First American Corporation Senior Process Associate 1 Interview Questions and Answers

English, insurance, accounts

Q1. Tell me about yourself
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Q2. What do you know about insurance, finance, some technical questions
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Q1. Depends on process applied for
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Gives one topic for checking your communication and confidence.

Logical reasoning and other process releted questions.

Q1. Process releted questions
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Q2. Insurance, types, brokerage, mortgage,process, other non technical questions.
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Q1. Technical round manager asks about company background, history, insurance terms policies and other questions for cheak your logical ability.
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Grammer,FILL IN THE BLANKS ,INSURANCE CALENDER EVENTS QUESTIONS

Q1. WHAT DO YOU MEAN BY DEPRECIATION
Ans. 
Depreciation is the allocation of the cost of a tangible asset over its useful life.
• Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.

• It is used to spread the cost of an asset over its useful life for accounting and tax purposes.

• Common methods of calculating depreciation include straight-line, double declining balance, and units of production.

• Examples of depreciable assets inc...read more
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Q2. WHAT DO YOU MEAN BY INSURANCE
Ans. 
Insurance is a contract in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.
• Insurance is a form of risk management primarily used to hedge against the risk of a contingent or uncertain loss.

• The insured pays a premium to the insurance company in exchange for coverage and protection.

• Common types of insurance include health insurance, life insurance, aut...read more
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There are the questions from Aptitude, English, Account & Insurance

Q1. Introduce yourself
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Q2. Insurance related questions
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Q3. Able to work in night shift
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Q1. Same as Round 2 questions
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You can choose your own topic

English grammer
logical reasoning

Q1. What is accounts payable and recevaible
Ans. 
Accounts payable is money owed by a company to its suppliers, while accounts receivable is money owed to a company by its customers.
• Accounts payable refers to the money a company owes to its suppliers for goods or services purchased on credit.

• Accounts receivable refers to the money owed to a company by its customers for goods or services provided on credit.

• Accounts payable is a liability on the company's balance sheet,...read more
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Q2. Resume based q&a
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Q3. Depreciation and its types
Ans. 
Depreciation is the allocation of the cost of an asset over its useful life. Types include straight-line, double declining balance, and units of production.
• Depreciation is a method of allocating the cost of an asset over its useful life

• Straight-line depreciation evenly spreads the cost over the useful life of the asset

• Double declining balance method accelerates depreciation in the early years of an asset's life

• Units of...read more
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Q4. Journal entries
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Q1. Same Q&a as hr resume based questions S&W
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Q2. DEPRECIATION AMMORTIATION JOURNAL ENTRIES WHAT IS TRADING AC
Ans. 
Trading account is a financial statement that shows the results of buying and selling goods and services.
• Trading account is a part of the final accounts of a business.

• It shows the gross profit or loss made by the business through trading activities.

• It includes details of sales, purchases, direct expenses, and direct incomes.

• The formula for calculating gross profit is: Gross Profit = Net Sales - Cost of Goods Sold.
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Q3. BASIC ACCOUNTING Q&A
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Q1. Tell me about yourself
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Effortless and smooth

Logical reasoning section was time consuming, other sections were good to clear

Q1. Tell me about yourself
Ans. 
I am a detail-oriented individual with strong analytical skills and a passion for process improvement.
• Graduated with a degree in Business Administration

• Previous experience in data analysis and process optimization

• Proficient in Microsoft Excel and other data analysis tools
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Q2. Why choose Gallagher
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Q3. Tell me about your previous job or internship experience.
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