Why EY Interview Questions
How to answer the question "Why EY?"
When you hear EY, you immediately think of Ernst & Young, a multinational corporation providing multinational professional services. In terms of work-life balance, it is a solid company. Their proficiency with various technologies suggests that offering service alternatives are one of their strongest suits.
You already know it is a fantastic location to work if you are seeking an IT job because its major goal is to create a better working world powered by data and technology. Recently, EY was the seven-largest privately owned organization in the US.
They provide several possibilities for you to grow and improve your talents and abilities in your personal growth, which benefits both the individual and the firm. In addition, it assists clients in growing and expanding.
EY employs over 195000 people and has over 750 locations in over 150 countries. EY provides firms with assurance, tax, advising, and consulting services. 82% of EY employees believe their experience has been great.
Use Linkedin and do a lot of networking to speak to anyone you may already know at EY. Always consider speaking to colleagues who have participated in the student programs or with your professor with experience with EY.
So, doing this will support you in getting an insight into individual perspectives about EY, and online research will not provide the information you need. EY generally hires fresher/fresh college students and experienced professionals for various positions.
EY Interview Process
The EY hiring process consists of many steps.
- Online Assessment
- Technical Interview
- HR Interview
Every company’s interviews cannot be complete without these three major processes. The Online Assessment result generally takes 3 to 5 working days to declare. If you're done with the final interview round and waiting for results, that depends on the job description requirements.
All applicants interested in applying for various roles at EY must go to the EY employment portals to do so. There are two employment portals: one for entry-level work for students and one for established professionals.
- Visit the Job portal.
- Lookup for an open position. You may sort based on location, role, and other factors.
- Apply for the role you want.
- If you are a first-time user, you must establish an account or sign in.
- Once logged in, complete the necessary fields in the online form.
- Upload your resume
- There it is.
Online Assessment
Your application is sent to the appropriate department for first screening when you submit it for any vacant position. Therefore, you must accurately fill out all the essential information and submit your most recent CV.
You will get an email with specific instructions to complete the range of recruitment tests required in the recruiting process after the EY screening team determines that you are eligible for their procedure.
These are some of the relevant assessments related to EY
- Numerical Analysis
- Adaptive judgment
- Workplace Personality Test
- Center for Verbal Reasoning Evaluation
- Interview via video
You have a certain amount of time to answer 12 or more questions on the EY online numerical reasoning test. You can take the exam online from home, but you'll need to score at least a certain amount to advance to the next round of the hiring process.
You will need to be able to evaluate information gathered from various sources, particularly tables and charts, in the verbal reasoning test. In addition, you must be able to execute simple mathematical operations, but you only have a minute to respond to each question.
Note
Accuracy and speed are important.
The situational judgment test is the first in the EY online exams. The behavioral exam aims to show EY how potential employees would respond to circumstances that could arise at work.
The Question format will be text and video with 20 questions. Using the exam results, recruiters may determine whether you are a suitable match for the position by learning how you handle problems at work.
Following the second, the personality test will be required to score the descriptions on this online exam according to which ones are the closest to you and which are the furthest from you.
It's important not to allow yourself to select the solutions you believe the recruiters are seeking, as they mostly watch for abnormalities in your answers.
If there are errors, you will be penalized, and your total rating will suffer. In addition, you can't rehearse for this online exam because it focuses more on your behavior and attitude.
However, you must remain composed and work in a calm setting because if you don't, you might not be capable of understanding the answers correctly.
In Verbal Reasoning Evaluation, you may check your reading comprehension abilities— verbal and written—by taking the EY online verbal reasoning exam.
Why EY Interview Questions: Technical Interview
You will attend the face-to-face interview round with the entire project if you have passed the multiple written exam stages at EY. These two interviews will examine your technical knowledge and capacity to adjust to changing work circumstances.
Traditional interview questions, situational discussions, and technical skill tests may all be common questions in technical interviews. In addition, the interviewer often evaluates if your technical talents, knowledge, and skills are sufficient for the position you seek.
They could consider how you approach problem-solving and evaluate how well you’d fit in with the organization’s culture.
Interviews for certain roles proceed with Team Lead, Project Manager, and behavior test with higher officials. There are some factors considered for specific interviews when you attend Technical interviews.
