ZedPlus Accounting and Finance Interview Questions, Process, and Tips

Modules based on Australian mortgage

Q1. Situational questions based on modules
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Q2. Define LMI and LVR
Ans. 
LMI stands for Lenders Mortgage Insurance, which protects the lender in case the borrower defaults on the loan. LVR stands for Loan to Value Ratio, which is the ratio of the loan amount to the value of the property.
• LMI is an insurance policy that protects the lender in case the borrower defaults on the loan.

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

• LVR is the ratio o...read more
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Q3. Lender mortgage insurance
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Certification of a module

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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They provide a study material and you need to score from that

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
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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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