Digit Insurance Engineer Trainee Interview Questions and Answers

Q1. What are the two main theories of Human Resource Management (HRM)?
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Q2. Can you describe your educational background and the live projects you have completed in the past?
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Q1. Which will give higher returns? Annuity at year start or year end?
Ans. 
Annuity at year start generally gives higher returns due to longer investment period and compounding interest.
• Annuity at year start gives higher returns due to longer investment period for compounding interest

• Investing at year start allows for more time for the investment to grow

• Annuity at year end may result in lower returns as the investment period is shorter
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Q2. What is reserving in insurance and what methods are used in it?
Ans. 
Reserving in insurance is the process of estimating future claims and setting aside funds to cover them.
• Reserving involves predicting the amount of money that will be needed to pay for future claims.

• Methods used in reserving include the chain-ladder method, Bornhuetter-Ferguson method, and loss ratio method.

• The chain-ladder method extrapolates past claims development patterns into the future.

• The Bornhuetter-Ferguson me...read more
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Q1. What do know about insurance
Ans. 
Insurance is a financial product that provides protection against financial losses.
• Insurance is a contract between an individual or organization and an insurance company.

• It involves the payment of a premium in exchange for the insurance company's promise to cover specific financial losses.

• Types of insurance include life insurance, health insurance, auto insurance, and property insurance.

• Insurance helps individuals and ...read more
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Q2. What do you mean by sales and marketing?
Ans. 
Sales and marketing are two closely related activities that focus on promoting and selling products or services to customers.
• Sales involves directly interacting with customers to persuade them to purchase a product or service.

• Marketing involves creating strategies to attract potential customers and promote brand awareness.

• Sales is more focused on closing deals and generating revenue, while marketing is about creating d...read more
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It was a 3 hours test

Q1. Questions on Java to test in depth knowledge like can we have nested exception handling
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Q1. Introduce about your self
Ans. 
I am a recent graduate with a degree in Business Administration and a passion for leadership and problem-solving.
• Graduated with a Bachelor's degree in Business Administration

• Strong leadership skills demonstrated through leading group projects

• Passionate about problem-solving and finding innovative solutions

• Previous internship experience in a management role at a retail company
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