1000+ Senior Associate Interview Questions and Answers

I can process around 50-60 invoices per day depending on the complexity.

• The number of invoices processed can vary based on the complexity of the invoices.

• I have experience in using various invoice processing software which helps in increasing the efficiency.

• I prioritize the invoices based on their due dates and ensure timely processing.

Supply chain consulting involves optimizing and improving the flow of goods and services from suppliers to customers.

• Supply chain consulting focuses on analyzing and improving the efficiency of the supply chain process.

• It involves identifying bottlenecks, reducing costs, and enhancing customer satisfaction.

• Consultants may suggest strategies for inventory management, transportation, and distribution.

• They may also recommend technology solutions to streamline operations.

• For exam...read more

Questions related to Outlook, Windows OS, and Office 365.

• OST and PST are file formats used by Outlook to store data.

• Distribution list is a group of email addresses used for sending emails to multiple recipients.

• Mailbox is a storage location for emails and other data in Outlook.

• To create a new data file in Outlook, go to File > New > Outlook Data File.

• BSOD issue in Windows OS can be fixed by updating drivers or running system diagnostics.

• BIOS is a firmware that initializes har...read more

The KPI in our organization is customer satisfaction.

• Customer satisfaction is measured through surveys and feedback.

• We track the percentage of satisfied customers on a monthly basis.

• We also monitor the number of customer complaints and aim to reduce them.

• Improving customer satisfaction is a key focus for our team.

Answering questions related to COBOL, SORT utility, and file usage.

• 1) Redefines are used in COBOL to allow multiple data items to occupy the same storage space.

• 2) The order of processing in a SORT statement is: Copy, Include, Omit, Sort.

• 3) Looping in COBOL can be achieved using PERFORM or EVALUATE statements.

• 4) The structure of COBOL consists of divisions, sections, paragraphs, and sentences.

• 5) SORT DD Statements in SORT utility define the input and output files for sorting, ...read more

Materiality is the concept of determining the significance or importance of information in financial reporting.

• Materiality refers to the threshold at which information becomes relevant to users of financial statements.

• It is a subjective judgment based on the nature and size of the item or error being evaluated.

• Materiality is determined by considering both quantitative and qualitative factors.

• Quantitative factors include the monetary amount, while qualitative factors include t...read more

Questions related to accounting principles and responsibilities for Senior Associate position.

• Golden rule is to treat others as you would like to be treated.

• Deferred revenue is revenue received in advance but not yet earned. Journal entry is to credit revenue and debit deferred revenue account.

• Depreciation is the decrease in value of an asset over time. Entry is to debit depreciation expense and credit accumulated depreciation account.

• Prepaid expenses are expenses paid in adv...read more

The TAT for processing an invoice varies depending on the complexity of the invoice and the company's internal processes.

• The TAT can range from a few days to several weeks.

• Factors that can affect the TAT include the accuracy of the invoice, the approval process, and the payment terms.

• Automating the invoice processing system can help reduce the TAT and improve efficiency.

• Regularly reviewing and optimizing the invoice processing system can also help reduce the TAT.

• It is importa...read more

A set of questions related to finance and insurance.

• Credit is an increase in assets or decrease in liabilities, while debit is the opposite.

• Bank reconciliation is the process of matching the bank statement with the company's records.

• Assets are resources owned by a company, while liabilities are obligations owed by a company.

• A revised letter of credit is an amendment to the original letter of credit.

• Collateral loan is a loan secured by an asset, such as a house or a car.

• Capita...read more

Questions related to finance and banking including golden rules of account, derivatives, investment banking, hedge fund management, anti-money laundering, and transfer agency.

• Golden rules of account are basic principles of accounting that help in maintaining accurate financial records.

• Derivatives are financial instruments that derive their value from an underlying asset or security. Types include futures, options, swaps, and forwards.

• Investment banking involves providing fina...read more

Explanation of different types of constraints and primary key vs foreign key

• Constraints are rules applied to columns to maintain data integrity

• Types of constraints include NOT NULL, UNIQUE, PRIMARY KEY, FOREIGN KEY, CHECK, and DEFAULT

• Primary key is a unique identifier for a row in a table, while foreign key is a reference to a primary key in another table

• Primary key cannot have null values, while foreign key can have null values

• Primary key is used to enforce entity integrity,...read more

Address underperformance of team mate by identifying root cause and providing support.

