Altacit Global Interview Questions and Answers

Legal technical questions on basics of law

Q1. General question to gauge culture fit
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Q1. Tell me about yourself
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Q1. What is transfer pricing
Ans. 
Transfer pricing is the setting of prices for goods and services sold between related legal entities within an enterprise.
• Transfer pricing is used by multinational companies to allocate profits and costs between different subsidiaries.

• It helps determine the taxable income in different countries where the company operates.

• Transfer pricing should be set at arm's length, meaning the prices should be similar to what unrela...read more
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Q1. The questions were based on the niche I was applying for in the firm
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Q2. What is the impact of Supreme Court's decision on documentation required before deduction could be allowed for write-off of debts?
Ans. 
Supreme Court's decision on documentation for debt write-off impacts deduction eligibility.
• Supreme Court's decision requires documentation to prove debt write-off eligibility for deduction.

• Lack of proper documentation may result in disqualification for deduction.

• This decision aims to prevent fraudulent claims for debt write-off deductions.

• Examples of required documentation include loan agreements, repayment schedules, ...read more
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Q1. Difference between public and private company?
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Public companies are listed on stock exchanges and have shares available for public trading, while private companies are owned by a small group of individuals and do not have publicly traded shares.
• Public companies have shares that are traded on stock exchanges, allowing anyone to buy and sell them.

• Private companies are owned by a small group of individuals or a single entity, and their shares are not publicly traded.

• P...read more
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Q2. Difference between ROFR and ROFO
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ROFR gives the right to match an offer, while ROFO gives the right to make the first offer.
• ROFR (Right of First Refusal) allows the holder to match an offer before it is accepted by the seller.

• ROFO (Right of First Offer) gives the holder the right to make the first offer on a property or asset before it is offered to others.

• ROFR is reactive, triggered by an existing offer, while ROFO is proactive, allowing the holder t...read more
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Q1. Technical questions in relation to the team you are going to be part of.
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Q1. More of a personality assessment, general questions on goals, etc
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Q1. Enforcement of Equitable Mortgage and Registered Mortgage
Ans. 
Enforcement of Equitable Mortgage and Registered Mortgage involves different legal processes and remedies.
• Equitable mortgage is created by deposit of title deeds while registered mortgage is created by registration with the land registry.

• Enforcement of equitable mortgage involves filing a suit for foreclosure or sale of the property.

• Enforcement of registered mortgage involves initiating foreclosure proceedings through ...read more
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Q2. Types of mortgage
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There are various types of mortgages, including fixed-rate, adjustable-rate, FHA, VA, and jumbo loans.
• Fixed-rate mortgages have a set interest rate for the entire term of the loan.

• Adjustable-rate mortgages have an interest rate that can change periodically.

• FHA loans are insured by the Federal Housing Administration and often require a lower down payment.

• VA loans are guaranteed by the Department of Veterans Affairs and ...read more
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