After the phone interview, I was invited to an Assessment Day. This had 4 phases: a numerical test, a presentation (detailed in "most difficult or unexpected question"), a 1:1 interview, and a group exercise. The numerical test was merely to check that your previous online test had not involved cheating, so it was pretty easy (I even noticed the girl next to me - a Finance Master from Warwick!- get some wrong and she got an offer). Same format as online. The presentation is detailed below. The 1:1 interview was pretty much like all my other ER interviews. Classic questions: why UBS? Why ER? If we gave you a pot of money to invest, what would you do with it? Tell me about a recent business story that interested you. What would you bring to our team? What would your friends say about you? Interestingly no particularly tough maths questions (in other interviews I've been asked things like how to calculate the number of petrol stations in the country). Group exercise follows on from the same topic as the presentation. This time we all were given a character from Sony's executive committee to play, each with a project in mind to rejuvenate the company's fortunes. After 15 mins to prep (i think) we then had a further 15 mins to debate the best way to allocate a pot of cash and had to choose 1 project. The trick for this I think is to at some point raise your voice and clearly articulate the point of view you are meant to play. However, don't be dictatorial about it. Sit up, listen to others and then make sure you voice your own opinion about what would be best having judged everyone else's contribution. Demonstrate strength of character, the ability to listen, an analytical mind and teamwork capabilities. Don't be too pushy.