First American Corporation Senior Process Associate Interview Questions and Answers

Risk management is the process of identifying, assessing, and controlling potential risks that could affect an organization's objectives.

• It involves identifying potential risks and their likelihood of occurring

• Assessing the potential impact of those risks on the organization

• Developing strategies to mitigate or avoid those risks

• Monitoring and reviewing the effectiveness of risk management strategies

• Examples include fina...read more

BRS stands for Bank Reconciliation Statement, which is a document that compares the bank statement with the company's accounting records.

• BRS helps in identifying any discrepancies between the two records.

• It ensures that all transactions are recorded accurately.

• It is usually prepared on a monthly basis.

• Example: If a company's accounting records show a payment of $1000 to a supplier, but the bank statement shows a paymen...read more

Yes, I am able to work in different shifts.

• I have previous experience working in different shifts.

• I am flexible and adaptable to changing schedules.

• I understand the importance of maintaining productivity and meeting deadlines regardless of the shift.

• I am willing to adjust my personal schedule to accommodate different shifts.

• I can handle the challenges of working during odd hours or night shifts.

Account Payables are the amounts a company owes to its vendors, while Account Receivables are the amounts owed to the company by its customers. BRS is a process of reconciling bank statements with a company's accounting records. Deferred Revenue is the revenue received in advance for goods or services that are yet to be delivered.

• Account Payables are the liabilities of a company that arise from the purchase of goods or...read more

Accounting is important as it helps in keeping track of financial transactions, making informed decisions, and complying with legal requirements.

• Accounting helps in maintaining accurate financial records and tracking transactions.

• It provides insights into the financial health of a business and helps in making informed decisions.

• It helps in complying with legal requirements and regulations.

• Proper accounting practices ca...read more