Jane Street

Interview Question

Trader Intern Interview
Jane Street

You are playing a game in which four fair coins are flipped, and the amount of money you receive in dollars equals the number of heads that appear. If you do not like the outcome of the first four flips, you may re-flip all four coins, but you must accept the result of the second set. Determine the fair value for the game.

Unlock the Full Solution

Enter your email to get instant access to the complete solution, explanation, and similar practice problems.

Insights on 100+ quant firms, understand where to apply, and maximize your chances.

Get the official 2025 QB Quant Firm Tier List

Check your email inbox — you should get the interview in 1-2 minutes!