ICICI Prudential Pension Funds Financial Service Consultant Interview Questions and Answers

Q1. About current project
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Q2. Type of issues that I have worked on.
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Q1. Questions about Oracle payables
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Q2. About plsql
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Q1. Current salary and told me about their offer.
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Q2. Gave me 75% hike also.
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An aptitude test is beneficial for assessing knowledge.

Q1. What is the process for preparing a balance sheet and a profit and loss account?
Ans. 
The process for preparing a balance sheet and a profit and loss account involves gathering financial data, organizing it into categories, calculating totals, and analyzing the results.
• Gather financial data including assets, liabilities, and equity for the balance sheet.

• Organize the data into categories such as current assets, fixed assets, current liabilities, etc.

• Calculate totals for each category to determine the ove...read more
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Q2. What is the process for preparing a revenue account?
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The process for preparing a revenue account involves recording all income earned by a business during a specific period.
• Gather all relevant financial documents such as sales invoices, receipts, and bank statements.

• Calculate the total revenue earned by adding up all income sources.

• Record the revenue in the appropriate accounting software or ledger.

• Ensure all revenue is accurately categorized and any adjustments are made...read more
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⚫Simple and compound interest
⚫ Ratio and proportion

Time management,
Domain knowledge
Understand the case

Communication skills
Team work
Critical Thinking
Leadership skills
Time management

Q1. Technology and AI
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Q2. Climate action
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Q1. If all roses are followers and some followers fade quickly, which of the following can be concluded
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Q2. What comes next in the sequence: 2, 6, 12, 20, 30, ---?
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Q1. Tell me about your self
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Q2. Why do you want to work for our company
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Q1. Deferred tax liability , practical use, how do we calculate
Ans. 
Deferred tax liability is a balance sheet item representing taxes that will be paid in the future due to temporary differences in accounting and tax rules.
• Deferred tax liability arises when a company's taxable income is greater than its accounting income, resulting in taxes being paid in the future.

• It is calculated by multiplying the temporary difference between taxable income and accounting income by the tax rate.

• Exam...read more
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Q2. Swap in simple terms, dividend growth model
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A swap is a financial agreement between two parties to exchange cash flows or other financial instruments.
• A swap involves two parties exchanging cash flows or other financial instruments based on a predetermined set of terms.

• Common types of swaps include interest rate swaps, currency swaps, and commodity swaps.

• The dividend growth model is a method used to value a company's stock based on the expected future dividends i...read more
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Q1. What is depreciation?
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Q2. Full form of COGS ?
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Q1. Explain budgeting
Ans. 
Budgeting is the process of creating a plan to manage income and expenses over a specific period of time.
• Involves estimating income and expenses

• Setting financial goals

• Monitoring actual performance against the budget

• Adjusting the budget as needed

• Common types include operating budgets, capital budgets, and cash budgets
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Q2. Explain forecasting
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Forecasting is the process of making predictions about future trends based on past and present data.
• Forecasting involves analyzing historical data to identify patterns and trends

• Different methods such as qualitative and quantitative analysis can be used for forecasting

• Common techniques include time series analysis, regression analysis, and econometric modeling

• Forecasting helps businesses make informed decisions and pla...read more
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Q3. Explain revenue recognition
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Revenue recognition is the process of recording revenue in a company's financial statements when it is earned.
• Revenue is recognized when it is realized or realizable and earned, regardless of when cash is received.

• It is important to match revenues with expenses in the period they are incurred to accurately reflect the financial performance of a company.

• Different industries may have specific guidelines for revenue recog...read more
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Q4. Rent accured ledger entry
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Q5. Why is asset recognised or depreciated in balance sheet
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Assets are recognized in the balance sheet to reflect the company's resources and their value, while depreciation is recorded to allocate the cost of assets over their useful life.
• Assets are recognized in the balance sheet to show the company's resources and their value.

• Depreciation is recorded to allocate the cost of assets over their useful life.

• Recognizing assets and depreciating them helps in accurately reflecting ...read more
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Q1. Tell me something about yourself
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Q2. 5 step models for revenue recognition
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Q1. Do you believe in IC role or team work?
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Q2. Tell me about your work experience
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Q1. Account payable?
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Q2. Difference between Profit & Revenue
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