Optiver Trading Numerical Test
Hello,
I applied for this position and got invited to take the numerical test. It is said to have 80 questions. Has anyone ever taken this one? What kinda questions should I expect and how can i prepare for this?
Thz a lot!
Optiver Trading Math test
Optiver is another firm that has become infamous for its difficult numerical tests. The only way to prepare for such a test is practice. Unless of course you are a extremely gifted in math. So lets take a look at the test format and scoring system.
Test Format
The numerical test is given once via the computer for the first round and again in person during the third round.
- 80 questions in 8 minutes
- Multiple Choice
- Passing Score: 65 out of 80
- Scoring
- Correct answer +1
- Incorrect Answer -2
- Skip -2
An example of a question would be as follows
15/25 / ? = 14/35
A) 3/5
B) 63/30
C) 14/15
D) 9/6
One certified user reported that he was given more than a mental math test.
from certified hedge fund user @jargon223"
It wasn't simple mental math at all. I got logic and IQ-test-similar questions, algebraic word problems, and problems where I had to draw a given shape on a piece of paper and perform instructions as given (like turn it to the right 90 degrees, flip it over from the right side, etc). This was all timed questions, too.
Beyond these two possible formats there is also logic/reasoning test in the third round.
user @lebron"
I passed the Optiver tests and got to the third round, so I can give you a few insights. Every question was followed up with a confidence measure. They want to see how sure you are of your answer, and also how much you know you don't know. Every question I got was open ended/unsolvable, unlike some trading interviews where you can use mental math and conditional probability tricks to get a concrete answer.
An example of a question I got is you have a dartboard, circumscribed within a square. The square's dimensions are 10"x10". The circle is split into 20 equal sections, and each is marked with a number alternating from the low end to the high end of interval [1,20], so 1, 20, 2, 19, 3, etc. Also, inside the center of the dartboard, is another circle 1" in diameter. This is marked 50. So you have 21 sections with numbers in them, these are your point values (payoff in dollars), and the area outside the circle but in the square is worth 0.
-What's the EV of the game?
-What's the optimal strategy?
-If I let you rethrow your first throw at the cost of $1, will you take it? What if you have 2 rethrows?Stuff like that. That was actually a simpler question because at least there was a semblance of a framework you could use. Other questions were completely unanswerable with any regular probability techniques - the interviewer repeatedly stressed he wanted to hear my thinking, not the answer.
If you're looking to prepare for your interview, JobTestPrep has everything you need to know for Mathematical Reasoning Test interviews, including a myriad of questions with thoroughly explained answers.
Recommended Reading
Had a bud who took it. He said this site offers a realistic idea of what the test is like. http://www.tradertest.org/
Cut off score of 55 points. 1 point for every right answer, -2 points for a wrong answer, and -2 points for a skipped question. You have 8 minutes for the test to complete. It is a multiple choice test and you can practice it with the website CA provided.
actually its a point for every question answered, right or wrong, and you're correct -2 for each wrong.
so basically its number correct minus number wrong.
Is the math or the sequence test more similar to Optiver's actual test
It's mostly the math stuff but some sequence stuff might appear
The fact that Optiver still uses this test shows exactly why they have been sucking. Don't mention that you are in trading to someone that works at Optiver, they beg for strategy tips.
disagree with first point. can't say about the second one.
agreed to above, they are told to go to the social events here (amsterdam) and find out where you are making your money and report back. Nasty culture.
Just took an online test, it didn't display my score though. How long does Optiver usually take in getting back in touch with applicants?
