100+ Junior Associate Interview Questions and Answers

Reverse Repo Rate and Repo Rate are monetary policy tools used by Reserve Bank of India to control inflation and liquidity in the economy.

• Repo Rate is the rate at which RBI lends money to commercial banks in case of shortage of funds.

• Reverse Repo Rate is the rate at which RBI borrows money from commercial banks.

• Both rates are used to control inflation and liquidity in the economy.

• If RBI wants to increase liquidity, it reduces Repo Rate and if it wants to decrease liquidity, i...read more

Financial system is a network of institutions, markets, and intermediaries that facilitate the flow of funds between savers and borrowers.

• Regulatory bodies include SEC, FDIC, CFTC, OCC, and Federal Reserve

• SEC regulates securities markets and protects investors

• FDIC insures deposits in banks and savings associations

• CFTC regulates futures and options markets

• OCC supervises and regulates national banks

• Federal Reserve regulates monetary policy and oversees the banking system

H-Lookup and V-Lookup are functions in MS Excel used to search for specific data in a table.

• H-Lookup searches for data in a horizontal row and returns a corresponding value from a specified column.

• V-Lookup searches for data in a vertical column and returns a corresponding value from a specified row.

• Both functions require a reference table and a lookup value.

• They are commonly used in data analysis and management.

• Example: H-Lookup can be used to find the price of a specific ite...read more

Insurance is a contract between an individual and an insurance company to protect against financial loss.

• Insurance provides financial protection against unexpected events such as accidents, illnesses, and natural disasters.

• It helps individuals and businesses manage risk by transferring the risk to the insurance company.

• Insurance also provides peace of mind and can help individuals and businesses recover from financial losses.

• Examples of insurance include health insurance, car...read more

I would suggest a life insurance policy with a critical illness rider.

• A life insurance policy will provide financial security to the dependents in case of the policyholder's untimely demise.

• A critical illness rider will provide coverage for major illnesses like cancer, heart attack, etc.

• The policy should have a sufficient sum assured to cover the family's expenses and future needs.

• The premium should be affordable and the policy should have flexible payment options.

• The policyh...read more

It is not possible to accurately calculate the number of auto-rickshaws in a city without proper data.

• The number of auto-rickshaws in a city can vary greatly depending on factors such as population, demand, and regulations.

• Data on the number of registered auto-rickshaws can be obtained from the local transport authority.

• However, this may not account for unregistered or illegal auto-rickshaws.

• Estimates can be made based on the number of auto-rickshaw stands or the frequency of...read more

Answers to questions related to energy types, Ohm's law, and engine strokes.

• Different types of energies include kinetic, potential, thermal, electrical, and chemical.

• Ohm's law states that the current through a conductor between two points is directly proportional to the voltage across the two points.

• 2-stroke engines have a power stroke every revolution, while 4-stroke engines have a power stroke every other revolution.

Find the speed of a train if it passes a pole in 6 seconds and is 142m long.

• Use the formula: speed = distance/time

• Convert meters to kilometers if necessary

• Calculate the speed in km/h or m/s

Depreciation is the allocation of the cost of an asset over its useful life. GST is a consumption tax that is reflected in the final accounts.

• Depreciation is a non-cash expense that reduces the value of fixed assets over time.

• Depreciation is shown in the income statement as an expense and in the balance sheet as accumulated depreciation.

• GST (Goods and Services Tax) is a consumption tax levied on the supply of goods and services.

• GST is reflected in the final accounts as a liab...read more

Accounts receivable is the money owed to a company by its customers for goods or services sold on credit.

• Accounts receivable is an asset on the balance sheet.

• Cash basis accounting recognizes revenue when cash is received, while accrual basis accounting recognizes revenue when it is earned.

• Companies typically use accrual basis accounting for financial reporting purposes.

• Accounts receivable can be managed through aging reports and collection efforts.

