Old Mission Capital · Live Interview
Old Mission Capital Interview Questions & Prep
Old Mission Capital's first-round live interview is where strong written applications become offer pipelines or go nowhere. Below: the real questions Old Mission Capital asks, what they're testing for, and how to practise live until it feels routine.
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The format
What Old Mission Capital's live interview actually looks like
Where in the timeline it sits: Candidate reports suggest the live interview stage occurs after clearing the initial automated online assessments (such as HackerRank or timed probability platforms). It serves as the bridge between quantitative filtering and final onsite evaluations.
Format
Live conversation, phone or video. 30 to 45 minutes. One-on-one with a manager or senior associate.
Interviewers
Manager or senior associate from your target team.
Structure
Interviewers probe weak answers. The candidates who get through handle follow-ups confidently, not just the headline question.
Real questions
25 real Old Mission Capital interview questions
Pulled from past applicants. These come up regularly in the live round.
- 1
“How do you maintain concentration during repetitive, high-frequency tasks over many hours?”
- 2
“You hold an ETF basket consisting of three stocks with weights 50%, 30%, and 20%, trading at prices $40, $25, and $110. What is the basket value?”
- 3
“What is the probability of getting at least one six in four rolls of a fair die?”
- 4
“If you flip a biased coin with probability $p$ of heads until you get consecutive heads, what is the expected number of flips?”
- 5
“You are losing money on every trade you make today. Why are you keeping your quotes active?”
- 6
“Your model says one thing, but your trading intuition says the opposite. Which do you trust?”
- 7
“If I force you to widen your spread by ten times, what happens to your volume and P&L?”
- 8
“Describe a situation where your initial assumption about a problem was proven wrong. How did you react?”
- 9
“How do you handle sustained periods of high mental fatigue during repetitive tasks?”
- 10
“Describe a time you failed to meet a target or deadline. What did you learn?”
- 11
“How do you prioritise tasks when everything is marked as high priority?”
- 12
“Describe a situation where you noticed an error in a peer's work. How did you address it?”
- 13
“What is the most difficult feedback you have ever received, and how did you act on it?”
- 14
“Describe a time you worked under severe time constraints. How did you maintain accuracy?”
- 15
“How do you manage your emotions when trades or technical deployments go wrong?”
- 16
“What motivates you to perform at your best when working independently?”
- 17
“What is the probability of drawing two aces consecutively from a standard 52-card deck without replacement?”
- 18
“You hold an ETF basket with weights 40%, 40%, and 20% trading at prices 50, 30, and 100. What is the basket value?”
- 19
“How do hash tables handle collisions, and what is the worst-case time complexity for lookups?”
- 20
“What is adverse selection, and how do market makers adjust their quotes to mitigate it?”
- 21
“If you flip a biased coin with probability $p$ of heads, what is the expected number of flips until you see two consecutive heads?”
- 22
“How do you hedge an ETF portfolio when underlying markets are closed?”
- 23
“What is the difference between multi-threading and multi-processing in Python, and how does the GIL affect performance?”
- 24
“How does a market maker manage inventory risk when accumulating a large directional position?”
- 25
“What causes an ETF to trade at a persistent discount during periods of market stress?”
The rubric
How Old Mission Capital scores you
The interviewer is checking against a scorecard. Knowing the categories is half the battle.
Aggregation. Core Competencies: Interviewers score candidates across mathematical velocity, probability reasoning, coding hygiene, commercial intuition, and cultural humility. Aggregation: Feedback from each interviewer is logged independently in a central tracking system. Hiring decisions require consensus across participating desk members.
How to practise
Live AI mocks tuned to the firm
Conversational mocks that read your CV, ask Old Mission Capital-specific questions, push back when answers are weak, and produce a scored report.
- Reads your CV first. Vyo pulls real lines from your CV ("walk me through that deal you mentioned") instead of asking the same five questions everyone gets.
- Follows up where answers are weak. Weak on numbers? Vyo digs. Vague on motivation? Vyo digs. No two runs are the same.
- Matches Old Mission Capital's interview style. Friendly chat, professional grilling, or full-pressure. Calibrated to how Old Mission Capital actually runs the round.
- Annotated transcript after every run. Strong lines green, wobbles amber, red flags red. Specific notes on what to fix and how to say it next time.
Lazard · IB Analyst
Technical Interview · CV-aware
Interviewer
I see from your CV you completed Spring Week at Lazard. Walk me through a deal you observed during that placement.Interviewer
You mentioned trading comps. Walk me through how the peer set was selected, what criteria were used, and were there any borderline cases?Full report when you end
Why candidates fail
How candidates lose the Old Mission Capital live round
Specific failure patterns documented across past applicants. Most are avoidable with focused preparation.
