600+ Interview Questions and Answers

Technical interview questions for Senior Consultant role

• Virtual DOM is a lightweight copy of the actual DOM used for efficient updates

• React component life cycle includes mounting, updating, and unmounting phases

• Higher-order components are functions that take a component and return a new component with additional functionality

• Basic javascript logical codes like reversing a string can be done using built-in methods or loops

• map, reduce, and filter are array methods used for mani...read more

Supply chain consulting involves optimizing and improving the flow of goods and services from suppliers to customers.

• Supply chain consulting focuses on analyzing and improving the efficiency of the supply chain process.

• It involves identifying bottlenecks, reducing costs, and enhancing customer satisfaction.

• Consultants may suggest strategies for inventory management, transportation, and distribution.

• They may also recommend technology solutions to streamline operations.

• For exam...read more

Yes, I have both risk management experience and audit work experience.

• I have worked as a risk management consultant for XYZ Company for 5 years.

• During my time at XYZ Company, I successfully implemented risk management strategies for several clients, helping them identify and mitigate potential risks.

• I have also conducted numerous risk assessments and developed risk mitigation plans.

• In terms of audit work experience, I have worked as an auditor at ABC Firm for 3 years.

• I have c...read more

As a consultant, I would analyze the Indian telecom market and provide a market entry strategy for the North American operator.

• Conduct a market analysis to understand the current telecom landscape in India

• Identify potential competitors and their market share

• Assess regulatory and legal requirements for foreign telecom operators

• Evaluate the demand for telecom services in different regions of India

• Develop a market entry strategy based on the analysis and recommend the best appro...read more

Journal entries for sales return and purchase return.

• Sales return journal entry: Debit Sales Returns and Credit Accounts Receivable/Accounts Payable.

• Purchase return journal entry: Debit Accounts Payable and Credit Purchase Returns.

The duty charged on 30 gms of gold bought in London depends on the country's tax laws and regulations.

• The duty charged on gold varies from country to country.

• It is important to consider the tax laws and regulations of the specific country in question.

• Researching the customs and import duties of the destination country is necessary to determine the duty charged on gold.

• Consulting with a tax analyst or customs expert can provide accurate information on duty charges for gold pur...read more

Interview questions on Python programming concepts and tools.

• List and tuple are both sequence data types, but tuples are immutable.

• List comprehension is a concise way to create lists based on existing lists.

• Decorators are functions that modify the behavior of other functions.

• Sequential data types are accessed in a specific order, while non-sequential data types are not.

• Pandas is a Python library for data manipulation and analysis.

• DataFrames can be created from dictionaries us...read more

Advise P&G on cost reduction in logistics & supply chain after acquiring Gillette.

• Conduct a thorough analysis of the current logistics & supply chain processes to identify areas of improvement.

• Explore options for optimizing transportation routes and modes to reduce costs.

• Implement a demand-driven supply chain strategy to reduce inventory and improve efficiency.

• Leverage technology such as automation and data analytics to streamline operations and reduce costs.

• Collaborate with ...read more

Supply chain management is the coordination and management of activities involved in the production and delivery of products and services.

• It involves the planning, sourcing, manufacturing, and delivery of products or services

• It aims to optimize the flow of goods and services from the supplier to the customer

• It involves managing relationships with suppliers and customers

• It helps to reduce costs, improve efficiency, and increase customer satisfaction

• Examples include inventory m...read more

Toothpaste company facing revenue and margin decline. What to do?

• Conduct market research to identify reasons for decline

• Analyze competitors' strategies and pricing

• Revamp marketing and advertising campaigns

• Introduce new product variants or improve existing ones

• Consider cost-cutting measures to improve margins

• Explore new distribution channels

• Collaborate with dentists or dental clinics for endorsements

• Offer promotions or discounts to attract customers

• Invest in digital marketing ...read more

The product of multiplying all the numbers on a calculator.

• To find the product, multiply all the numbers displayed on the calculator.

• Include both the digits and any mathematical symbols on the calculator.

• If there are no numbers on the calculator, the product would be 0.

• If there is a decimal point on the calculator, consider it as a number.

E&Y strengths can be leveraged to help telecom companies grow their enterprise business by...

• Providing strategic consulting services to identify growth opportunities and develop effective business strategies

• Offering financial advisory services to help telecom companies secure funding for expansion and investment in new technologies

• Leveraging E&Y's global network to connect telecom companies with potential partners and customers

• Providing technology consulting services to help ...read more

Engaged with various stakeholders internally and externally, including partnerships, donors, and clients, to achieve mutually beneficial outcomes.