When I took it they got back to me the next day. If you felt good during/after the test you're probably good. Optiver kind of sucks though, I just finished up their recruiting and took another offer. Their office isn't a fun/exciting place to be
For the tradertest site, is the easy and medium more relavant? Hard seems super duper hard
this is a hard test
Optiver Trading? (Originally Posted: 08/27/2008)
Does anyone have any information on Optiver Trading? Specifically their 8-min math test? Much Appreciated.
the 8 minute test is pretty intense. a passing score was 65/80. the test is also written in european notation, meaning that what would normally be 5 divided 2 will be written as 5:2.
the math itself is very very easy. stuff that anyone could do given enough time. but during the test you have 6 seconds basically per question...
also, i know of a few of my friends who passed (barely) the test but did not get interviews.
check out this http://elitetrader.com/vb/showthread.php?s=a8cfd00e680f0c0f73712470e5e8…
Optiver trading is amazing. they paid a first year analyst 750k, he was quant
That number is ridiculous but in 2008 the Optiver guys did absolutely crush it. I know quite a few guys in their late 20's/early 30's who worked at Optiver during that period and are now semi-retired.
http://online.wsj.com/article/SB121691355694581289.html?mod=googlenews_…
so what? if people didnt apply to every place that got into some legal trouble, people wouldn't be applying to nearly all the banks (treasury fraud), SAC, Citadel, etc.etc.etc.
I have posted some tips here : http://get-that-job-at-google.blogspot.in/2012/12/optiver-tests-some-ti…
Posted the questions asked in their subjective test : http://get-that-job-at-google.blogspot.in/2013/01/optiver-math-test-obj…
slightly spurious numbers around here about Optiver (that 750k seems off by a while, given what RenTech and JSC pay their first years). They're certainly very good at what they do, very cutthroat business model and huge budgets. Culture may not be for everyone though. They tell their employees to attend finance social events (clearing bank and exchange parties) and find other traders, find what they're trading and how the profits are in that area, and give neutral answers if asked the same thing back. I know many will see nothing wrong with this, but the culture is very aggressive there, and best of luck being promoted high up if you aren't dutch. However for a resume builder and solid trading tuition and experience, they're good.
Certainly having their market share competed away at tho, either by ex employees (Tibra), while still having colossal overheads. $100m IT budget. Keeps their stuff fast, sure, but if volumes are down, you're not getting the return you expected.
I did the 3 Optiver tests a while back, based in a Hotel in Canary Wharf - as everyone knows, 80 questions in 8 mins a large % of which was ABxCD=?? difficulty questions, negative marking for wrong answers. Pass mark was 65 (or maybe 60) but there was flexibility, I only got 57 and was let through to the next 2 tests. 2 out of 15 or so of us got through the barrier test but we both failed the next 2 tests. The 2nd test consisted of some very tough and time pressured sequence questions and the final test was more complicated questions with a hard cut off. The HR woman seemed a lot nicer than those at Tibra although doubt that is any indication of wider work environment.
Subjective Math questions of Optiver : http://get-that-job-at-google.blogspot.in/2013/01/Optiver-math-test-subjective-questions.html
Optiver Numerical Test (Originally Posted: 09/19/2008)
Has anyone taken the Optiver numerical test? The main page just says a series of basic math calculations. The test is supposed to last for 8 minutes.
If anyone's taken this before, I would really appreciate an overview of what its like. Do you need to bring a calculator?
//www.wallstreetoasis.com/forums/Optiver-trading
Optiver Math Tests (Originally Posted: 01/15/2013)
Do checkout and comment if you have any feedback!. http://get-that-job-at-google.blogspot.in/2013/01/optiver-math-test-obj…. These are the questions asked in optiver's subjective test.
Also, posted the subjective questions here : http://get-that-job-at-google.blogspot.in/2013/01/optiver-math-test-sub…
Optiver's Numerical Test (Originally Posted: 11/20/2013)
Anyone else take it?
It was 80 questions in 8 minutes. I did about 40, probably got right around 35?
Anyway, I was rejected- wondering how everyone else did
i think pass mark is 52-56 or something? so not too far off,considering negative marking
you need to get 60 points to pass, so only finishing 40 is definitely on the low end. note that if you do pass the test online, you will have to do one again in person, so if you can't get 60 correct sitting behind a computer, its going to be much more difficult with the added pressure of doing it in person.
