The first question you’ll face is exactly what kind of quiz you’ll be doing. There are tons of different kinds out there, but many of them will test things like your ability to read charts and graphs, your ability to understand and analyze data, and your ability to make sound decisions based on facts. Some questionnaires will also test your ability to develop good investing strategies.
Some questionnaires aren’t quite as cut and dried as others. You might be asked a few general questions, such as which of your hobbies is your favorite. Others will ask you specific questions. One that I’m sure you’re familiar with comes from an investment bank. They’ll ask you about your experience with the market, whether or not you’ve traded in any hedge funds, and some other questions to see how well you understand risk and other concepts related to trading.
There are also a few questionnaires that are much more geared towards actual skills. One will have you answer questions based on real-life examples. For example, you’ll be asked to assess how well you managed a hedge fund that was facing bankruptcy. You’ll then be given a score based on how well you managed the situation. This will help you better understand what you should have done differently the next time around.
Questionnaires like these are designed to help assess how well someone will do with real-life situations. If you aren’t comfortable answering a hypothetical question, you probably aren’t going to do well with managing a real hedge fund. You’ll end up giving answers that are generic, rather than tailored to a specific situation. As a result, you won’t do as well as someone who knows a little bit about what they’re answering.
What do those results mean for you? The first thing you need to do is really think about how much experience you have in the types of hedge funds you’re talking about. If you’re fairly new to the game, you can focus on one type of hedge funds and find out how well you do with it. If you’re more experienced, you can go back to school and get some specific training in managing different types of hedge funds. Either way, you should get a feel for what kinds of questions will be asked on this form.
You can’t really put too much weight on the contents of your OSHAQ, however. The way the questions are asked and the variety of them will affect your ability to perform well. Some questions will test you on specific skills, while others will be open-ended. There are even questions that ask about general management skills, so don’t think that you’ve already got it all down. Make sure you take my operating hedge funds quiz and make sure you’re up to the challenge.
Don’t let your worries hold you back from this fun activity. Knowledge is power and nothing is more powerful than that. Don’t think you have to rely solely on book knowledge and experience – there’s plenty of information available on the internet. Just take my operating hedge funds quiz and get started!