J.P. Morgan Associate - Quantitative Research Interview Questions | Glassdoor

J.P. Morgan Associate - Quantitative Research Interview Questions

Interviews at J.P. Morgan

51 Interview Reviews

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Helpful (1)  

Quantitative Research Associate Interview

Anonymous Interview Candidate in New York, NY
No Offer
Neutral Experience
Average Interview

Application

I applied online. The process took 2+ months. I interviewed at J.P. Morgan (New York, NY) in January 2017.

Interview

Two rounds of phone interview and finally superday at New York branch. Had to wait for three weeks before they got back to me after Superday. Total time line around 2 months for a 10 week program -- pretty ridiculous ! Summary: Even if interview went very well do not assume guaranteed offer.

Interview Questions

  • Derive Black Scholes/ Sample mean and confidence intervals/ Forward contracts/ plenty of Stochastic calculus in Superday/ Basic probability - coin toss (probability of getting two sixes in a row in 3 tosses)   Answer Question

Other Interview Reviews for J.P. Morgan

  1. Helpful (24)  

    Quantitative Research Associate Interview

    Anonymous Interview Candidate in New York, NY
    No Offer
    Positive Experience
    Difficult Interview

    Application

    I applied through college or university. The process took 4+ weeks. I interviewed at J.P. Morgan (New York, NY) in January 2017.

    Interview

    Two rounds of 45-min phone interviews and a superday with three interviewers. The first two rounds are held by associates and you will be asked typical quant interview questions, including stochastic calculus, differential equations, probabilities, financial math, etc., and I think reading one or two sample questions books will suffice. Superday interviewers are more senior and will ask much more fundamental, open-ended questions; take your time to review what you learned and make sure you understand them thoroughly. Throughout the process, not a single behavioral question was asked, so doesn't matter what kind of person you are.

    Interview Questions

    • 1) 100 ants are uniformly placed on a [0,1] line, and they randomly travel toward either 0 or 1. When one collides with the other, they exchange directions. Assuming that each ant travels at the speed of 1 per hour, how long would it take for the last ant to reach the either end?

      2) What is E(exp(Wt)), E((Wt)^4),... where Wt is a standard Brownian?

      3) What is a martingale? Is E(Wt^2-t) a martingale? why?

      4) How would you simulate a covariance matrix of 1,000 stocks where each pair has nonzero correlation?

      5) Write down a black-scholes equations. What is delta, and how does it change when it approaches the maturity?   Answer Question

  2. Helpful (1)  

    Quantitative Research Associate Interview

    Anonymous Interview Candidate in New York, NY
    No Offer
    Positive Experience
    Average Interview

    Application

    I applied online. I interviewed at J.P. Morgan (New York, NY) in January 2017.

    Interview

    The interview is not hard. But still some trick questions. Simple questions like what's the moment generating function, what's Brownian motion. Also with the famous stick to triangle question. He said there may be more interviews for me even a "super day" if I did well in the 1st interview.

    Interview Questions

    • Probability, normal distribution properties, Brownian motion...   Answer Question
  3. Helpful (11)  

    Quantitative Research Associate Interview

    Anonymous Employee
    Accepted Offer
    Positive Experience
    Average Interview

    Application

    I applied online. I interviewed at J.P. Morgan.

    Interview

    it was a 50 min telephone interview, half of it was about my resume (mostly about the trading experience and my master thesis) and the other half was on three math and algorithm and finance questions.

    Interview Questions

    • given a function that generates a random integer between 1:5 , how can we generate a random integer 1:7   3 Answers
    • how can you construct an arbitrage given these two call options(same maturity) :
      C1: strike 40, prize now 4
      C2: strike 30, prize now 3   1 Answer

  4. Helpful (1)  

    Quantitative Research Associate Interview

    Anonymous Employee in New York, NY
    Accepted Offer
    Neutral Experience
    Average Interview

    Application

    I applied online. The process took 4+ weeks. I interviewed at J.P. Morgan (New York, NY) in December 2017.

    Interview

    T+0: a phone call from NYC and tell you that the interviewer wants to have an interview with you in two days.
    T+2: phone interview, including basic coding skill and stats knowledge
    In two weeks: an on-site interview, 3 rounds in all.