You need to practice before taking these tests. I honestly think i could have done better in 4th grade then I did when I was a college grad.
The way it works is they give you a point for every correct question up until question n, where n is the last question you have attempted, and you get -2 for every question that you skipped or got wrong up until question n. You do not get marked down for skipped questions after question n. Pass mark is around 60.
How complex are the questions? Decimals to how many places? Compound or single operations? +/-/*/% ?
How to prepare for Optiver? (Originally Posted: 01/07/2014)
I just received an email from Optiver and they are allowing me to take the Optiver numerical test. I know that it is one of the hardest test around. I am wondering if any of you can advise me on how to best prepare for this? Thank you in advance.
Even I am curious. Please help!
This one helped me:
http://arithmetic.zetamac.com/
Set it to 60 sec to be realistic
It has 80 questions for 8 minutes. An example problem would be 0.014*0.0004=? You will have to do this in your head and be able to replicate the results on site. I think you have to get 60% right to move on.
1st round: online test(need to get over 60 I guess?) 2nd round: hr interview 3rd round: trader interview final round: two math tests(one is the 1st round test but onsite to make sure u didn't cheat on the first one), some simulations, three more interviews.
Hey, I am going to the final round this week. Can you share me some more information about simulations and the three interviews? In the email, they mention about two tests (are they all like the online 8 minutes thing) and culture, behavioral and technical questions, they did not say about the simulation.
Thank you so much.
tradertest.org will prepare you well. I went through all phases of Optiver recruiting, including the numerical test, and was given an offer. tradertest.org is basically the same thing as what the test will be. It will be a bunch of 0.014 / 1/2 = ? questions. You will know if you passed it right after you took it based on how you felt during the test.
Hey, I am going to the final round this week. Can you share me some more information about simulations and the three interviews? In the email, they mention about two tests (are they all like the online 8 minutes thing) and culture, behavioral and technical questions, they did not say about the simulation.
Thank you so much.
@Sling Shot, when you say set that link to 60 seconds to be realistic, what score would you be shooting for?
shoot for low 30s - the math here is easier than the ones on Optiver's test (jojome nailed it above)
http://tradertest.org/
Optiver Interviews (Originally Posted: 09/25/2014)
What sort of questions/ brainteasers can your expect going into the final round of technical onsite interview?
Protip, Udit - don't use your real photo on a question such as this.
good call
Best Way to Prepare for Optiver Test (Originally Posted: 09/26/2014)
Supposed to be getting an email with the registration link soon, not sure exactly when but thats what I was told today.
I know it's 80 questions, 8 minutes, mostly arithmetic, some sequencing. I'm just looking to really get my sharpness up with more obscure decimals, something like 47.08 / .09 - or something like that. I know there's a few people out there who have solid methods for doing these quickly, anyone have a favorite way to prep? Would love to get stuff like this in the 6-second window you'd need to average.
Thanks in advance.
is this for the Chicago office?
Yeah it is
Prep here: http://arithmetic.zetamac.com/
Whats a good score?
You wouldn't get questions like 47.08 / .09, but you may get questions like 0.225 /15 The tricky part is you must be FAST, i mean VERY FAST in doing fractions. The fractions are rarely reduced to simplest form.
Try tradertest Dot org. Google. Google. Google.
An example question would be
25/35 + ______ = 14/49
A. - 5/2 B. - 35/15 C. -12/28 D. -11/49
~ I have passed all 3 tests so this is valid first hand experience
Thanks, very helpful answer. I know lots of great tricks for non-decimal numbers, and frankly am fast enough to not be worried. But weird decimals would trip me up. I've been on trader test and their "medium" test has a bunch of shit like what I described, not impossible but enough to eat up that 8 minutes very quickly.
