Optiver Traders

I decided not to pitch, it was in London, after speaking to a couple of friends and reading about the very low % of people who pass the numerical test I thought there was little point. Although I am numerate, I am certainly not a whizz kid with number crunching.

Referring to your application for a position Wholesale Trader Amsterdam within our company, we herewith would like to invite you to the next step in our application procedure on 22 may 2008 at 12:00. During this visit you will be asked to do a numerical test. Having excellent numerical skills is one of the most important requirements in becoming a Wholesale Trader Amsterdam with Optiver. There is no need to bring pen, paper, calculator or additional documents. The test meeting will be organized at the following address:
Jolly Hotel St. Ermin’s2, Caxton StreetSW1 OQW London - UK
 
Nicholass said:
Still I hear good things, pitty I don't crunch as fast as required, seems more like a parlour trick though then what's truly necessary in all honesty.
Click to expand...
There is a rationale for the number crunching.

For example, some prop-houses ask for you to do a "2 x A - B" style calc. The reason is that you need to quickly calculate the spread between two types of contracts where you have to trade contracts in different ratios. For example, if you trade two contracts of the first for every one of the second.
 
Yeah, that's what I hear from a lot of people that have taken it. Actually since posting Optiver finally responded to me and invited me to take it the next time they are at a nearby campus or at their main office in Chicago. Since they will not be on any campuses until fall my only option would be to go to Chicago. If I have an offer for an interview at another firm in Chicago I will definitely take it but I am not going to fly out their specifically for it.

I suppose the rationale makes some sense. I'm sure they get so many apps for each open position, they gotta screen people somehow.... If it's worked for them up to now they really have no reason to change it.
 
i have two questions about optiver math tast

1: one of the tests is the "numberical sequence", do anyone here have any ideas about how difficult it could be? i mean it can't be some questions like 1,2,3,4,(5) ... is the test base on calculation of the differences or ratios, or it base on IQ workout?

2. optiver has beening recruiting new guys consistently for years, and there are numberical tests for almost every week, even if the passing rate is, say, 5%, and assume 10 candidats a week, which means there would be around 2 candidates can pass all tests for a months, and 24 people for a year, however, there are around 150 traders in amsterdam office , and this number has NOT been expanding along with the new guys who are coming in. i really want to know why..as a matter of fact, i have been to optiver amsterdam office during a "in house day", and i didn't see any empty desk in the trading room...
 
outsiderzhu said:
2. optiver has beening recruiting new guys consistently for years, and there are numberical tests for almost every week, even if the passing rate is, say, 5%, and assume 10 candidats a week, which means there would be around 2 candidates can pass all tests for a months, and 24 people for a year, however, there are around 150 traders in amsterdam office , and this number has NOT been expanding along with the new guys who are coming in. i really want to know why..as a matter of fact, i have been to optiver amsterdam office during a "in house day", and i didn't see any empty desk in the trading room...
Click to expand...

Sounds like you know the answer ;)
 
Can anyone tell what can be asked in Optiver Interview? I mean what kind of questions one can expect for the position of derivative trader?
Thanks
 
swedendenmark said:
Can anyone tell what can be asked in Optiver Interview? I mean what kind of questions one can expect for the position of derivative trader?
Thanks
Click to expand...

basically it is more about your personality, motivation towards the job than theories, but i heard that some of the basic theoretical questions might be asked such as what's Black-shole model etc...

anyway, if you can pass the numerical test, interview would be a big problem
 
outsiderzhu said:
anyway, if you can pass the numerical test, interview would be a big problem
Click to expand...

First of all thanks a lot for your insights. Well, I hope there was no typo when you wrote "interview would be a big problem", your sentence more sounded if you wished to say "interview would NOT be a big problem".... kindly please clarify.
Your inputs would be esteemed.
Thanks a lot
 
swedendenmark said:
First of all thanks a lot for your insights. Well, I hope there was no typo when you wrote "interview would be a big problem", your sentence more sounded if you wished to say "interview would NOT be a big problem".... kindly please clarify.
Your inputs would be esteemed.
Thanks a lot
Click to expand...

it should NOT be a problem! sorry about that. :cheesy:
 
Thanks outsiderzhu for the clarification.

Is optiver's 8 min-80 question exam paper based affair or screen/computer based exam? As I read across the discussion forums that only if you clear 8 min exam, you are allowed to proceed on to the later stages. So my hunch is that it would be screen based exam, else how come they come out with results so fast! If anyone knows about it, kindly share the format information.
Thanks a lot
 
RE: IMC Pacific

Hi guys

I am really new to this whole forum thing. However, I thought I would give it a go. I am a Sydney based lawyer, who studied commerce and law at Sydney Uni. I am sick of law after 1.5 years of practice. It has become a bit dull and there is no excitement.

