CIBC Mellon Interview Questions and Answers

Corporate action refers to events initiated by a publicly traded company that can affect its shareholders or securities.

• Corporate actions can include stock splits, mergers, acquisitions, dividends, rights issues, and bonus issues.

• These actions can impact the value of securities, alter the number of shares outstanding, or change the structure of the company.

• Shareholders may need to make decisions or take action in respo...read more

Expense accounting entries involve debiting the expense account and crediting the corresponding liability or cash account.

• Debit the expense account to increase expenses

• Credit the corresponding liability account if the expense is not paid immediately

• Credit the cash account if the expense is paid immediately

• Example: Debit Rent Expense, Credit Accounts Payable for rent not yet paid

• Example: Debit Office Supplies Expense, C

NAV stands for Net Asset Value, which is the value of a fund's assets minus its liabilities.

• NAV is calculated by dividing the total value of a fund's assets by the number of outstanding shares.

• It is used to determine the price at which investors can buy or sell shares in the fund.

• NAV is calculated daily and is a key metric for evaluating the performance of a fund.

• For example, if a fund has $100 million in assets and 10...read more