The Fundamental words and skills of accounting that should be familiar to you are:
- Internal Audit
- Legal Documentation
- Statement of Cash Flows
- Ratio Analysis
- Accounting Principles
- Accounting Concepts and Conventions
- Errors in Financial Information
- Financial Statements
- Cash Reserve Ratio
- Statutory Liquidity Ratio
So, these accounting terms are a few topics covered by the questions. Suppose you attend an interview where the role is about Audit Assurance and Taxation. Prepare it well in these fundamental concepts. These concepts imply the most essential and basic component of anything more complex and in-depth.
Certain accounting and financial subjects are addressed in technical questions. This resource is dedicated to technical finance interview questions. Always spend a few seconds thinking about your response before speaking the interviewer’s question out.
Systematically answer each question. This usually implies categorizing replies into points, and even if you don’t know the exact answer, just give the important facts. On the other hand, if you don’t know the answer, Don’t be afraid to admit it.
Note
Show your logic to prove that you have a rational thought process and can handle difficulties even if you don’t recognize the exact answer.
Why EY Interview Questions: HR interview
The HR staff will conduct your final round, usually at the HR Team lead level. This round includes broad inquiries based on your profile, behavioral inquiries, etc.
Every organization conducts an HR interview round to get to know the possible candidates personally after the early stages of candidate selection.
The major goal of an HR interview is to evaluate the candidates' backgrounds, personalities, skills, and shortcomings to determine whether or not they are a suitable match for a certain position.
In other words, the HR round determines if you'll be invited to participate in the subsequent rounds.
These are the general questions mentioned below:
- Tell me something about yourself
- What are your future plans?
- What is your family background?
- Why EY?
- Why Auditing?
- What is your biggest achievement?
- How would your friends describe you?
Remember these pointers before you attend the interview. The very first and foremost thing is recognizing the job profile. You need to know what is required of you by the specific job profile.
Examine the job description to learn more about the company’s expectations of you, the abilities needed, and the qualifications they seek in a candidate.
You won’t be startled if the interview is conducted without any questions about the job description if you have gathered the necessary knowledge about its criteria. Secondly, look over your resume carefully.
Ensure your CV compiles with the demands of the work profile. Check your resume carefully to see if you’ve matched your information to the requirements of the employment profile. Reshape your resume’s sections (skills, education, experience, etc.) are necessary.
Matching your CV to the employment profile of the organization is the objective here. However, you can still emphasize the experience or skills that closely fit the job description, “ even if there isn’t a perfect match.”
Why EY Interview Questions
Ernst and Young look for the following qualities in their employees:
- Respect
- Enthusiasm
- Teamwork
- Academic excellence
- Integrity
- Leadership
Being honest is the finest thing. Attempting to prepare and practice the ideal response will never be successful, specifically by just repeating what everyone else is saying.
Why EY? Is there anything specific from your recruitment process that stands out? Are there any particular people or topics that fascinate you more than others?
Do they participate in any social programs that you find appealing? Any unique employee perks the business offers that assist in setting them apart from the competition?
“Just talk about whatever comes naturally to you.”
Personally, I enjoy discussing EY's culture and how it distinguishes them from the other Big4 firms. However, it would be wonderful to include personal examples to support your claims rather than merely repeating information available on the internet, such as networking with existing workers or attending panels.
Quality matters a lot. As you know, "Character is life,” the company looks deeply into the quality of employees. Likewise, organizational behavior is important and gives you special recognition in the company.
So, now you will go over the EY interview procedure in detail. This employment procedure includes both recent graduates and seasoned experts. The hiring process is quite similar and easy only if you are well prepared to attend big4 companies.
#1 Sample answer
“I spent a lot of years in public and wasn’t a big fan of asking this when I was interviewing. But the best answer I got when I did ask it was, “Why EY?”. Because you guys got me this far into the interview process, and I really want a job in the big 4.
I could tell you all the great things about myself, but the reality is I want a job, I want to start at the top, and EY is part of the top. All the big 4 firms are similar. They’re all excellent, and they would all be a great place to start my career.
But EY was the only one of the big 4 with a recruiting process that saw the excellent skills, personality, and resume I bring to the table. The other three failed this exam, and after the initial interview, they rejected me.
