80+ Lead Business Analyst Interview Questions and Answers

Counterparty Credit Risk is the risk of loss due to a counterparty defaulting on a financial contract. CVA is the cost of this risk.

• Counterparty Credit Risk is the risk that a party in a financial contract will default on their obligations.

• CVA (Credit Valuation Adjustment) is the cost of this risk and is calculated as the difference between the risk-free portfolio value and the value of the portfolio with counterparty credit risk.

• CVA takes into account the probability of defa...read more

As a business analyst, I will prioritize the remaining tasks and work with the scrum team to find a solution.

• Assess the impact of the missed task on the overall sprint goal

• Prioritize the remaining tasks based on their importance to the sprint goal

• Collaborate with the scrum team to find a solution, such as extending the sprint or removing less critical tasks

• Communicate the impact of the missed task to stakeholders and adjust expectations accordingly

BA delivers various documents in a data migration project.

• Requirements document

• Data mapping document

• Data quality report

• Test cases and test results

• User acceptance testing (UAT) plan

• Training materials

• Data migration plan

Address the concerns of the old school stakeholder by understanding their perspective, communicating effectively, and finding common ground.

• Listen to the stakeholder's concerns and try to understand their perspective.

• Communicate the benefits of the new requirement in a way that resonates with the stakeholder's values and priorities.

• Find common ground by highlighting areas where the new requirement aligns with the stakeholder's goals or objectives.

• Involve the stakeholder in th...read more

The angle between the minute and hour hands of a clock at 2:20 is 50 degrees.

• Calculate the angle formed by the hour hand from 12 o'clock to the current time (2:20)

• Calculate the angle formed by the minute hand from 12 o'clock to the current time (20 minutes past the hour)

• Subtract the smaller angle from the larger angle to get the angle between the minute and hour hands

A user story is a small, specific requirement while an epic is a larger, more general requirement.

• User stories are typically written from the perspective of the end user and describe a specific action or feature they need.

• Epics are larger requirements that may encompass multiple user stories and often require more time and resources to complete.

• User stories are often used in agile development to break down larger requirements into smaller, more manageable pieces.

• Epics can be ...read more

Requirements were gathered through collaboration between the Product Owner and Business Analyst in the team.

• Requirements were gathered through stakeholder interviews, workshops, and document analysis.

• The Product Owner and Business Analyst worked closely together to ensure all requirements were captured accurately.

• The Business Analyst facilitated the requirements gathering process and documented the findings for review and validation.

• Regular meetings were held with stakeholder...read more

Assessing completeness of user stories using INVEST criteria.

• INVEST stands for Independent, Negotiable, Valuable, Estimable, Small, and Testable.

• A user story is complete if it meets all the criteria of INVEST.

• Independence: User story should be self-contained and not dependent on other stories.

• Negotiable: Details of the story can be negotiated between the team and stakeholders.

• Valuable: Story should deliver value to the end user or customer.

• Estimable: Team should be able to es...read more

Counterparty Credit Risk can be reduced or mitigated through various methods.

• Performing credit checks on counterparties

• Establishing credit limits for counterparties

• Collateralizing transactions

• Using netting agreements

• Diversifying counterparties

• Monitoring credit exposure regularly

I orient myself with the cardinal directions and locate my starting point.

• Identify North, South, East, and West on the map

• Locate my current position or starting point

• Determine the direction and distance to my destination

Requirement gathering is the process of collecting and documenting requirements from stakeholders, while requirement elicitation is the process of discovering and extracting requirements from stakeholders.

• Requirement gathering involves documenting known requirements, while requirement elicitation involves uncovering hidden or unspoken requirements.

• Requirement gathering typically involves interviews, surveys, and document analysis, while requirement elicitation may involve tec...read more

By implementing industry best practices, fostering collaboration, and promoting innovation.

• Identify and implement industry best practices to improve efficiency and quality.

• Collaborate with stakeholders to identify and address industry challenges.

• Promote innovation by encouraging experimentation and risk-taking.

• Establish a culture of continuous improvement through training and development.

• Engage with industry associations and thought leaders to stay up-to-date on trends and em...read more

Scrum ceremonies include Sprint Planning, Daily Stand-up, Sprint Review, and Sprint Retrospective.

• Sprint Planning - planning the work to be done in the upcoming sprint

• Daily Stand-up - a daily meeting to discuss progress and plan for the day

• Sprint Review - a meeting to review the work completed in the sprint

• Sprint Retrospective - a meeting to reflect on the sprint and identify areas for improvement

VaR can be calculated using historical simulation, parametric method, and Monte Carlo simulation.

• Historical simulation uses past data to estimate potential losses.

