Akuna Capital opens with two brutal timed tests, 80 math questions in 8 minutes and 24 sequence questions in 12, before a human ever reads your application.
On a railroad stock you buy the -strike call for and sell the -strike call for — same expiry, same number of shares. What is the maximum profit per share you can realize at expiration, and where must the stock finish to achieve it?
A dealer offers the following classic gamble. She flips a fair coin over and over, stopping at the first heads. If that first heads lands on flip number , she pays you — so \$2 if heads comes immediately, \$4 if it takes two flips, \$8 for three, and so on. What entry fee would make this game actuarially fair?
A board-game designer wants a "critical hit" to occur with probability exactly , but the game ships with only a fair coin. Design a procedure using fair coin flips that declares a critical hit with probability exactly , and compute the expected number of flips it consumes.
Math, sequences, coding and a betting game
Behavioral prompts, answered straight to camera
One or more calls, conducted by a trader
Revisits earlier material and weighs fit
Practice pricing under a timer
A zookeeper transporting animals reaches a river with a hawk, a snake, and a frog. The rowboat at the bank holds only her plus one passenger per trip. Left unsupervised together, the hawk will attack the snake, and the snake will swallow the frog; each is safe whenever the keeper is present, and the hawk has no interest in the frog. How does she ferry all three across intact?
A magician's case contains coins: are ordinary fair coins, and one is a trick coin with heads stamped on both faces. You pull a coin from the case uniformly at random and begin flipping it, getting heads every time. What is the smallest number of consecutive heads you must observe before the probability that you grabbed the trick coin reaches at least ?
A friend tosses three fair coins behind a screen, looks at the result, and truthfully tells you only this: "they didn't all land tails." Given that report, what is the probability that precisely one of the three coins came up heads?
A referee tosses a fair coin times and records the results. What is the probability that the total number of heads recorded is even?
From the top of a staircase with at least steps, you release marbles. Independently for each marble, at every step it encounters it settles there with probability and otherwise tumbles onward to the next step (probability ). On average, how many marbles come to rest on the th step?
A lab tech places one spot of mold in a fresh petri dish; the mold's area doubles every day, and a single spot takes exactly 10 days to blanket the whole dish. Suppose she instead seeds a fresh dish with 8 identical spots on day one. How many days until that dish is fully covered?
A magician's cabinet has two drawers. The left drawer holds a bill together with a bill; the right drawer holds two bills. You open one drawer at random, blindly pull out one bill, and see that it is . You now get to draw exactly one more bill — from the same drawer, or from the other one. Does switching drawers improve your expected haul?
A call on a biotech stock is marked at , with delta and gamma . The stock suddenly ticks up by . Using a second-order delta–gamma approximation, what is the option's new price?
Two timed tests: a mental-math screen of 80 multiple-choice questions in 8 minutes, about six seconds each, and a sequences test of 24 questions in 12 minutes. Candidates must pass both before continuing, then take a HackerRank coding test of 2 to 3 easy-to-medium problems and a VidCruiter recorded round built around a timed letter based betting game.
A call with a trader covering brainteasers and logical puzzles, a market-making or make-a-price exercise, probability and expected-value questions, and basic derivatives concepts discussed conceptually rather than priced live.
Candidate accounts put it at roughly 3 to 4 hours, held in person in Chicago or by video. It revisits brainteasers, probability and market-making from earlier rounds and layers on deeper behavioral questions about motivation and cultural fit.
