Kotak Mahindara Life Insurance Interview Questions, Process, and Tips

The Test was a basic one and it consisted of 3 Sections Reasoning, Quants and English.. Duration of the Test was 15-20 minutes.

Q1. The interview was a short one.. Probably of 8-10 minutes. Some basic Questions were asked based on academic & Educational qualifications.
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Q1. Tell me about urself
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Q1. What would you do if give an opportunity
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Q2. What is expectation
Ans. 
Expectation is a belief about what will happen in the future or what should happen in a particular situation.
• Expectation is a mental state that involves anticipating a certain outcome or result.

• It can be based on past experiences, societal norms, or personal desires.

• Expectations can influence behavior and emotions, leading to feelings of disappointment or satisfaction.

• Setting realistic expectations can help manage stre...read more
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Q1. Different lifestyle diseases and their diagnosis
Ans. Since I was in the underwriting dept, I was asked ques about lifestyle diseases, main focus being the diagnosis and medicines used to cure the diseases
Answered by Purva Samant
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Q1. Why do you want to join the organisation
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Q2. I want to explore a different tangent in my field (since I am a pharmacist)
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Q1. Tell me about yourself
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Q1. What is marginal costing
Ans. 
Marginal costing is a technique of costing in which only variable costs are considered for decision making.
• Marginal costing helps in determining the contribution margin of a product or service.

• It is useful in short-term decision making such as pricing, make or buy decisions, etc.

• Fixed costs are not considered in marginal costing as they are assumed to remain constant.

• It is also known as direct costing or variable costi...read more
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Q2. What is term plan in insurance
Ans. 
Term plan is a type of life insurance policy that provides coverage for a specific period of time.
• Term plan provides financial protection to the policyholder's family in case of their untimely demise

• Premiums for term plans are generally lower compared to other types of life insurance policies

• Term plans do not offer any maturity benefits if the policyholder survives the policy term

• Policyholders can choose the policy ter...read more
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Q1. What is internal audit
Ans. 
Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.
• Internal audit evaluates the effectiveness of an organization's risk management, control, and governance processes.

• It provides recommendations for improvement and helps the organization accomplish its objectives.

• Examples of internal audit activities include financial audits, opera...read more
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Q1. Interview taken from our resume
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Q1. Previous experience and Skills
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Q1. Fixing CTC and the Role
Ans. 
Fixing CTC involves determining the salary package for the role based on various factors.
• CTC includes salary, bonuses, and benefits

• Factors considered include industry standards, company budget, and candidate experience

• Negotiation may be required to reach a mutually beneficial agreement
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