Imc Pacific Tests

Hi

I was wondering if anyone has sat for the IMC Pacific exams.

I am thinking of applying to IMC Pacific, but am daunted by all the mystery surrounding their entry exams.

Can somebody please provide me with some clear insight about these tests and what to expect from them. I really need to know how to prepare for these exams. I have been practising my maths, but want to know exactly what these exams entail.... I heard off the rumour mill that there is firstly a computer based test, then a written test, where there are 10 questions consisting of 3 digit number multiplied by 3 digit numbers that must be answered in 8 minutes. Is this true? Are they multiple choice or can you do working out.

Please help me... I desperately want to be a trader..

I sat the IMC tests in 2007 and got through to the last stage. The first test is an online test that is very basic maths and it timed, but you shouldn't have much trouble with it if you have reasonable arithmetic skills. They ask you questions like look at the chart and then do some percentage calculations, etc.

The second set of tests combines arithmetic and abstract reasoning. For the math questions you have 30mins (if i recall correctly) to do 30q's. You can only use you head and can't write anything down. They start with easy ones like 5 x 25...and by then end would br something like 2500/75 and answer to 3 decimal places.

The third set of tests comprise of an interview, a phone test and a computer game. the phone test is other market makers on the other end of the phone asking if you would buy/sell options at specific prices and you are given the theoretical values. You also have to stay within a risk budget. in the computer game you run a pizza store and need to decide which pizza's to make and ingredients to buy. Each time period the costs of both change and the idea is to make as much $$$ as possible.

To get to the last stage last year you had to be in the top 10 of the people who sat the second stage exams (there were about 60-70 that sat them). On another note, when you say you want to be a trader, you need to be more specific as IMC is great if you want to be a market maker and run a very risk averse flat book. However, if you want to be a position trader/speculator, then you might want to look elsewhere.

Finally, I don;t want to sound too preachy, but don't let a firms entrance exams put you off. Who gives a flying f##k if you fail.

Thanks

grant_3103 said:

I sat the IMC tests in 2007 and got through to the last stage. The first test is an online test that is very basic maths and it timed, but you shouldn't have much trouble with it if you have reasonable arithmetic skills. They ask you questions like look at the chart and then do some percentage calculations, etc.

The second set of tests combines arithmetic and abstract reasoning. For the math questions you have 30mins (if i recall correctly) to do 30q's. You can only use you head and can't write anything down. They start with easy ones like 5 x 25...and by then end would br something like 2500/75 and answer to 3 decimal places.

The third set of tests comprise of an interview, a phone test and a computer game. the phone test is other market makers on the other end of the phone asking if you would buy/sell options at specific prices and you are given the theoretical values. You also have to stay within a risk budget. in the computer game you run a pizza store and need to decide which pizza's to make and ingredients to buy. Each time period the costs of both change and the idea is to make as much $$$ as possible.

To get to the last stage last year you had to be in the top 10 of the people who sat the second stage exams (there were about 60-70 that sat them). On another note, when you say you want to be a trader, you need to be more specific as IMC is great if you want to be a market maker and run a very risk averse flat book. However, if you want to be a position trader/speculator, then you might want to look elsewhere.

Finally, I don;t want to sound too preachy, but don't let a firms entrance exams put you off. Who gives a flying f##k if you fail.

Click to expand...

Thanks so much for this Grant 3103...

I am ever so greatful. I am certain that I want to be a market maker because I want to be a trader, and am quite risk averse at the same time (I hope this is not to ironic)..

The insight you have provided me is great and the last thing I want to be is too demanding or naggy - but, please understand that I am really desperate to get into IMC Pacific. I hear that they are a great firm to work for, the hours are excellent, and you are well rewarded for your performance (assuming you perform).

I currently work as a corporate lawyer and have about 1.5 years experience. I am totally sick of it and realise that it was the wrong career choice for me. There is no excitement at all, and it is very blackletter.

If there are anymore tips or insights you could give me about what I would have to do to pass these exams, I would forever be indebted. Thanks so much.

In relation to the second round exams, are there very difficult questions like multiplying 3 digit numbers by 3 digit numbers. The examples of the questions you outlined above seem quite reasonable (I hope I am not being too presumptuous??). Could you please give me some examples of the types of most difficult questions they ask? Also, what are the abstract reasoning questions like?? ie, rearranging match sticks to make a pattern, number patterns, etc??

Also, in relation to the phone test, and pizza test - how the hell am I supposed to tackle these.... are there any tips you could give me??

Thanks so much for all your advice... and trust me, you are no preacher. All your insights are well recieved and much appreciated. Trust me.

Once again, thanks so much

Thats cool then that it is the type of position you are looking for. I think the final couple of questions in the second round you may have required you to multiply 3 digit numbers (I apologise, my memory isn't one of my stronger points). The complex/abstract reasoning questions were more to do with patterns. So you would get shown as series of patterns (usually 3 prior pictures) and then asked to pick from 4 choices what the next pattern in the sequence was. I actually also recall there being a number sequence test. It again went from easy to quite difficult (it certainly isn't my strength, I am more inclined towards just brute arithmetic).

The big thing about the phone test is not to go over your risk budget regardless of how juicy the trade is they are offering. Furthermore, it is probably best not too be too "aggressive" (I was told that I was the only person that had ever called the traders to get prices. I did this because I was over my budget and trying to get them to offering me some cancelling trades to lower it. I think ultimately that it counted against me heavily in their final decision as it made me appear more of a risk taker.)

