SIG Online Assessment – Practice Questions and Tips

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The SIG Problem Solving Assessment is the first screening phase for trading and research positions at SIG, typically occurring before the first phone interview. It is administered by a third-party testing company called Mercer Mettl. The test is also known as the SIG Online Assessment, formerly the SIG Quantitative Evaluation.

This aptitude test features nine numerical questions, to be answered within 60 minutes. Like other trading companies, such as Optiver and Citadel, the SIG Online Assessment is considerably challenging.

Note: The SIG Problem solving Assessment used to be called the SIG Quantitative Evaluation. It featured 14 questions to be solved in 20 minutes. This is no longer the case.

The tests questions are mostly about probability, especially expected value. However, there will typically be at least one deductive logical question, and one single-variable calculus question. The assessment’s name betrays its primary purpose: to evaluate the candidate's ability to understand a problem and sketch optimal routes toward the solution, using their critical thinking skills.

Since mental maths are not the central focus of the exam, you will be allowed a calculator as well as draft paper and a pen. The main difficulty lies not in calculation but in approaching the question correctly and laying down operational steps to finding the answer effectively.

To this end, practice can make a significant difference. Read on to solve sample SIG problem-solving test questions, take our numerical practice tests, or read about other finance and investment banking assessments.

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Below, you will find three questions in the style of the SIG Online Assessment, in increasing difficulty. There are two expected value questions and one combinatorics question. Full solutions are provided. In addition, you will find general tips for the SIG Problem-solving Assessment.

Note: SIG Online Assessment questions are presented in multiple-choice or open-ended formats. In case of an open-ended question with a non-integer solution, you will be asked to submit your response in the most simplified fraction form.

Question 1

A deck of 18 custom playing cards is numbered from 1 to 18. A card is drawn 6 times with replacement. If X is the number of draws that result in a prime number, what is E(X)?

View Explanation

The answer is 7/3

This is a question of binominal distribution. We can think of each card draw as a trial. A successful trial is when a card with a prime number is drawn from the deck.

First, let’s compute the probability to draw a prime numbered card in a single draw. Within [1-18] there are 7 prime numbers (2,3,5,7,11,13,17). Thus, the probability to draw a prime numbered card in a single draw is

Since this is a binominal distribution, we can compute the expected number of card draws according to the following (n= number of draws):

Tip: This question requires you to understand the concept of binomial distribution. Other concepts of probability you should brush up on before the exam include combinatorial probability, expected values, and conditional probability. Combined, these will help you calculate the likelihood of various events.

Question 2

Three printers are independently printing pages. The first printer experiences a paper jam 25% of the time, the second printer 20% of the time, and the third printer 15% of the time. What is the probability that exactly two printers will have a paper jam on the same day?

View Explanation

19/200

This question combines combinatorial thinking with probability.

To find the probability that exactly two printers will have a paper jam, we need to consider all the possible scenarios in which two out of the three printers have a paper jam. Then, we will compute the sum of the probabilities of these scenarios.

Printer 1:

P(paper jam) = 0.25

P(no paper jam) = 0.75

Printer 2:

P(paper jam) = 0.2

P(no paper jam) = 0.8

Printer 3:

P(paper jam) = 0.15

P(no paper jam) = 0.85

Scenario 1:

Printers 1 and 2 have paper jam, and printer 3 doesn’t.

The probability for scenario 1 is:

0.25×0.2×0.85=0.04250.25×0.2×0.85=0.0425

Scenario 2:

Printers 1 and 3 have paper jam, and printer 2 doesn’t.

The probability for scenario 1 is:

0.25×0.8×0.15=0.030.25×0.8×0.15=0.03

Scenario 3:

Printers 2 and 3 have paper jam, and printer 1 doesn’t.

The probability for scenario 1 is:

0.75×0.2×0.15=0.02250.75×0.2×0.15=0.0225

Thus, the probability that exactly 2 printers will have a paper jam is the sum of probabilities of the 3 scenarios we listed:

0.0425+0.03+0.0225= 0.095= 19/200

Tip: Practise using a wide variety of question types. This will not only familiarise you with the different subjects covered on the exam, but also allow you to develop problem-solving abilities above-and-beyond specific topics or question types. Remember, the test is just as much about strategising and integrating knowledge as it is about maths.

Question 3

A Robot is trying to get from point A to B without overshooting. The robot is programmed to go up or right, and to always alternate its step size from moving 2 unit in a single direction to moving 3 units in a single direction. How many ways are there for the robot to arrive from point A to B?

