JPMorgan Chase & Co. Accountant Interview Questions and Answers

Q1. Tell me about yoursel
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Q2. Accounting related
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Q1. Tel me about your self What is golden rule of accounting What is bank reconciliation statement etc…
Ans. 
I am a detail-oriented accountant with experience in financial analysis and reporting. The golden rule of accounting is to debit the receiver and credit the giver. Bank reconciliation statement is a process of matching the balances in a company's accounting records to the corresponding information on a bank statement.
• Golden rule of accounting: Debit the receiver, credit the giver

• Bank reconciliation statement: Matching ...read more
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An aptitude test measures your capabilities in specific areas.

True-or-false. True-or-false questions can be useful in all three types of interview assessment tests.

Q1. Behavioral interview questions are questions based on how you acted in a specific situation.
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Q2. Give us an example of a goal you failed to meet, and how you handled the situation.
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Q1. About yourself and why do you want to leave your current job
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Q1. What is P2P Cycle and when AP work start?
Ans. 
P2P Cycle is Procure to Pay Cycle. AP work starts after the purchase order is received and goods/services are delivered.
• P2P Cycle involves the entire process of procuring goods or services, from identifying the need to paying the supplier.

• The cycle includes steps like requisition, purchase order, goods receipt, invoice receipt, and payment.

• AP work starts after the goods or services are received and the invoice is recei...read more
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Basic accounting questions

Q1. What is financial market
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Financial market is a platform where buyers and sellers trade financial securities, commodities, and other fungible items.
• Financial markets facilitate the exchange of assets such as stocks, bonds, currencies, and derivatives.

• They provide a platform for companies to raise capital through issuing stocks or bonds.

• Financial markets can be categorized into primary markets (new securities are issued) and secondary markets (e...read more
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Q2. What is investment banking
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Investment banking involves providing financial services to corporations, governments, and other institutions.
• Facilitates mergers and acquisitions

• Underwrites securities offerings

• Provides financial advisory services

• Assists with raising capital for clients

• Engages in trading and market-making activities
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Q3. What is Net Asset Value
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Net Asset Value (NAV) is the value of a fund's assets minus its liabilities, divided by the number of shares outstanding.
• NAV is calculated by subtracting the fund's liabilities from its assets.

• The result is then divided by the number of shares outstanding to determine the NAV per share.

• NAV is used to determine the price at which investors can buy or sell shares of the fund.

• It is an important metric for investors to tra
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Q1. Tell me about yourself
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Q2. Journal entries
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Q3. Talk on current affairs
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Mostly asked about the basics of derivatives and corporate action adjustments in the books

Q1. What was the journal entry for prepaid rent which has paid at beginning of the month for the whole year and entry at the end of month ?? Which is entry affects the networth??
Ans. 
Journal entry for prepaid rent paid at beginning and end of month affecting net worth.
• Debit prepaid rent account for the full amount paid at the beginning of the month

• Credit cash account for the same amount

• At the end of the month, debit rent expense account for the portion of rent used during the month

• Credit prepaid rent account for the same amount

• The entry at the end of the month affects the net worth as it reduces th...read more
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Q2. Why RBI increase Repo rate to control inflation ?
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RBI increases Repo rate to control inflation by reducing money supply and increasing cost of borrowing.
• Repo rate is the rate at which RBI lends money to commercial banks.

• When RBI increases Repo rate, it becomes expensive for banks to borrow money from RBI.

• Banks then increase their lending rates to customers, which reduces borrowing and spending.

• This reduces money supply in the economy, which helps in controlling inflat...read more
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Q3. What was difference between options and future?
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Options give the right but not the obligation to buy or sell an asset at a predetermined price, while futures require the buyer or seller to fulfill the contract at a specific date and price.
• Options provide flexibility to the buyer as they can choose whether or not to exercise the option, while futures require the buyer or seller to fulfill the contract.

• Options have a premium that the buyer pays to the seller for the r...read more
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Q4. What impact do share price have on issue of dividend ? And what was the reason behind it?
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The share price has an impact on the issue of dividends as it affects the dividend yield and the amount of cash paid out to shareholders.
• Share price affects the dividend yield, which is calculated by dividing the annual dividend per share by the share price.

• A higher share price reduces the dividend yield, making the stock less attractive to income-seeking investors.

• Share price also affects the amount of cash paid out a...read more
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Q5. What is the entry for share purchased today which will be credited into demat on T+2?
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The entry for share purchased today credited into demat on T+2 is a debit to the cash account and a credit to the demat account.
• Debit cash account

• Credit demat account

• Occurs on T+2

• Reflects purchase of shares
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Q6. What is the technical term we use for the bond interest
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The technical term for bond interest is coupon rate.
• Coupon rate is the fixed annual interest rate paid on a bond.

• It is expressed as a percentage of the bond's face value.

• For example, a bond with a face value of $1000 and a coupon rate of 5% will pay $50 in interest annually.

• Coupon payments are usually made semi-annually or quarterly.
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Q1. What was the developments that you would like to make in yourself
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Q2. Describe yourself in three adjectives
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Q1. Why should we hire you?
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Q2. Why you chose Morgan Stanley?
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Q3. Why you were interested in this role?
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Q4. Why you chose this industry?
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Q5. If you were offered more pay would you go to the competitior?
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