Hi
@mulan0 from what I have encountered so far they tend to be either based on a negotiation, a group discussion, or a presentation task.
- Negotiations: The exercises can have different structures and team sizes depending on the firm, but I think the default one is for you to get around 30mins-1h of preparation time with your team during which you read a brief with background information and client demands, and then devise a strategy based on that (in many cases the preparation part is also assessed by the firm). Then, you normally have around 30-45 minutes to negotiate and hopefully reach an agreement with the other side.
- Group exercises: Normally you would also have around 20 minutes to read a brief the discussion is based on, but this is done individually. Then, together with the rest of the group, you are tasked with discussing a number of options and choosing the best one. I have seen a number of exercises here around M&A and investments, with people discussing which companies would it be best to partner with/invest in.
- Presentation tasks: This is very similar to the group discussion, with the only difference being that instead of simply reaching an agreement, you have to also make a presentation with your findings and recommendation. You would normally have a bit of extra time to prepare, as you need to allocate speaking roles and potentially practice as well.
A common issue candidates have with group exercises, irrespective of the format, is getting enough airtime to express their ideas and show off commercial awareness while also showing themselves to be team players. Since everyone knows that at the end of the day you are assessed individually and that progression is very competitive, many people will simply be looking to speak as much as possible. As such, I think it is good to think in advance of a few ways to ensure your contribution is seen without having to constantly fight over airtime. I'll link bellow a post in which I detailed some of the things that worked for me: