NetAmbit Interview Questions and Answers

A credit report contains information about a person's credit history and financial behavior.

• The main components of a credit report include personal information, credit accounts, payment history, public records, and inquiries.

• Personal information includes the person's name, address, social security number, and employment history.

• Credit accounts show the person's credit cards, loans, and other debts, as well as their payment history and current balances.

• Payment history shows wh...read more

Functional requirements describe what the system should do, while non-functional requirements describe how the system should perform.

• Functional requirements specify the behavior of the system, such as user interactions or data processing.

• Non-functional requirements specify the constraints or qualities the system must have, such as performance, security, or scalability.

• Example of functional requirement: The system must allow users to create an account and log in.

• Example of non...read more

Mandatory tags in MT and corresponding in MX

• Mandatory tags in MT (Machine Translation) refer to the tags that must be present in the source text for accurate translation.

• These tags provide context and structure to the text, ensuring that the translated output is correct and coherent.

• In MX (Machine eXtended), the corresponding mandatory tags are used to define the structure and formatting of the translated text.

• These tags ensure that the translated content is displayed correct...read more

Provisioning norms for NPA and SMA

• NPA stands for Non-Performing Assets and SMA stands for Special Mention Accounts

• Provisioning norms are guidelines set by the Reserve Bank of India for banks to maintain a certain level of provisions for their bad loans

• The provisioning norms for NPA and SMA differ based on the age and classification of the accounts

• For example, for NPA accounts, banks need to make a provision of 15-100% depending on the age of the account and the type of loan

• Si...read more

Serial payment flow involves a sequence of payments made in a specific order.

• Serial payment flow follows a predetermined sequence of payments.

• Each payment is made after the previous payment has been completed.

• The flow can be automated or manual, depending on the payment system.

• Examples include installment payments, subscription fees, and loan repayments.

A cover payment is a type of payment used in international transactions to facilitate the transfer of funds between banks.

• A cover payment involves two banks: the remitting bank and the beneficiary bank.

• The remitting bank initiates the payment on behalf of its customer, who is the sender of the funds.

• The remitting bank sends the cover payment message to the beneficiary bank, which is responsible for crediting the funds to the recipient's account.

• The cover payment message conta...read more

Cover payment is a payment made by a bank on behalf of its customer to ensure a transaction is completed.

• Cover payment is used when a customer does not have sufficient funds to complete a transaction.

• It is typically used in international trade to ensure timely payment.

• The bank makes the payment on behalf of the customer and then recovers the funds from the customer later.

• Cover payment can also refer to a payment made by an insurance company to cover medical expenses.

• In this c...read more

Important checklist in data migration

• Assess the current data landscape

• Identify and prioritize data to be migrated

• Ensure data quality and integrity

• Plan for data mapping and transformation

• Test and validate the migration process

• Implement data migration in phases

• Monitor and troubleshoot during migration

• Document the migration process