Chopper Trading Interview Questions

11 total interview insight submissions
Interview Experience (47%)

The Interview Experience is a score from 1 star (very negative) to 5 stars (very positive) generated based on the Interview Insights at this company.

The number you see in the middle of the doughnut pie chart is the simple average of these scores. If you hover over the various sections of the donut, you will see the % breakdown of each score given.

The percentile score in the title is calculated across the entire Company Database and uses an adjusted score based on Bayesian Estimates (to account for companies that have few interview insights). Simply put, as a company gets more reviews, the confidence of a "true score" increases so it is pulled closer to its simple average and away from the average of the entire dataset.

3
  • Very Negative
  • Negative
  • Neutral
  • Positive
  • Very Positive
Interview Difficulty (97%)

The Interview Difficulty is a score ranging from very difficult (red) to very easy (green) generated based on the Interview Insights at this company.

The number you see in the middle of the doughnut pie chart is the simple average of these scores. The higher the number, the more difficult the interviews on average. If you hover over the various sections of the doughnut, you will see the % breakdown of each score given.

The percentile score in the title is calculated across the entire Company Database and uses an adjusted score based on Bayesian Estimates (to account for companies that have few interview insights). Simply put, as a company gets more insights, the confidence of a "true score" increases so it is pulled closer to its simple average and away from the average of the entire data set.

3.4
  • Very Easy
  • Easy
  • Average
  • Difficult
  • Very Difficult

Interviews at Chopper Trading

Filter by:
Year
Job Title
Group/Division
Location
Experience
Difficulty
Trading Assistant
Year 2014
Job Title Trading Assistant
Group/Division Prop Trading
Location Chicago
Experience
Neutral
Difficulty
Difficult
Trading Assistant
Year 2014
Job Title Trading Assistant
Group/Division Prop Trading
Location Chicago
Experience
Negative
Difficulty
Average
Trading Assistant
Year 2013
Job Title Trading Assistant
Group/Division Prop Trading
Location Chicago
Experience
Very Positive
Difficulty
Very Difficult
Trading Assistant
Year 2013
Job Title Trading Assistant
Group/Division Macro
Location Chicago
Experience
Neutral
Difficulty
Average
Trading Assistant
Year 2013
Job Title Trading Assistant
Group/Division Trading
Location Chicago
Experience
Neutral
Difficulty
Average
Trading Assistant
Year 2013
Job Title Trading Assistant
Group/Division assistant trader
Location Chicago
Experience
Negative
Difficulty
Very Difficult
Trading Assistant
Year 2011
Job Title Trading Assistant
Group/Division Fixed Income
Location Chicago
Experience
Positive
Difficulty
Very Easy
Trading Assistant
Year 2012
Job Title Trading Assistant
Group/Division
Location Chicago
Experience
Negative
Difficulty
Easy
Trading Assistant
Year 2012
Job Title Trading Assistant
Group/Division
Location Chicago
Experience
Positive
Difficulty
Difficult
Trading Assistant
Year 2011
Job Title Trading Assistant
Group/Division
Location Chicago
Experience
Negative
Difficulty
Difficult

Interview Questions & Answers - Chopper Trading Examples

Assistant Trader Interview - Prop Trading

Anonymous interview candidate in Chicago
Interviewed: August 2014
Outcome
No Offer
Interview Source
College / University / On Campus Recruiting
Length of Process
1-2 months
Application
Phone Interview
1 on 1 Interview
Other
Interview
First was a phone screen with HR. Typical "walk me through your resume" questions. Also, asked "why trading?"

Second was a phone interview with a particular quant trading desk (treasury spreads).

No fit there, but was recommended by interviewer. So I was put in touch with the main discretionary trading desk.

Skype interview with two traders from the main desk.

No offer.
Interview Questions
Make a market on flipping a coin: tails, you get $2^(n-1); heads, you keep flipping until tails. Basically tried to figure out your risk tolerance/preference.
There is a betting game with x% chance of paying off. How much would you wager if: a) you played once, b) five times, or c) with another person, also five times?