The pizza test IMO was p!ss easy. I made $$$$ in every year of the game (it runs for 3yrs and each progressive year you have less time to fill in all your orders). They give you news items each period that affect the prices of the ingredients and pizza's. Prob my best tip is not to buy too many ingredients as i found i always had excess and that it affected my profit at the end.

thats loads of info...........thanks grant

do you also know how long before IMC gets back to you once you send in your online application?........im talking about invitation for the very first round

do different prop firms have different response times or they pretty much stay around the same range?..........say Tibra, compared to IMC

thanks a ton

With IMC (and i am pretty sure this holds for the rest of the market makers), they tend to let you know quite quickly. Unlike the IB's they tend not to d!ck around with their recruitment. They have a very tried and true method and tend to use that model. IMC from go to offers took about 1mth (max) and I know that Tibra and Optiver are probably even faster (again coming from the fact that they have a very specific idea of what a successful candidate is)

cool

so do i take it to mean that if they dont get back to you within a week/10 days, ur out of contention? (even if they dont expilicitly send out a rejection)

bcos id applied to a few about a week ago n havent heard nothing from them yet

I think alas like most companies, they can be derelict in notifying unsuccessful candidates. Most firms are quite poor about letting you know, only a few I can recall have ever sent specific notification

grant_3103 said:

Thats cool then that it is the type of position you are looking for. I think the final couple of questions in the second round you may have required you to multiply 3 digit numbers (I apologise, my memory isn't one of my stronger points). The complex/abstract reasoning questions were more to do with patterns. So you would get shown as series of patterns (usually 3 prior pictures) and then asked to pick from 4 choices what the next pattern in the sequence was. I actually also recall there being a number sequence test. It again went from easy to quite difficult (it certainly isn't my strength, I am more inclined towards just brute arithmetic).

The big thing about the phone test is not to go over your risk budget regardless of how juicy the trade is they are offering. Furthermore, it is probably best not too be too "aggressive" (I was told that I was the only person that had ever called the traders to get prices. I did this because I was over my budget and trying to get them to offering me some cancelling trades to lower it. I think ultimately that it counted against me heavily in their final decision as it made me appear more of a risk taker.)

The pizza test IMO was p!ss easy. I made $$$$ in every year of the game (it runs for 3yrs and each progressive year you have less time to fill in all your orders). They give you news items each period that affect the prices of the ingredients and pizza's. Prob my best tip is not to buy too many ingredients as i found i always had excess and that it affected my profit at the end.

Click to expand...

Thanks so much for all this info, mate. I am sure it will come in handy.

No probs, I am happy to help out. I know it can be quite difficult to find concrete info. Though it is great to see they guys from Tibra and Liquid (both excellent firms and no I don't work for either) on this forum.

mbas3497 said:

Thanks so much for all this info, mate. I am sure it will come in handy.

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Hi Mate,

My first post.

How did you go with the IMC test(s)?

I have been asked by them to do the online test & wanted to find out what kind of questions to expect & the duration of the test?

Thanks

for IMC... you have to got o amsterdam... are you really up for that?? I wasnt, that's why i didnt do their test eventhough i was invited

i just applied to their HK office, waiting to do the test. could you pls shed some light on the "series and sequence" questions ? thanks a lot

IBD_Haunter said:

for IMC... you have to got o amsterdam... are you really up for that?? I wasnt, that's why i didnt do their test eventhough i was invited

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hi IBD_Hunter,

i have been aplying to a few prop shops in nl and aus, since there arent any in my place, singapore, that are hiring but have been rejected by 'i have lost count how many' till date.

i wanted to know about the kind of profile that catches the interest of these prop shops (atleast so much so that they invite you for their very first round)

would you mind sharing your background? (something about your undergrad/masters and stuff ............. or was there something else that stood out in your resume?)

thanks a ton!

Did anyone just sat imc pacific test? I was told to have market maker test and speed dating. Did anyone have any idea?

Hi linology,

Am sorry I am not doing much to answer your question (looking up the term in relation to Market making didnt help much)....and posing one of my own

SInce you have proceeded to the MM test, u must have cleared the Numerical Reasoning, Verbal Ability and Logical Reasoning tests.
Can you recollect the kind of questions that appeared on them?
Conscious of the subjectiveness......Did you find yourself pressed for time?
Any negative marking scheme?

Any info will be greatly appreciated.

best

Hi,

I have gone through stage 1 of IMc test-> the 3 test (verbal, numerical and logic). I am going to stage 2 soon. According to the Human resources department from IMC, stage 2 is speed dating and market maker test. What is speed dating? How is the market maker test being conducted?

IMC speed dating test

grant_3103 said:

No probs, I am happy to help out. I know it can be quite difficult to find concrete info. Though it is great to see they guys from Tibra and Liquid (both excellent firms and no I don't work for either) on this forum.

Click to expand...

Hi,

I have gone through stage 1 of IMc test-> the 3 test (verbal, numerical and logic). I am going to stage 2 soon. According to the Human resources department from IMC, stage 2 is speed dating and market maker test. What is speed dating? How is the market maker test being conducted?

Result of IMC pacific stage-1

Hi gys,

Did anybody heard back from IMC pacific regarding the stage -1 results the test that we gave around 20-24th December..

Thanks,
Harmeet.

Harmeetsg said:

Hi gys,

Did anybody heard back from IMC pacific regarding the stage -1 results the test that we gave around 20-24th December..

Thanks,
Harmeet.

Click to expand...

Hi Harmeet,

I gave my tests around that time and I havent. are u in singapore presently?

best