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A Practical Guide To Quantitative Finance Interviews

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A quantitative (quant) interview is designed to help the interviewer understand how you think, and may include specific industry references including financial terms, economic theories or established mathematical models. Interviewers assess these skills through computations, logic problems and brain teasers. What traits are firms seeking in quant candidates? Each person has incomplete knowledge. But they don't know anything about the state of the other's information. Learning this is new information.

If the month was Mar, Sep or Dec, then M would still not be able to work out the birthday by eliminating the 2s and 7s. If you rarely program in C/C++, start with C++ Design Patterns and Derivatives Pricing. This is by no means a complete introduction, but it gives you an overview of the language. Heard on the Street is a classic Wall Street interview Q&A book. Many of the questions you will hear in real interviews will have been "borrowed" or modified from this book. In fact, many interviewers want to see that you've done the necessary "grunt work" just by reading through it! The book contains five main sections - Quantitative/Logical Questions, Derivatives Questions, Financial Economics Questions, Statistics Questions and Non-Quantitative Questions. Each of these five areas is incredibly important for the aspiring quant. The questions are by no means straightforward - there are some particularly challenging statistics and quantitative questions. Make sure to study this book thoroughly before taking an interview on the 'Street. 2) Frequently Asked Questions in Quantitative Finance - Paul Wilmott Based on my experience working and interviewing with these firms, I made a list of resources and some interview tips to help students prepare for Quant and Finance interviews. Many prop trading(eg KCG, SIG) , quant trading(Two Sigma, Jane Street, WorldQuant) and market making focused firms (Optiver, IMC, Flow, Akuna) follow this pattern.Please note, the pattern of interviews may change with time, it’s recommended to do your due diligence about the companies you are interviewing with. Math/Logic/Numerical tests: Your interviewer will provide instructions to either take time to work through a problem first and then share your solution, or to work and explain your rationale as you go. In either case, you should be mindful not to get hung up on terms you don’t know or calculations you can’t compute. Instead, communicate what you are thinking and why.

How should I prepare?

comments on the usefullness: 5 for high frequency or algo trader/researcher, pricing quants (model validation roles), start arb strategists. Try writing C++ using only objects. Templates are nice to have as well. Use Design Patterns whenever you can. I don't know the real birthday: How can I know for sure that C doesn't know the real birthday? Well I know the month. If I were told the month were December, then the options are Dec 1, Dec 2, Dec 8. In which case, C could know the real birthday, which violates the bullet point above. So I can't have been told December is the month. Same logic goes for June. Many quant interviews and big tech interviews have been known to ask estimation-based questions. These include ‘how much should you charge to wash every window in Seattle’ and the like. There is an abundance of questions available online for practice. These will be the final and lowest priority aspect of my interview prep.

Optiver: Their first step is 8 mins , 80 questions MCQ math test made of simple arithmetic questions designed to assess your mental math speed and accuracy. D can now work it out. He knows that M would still be uncertain if Mar, Sep or Dec. The fact M's worked it out means it must be June. D already knows the day, of course. Quantitative Portfolio Management (Incredible book with interview questions scattered throughout which will also give you a highly developed ability to discuss statistical arbitrage and explain most of the core quant finance topics relevant to hedge fund/ asset management)

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Here is a short but interesting article on Expression Template that examplifies some basic usage of C++ templates. I'm reading an interview book called A Practical Guide to Quantitative Finance Interview by Xinfeng Zhou and I cannot make sense of the solution provided by the book, so I really appreciate your advice. A preliminary quant interpersonal interview is typically 45-60 minutes, and may be in person or virtual. For in-person interviews, you may be handed a pencil and paper or markers for a whiteboard for your calculations. For virtual interviews, you might work on a shared virtual whiteboard or Google Doc.

Organizations hiring for analytical roles seek candidates with logical reasoning processes, exceptional computational skills and strong statistical abilities. Because such organizations often operate at a fast pace and the decisions staff make can have far-reaching economic and financial impacts, interviewers seek to assess an applicant’s mathematical mastery, critical thinking skill and creativity, as well as the ability to perform under pressure. What does a quant interview look like?Solid state physics Quantum theory Chemical bonds SCIENCE Physics Condensed Matter Física do estado sólido Mecânica quântica Many companies like Optiver, IMC, WorldQuant like to do math or logic tests as their first step. The pattern varies by company, but the idea is to test your logical abilities. If the birthday would have been in June or Dec there would have been a chance that day-knowing C would have known it, because there are unique possible days-of-months in the list for possible birthdays in those months (Dec 2 and June 7). The only way the month-knowing person referred to as "you" in the problem could know that there is no chance for C, is that the months are neither June nor Dec. I expect the calculus and linear algebra review to go smoothly. I recall most of this content so the preparation process will simply entail solving the questions from the prep book and actively seeking tough questions from my old textbooks. Materials

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