This is the first I've seen that it's multiple choice, are all answers like that? Guess that helps a bit.
Just a couple other questions, as I was typing this I just got the email with the test link. I'd like to take a day or two in order to just get my head right and make sure I'm ready to go. Do you know if they have a preference on how quickly you complete it? Also, when you take the test in-person, how much of a variance do they look for? I'm assuming the 2nd test is just as easily a deal-breaker as the first one.
Thanks again.
Was not clever enough to read the whole discussion before asking questions, sorry.
Thanks for the information though!
Just a quick update in case anyone is looking for some advice.
Did not pass the test, unfortunately. Trying to move on, however it is rather frustrating. None of the questions are that difficult, but some will take longer than others.
Many places it is reported that the scoring is +1 for every right answer, -2 for every wrong, and -1 for every skip. They must have realized that -1 for a skip made it too easy, as it is now -2 for every skip.
The biggest mistake I made was spending too long on a few problems and blowing through my time. There were many that were very easy...to the point where the hardest thing is just moving your cursor over the answer and clicking as fast as you can.
The format is as described in the above posts. The decimal problems are very easy, if you can move decimal points around you can finish them in only a couple seconds. The non-fraction, non-decmial problems are extremely easy. Things like 25+5, 51-8, stuff like that. I did seem to notice that a string of easy answers was always followed by one very time-consuming question.
The "hardest" problems were the non-simplified fractions. For example, you might see 8/14 + X = 34/28 or something like that. And the answer might be given in a non-simplified fraction with a third, different denominator. I had several like this, and each time I took far too long to get the answer. I think I was far too worried about the -2 for wrong answers, and wanted to make sure I was correct. However, it really ruined my chances. Many times, the answers will all be very close. When they are given as non-simplified fractions, they make sure to list all answers that at a glance look correct, probably to make sure you're actually doing the work.
One thing that I do think helps with strategy is taking it as a 55 question test. I have heard instances where they took someone with as low as a 48, but 54-55 seems to be about the highest minimum score I've seen. And since all questions not answered after you run out of time don't count, it only makes sense to get to 55 and then take your time with each additional question. To finish all 80, you'd need to spend an average of 6 seconds per question. This is doable, but very hard. If you're trying to burn through and hit all 80, you're going to make a mistake. Get to the minimum and then breathe. Hell you could probably just get 55 right and then just walk away. You should not have to guess, and don't do that. If it was still -1 for skipping, I'd recommend skipping maybe the 2 or 3 hardest ones in order to get to some easier questions that you can answer quickly and correctly...but since it's -2, I'd focus on just being fast and accurate.
Sorry for writing a book, just wanted to share my experiences and thought process going through this. I definitely should have done better, but that's life. Good luck to anyone else who is scheduled to take this at any point in time.
how long did it take you to find out your score? I just took the test yesterday.
Your comments really helps a lot, thanks bro.
Be warned: I took the test, studied hard on mental math and thought I was set.....took the test and guess what? It wasn't simple mental math at all. I got logic and IQ-test-similar questions, algebraic word problems, and problems where I had to draw a given shape on a piece of paper and perform instructions as given (like turn it to the right 90 degrees, flip it over from the right side, etc). This was all timed questions, too. And yes, I failed it, though not by much.
I did this test online. They sent me a link where I could take it. I also had a friend take a test from them just 2 weeks prior, and he confirmed it was all mental math just like I'd read online, but apparently they mix it up.
Hey, does anybody have any idea abou thow to prepare for the sequences and series(number pattern) test for Optiver ..any book or any website.
Thankyou
I still have this test in my inbox and haven't taken it.
You'll hear within 2 Business Days tops.
Also, anyone still in the recruiting process should take the test ASAP. (Best friend just signed and said there are just a few spots left.)
zetamac is not a good preparation for testing. It can be useful to get into shape in the beginningbut later try tradertest or calculationrankings which is the closest to real testing
Hey i have a online test scheduled in a week. Can we skip a question and come back later to answer it or is it an adaptive test?
you will not have time to skip and come back. I passed the online and first phone interview. I have the technical phone interview tomorrow. Does anyone have any tips for it that has gone through it?
