50+ UnitedHealth Interview Questions and Answers

The team strength for the teams I facilitated Scrum ranged from 5 to 10 members.

• Team sizes varied based on the project requirements and complexity

• Smaller teams of 5 members were more efficient for quick decision-making

• Larger teams of 10 members were beneficial for complex projects requiring diverse skill sets

P2P and O2C are two different processes in accounting. P2P stands for Procure-to-Pay and O2C stands for Order-to-Cash.

• P2P involves the process of purchasing goods or services from a vendor, receiving the goods or services, and then paying the vendor for the goods or services.

• O2C involves the process of receiving an order from a customer, fulfilling the order, and then receiving payment from the customer.

• Both processes are important for internal audit as they involve financial...read more

Depreciation methods and asset life are important factors in financial accounting.

• Depreciation methods include straight-line, double-declining balance, and units of production.

• Asset life varies by category, such as buildings, vehicles, and equipment.

• The useful life of a building may be 40 years, while a vehicle may have a useful life of 5 years.

• Depreciation is important for accurately reporting the value of assets on financial statements.

To build automation capability, I will focus on identifying areas for automation, selecting appropriate tools, and training the team.

• Conduct a thorough analysis of the organization's processes to identify areas for automation

• Select appropriate automation tools based on the identified areas

• Train the team on the selected tools and provide ongoing support

• Develop a roadmap for automation implementation and prioritize tasks based on impact and feasibility

• Collaborate with stakehold...read more

Accounts Receivable audit involves verifying the accuracy and completeness of the recorded transactions.

• Verify the existence of the receivables by sending confirmations to customers.

• Check the accuracy of the recorded amounts by comparing them to supporting documents.

• Review the aging of the receivables to identify any potential issues with collection.

• Assess the adequacy of the allowance for doubtful accounts.

• Test the completeness of the recorded transactions by reviewing cutof...read more

Materiality level is set based on the significance of financial information to users of financial statements.

• Consider the size and nature of the item or error

• Assess the impact on financial statements and key ratios

• Evaluate the effect on users' decisions

• Use professional judgment and consider relevant laws and regulations

• Document the rationale for materiality level chosen

I have worked on various projects, including RFPs and EOIs. I am familiar with different types of RFPs, including fixed cost RFPs.

• I have experience working on projects that involve responding to RFPs and EOIs.

• I am familiar with different types of RFPs, such as open RFPs, closed RFPs, and sealed RFPs.

• I have worked on fixed cost RFPs, where the budget is predetermined and the vendor must work within that budget.

• EOI stands for Expression of Interest, which is a document used to ...read more

BRD stands for Business Requirements Document which outlines the business solution for a project. It is different from FRD which focuses on functional requirements.

• BRD defines the business solution and the business needs that drive the project.

• BRD includes information on business objectives, scope, stakeholders, risks, assumptions, constraints, and success criteria.

• FRD focuses on the functional requirements of the system, detailing how the system should behave.

• FRD includes de...read more

Capacity planning involves analyzing current and future resource needs to ensure optimal performance and efficiency.

• Assess current resource utilization and performance levels

• Forecast future demand based on historical data and growth projections

• Identify potential bottlenecks or areas of inefficiency

• Allocate resources accordingly to meet demand without over-provisioning

• Regularly review and adjust capacity plans as needed

Sprint planning involves setting goals, prioritizing tasks, estimating effort, and assigning work for the upcoming sprint.

• Discuss goals and objectives for the sprint with the team

• Prioritize the backlog items based on importance and dependencies

• Estimate the effort required for each task using story points or other metrics

• Assign tasks to team members based on their skills and availability

• Create a sprint backlog detailing the tasks to be completed during the sprint

The cost of assets is shown on the balance sheet, with market value disclosed in the notes if listed.

• Cost of assets is typically shown on the balance sheet under the relevant category

• If assets are listed on a stock exchange, their market value may be disclosed in the notes to the financial statements

• Market value may fluctuate and is not always the same as cost

PwC's core values include teamwork, excellence, and leadership. They strive to meet current and future expectations through innovation and collaboration.

• PwC values teamwork, excellence, and leadership

• They prioritize innovation and collaboration to meet current and future expectations

• PwC aims to provide quality service to clients and contribute to society

• They prioritize diversity and inclusion in their workforce

• PwC encourages continuous learning and development for their emplo...read more

Futures and options are financial derivatives that allow investors to hedge risk or speculate on price movements. Futures are standardized contracts traded on exchanges, while options give the holder the right, but not the obligation, to buy or sell an asset at a specified price.

