The First Cut Is the Deepest
Eight minutes, 80 questions. That is the reported format of Optiver's mental arithmetic test, and for thousands of applicants each autumn it is the entire interview: by some candidate accounts fewer than one in four clear it. Across the industry, the online assessment is where most quant applications end, usually within two weeks of applying.
This is odd, because candidates prepare backwards. They spend months on interview brain teasers they will never be asked, because the OA filtered them out in October. The OA deserves preparation in proportion to its position in the funnel: first, brutal, and largely standardised.
This guide covers what quant OAs actually test, then the reported format at each major firm - Optiver, IMC, SIG, DRW, Citadel, Jane Street, Virtu, Akuna, Two Sigma and HRT - and how to prepare for each style. One caution up front: firms change formats without notice, and everything below is drawn from candidate reports rather than official specifications. Treat it as a map from last season.
What Quant OAs Test
Nearly every quant OA is built from four ingredients, mixed differently by track.
Mental arithmetic under time pressure. Two-digit multiplication, fractions, decimals and percentages at a pace that punishes hesitation. Trading firms use this as a proxy for comfort with numbers when it matters. Speed here is trainable, which is exactly why firms test it; our mental maths questions drill this specific skill.
Probability and expected value. Dice, cards, coins, and increasingly short game scenarios: should you take this bet, what is the fair price of this payout. These test whether you reason about uncertainty natively or by formula.
Pattern recognition and logic. Number sequences, matrix puzzles (Raven's-style), and abstract reasoning items, often adaptive. Common in the Dutch market makers' batteries. Less trainable than arithmetic, but familiarity with the question grammar is worth real marks.
Coding. For developer, researcher and increasingly trader tracks: one to three algorithmic problems on HackerRank, CodeSignal or Codility, typically LeetCode medium to hard. Edge cases and efficiency both count, and partial credit rarely rescues a slow solution.
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Optiver
The most famous OA in the industry. Optiver's trading assessment leads with the "80 in 8": 80 arithmetic questions in 8 minutes, with wrong answers penalised (commonly reported as minus one mark against plus one). Candidate reports over the years put the effective bar somewhere around 50 to 60 net correct, which requires answering nearly everything you attempt accurately at under six seconds a question.
A second stage, often called Zap-N in candidate write-ups, covers number sequences and pattern logic, and some cycles add a personality questionnaire or a game-based round. Preparation is unambiguous: daily timed arithmetic drills for several weeks, practising with a penalty for errors so you learn when to skip. Full process details are in our Optiver interview guide.
IMC
Searches for "IMC OA" have climbed alongside the firm's graduate intake. IMC's assessment comes as a battery of short modules: speeded arithmetic, number sequences, and abstract pattern-recognition items, with a behavioural or situational-judgement module in some regions. The arithmetic is a touch gentler than Optiver's; the sequence and logic items are harder and often adaptive.
Engineering candidates get a coding OA instead, typically two problems in around an hour. For the trading battery, split preparation between arithmetic speed and untimed sequence puzzles, then add time pressure only once accuracy is high.
SIG (Susquehanna)
Susquehanna's online assessment reflects the firm's poker-influenced culture: reports describe multiple-choice probability and expected value questions alongside mental maths, with more emphasis on decision quality than raw speed. Questions about bets, bankrolls and fair prices are common, and some cycles include a short personality inventory.
The probability is elementary in content (a first university course covers it) but adversarial in framing; the wrong answers are the ones intuition reaches first. Practising expected value questions until pricing a simple bet is automatic is the highest-yield preparation.
DRW
DRW's trader OA is reported as a 60 to 75 minute mix: mental arithmetic, probability, and short market-intuition questions, with around a quarter to a third of candidates advancing. Software engineering candidates instead face two HackerRank-style algorithmic problems in about 90 minutes.
The market questions distinguish DRW's OA from the pure-maths batteries; a working grasp of what moves rates, equities and commodities helps. Our DRW interview guide covers the full pipeline from OA to superday.
Citadel and Citadel Securities
"Citadel online assessment" almost always means HackerRank. Reports consistently describe two to three algorithmic problems in 60 to 90 minutes for software engineering and quant research applicants, at LeetCode medium-to-hard difficulty, with hidden test cases where partial credit exists but full passes dominate outcomes. Some quant researcher tracks add multiple-choice statistics and probability questions.
The distinguishing feature is the bar: with applicant volumes in the tens of thousands, candidate folklore holds that anything short of all test cases passing is risky. Practise timed pairs of problems, and rehearse the discipline of reading constraints before writing code. See our Citadel interview guide for what follows.
Jane Street
Jane Street is the notable partial exception on this list. For trading roles the firm has historically gone straight to phone interviews rather than gating on a standardised OA, though some cycles and regions have reportedly used short online maths and logic quizzes, and its focus programmes use puzzle-based applications. Software engineering applicants may receive a take-home-style coding assessment in the language of their choice (OCaml not required).
If you receive one, expect probability and estimation in the firm's distinctive style: fewer questions, more depth, marks for reasoning rather than raw speed. The Jane Street interview guide covers the phone rounds that follow.
