Ernst & Young Risk Management Analyst Interview Questions and Answers

Q1. Form a regression model, describe OLS,
Ans. 
OLS is a method used to estimate the relationship between one dependent variable and one or more independent variables.
• OLS stands for Ordinary Least Squares.

• It is a method used in regression analysis to estimate the unknown parameters in a linear regression model.

• The goal of OLS is to minimize the sum of the squared differences between the observed values and the values predicted by the model.

• The OLS method calculates ...read more
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Q2. What are type 1 and type 2 errors, what are independent and mutually exclusive events,
Ans. 
Type 1 and type 2 errors are related to statistical hypothesis testing, while independent and mutually exclusive events are concepts in probability theory.
• Type 1 error occurs when a true null hypothesis is incorrectly rejected, while type 2 error occurs when a false null hypothesis is not rejected.

• Independent events are events where the occurrence of one event does not affect the probability of the other event happenin...read more
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Q3. Guesstimate: number of smartphones sold in india
Ans. 
Approximately 150 million smartphones are sold in India annually.
• Consider the population of India (approximately 1.3 billion) and the smartphone penetration rate (around 40-45%).

• Look at the sales data of major smartphone manufacturers in India like Xiaomi, Samsung, and Vivo.

• Take into account the growth rate of the smartphone market in India over the past few years.
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90 minutes test on shl platform

Q1. What is oops ?
Ans. 
Oops is a term used in programming to refer to an error or mistake in the code.
• Oops is often used when a programmer encounters a mistake in their code that causes unexpected behavior.

• It can also refer to a mistake made by a user that leads to unintended consequences.

• Common examples of oops moments include syntax errors, logic errors, and runtime errors.
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Q2. Explain your project in details ?
Ans. 
Developed a risk assessment model for predicting financial market fluctuations.
• Utilized historical market data to identify patterns and trends

• Incorporated machine learning algorithms to analyze data and make predictions

• Tested the model's accuracy and reliability using backtesting methods
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Q3. What is normalisation in dbms ?
Ans. 
Normalization in DBMS is the process of organizing data in a database to reduce redundancy and improve data integrity.
• Normalization involves breaking down a database into smaller, more manageable tables and defining relationships between them.

• It helps in reducing data redundancy by storing data in a structured and organized manner.

• Normalization ensures data integrity by preventing anomalies such as insertion, update, a...read more
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Q1. About yourself,where u see in 5 years ?
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Q2. Why we select you?
Ans. 
I have a strong background in risk analysis with proven experience in identifying and mitigating potential risks.
• I have a degree in finance and have completed multiple risk analysis projects during my time at university.

• I have worked as a risk analyst for XYZ company where I successfully identified and mitigated risks in their investment portfolio.

• I am skilled in using various risk assessment tools and techniques to an...read more
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