Making progress when the situation is unclear
Question
Give an example of a situation that was highly ambiguous and explain how you handled it.
Short answer
Show how you created structure: clarifying the objective, gathering the information available, making explicit assumptions and acting. Describe how you checked those assumptions and adjusted as you learned more, and the outcome. Comfort with acting on incomplete information is the trait being tested.
Adapted from Crack, Heard on the Street, Q5.1.24, p.47; question and answer rewritten by SelfMadeQuant.com.
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