I landed a full-time offer at Microsoft last week. The process was similar as you mentioned.
Microsoft worries a lot about their candidates and for me that meant two tutorial interviews were they guided us on how to prepare for the real ones. The book “Cracking the Coding Interview” is a must but not everything is technical, good soft skills are a huge plus. In my case there was a first skype interview with a co-programming screen were my interviewer could see what i was coding. After that they sent me to Argentina (i’m fron Chile) for the four 45-min interviews in 4 hours straight with the same structure as you mentioned.
Even if you don’t land a job offer, the experience is awesome and you don’t loose anything trying!
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