Brokerage Services interview questions | Glassdoor

# Interview Questions

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## Interview Questions

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Sep 28, 2010
 What is 29^2?4 Answers841Mental math. You could do it mentally. 29 is close to 30. So the upper bound is 30*30 = 900. You would have to subtract 30 and 29. 900- 59 = 841.or, take 29 x 30 to get 870. Take away one 29, get 841. Same idea, but more elegant. You've multipled 29 thirty times, you only need 29 of them, so take one away.Show More ResponsesEasiest way I can think of is to mentally calculate (30-1)(30-1) and then mentally foil the answers. You end up getting 900 - 30 - 30 + 1 = 841 which is pretty easy to do in your head.

Jul 3, 2009
 If you have a deck of cards split into 4 piles and was offered 1:1 odds to draw a face card (J Q K A) from at least one of the piles, would you take the game? Why or why not?4 AnswersNo, basic statisticsI'm no expert but I don't see it that way. You lose the game if you draw non-face cards from all 4 piles. The probability of that is 39/52*38/51*37/50*36/49 = 30%. So you have a 70% chance of winning the game.Yes, play the game at 1:1 odds. There are 16 face cards and 4 equal piles of 13 cards. By adding the probabilities of drawing a face card from at least 1 pile, you get 16/13. (1/13 + 1/13 + 1/13 + 13/13, or 4/13 + 4/13 + 4/13 + 4/13, and so on)...Doesn't matter how the face cards are arranged in the 4 piles. Thus, you would be willing to play the game at 1:1 odds.Show More ResponsesIf there are 4 piles and you can look at all of them then it's obvious that you're going to take it - all the cards are there. If the question is to take the top card of each of the piles, then it's equivalent to finding the probability of a face card in 4 cards dealt. That is equal to 78.25%. So you would take the bet. (Total = 52 choose 4, Not Wanted = 36 choose 4, P(A face card) = 1-Total/Not Wanted) This is different from the answer given by the previous person because the numerator is wrong: he started at 39 when there are in fact 36 non-face cards (16 face cards - 52-16=36) If, however, the question is to pick one of the piles and then see if it has a face card, it is equivalent to randomly shuffling the deck and seeing if there is at least one face card in the first 13 cards. The probability of not having a face card is 0.363% and thus, the probability of having a face card is 99.637% - this means you should take the bet. So while the question can be interpreted in different ways, you should find it that taking the bet is a good proposition. Another way to look at it is as follows: if we assume sampling with replacement, to make calculations easy, we basically have 4 (or 13, depending on how you view it), chances to pick at least one card with probability 4/13 of the deck. This means that the probability of what is asked is almost equal to 1-(9/13)^4=77.04% (really close to the first case) or almost equal to 1-(9/13)^13=99.16% (also really close to the first number).

Feb 20, 2012
 Roll a fair dice, if it's a prime number, you pay me that number times \$100, if it's not a prime number, I pay you that number times \$100. Consider 1 as a prime number. How much willing to pay to play this game.7 Answersanything below \$387.50Don't be surprised if you have not been employed. The question is "what is the expected return of this game?": E[X]=Sum(P(Xi)*Xi)=1/6*(-1*100+2*100+...)=50\$ Esco910, we make a deal when you want, I have always dreamed about to buy a ferrari2 is a prime number, and the expected value is less than 0. So I wouldn't play this game.Show More Responses\$50 is correct, the others are wrong. You would play this infinitely many times because on average, you are printing money.If you consider 1 to be a prime number then \$50 is the expected value.. but mathematicians do not consider 1 to be prime. Since 1 is NOT a prime number then the EV = (1/6)(100 + 200 - 300 + 400 - 500 + 600) = 83.3333333. But to pay less than that amount for 1 try is not very practical. In the interview it is wise to ask "how many times do i get to play this game since the EV is high?" If they say once, you'd be a fool to pay \$83 to play this game only once.. What would you really pay to play once? Twice? 10 times? 100 times? 100,000 times? 1,000,000 times? Infinite? It's about perception, but clearly as the number of times you play goes up then you would pay more to play each time. Mathematics is not always the solution in trading. This is a very good question to ask... anyone can calculate EV but it's definitely not about that. EV only tells you what's going to happen over time.2 is definitely a prime number... the expectation is less than 0Since there seems to be some confusion here is a list of all outcomes and there values 1: -100 2: -200 3: -300 4: +400 5: -500 6: +600 Since they are all equally weighted (1/6) we can average. -100/6= -16.66666 You wouldn't pay to play this game.

Jul 6, 2012
 If the clock is at 9:30, what angle is it at?6 Answers9:00 = 90* 3 = 270 degree 0:30 = 90 / 6 = 15 degree Therefore 9:30 = 285 degreeIsn't it 90 + 15 = 105 degrees?Yea its 105 degreesShow More Responsescan you explain the 105? isnt it just 90 between the 9 and 6 on the clock face?It's 90 degrees between 9 and 6 o'clock but the hour hand will move half way towards 10. Since there's 3 hours between the 9 and 6 we can say 1 hour = 90/3 = 30. The initial 90 degrees + the additional (1/2)*30 = 105 degrees.90+((360/60)*2.5)=105

Jun 12, 2012

Sep 11, 2009
 How many times will you write 'nine' if you wrote out the numbers 1 to 100?6 Answers20The correct answer is 11correction to the above, if you're writing the numbers with letters as opposed to numerically the correct answer is 10.Show More Responses9,29,39,49,59,69,79,89,99...19 isn't one..so 9Why wouldn't you count 90, 91, 92, etc?divide the 100 numbers to 10 groups just in natural order, group 1-9 each has a "9",eg 9,19,...89, for group ten, there are 10 "9"s, 91,...99. So the total number is 9+10=19

### Equity Analyst Associate at Morgan Keegan was asked...

Jul 11, 2009
 How does raising capital by issuing equity affect the income statement?3 AnswersNot sure... I believe it would simply increase "other income"No effect on Income Statement.Increase in interest income, increase in shares outstanding

Dec 20, 2012