Cognizant Senior Executive Interview Questions, Process, and Tips

Q1. Process related questions
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Q2. Difference Between cost accounting and financial accounting
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Cost accounting focuses on internal costs and helps in decision-making, while financial accounting focuses on external reporting and compliance.
• Cost accounting is used for internal purposes, such as determining the cost of producing a product or service.

• Financial accounting is used for external reporting to stakeholders, such as investors and regulators.

• Cost accounting helps in decision-making by providing information ...read more
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Q3. Golden rules of accounts
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The golden rules of accounts are fundamental principles that guide the recording of financial transactions.
• The first golden rule is the Debit what comes in, Credit what goes out.

• The second golden rule is the Debit all expenses and losses, Credit all incomes and gains.

• The third golden rule is the Debit the receiver, Credit the giver.

• These rules ensure accurate and balanced accounting entries.

• For example, when a company ...read more
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Q1. Self introduction
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Q2. What are your current roles and responsibilities?
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Q1. What is property and casualty insurance?
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Property and casualty insurance provides coverage for property damage and liability risks.
• Property insurance covers damage to physical property such as homes, buildings, and personal belongings.

• Casualty insurance covers liability risks such as bodily injury or property damage caused to others.

• Examples include homeowners insurance, auto insurance, and commercial property insurance.
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Q2. What is the endorsement and policy lifecycle in insurance?
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Endorsement and policy lifecycle in insurance involves making changes to an existing policy and managing it throughout its duration.
• Endorsements are changes made to an existing insurance policy, such as adding or removing coverage, changing policy limits, or updating personal information.

• The policy lifecycle includes the issuance of the policy, endorsements, renewals, and eventual cancellation or expiration.

• Insurance c...read more
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Q1. How many boxes are there in cms-1500 and can you name atleast five boxes ?
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Q2. What is authorisation ...types of auth what do you do if you have a auth denial ?
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Authorization is the process of granting or denying access to resources based on identity and permissions.
• Authorization is the process of determining whether a user or system has the necessary permissions to access a resource.

• Types of authorization include role-based access control (RBAC), attribute-based access control (ABAC), and discretionary access control (DAC).

• If authorization is denied, the user or system will n...read more
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Q1. How does you start your day in office?
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Q2. What is the eligibility of Medicare?
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Q3. How do you solve coding related denials?
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Coding related denials can be solved by identifying root causes, implementing process improvements, and providing education to staff.
• Identify common coding errors and provide targeted training to staff

• Implement regular audits to catch coding mistakes early

• Utilize software tools to assist with accurate coding

• Collaborate with coding team to address any systemic issues causing denials
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Aptitude and logical reasoning

Q1. Technical round
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Q2. Write an essay on your favourite topic
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Q3. No question were asked
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