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So as the previous response has said proofreading will involve the usual spelling and grammar. The trickier parts are usually the factual inconsistencies (so let’s say the document says X in three months on the first page then later say X in six months) you have to spot. You’d also be expected to pick up issues with numbering. Proof reading exercises are difficult and if the document is long (more than 10 pages) I don’t think the firm expects you to finish the whole thing. I’d focus on being thorough with the pages you have time to read rather than trying to whiz through the whole thing.

For the drafting exercise, I’d worry less about the format and more about the content. Most firms ask for a simple report or email, what’s really being tested is your analysis and commercial knowledge so really just focus on providing a good analysis of the issues and some solutions as well