Boss Interview Questions and Answers

Partnership deed is mandatory for a partnership firm

• Partnership deed is a legal document that outlines the terms and conditions of the partnership

• It includes details such as the name of the firm, the names of the partners, their capital contributions, profit sharing ratio, etc.

• It is important to have a partnership deed to avoid any disputes or misunderstandings between the partners

• It is also required for registration of the partnership firm with the Registrar of Firms

• Partners...read more

The three pillars of loan eligibility are credit score, income, and collateral.

• Credit score: A good credit score indicates a borrower's ability to repay the loan.

• Income: Sufficient income is necessary to ensure timely loan repayments.

• Collateral: Providing collateral reduces the risk for the lender and increases loan eligibility.

• Example: A person with a high credit score, stable income, and valuable collateral has a higher chance of loan approval.

Assessing income of SENP segment

• Analyze income sources such as salary, investments, and rental income

• Consider debt-to-income ratio and credit history

• Look at demographic data and economic trends in the area

• Use financial statements and tax returns to verify income

• Compare income to expenses and debt obligations

Underwriting is the process of evaluating the risk of a loan or investment and determining if it meets the lender's criteria.

• Underwriting involves analyzing financial statements, credit reports, and other relevant information to determine the borrower's ability to repay the loan.

• The underwriter also assesses the value of the collateral and the overall market conditions.

• Examples of underwriting include mortgage underwriting, insurance underwriting, and investment underwriting....read more

To check legal report, obtain a copy from relevant authority and review for any legal issues. Incumbrance refers to any legal claims on property.

• Obtain a copy of the legal report from relevant authority

• Review the report for any legal issues such as pending lawsuits or liens

• Incumbrance refers to any legal claims on property such as mortgages or unpaid taxes