SIG Interview Guide
Updated
SIG screens you with a 20-minute quantitative test, then spends a day at Bala Cynwyd watching how you price games, including a live poker hand.
Sample SIG questions
| Question | Category | Access |
|---|---|---|
| Legs at the Barnyard Fair A barnyard fair hosts geese, goats, and spiders. A careful tally turns up legs in total. There are twice as many geese as goats, and twice as many spiders as geese. How many spiders are at the fair? (Geese walk on legs, goats on , spiders on .) | Reasoning | Free |
| Boardwalk Parity Bets A boardwalk arcade stall runs a game built around a single fair six-sided die. Two wagers are on offer. Wager 1: put down $4 on the roll landing even; a winning ticket pays $6 back in total. Wager 2: put down $6 on the roll landing odd; a win returns $9 in total. You can buy as many tickets of either type as you like. If your goal is to maximize expected profit, what is the right amount to wager? | Probability | Free |
| Priced In to Call In a home poker game the pot has grown to when your last remaining opponent bets into it. Reading the board and her range, you put your chance of winning the hand at if you call and see it through, with no further betting after the call. Is calling the profitable? Show the expected value. | Finance | Free |
Quantitative Evaluation
Accuracy is weighted over raw speed
What to expect
- 16 questions in 20 minutes, mixing logic problems with brain-teaser puzzles.
- Linear systems of equations, expected value in game scenarios, and optimal-path grid puzzles.
- Algebra and geometry appear here alongside probability and statistics.
- Answer with integers or fractions. Decimals may be marked wrong.
- Getting fewer questions right beats rushing all sixteen, since accuracy carries the weight.
How to prepare
- Work timed sets and write every answer as an integer or an exact fraction until decimals stop occurring to you.
- Drill expected value in dice, card and coin games, plus lattice and grid-path counting.
- Practise abandoning a question you cannot finish rather than burning the clock on it.
Phone rounds
Technical questions arrive without warning
What to expect
- Calls with a recruiter and with members of the trading team.
- Expect at least one probability or expected-value question, asked conversationally.
- It arrives without warning, in the middle of an otherwise ordinary conversation.
How to prepare
- Treat every call as technical. Have paper in front of you before you pick up.
- Rehearse talking through an expected-value calculation from a standing start.
Onsite at Bala Cynwyd
Starts the evening before, over dinner
What to expect
- A pre-dinner with a young trader or quant researcher the evening before.
- Tours of the building, the data centre and the trading floor.
- Several one-hour quant rounds, including AKQ: a three-card poker model where you solve bluffing and calling frequencies.
- A data-discussion round of about 75 minutes on expected value and expectation-variance trade-offs.
- A live Acey-Deucey hand: two cards are dealt face up, and you bet on whether the third falls strictly between them.
- The wider the gap between those two cards, the better your odds, so the real question is how much to bet at each spread.
- Market making: quote a bid and an ask on an uncertain value, then update as information arrives.
- A trader trades against your quote and asks you to justify every choice you make.
How to prepare
- Learn the AKQ game cold: derive the bluffing and calling frequencies, do not memorise a result.
- Play Acey-Deucey for stakes you feel, so sizing to the spread is a reflex.
- Quote two-sided markets out loud and defend the width, because you will be asked to.