• Have a conversation with the team mate to understand the root cause of underperformance

• Provide support and resources to help the team mate improve

• Set clear expectations and goals for the team mate

• Monitor progress and provide feedback regularly

• Consider involving a supervisor or HR if the issue persists

Concurrency is the ability of a program to execute multiple tasks simultaneously.

• Achieved through multi-threading or asynchronous programming

• Requires careful management of shared resources to avoid race conditions

• Examples include implementing a chat application or processing multiple requests simultaneously

Mapping parameter is used to pass values to a mapping at run time, while mapping variable is used to store values within a mapping.

• Mapping parameter is defined in the mapping configuration and can be changed at run time.

• Mapping variable is defined within the mapping and can be used to store values temporarily.

• Mapping parameter is used to pass values from one mapping to another.

• Mapping variable is used to store values within a mapping for use in subsequent transformations.

TNA stands for Total Net Assets and NAV stands for Net Asset Value. TNA is the total value of assets held by a company or fund, while NAV is the value of each share in the fund.

• TNA is calculated by adding up the value of all assets held by a company or fund, including cash, investments, and property.

• NAV is calculated by dividing the total value of the fund's assets by the number of shares outstanding.

• TNA and NAV are important metrics for investors to evaluate the performance ...read more

Answers to questions related to Informatica performance tuning, transformations, mapping, and session log.

• To improve performance tuning in Informatica, we can use techniques like partitioning, pushdown optimization, and caching.

• Joiner Transformation is used to join two heterogeneous sources based on a common key, while Router Transformation is used to route data based on specified conditions.

• A mapping is a set of source and target definitions, transformations, and rules that ...read more

Golden rules of accounting are basic principles to be followed while recording financial transactions. Accrual journal entries record revenue or expenses when they are earned or incurred, regardless of when payment is received or made.

• The three golden rules of accounting are: debit the receiver, credit the giver; debit what comes in, credit what goes out; and debit all expenses and losses, credit all incomes and gains.

• Accrual journal entries record revenue or expenses when th...read more

Capital market is a financial market where long-term securities like stocks and bonds are bought and sold. Derivatives are financial instruments derived from an underlying asset.

• Capital market is a market for long-term securities like stocks and bonds

• It facilitates the buying and selling of financial instruments with long maturities

• Derivatives are financial instruments derived from an underlying asset

• They derive their value from an underlying asset like stocks, bonds, commodi...read more

Depreciation is necessary to allocate the cost of an asset over its useful life.

• Depreciation helps in matching the cost of an asset with the revenue it generates.

• It allows for the recognition of the wear and tear, obsolescence, and loss of value of assets over time.

• Depreciation expense reduces taxable income, resulting in tax savings for companies.

• It helps in determining the true profitability and financial position of a company.

• Depreciation is required by accounting standard...read more

Criteria for AML and KYC checks

• Verification of customer identity and background

• Assessment of customer risk profile

• Monitoring of customer transactions and behavior

• Compliance with regulatory requirements

• Identification and reporting of suspicious activity

• Ongoing due diligence

• Use of technology and data analytics

• Training and awareness of AML/KYC policies and procedures

To open a bank account for an NRI, I would check their passport, visa, and proof of foreign address.

• Verify their passport to confirm their NRI status

• Check their visa to ensure they are legally allowed to open a bank account

• Ask for proof of foreign address, such as a utility bill or rental agreement

• Confirm if they have an NRE or NRO account

• Explain the difference between the two types of accounts and help them choose the right one

Counter holes can be made using a counterbore cutter or a countersink cutter depending on the application.

• Counterbore cutters are used to create a flat-bottomed hole with a larger diameter than the original hole.

• Countersink cutters are used to create a conical recess at the surface of the material.

• The choice of cutter depends on the size and depth of the hole required, as well as the material being worked on.

• It is important to use the correct speed and feed rate for the cutte...read more

High water mark, corporate actions, journal entries, forwards, options, and in the money options are all important concepts in hedge funds.

