The selection process is based on coding skills that require you to figure out algorithms in a very short amount of time. It's good to test how you respond under pressure, in terms of how calm you stay, however as for the typical questions of this type, they lack of solidity in showing the candidate ability to learn, real problem solving and other skills that are more valuable at work. They still use an old fashion approach to selection of candidates that anyway is suited for the type of work they offer. The interviewer was talking like he was in a rush and I don't think this process would work in any other type of organisation.