• Example: A company sells $10...read more

To find the value of c, we need to solve for a and b first.

• Let's start by setting up two equations: 8 = 0.04a and 4 = 0.08b

• Solving for a and b, we get a = 200 and b = 50

• Finally, we can calculate c by dividing b by a, which gives us c = 0.25

Macro is a set of instructions that automate repetitive tasks in MS Word.

• Macros can be recorded or written in Visual Basic for Applications (VBA)

• They can be assigned to a button or keyboard shortcut for easy access

• Examples of tasks that can be automated with macros include formatting, inserting text, and running spell check

• Macros can save time and increase productivity for users who frequently perform the same tasks in Word

Use JavaScript to switch on and off a bulb with one button.

• Create a variable to store the state of the bulb (on/off)

• Add an event listener to the button

• Toggle the state of the bulb variable on each button click

• Update the bulb image or class based on the state of the bulb variable

Debentures are long-term debt instruments issued by companies to raise funds from the public. Risk analysis involves evaluating potential risks associated with an investment. When advising a person on financial matters, factors like age, assets, risk tolerance, and financial goals must be considered.

• Debentures are a form of corporate bonds that pay fixed interest rates to investors.

• Risk analysis involves assessing the likelihood of potential risks and their impact on investme...read more

To create a table using HTML, color one row, and merge specific columns, use <table>, <tr>, <td>, and <th> tags with CSS styling.

• Create a table using <table>, <tr>, <td>, and <th> tags

• Color one row using CSS by targeting the <tr> element with a specific class or inline style

• Merge specific columns using the colspan attribute in the <td> or <th> tags

Join in SQL is used to combine data from two or more tables based on a related column between them.

• Types of joins: Inner join, Left join, Right join, Full outer join, Cross join

• Syntax: SELECT * FROM table1 JOIN table2 ON table1.column = table2.column

• Example: SELECT * FROM customers JOIN orders ON customers.customer_id = orders.customer_id

Accrual basis is a method of accounting where revenue and expenses are recognized when earned or incurred, regardless of when payment is received or made. Purchase entry and vendor entry are related to recording transactions in this method.

• Accrual basis recognizes revenue and expenses when earned or incurred, not when payment is received or made

• Purchase entry is the recording of a purchase transaction, including the amount, date, and vendor information

• Vendor entry is the reco...read more

I will remain calm, assess the situation, and take appropriate actions.

• Stay calm and composed

• Assess the situation and identify the critical factors

• Take appropriate actions based on the situation

• Seek help from senior colleagues if necessary

• Communicate effectively with all stakeholders

The mandatory elements to create the PNR in GDS are passenger name, flight details, and contact information.

• PNR stands for Passenger Name Record

• Passenger name, flight details, and contact information are mandatory elements to create a PNR in GDS

• Flight details include airline code, flight number, departure and arrival cities, and dates

• Contact information includes phone number and email address

• PNR is a unique identifier for a passenger's itinerary

• PNR is used to store and retrie...read more

Aircrafts work on the principle of aerodynamics. There are various types of aircrafts such as fixed-wing, rotary-wing, and lighter-than-air.

• Aircrafts work on the principle of aerodynamics

• Fixed-wing aircrafts generate lift by the shape of their wings

• Rotary-wing aircrafts generate lift by the rotation of their blades

• Lighter-than-air aircrafts use buoyancy to stay aloft

• Other types of aircrafts include gliders, balloons, and drones

Distillation is a process of separating components of a liquid mixture based on differences in boiling points.

• Distillation involves heating a liquid to create vapor, then cooling the vapor to condense it back into liquid form.

• The components with lower boiling points will vaporize first and be collected, leaving behind components with higher boiling points.

• Examples of distillation include the separation of alcohol from water in the production of spirits, and the purification o...read more

Terms and conditions refer to the rules and regulations that govern a particular agreement or contract.

• Terms and conditions outline the rights and responsibilities of both parties involved in the agreement.

