## Introduction-

Expert Level Equity Research Brain Teaser Questions serve as a crucial tool in pushing experienced professionals to their limits within the realm of financial analysis. These challenging scenarios delve deep into the intricate workings of financial markets, demanding a profound comprehension of company valuation methodologies and industry intricacies. The complexity of these brain teasers often lies in the need for intricate calculations, the application of critical thinking, and the skill to draw insightful conclusions from scant data. By engaging with such intellectually stimulating questions, professionals are not only able to refine their analytical prowess but also elevate their capacity for making informed decisions in high-pressure situations. Ultimately, mastering these brain teasers equips individuals with the competitive edge required to excel in the fast-paced and dynamic landscape of equity research.

### Expert Level Equity Research Brain Teaser Questions with Answers

**If a plane crashes on the border of the United States and Canada, where do they bury the survivors?**

**Suggested Answer:**The question about where to bury survivors of a plane crash on the border of the United States and Canada is a riddle. The answer is that survivors are not buried at all, as they are alive

**What has an eye but can’t see?**

**Suggested Answer: **A needle. It has a hole, often called the eye, but it obviously can't see

**How can you make six into an odd number?**

**Suggested Answer: **To make "six" into an odd number, you can remove the "s" from "six," which leaves you with "ix," the Roman numeral for 9, which is indeed an odd number.

**You have two hourglasses: a 7-minute and an 11-minute. How can you measure exactly 15 minutes?**

**Suggested Answer: **

To measure exactly 15 minutes using a 7-minute hourglass and an 11-minute hourglass, follow these steps:

**Start both hourglasses**at the same time.When the

**7-minute hourglass**runs out, flip it immediately. At this point, 7 minutes have passed, and there are 4 minutes left in the 11-minute hourglass.When the

**11-minute hourglass**runs out, flip it immediately. Now, 11 minutes have passed, and the 7-minute hourglass has been running for 4 minutes since you flipped it.When the

**7-minute hourglass**runs out again (which will take 3 more minutes), a total of 14 minutes will have passed (7 + 7).Finally, let the 11-minute hourglass run for just 1 more minute. This gives you a total of 15 minutes.

**If it takes five machines five minutes to make five widgets, how long would it take 100 machines to make 100 widgets?**

**Suggested Answer: **

To solve this problem, we can break it down step by step.If it takes **five machines five minutes to make five widgets**, we can deduce that:

Each machine makes

**one widget in five minutes**.

Now, if we have **100 machines**, they will all work simultaneously. Since each machine still takes **five minutes to make one widget**, we can calculate how long it would take 100 machines to make 100 widgets:

In five minutes,

**100 machines**will produce**100 widgets**because each machine makes one widget in that time.

So, the answer is that it would take **five minutes** for 100 machines to make 100 widgets.

**There are two doors, one leading to certain death and one to freedom. There are two guards, one who always tells the truth and one who always lies. You can ask one guard one question. What do you ask to find the door to freedom?**

**Suggested Answer: **

In this classic logic puzzle, the key is to formulate a question that will lead you to the door to freedom, regardless of which guard you ask. Here’s how you can do it:You would ask either guard the following question: **"If I were to ask the other guard which door leads to freedom, what would he say?"**Here's the reasoning behind this question:

**If you ask the truth-telling guard**, he will truthfully tell you what the lying guard would say. The lying guard would point to the door that leads to death. So, the truth-telling guard would indicate the door to death.**If you ask the lying guard**, he will lie about what the truth-telling guard would say. The truth-telling guard would point to the door that leads to freedom, but since the lying guard always lies, he will also point to the door that leads to death.

In both cases, whether you ask the truth-teller or the liar, the answer will point to the door that leads to death. Therefore, you should choose the **opposite door** to find the door to freedom.

**What disappears as soon as you say its name?**

**Suggested Answer: **

When you say the word "silence," you break that silence, causing it to disappear.

**If you were running a race and you passed the person in second place, what place would you be in now?**

**Suggested Answer: **

If you were running a race and you passed the person in second place, you would now be in **second place**.This riddle plays on the common assumption that passing someone automatically puts you in first place, but it's important to remember that you only overtake the person in second, not the one in first.

**What can you hold in your right hand, but not in your left hand?**

**Suggested Answer: **The answer to the riddle "What can you hold in your right hand, but not in your left hand?" is **your left hand**.This riddle cleverly plays with the concept of physical limitations, as you can only hold your left hand with your right hand.

**There are 8 oranges in a bag. How can you divide them among 8 people so that each person gets one orange while still leaving one in the bag?**

**Suggested Answer: **

To divide the 8 oranges among 8 people so that each person gets one orange while leaving one in the bag, you can do the following:

Give 7 people one orange each, which accounts for 7 oranges.

For the 8th person, give them the bag with the last orange still inside it.

This way, each of the 8 people has one orange, and there is still one orange left in the bag.

