TCS Senior Underwriter Interview Questions and Answers

I have 5 years of experience as a Senior Process Associate in a multinational company.

• Managed a team of 10 associates and ensured smooth workflow

• Implemented process improvements resulting in a 20% increase in efficiency

• Trained new hires on company policies and procedures

• Handled complex customer queries and resolved issues effectively

• Collaborated with cross-functional teams to streamline processes

The golden rules in accounting structure are the basic principles that guide the recording of financial transactions.

• Debit the receiver and credit the giver

• Debit what comes in and credit what goes out

• Debit expenses and losses and credit income and gains

• Examples: Debiting cash when receiving payment from a customer, crediting accounts payable when paying a supplier

Intercompany reconciliation is the process of matching and resolving discrepancies between transactions within a company's different entities.

• It involves comparing financial transactions between different entities of the same company

• It ensures that all transactions are accurately recorded and reported

• It helps identify and resolve any discrepancies or errors in the financial statements

• Examples include reconciling interc...read more

Threshold limit is the maximum or minimum level of something that is acceptable or allowed.

• It is used in various fields such as finance, environment, and safety regulations.

• For example, in finance, threshold limit refers to the maximum amount of money that can be transferred without triggering a regulatory review.

• In environmental regulations, threshold limit refers to the maximum amount of a pollutant that can be relea...read more

Accruals in SAP terminology refer to the recognition of expenses or revenues that have been incurred but not yet paid or received.

• Accruals are used to ensure that financial statements accurately reflect the financial position of a company.

• They are typically recorded at the end of an accounting period and reversed at the beginning of the next period.

• Examples of accruals include salaries and wages owed to employees, inte...read more

Credit and Debit cards are payment cards that allow you to make purchases without using cash.

• Credit cards allow you to borrow money from the card issuer up to a certain limit and pay it back later with interest.

• Debit cards are linked to your bank account and allow you to spend the money you have in your account.

• Both cards can be used to make purchases online, in stores, and at ATMs.

• Credit cards offer rewards and cashba...read more

Banking refers to the business of accepting deposits and lending money.

• Banking involves accepting deposits from customers and using those funds to provide loans and other financial services.

• Banks also offer services such as credit cards, investment products, and insurance.

• Banking is regulated by government agencies to ensure safety and soundness of the financial system.

• Examples of banks include JPMorgan Chase, Bank of