KPMG India Actuarial Analyst Interview Questions and Answers

Q1. Can you explain the 95th percentile?
Ans. 
The 95th percentile is a statistical measure that represents the value below which a certain percentage of observations fall.
• The 95th percentile is the value below which 95% of the data falls.

• It is commonly used in finance, healthcare, and other fields to analyze data distribution.

• For example, if a test score is at the 95th percentile, it means that 95% of test takers scored below that score.
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Q2. What are economies of scale?
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Economies of scale refer to the cost advantages that a business can achieve due to an increase in production or scale of operation.
• Economies of scale result in lower average costs as production increases.

• Examples include bulk purchasing discounts, specialization of labor, and increased efficiency in production processes.

• Businesses can benefit from economies of scale by spreading fixed costs over a larger quantity of go
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Q3. What is a random variable?
Ans. 
A random variable is a variable whose possible values are outcomes of a random phenomenon.
• Random variables can be discrete or continuous.

• Discrete random variables have a finite or countably infinite number of possible values.

• Continuous random variables can take any value within a range.

• Examples include the number of heads in multiple coin flips (discrete) and the height of a person (continuous).
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Q1. Can you explain economies of scale?
Ans. 
Economies of scale refer to the cost advantages that a business can achieve due to an increase in production or scale of operation.
• Economies of scale occur when the average cost per unit decreases as the volume of production increases.

• This can be achieved through factors such as bulk purchasing, specialization of labor, and increased efficiency in production processes.

• Examples include a factory being able to produce mo...read more
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Q1. Describe a time you had to communicate with someone who you didn't agree with
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Q1. Tell me about yourself basic questions as per your resume
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Q2. The interviewer was a bic
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Q1. Generic Hire Vue questions such as Tell me about yourself, about a time you had a conflict of interest and how did you solve them etc
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Q2. Search Hire Vue questions on YT and prepare for them. Pretty easy tbh. There were 6 questions
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I had applied for Willis Towers Watson through Delhi University. We received the results for Hire Vue test after 1.5 months and were invited to their Gurgaon office 20 days later for aptitude test.
There were 10 questions in the aptitude test.
1. Train, Runner, Speed Time Distance
2. Accounting Ratios
3. Probability
4. Clocks
5. Buy back of shares
Don't remember the rest

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Q1. Explain central limit theorem
Ans. 
Central Limit Theorem states that the sampling distribution of the sample mean approaches a normal distribution as the sample size increases.
• Central Limit Theorem is a fundamental concept in statistics that states that the sampling distribution of the sample mean will be approximately normally distributed, regardless of the shape of the population distribution.

• It is important because it allows us to make inferences abo...read more
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Q1. Why actuarial science?
Ans. 
I chose actuarial science for its unique blend of mathematics, statistics, and business applications.
• I have always had a strong interest in mathematics and statistics.

• I enjoy applying quantitative skills to real-world problems.

• Actuarial science offers a challenging and rewarding career path with opportunities for growth and advancement.

• I appreciate the blend of analytical and business skills required in the field.

• I am ...read more
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Basic maths questions

They provide one topic on the spot and you have to discuss with other candidates

Q1. How would you use mortality table
Ans. 
Mortality tables are used by actuaries to predict the likelihood of death at different ages.
• Mortality tables provide data on the probability of death at different ages, which is crucial for calculating life insurance premiums and pension plans.

• Actuaries use mortality tables to estimate life expectancies and determine appropriate reserves for insurance companies.

• These tables are also used to analyze trends in mortality ...read more
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Q2. How can triangles be used for calculating reserves
Ans. 
Triangles can be used in actuarial analysis to calculate reserves by grouping data into different time periods.
• Triangles help in analyzing the development of claims over time

• They are typically used for calculating reserves in insurance companies

• The data is grouped into different triangles based on the time period, such as accident year and development year
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Q3. Some general puzzles
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