor return. Then compare with the worked answer and five-lesson walkthrough.
No signup or card needed. Self-directed practice.
PE
Juniper Trace Technology Services
A sponsor is considering a founder-owned IT services business. Model the acquisition and its financing, follow the cash through a recession, and calculate what the sponsor receives at exit.
Link an income statement, balance sheet and cash flow statement.
Excel, PDF, Text, Word
Open candidate sample (PDF)$39 USD · One-time purchase
Short operating models, valuation work and a sell-side summary. Sagebank also requires advance reading.
PE
Sagebank Landscape Services
Review an all-season landscape and snow-management company before building its three operating statements from scratch.
Three-statement forecasts and seasonal operating drivers.
Excel, PDF, Text
Open candidate sample (PDF)$39 USD · One-time purchase
IB
Brindle
Complete the original-style investment banking exam in its supplied .xls workbook. Build the standalone forecast, DCF and acquisition balance sheet. The reference workbooks use .xlsx after the timer.
Integrated forecasts, discounted cash flow and purchase accounting.
Excel, PDF
Open candidate sample (PDF)$59 USD · One-time purchase
IB
Calder Stage Services
Prepare a client-ready two-slide summary for a provider of technical crews to live events.
Income statement adjustments and basic slide charts.
Excel, PDF, PowerPoint, Text
Open candidate sample (PDF)$39 USD · One-time purchase
Longer models and investment analysis. Forge includes both a 2-hour template track and a 3-hour clean-sheet track.
PE
Manufacturing case
Build an LBO and investment recommendation in two or three hours. Compare with the completed model and worked solution.
$59 USD · One-time purchase
PE
Bramblewick Seafood
Build an acquisition model for a prepared surimi seafood processor. Underwrite volume and price by channel, fund the plant expansion and allocate exit proceeds.
Purchase accounting, rollover equity and sponsor returns.
Excel, PDF, Text
Open candidate sample (PDF)$59 USD · One-time purchase
PE
Larch Junction Products
Review a traffic and utility hardware manufacturer for an indication of interest. The candidate receives an acquisition memorandum and six independent operating reports.
Excel data analysis and investment committee presentations.
Excel, PDF, PowerPoint, Text
Open candidate sample (PDF)$59 USD · One-time purchase
More detailed underwriting, data analysis and investment recommendations. Any separate discussion is listed on the case.
PE
Alder Quay Magnetic Materials
Bid for a magnetic-materials manufacturer with and without a contracted EV plant.
LBO cash flows, project financing and incremental valuation.
Excel, PDF, Text, Word
Open candidate sample (PDF)$59 USD · One-time purchase
PE
Redwick Building Services
Underwrite a commercial HVAC, critical power and building automation contractor. Choose the price and unitranche leverage, reconcile service lines, compare the management and base cases, and brief the investment committee.
Acquisition funding, cohort cash flows and sponsor returns.
Excel, PDF, PowerPoint, Text
Open candidate sample (PDF)$59 USD · One-time purchase
PE
Meadowlark Pet Kitchens
Review an outsourced pet-food manufacturer’s sales through April 30, 2020.
Transaction filtering, comparable periods and margin bridges.
Excel, PDF, PowerPoint, Text
Open candidate sample (PDF)$59 USD · One-time purchase
PE
Kestrel Steering Systems
Evaluate a commercial vehicle steering supplier and recommend what to pay for its standalone operations.
Operating leverage, working capital and carve-out costs.
Excel, PDF, Text, Word
Open candidate sample (PDF)$89 USD · One-time purchase
48-hour, 72-hour and multi-day submission windows. These are deadlines, not hours of active work.
PE
Penwick Process Water
Underwrite recurring chemistry and project-based equipment for a regional industrial-water provider. The worked LBO includes a five-year forecast and condensed historical statements. Historical interest expense and other income are not broken out.
Three-statement LBOs and customer transaction analysis.
Excel, PDF, Text, Word
Open candidate sample (PDF)$89 USD · One-time purchase
PE
Threadwell Surface Products
Evaluate a Canadian premium metalworking consumables company with outsourced manufacturing and a multi-region growth plan.
Reading a CIM and writing a two-page investment recommendation.
Excel, PDF, Text, Word
Open candidate sample (PDF)$59 USD · One-time purchase
PE
Keelway Motion Systems
Evaluate a caster and wheel company with a proprietary engineering operation and a third-party distribution business.