I want to apply for a position with IMC Pacific as a marketmaker. Has anyone applied for IMC Pacific? If yes, could you please give me some idea of what the exams and interviews are like. I understand that there is firstly a computer based test, and then a paper based test. What are the details of these tests. I hear that the paper based test is 10 questions in 8 min, where you must multiply a 3 digit number by a 3 digit number... is this true?? Is this multiple choice... what else?????????

Please help!
 
OPTIVER NUMERICAL TEST

Hello,
I recently gave Optiver numerical test and it behooves me to share my experience with all those people who intend to give it a try in future.
There are basically 3 tests and I reached till stage 2, and then I got booted out. So, I shall be discussing the first two stages as I am only aware of these two.
Test 1:
Its decisive test. Where you are given 80 questions and the time allocated is mere 8 minutes. Its a multiple choice test and very easy on the face. BUT, when the time constraint is involved, its no doubt not a cake walk any more. I passed with 55 marks and was able to do 60-61 questions. The invigilator told us categorically that we should not try to complete all, just aim for 60 and try to do as correct as we can. She was right. Every correct answer fetches you 1 mark and every wrong answer costs 2 marks. So the formula for the grading be:
Final marks = c-2w, where n=c+w obviously.
n=number of Q attempted
c=number of correct Q
w=number of wrong Q
The questions involved were very simple, with NO complex calculations. Questions asked were like
1)0.40 + x = 0.48
a) 0.18 b) 0.08 c) 0.8 d) 0.4 Correct is b)
2) 1/2 / x = 3/2
a)1/4 b) 3 c) 1/3 d) 2/3 Correct is c)

If one aims for all 80 questions, then theoretically we have 8*60/80=6 Seconds for each question, BUT one must keep in mind that we have to search the correct answer from a,b,c,d and then fill in our choice is a separate answer sheet and this process consumes time, say 1.5-2.5 sec. Sometimes answer is not in any straight form. For example on the example 2 above, since the answer is 1/3, in multiple choice it could have been 2/6 also. In nut shell:
2) 1/2 / x = 3/2
a)1/4 b) 3 c) 2/6 d) 2/3 Correct is c)
Be careful with the fractions. Optiver will try to confuse you as much as it can.
Had one supposed to just tick mark the answer on the question paper itself, life would have been lot simpler. But thats not the case simply. Do keep the answer sheet close the the body so as to fill in as soon as possible. Ergonomics matter here. Be careful that you don't fill in the wrong place. I filled the answer for 21st Q in 22nd's place and then I had to change the choice which adds to a tremendous confusion given the pressure. Cut off varies from 50-55. If some one is in this zone, I believe that he is given a chance. I think that in the last if some one clears all three tests, a weighted commutative score is also taken. Invigilator was alluding to it that, if one is in the gray zone, then its always hard to get through finally even after clearing all 3 tests. But, I am not sure of the methodology they employ for it or if indeed they take cumulative or not. I still think that they do take cumulative in the last, this is what transpired from their talk. So the mantra is to get as much marks one can get, and not merely tied to clearing cut off.

The invigilator told that only around 8-10% people clear this 1st test.

Test 2: This is a sequence series. Well I had never any preparation for it, so I messed it up. I found it hard actually, to tell you the truth. I really do not remember any question which was asked but an example question was
1,2,3,6,12,24,*,* Answer is 48,96.
Here every number is the sum of previous numbers
Its again a multiple choice, BUT there is NO negative marking. There are 26 questions in all and 30 minutes time. Cut off was 17. Cut off is not told before the exam.
I would say that solve some IQ problems like this before you go for the test. I do not have any source, but I am sure that there are books on similar problems.
Third test, I do not know, Sorry as I was not able to reach this stage.

Thanks
 
Last edited:
Sorry a small ERRATA:
In test 2: There is negative marking of 1 mark.
So the formula for final marks be: Final marks = c-w,

Also, for Test 1, you have to answer in an order, and if you leave any blank, it will cost you 2 marks. For Test 2, there is no such order. Answer any question you wish.
 
