Technical Questions:
1.econometrics stochastic process
a.Brownian motion/random walk
2.risk management
a. coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events
b. Risk management’s objective is to assure uncertainty does not deflect the endeavor from the business goals.
3.binomial tree
a. create the binomial price tree
i. up and down factors are calculated using the underlying volatility and the time duration of a step, u=1/d
b. find option value at each final node
c. find option value at earlier nodes
4.utility functions
5.financial derivatives
a. A derivative is a security with a price that is dependent upon or derived from one or more underlying assets. Its value is determined by fluctuations in the underlying asset.
6.how to determine the price? /bid-offer spread
a. Find economic equilibrium – supply demand
b. The bid-ask spread is the difference between the bid price for a security and its ask (or offer) price. It represents the difference between the highest price that a buyer is willing to pay (bid) for a security and the lowest price that a seller is willing to accept for it.
c. A transaction occurs either when a buyer accepts the ask price or a seller takes the bid price.
7.Expectation/ Expected Return
8.F.O.C/ maximum
9.Central bank and how it functions
a. A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates.
b. Manipulate liquidity in the financial system
c. Determines currency stability, inflation and employment
d. Issue currency, and set interest rates on loans and bonds
e. Reserve rates
10.Game Theory
11.How to choose portfolio under mean-variance framework?
12.Confidence Interval
13.CAPM beta/Security Market Line
a. Compensation: time value (risk-free rate, i.e. 10-year government bond yield), risk (volatility*risk premium (the difference between market rate and risk-free rate))
b. Expected return
14.Risk measurement/ SD, var, cov/ how to calculate β1
15.What is the difference in transmission mechanism between 2000 Dot-com bubble and Subprime mortgage crisis/ bitcoin
16.Auction Theory
a. http://wiki.mbalib.com/wiki/%E6%8B%8D%E5%8D%96%E7%90%86%E8%AE%BA
17.Bail-out/ Greek, US/ Regarding the crisis of Greece, what are key factors to create a successful currency area? (Recent News)
18.Bayes' theorem
a. https://en.wikipedia.org/wiki/Bayes%27_theorem
19.IPO-discount
20.两个identical firm 定价策略，一期，两期，无限期。根据无名氏定理，一期两期P=C，无限期可有垄断利润。
21.Monty Hall Problem
22.financial innovation
23.financial crisis and its relationship to financial instruments/how do you see yourself related to the financial crisis
a. a situation where some financial assets suddenly lose a large part of their nominal value
b. mortgage-backed security
24.What do you think is the most important development in capital structure over the past 50 years?
25.Debt to Equity Swap
26.please explain "hedge fund" to a person who doesn't know about finance / the difference between hedge fund and mutual fund?
27.arbitrage
Behavioral Questions:
- Current internship
- Major achievement/ how do you evaluate your product?
- How do you see yourself in 10 years? / Career Goal
- Why MFE? Why Oxford? / What do you want to learn in Oxford?
- Why YOU？
- What Math have you learnt?
- Research Experience
- If you are a student in this course, and you want to explain this course to someone who has no related background, how would you explain?
- What are other programs that you have applied? What’s your plan B?
- What do you think is the most challenging problem if you study in Oxford?
Do you have any questions for me?
Some tips:
· Eye Contact
· Read Financial Times & The Economist
· Thank-you letter
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