• They may include clauses related to payment, delivery, warranties, and liability.

• It is important to read and understand the terms and conditions before agreeing to any contract.

• Failure to comply with the terms and conditions may result in legal consequences.

• Examples of term...read more

Endowment policy provides both insurance and savings, while term insurance only provides insurance coverage.

• Endowment policy pays out a lump sum at the end of the policy term, while term insurance pays out only in case of death during the policy term.

• Endowment policy premiums are higher than term insurance premiums due to the savings component.

• Endowment policy is suitable for those who want both insurance and savings, while term insurance is suitable for those who only want i...read more

Depreciation is the allocation of the cost of an asset over its useful life in the books of accounts.

• Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.

• It is treated as an operating expense on the income statement, reducing the company's net income.

• Depreciation is recorded on the balance sheet to reduce the carrying amount of the asset.

• There are different methods of calculating depreciation such as straight-line, double declining bala...read more

An accruals journal is used in accounting to record expenses and revenues that have been incurred but not yet paid or received.

• Accruals journal entries are used to match expenses with revenues in the same accounting period, even if the cash transaction has not occurred yet.

• Accruals help provide a more accurate representation of a company's financial position by recognizing expenses and revenues when they are incurred, not when cash changes hands.

• For example, if a company rece...read more

I will listen to the customer's query attentively, empathize with their situation, provide a clear and concise explanation or solution, and follow up to ensure their satisfaction.

• Listen actively to the customer's query

• Empathize with the customer's situation

• Provide a clear and concise explanation or solution

• Follow up to ensure customer satisfaction

I would troubleshoot the issue by checking the modem, router, and device settings.

• Check if other devices are able to connect to the internet

• Restart the modem and router

• Check the network settings on the device

• Contact the internet service provider for assistance if needed

Yes, I am interested in writing the service agreement for 3 years.

• I have experience in drafting legal documents.

• I am detail-oriented and can ensure all necessary terms and conditions are included.

• I understand the importance of clarity and precision in service agreements.

• I am willing to collaborate with relevant stakeholders to gather all required information.

• I can provide examples of service agreements I have previously written.

In India, grandchildren do not have an automatic right in their grandparents' property.

• In India, the Hindu Succession Act governs the inheritance of property.

• Under the Act, grandchildren do not have an automatic right in their grandparents' property.

• However, they can inherit the property if their parent (the grandparent's child) has died.

• The property can also be gifted or bequeathed to the grandchildren by the grandparents.

• The rules may vary for different religions and commun...read more

Normal blood pressure is typically around 120/80 mmHg. Normal fasting blood sugar level is between 70-100 mg/dL.

• Normal blood pressure is considered to be around 120/80 mmHg

• Normal fasting blood sugar level is between 70-100 mg/dL

• Blood pressure can vary throughout the day and can be influenced by factors such as stress, activity level, and diet

• Blood sugar levels can also be affected by factors such as diet, exercise, and medication

It is estimated that around 20% of cars in Delhi are red, so approximately 1 out of every 5 cars is red.

• Consider the total number of cars in Delhi

• Estimate the percentage of cars that are red

• Calculate the number of red cars based on the percentage

Capital market is where individuals and institutions trade financial securities.

• Capital market is a place where companies and governments can raise long-term funds by issuing stocks and bonds.

• Investors can buy and sell these securities through stock exchanges like NYSE or NASDAQ.

• The prices of securities in the capital market are determined by supply and demand.

• Capital market plays a crucial role in the economy by facilitating the flow of funds from savers to borrowers.

Use two pointers, one moving twice as fast as the other, to find the middle of a linked list.

• Initialize two pointers, slow and fast, at the head of the linked list

• Move slow pointer by one node and fast pointer by two nodes until fast pointer reaches the end

• The node pointed to by slow pointer will be the middle of the linked list

Hydraulic power is used to generate electricity by harnessing the energy of falling water.