Thankfully, your firm has thus far passed the test, which benefits both me and the business. So if you make me an offer, I'll work hard to support the team and advance the company's objectives. I'm keen to learn and advance in this field, and I think this business is the greatest setting for me to achieve so.”
#2 Sample answer
"I am interested in working for your company because I admire your organizational principles, the past, and amazing track record of success."According to people who work here now, this is an excellent opportunity for me to work for an innovative organization that promotes innovation and progress.
I'm eager to learn and eager to collaborate with other eager and like-minded individuals who have a shared objective. Working for your company will give me everything I am looking for, and if I am effective, I plan to build a long-term career here."
#3 Sample answer
“There are absolutely hundreds of reasons why I would like to work at EY. However, the main draw for me is that you have been assisting businesses for years, and any firm that can develop and exist for that long is impressive.
You obviously encourage your staff to be the best they can be, and I only want a job for an organization that employs the most brilliant individuals.
I want to advance my career with EY, and knowing that so many employees inside EY volunteer around the world each year speaks volumes about your trustworthiness, high standards, beliefs, and ethics”.
Case Analysis at EY
At Ernst & Young, case discussion is the most popular interview style. You receive a business case containing all the pertinent facts and specifics about the organization's choice.
Before drafting your recommendations, you must skim through, analyze, and comprehend various facts to solve the organization's challenges. You will also require a team management plan comprising a working time, individual duties, backup plans, and progress checks.
You may also receive good estimated cases from time to time. Such case studies include the calculation of profitability by assumption. For example,
- Let's say your customer is considering building a petrol station in a large city. What essential details are necessary for you to assess this investment?
- A significant manufacturer of high-end mobile phones is thinking of creating a new, less expensive product line to gain market share. Inform the client whether this plan is feasible and profitable.
- Analyze the event management in a wedding's profitability. What are the main tools at your disposal to boost profitability?
Don't be afraid of it when you are new to case studies. Just talk about the issue. Then, take a pause and give yourself some time to understand what you have been missing if you cannot understand it.
Get innovative if you run across trouble. Avoid becoming overwhelmed and rely on your creativity.
Note
An essential factor of the case interview is grasping the company's challenge and purpose. The easiest way to lose a case interview is by not responding to the proper business question. Therefore, clarify your inquiries to better understand the problem and business position.
After that, ask the interviewer if you clearly understand the case goal. This guarantees that you appropriately begin the case.
Why EY: Behavioral Questions
This evaluation is similar to the System Suitability Test (SST) in that it offers work-based situations likely to occur throughout your time working with EY. In addition, it assesses soft skills such as response to a certain Circumstance and capacity for teamwork.
Behavioral interview questions aim to understand your personality, thought process, and problem-solving style. Your responses to these behavioral questions can help the interviewer determine whether or not you would be a good addition to the existing team.
You can choose a few particular instances from your CV to use as examples of leading, strengths, limitations, communication, problem-solving, and more to prepare for these financial analyst interview questions.
You don't have to remember the answers, but you need to know what experiences you would discuss and how you would put them over to the interviewer.
The interviewer wants to know more about you, but you must present yourself best. So take some behavioral questions for Financial Analysts Interview:
The very first thing you ought to have is preferences. Which company in the city where you are interviewing has the best clientele is where you should place your choice.
If you audit customers like Google or Macy's rather than unknown businesses, the Big 4 will help launch your career and improve your portfolio.
The easiest way to conduct this research is to Search the top 10 businesses in your city, then look at their financial records to discover who audits them.
During the interview, you may state you are the greatest employer because you have the best clientele you want to work for and with the best.
Second, you must use: "the people." There is no question that you have spoken with several EY employees if you have had an interview.
You may then state something to the effect of, "I really connect with the EY folks, and listening - I know this work is difficult, so if I can accomplish it and do it effectively.
I wish to do it with individuals and in an environment that will spend time to instruct me and that I can enjoy." in the interview.
You can also include that the US branch of EY serves more companies in the Standard & Poors’ 500 than any of the other big four firms combined. In the UK, they serve as many clients as PwC but fewer than Deloitte.
Creating a better working world is EY's mission. As a result, EY has moved into additional professional services like the other four major companies.
EY is now directly competing with firms like Accenture, Capgemini, and IBM after recently being declared a worldwide leader in digital business transformation.”