**If you have a 5-liter jug and a 3-liter jug, and an unlimited supply of water, how can you measure exactly 4 liters?**

**Suggested Answer: **

To measure exactly 4 liters using a 5-liter jug and a 3-liter jug, follow these steps:

Fill the 5-liter jug with water.

Pour the water from the 5-liter jug into the 3-liter jug until it is full. This will leave 2 liters in the 5-liter jug.

Empty the 3-liter jug.

Pour the remaining 2 liters from the 5-liter jug into the 3-liter jug.

Fill the 5-liter jug again with water.

Pour water from the 5-liter jug into the 3-liter jug until it is full. This will leave 1 liter in the 5-liter jug.

The 1 liter in the 5-liter jug, combined with the 3 liters in the 3-liter jug, will equal exactly 4 liters.

**A bat and a ball cost $1.10 in total. The bat costs $1.00 more than the ball. How much does the ball cost?**

**Suggested Answer: **

Certainly! Let's break this brain teaser down step by step in a conversational manner, as if I were explaining my thought process during an interview at a top investment bank's equity research department.

**First, we're given two pieces of information:**

The total cost of a bat and a ball is $1.10.

The bat costs $1.00 more than the ball.

Let's denote the cost of the ball as (B) and the cost of the bat as (B + $1.00), since the bat costs $1.00 more than the ball.

From the first piece of information, we know that the total cost of both items is $1.10. So, we can set up the equation: [B + (B + $1.00) = $1.10]

Simplifying this equation gives us: [2B + $1.00 = $1.10]

To find out how much (B) (the ball) costs, we need to isolate (B) on one side of the equation. Subtracting $1.00 from both sides gives us: [2B = $1.10 - $1.00] [2B = $0.10]

Finally, dividing both sides by 2 to solve for (B) gives us: [B = $0.10 / 2] [B = $0.05]

So, the ball costs $0.05.

**How many times do the hour and minute hands of a clock overlap in a day?**

**Suggested Answer: **

In a typical 12-hour period, the hour and minute hands of a clock overlap 11 times. This might seem a bit counterintuitive at first, so let’s break it down:

**Understanding the Overlap**

**Hourly Movement**: The minute hand completes a full revolution (360 degrees) every hour, while the hour hand moves only 30 degrees (since it moves from one hour mark to the next).**Calculating Overlaps**: The hands overlap approximately every 65 minutes. This is because the minute hand needs to catch up to the hour hand after each overlap.**12-Hour Cycle**: In a 12-hour cycle, the hands overlap 11 times. This is because the first overlap occurs shortly after 12:00, and then they continue to overlap roughly every 65 minutes until just before the next 12:00.

**Total in a Day**

Since there are two 12-hour cycles in a day (from 12:00 AM to 12:00 PM and from 12:00 PM to 12:00 AM), we simply double the number of overlaps:

**11 overlaps in 12 hours**x**2**=**22 overlaps in 24 hours**.

**What has four fingers and a thumb but isn’t alive?**

**Suggested Answer: **

The answer to this riddle is **a glove**.

**Explanation**

**Structure**: A glove is designed to fit on a human hand, featuring four finger compartments and one thumb compartment, mimicking the anatomy of a hand.**Non-Living**: Despite resembling a hand, a glove is an inanimate object, which aligns with the clue that it "isn't alive."

**If you have a 5-gallon bucket and a 3-gallon bucket, and you want to measure out exactly 2 gallons of water, how can you do it?**

**Suggested Answer: **

To measure out exactly 2 gallons of water using a 5-gallon bucket and a 3-gallon bucket, you can follow these steps:

**Fill the 5-gallon bucket completely**.**Pour the water from the 5-gallon bucket into the 3-gallon bucket until it's full**.

This will leave 2 gallons in the 5-gallon bucket.

**Empty the 3-gallon bucket**.**Pour the remaining 2 gallons from the 5-gallon bucket into the 3-gallon bucket**.

The 5-gallon bucket will now be empty.

**Fill the 5-gallon bucket completely**.**Pour water from the 5-gallon bucket into the 3-gallon bucket until it's full**.

This will leave 1 gallon in the 5-gallon bucket.

**The 3-gallon bucket now contains exactly 2 gallons of water**.

**Explanation**

The key to solving this problem is to use the 3-gallon bucket as a measuring tool. By pouring water from the 5-gallon bucket into the 3-gallon bucket until it's full, you can measure out 3 gallons and leave 2 gallons in the 5-gallon bucket. Then, by emptying the 3-gallon bucket and pouring the remaining 2 gallons from the 5-gallon bucket into it, you can measure out exactly 2 gallons.

**What can be broken but never held?**

**Suggested Answer: **

The answer to this riddle is **a promise**.

