Sorry, mock interviews by MBA first year students don't make much sense.

My personal opinion and you are invited to disagree. I genuinely feel these interviews do more harm than good for the aspirants. Any advantage that might flow, flows from these 2 considerations being fulfilled.

1. Does the interviewer have access to the explicit list of parameters that the concerned B-School uses to evaluate the applicants? Last year, there was a post showing leaks of an IIM C(if i remember correctly) panel's evaluation sheet, it had multiple explicit parameters to judge an applicant on. Without this list, it makes no sense to conduct a mock interview.

2. Does the interviewer have considerable experience in taking formal interviews (not only in cracking interviews)? Only some of the MBA first year students with prior HR experience have this. MBA second year students may have taken club/society/committee admission interviews.

Quoting Arun Sharma, "Typically you take a first year b-school student, ask him to take interviews for people going to that b-school...first year matlab, idhar se udhar pohoch gye ek interview kisi tarah crack karke, iska matlab yeh thodi hua ki hum interviewer ban gye. Unfortunately, the advisory is very very poor"

The harm is done when applicants are evaluated on parameters that might not be too relevant now but maybe relevant once they enter MBA. The push towards making a flawless interviewee simply does not work for somebody who has never attended a formal admission interview in their life.

My point is not to disrespect the effort put by the seniors in guiding applicants, but perhaps a narration of their own interview experiences and learnings/inferences from them might serve more efficient value than hours of mock interviews.