• Engaged with internal stakeholders such as team members, managers, and executives to align on project goals and strategies

• Collaborated with external partners and clients to develop joint initiatives and projects

• Managed relationships with donors to secure funding for projects and ensure transparency and accountability

• Handled challeng...read more

GroupBy is used to group data based on a column while Having is used to filter grouped data based on a condition.

• GroupBy is used with aggregate functions like SUM, COUNT, AVG, etc.

• Having is used to filter data after grouping based on a condition.

• GroupBy is used before Having in a SQL query.

• Example: SELECT department, COUNT(*) FROM employees GROUP BY department HAVING COUNT(*) > 5;

• Example: SELECT department, AVG(salary) FROM employees GROUP BY department HAVING AVG(salary) > 5...read more

To calculate 45 minutes using 2 unevenly greased ropes and 1 candle.

• Light both ropes at the same time

• After 30 minutes, the first rope will be completely burned and the second rope will have 30 minutes of grease left

• Light the candle at this point

• When the second rope is completely burned, 15 minutes will have passed since the candle was lit

The New Companies Act 2013 was introduced to modernize and improve corporate governance in India.

• The Companies Act 1956 was outdated and needed to be replaced with a more comprehensive and contemporary legislation.

• The new act aimed to align Indian corporate laws with international standards and best practices.

• It introduced several new provisions to enhance transparency, accountability, and investor protection.

• The Act introduced the concept of One Person Company (OPC) and made...read more

Auditing is the process of examining financial records to ensure accuracy and compliance with laws and regulations.

• Depreciation methods include straight-line, double-declining balance, and units of production.

• Basic journal entries include debits and credits to accounts such as cash, accounts receivable, and accounts payable.

• Auditing involves testing internal controls, verifying transactions, and assessing financial statements.

• Examples of auditing procedures include reviewing ...read more

I have X years of experience. Anti-money laundering refers to the laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.

• I have X years of experience in the field of anti-money laundering.

• Anti-money laundering (AML) is a set of laws, regulations, and procedures designed to prevent the illegal generation of income.

• AML is intended to prevent criminals from disguising illegally obtained funds as legitimate in...read more

Investing in innovation and upskilling employees are key areas for Indian IT companies to remain competitive.

• Investing in research and development to create innovative solutions

• Upskilling employees to keep up with emerging technologies

• Focusing on customer-centric approach to deliver personalized solutions

• Adopting agile methodologies to improve efficiency and speed of delivery

• Collaborating with startups and other companies to leverage their expertise

• Expanding into new markets ...read more

To convert a .txt file into a .csv file in Python, you can use the csv module.

• Import the csv module

• Open the .txt file in read mode

• Open a new .csv file in write mode

• Use csv.reader to read the .txt file line by line

• Use csv.writer to write each line to the .csv file

Top risks faced by IT companies at enterprise level

• Cybersecurity threats and data breaches

• Lack of skilled workforce and talent retention

• Dependency on third-party vendors and service providers

• Compliance and regulatory issues

• Technological obsolescence and disruption

• Financial instability and market volatility

Assurance associate is responsible for ensuring accuracy and compliance of financial statements and reports.

• Assist in audits and reviews of financial statements

• Evaluate internal controls and identify areas for improvement

• Ensure compliance with accounting standards and regulations

• Communicate findings and recommendations to clients

• Examples: PwC Assurance Associate, EY Assurance Associate

The Purchase Method and Pooling of Interests Method are two different accounting methods used for amalgamations.

• Purchase Method involves recording the amalgamation as an acquisition, with the acquiring company recognizing the fair value of the assets and liabilities of the acquired company.

• Pooling of Interests Method involves combining the financial statements of the merging companies as if they had always been a single entity.

• Under Purchase Method, goodwill is recognized as ...read more

GST is Goods and Services Tax, a comprehensive indirect tax levied on the supply of goods and services in India.

• GST was implemented in India on July 1, 2017, replacing multiple indirect taxes like VAT, excise duty, and service tax.

• It is a destination-based tax system, where the tax is collected at the point of consumption.

• GST aims to simplify the tax structure, eliminate cascading effect, and create a unified market across the country.

• It has different tax slabs for different ...read more

Filtering data in PySpark based on a particular condition.

• Use the filter() function to filter data based on a condition.

• Conditions can be specified using logical operators such as ==, >, <, etc.

• Multiple conditions can be combined using logical operators such as and, or, not.

• Example: df.filter(df['age'] > 25).filter(df['gender'] == 'Male')

• This will filter the data where age is greater than 25 and gender is Male.

Consulting a client on opening an outsourcing center in India

• Understand the client's goals and objectives for outsourcing to India

• Research the market trends and potential locations in India for the outsourcing center

• Assess the legal and regulatory requirements for setting up a business in India

• Evaluate the cost savings and benefits of outsourcing to India compared to other countries

• Provide guidance on cultural differences and communication strategies when working with Indian ...read more

Managing conflicts in a team and stakeholders requires effective communication, active listening, and problem-solving skills.