• Futures are standardized contracts traded on exchanges, where parties agree to buy or sell an asset at a predetermined price on a future date.

• Options give the holder the right, but not the obligation,...read more

Cashflow statements show how cash is generated and used, while balance sheets show the financial position of a company at a specific point in time.

• Cashflow statements explain changes in cash balances over a period, while balance sheets provide a snapshot of assets, liabilities, and equity at a specific date.

• Both cashflow statements and balance sheets are essential financial statements used by investors, creditors, and management to assess the financial health of a company.

• The...read more

Sampling types include random, stratified, cluster, convenience, and quota sampling.

• Random sampling involves selecting participants randomly from the population.

• Stratified sampling involves dividing the population into subgroups and selecting participants from each subgroup.

• Cluster sampling involves selecting groups or clusters from the population and then selecting participants from within those clusters.

• Convenience sampling involves selecting participants who are easily acc...read more

Server side rendering is implemented by pre-rendering the initial state of a web page on the server before sending it to the client.

• Use a server-side rendering framework like Next.js or Nuxt.js

• Create components that can be rendered on the server using Node.js or other server-side technologies

• Optimize the server-side rendering process to improve performance

Kanban is another popular framework apart from Scrum.

• Kanban focuses on visualizing work, limiting work in progress, and maximizing flow.

• It is more flexible than Scrum as it does not have fixed time boxes like sprints.

• Kanban is often used in continuous delivery environments where work items have varying priorities and deadlines.

A data analytics project involves collecting, processing, analyzing, and visualizing data to gain insights and make informed decisions.

• Identify the problem or question to be answered

• Collect relevant data from various sources

• Clean and preprocess the data to ensure accuracy and consistency

• Analyze the data using statistical and machine learning techniques

• Visualize the results to communicate insights and findings

• Iterate and refine the analysis as needed

• Present the findings and re...read more

Change management process involves planning, implementing, and monitoring changes to achieve desired outcomes.

• Identify the need for change

• Plan and communicate the change

• Implement the change

• Monitor and evaluate the change

• Make adjustments as necessary

• Examples: software updates, organizational restructuring, policy changes

Memoizing a component involves caching the result of a function to improve performance.

• Use a memoization library like reselect or useMemo hook in React to cache the result of a function.

• Memoization helps avoid unnecessary re-computation by storing the result of expensive function calls.

• Example: In React, you can memoize a component using useMemo hook to prevent re-rendering unless the dependencies change.

Pricing procedure setup is the configuration of pricing elements in SAP system.

• Pricing procedure is a set of condition types that determine the price of a product or service.

• It involves defining access sequences, condition tables, and condition types.

• The pricing procedure is assigned to a sales document type.

• Example: A pricing procedure for a product can include condition types for base price, discounts, taxes, and freight charges.

Key audit matters are significant areas of the audit that require the most attention and have the highest risk of material misstatement.

• Revenue recognition

• Impairment of assets

• Valuation of inventory

• Going concern

• Related party transactions

• Taxation

• Litigation and claims

• Acquisitions and disposals

• Pensions and other post-employment benefits

• Financial instruments

• Business continuity and disaster recovery

• IT systems and controls

Attributes for user access provisioning and deprovisioning

• Clear and defined roles and responsibilities

• Automated processes for faster provisioning and deprovisioning

• Regular reviews and audits to ensure access is appropriate

• Segregation of duties to prevent conflicts of interest

• Proper documentation and tracking of access requests and approvals

Unrecorded liabilities can be tested through analytical procedures, inquiry, and review of contracts and agreements.

• Analyze historical data and trends to identify any unusual fluctuations or inconsistencies that may indicate unrecorded liabilities.

• Inquire with management about any potential liabilities that may not have been recorded in the financial statements.

• Review contracts, agreements, and other relevant documentation to identify any obligations that have not been record...read more

Pods are needed in 3rd party processes to ensure isolation and scalability of the application components.

• Pods provide a way to group containers together and manage them as a single unit.

• They ensure that each container has its own IP address and can communicate with other containers in the same pod.

• Pods also provide a way to scale the application horizontally by adding more pods.

• For example, in a microservices architecture, each service can be deployed in its own pod for isola...read more

Type of audit report and type of audit procedures

• The type of audit report depends on the auditor's opinion on the financial statements

• There are four types of audit reports: unqualified, qualified, adverse, and disclaimer

• The type of audit procedures depends on the nature of the audit engagement

• Audit procedures can include inquiry, observation, inspection, and confirmation

• The auditor must select appropriate audit procedures to obtain sufficient and appropriate audit evidence

KFF stands for Key Flexfield in Asset Module. It is used to capture additional information about assets.