- 1
Could not handle follow-ups on weak answers
When challenged on an incorrect calculation, candidates argued defensively rather than working backward to find the error.
- 2
CV inconsistencies surfaced
Claimed mastery of programming languages or mathematical frameworks that collapsed under basic technical probing.
- 3
Failed to reference Old Mission Capital concretely
Answered questions with generic proprietary trading platitudes without demonstrating knowledge of ETF market making.
- 4
Poor questions at the end
Asked superficial questions about perks or working hours instead of engaging with market structure, technology stack, or risk management.
- 5
Rigid mathematical thinking
Relied purely on rote formulas without developing intuitive checks for numerical answers.
- 6
Lack of inventory awareness
Treated market making as a static academic exercise rather than dynamic risk management of long and short positions.
- 7
Communication breakdown
Solved problems silently without explaining their internal thought process to the interviewer.
- 8
Overconfidence
Dismissed interviewer hints or corrections during interactive market-making simulations.
What works
What separates candidates who pass
Concrete moves drilled by candidates who clear the cut, drawn from applicant accounts and recruiter feedback.
CV walkthrough memorised
Delivered a crisp, two-minute summary of past projects without filler words or hesitation.
Anchor stories drilled cold
Prepared three to four flexible behavioural examples using the STAR method that adapt to multiple competency prompts.
Specific Old Mission references
Spoke fluently about ETF creation units, fund plumbing, and the firm's independent structure.
Mental math fluency
Executed multi-decimal weighted basket calculations in under ten seconds with zero errors.
Collaborative problem solving
Treated the interviewer as a partner during complex probability puzzles, verbalising assumptions clearly.
Grace under pressure
Remained calm and composed when intentionally pressured or given contradictory prompts.
Insightful final questions
Asked sharp, technically grounded questions about liquidity provision, exchange fee dynamics, or technological scaling.
Thank-you note discipline
Maintained prompt, professional communication with recruiting coordinators without crossing into excessive persistence.
What gets you through
Five moves that decide the interview
- 01Have a CV walkthrough rehearsed. Two-minute version of your CV that connects every role to why this firm. Most interviews open with "walk me through your CV". Knowing yours cold is the foundation.
- 02Three anchor stories. Prepare three behavioural stories that demonstrate multiple competencies each. Reuse them, reframe them. You will get further than candidates with one story per question.
- 03Plant follow-ups in your answers. End answers with a hook the interviewer can dig into. "Happy to walk through the modelling if useful" turns one question into a longer conversation on your terms.
- 04Reference Old Mission Capital concretely. Specific deal, division, recent news, a person you spoke to at an event. "I admire the brand" loses to "I followed your work on the X transaction".
- 05Have two smart questions ready. For the "any questions for me?" close. Not generic ("what is the culture like"), specific ("what is the typical analyst staffing model on a cross-border M&A deal here").
FAQ
Old Mission Capital interview questions, answered
How should I schedule my live interview if I am studying at a UK university?
Coordinate directly with the recruiter. They generally offer flexible slots across UK working hours to accommodate academic timetables.
What technical setup is required for video interviews?
A reliable high-speed broadband connection, a functional webcam, a quiet room with a neutral background, and a clean code editor or digital whiteboard link ready if requested.
What is the expected dress code for video interviews?
Business casual or standard professional attire. A collared shirt or smart jumper is appropriate.
Where should I focus my eye-line during video calls?
Look directly into the camera lens when speaking to simulate direct eye contact with the interviewer.
What should I do if I am asked a question I do not know?
Do not guess wildly or bluff. State your immediate assumptions clearly, explain your initial reasoning, and talk through how you would approach breaking down the problem from first principles.
Are calculators permitted during mental math and probability sections?
No. Calculators are strictly prohibited. All arithmetic must be performed mentally or via rough notes on paper.
How long after the live interview should I expect to hear back?
Candidate reports suggest feedback is typically communicated within one to two weeks.
Should I use pen and paper during video technical rounds?
Yes. Having blank paper and a pen ready to jot down probability states, equations, or basket weight totals is essential.
How should I prepare my questions for the end of the interview?
Prepare specific questions regarding ETF market structure, risk management workflows, or technological scaling rather than general HR queries.
What is the best way to practice mental arithmetic for this process?
Use dedicated quantitative drill platforms to practice rapid multi-decimal addition, multiplication, and percentage calculations daily under strict time constraints.
The other rounds
The rest of the Old Mission Capital process
Live interview is one of four rounds. Practise each one free on Intervyo.
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Intervyo is not affiliated with or endorsed by Old Mission Capital. Interview questions are sourced from past applicants and the firm's published guidance; verify on the firm's careers site. Sector: Graduate Scheme.
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