Insurance Regulatory and Development Authority Interview Questions and Answers

Financial ratios test and MCQ test related to finance numericals

Q1. What is balance sheet, p&l and cash flow statement?
Ans. 
Balance sheet shows a company's assets, liabilities, and equity at a specific point in time. P&L shows a company's revenues, expenses, and profits over a period. Cash flow statement shows how cash flows in and out of a company.
• Balance sheet provides a snapshot of a company's financial position at a specific point in time.

• P&L (Profit and Loss) statement shows a company's revenues, expenses, and profits over a specific p...read more
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Q2. What is the negative item in the balance sheet?
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The negative item in the balance sheet is liabilities.
• Liabilities represent the company's debts or obligations that must be paid off in the future.

• Examples of liabilities include loans, accounts payable, and accrued expenses.

• Having high levels of liabilities relative to assets can indicate financial risk.
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Q1. Scenario Based Questions.
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Q2. Give Income statement format.
Ans. 
Income statement format includes revenue, expenses, and net income.
• Start with revenue at the top

• List all expenses below revenue

• Calculate net income by subtracting total expenses from revenue

• Include headings for each section such as 'Revenue', 'Expenses', and 'Net Income'

• Format should be: Revenue - Expenses = Net Income
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Q1. What is Vlookup?and if it's giving error then which symbol we use to remove the error?
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Vlookup is a function in Excel used to search for a value in a table and return a corresponding value from another column.
• Vlookup stands for 'Vertical Lookup'.

• It is commonly used in Excel to search for a value in the leftmost column of a table and return a value in the same row from a specified column.

• If Vlookup is giving an error, the symbol '#' is used to remove the error.

• For example, if the formula '=VLOOKUP(A2, B2:...read more
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Q2. Why should we select you over other candidates
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Q1. Quantitative Aptitude, Reasoning, English and General Awareness
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Q2. Professional Knowledge based questions .
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Q1. Technical questions
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Q2. HR questions
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Q1. What is Docker,image vs containers,mutistage,terraformstatebackend
Ans. 
Docker is a platform for developing, shipping, and running applications using containers. Images are templates for containers, multistage builds optimize Dockerfiles, and Terraform state backend stores infrastructure state.
• Docker is a platform that allows developers to package applications and their dependencies into containers for easy deployment and scalability.

• Images are read-only templates used to create containers...read more
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Q2. What is diff cloud formation vs terraform, release management like blue green etc.
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CloudFormation and Terraform are both infrastructure as code tools, while blue-green release management is a deployment strategy.
• CloudFormation is a service provided by AWS for creating and managing AWS resources using templates written in JSON or YAML.

• Terraform is an open-source tool by HashiCorp that allows you to define and provision infrastructure using a declarative configuration language.

• Blue-green deployment is ...read more
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It is a test of total 150+ questions in which we have some java pseudocodes ,python ,aptitude reasoning questions as well and english questions.

Q1. Short inteoduction and project discussion.
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Q2. Check the given sentence is palindrome or not by taking input by user.
Ans. 
The program checks if a given sentence is a palindrome or not.
• Prompt the user to input a sentence

• Remove all spaces and punctuation from the sentence

• Reverse the sentence and compare it with the original sentence to check for palindrome
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Q3. Final,Finally,finalize keywords
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Q1. Introduce your self
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Q2. Soft skills and other basic questions
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Q1. Ducting types youed
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Q2. Ducting any types of material
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Q3. Mep for explain
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Q4. Mep basic form housed property
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Q5. Electrical line
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Q1. State the difference between ui and ux?
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Q2. What are the UX laws?
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Q3. State Fitts law
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Q1. What is AML and primary and secondary research?
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Q1. What was your contribution towards lead time improvement?
Ans. 
I implemented process improvements and streamlined workflows to reduce lead times by 20%.
• Analyzed current processes to identify bottlenecks

• Implemented automation tools to speed up tasks

• Trained team members on efficient time management techniques

• Collaborated with suppliers to optimize supply chain logistics
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Q1. How have you been able to successfully handle difficult stakeholders? Pls provide an example / case study
Ans. 
I have successfully handled difficult stakeholders by actively listening, addressing concerns, and finding common ground.
• Active listening to understand their concerns and perspectives

• Addressing their concerns with empathy and professionalism

• Finding common ground and working towards a mutually beneficial solution
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Q1. How do we improve lead time in fulfillment
Ans. 
Improving lead time in fulfillment involves optimizing processes, reducing bottlenecks, and enhancing communication.
• Implementing lean manufacturing principles to streamline operations

• Utilizing technology such as automation and inventory management systems

• Improving forecasting accuracy to better anticipate demand

• Enhancing communication between departments to reduce delays

• Regularly reviewing and optimizing the supply cha
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Q1. How have you been able to effectively improve the ER campaigns?
Ans. 
I have improved ER campaigns by analyzing data, implementing targeted strategies, and collaborating with cross-functional teams.
• Analyzed data to identify trends and areas for improvement

• Implemented targeted strategies based on data analysis

• Collaborated with cross-functional teams to ensure campaign success
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Q1. Overall summary with challenges and solutions towards the hurdles in improvement of recruitment process
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Q1. Introduction to about your self
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Q2. Experience and product knowledge
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