As you're getting ready for an interview for a financial analyst position, you should review possible inquiries that an employer could make about your professional objectives, understanding of the field, and degree of expertise.
You must know about the tools for financial modeling, Corporate finance, and how to use spreadsheets in Excel. In addition, you may portray yourself to a hiring manager professionally and knowledgeably by preparing responses before the interview.
“I want to work as a financial analyst because I believe the position fits my personality and skill set. I've always been exceptionally good at math and could identify patterns in data that others missed.
I enjoy using a computer for work, and I'm typically captivated by the stock market and a company's cash flow.
One of my best skills is my attention to detail; thus, I am confident that I can perform well at work and significantly assist management with my analyses. I believe that this work is the finest option overall.”
Modern businesses have procedures and analytics in place for everything. No matter the position you apply for—financial analyst or any other role you will be considered. In your profession, there will always be a few objectives you must achieve and a few deadlines to meet.
To reach the highest degree of performance at work, it is customary to demand more of employees constantly and pressure them. Working under extreme stress is an unavoidable part of life. Pressure motivates us to do incredible things for causes that others care about. It brings out the greatest in us and pushes us to the highest level of our ability.
However, the outcomes of this strategy are really dubious. Heavy workloads cause many workers to burn out and leave the company as a result.
Example No 1: “My professional experience taught me to perform well under pressure. I employ a few techniques to keep focused when I start to feel anxious at work. I start by learning to accept the circumstances.
If I have a tight deadline, I try to complete my work by prioritizing my most crucial duties. Being flexible enables me to manage pressure fairly effectively, in my experience.
Finding a positive mentality is a different tactic I employ. I make an effort to view every obstacle as an opportunity. This keeps me inspired and eager to take on more challenging things”.
Example No 2: “I do well under stress. I've had several demanding positions and have developed my ability to adjust to various circumstances. For instance, our deadlines often changed while I worked in the publishing business.
We frequently had less time than anticipated, leading to difficult situations. Rather than becoming agitated, I prioritized my job and focused on what I needed to complete.
In reality, I changed how I thought about it such that it appeared to be an exciting opportunity rather than an impossibly difficult task.”
No matter what project you choose to employ for your response, try to keep your attitude upbeat. Although some initiatives are more successful than others, it is preferable to highlight the advantages.
Humility is a valuable characteristic in many circumstances, including the workplace. Nevertheless, a job interview aims to persuade your interviewer that you're the best candidate for the position. So begin by appreciating what makes you unique.
You can talk about specific leadership, organizational, or management lessons you learned from the project.
“There is, in my opinion, no such thing as the finest or worst project. You can sometimes achieve your ambitions; other times, you can't. The result is never completely in your control, in the end.
Each project is affected by market changes, competitor actions, and team members’ performance. I just view every effort as a learning opportunity rather than a success or failure.
I give my work my best effort, but I don't often think about my accomplishments or failures. Each project I worked on was excellent because it enabled me to advance and improve at what I do.”
Hiring managers will be pleased with your response if it shows that you gave it your all, went above and beyond, or taught a valuable lesson.
It doesn't matter if the project is a seminary project, a modification from previous employment, or a significant undertaking with a budget in the millions. Your mindset is more important than the specific project or circumstance.
During an interview, a hiring manager could inquire about your prior work experience in challenging conditions. It's crucial to respond honestly while describing how you overcome the difficulty. You may make a positive impression by knowing how to react when a recruiting manager asks about challenging scenarios you've faced.
"While I was working for a financial business last year, I had a customer who needed investing advice. I gathered information on the equities they were considering, combing through historical data and 12-month patterns to identify the most promising returns.
My boss was quite delighted with my research, and the customer was pleased with the results."
If you worked as a manager, you could say, "Before I offer any suggestions for their approach to a new customer, I first examine a collection of facts. This information includes their most important clients, major sales channels, and current analytics.
One of the essential decisions a leader, project manager, or team member can make is to carry out a plan. Nevertheless, when it comes to projects, things hardly, if ever, go as planned.
Mostly, I use a formula to guide my assessment and assist me in providing the best possible strategic suggestions."
Even if it might not be your favorite topic, talking about past errors is a fantastic method to demonstrate your capacity for development and learning. For example, an employer could ask about your prior work blunders during a job interview.
You may demonstrate to potential employers that you can manage a range of scenarios by being ready for this type of interview question.