Trading Assistant Interview - Prop Trading

Anonymous interview candidate in Chicago
Interviewed: 2014
Outcome
No Offer
Interview Source
Applied Online
Length of Process
1-2 months
Application
Phone Interview
1 on 1 Interview
Group Interview
Skills Test
IQ / Intelligence Test
Personality Test
Background Check
Interview
Phone interview with basic fit questions. 2-3 rounds of interviews with different groups. Probability and risk questions.
Interview Questions
What is the chance of pulling X card out of a deck? What is the chance of rolling X with two dice? Why do you want to be a trader?

Trading Assistant Interview - Prop Trading

Anonymous employee in Chicago
Interviewed: February 2013
Outcome
Accepted Offer
Interview Source
Applied Online
Length of Process
2-3 months
Application
Phone Interview
1 on 1 Interview
Group Interview
Skills Test
IQ / Intelligence Test
Background Check
Interview
I applied to the position online and received a call from a recruiter. The time between the application and the call is hard to say since I was applying to many different places over an extended period of time.

I spoke with the recruiter over the phone for an initial screening and was referred to a specific team within the company. The team members each spoke with me over the phone via conference call, and decided to fly me into Chicago for a face-to-face meet. The flight and limo ride over was all paid for, and took me the entire day to interview with the different teams.

Each team asked different questions ranging from statistics to brainteasers to behavioral questions and my goals and aspirations. Finally I was given a written IQ test of some sort and was released after a short chat with the recruiter.

My impression of the interviews was very positive as the environment seemed relaxed and unburdened by the formalities of the common BB interviews. Jeans and flip flops, shorts and t-shirts were the norm and everyone seemed to be at ease. In conclusion I enjoyed the whole process.

I was given an offer to join a few days after the final interview and I accepted.
Interview Questions
This was a fairly straightforward conditional probability question. There were many others with varying levels of difficulty but I believe this is a good starting point for anyone curious about prop shop brainteasers.

There are 1000 coins and one of them is double-headed. You randomly pick a coin and toss 10 times and get 10 heads in a row. What is the probability that you chose the double-headed coin?

Assistant Trader Interview - Macro

Anonymous interview candidate in Chicago
Interviewed: September 2013
Outcome
Declined Offer
Interview Source
Applied Online
Length of Process
Less than 1 month
Application
Phone Interview
1 on 1 Interview
Group Interview
Skills Test
IQ / Intelligence Test
Interview
Applied online. Dealt with many phone calls from their recruiter. They are pretty particular about hiring people with the right mindset. Their program sounds tough but substantive. I had the opportunity to speak with about 30 people.

The questions were entirely why prop trading and brainteasers/math. They are very protective of info about the firm. Despite receiving some negative vibes from the interviewers I received an offer.
Interview Questions
Stuff from Heard on the Street and the like.

Explain QE program

trading assistant Interview - Trading

Anonymous interview candidate in Chicago
Interviewed: October 2013
Outcome
No Offer
Interview Source
College / University / On Campus Recruiting
Length of Process
Less than 1 month
Application
Phone Interview
1 on 1 Interview
Group Interview
Skills Test
Personality Test
Interview
Submitted application during career fair on campus, received paper test including 8 brainteasers in 45 mins, then, a phone interview from a trader, then, online personality test, then, onsite interview meeting with different trading groups.
Interview Questions
Whats one thing you know about the market that happened yesterday?logic puzzles, predicting patterns, What are odds of getting EXACTLY two (2) heads if you flip a fair coin 10 times?

assistant trader Interview - assistant trader

Anonymous interview candidate in Chicago
Interviewed: June 2013
Outcome
No Offer
Interview Source
Recruiter
Length of Process
Less than 1 month
Application
Phone Interview
1 on 1 Interview
Group Interview
IQ / Intelligence Test
Personality Test
Interview
Very unorganized, difficult, and uneasy. Multiple interview in one day (about 6 hrs). Told me I had made the next round only to get a call the day of the final round interview saying they needed to reschedule. Yet they never did. Very unprofessional
Interview Questions
Would you rather play tetris all day and get paid 1 mil a year or chess and paid 50K?? Explain your answer and give reasons for your rational and why it is your choice.
I said chess because it is more skill based. I said that the autonomy of tetris day in and day out could make someone go mad, even if they are in fact playing for 1 mil year