• KFFs are customizable fields that allow users to define additional attributes for assets.

• They can be used to track specific information such as location, department, or cost center.

• KFFs can be configured based on the organization's requirements to capture relevant data for reporting purposes.

Accuracy refers to the correctness of information, while completeness refers to having all necessary information present.

• Accuracy ensures that information is free from errors or mistakes.

• Completeness ensures that all relevant information is included.

• Accuracy and completeness are essential for making informed decisions and drawing accurate conclusions.

• Examples: A financial report that accurately reflects the company's financial status is both accurate and complete.

• Examples: A ...read more

Risk in my process refers to the potential for negative outcomes or failures due to uncertainties or unforeseen events.

• Risk can arise from various sources such as human error, technical failures, or external factors.

• Identifying and assessing risks is crucial for effective risk management.

• Examples of risks in my process could include delays in project timelines, budget overruns, or data security breaches.

The tax percentages vary across different countries in the EU.

• Tax percentages in the EU vary due to different tax systems and policies.

• Some countries have higher tax rates to fund social welfare programs.

• Others have lower tax rates to attract foreign investments.

• Tax rates can differ for various types of taxes, such as income tax, corporate tax, and value-added tax (VAT).

• For example, the top income tax rate in Sweden is 57.1%, while in Bulgaria it is 10%.

• In terms of corporate ...read more

Credit agreements are legal documents outlining terms and conditions of a loan. Deals and facilities include term loans, revolving credit, and letters of credit.

• Credit agreements are used to formalize lending arrangements between a borrower and a lender.

• They outline the terms and conditions of the loan, including interest rates, repayment schedules, and collateral requirements.

• Types of deals and facilities include term loans, revolving credit, and letters of credit.

• Term loans...read more

Different stages of software development

• Planning and requirements gathering

• Design and architecture

• Implementation and coding

• Testing and quality assurance

• Deployment and maintenance

Different types of risks and controls involve identifying, assessing, and managing potential threats to an organization.

• Types of risks include strategic, financial, operational, compliance, and reputational risks.

• Controls are measures put in place to mitigate risks, such as policies, procedures, and internal audits.

• Examples of controls include segregation of duties, access controls, and regular risk assessments.

• Risk management involves identifying risks, assessing their poten...read more

Controls in Procure to pay process ensure accuracy, efficiency, and compliance in purchasing and payment activities.

• Segregation of duties to prevent fraud

• Approval hierarchy for purchase orders and invoices

• Vendor master data maintenance and verification

• Matching of purchase orders, goods receipts, and invoices

• Regular reconciliation of accounts payable

• Use of electronic procurement systems for audit trails

Reactive programming is a programming paradigm focused on asynchronous data streams and the propagation of changes.

• Uses data streams to represent changes over time

• Emphasizes declarative programming

• Commonly used in frameworks like RxJava and Reactor

Attributes to check in a review control include accuracy, completeness, timeliness, relevance, and compliance.

• Accuracy - Ensure that the information provided is correct and free from errors.

• Completeness - Verify that all necessary information is included and nothing is missing.

• Timeliness - Confirm that the review is conducted in a timely manner to meet deadlines.

• Relevance - Check if the review addresses the relevant aspects and meets the objectives.

• Compliance - Ensure that th...read more

Prorate convention is a method used to calculate interest or fees for a partial period of time.

• Prorate convention is commonly used in finance and accounting to determine the amount of interest or fees that should be charged for a partial period.

• It involves dividing the total interest or fees by the number of days in the period and then multiplying by the number of days in the partial period.

• For example, if a loan has an annual interest rate of 10% and a prorate convention of ...read more

Non deduction of TDS can lead to penalties and legal consequences.

• Non deduction of TDS can result in penalties and interest charges.

• The taxpayer may also face legal consequences and prosecution.

• The deductee may face difficulties in claiming credit for the tax deducted at source.

• Non deduction of TDS can also lead to increased scrutiny from tax authorities.

• For example, if an employer fails to deduct TDS on salary payments, the employee may face difficulties in filing their tax ...read more

Investment can be valued using various methods such as discounted cash flow, comparable company analysis, and precedent transactions.

• Discounted cash flow (DCF) method calculates the present value of expected future cash flows.

• Comparable company analysis compares the target company to similar publicly traded companies.

• Precedent transactions method looks at the prices paid for similar companies in the past.