“I remember when I first started working here. Due to my confusion with fiscal years, I performed a flawed cash flow study.
The recommendations I made to my employer, who also happened to be the company's CEO and my immediate supervisor, were dreadful.
A few thousand bucks were gone. They were angry, and I was unhappy, but finally, I learned my lesson, and since then, I have always double-checked the letterheads.
I know that a mistake might have serious consequences for my career. Thus, I would check everything twice and try to get everything right. But, as this is my first job application, I have not yet made a significant error.
I did, however, make many mistakes in my personal life, but everyone makes mistakes, and you are probably not interested in hearing about them now.”
Workplace stress is an inherent part of the modern working environment. You may get over the sense of being overburdened at work by using the appropriate stress management strategies and tools. Understanding effective stress management techniques can help you achieve a better work-life balance and boost your well-being.
"I find that I work most effectively when I have several assignments and deadlines at once. I take care to organize my schedule so that I can manage my time and energy effectively.
I had a presentation, three final projects, and three final projects due all at once last semester. I was aware that to position myself for success, I would need to be vigilant at every moment of the day.
I made a weekly schedule that specified the amount of time required to finish each project, rehearse the presentation in front of my peers, rest, and exercise.
The fact that I had everything planned out reduced unneeded stress and allowed me to concentrate on execution, which was the most thrilling aspect.”
Evaluating and identifying areas where one needs to grow or develop further is critical.
A viable strategy for answering this question would be to mention a particular shortcoming or obstacle you have encountered in the past and describe how you overcame it. Again, it's crucial to avoid painting this setback as a permanent or insurmountable impediment and instead frame it as a chance for improvement and progress.
“The fact that I cannot delegate tasks to team members is one of my biggest flaws. I take on too many initiatives and obligations because I want to handle everything independently.
I eventually find myself running from north to south alone since I have a lot on my plate. For instance, as the captain of the college football team, it was my responsibility to plan a competition between the colleges.
I made all the preparations by myself, leaving very little to be handled by others. I eventually understood that in addition to exhausting myself, it also made my teammates feel untrustworthy.
I started delegating when I realized how important it was and have been doing it ever since. I created plans and charts with tasks allocated to people and won back my staff's trust. I hope to do the same when I work for a reputable company in the future.”
Why EY: Technical Questions
Technical types of questions are used to evaluate how well you understand the fundamentals of finance. Hiring managers inquire about their educational background to evaluate candidates' readiness for a particular position.
Employers must understand how each candidate's background, achievements, and credentials are important because technical occupations are frequently highly specialized.
Hiring managers look into your technical training, education, and experience details. They do it to confirm your credentials and gauge how effectively you can explain complex technical ideas. How you respond might also reveal how you imagine and function to interviewers.
Technical interviews can take on a variety of forms. Therefore, you should consider the many approaches and strategies you might employ to provide a satisfying response when figuring out how to prepare for a technical interview.
If the interviewer asks, “Describe a time you made a big mistake and what you did to fix it.”
It might be challenging to recall an instance from your history that can serve as an example. For instance, if you have to talk about a mistake, it shouldn’t be too severe or harm your character.
Your chances of landing the position will suffer if you have any stories involving lying or confidentiality violations. However, if you must discuss a mistake, you may demonstrate that you performed honorably, accepted responsibility, and fixed the problem.
A sincere response may help establish your trustworthiness. Every day, mistakes are made at work. Of course, we all make errors, but what matters the most is how we deal with them.
Take an example of a technical question for a Financial Analyst Interview:
So, answering this question should be, “Yes, there are two examples:
Even when a firm is in trouble, it will initially exhibit positive cash flow if it is selling off goods while postponing payments.
Although a company's revenues were excellent throughout the period, future projections indicate that revenues will drop.
By defining such circumstances, you indicate that you are not looking at the cash flow statements but rather are concerned with where the money is coming from and going to and marking all the areas where the organization is generating or losing money.”
There isn't a certain measure. Instead, it relies on how you phrase your response and convinces the interviewers of the importance of the particular parameter you bring up.
The main goal of this question is to assess your capacity for critical analysis and logical reasoning. By responding to this question, you can demonstrate your aptitude for seeing the potential benefits and drawbacks of the given investment possibilities.
