Last Updated: Mar 4th, 2026
One of the world's most familiar and well-regarded investment banks, Houlihan Lokey is a great stepping stone into the banking world.
US residents can apply to become a "Summer Analyst"- a 10-week internship program targeting MBA students and grads, which offers a real pipeline into full-time career opportunities.
Getting in can be a hurdle, though. An online assessment consisting of logical reasoning, numerical questions, a clerical test, and a personality questionnaire stands between you and your internship. Let's take a look at the assessment and how you can stand out from the competition.
Checking and Accuracy Tests
Logical Reasoning
Number Series
Personality Assessment
Houlihan Lokey's recruitment process is similar to those of many banks and investment firms. It begins with filling out an online application form, followed by a brief HR-style phone interview.
Once you clear these steps, you arrive at the big screening phase, where many candidates are removed from consideration: the online assessment. It takes about 30 minutes to an hour and contains two distinct parts:
Some positions may also include a technical test with more job-specific questions.
If you pass this assessment, you will be cleared for longer interviews, often video-cam interviews using the HireVue platform.
Let's take a look at sample questions for the cognitive and psychometric sections, taken from out practice course which covers them.
Founded in 1972, Houlihan Lokey is consistently ranked among the most trusted investment banks, especially for merger and acquisitions (M&A) transactions.
Headquartered in Los Angeles, its central internship program for American residents typically spans June-August, but applications can open more than a year in advance.
The cognitive part of the test (essential competencies) lasts 15 minutes, where the goal is to answer as many questions as you can in that time.
Question types featured on this part include
Let's look at an example of each:
Observe the following alphanumerical code:
A4JLitcCjkl
Which of these options is identical to the one above?
Many test-takers report that singing the code in their mind helps, using different melodies for upper-case and lower-case characters.
Once you notice an inconsistency with the source code, move on. No reason to spend more time with this option, as it is clearly wrong. However, if you read an entire answer otion and couldn't find a problem - click it and move to the next question. Remember, you need to answer as many questions as you can in your alloted time.
Here is a set of rules:
All Secret Service Special Agents are full-time employees.
No part-time employees receive security clearances.
Some full-time employees are not Secret Service Special Agents.
Tim does not have a security clearance.
Joan is a Secret Service Special Agent.
Based on these, the statement "Tim is a part-time employee" is:
For these questions, everything you need to know is contained in the question itself. Some items may try to trick you by posing a question that appears to rely on outside information about the world. Don't fall for it!
Observe the following series:
156 | 246 | 369 | 178 | 347 | ?
Which of these numbers should take the place of the question mark?
Guessing wrong can affect your score negatively, so try to solve every question to the best of your abilities even at the cost of spending more time on a single question.
Now, let's take a look at the type of questions that appear on the psychometric of personality part of the exam:
Rate the following statement according to how true it is for you:
I believe that I do my job better than others.
Always eliminate the neutral option (in this case "somewhat like me"). Your answers should reflect agreement or disagreement for employers to better understand your attitudes toward work.
Houlihan Lokey's programs and positions are highly competitive and selective, industry-oriented programs. The acceptance rate is usually around 6% of all applications.
Acing the assessment can highly increase your chances of being selected.
Houlihan Lokey is a top investment bank. They consistently rank #1 in global M&A transactions and restructuring, showcasing their expertise and success in core investment banking areas.