Virtu
"Virtu HackerRank" is the search term because that is the process: Virtu's OA for developer and quant roles is a HackerRank set, commonly reported as two or three problems in about an hour, mixing algorithms with occasional C++-specific or debugging questions reflecting the firm's low-latency stack. Reports suggest the difficulty is a notch below Citadel's, with more weight on clean, correct code than on exotic algorithms.
Brush up on standard data structures, know your chosen language's standard library cold, and if you claim C++ on your CV, expect it to be tested.
Akuna Capital
Akuna's assessments vary sharply by track. Developer candidates report HackerRank problems with language-specific questions (C++ for core roles, Python for data roles). Trading candidates face maths and probability batteries, and the firm is known for its Options 101 course, a self-paced options-theory module that some trading applicants complete as part of the funnel, with a quiz at the end.
The options material is a gift: it is the rare OA component where the firm hands you the syllabus. Complete it properly rather than skimming.
Two Sigma and HRT
The research-heavy end of the market. Two Sigma's OA is reported as HackerRank problems (commonly two in 60 to 90 minutes) for engineering, with quantitative researcher applicants sometimes receiving statistics and probability multiple choice instead. HRT's assessment reportedly leans hard on algorithms: candidate reports describe problems at the difficult end of the scale, consistent with a firm whose interviews are among the most demanding in the industry.
For both, the preparation is the same as Citadel's HackerRank track, tilted harder: timed hard-level problems, and for HRT specifically, comfort with performance-sensitive thinking rather than just correctness.
General Strategy
When to take it. Most OA links expire in 3 to 14 days. Take it early in the window but never cold: even two or three days of format-specific practice moves scores meaningfully. If you are applying to several firms, sequence them: take a lower-stakes OA first as a live rehearsal for the ones you care about.
How to practise. Arithmetic speed responds to daily drills on Zetamac-style timers, TradingInterview-style question banks and the drills on Quantt; two to six weeks of 20 minutes a day is the standard prescription. Coding OAs respond to timed problem pairs under contest conditions. In both cases, practise with the penalty structure you will face: if wrong answers cost marks, train the skip reflex.
Logistics. Stable internet, external mouse, silence, and a glass of water. Many OAs are webcam-proctored; read the rules so you do not lose a result to an accidental violation. Paper is usually allowed for maths batteries but check.
Quick quiz
OA strategy check
Mindset that survives the timer.
Best approach when stuck on an OA item?
After the OA
Results timelines vary from instant (some adaptive batteries) to several weeks. A pass typically routes you to a phone or video interview within a fortnight; silence for a month usually, though not always, means no. Most firms allow reapplication after 6 to 12 months, and OA failure rarely blacklists you.
Keep notes immediately after each attempt: formats, timings, question styles you struggled with. Your OA notes from October are the cheapest preparation you will ever have for next season, and the interview rounds that follow draw on the same skills at greater depth; our full quant interview prep guide picks up from here.
Where This Guide Goes Stale
The obligatory caveats, stated plainly. Everything above is assembled from candidate reports, forum accounts and public postings, not from the firms, and OA formats change between cycles without announcement: firms switch vendors, add game-based modules, retune thresholds and A/B test formats by region and track. Reported pass marks are folklore with survivorship bias baked in; people who pass write more posts than people who fail.
So treat the firm sections as strong priors, not specifications. The invariant part is the skill set: fast accurate arithmetic, native expected-value reasoning, pattern fluency and timed coding. Prepare those and format changes become cosmetic.
Compensation & recruiting notes
Assessment formats, thresholds and timelines described here are reported by candidates and public sources, not confirmed by employers, and change frequently. Nothing in this guide guarantees an assessment format, an interview or any recruiting outcome. Check each firm's official careers communications for current details.
Frequently Asked Questions
What is a quant online assessment?
The first screening stage of most quant applications: a timed online test covering some mix of mental arithmetic, probability, pattern recognition and coding, depending on the role. It typically arrives within days of applying and eliminates the majority of the applicant pool.
How hard is the Optiver 80 in 8?
By candidate reports, hard enough that a majority fail: 80 arithmetic questions in 8 minutes with penalties for wrong answers, and an effective bar around 50 to 60 net correct. It rewards several weeks of daily timed practice more than raw talent.
Is the Citadel OA on HackerRank?
Yes, by consistent candidate reports: two to three algorithmic problems in 60 to 90 minutes at LeetCode medium-to-hard level, with some researcher tracks adding probability multiple choice. Full test-case passes matter a great deal given applicant volume.
How do I prepare for mental maths OAs?
Daily timed drills for two to six weeks: Zetamac-style arithmetic timers, TradingInterview-style banks, or the equivalent drills on Quantt. Train with penalties for wrong answers so you learn when to skip, and track your net score rather than questions attempted.
Can I use a calculator or paper?
Calculators are almost never allowed on mental maths sections; that is the point of them. Rough paper is usually permitted but rules vary and many tests are webcam-proctored, so read each assessment's instructions before starting.
What happens if I fail a quant OA?
Usually a rejection for that cycle, with reapplication allowed after 6 to 12 months at most firms. Failing one firm's OA has no bearing on others, and many successful quants failed several OAs in their first season.
Do all quant firms use online assessments?
Most but not all. Jane Street has historically favoured going straight to phone interviews for trading roles, and some smaller funds screen by CV and referral. Everyone else on this page gates with some form of OA.
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