ICICI Prudential Life Insurance MIS Executive Interview Questions and Answers for Freshers

Insurance is a financial product that provides protection against specific risks in exchange for payment of a premium.

• Insurance is a contract between an individual or entity and an insurance company.

• The individual or entity pays a premium to the insurance company in exchange for coverage against specific risks.

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

• Insurance ...read more

Insurance is a financial protection against potential losses or risks.

• Insurance is a contract between an individual or entity and an insurance company.

• The individual or entity pays a premium in exchange for coverage against specific risks.

• In case of a covered loss, the insurance company compensates the policyholder.

• Types of insurance include health, life, auto, home, and business insurance.

• Insurance helps individuals a...read more

CAMELS is a rating system used by regulators to assess the soundness of financial institutions.

• CAMELS stands for Capital adequacy, Asset quality, Management, Earnings, Liquidity, and Sensitivity to market risk.

• Each component is rated on a scale of 1 to 5, with 1 being the best and 5 being the worst.

• Regulators use CAMELS ratings to determine the overall health and stability of financial institutions.

• For example, a bank ...read more

Substance over form is a concept in accounting where the economic reality of a transaction is more important than its legal form.

• Focuses on the underlying economic substance of a transaction rather than its legal form

• Ensures that financial statements accurately reflect the true financial position of a company

• Helps prevent misleading financial reporting by looking beyond surface details

• Example: Recording a lease as an o...read more