• Water is stored in a reservoir and released through a dam to turn a turbine.

• The turbine is connected to a generator which converts the mechanical energy into electrical energy.

• The electricity is then transmitted through power lines to homes and businesses.

• Hydroelectric power is a renewable energy source that produces no greenhouse gas emissions.

• Examples of hydraulic power plants include ...read more

Administrative law is the body of law that governs the activities of administrative agencies of the government.

• It deals with the powers and duties of administrative agencies

• It regulates the relationship between the government and its citizens

• It includes rulemaking, adjudication, and enforcement

• Examples include environmental regulations, immigration policies, and social security benefits

• It is based on the principle of due process and fairness

• It is an important part of public l...read more

Journal entry for investment in businesses with $20,000 cash and $80,000 bank loan.

• Debit the investment account for $100,000 ($20,000 cash + $80,000 bank loan)

• Credit the cash account for $20,000

• Credit the bank loan account for $80,000

Accrual journal entry records revenue or expenses before cash is exchanged, while deferred revenue journal entry records cash received before revenue is earned.

• Accrual journal entry: Debit accounts receivable/accrued revenue, credit revenue

• Deferred revenue journal entry: Debit cash, credit deferred revenue/liability

• Accrual example: Debit Accounts Receivable $1,000, credit Service Revenue $1,000

• Deferred revenue example: Debit Cash $500, credit Deferred Revenue $500

My salary expectations are based on my qualifications, experience, and the industry standards.

• Consider my qualifications and experience when determining salary

• Take into account the industry standards for Junior Associates

• Open to negotiation based on the overall compensation package

Yes, I am confident in my ability to manage a hectic and chaotic workload in dispatch and storage.

• I have experience in managing multiple tasks simultaneously

• I am skilled in prioritizing tasks based on urgency and importance

• I am adaptable and can handle unexpected situations

• I am comfortable working under pressure and meeting deadlines

• For example, in my previous job, I was responsible for managing inventory and coordinating with suppliers, which required me to handle a high vol...read more

Accounts receivables are amounts owed to a company by customers for goods or services provided, while accounts payable are amounts owed by a company to suppliers for goods or services received.

• Accounts receivables represent money owed to a company by customers, typically shown as an asset on the balance sheet.

• Accounts payable represent money owed by a company to suppliers or vendors, typically shown as a liability on the balance sheet.

• Accounts receivables are usually collecte...read more

Accrual income and accrual expense are recognized when they are incurred, regardless of when cash is exchanged.

• Accrual income is income that has been earned but not yet received, while accrual expense is an expense that has been incurred but not yet paid.

• Accrual income and expense are recorded in the financial statements in the period in which they are earned or incurred, regardless of when the cash is actually received or paid.

• Accrual accounting matches revenues with expense...read more

ISB offers a unique blend of global exposure and Indian business context, complementing my education at LSE.

• ISB's curriculum focuses on practical application of business concepts in the Indian context, which will be valuable for my career goals.

• ISB's diverse student body and faculty will provide me with a global perspective and networking opportunities.

• ISB's reputation as a top business school in India will enhance my credentials and career prospects in the region.

• LSE's stron...read more

I am fluent in Spanish and have basic knowledge of French and German.

• Fluent in Spanish

• Basic knowledge of French

• Basic knowledge of German

Adaptability

• Ability to quickly adjust to new situations

• Flexibility in handling changing priorities

• Openness to learning and acquiring new skills

• Capacity to work effectively in diverse teams

• Example: Successfully adapting to a new software system at a previous job

Rent agreements are usually short-term, while lease agreements are long-term contracts.

• Rent agreements are typically month-to-month or for a fixed term, while lease agreements are usually for a longer period, such as one year or more.

• Rent agreements are more flexible and can be easily terminated with notice, while lease agreements are more binding and may have penalties for early termination.

• Rent agreements are common for residential properties, while lease agreements are com...read more