SitusAMC Interview Questions, Process, and Tips

OOPs is a programming paradigm based on the concept of objects, which can contain data and code.

• Encapsulation - bundling of data and methods that manipulate the data

• Inheritance - ability of a class to inherit properties and methods from a parent class

• Polymorphism - ability of objects to take on many forms

• Abstraction - hiding of complex implementation details from the user

• Example: A car object can have properties like c...read more

Design patterns are reusable solutions to common software design problems. Singleton and Factory are two popular design patterns.

• Singleton pattern ensures that only one instance of a class is created and provides a global point of access to it.

• Factory pattern provides an interface for creating objects in a superclass, but allows subclasses to alter the type of objects that will be created.

• Design patterns help in creati...read more

A rental agreement is a legal contract outlining terms between a landlord and tenant for property rental.

• Defines the rental period, e.g., one year lease.

• Specifies rent amount and payment due dates, e.g., $1,200 monthly.

• Outlines responsibilities for maintenance and repairs.

• Includes rules for property use, e.g., no pets allowed.

• Details the process for terminating the agreement.

Loans can be categorized into various types based on purpose, repayment terms, and security.

• Personal Loans: Unsecured loans for personal use, e.g., medical expenses.

• Mortgage Loans: Secured loans for purchasing real estate, e.g., home loans.

• Auto Loans: Secured loans specifically for purchasing vehicles.

• Student Loans: Loans designed to cover educational expenses, e.g., federal student loans.

• Business Loans: Loans for busi

FHA loans are government-backed mortgages designed to help low-to-moderate income borrowers qualify for home financing.

• FHA stands for Federal Housing Administration, which insures these loans.

• Lower down payment requirements, often as low as 3.5%.

• Credit score requirements are more lenient compared to conventional loans.

• FHA loans can be used for purchasing single-family homes, multi-family homes, and certain types of con...read more

Property value and condition are influenced by location, market trends, property features, and economic factors.

• Location: Proximity to schools, parks, and public transport can enhance value. For example, properties in urban areas often command higher prices.

• Market Trends: Supply and demand dynamics affect property values. A booming economy can lead to increased property prices.

• Property Features: Size, layout, and ameni...read more

Identifying red flags in income and property documentation is crucial for accurate analysis and risk assessment.

• Inconsistent income sources: If income varies significantly month-to-month without explanation, it may indicate instability.

• Unverifiable income: Documentation lacking third-party verification, such as pay stubs or tax returns, raises concerns.

• Discrepancies in reported income: Differences between stated income...read more