2000+ Consultant Interview Questions and Answers

Customers leaving a US-based international bank in Asia for local/regional banks.

• Possible reasons could be lack of understanding of local market and culture

• Inability to provide personalized services to customers

• Higher fees and charges compared to local/regional banks

• Competition from other international banks with better offerings

• Negative perception due to scandals or controversies involving the bank

• Lack of innovation and adoption of new technologies

• Language barriers and commu...read more

Entry for travel expenses incurred and reimbursed by employee

• Employee submits travel expense report with receipts

• Finance team verifies and approves the report

• Entry is made in the accounting system debiting travel expense and crediting accounts payable

• Once reimbursement is made, entry is made debiting accounts payable and crediting cash/bank account

The CEO should diversify the company's product portfolio and explore new markets to overcome the stagnant revenue and profits in the telecom sector.

• Diversify the product portfolio to reduce reliance on a single product

• Explore new markets and industries where the product can be applicable

• Invest in research and development to innovate and create new products

• Improve marketing and sales strategies to reach a wider customer base

• Consider strategic partnerships or acquisitions to ex...read more

Drawing balls and adding to pile based on color. Will the last ball left be unique and what color?

• Drawing 2 balls at a time and adding to pile based on color

• If same color, add a blue ball. If different color, add a red ball

• Question asks if last ball left will be unique and what color it will be

The travel agent charges Rs.50000 for a Lufthansa flight to Paris and a Continental flight to New York. What part goes to each airline?

• The cost breakdown will depend on the agreement between the travel agent and the airlines.

• Typically, the majority of the cost will go to the long-haul flight, which in this case is the Continental flight from Paris to New York.

• Lufthansa will receive a smaller portion of the cost for the short-haul flight from the origin to Paris.

• Without knowin...read more

Minimum time needed to cook 3 slices of bread on both sides using a toaster with 2 slice capacity at a time.

• Cook 2 slices on one side for the first round

• Cook the third slice on one side for the second round

• Cook the first 2 slices on the other side for the third round

• Cook the third slice on the other side for the fourth round

• Total minimum time needed is 4 rounds or 2 minutes

To push up declining sales of a major player in the ready to eat food category in Tier I cities in India, recommendations include targeting IT/consult sector people and hostelites, improving product packaging and branding, offering discounts and promotions, expanding distribution channels, and conducting market research.

• Target the IT/consult sector people and hostelites as the primary consumer segment

• Improve product packaging and branding to attract attention and differentiat...read more

Prepaid expenses are initially recorded as assets and then expensed over time as they are used.

• Prepaid expenses are recorded as assets on the balance sheet

• Journal entry: Debit Prepaid Expense, Credit Cash/Bank

• As the prepaid expense is used, it is expensed and moved from the balance sheet to the income statement

• Journal entry: Debit Expense, Credit Prepaid Expense

Four people cross a bridge at night with one torch in the minimum time possible.

• Identify the crossing times: 1 min, 2 min, 7 min, and 10 min.

• Always send the two fastest people back with the torch.

• Use the strategy of minimizing the time spent by the slowest individuals.

Segmenting customer base and differentiating cost structure for after sales service market entry

• Segment customer base based on demographics, usage patterns, and brand preferences

• Target services based on customer needs and preferences

• Differentiate cost structure by offering competitive pricing, bundled services, and loyalty programs

• Offer value-added services such as extended warranties, maintenance packages, and roadside assistance

• Leverage technology to improve service deliver...read more

B's new mobile video calling service is likely to succeed due to its 3G network and strong brand appeal among young customers.

• B has a 3G network, enabling high-quality video calls, while A lacks this capability.

• B's brand positioning appeals to the young crowd, fostering emotional attachment and loyalty.

• The growing demand for video calling, especially post-pandemic, supports B's service launch.

• Competitors like WhatsApp and Zoom have popularized video calling, creating a market...read more

The consultant should analyze the market and recommend strategies to address the flat demand.

• Analyze the market conditions and trends to understand the reasons for the flat demand

• Identify potential opportunities for growth in the market

• Evaluate the competition and their strategies

• Assess the company's product offerings and pricing strategy

• Recommend diversification into new markets or product lines

• Suggest marketing and promotional activities to increase brand awareness

• Advise on...read more

Use Talend job dependencies to ensure one job doesn't fail if the other does.

• Create a parent job that calls both jobs as child jobs

• Use the OnSubjobOk and OnSubjobError triggers to handle success and failure of child jobs

• Set the 'Die on child error' option to false in the parent job to ensure it continues even if a child job fails

SCOM monitoring tool uses a database to store and process data. It also requires management packs for monitoring different components.

• Data flows from agents to management servers and then to the database

• SCOM uses SQL Server as its database

• Data grooming queries can be found in the OperationsManagerDW database

• Operations Console grooming values can be set in the Administration workspace

• To unseal a management pack, use the 'Unseal-ManagementPack' PowerShell cmdlet

• Examples of mana...read more

During my articleship, I faced an audit and accounting issue related to revenue recognition.