• Identify the root cause of the conflict and involve all parties in finding a solution

• Encourage open and honest communication to avoid misunderstandings

• Actively listen to all parties involved and acknowledge their concerns

• Use problem-solving techniques such as brainstorming and compromise to find a mutually beneficial solution

• When managing stakeholders, ...read more

Designing a Power BI dashboard involves creating a visually appealing layout, writing DAX queries to retrieve data, and scheduling refreshes.

• Identify the key metrics and KPIs to display on the dashboard

• Choose appropriate visualizations to represent the data

• Write DAX queries to retrieve and manipulate data

• Create calculated columns and measures to perform calculations

• Set up data refresh schedules to ensure the dashboard is up-to-date

• Consider user experience and design a user-fr...read more

Count the number of windows in Delhi by dividing the city into smaller areas and conducting a sample survey.

• Divide Delhi into smaller areas

• Conduct a sample survey in each area to count the number of windows in a few buildings

• Calculate the average number of windows per building in each area

• Multiply the average by the total number of buildings in the area to estimate the total number of windows

• Add up the estimates from each area to get the total number of windows in Delhi

EY's core values include integrity, respect, teamwork, and excellence.

• Integrity: Upholding the highest ethical standards in all actions

• Respect: Valuing diversity and treating everyone with dignity

• Teamwork: Collaborating effectively to achieve common goals

• Excellence: Striving for the highest quality in everything we do

Single linked list has one link per node, double linked list has two links per node, and circular linked list connects the last node to the first node.

• Single linked list: Each node has a reference to the next node only.

• Double linked list: Each node has references to both the next and previous nodes.

• Circular linked list: Last node's reference points back to the first node, forming a circle.

CMMI is a process improvement model. Sweep account is a bank account. Marginal cost is the cost of producing one additional unit. Expense is a cost incurred in the normal course of business. Expenditure is a payment made for goods or services.

• CMMI stands for Capability Maturity Model Integration and is a process improvement model used in software development.

• Sweep account is a bank account that automatically transfers funds from a checking account to an interest-earning accou...read more

Analytics is using data to find patterns and insights that help make better decisions.

• Analytics is like solving a puzzle with data

• It helps us understand what happened, why it happened, and what might happen in the future

• For example, it can help a business figure out which products are selling well and why

• Or it can help a doctor predict which patients are at risk for certain diseases

• It's like having a crystal ball that helps us make smarter choices

Limited review is a review of financial statements, less in scope than a full audit. Statutory audit is a comprehensive audit of financial statements.

• Limited review is a less extensive review of financial statements than a full audit.

• It provides a moderate level of assurance on the financial statements.

• Statutory audit is a comprehensive audit of financial statements that provides a high level of assurance.

• Statutory audit is mandatory for certain companies, while limited revie...read more

Use a connected lookup to obtain more than 1 return value in an unconnected lookup

• Use a connected lookup transformation to retrieve multiple values based on a common key

• Join the output of the connected lookup with the main pipeline using a joiner transformation

• Configure the connected lookup to return multiple rows for a single input key

To check cash & bank balance more than 30 in nos., use bank statements & cash receipts.

• Check bank statements for balances over 30

• Review cash receipts for amounts over 30

• Add up all balances and receipts to get total balance

The stages involved in the Loan Lifecycle include application, underwriting, approval, funding, and repayment.

• Application: Borrower submits loan application with necessary documents.

• Underwriting: Lender evaluates borrower's creditworthiness and risk.

• Approval: Lender approves the loan based on underwriting results.

• Funding: Loan amount is disbursed to the borrower.

• Repayment: Borrower makes regular payments to repay the loan.

GAAP stands for Generally Accepted Accounting Principles and is a set of accounting standards used in the US.

• GAAP is a set of guidelines for financial reporting that ensures consistency and transparency in financial statements.

• It includes principles for revenue recognition, expense recognition, and asset valuation.

• Examples of GAAP include the matching principle, which requires expenses to be recognized in the same period as the revenue they helped generate, and the going conc...read more

There are two main sets of accounting rules: GAAP and IFRS.

• Generally Accepted Accounting Principles (GAAP) are used in the United States.

• International Financial Reporting Standards (IFRS) are used in many other countries.

• GAAP and IFRS have some differences in their rules and guidelines.

• There are also industry-specific accounting rules, such as those for healthcare or real estate.

• Overall, there is no set number of accounting rules as they can vary depending on the context.

Depreciation is the decrease in value of an asset over time due to wear and tear, obsolescence, or other factors.

• Depreciation is a method used to allocate the cost of an asset over its useful life.

