PwC Guidewire Developer Interview Questions and Answers

Q1. Explain your framework
Ans. 
Our framework is a hybrid framework combining data-driven and keyword-driven approaches for efficient testing.
• Combines data-driven and keyword-driven testing

• Uses reusable test scripts and data sets

• Supports both manual and automated testing

• Provides detailed reporting and logging

• Integrates with CI/CD pipelines for continuous testing
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Q2. Guidewire Project details
Ans. 
Guidewire is a software platform used by insurance companies for policy administration, claims management, and billing.
• Guidewire provides solutions for property and casualty insurance companies

• It helps streamline processes, improve customer service, and increase operational efficiency

• Examples of Guidewire products include PolicyCenter, ClaimCenter, and BillingCenter
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Q3. Deductible amount increases or decreases when premium increase
Ans. 
Deductible amount typically increases when premium increases.
• Deductible amount is the out-of-pocket cost a policyholder must pay before insurance coverage kicks in

• Premium is the amount paid for insurance coverage

• Higher premiums often result in lower deductibles to make insurance more affordable

• Lower premiums may come with higher deductibles to offset the cost

• Insurance companies may offer different deductible options fo
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Q1. What do you mean by window dressing of balance sheet
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Window dressing of balance sheet refers to manipulating financial statements to make a company appear more financially stable than it actually is.
• It involves using accounting tricks to improve the appearance of financial ratios and metrics.

• Examples include inflating revenue, deferring expenses, and understating liabilities.

• Window dressing is often used to impress investors or lenders, but it can be misleading and uneth...read more
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Q2. What are options
Ans. 
Options are choices or alternatives that are available to a person or organization.
• Options provide flexibility and allow for decision-making.

• Examples of options include different insurance policies, investment opportunities, or career paths.

• Options can also refer to financial instruments such as stock options or futures contracts.
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Q3. Journal entry of drawings from own proprietary business
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Journal entry of drawings from own proprietary business
• Create a journal entry with the date of the transaction

• Debit the drawings account and credit the owner's equity account

• Include the amount of the drawings in the entry

• Example: On 1/1/2021, $500 was withdrawn from the business for personal use. Debit Drawings for $500 and credit Owner's Equity for $500
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Q4. What is acid test ratio
Ans. 
Acid test ratio is a financial metric used to measure a company's ability to pay off its short-term liabilities with its current assets.
• Also known as quick ratio

• Formula: (Current Assets - Inventory) / Current Liabilities

• A ratio of 1 or higher is considered good

• Helps assess a company's liquidity and financial health
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Q5. Excel difference between sum sumif
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Sum adds all values in a range, while Sumif adds values based on a condition.
• Sum: =SUM(A1:A5) adds all values in range A1 to A5

• Sumif: =SUMIF(A1:A5,">3") adds values in range A1 to A5 where value is greater than 3
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