• Other methods include net asset value (NAV) and earnings multiples.

• The c...read more

Promises are commitments made by one party to another, to fulfill a certain task or obligation within a specified time frame.

• Promises involve a commitment or assurance to do something

• They are often made between two parties

• There is an expectation of fulfillment within a specified time frame

• Failure to fulfill a promise can lead to consequences

Process refers to the series of actions or steps taken to achieve a specific goal, while control refers to the measures put in place to ensure the process is carried out effectively and efficiently.

• Process is the set of activities or steps taken to achieve a specific goal.

• Control involves monitoring and managing the process to ensure it is carried out effectively and efficiently.

• Process focuses on the 'how' of achieving a goal, while control focuses on the 'monitoring and man...read more

User onboarding is the process of introducing new users to a product or service and helping them get started.

• Provide clear instructions and guidance on how to use the product or service

• Offer tutorials or walkthroughs to help users understand the features and functionality

• Simplify the registration process and make it easy for users to create an account

• Provide support and assistance to users who encounter issues or have questions

• Collect feedback from users to improve the onboar...read more

IDoc is a SAP document format used for data exchange between systems. There are different types of IDocs for different purposes.

• IDoc configuration involves defining the message type, basic type, and segments

• Types of IDocs include: ORDERS, INVOIC, DELVRY03, and more

• IDocs can be sent and received through various methods such as ALE, EDI, and RFC

• IDoc processing involves inbound and outbound processing, error handling, and monitoring

oData is a protocol for querying and updating data over the web

• oData stands for Open Data Protocol

• It is a standardized protocol for creating and consuming data APIs

• oData uses RESTful principles for data access

• It allows for querying and updating data using HTTP methods like GET, POST, PUT, DELETE

• Example: oData can be used to query a database for specific records based on filters

Fiori launchpad is a web-based entry point that provides access to Fiori apps and business roles.

• Fiori launchpad is a central hub for accessing SAP Fiori apps and business roles.

• Users can personalize their launchpad by adding tiles for their most frequently used apps.

• It provides a single point of access to all Fiori apps, making it easier for users to navigate and perform tasks.

• Administrators can configure the launchpad to display specific apps based on user roles and permiss...read more

ForgeRock IDM is an identity management software that provides secure access to applications and services.

• ForgeRock IDM allows organizations to manage user identities and access privileges across multiple systems and applications.

• It provides a centralized platform for managing user authentication, authorization, and provisioning.

• ForgeRock IDM supports various authentication protocols such as OAuth, SAML, and OpenID Connect.

• It also offers features like self-service registratio...read more

Addressing risks involves identifying, assessing, and mitigating potential threats to a project or organization.

• Identify potential risks through risk assessment techniques such as SWOT analysis or brainstorming sessions

• Assess the likelihood and impact of each risk to prioritize them for mitigation

• Mitigate risks through strategies like risk transfer, risk avoidance, risk reduction, or risk acceptance

• Monitor and review risks regularly to adapt mitigation strategies as needed

Trade life cycle is the process of a trade from initiation to settlement.

• Trade initiation: Trade is proposed and agreed upon by parties involved.

• Trade execution: Trade is executed on the agreed terms.

• Trade confirmation: Parties confirm the details of the trade.

• Trade settlement: Payment and transfer of securities are completed.

• Trade reconciliation: Ensuring all details match between parties involved.

• Trade reporting: Reporting the trade to relevant authorities.

• Trade lifecycle m...read more

BRD and FRD are two types of documents used in software development to define project requirements.

• BRD stands for Business Requirements Document and outlines the business objectives and goals of the project.

• FRD stands for Functional Requirements Document and outlines the technical requirements and specifications of the project.

• BRD is focused on the business perspective while FRD is focused on the technical perspective.

• BRD is created by the business analyst while FRD is create...read more

Types of risks include market risk, credit risk, operational risk, and liquidity risk.

• Market risk: the risk of financial loss due to changes in market conditions (e.g. interest rates, exchange rates)

• Credit risk: the risk of loss due to a borrower not repaying a loan or debt

• Operational risk: the risk of loss due to internal processes, people, or systems failing

• Liquidity risk: the risk of not being able to sell an asset quickly enough without significantly impacting its price

Key challenges faced include managing multiple projects simultaneously, meeting tight deadlines, and adapting to changing client needs.

• Managing multiple projects simultaneously

• Meeting tight deadlines

• Adapting to changing client needs

There are 5 radio buttons

• Count each individual radio button

• Ensure all radio buttons are included in the count