Debt repayment, working capital and scenario valuation.
Excel, PDF, Text
Open candidate sample (PDF)$89 USD · One-time purchase
Credit
Tarnwell Bridge Lending
Underwrite the sponsor investment in a commercial mortgage origination and servicing platform.
Monthly cash flows, loan defaults and sponsor waterfalls.
Excel, PDF, Text
Open candidate sample (PDF)$89 USD · One-time purchase
Credit
Palisade Lift & Pump
Palisade Lift & Pump rents portable lifts and dewatering pumps to utilities, civil contractors and regional construction sites. A sponsor is assessing a stock acquisition and a five-year sale.
Rental fleet economics, borrowing bases and LBO returns.
Excel, PDF, PowerPoint, Text
Open candidate sample (PDF)$89 USD · One-time purchase
PE
Hearthline IT Services
Price a majority interest in a managed IT provider. Use the operating reports, budget and subsidiary accounts to test the offer in three scenarios.
Monthly financial consolidation and scenario-based buyouts.
Excel, PDF, Text
Open candidate sample (PDF)$89 USD · One-time purchase
A 60-minute discussion with 2–5 hours of typical preparation. The CIM is provided about 24 hours in advance.
PE
Lantern Court Parking Services
Prepare for an oral investment discussion using a historical parking and patient-access information memorandum.
Financial statement interpretation and contract economics.
Excel, PDF, Text
Open candidate sample (PDF)$39 USD · One-time purchase
Several distinct cases for more practice. Each collection lists its exact cases and full price.
PE
6 fixed case editions
5 paid case editions plus Port Alder, which is also available free on its own. Each case includes candidate materials, a worked answer and a guided walkthrough.
See the prerequisites for each included case.
Excel, PDF, Text, Word, PowerPoint
Open candidate sample (PDF)$189 USD · One-time purchase
PE
4 fixed case editions
Underwrite a steering carve-out, a water services buyout, a four-scenario distributor case and a managed IT investment. Build each LBO and write the recommendation requested in its brief. Penwick’s worked LBO uses condensed historical statements.
See the prerequisites for each included case.
Excel, PDF, Text, Word
Open candidate sample (PDF)$169 USD · One-time purchase
PE
4 fixed case editions
4 practice cases. Each includes its own candidate materials, worked answer and guided walkthrough.
See the prerequisites for each included case.
Excel, PDF, Text, PowerPoint, Word
Open candidate sample (PDF)$139 USD · One-time purchase
Credit
2 fixed case editions
2 practice cases. Each includes its own candidate materials, worked answer and guided walkthrough.
See the prerequisites for each included case.
Excel, PDF, Text, PowerPoint
Open candidate sample (PDF)$109 USD · One-time purchase
IB
2 fixed case editions
2 practice cases. Each includes its own candidate materials, worked answer and guided walkthrough.
See the prerequisites for each included case.
Excel, PDF, PowerPoint, Text
Open candidate sample (PDF)$79 USD · One-time purchase
Take the independent attempt first if you want a fresh assessment. The walkthrough and worked answer show how the case is solved, so opening them first makes a later timed attempt a repeat.
Check the prerequisites on the case page. The LBO cases are for people who know the basics and want practice applying them. The free distribution LBO case can help you work through the mechanics.
The case's candidate materials, worked answer and guided walkthrough, including downloadable files. Use My Practice to return to your purchased cases. Each product page lists the exact files and software requirements.
These are self-directed practice cases. You review your work against the reference materials. Personalized grading, coaching and a live interviewer aren't included.
Paid cases have a 30-day satisfaction refund. Email [email protected] from your purchase address. See the terms for the license and refund details.
Looking for a working reference or résumé template? These downloads are available separately.
Free · XLSX · No macros · 2 tabs
Change the assumptions in the Middle-Market Distribution LBO Model for a $150 million buyout. Trace revolver draws and debt paydown, then use the sensitivity tables to compare sponsor IRR and MOIC across exit assumptions.
Read the LBO build guide
Open full size Free · Word + PDF · 1-page layout with notes
Organize your roles and selected transactions on one page. Use the notes to turn your deal work into bullets that explain your contribution and the result.
Read the résumé guide with 75+ bullet examples
Open full size 