• It is calculated by subtracting the asset's salvage value from its initial cost and dividing it by the asset's useful life.

• There are different methods of calculating depreciation, such as straight-line, declining balance, and units of production.

• Straight-line depreciation evenly dis...read more

Answering questions on call and put options, bond sensitivities, yield curve, etc. for Senior Consultant role.

• Delta measures the change in option price due to a change in the underlying asset price

• Gamma measures the change in delta due to a change in the underlying asset price

• Bond sensitivities include duration and convexity

• Yield curve shows the relationship between bond yields and maturities

• Call options give the holder the right to buy an underlying asset at a specified pric...read more

Audit of procurement function involves reviewing procurement policies, procedures, contracts, and vendor management.

• Review procurement policies and procedures to ensure compliance with regulations and best practices

• Examine contracts to ensure they are properly executed and contain necessary provisions

• Evaluate vendor management practices to ensure proper due diligence and risk management

• Assess procurement performance metrics to identify areas for improvement

• Conduct interviews ...read more

To check if each FA is located severely, follow the FAR procedures.

• Refer to FAR Part 45 for definitions and identification of FAs

• Check the records of each FA to determine its location

• Ensure that the location of each FA is compliant with applicable regulations

• If any FA is found to be located severely, take appropriate corrective action

Mean is the average of a set of numbers, median is the middle value, and mode is the most frequently occurring value.

• Mean is calculated by adding up all the numbers in a set and dividing by the total number of values.

• Median is the middle value in a set of numbers when they are arranged in order.

• Mode is the value that appears most frequently in a set of numbers.

• I have a strong understanding of statistical concepts and can apply them to real-world scenarios.

• For example, if we h...read more

EBITDA and FCF are important financial metrics for credit analysis. FCF can be derived from EBITDA by adjusting for non-cash expenses and changes in working capital.

• EBITDA measures a company's operating performance before interest, taxes, depreciation, and amortization.

• FCF measures the cash generated by a company's operations that is available for distribution to investors.

• To derive FCF from EBITDA, you need to adjust for non-cash expenses such as depreciation and amortizatio...read more

Oligopoly is a market structure where a few large firms dominate the market.

• The firms in an oligopoly have significant market power.

• They can influence the price and output in the market.

• The demand curve for an oligopoly is kinked due to the interdependence of firms.

• The kinked demand curve shows that firms will match price cuts but not price increases.

• Examples of oligopolies include the automobile industry and the soft drink industry.

Calculate angle between minute hand and hour hand of a clock at a given period of time

• Calculate the angle between the two hands using the formula: |(30H - 11/2M)|

• Where H is the hour and M is the minute

• Take the absolute value of the result

• If the result is greater than 180, subtract it from 360 to get the acute angle

Analyzing a company's financial statements involves examining its income statement, balance sheet, and cash flow statement to evaluate its financial health.

• Start by examining the income statement to understand the company's revenue, expenses, and profitability.

• Next, review the balance sheet to assess the company's assets, liabilities, and equity.

• Finally, analyze the cash flow statement to evaluate the company's cash inflows and outflows.

• Look for trends and patterns in the fin...read more

The PySpark query to find the sum and average using Spark DataFrames.

• Use the `groupBy` method to group the data by a specific column

• Use the `agg` method to apply aggregate functions like `sum` and `avg`

• Specify the column(s) to perform the aggregation on

Live dashboards can be created in Power BI by connecting to real-time data sources and using features like streaming datasets and push datasets.

• Connect to real-time data sources such as Azure Stream Analytics, Azure Event Hubs, or Power Automate

• Create streaming datasets to continuously update data in real-time

• Use push datasets to push data from external sources to Power BI

• Design visualizations and add them to a dashboard

• Set up automatic data refresh intervals for real-time up...read more

Implemented automations in financial reporting project to streamline processes and improve accuracy.

• Developed automated templates for financial statements

• Utilized software to automatically generate reports based on predefined criteria

• Implemented data integration tools to streamline data collection and analysis

• Set up automated alerts for discrepancies or anomalies in financial data

I have worked on a variety of projects including process improvement, system implementation, and organizational restructuring.

• Implemented a new CRM system to streamline customer interactions

• Led a team in restructuring department workflows to increase efficiency

• Developed and implemented training programs for new software rollouts

• Worked on process improvement projects to reduce waste and increase productivity

I handle large amount of financial data by using distributed computing and parallel processing.

• Use distributed computing frameworks like Hadoop or Spark to handle large datasets

• Implement parallel processing to speed up data processing

• Use cloud-based solutions like AWS or Azure for scalability

• Optimize data storage and retrieval using compression and indexing techniques

• Ensure data security and compliance with regulations like GDPR and PCI-DSS