• Parametric method assumes a normal distribution of returns and calculates VaR based on mean and standard deviation.

• Monte Carlo simulation uses random sampling to simulate potential outcomes and estimate VaR.

• Other methods include delta-normal method and extreme value theory.

• The choice of method depends on the nature ...read more

Components required for writing a user story

• User persona

• User goal

• Acceptance criteria

• Priority

• Estimate

• Description

Effective problem-solving involves identifying issues, analyzing data, and implementing solutions in a structured manner.

• Identify the problem: For example, a drop in customer satisfaction scores led to a root cause analysis.

• Gather data: Conduct surveys and interviews to understand customer pain points.

• Analyze the data: Use statistical tools to identify trends and patterns in customer feedback.

• Develop solutions: Collaborate with cross-functional teams to brainstorm and priorit...read more

Attributes that should flow from policy to claims system

• Accurate policy information

• Clear coverage details

• Validated policy limits

• Proper claim adjudication

• Timely claim processing

• Effective communication with policyholders

To measure 4 liters from 5 and 3 liter vessels, fill 3 liter vessel, pour into 5 liter vessel, refill 3 liter vessel, pour into 5 liter vessel until it is full.

• Fill the 3 liter vessel completely

• Pour the water from the 3 liter vessel into the 5 liter vessel

• Refill the 3 liter vessel

• Pour the water from the 3 liter vessel into the 5 liter vessel until it is full

Best practices for capturing accurate requirements

• Engage stakeholders to understand their needs

• Use clear and concise language to avoid ambiguity

• Document requirements in a structured format

• Validate requirements with stakeholders

• Prioritize requirements based on business value

Basel 4 is a set of banking regulations that aim to strengthen the resilience of the banking sector.

• Basel 4 introduces new capital requirements for banks

• It includes a new standardized approach for credit risk

• It also introduces a new output floor to limit the variability of risk-weighted assets

• Basel 4 aims to improve the comparability and transparency of banks' risk-weighted assets

• It also includes new requirements for market risk and operational risk

• Basel 4 is expected to be i...read more

Expected Loss formulae calculates the potential loss from credit risk.

• Expected Loss = Probability of Default x Exposure at Default x Loss Given Default

• Probability of Default is the likelihood of a borrower defaulting on a loan

• Exposure at Default is the amount of money owed by the borrower at the time of default

• Loss Given Default is the percentage of the Exposure at Default that is not recoverable

• Expected Loss is used to estimate the potential loss from credit risk

• It helps ban...read more

I recommend a feature to schedule messages in WhatsApp.

• Users can schedule messages to be sent at a later time

• This can be useful for sending birthday wishes or reminders

• Users can also edit or cancel scheduled messages before they are sent

Yes, I have experience working in both Waterfall and Scrum models.

• I have experience working in Waterfall model, where requirements are gathered upfront and the project progresses in a linear fashion.

• I have also worked in Scrum model, where the project is divided into sprints and iterative development is done.

• In Waterfall model, I have worked on projects with well-defined scope and fixed timelines.

• In Scrum model, I have experience in daily stand-up meetings, sprint planning, a...read more

Business Analysis involves identifying business needs and finding solutions to business problems.

• Business Analysis involves understanding the structure, policies, and operations of an organization.

• It includes analyzing processes, systems, and workflows to identify areas for improvement.

• Business Analysts gather and document requirements, create business cases, and facilitate communication between stakeholders.

• They use tools such as SWOT analysis, PESTLE analysis, and data mode...read more

Cost analysis involves identifying, evaluating, and comparing the costs of a project or business process.

• Identify all costs associated with the project or process

• Evaluate the costs to determine their impact on the overall budget

• Compare the costs to similar projects or industry standards

• Use tools such as cost-benefit analysis or cost-effectiveness analysis

• Consider both direct costs (e.g. materials, labor) and indirect costs (e.g. overhead, administrative)

• Factor in any potentia...read more

The 3Cs of a user story are Card, Conversation, and Confirmation.

• Card: A user story is typically written on a physical or digital card to capture the essence of the requirement.

• Conversation: The user story should spark a conversation between the stakeholders to gather more details and clarify any doubts.

• Confirmation: The user story should have acceptance criteria that define when the story is considered complete.

Basel 4 is an updated version of Basel 3 with stricter regulations and additional requirements.

• Basel 4 includes new requirements for market risk, credit risk, and operational risk.

• Basel 4 introduces a new standardized approach for measuring counterparty credit risk.

• Basel 4 requires banks to hold more capital against their exposures.

• Basel 4 also includes new disclosure requirements for banks.

• Basel 4 is expected to be implemented gradually over the next few years.