Conducting a smart interview is important for the hiring manager and the candidate. Employers need to assess an individual’s ambition, potential for growth, values, authenticity, weaknesses and vulnerabilities. Candidates need to convey what makes them special and where they want to take their careers.

Reporter Willa Plank posted the five must-ask questions for companies to ask on WSJ.com. Her post is worth reading.

Here are some of my own questions:  What was your biggest setback in your career and what did you learn from it? What was your biggest business mistake and how did you recover from it? How have you changed most over the past few years? What could you say about your leadership and work style that would be helpful to your colleagues?

When it comes to your personal and career development, what skills do you want to build in your next position? What was the most helpful piece of feedback you’ve ever received?  As you think about your next job, what would you like to do more or less of? When do your strengths become weaknesses?

Companies need to figure out how passionate a candidate is about his work. Try asking these open ended questions: What excites you most about business today, about your career or areas of expertise?  What are your greatest concerns about the future?

This is not meant to be an exhaustive list. Tell us what you like to ask when you are conducting an interview, or what questions have surprised you. Sharing war stories is always helpful.