Trainee Trader Interview Questions

11,668 trainee trader interview questions shared by candidates

The interview started and I was told to not use and pencil or paper. They asked me some squaring questions and some subtraction with large numbers. I was also asked how much I would pay to play a game where I get heads if I win a dollar, and how much I would be willing to pay if I was able to re-flip up to two more times.
avatar

Assistant Trader Internship

Interviewed at Jane Street

4.4
Feb 19, 2014

The interview started and I was told to not use and pencil or paper. They asked me some squaring questions and some subtraction with large numbers. I was also asked how much I would pay to play a game where I get heads if I win a dollar, and how much I would be willing to pay if I was able to re-flip up to two more times.

I did initially misunderstand this question and had to be helped along, but it is fairly difficult to do on the fly anyway: "We're playing a game with an unbiased 30-sided die. Before we roll, we both pick (distinct) numbers between 1 and 30, and then we roll the die. If the number that appears is closer to the number I picked, you pay me, in dollars, the number on the die; if it is closer to the number you picked, I pay you, in dollars, the number on the die; if it is equidistant we do nothing. What's the optimal strategy - do you go first or second, and how do you pick your number? What's your expectation?"
avatar

Assistant Trader

Interviewed at Jane Street

4.4
Mar 25, 2014

I did initially misunderstand this question and had to be helped along, but it is fairly difficult to do on the fly anyway: "We're playing a game with an unbiased 30-sided die. Before we roll, we both pick (distinct) numbers between 1 and 30, and then we roll the die. If the number that appears is closer to the number I picked, you pay me, in dollars, the number on the die; if it is closer to the number you picked, I pay you, in dollars, the number on the die; if it is equidistant we do nothing. What's the optimal strategy - do you go first or second, and how do you pick your number? What's your expectation?"

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