Aarvee Associates Assistant Manager Interview Questions, Process, and Tips

COS stands for Cost of Sales, which refers to the direct costs associated with producing goods or services.

• COS includes costs such as raw materials, labor, and manufacturing overhead.

• Stages involved in COS include identifying direct costs, calculating total COS, and analyzing COS to determine profitability.

• Example: If a company sells a product for $100 and the direct costs to produce that product are $60, the COS would...read more

EOT stands for End of Transmission. It is a signal used to indicate the end of a transmission of data.

• EOT is commonly used in telecommunications and computer networking to signify the end of a message or data transmission.

• It is represented by the ASCII control character with the code 04.

• EOT is often used in conjunction with other control characters like SOH (Start of Header) and ETX (End of Text) in communication proto...read more

A claim is a request made by an individual or entity for payment of benefits or services covered by an insurance policy.

• A claim is typically submitted by a policyholder or healthcare provider to an insurance company.

• It includes details such as the services provided, dates of service, and the amount billed.

• The insurance company reviews the claim to determine if it meets the policy's coverage criteria.

• Once approved, the ...read more

RFI stands for Request for Information, which is a formal process used to gather information from potential suppliers or vendors.

• RFI is typically used in procurement processes to collect information about products, services, or suppliers before making a decision.

• It helps organizations to understand the capabilities, pricing, and other details of potential suppliers.

• RFIs are often used as a preliminary step before issui...read more

Estimates are calculated predictions of the cost, time, and resources required for a project.

• Gather all relevant information and data related to the project

• Break down the project into smaller tasks or components

• Use historical data or industry benchmarks to estimate the time and cost for each task

• Consider any potential risks or uncertainties that may impact the estimates

• Document the estimates and communicate them clearl