Market Maker Interview Questions for Traders
The same round is marked differently depending on the seat you are interviewing for. This is the market maker set as it applies to traders.
144 questions, all free to practise. The split is 28 easy, 79 medium, 37 hard. The topics that come up most are probability (73), combinatorics (38), brainteasers (35), expected value (23).
- A majority of onesEasyCombinatoricsView →
- A specific sequence given three headsEasyProbabilityConditional Probability & ExpectationView →
- All four aces before any kingEasyProbabilityCombinatoricsView →
- All the squares on a chessboardEasyCombinatoricsBrainteasersView →
- Beating a product of uniformsEasyProbabilityRandom VariablesView →
- Beating three othersEasyProbabilityRandom VariablesView →
- Clock angle at 3:15EasyBrainteasersView →
- Even heads with one fair coinEasyProbabilityConditional Probability & ExpectationView →
- Expected flips for two heads (not in a row)EasyProbabilityExpected ValueView →
- Guessing a number with high-low hintsEasyBrainteasersProgramming & DSAView →
- Handshakes at four couplesEasyCombinatoricsBrainteasersView →
- Keep it or draw againEasyProbabilityExpected ValueView →
- Matching a max and a min at zeroEasyProbabilityView →
- Matching locks to keysEasyBrainteasersView →
- More heads than tails in six flipsEasyProbabilityView →
- Reflipping for valueEasyProbabilityExpected ValueView →
- Repeated digit on a plateEasyCombinatoricsView →
- Six heads from a random biased coinEasyConditional Probability & ExpectationRandom VariablesView →
- Summing n plus one over two to the nEasyCalculusView →
- Tangent-minus-sine third-order limitEasyCalculusView →
- The added babyEasyProbabilityConditional Probability & ExpectationView →
- The price of a triangular gardenEasyBrainteasersView →
- The top two cards form a pairEasyProbabilityCombinatoricsView →
- Three cube faces at a cornerEasyProbabilityCombinatoricsView →
- Two primes with an even sumEasyProbabilityCombinatoricsView →
- Unchanged after ten swingsEasyProbabilityBrainteasersView →
- When the clock hands next meetEasyBrainteasersView →
- Whether either bus comes soonEasyProbabilityRandom VariablesView →
- 25 horses, 5 tracksMediumBrainteasersView →
- A convexity gap by JensenMediumRandom VariablesExpected ValueView →
- A low medianMediumProbabilityRandom VariablesView →
- A prime sum on prime diceMediumProbabilityCombinatoricsView →
- Adverse selection in quotingMediumMarket Making & Betting GamesView →
- An ace for everyoneMediumProbabilityCombinatoricsView →
- An ace in every pileMediumProbabilityCombinatoricsView →
- Backing out the informed flow from imbalanceMediumMarket Making & Betting GamesView →
- Boy–girl neighbors in a lineMediumCombinatoricsExpected ValueView →
- Cats and dogs on the streetMediumBrainteasersView →
- Chords that don't crossMediumProbabilityCombinatoricsView →
- Clock hands overlapMediumBrainteasersView →
- Coin sets the number of dice rollsMediumProbabilityConditional Probability & ExpectationView →
- Conversion arbitrage from a parity violationMediumFinance & DerivativesView →
- Cutting a cube into 27MediumBrainteasersView →
- Delta of a straddleMediumFinance & DerivativesView →
- Distributing candies with a capMediumCombinatoricsView →
- Emptying the cherry bowlMediumProbabilityCombinatoricsView →
- Exactly two aces in a bridge handMediumProbabilityCombinatoricsView →
- Expected fives before the first sixMediumProbabilityExpected ValueView →
- Expected flips for HTMediumExpected ValueStochastic ProcessesView →
- Fair value after two informed buysMediumMarket Making & Betting GamesView →
- First HH on the tenth tossMediumProbabilityCombinatoricsView →
- First head strictly soonerMediumProbabilityRandom VariablesView →
- First to three of a kind in a rowMediumProbabilityExpected ValueView →
- Forward price with a cash dividendMediumFinance & DerivativesView →
- Four fives before the first sixMediumProbabilityRandom VariablesView →
- Four times as long to the first headMediumProbabilityRandom VariablesView →
- Fox, goose, beans crossingMediumBrainteasersView →
- Gambler's ruin (unfair)MediumProbabilityStochastic ProcessesView →
- Gamma and rehedging P&LMediumFinance & DerivativesView →
- Grandmother's age from the digitsMediumBrainteasersView →
- HT before HH in coin flipsMediumProbabilityStochastic ProcessesView →
- Heads given the ends differMediumConditional Probability & ExpectationExpected ValueView →
- Implied dividend yield from a forwardMediumFinance & DerivativesView →
- Inventory skewMediumMarket Making & Betting GamesView →
- Keeping two apartMediumCombinatoricsView →
- Kelly sizing on an asymmetric betMediumMarket Making & Betting GamesView →
- Largest circle in a triangleMediumBrainteasersView →
- Limit of x^100 over e^xMediumCalculusView →
- Marking a seasoned forwardMediumFinance & DerivativesView →