• The issue was that a client had recognized revenue from a long-term contract upfront, which was not in accordance with the accounting standards.

• I resolved the issue by thoroughly reviewing the contract terms and conditions, and comparing them with the revenue recognition criteria specified in the accounting standards.

• I also consulted with senior auditors and accounting experts to ensur...read more

Yes, the acquisition should be done.

• The acquisition would allow the South American toffee manufacturer to expand its product portfolio and enter the premium chocolate market.

• It would provide access to European distribution channels and a well-established brand in the European market.

• Synergies can be achieved through shared resources, economies of scale, and cross-selling opportunities.

• The acquisition may lead to increased market share and competitive advantage.

• Cultural differ...read more

Profit and Loss account, Balance Sheet, and Cash flow statement are different financial statements used for different purposes.

• Profit and Loss account shows the company's revenues, expenses, and net profit or loss over a specific period.

• Balance Sheet provides a snapshot of a company's financial position at a specific point in time, showing its assets, liabilities, and shareholders' equity.

• Cash flow statement tracks the inflow and outflow of cash in a company, providing inform...read more

Various types of risk include financial, operational, strategic, compliance, and reputational.

• Financial risk: risk of financial loss due to market fluctuations, credit defaults, etc.

• Operational risk: risk of loss due to internal processes, systems, or human error.

• Strategic risk: risk of loss due to changes in business strategy or external factors.

• Compliance risk: risk of loss due to failure to comply with laws and regulations.

• Reputational risk: risk of loss due to damage to a...read more

A RAID Log is a project management tool used to track Risks, Assumptions, Issues, and Dependencies.

• RAID stands for Risks, Assumptions, Issues, and Dependencies

• It is a project management tool used to track and manage these four aspects

• It helps in identifying potential risks and dependencies that may impact the project

• It also helps in tracking and resolving issues that arise during the project

• Examples of Risks: Budget overruns, resource constraints, delays in delivery

• Examples o...read more

Set is a collection of unique elements, List is an ordered collection of elements, and Map is a collection of key-value pairs.

• Set does not allow duplicates, e.g. a set of integers {1, 2, 3, 4, 5}

• List maintains the order of elements, e.g. a list of names ['John', 'Mary', 'Bob']

• Map stores key-value pairs, e.g. a map of phone numbers {'John': '123-456-7890', 'Mary': '987-654-3210'}

Constructing an environment friendly building can be a beneficial and innovative opportunity for the real estate developer.

• Constructing an environment friendly building can attract environmentally conscious tenants.

• It can lead to cost savings in terms of energy efficiency and reduced maintenance.

• The project can enhance the developer's reputation as a socially responsible company.

• Government incentives and grants may be available for environment friendly projects.

• The developer ...read more

Ind AS 109 prescribes the principles for recognition, measurement, presentation and disclosure of financial assets, financial liabilities and equity instruments.

• Ind AS 109 applies to all financial instruments except for those specifically excluded.

• Financial assets and liabilities are recognized when the entity becomes a party to the contractual provisions of the instrument.

• Equity instruments are recognized when the entity becomes a party to the contractual provisions of the i...read more

To optimize costs during Covid-19, technology is essential. Here are some financial and technical suggestions to convince someone.

• Explain how technology can automate processes and reduce manual labor costs

• Provide examples of successful cost optimization through technology implementation

• Highlight the long-term benefits of technology investment for cost savings

• Suggest cloud-based solutions to reduce infrastructure costs

• Recommend the use of data analytics to identify cost-saving...read more

Oracle databases utilize various index types to optimize query performance and data retrieval efficiency.

• B-tree Index: The default index type, suitable for equality and range queries. Example: Index on a 'customer_id' column.

• Bitmap Index: Efficient for columns with low cardinality, often used in data warehousing. Example: Index on a 'gender' column.

• Function-based Index: Allows indexing on expressions or functions. Example: Index on 'UPPER(last_name)'.

• Reverse Key Index: Useful...read more

Strategies for a European pharma to double sales from €5bn to €10bn in 5 years.

• Expand into emerging markets like Asia and Africa, where pharmaceutical demand is growing.

• Invest in R&D to innovate new drugs, targeting unmet medical needs.

• Consider strategic partnerships or acquisitions to enhance product portfolio.

• Optimize pricing strategies to improve margins while remaining competitive.

• Enhance marketing efforts to increase brand awareness and customer engagement.

Identifying cost and revenue items in event management to optimize profitability through strategic decisions.

• Items of Cost: Venue leasing and renting costs, staffing, marketing expenses.

• Items of Revenue: Ticket sales, merchandise sales, sponsorships.

• Leasing vs. Renting: Leasing may provide long-term stability, while renting offers flexibility for short-term events.

• Graded Seating: Implementing tiered pricing for different seating sections can maximize revenue based on demand.

• M...read more

The source row will be treated as an update, but the target object will be deleted.

• The session level property 'Treat source row as Update' will be applied to the source row.

• The target object will be deleted regardless of the update status of the source row.

• This can result in data loss if the source row contains important information.