Even if you were a computer and could skip and come back...you can't if I remember correctly. You must do them all in order.
@"gwu3" I would imagine you should know some basic stats and probability stuff, as well as being ready for some brain teasers as far as I've heard from others.
I don't think you could go back either. Like i said though if you have time to go back you probably already passed.
@PeteMullersKeyboard I have read so many mixed things I don't really know what to expect. The Amsterdam one seems to be different from the Chicago one. I've heard of people getting super technical ones and ones that were very basic options info.
I didn't have the time to take it immediately (had some family health issues). I emailed them and they didn't respond. Took the test and got to #70 and only got 3 of them wrong and I didn't get to the next round. Akuna gives a 2 week time span to take the numerical test so I believe Optiver is the same but they don't mention it. Just a heads up.
It was a multiple choice test, an just know your fractions like mentioned above. Not all the answers are simplified which sucks (which was also mentioned above).
hi, i will be giving Optiver's test soon, thus was wondering if you were able to find good resources to practice rather complex questions with decimals, e.g. 48.69*0.8 or similar? I will appreciate any advice:)
There's TraderTest, apart from that I'm not really sure of any other places
Optiver questions (Originally Posted: 09/14/2015)
I am invited to take a test for Optiver. Is basically everyone invited to the test or have they done some pre screening of applicants? Also does anyone have an info on salaries? Many results here about this topic are sporadic.
Thanks,
Bump
Optiver probability questions (Originally Posted: 03/09/2016)
Hi guys,
I am new to this awesome forum and feels like it is a gold mine. I have recently sit Optiver numerical test 1 and 2 and think I can pass it (fingers crossed). I am more than happy to share my tricks but I share it after I know that I passed it to make sure that my tips are effective.
I know there will be probability questions in the following interviews and can someone please tell me how to prepare for them? Any information (experience, books and websites) will be appreciated
I personally feel books are a waste of time and money since there are so many free resources online. Reviewing concepts regarding conditional probability and bayes theorem is pretty important. Having interviewed with several similar firms, I can say that glassdoor is actually a pretty good source of example questions. Looking at glassdoor pages for both Optiver and competing firms will give you a pretty good idea of what types of question will be asked, and what areas you may need to brush up on. Also, I recommend checking out the the probability section of Braingle. I've gotten asked anything from simple counting and expected value questions to some pretty weird logic questions.
I agree with the post above. Most books are just a collection of questions and answers, all of which you can find some variation of online. If you're going to get a book, get an introductory probability textbook if anything (but you shouldn't need that).
I passed the Optiver tests and got to the third round, so I can give you a few insights. Every question was followed up with a confidence measure. They want to see how sure you are of your answer, and also how much you know you don't know. Every question I got was open ended/unsolvable, unlike some trading interviews where you can use mental math and conditional probability tricks to get a concrete answer.
An example of a question I got is you have a dartboard, circumscribed within a square. The square's dimensions are 10"x10". The circle is split into 20 equal sections, and each is marked with a number alternating from the low end to the high end of interval [1,20], so 1, 20, 2, 19, 3, etc. Also, inside the center of the dartboard, is another circle 1" in diameter. This is marked 50. So you have 21 sections with numbers in them, these are your point values (payoff in dollars), and the area outside the circle but in the square is worth 0.
-What's the EV of the game? -What's the optimal strategy? -If I let you rethrow your first throw at the cost of $1, will you take it? What if you have 2 rethrows?
Stuff like that. That was actually a simpler question because at least there was a semblance of a framework you could use. Other questions were completely unanswerable with any regular probability techniques - the interviewer repeatedly stressed he wanted to hear my thinking, not the answer.
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