“Technical analysts typically utilize the charts below to examine the stock price, which serves as the foundation for choosing the best one:
- Line diagrams - track daily movements
- Bar graphs - tracking periodic highs and lows of stock price
- Point graph - determine stock momentums.”
In an interview, a candidate may respond to this query by stating that cash flow (CF) is the total amount of cash produced or used by a firm during a specific period. Therefore, regardless of size, capital structure, or type, every company organization needs cash to operate efficiently.
Without appropriate funds, the company will most certainly be unable to meet long-term and temporary promises, perhaps leading to the company's demise. The calculation of CF involves totaling up all cash inflows and outflows, including receipts and payments made for purchases, costs, investments, and financing operations.
Whether the firm is making more money than it is spending, CF may be either good or negative.
“Free cash flows (FCF), which determine a company's current value, are the funds left over for investors after accounting for cash operating and investing expenses.
Cash flow, on the other hand, is used to determine the net cash inflow from the company's fundamental operations, including operating, investing, and financing.
Because it considers capital expenditures and variations in net working capital, free cash flow aids in determining firm value, which is necessary for investors.”
Avoid sticking to a single program while responding to this technical finance interview question. Instead, you can list the different software applications you've used to create reports.
Explaining how one application is used in preference to another is the best method to respond to this issue. In response to this question, “ Microsoft Excel provides statistical and analytical references, you may declare that you prefer it.
In Excel, this spreadsheet tool comes with several different chart and graph kinds that may be adjusted to meet your needs. Like Excel, Google Sheets offers a variety of chart and graph choices that can be made and modified right inside the software.
Tableau is a tool for connecting, analyzing, and sharing data that enables you to communicate data in a way that improves decision-making. Technical drawings, graphs, and charts can be made using Adobe Illustrator, a vector graphics editor.
MATLAB is a numerical computing environment and programming language that contains tools for generating and displaying data in a technical setting.”
Show that you are willing to utilize whatever software the organization chooses, regardless of how many programs you have used.
One of the most important questions for a finance interview is this one.
All financial transactions are initially documented in the journal, which is a book. Then, there is a ledger with specific accounts pulled from the previous journal. Journals are the unfinished volumes that are essential to creating the ledger.
This leads us to our second conclusion: if you create a journal incorrectly, your ledger will likewise be defective.
However, in this case, the recruiter will inquire about your background knowledge as this is directly or indirectly related to the Financial Analyst job function described below. Answering this question,
“Two essential accounting instruments used by firms to record financial transactions are a ledger and a journal. The amount of information they provide about each transaction is what distinguishes them most from one another.
A diary is the first location where all financial transactions are chronologically recorded. The date, the banks involved, and the debited and credit amounts are all included in the journal entries. It is an exhaustive list of every transaction, arranged chronologically.
Conversely, a ledger is a group of accounts that includes a summary of all transactions connected to a certain account. The initial balance, any transactions impacting the account, and the final balance are all listed for each account in the ledger.
Businesses may follow the financial activities of certain accounts over time by using the precise records of transactions that a ledger for each account offers.”
Conclusion
WSO provided you with the whole EY interview procedure in this article (Ernst and Young). Feel free to reach out to us if you require clarification or if you have any questions. Go to its official website to learn more about EY and its principles.
For passing the EY employment process, WSO provides practice exams and interview preparation courses. In addition, you will receive sample tests, study guides, simulated interviews with top individuals from the consulting business, an evaluation of your resume, and much more.
Learn about the interviewer, which means ask if you aren’t told who you will meet with during the interview. Learn the responsibilities of each interview in the organization and prepare some questions customized to each of them.
You might enquire about their responsibilities, talk about recent developments in their industry or bring up a hobby they share outside of work.
Improve your verbal, math, and critical thinking abilities. These abilities are necessary for employment at a company like EY. You can finish your exams and assessment center tasks quickly if you brush up on these abilities.
Utilization of time. Throughout the EY hiring process, you will take a lot of structured quantitative exams. You can respond to each question precisely and fast if you practice beforehand, improving your chances of beating the time.
Fill out behavioral surveys truthfully and frankly. The key to passing this kind of test is understanding how to respond to specific behavioral questions while being loyal to oneself.
WSO’s very own consulting interview guide can be found here if you still need further materials to prepare for consultancy recruiting.
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