swedendenmark said:
OPTIVER NUMERICAL TEST

Hello,
I recently gave Optiver numerical test and it behooves me to share my experience with all those people who intend to give it a try in future.
There are basically 3 tests and I reached till stage 2, and then I got booted out. So, I shall be discussing the first two stages as I am only aware of these two.
Test 1:
Its decisive test. Where you are given 80 questions and the time allocated is mere 8 minutes. Its a multiple choice test and very easy on the face. BUT, when the time constraint is involved, its no doubt not a cake walk any more. I passed with 55 marks and was able to do 60-61 questions. The invigilator told us categorically that we should not try to complete all, just aim for 60 and try to do as correct as we can. She was right. Every correct answer fetches you 1 mark and every wrong answer costs 2 marks. So the formula for the grading be:
Final marks = c-2w, where n=c+w obviously.
n=number of Q attempted
c=number of correct Q
w=number of wrong Q
The questions involved were very simple, with NO complex calculations. Questions asked were like
1)0.40 + x = 0.48
a) 0.18 b) 0.08 c) 0.8 d) 0.4 Correct is b)
2) 1/2 / x = 3/2
a)1/4 b) 3 c) 1/3 d) 2/3 Correct is c)

If one aims for all 80 questions, then theoretically we have 8*60/80=6 Seconds for each question, BUT one must keep in mind that we have to search the correct answer from a,b,c,d and then fill in our choice is a separate answer sheet and this process consumes time, say 1.5-2.5 sec. Sometimes answer is not in any straight form. For example on the example 2 above, since the answer is 1/3, in multiple choice it could have been 2/6 also. In nut shell:
2) 1/2 / x = 3/2
a)1/4 b) 3 c) 2/6 d) 2/3 Correct is c)
Be careful with the fractions. Optiver will try to confuse you as much as it can.
Had one supposed to just tick mark the answer on the question paper itself, life would have been lot simpler. But thats not the case simply. Do keep the answer sheet close the the body so as to fill in as soon as possible. Ergonomics matter here. Be careful that you don't fill in the wrong place. I filled the answer for 21st Q in 22nd's place and then I had to change the choice which adds to a tremendous confusion given the pressure. Cut off varies from 50-55. If some one is in this zone, I believe that he is given a chance. I think that in the last if some one clears all three tests, a weighted commutative score is also taken. Invigilator was alluding to it that, if one is in the gray zone, then its always hard to get through finally even after clearing all 3 tests. But, I am not sure of the methodology they employ for it or if indeed they take cumulative or not. I still think that they do take cumulative in the last, this is what transpired from their talk. So the mantra is to get as much marks one can get, and not merely tied to clearing cut off.

The invigilator told that only around 8-10% people clear this 1st test.

Test 2: This is a sequence series. Well I had never any preparation for it, so I messed it up. I found it hard actually, to tell you the truth. I really do not remember any question which was asked but an example question was
1,2,3,6,12,24,*,* Answer is 48,96.
Here every number is the sum of previous numbers
Its again a multiple choice, BUT there is NO negative marking. There are 26 questions in all and 30 minutes time. Cut off was 17. Cut off is not told before the exam.
I would say that solve some IQ problems like this before you go for the test. I do not have any source, but I am sure that there are books on similar problems.
Third test, I do not know, Sorry as I was not able to reach this stage.

Thanks
Click to expand...

Great help mate, can you please also advice me is for the test 1 more questions on fractions, %, and decimals, or includes some sentence based complicated questions?
 
swedendenmark said:
Sorry a small ERRATA:
In test 2: There is negative marking of 1 mark.
So the formula for final marks be: Final marks = c-w,

Also, for Test 1, you have to answer in an order, and if you leave any blank, it will cost you 2 marks. For Test 2, there is no such order. Answer any question you wish.
Click to expand...

Thanks you very much, but just want to confirm for suppose for test 1 i attempted first 70 questions by leaving 10 attempted, so does it will take 10* 2 =20 points from my score?
 
nakhate.abhishek said:
Thanks you very much, but just want to confirm for suppose for test 1 i attempted first 70 questions by leaving 10 attempted, so does it will take 10* 2 =20 points from my score?
Click to expand...

NO, those 10 questions will not be counted. In gist, no question after your last attempted question(in order) will be counted. If the last question you attempted was number 63, so you will be graded on your performance for 1-63. Remaining 17 will be as good as non existent.

Even the invigilator encouraged us to attempt 60-65, but be accurate.
 
You must log in or register to reply here.

Similar threads

G
Optiver Vs Tibra
Replies
0
Views
2K
goodveblen
G
E
Optiver trader test
2
Replies
23
Views
35K
namoek
N
F
Optiver Vs Tibra
Replies
19
Views
19K
_Alekhine_
A
S
GH Financials
Replies
4
Views
3K
tyler.d33480
T
C
Career Prospects After working for Firms Like Tibra and Optiver
2 3 4
Replies
67
Views
52K
Pirate12345
P
Top