    Interview Questions

    • Including machine learning, simple coding and probability   Answer Question

  5.  

    Quantitative Research Associate Interview

    Anonymous Employee in New York, NY
    Accepted Offer
    Positive Experience
    Difficult Interview

    Application

    I applied through college or university. The process took 4+ weeks. I interviewed at J.P. Morgan (New York, NY) in February 2011.

    Interview

    After one phone interview shipped me on site. Went through 7 interviewers total. Asked mostly option pricing and simple algorithm questions.

    Interview Questions

    • If implied volatility is lower than realized, how does one make money hedging a call option?   2 Answers

    Negotiation

    There is none.


  6. Helpful (6)  

    Quantitative Research Associate Interview

    Anonymous Interview Candidate in New York, NY
    No Offer
    Positive Experience
    Difficult Interview

    Application

    I applied through an employee referral. The process took 4 weeks. I interviewed at J.P. Morgan (New York, NY) in June 2010.

    Interview

    two phone interviews, two onsites, no offer. Phone interviews were easy, resume + some quick questions. First site has the math and c++ tests, each 45 mins. along with six 1:1 interviews, 45 mins each. Second onsite got six 1:1 interviews again.

    Interview Questions


  7. Helpful (2)  

    Quantitative Research Associate Interview

    Anonymous Interview Candidate in New York, NY
    No Offer

    Application

    I applied online. I interviewed at J.P. Morgan (New York, NY).

    Interview

    1st round phone interview. go through resume+macro+C++ + monte carlo simulation + stochastic calculus. though a lot of stuff, but very basic.

    Interview Questions

  8. Helpful (24)  

    Associate - Quantitative Research Interview

    Anonymous Employee in New York, NY
    Accepted Offer
    Positive Experience
    Average Interview

    Application

    I applied through college or university. The process took 2 weeks. I interviewed at J.P. Morgan (New York, NY) in February 2017.

    Interview

    Networking event then three interviews for the superday. Only three rounds, but the interviewers were more senior, and had totally different styles. Not as technical as the first two rounds, but required candidates to have very good understanding of finance and pricing. It is better to prepare your story and lead them to the field that you are really good at.

    Interview Questions

    • ED
      1.Option payoff: (Max(s1,s2),0)+, find the p1,2 that could maximize the payoff(p1,2 = -1)
      2.Option payoff: 1(s>k), use which model to price it

      VP
      3.go through your resume
      4.internship experience, discussed a strategy I developed before, asked a lot details
      5.assumptions of OLS
      6.why no multicolinearity; how to check multicolinearity (VIF), definition of VIF statistic, other methods without checking VIF? (large r squared, but none of the parameters is significant)
      7.stepwise
      8.arma, acf and pacf plots, very detailed
      9.probability problem, conditional probability
      10. expected time to clean up 100 dirty apples in a bag, pick one each time

      ED
      11.go through your resume
      12.my exchange experience
      13.internship experience
      14.probability, classic 3 doors problem, should I switch
      15.conditional probability
      16.BS equation, why no u? (no arbitrage)
      17.difination of brownie motion   Answer Question

  9. Helpful (2)  

    Associate - Quantitative Research Interview

    Anonymous Interview Candidate
    No Offer
    Negative Experience
    Average Interview

    Application

    I applied online. The process took 2+ months. I interviewed at J.P. Morgan in December 2016.

    Interview

    This is an internship interview. I took two round phone interview. Both round interviews focused on my resume and then asked some technical questions. In the second round, the interview schedule was very confusion. On Thursday morning, I received two phone calls from JP Morgan which told me that they would interview me for the second round. I thought I need to be interviewed by two people. I had one in that afternoon with the first guy, and scheduled another one on next Monday with the second guy. On Monday, I did not receive a call on time, so I called the second guy. He told me that I had finished the second round, and he did not need to interview me. They were very unprofessional for my interview. Firstly, they did not make a proper arrangement who will interview me. Secondly, they did not tell me the second interview was canceled.

    Interview Questions

    • Virtual function, two consecutive 6 of dice, linear regression, data structure.   Answer Question

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