trading assistant Interview - Fixed Income

Anonymous employee in Chicago
Interviewed: March 2011
Outcome
Accepted Offer
Interview Source
College / University / On Campus Recruiting
Length of Process
2-3 months
Application
Phone Interview
1 on 1 Interview
Group Interview
IQ / Intelligence Test
Background Check
Interview
I got an initial call from someone in HR. It was at an inconvenient time so we rescheduled. A few days later we spoke again and got some standard questions like why do you want to trade and about my resume. A few days after that I got an email saying that I had made it to the next round and we set up a call with a senior trader. This call was also very short and consisted of the same type of softball fit qs. I actually thought he didn't like me for some reason and that's why he cut me short before technicals, but really the interview process is just ridiculously easy. I got an email a few days later that I would have a group phone interview with the COO and the president. They also asked the same easy fit questions and seemed to want to brag about their own exploits more than see if I was good. After this call I was invited to interview at their offices. They flew me out and put me up at a nice hotel conveniently located about a 2 minute walk from the office. First I took some math/probability/stats/brainteaser type test which i guess required a bit of thinking but was much easier than this type of thing elsewhere. The hr girl told me at lunch that i absolutely crushed it, for what its worth. Then i had a full day of interviews, sometimes with groups of as many as 4 interviewers, sometimes 1 on 1. The same guys that I had had the call with interviewed me again and had totally forgot about the call, once again just taking the time to brag about how baller they are. Once again, everyone was asking the same easy fit questions. Out of over 10 people I met, only 2 guys asked anything remotely technical and even these were way easier than the ones elsewhere.

So naturally I got an offer. And i accepted it cuz im stupid and rationalized and somehow didn't see it coming from a million miles away that people here were going to be mostly retarded.
Interview Questions
Why trading?

Tell me about yourself.

Walk me through your resume.

What do you think we do on a daily basis.

Tell me about x, y, z on your resume.

Why do you think you will be a good trader/what qualities do you think make a successful trader?
The taking shit across a bridge problem

The balls of different weights problems.

Confidence intervals/making mkts.

Assistant Trader Interview -

Anonymous interview candidate in Chicago
Interviewed: June 2012
Outcome
No Offer
Interview Source
College / University / On Campus Recruiting
Length of Process
Less than 1 month
Application
Phone Interview
Interview
Called and asked questions about my background. No technical questions. It was a preliminary interview.
Interview Questions
Why Chopper Trading?
What experience do you have in trading?
Why do you want to trade?
What kind of trading do you want to go into?

Trading Assistant Interview -

Anonymous interview candidate in Chicago
Interviewed: May 2012
Outcome
No Offer
Interview Source
Applied Online
Length of Process
1-2 months
Application
Phone Interview
1 on 1 Interview
Skills Test
Interview
Frequently lost touch with HR. Don't give up! Keep following up and eventually you'll go through the screening process.

Three to four rounds: initial phone screen, paper quiz / panel interview, final interview.

Initial phone screen: lots of behavioral questions, what you know about the industry, what you know about the company (yes it's named after a dog).

Paper quiz / interview: 8-9 brainteasers with about 40 min to complete. Interviewers review the answers to the quiz and then ask you questions / introduce their group.

Final interview: For those groups interested, further questioning, meet with CEO.

From what I've mustered up - they give offers then and there, I did not get an offer so I assume that they're not interested.
Interview Questions
Stock A and B have a correlation of rho, Stock B and C also have a correlation of rho - what can you tell me about the correlation between Stock A and C?
The maximum correlation would be 1 - if A and C are the same stock. I wasn't sure about the lowest correlation, and couldn't provide an answer that I could back up.

Assistant Trader Interview -

Anonymous interview candidate in Chicago
Interviewed: 2011
Outcome
No Offer
Interview Source
College / University / On Campus Recruiting
Length of Process
Less than 1 month
Application
1 on 1 Interview
IQ / Intelligence Test
Interview
Not very organized. Contacted by a recruiter and set up an interview which I thought went well. I followed up with the guy and he said he'd get back to me in a week. Followed up again later and got the same answer, eventually lost contact and accepted a job elsewhere
Interview Questions
General brainteasers/math problems which were pretty difficult. Had about 30 minutes to complete the test.