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Jun 9, 2011 4:35 am

Did they give you advice on your business plan? Did they suggest revisions? I made a business plan based on what I read here and I gave it to them at my rotational interview. They were very impressed. However, I was told that my interview with the BM would involve going over my business plan, and I was wondering if I should make any changes. 

Jun 9, 2011 6:26 am

My process has been different for me. I first met with the resident director of the office who is esentially the branch manager. The office I am trying to work in is really big though and has a lot of employees. He said he was impressed that I had a business plan and wondered how I knew I needed to do one. He told me to listen to some audio clips from a former ML employee named David Mullen and then go back over my business plan and decide if I need to make any changes/add things.

I took it in the way that I need to do something different and that there were some key parts missing. I completely changed the lay out of the entire business plan but kept my mission statement, and my two year financial goals at the end the same.

There isn't a predetermined format for how any business is to look, just suggestions. I followed David Mullen's discussion topics of how to build a million dollar practice, changed the names, and elaborated on what he talked about and how I will execute my plans.

My format is:

mission statement

why me?

natural market

niche markets and tactics

goals and numbers

monitoring performance

getting the appointments

handling rejection (this is an important part)

the appointment

turning prospects into clients

two year financial goals

daily routine

I even made a title page with a Malcolm Gladwell quote I like and then inserted the ML Bull logo at the bottom. I printed five copies on thicker paper and put them into plastic book sleeves at Kinkos. I printed five because I went back to each person that interviewed me and gave them a copy. I figure it can't hurt.

Jun 10, 2011 7:01 pm

Where did you find these David Mullen audio clips? 

Jun 10, 2011 7:26 pm

It was a secured link they sent me. His name is David Mullen and this is the site his material is on:

http://www.learntactix.com/

His book:

http://www.amazon.com/Million-Dollar-Financial-Services-Practice-Becoming/dp/0814480527

Jun 11, 2011 2:17 pm

I took the FIAT on a Monday, they told me I had passed after about 5-10 minutes and I had 3 interviews after that. Economics questions had to do with fiscal and monetary policy as well as inflation and such. Finance was simple percentage gains and stock purchase calculations and math was fractions and decimals.

My interviews were with a PMD coach, one with the region office director and one with a successful FA in the office.. the last one told me that I was going to get an offer but that he wasn't supposed to tell me, then I left.

I got the personality test via email within an hour and took it later in the day, I got a call while I was taking the personality test asking me to come back the next day (Tuesday), they didn't specify why.

The next day I walked in and shook the regional office director's hand as he congratulated me and then I completed about 10 minutes worth of paper work and  they told me I would recieve the official offer with details via email.

Got it about a week later and declined.

BTW I never had an official business plan nor was I asked for one, all I had was an outline of where and who I would prospect and a few goals which I only used as a reference to speak on (they never saw it). I also brought a list of questions for them, half the questions posted on here should be either asked during the interviews or told to you.

Jul 8, 2011 7:20 pm

Just took it this past week.  A little harder than I had expected but not overwhelming. 30 multiple choice; online; scratch paper and pencil only; no calculator; no option to go back and review your answers.  Once you advanced the screen to the next question, you could not go back.

Sample question:  if the current CPI is 2.62 and it rises x% this year and y% next year, what is the final CPI.

Sample question:  what is the decimal equivalent of 1 millionth

Sample question:  50 shares of a stock are bought at $x/share and 50 more shares at $y/share.  Then all shares are sold for $3,250.  What was the rate of return?

Sample question:  If Joe Broker earned 3x as much in the fourth week of the month as he did in the other three, what fraction did he earn in the fourth week:  3/4; 3/7; 4/7; 5/7.

Sample question:  equal shares of stock were bought at $a, $b, $c, and $d.  What would the next purchase need to be so the average cost per share was $x.

Monetary and fiscal policy (what causes expansion vs contraction) were economics. 

If I had it to do over again, I would have found my sixth grader's worksheets and practiced long-division using decimals.  No joke.  It is the simple things that twist you up.

Sep 20, 2011 11:54 pm

[quote=bmadd]

Oct 8, 2012 5:31 pm

You have to take a test to own the new Abarth?

Nov 2, 2012 5:29 am

it’s important to know ISDN basics not only for your particular exam, but for job success.ISDN is used between two Cisco routers that have BRI or PRI interfaces.

http://www.testluck.com/199-01.php