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This question is timed, the interviewer will eventually come back and work through the file with you, but they do not tell you that before leaving. I made a mistake in my calculations and didn’t go back as I thought the timer was a hard limit. 1 You make 100 total loans. For each low risk customer you charge $30 a per month in interest, and for each high risk customer you charge $235 per month in interest. 1a) Personally, how many of these 100 loans would you target to assign to low, medium, and high risk? Why? 1B) Assume you chose a 40/30/30 split of Low/Medium/High risk customers. Customers pay the same amount of interest every month for three years. Loan values are given blow, and you assume that 2 low risk, 6 medium risk, and 7 high risk customers never make a payment. The remaining customers all make their payments. How much monthly interest must you charge the Medium risk customers to break even Loan amounts – Low Risk - $12,000 Medium Risk - $20,000 High Risk – 25,000 2.) You gather characteristics to help with the decision process 2A Create a rule that inputs some of the below characteristics and outputs a decision / low / medium / high risk or decline. The rule set should contain if then statements (7 applicants are listed with a range of values in the these categories: Loan Amount | Monthly Income | Co-Applicant | Mortgage | Use of Credit | Length at Current Job | Age of Vehicle 2B How does this rule set apply to the sample applications. Fill in the decision column in the table. 1 You make 100 total loans. For each low risk customer you charge $30 a per month in interest, and for each high risk customer you charge $235 per month in interest. 1a) Personally, how many of these 100 loans would you target to assign to low, medium, and high risk? Why? 1B) Assume you chose a 40/30/30 split of Low/Medium/High risk customers. Customers pay the same amount of interest every month for three years
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Manager, Product Strategy & Analytics

Interviewed at CarMax

3.5★
Jul 1, 2021

This question is timed, the interviewer will eventually come back and work through the file with you, but they do not tell you that before leaving. I made a mistake in my calculations and didn’t go back as I thought the timer was a hard limit. 1 You make 100 total loans. For each low risk customer you charge $30 a per month in interest, and for each high risk customer you charge $235 per month in interest. 1a) Personally, how many of these 100 loans would you target to assign to low, medium, and high risk? Why? 1B) Assume you chose a 40/30/30 split of Low/Medium/High risk customers. Customers pay the same amount of interest every month for three years. Loan values are given blow, and you assume that 2 low risk, 6 medium risk, and 7 high risk customers never make a payment. The remaining customers all make their payments. How much monthly interest must you charge the Medium risk customers to break even Loan amounts – Low Risk - $12,000 Medium Risk - $20,000 High Risk – 25,000 2.) You gather characteristics to help with the decision process 2A Create a rule that inputs some of the below characteristics and outputs a decision / low / medium / high risk or decline. The rule set should contain if then statements (7 applicants are listed with a range of values in the these categories: Loan Amount | Monthly Income | Co-Applicant | Mortgage | Use of Credit | Length at Current Job | Age of Vehicle 2B How does this rule set apply to the sample applications. Fill in the decision column in the table. 1 You make 100 total loans. For each low risk customer you charge $30 a per month in interest, and for each high risk customer you charge $235 per month in interest. 1a) Personally, how many of these 100 loans would you target to assign to low, medium, and high risk? Why? 1B) Assume you chose a 40/30/30 split of Low/Medium/High risk customers. Customers pay the same amount of interest every month for three years

There will be a logic/behavioral test to get an interview. There is a fielding intro interview followed by a test with a "manager" although I'm skeptical on leveling. There is a case interview surrounding where to place a CarMax dealership based on variables that have to do with town planning. The value of a property will decrease substantially if a bill is passed, but may yield a better location for the dealership vs the more expensive land location that has to do something with a build for a bridge project.
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Business Strategy Manager

Interviewed at CarMax

3.5★
Feb 10, 2022

There will be a logic/behavioral test to get an interview. There is a fielding intro interview followed by a test with a "manager" although I'm skeptical on leveling. There is a case interview surrounding where to place a CarMax dealership based on variables that have to do with town planning. The value of a property will decrease substantially if a bill is passed, but may yield a better location for the dealership vs the more expensive land location that has to do something with a build for a bridge project.

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