**Explanation**

**Concept of a Promise**: A promise is a commitment or assurance that one will do something in the future. While it can be "broken" if the person fails to follow through, it is not a physical object that can be held in your hands.**Intangible Nature**: This riddle highlights the intangible nature of promises and how they rely on trust and integrity. Once broken, the impact can be significant, even though the promise itself cannot be physically grasped.

**How do you know a man came through the desert on a camel?**

**Suggested Answer: **

The answer to this riddle is: **You can tell because the man has "sand" in his clothes.**

**Explanation**

**Contextual Clue**: The riddle plays on the idea that traveling through a desert, especially on a camel, would naturally lead to sand getting into one’s clothing. It’s a humorous way to suggest that the environment leaves a mark on those who traverse it.**Visual Imagery**: This riddle evokes a vivid image of a man who has journeyed through a sandy landscape, and the presence of sand serves as a clear indicator of his travels.

**What is always in front of you but can’t be seen?**

**Suggested Answer: **

The answer to this riddle is **the future**.

**Explanation**

**Concept of the Future**: The future is always ahead of us, representing what is yet to come. While we can plan for it, anticipate it, and even strategize based on our expectations, we cannot physically see or know it until it unfolds.**Philosophical Insight**: This riddle invites us to think about time and our perception of it. It emphasizes the uncertainty and potential that the future holds, which can be both exciting and daunting.

**A man left home running. He ran a ways and then turned left, ran the same distance and turned left again, ran the same distance and turned left again. When he got home, there were two masked men. Who were they?**

**Suggested Answer: **

The answer to this riddle is **the baseball players**.

**Explanation**

**Clues in the Riddle**: The riddle mentions the man running and turning left three times, which is a clear reference to the game of baseball. In baseball, the bases are arranged in a square, and players run around them in a counterclockwise direction.**Masked Men**: The "two masked men" are likely the catcher and the umpire, who wear masks as part of their protective gear.

**Conclusion**

This riddle demonstrates the importance of lateral thinking and contextual awareness in problem-solving. By recognizing the baseball-related elements in the riddle, such as running around bases and the presence of masked individuals, one can arrive at the correct answer.

**I have cities but no houses, forests but no trees, and rivers but no water. What am I?**

**Suggested Answer: **

The answer to this riddle is **a map**.

**Explanation**

**Representation**: A map is a visual representation of a geographical area, such as a country, continent, or the entire world. It depicts various features like cities, forests, and rivers, but these elements are represented symbolically rather than physically present on the map itself.**Abstraction**: Maps abstract the real world into a simplified, two-dimensional format. They use symbols, colors, and labels to convey information about the locations and characteristics of different features.

**If you multiply this number by any other number, the answer will always be the same. What number is it?**

**Suggested Answer: **

The answer to this riddle is **zero**.

**Explanation**

**Mathematical Property**: When you multiply zero by any number, the result is always zero. This is a fundamental property of multiplication in mathematics.**Universality**: No matter what number you choose to multiply by zero—whether it’s a positive number, negative number, or even another zero—the product will always remain zero.

**A clerk at a butcher shop is 5’10” tall. What does he weigh?**

**Suggested Answer: **

The answer to this riddle is **meat**.

**Explanation**

**Play on Words**: The riddle is designed to mislead by focusing on the clerk's height. However, the key lies in the context of his job at a butcher shop. As a clerk, his primary responsibility would be to weigh and handle meat.**Humorous Twist**: The riddle plays with our expectations by presenting a seemingly straightforward question about the clerk's height, only to reveal that the answer relates to his occupation rather than his personal weight.

**What occurs twice in a week, once in a year, but never in a day?**

**Suggested Answer: **

The answer to this riddle is **the letter "e"**.

**Explanation**

**Twice in a Week**: The letter "e" appears twice in the word "week".**Once in a Year**: The letter "e" appears once in the word "year".**Never in a Day**: The letter "e" does not appear in the word "day".

**Conclusion**

This riddle requires a keen eye for detail and the ability to think creatively. It challenges the reader to look beyond the obvious and find a unique answer that fits the given criteria.

**A woman has seven children, half of them are boys. How can this be possible?**

**Suggested Answer: **

The answer to this riddle is that **all of her children are boys**.

**Explanation**

**Understanding "Half"**: The phrase "half of them are boys" can be misleading. In this case, if all seven children are boys, then it is accurate to say that half of them (which is 3.5, but since we can't have half a child, it implies that all are boys) are boys, as there are no girls.**Riddle Structure**: This riddle plays on the expectation that there must be a mix of genders among the children, but it cleverly leads us to a straightforward conclusion.

**What is so fragile that saying its name breaks it?**

**Suggested Answer: **

The answer to this riddle is **silence**.

**Explanation**

**Fragility of Silence**: Silence is a state of stillness or quietness. The moment you speak or say the word "silence," you disrupt that quietness, effectively "breaking" it.**Conceptual Nature**: This riddle plays on the idea of something that is not physically tangible but holds significant meaning. It highlights how certain concepts can be delicate and easily disturbed.

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