I am a hard-working, ambitious individual, who sets high goals for myself and my career… 
Right, you are the only one out of the thousands of applicants to Columbia / Chicago MBA program. Instead of this generic answer, pick something that sets you apart from the pool of applicants, and go beyond the trivial.

I have selected this MBA program because of its great strong name, alumni network, and ranking. 
Schools just LOVE to hear about rankings – isn’t this the best way to measure and select a school and your future alma mater? Seriously, while rankings are important and do impact application trends, you should  be able to list specific components of the MBA program you like, whether it’s INSEAD’s dual-campus option, NYU’s proximity to Wall Street, or Duke’s expertise in healthcare.

I work at an investment bank/consulting company/Private Equity and can’t be promoted to an associate/VP position unless I have an MBA…
While this is true for many top firms, you don’t need to mention it. You don’t want Chicago’s or Harvard’s Admissions team to feel that you’re going for an MBA just to punch the card and move on to your next role – you want to share with them the value you see in the MBA experience.

I don’t really have any weaknesses, but if I had to think of something, my worst weakness is probably that I’m a perfectionist…
When I was at NYU, This was by far the worst answer I got from candidates. No one is perfect, and we all know it. You can share most things with the admissions committee. But don’t be naive – if you share weaknesses that are critical to the success of MBA students (time management, prioritization, attention to detail, commitment) you might hurt your chances. There’s nothing wrong with admitting the areas in which you have room for growth; just make sure you’re not selling yourself short.

I don’t have any questions for you about Chicago/Wharton/Texas/Darden; I found all the information on the website already...
You should always have questions. Otherwise, you come across as a know-it-all, or even someone who is not truly excited about the program.

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MBA Interview Questions

MBA Interview Questions