Investment Banking Analyst

I applied for the position through their website and a few weeks later I received and email requesting a phone interview for their Consumer Investment Banking Group. I was given a set of times to choose throughout the interview week. The interview times were all in 30 minute blocks. The phone interview was with two current analysts and it was mainly fit questions with a few technical questions mixed in. The fit questions were the usual type questions, like walk me through your resume, why BB&T, why are you interested in the consumer group, etc. The technical questions were basic questions like what are the three sections to a cash flow statement, what are the major lines on an income statement. However since this was my first IB Analyst interview, I was tripped up with they asked me how does a $10 increase in depreciation flow through the three financial statements (I couldn't remember how to make the balance sheet balance). The final question was what do you know about LBO (Leveraged Buyouts) valuations and the LBO process. I did not know much about LBO valuations (one of the interviewers told me that performing working at BB&T he didn't know anything about LBO's as well) so they asked me to tell them what I knew about LBO's in general. The final question was whether I had a preference for their Boston or New York office. I was then asked if I had any questions for them and then the interview ended after they finished answering my questions.