View Explanation

Answer:20

Explanation:

First, let’s look at the facts of the question:

To get from A to B, the robot must move 17 units to the right and 5 units upwards = a total of 22 units.
The robot can only go up or right and constantly alternates its step between 2 and 3 units. Thus, it can either start with a 2-unit or 3-unit step.

Let’s see what happens when the robot starts with a 3-unit step:

3, 2, 3, 2, 3, 2, 3, 2 -> After 8 steps, the robot has passed 20 units, leaving only 2 units to the next step. Since the next step must be a 3-unit step and the robot can’t overshoot point B, we learn that starting with a 3-unit step isn’t possible.

Let’s see what happens when the robot starts with a 2-unit step:

2, 3, 2, 3, 2, 3, 2, 3 -> After 8 steps, the robot has passed 20 units. The next step of the robot must be a 3-unit step, which is the exact number of units remaining to reach point B.

Thus, we know the robot must start with a 3-unit step.

Now we need to determine how many different ways the robot goes from A to B according to the alternating speed pattern we found (2, 3, 2, 3, 2, 3, 2, 3, 2).

Since the robot can go upwards a total of 5 units (due to the limitations in the question), it must include one 3-unit step upwards and one 2-unit step upwards.

As we have already seen, the robot’s path consists of four 3-unit steps and five 2-unit steps.

For the 2-unit step upwards – the robot has five different options (since there are five 2-unit steps in its path).
Similarly, for the 3-unit step upwards– the robot has four different options.

Thus, the total number of possible paths that the robot can go from point A to B is 5x4=20.

Tip: Logical brainteasers like the third practice question require you to break the answer down into discrete steps. Practise this style of thinking by solving more logical problems, focusing on how to turn a complex solution into a manageable sequence of steps. You will find your results on the SIG Online Assessment much improved.

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Throughout your SIG recruitment process, you will typically be required to undergo three rounds of interviews: two over-the-phone and one face-to-face.

On paper, this is an HR interview to get to know you, your interpersonal skills, and your fit with the organisational culture.

In practice, the HR representatives are required to be well-versed in maths and probability, and you will face five technical questions in addition to personal questions. You can expect mainly probability questions, including expected values and Bayes’ theorem. These will be similar to questions you have already faced on the SIG Online Assessment, so there is no reason to worry.

Your second phone interview will be with a member of the SIG development team. It will be more competency based and require you to discuss your skills and knowledge.

Your final interview will be face-to-face and will aim to confirm your identity, skills, background, and expertise. By this point, you are very close to receiving an offer. Smile, be courteous, and get to know your (soon-to-be) coworkers.

Don’t Panic!
It’s easy to get lost in your own thoughts when required to solve technical problems in front of SIG hiring managers. Don’t fret. Remember, they are not looking for a solution, but rather for a calm and settled approach to problem-solving. Think out loud, share your thinking process with your recruiter, and work towards a solution in a paced gradual manner.
The Technical Section is Only Part of the Process
Candidates tend to focus on the technical aspect of the phone interviews. Remember, you are just as likely to be disqualified for interpersonal reasons as failure to answer technical questions. Be forthcoming, friendly, enthusiastic, and communicative. Ask questions about the company, its values, and its culture.
Remember Your LinkedIn Profile and CV
Your Interviewers at SIG will likely ask about items on your resume and possibly even your LinkedIn page. Be ready to talk about your experience and prepare to share past success stories with your interviewer. Consider styling your responses using the STAR Method.

If you are a candidate for any of the following positions, you will certainly be asked to take the online exam:

Quantitative Research and Quantitative Systematic Trading positions, Quantitative Evaluation, Capital Markets, Quantitative Trading and Strategy.

Firstly, it’s important to make sure you are familiar with the maths behind the assessment. The SIG Assessment includes questions about probability, deductive logic, and single-variable calculus.

Once you are sure you know the theory behind the questions, utilize practice tests to ensure you are capable of comfortably integrating and applying them to solve real word problems.

Firstly, it’s important to make sure you are familiar with the maths behind the assessment. The SIG Assessment includes questions about probability, deductive logic, and single-variable calculus.

Once you are sure you know the theory behind the questions, utilize practice tests to ensure you are capable of comfortably integrating and applying them to solve real word problems.

Master the SIG Online Assessment: Launch Your Career in Quantitative Trading with Our Practice Tests

What Is the SIG Problem Solving Assessment?

What does the SIG Online Assessment Measure?

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