UBS Equity Research Analyst interview questions

After a month I received a phone call invitation for an online interview alongside an Excel quiz. The quiz took 30 minutes and contained an optional section on VBA. The quiz wasn't too hard, most problems could be quickly solved with the help of google. Next the interview was audio only. They asked a few basic questions about accounting and financial modeling, nothing complex. Then, again about a month later I had my 2nd interview, again audio only. The questions asked were very similar but slightly harder. After about another month I received a negative response.