ZedPlus Accounting and Finance Finance Executive Interview Questions and Answers

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Q1. What are different types of interest rates
Ans. 
Different types of interest rates include fixed, variable, prime, and LIBOR rates.
• Fixed interest rates remain the same throughout the loan term

• Variable interest rates fluctuate based on market conditions

• Prime rates are the interest rates that banks charge their most creditworthy customers

• LIBOR rates are the average interest rates at which major global banks borrow from one another
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Q2. Variable, Fixed and Split
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Q3. What is the full form of FHOG
Ans. 
FHOG stands for First Home Owner Grant.
• FHOG is a government initiative to help first home buyers purchase or build their first home.

• The grant amount and eligibility criteria vary by state or territory.

• For example, in New South Wales, Australia, the FHOG is $10,000 for new homes up to $750,000.

• Applicants must meet certain criteria such as being a first home buyer and intending to live in the property.
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Q4. What is standard variable rate
Ans. 
Standard variable rate is the interest rate set by a financial institution that can fluctuate based on market conditions.
• Standard variable rate is the interest rate charged on a loan or mortgage that can go up or down depending on various factors.

• It is typically tied to a benchmark rate, such as the prime rate or LIBOR.

• Changes in the standard variable rate can impact the monthly payments of borrowers.

• Borrowers may choo...read more
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Q5. What is a unit
Ans. 
A unit is a standard quantity used to measure or express a specific amount of something.
• A unit can be a standard measurement of length, weight, volume, etc.

• Examples include meters, kilograms, liters, etc.

• Units are used to quantify and compare different quantities of the same type.
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Q1. Tell me about yourself
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Q2. What is your Expected CTC
Ans. 
My expected CTC is based on my experience, skills, and the market rate for the position.
• My expected CTC is in line with industry standards for someone with my level of experience and expertise.

• I have researched the average salary range for Finance Executives in this region and have based my expectations on that.

• I am open to negotiation based on the overall compensation package offered by the company.

• I am looking for a ...read more
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Q1. What is LMI? when LMI is required?
Ans. 
LMI stands for Lenders Mortgage Insurance, required when a borrower has a deposit of less than 20% of the property value.
• LMI is a type of insurance that protects the lender in case the borrower defaults on their mortgage.

• It is typically required when the borrower has a deposit of less than 20% of the property value.

• The cost of LMI is usually added to the borrower's loan amount.

• LMI does not provide any protection or ben...read more
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Q2. What are types of interest rates?
Ans. 
Types of interest rates include fixed, variable, prime, and LIBOR.
• Fixed interest rates remain the same throughout the loan term.

• Variable interest rates fluctuate based on market conditions.

• Prime interest rates are the rates offered by banks to their most creditworthy customers.

• LIBOR (London Interbank Offered Rate) is the average interest rate at which major global banks borrow from one another.
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Q3. How will you recommend the interest rate to clients?
Ans. 
I will recommend interest rates to clients based on market trends, financial goals, and risk tolerance.
• Analyze current market trends and economic indicators to determine the optimal interest rate recommendation

• Consider the client's financial goals and risk tolerance when suggesting interest rates

• Provide clients with various interest rate options and explain the potential benefits and risks of each

• Regularly review and a...read more
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