- Monty HallMediumProbabilityConditional Probability & ExpectationView →
- Monty Hall with 100 doorsMediumProbabilityConditional Probability & ExpectationView →
- No face card before the two of heartsMediumProbabilityCombinatoricsView →
- No-arbitrage call boundsMediumFinance & DerivativesView →
- One card each in casino warMediumProbabilityCombinatoricsView →
- One extra roll for more primesMediumProbabilityView →
- One hundred animals for a thousand dollarsMediumBrainteasersView →
- Optimal bid-ask placementMediumMarket Making & Betting GamesView →
- Paid only if the last roll winsMediumExpected ValueView →
- Pair at a round tableMediumCombinatoricsView →
- Pricing a digital from a call spreadMediumFinance & DerivativesView →
- Probability of three of a kindMediumProbabilityCombinatoricsView →
- Put–call parity with a dividendMediumFinance & DerivativesView →
- Reading order flowMediumMarket Making & Betting GamesView →
- Red faces on a diced cubeMediumCombinatoricsExpected ValueView →
- Risk-neutral up probabilityMediumStochastic ProcessesFinance & DerivativesView →
- Rolls to a six before a fiveMediumProbabilityExpected ValueView →
- Second-price auction strategyMediumProbabilityMarket Making & Betting GamesView →
- Short-straddle P&L when vol stays lowMediumFinance & DerivativesView →
- The birthday problemMediumProbabilityCombinatoricsView →
- The larger die shows a 4 - what about the smaller?MediumProbabilityRandom VariablesView →
- The largest unmakeable totalMediumCombinatoricsBrainteasersView →
- The missing dollarMediumBrainteasersView →
- The same number of tailsMediumProbabilityCombinatoricsView →
- The two-headed coinMediumProbabilityConditional Probability & ExpectationView →
- Three mislabeled jarsMediumBrainteasersView →
- Three ones in a rowMediumProbabilityCombinatoricsView →
- Three prisonersMediumProbabilityConditional Probability & ExpectationView →
- Two childrenMediumProbabilityConditional Probability & ExpectationView →
- Two guards, two doorsMediumBrainteasersView →
- Two ropes, 45 minutesMediumBrainteasersView →
- Two trains and a flyMediumBrainteasersView →
- Weighing 1 to 40MediumBrainteasersView →
- Which coin produced two heads?MediumProbabilityConditional Probability & ExpectationView →
- Width of a market under uncertaintyMediumMarket Making & Betting GamesStatisticsView →
- Wine and waterMediumBrainteasersView →
- Winning from deuceMediumProbabilityConditional Probability & ExpectationView →
- Within distance d on the unit intervalMediumProbabilityCalculusView →
- A coin thick enough to land on its sideHardProbabilityBrainteasersView →
- A small sub-triangleHardProbabilityRandom VariablesView →
- A three-way race to the first headHardProbabilityRandom VariablesView →
- A triangle of consecutive integersHardBrainteasersView →
- Ages from product and sumHardCombinatoricsBrainteasersView →
- Best-of-seven underdogHardProbabilityRandom VariablesView →
- Blue-eyed islandersHardBrainteasersView →
- Bluffing frequency in pokerHardProbabilityExpected ValueView →
- Counting two-pair handsHardProbabilityCombinatoricsView →
- Defective stack of coinsHardCombinatoricsBrainteasersView →
- Deriving the first-price shading factorHardProbabilityExpected ValueView →
- Expected chord between two random pointsHardProbabilityExpected ValueView →
- Expected chord intersectionsHardProbabilityCombinatoricsView →
- Expected largest of ten ballsHardCombinatoricsExpected ValueView →
- Expected local maxima in a shuffleHardProbabilityExpected ValueView →
- Guessing cards from a known pileHardProbabilityExpected ValueView →
- HTH before HHTHardProbabilityRandom VariablesView →
- Handshakes at a dinner partyHardCombinatoricsBrainteasersView →
- Hats in a lineHardBrainteasersView →
- Loops from tying noodlesHardProbabilityExpected ValueView →
- More coins, more heads?HardProbabilityCombinatoricsView →
- One of each face before the two of heartsHardProbabilityCombinatoricsView →
- Pairs left in the drawerHardCombinatoricsExpected ValueView →
- Pirate gameHardMarket Making & Betting GamesView →
- Prisoners and the light switchHardBrainteasersView →
- Runs of red and blue marblesHardCombinatoricsExpected ValueView →
- Shortest of three piecesHardProbabilityRandom VariablesView →
- Six pieces, none past a halfHardProbabilityRandom VariablesView →
- Smallest card sharing a boxHardProbabilityExpected ValueView →
- The all-pay auctionHardProbabilityExpected ValueView →
- The boy born on a TuesdayHardProbabilityConditional Probability & ExpectationView →
- The drunk passengerHardProbabilityConditional Probability & ExpectationView →
- The racing camelsHardBrainteasersView →
- Twelve balls, one oddHardBrainteasersView →
- Two random segments overlappingHardProbabilityRandom VariablesView →
- Weighings for the odd beanHardBrainteasersView →
- Will the three-legged table stand?HardProbabilityView →
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