Wells Fargo Associate Vice President Finance Interview Questions and Answers

Q1. Difference between state and props in ReactJS.
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Q2. Lazy loading in ReactJS.
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Q1. Protocols used for communication.
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Q2. How socket communication works ?
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Q1. Design related questions. Java core
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Q2. Design problem to show how to retrieve data from dataverse model
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Retrieve data from dataverse model design problem
• Identify the specific data to be retrieved from the dataverse model

• Create a query to extract the desired data

• Utilize appropriate filters and conditions to narrow down the search results

• Implement the query in the code to fetch the data

• Handle any errors or exceptions that may occur during the retrieval process
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Hacker rank test link

Q1. General work and java related questions
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Q1. General work and java related questions
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Q1. Still needs to appear for it
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Q1. How to manage work if one employee is on annual leave and another one takes a sick leave
Ans. 
Delegate tasks, prioritize work, communicate with team members, adjust deadlines if necessary
• Delegate tasks to other team members to ensure work continues smoothly

• Prioritize work based on urgency and importance

• Communicate with team members about the situation and any adjustments that may be needed

• Adjust deadlines if necessary to accommodate the absence of employees

• Consider bringing in temporary help or redistributing w
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Q2. What is investment company act 1940
Ans. 
The Investment Company Act of 1940 regulates the organization of investment companies and the activities they engage in.
• Passed in 1940 to regulate the organization and activities of investment companies

• Requires registration with the SEC and disclosure of financial information to investors

• Sets standards for governance, operations, and transactions of investment companies

• Designed to protect investors from fraud and confl
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Q3. Where do you see yourself in the next 5yrs
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Q4. What are your strengths
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1 hour and topics accounting

Q1. Risk and Return comparison of different banking products
Ans. 
Different banking products offer varying levels of risk and return for investors.
• Banking products like savings accounts offer low risk but also low return

• Investing in stocks or mutual funds carries higher risk but potential for higher returns

• Certificates of deposit (CDs) offer a middle ground with moderate risk and return potential
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Q2. With above comparison, which are your product recommendation for bank.
Ans. 
I recommend implementing a digital banking platform with features like mobile banking, online account opening, and AI-powered chatbots.
• Implement a user-friendly mobile banking app for easy access to accounts and transactions

• Offer online account opening to attract new customers and streamline the onboarding process

• Integrate AI-powered chatbots for customer support and assistance with basic banking tasks
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Q1. What are key KPI for risk manager.
Ans. 
Key KPIs for risk managers include risk exposure, risk mitigation effectiveness, and compliance with regulations.
• Risk exposure: Measure the level of risk the organization is exposed to, such as financial, operational, or reputational risk.

• Risk mitigation effectiveness: Evaluate how well risk management strategies are reducing the impact of potential risks.

• Compliance with regulations: Ensure that the organization is mee...read more
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Q1. Basic HR questions
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Q2. Tell me about yourself, why do we hire you
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Q3. What is your strengths
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Q4. What is depreciation
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Depreciation is the allocation of the cost of a tangible asset over its useful life.
• Depreciation is a non-cash expense that reduces the value of an asset over time.

• It reflects the wear and tear, obsolescence, or decrease in value of an asset.

• Common methods of calculating depreciation include straight-line, double declining balance, and units of production.

• Example: A company purchases a delivery truck for $50,000 with a...read more
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Q5. Journal entries
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