The autumn recruitment season has entered a white-hot stage. As a Top-Tier Quant Fund,Squarepoint (SQP) This year’s Bar is still breathtakingly high. We have just assisted a student from Columbia MFE to successfully obtain an Onsite invitation from SQP. It can be said that the Squarepoint capital interview is a three-dimensional meat grinder for CS algorithms, probability statistics, and financial mathematics. If you only swiped LeetCode, or only memorized the "Green Book", there is a high probability that you will be swiped in Round 2.
Today, the Chief Technology Team of ProgramHelp (composed of senior employees from Ex-Google, Citadel, and Two Sigma) will give you an in-depth review of this newly released set of real questions for the class of 2025, and will help you dismantle the underlying logic of the Quant interview.
First round: Telephone interview (basic ability screening)
The pace of this round is fast, and the main purpose is to judge:
Whether probability and statistics pass the test + whether programming can be written correctly + whether thinking is clear
Question 1: Probability & Statistics (required test type)
Problem
You have a biased coin with probability P Of landing heads. You flip it N Times.
What is the expected number of consecutive pairs of heads?
Core test points
- Indicator Random Variable
- Linear expectation (very important)
Question 2: Coding — Moving Average (classic but not overturned)
Problem
Implement a function to calculate the moving average of a stream of integers with a given window size.
Standard solution
- Sliding Window
- Use
DequeMaintenance window - Also maintain the current window and
Complexity
- Time: O(1) per operation
- Space: O(k)
This is not a test of algorithm difficulty, but:
- Whether it is possible to writeClean, maintainable, bug-free code
- Whether it can proactively handle edge cases (when the window is not full)
Topic 3: Brain Teaser (logical reasoning)
Problem
25 horses, race 5 at a time, no timer.
Find the 3 fastest horses.
Minimum number of races?
Answer: 7 games
Key ideas
- The first 5 games will determine the internal rankings of the 5 groups.
- Then based on the results between the group champions, the top three candidates are narrowed down
- The essence isInformation theory + sorting pruning
The interviewer values you more:
- Can you explain the reasoning process clearly in a structured way?
- Instead of memorizing the answer directly
Round 2: Technical aspects (mathematics + algorithm + financial fundamentals)
This round it is obvious that the distinction begins “Question-answering contestants” vs. “Quantitative candidates”
Topic 4: Mathematical Modeling (GBM)
Problem
A stock follows geometric Brownian motion.
Derive P(ST>K)P(S_T > K)P(ST>K).
Practice
- Normalize ln(ST/S0)\ln(S_T / S_0)ln(ST/S0)
- Convert to normal distribution probability problem
The interviewer will ask:
- The difference between drift and risk-neutral
- How to understand μ in the context of pricing vs forecasting
Topic 5: Algorithm — Stock Trading with k Transactions
Problem
Max profit with at most k transactions.
Solution
- Dynamic Programming
- Two states:
Buy[j],Sell[j]
This is the kind:
"Everyone has seen it, but many people can't understand the meaning of the status." Question
The point is not the formula, but:
- Can you explain the definition of "a transaction" in the state
- Whether initial conditions and boundaries are considered
Topic 6: Statistical Inference (Classic Statistics)
Problem
Normal distribution, unknown mean & variance.
Construct confidence interval for the mean.
Topic 7: Portfolio Optimization (Markowitz)
Problem
Minimize risk for given expected return.
Method
- Lagrangian
- Constrained optimization
Frequently asked questions:
- What if Σ is irreversible?
- How to do regularization in reality
Round 3: On-site interview (Trading + Research thinking)
This is the most “quantitative” round.
Topic 8: Market Making Strategy
Core inspection
- Market microstructure
- Inventory risk
- Adverse selection
- Order flow toxicity
A good answer will definitely mention:
- Spread dynamic adjustment
- Inventory skew
- Strategy changes under different market conditions
Topic 9: Risk Management
Focus
- Market risk: VaR/ES
- Model risk: backtest + stress test
- Liquidity/concentration risk
Interviewers prefer to hear:
"How would I monitor these risks in real trading"
Question 10: Autocorrelation Test
Common methods
- Ljung-Box
- Durbin-Watson
- ACF
Bonus points:
- Mentioned multiple testing
- Mention regime-dependent autocorrelation
Topic 11: Coding — Limit Order Book
Difficulty
- Data structure design
- Price-time priority
- Partial fill
This is obvious:
System design + coding comprehensive questions
Topic 12: Signal Decay (Research question)
Open question direction
- Regime change
- Market structure evolution
- Feature engineering
- Adaptive / ensemble method
Squarepoint values:
- Are you thinking like a researcher?
- Instead of just "adjusting parameters"
Don’t let this hard question ruin your $200k+ offer
Squarepoint’s starting salary (Base + Bonus) is usually $200k – $300k Even higher. Faced with such a high-reward opportunity, are you willing to take the risk of being "inadequately prepared" and take the exam naked?
ProgramHelp Core advantages:
- Top combat power: Our coaches come from Jane Street, Citadel, and Google, and are well versed in the interviewer’s psychology of asking questions.
- OA full coverage: CodeSignal / HackerRank / AMCAT real-time assistance, guaranteed scores and passes, no worries about duplication checking.
- VO runs with you: Live screen sharing + voice assistance. When the interviewer asks "How to manage risk?", we are the strongest brains behind you.
Return on investment (ROI) calculation: A high-quality interview assistance = hundreds of dollars of investment = A $250,000+ Offer Ticket.
Still anxious about the interview? Contact ProgramHelp now to make an appointment with the master. We will win this battle with you.
