How A CA Cracked CAT And The IIM Lucknow Interview

How often do you happen to share the same classroom with an AIR 20 in CA who has cracked the exam in the first attempt and then made it big to IIM Lucknow in the first attempt again? Too many firsts right? Catching up with such brilliant people is always a pleasure.
I happened to have a chat with Pooja Pande about her CAT experience and thought why not share it across with you all.

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Q. How did you prepare for your CAT 2018 exam?
A. I had joined CAT coaching classes from February 2018 at TIME. I was quite regular in classes.
However, I started self-studying from July end. I regularly gave mock tests from August and used to solve sectional tests of 1 hour daily for weak topics. DILR was pretty decent for me, so I focused majorly on Verbal ability and Quant. Additionally, in order to improve my reading speed, I diligently read a novel or something for 15- 20 minutes daily.
As per me, it is very important to keep on giving mock tests as they help you evaluate your performance.

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Q. How did you prepare for the WAT/PI at IIM L?
A. So I am going to answer this question in three parts - CA specific, work specific and general preparation.

CA specific: I brushed up my basics of CA, specifically if you plan to say a subject as your favorite when asked, you should know thoroughly about that subject.

Specific to work: I was working with Axis Bank. Therefore, I prepared a lot about my work-related questions and I would keep myself updated about the happenings in the financial markets. I read Mint daily, at least for 1 hour. It helped me form a view of my own on current topics.
I read about major financial crises of the world, the then infamous NBFC crisis of India, corporate governance issues of the banking sector, etc. as these all were related to both finance and my work.

WAT: For WAT,  I joined coaching. Ideally, a person should be writing at least 1 WAT daily. This develops the habit of thinking on topics you barely have any idea of. I would send my WATs to my teacher and she would review them.

PIs: It is very important to attend as many mock-PIs as you can. This helps you to know what all areas are there from which a question can come. Also, you would be able to frame additional questions based on the questions asked in mock.
Also, in case you have a hobby, you should be able to justify it.

In the end, the most important thing in any interview is confidence (do not read it as overconfidence).

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Q. How was your PI experience for IIM Lucknow? What questions did they ask you?
A. I was the following questions:

1. So as you are a CA, do an ROI calculation regarding the opportunity loss that you are going to have and the time when you plan to breakeven. *CAs, better be prepared with numbers. I think it's a better approach to keep on discussing with the interviewer, the assumptions that you using while doing any such thing. Maintaining a conversation helps*
2. Who is the current Governor of RBI?
3. Who is the head of Lok Sabha?
4. How many members are there in Rajya Sabha?
5. Who is the Chairman of SEBI?
6. What is the ICICI Bank- Chanda Kochar case?
7. Where is Bayes' theorem used?
8. Write a poem about this interview, now? *As I mentioned that I am a poet*

The interview ended after this.

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Key takeaways:

• Discipline plays a crucial role in CAT preparation.I have known Pooja for quite some time now and one thing that stands out her is her passion and discipline about what she wants to do.  Pickup things in a structured manner and do them diligently.
• Always have a structured approach to your answers. Break them into sub-parts and then proceed with it.
• Discussing your ideas with the interviewer always helps. Not only is that a sign of maturity and confidence but it also helps you present your points with more clarity. I can personally vouch for this.
• The panelists will discuss the topics you are good at. Some basic questions that you should know. They will not put you in deep waters till the point what you claim and what you actually know is not different.
• Always be prepared with your hobbies and talk about them passionately. This is personal to you and it should reflect in your answers.

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About the author: Pooja Pande is a Chartered Accountant. She cracked the exam in the first go and attained an AIR of 20. Post that, she worked with Axis Bank, Mumbai for 2.5 years. She then joined IIM Lucknow and here, she is a part of Abhivyakti - the dramatics club at IIM Lucknow. An accountant by profession but a poet at heart. If ever you happen to get to IIM Lucknow, do meet one of the finest poetesses here. And more than that, one of the best seniors you will get on campus!