More reported SIG questions
| Question | Category | Access |
|---|---|---|
| Counting the Digits of a Giant Product Without multiplying it out, work out how many decimal digits the number has. | Reasoning | |
| The Monotone Draw Payout A lottery drum holds balls numbered through . After a thorough mixing, five balls are drawn out one at a time. A ticket costs and pays if the five numbers emerge in strictly increasing or strictly decreasing order; otherwise it pays nothing. What value of makes the ticket exactly break-even in expectation? | Probability | |
| Token on the Tiles A carnival game uses a board of painted squares, each square measuring inches per side. A player flicks a circular token of diameter inch so that its center lands uniformly at random somewhere on the board. To win, the token must sit entirely inside one painted square — touching or crossing any painted gridline, or hanging off the board's outer edge, loses. What is the player's probability of winning? | Probability | |
| Soldering Robot with a Repeat Limit A soldering robot travels across a circuit board from pad to pad , moving one unit at a time either right or up . Its firmware refuses to execute the same direction three times consecutively — at most two identical moves may occur in a row. How many move-sequences satisfy this constraint? | Probability | |
| Locking In a Riskless Dollar Shares of Helios Robotics will do exactly one of two things by tomorrow's open: double, or fall by half. Separately, a colleague is happy to take either side of an even-money (1:1) wager on which direction the stock moves. Suppose you put whole dollars into the stock and stake whole dollars on the wager, choosing sides so that your total profit comes out identical whether the stock jumps or drops. What are the smallest whole-dollar values of and that lock in a positive profit either way? | Finance | Free |
| Outsmarting the Auditor Cards numbered through lie face-up on a desk. You play against an auditor under one rule: you may claim card only while at least one proper divisor of is still on the desk. The instant you claim , the auditor confiscates every proper divisor of that remains. Play stops when you have no legal claim left, and the auditor pockets everything still on the desk. For a general , describe a strategy that makes your total as large as possible, and explain the reasoning behind it. | Math | |
| Pricing the Envelope Hunt A street performer fans out four identical sealed envelopes; exactly one contains a note and the other three are empty. You tear envelopes open one at a time, paying a fee of dollars for each one you open, and you quit the moment the note appears. At what fee does neither side hold an edge — that is, the game has zero expected profit? | Probability | |
| Clearing the Tightrope Five hundred point-sized beetles land at independent, uniformly random spots on a taut 1-foot wire. Each one immediately flips a fair coin to pick a direction and crawls at 1 foot per minute. Whenever two beetles meet head-on, both instantly turn around and continue crawling; a beetle that reaches either end of the wire drops off. How long, in expectation, until the wire is completely clear? | Probability | |
| One Roll from the Bargain Bin A game shop's bargain bin holds three fair dice: a three-sided die with faces 1–3, a four-sided die with faces 1–4, and an ordinary cube with faces 1–6. You grab one die uniformly at random and roll it once. Without listing individual outcomes, find the expected value of your roll. | Probability | |
| Eight Rings and a Pan Balance A jeweler has gold rings that look identical, but exactly one contains extra metal and is a bit heavier than the rest. Using only a two-pan balance (no weights), how few weighings guarantee finding the heavy ring? | Reasoning | Free |
| The Middle Sensor A weather station carries three redundant thermometers whose readings are independent and uniformly distributed on . To resist outliers, the station logs the median of the three readings. What is the probability that the logged value falls between and ? | Statistics | |
| Quoting the Domino Box An interviewer slides a sealed box across the table: a standard double-six domino set, every tile distinct. "Make me a market on the number of tiles inside — then tell me the exact fair value." A double-six set contains every possible tile whose two ends each show between and pips, with no tile repeated. How many tiles is that, and how should you quote before you've worked it out exactly? | Reasoning |
FAQ
What is on the SIG Quantitative Evaluation?
Sixteen questions in twenty minutes, mixing logic problems with brain-teaser puzzles. Expect linear systems of equations, expected value in game scenarios, and harder puzzles such as finding the optimal path across a grid, with algebra and geometry alongside the probability and statistics.
Why do decimals get marked wrong on the SIG assessment?
The assessment expects answers as integers or fractions, so a decimal can be marked wrong even when the underlying work is right. Practise writing every answer as an exact fraction, because 1/4 is safe where 0.25 is not.
Do you need to play poker to get hired at SIG?
No. New hires are taught poker after joining, on the view that it trains the probability-based decisions markets demand. Poker mechanics do appear in the interview. AKQ is a three-card poker model used to derive optimal bluffing and calling frequencies, and Acey-Deucey deals you two cards face up and asks whether the third will fall strictly between them, with your bet sized to the gap. Neither assumes prior poker experience.
What happens at the SIG onsite?
The Bala Cynwyd onsite starts the evening before with a dinner with a young trader or quant researcher. The day itself covers tours of the building, data centre and trading floor, several one-hour quant rounds including the AKQ betting game, a data-discussion round of about 75 minutes on expected value and expectation-variance trade-offs, and a live Acey-Deucey hand, where you bet on whether a third card lands between the two already showing.