• High water mark refers to the highest peak in a hedge fund's net asset value (NAV) history.

• Corporate actions such as splits and spin-offs can affect the value of a hedge fund's holdings.

• Journal entries are used to record transactions in a hedge fund's accounting system.

• Forwards are contracts that allow investors to buy or sell an asset at ...read more

View is a virtual table while materialized view is a physical table. Views cannot be updated directly.

• View is a logical representation of data while materialized view is a physical copy of data.

• Materialized views are stored on disk while views are not.

• Views cannot be updated directly but can be updated indirectly by updating the underlying tables.

• Materialized views can be updated but the refresh process can be time-consuming.

The team strength for the teams I facilitated Scrum ranged from 5 to 10 members.

• Team sizes varied based on the project requirements and complexity

• Smaller teams of 5 members were more efficient for quick decision-making

• Larger teams of 10 members were beneficial for complex projects requiring diverse skill sets

I will investigate the transaction and report it to the appropriate authorities if necessary.

• I will review the transaction details and gather any additional information that may be relevant.

• If necessary, I will consult with colleagues or superiors to determine the appropriate course of action.

• If the transaction appears to be illegal or unethical, I will report it to the appropriate authorities, such as law enforcement or regulatory agencies.

• I will maintain confidentiality and...read more

The restaurant manager is responsible for overseeing all aspects of the restaurant's operations and ensuring its smooth functioning.

• Managing and supervising staff members

• Creating work schedules and assigning tasks

• Ensuring high-quality customer service

• Monitoring inventory and ordering supplies

• Maintaining cleanliness and safety standards

• Developing and implementing marketing strategies

• Handling customer complaints and resolving issues

• Managing budgets and financial records

• Ensuring...read more

The Python code to get the output string as 'jareen arpohc' from the input string 'neeraj chopra' is provided.

• Split the input string into individual words

• Reverse each word

• Join the reversed words with a space in between

Data analysis is the process of inspecting, cleaning, transforming, and modeling data while data analytics involves using statistical and computational methods to extract insights from data.

• Data analysis is focused on preparing and organizing data for analysis

• Data analytics involves using tools and techniques to extract insights from data

• Data analysis is a subset of data analytics

• Data analytics involves more complex and advanced techniques than data analysis

• Data analysis is m...read more

Source level commit is done at the source code level while target level commit is done at the target code level.

• Source level commit is done when changes are made to the source code and committed to the source code repository.

• Target level commit is done when changes are made to the target code and committed to the target code repository.

• Source level commit is done before the code is compiled while target level commit is done after the code is compiled.

• Source level commit is mo...read more

Investments in bank balancesheet are valued using fair value or mark-to-market (MTM) method.

• Fair value method involves valuing the investment at the current market price.

• MTM method involves valuing the investment at the current market price and adjusting it to reflect any changes in value.

• The choice of method depends on the type of investment and the accounting standards followed by the bank.

• For example, if the investment is a bond, fair value method may be used, while for a ...read more

Mark to Market is a valuation method, Off the Balancesheet items are assets/liabilities not on the balance sheet, General Ledger is a record of all financial transactions.

• Mark to Market is used to value assets based on current market prices

• Off the Balancesheet items are assets/liabilities not recorded on the balance sheet but can have an impact on financial statements

• General Ledger is a record of all financial transactions and is used to prepare financial statements

P2P and O2C are two different processes in accounting. P2P stands for Procure-to-Pay and O2C stands for Order-to-Cash.

• P2P involves the process of purchasing goods or services from a vendor, receiving the goods or services, and then paying the vendor for the goods or services.

• O2C involves the process of receiving an order from a customer, fulfilling the order, and then receiving payment from the customer.

• Both processes are important for internal audit as they involve financial...read more

Cash reconciliation is the process of comparing and matching the cash transactions recorded in an organization's books with the actual cash balance.

• Cash reconciliation ensures that the recorded cash transactions are accurate and complete.

• It involves comparing the cash transactions recorded in the general ledger with the bank statements or other sources of cash information.

• Any discrepancies between the recorded cash balance and the actual cash balance are identified and invest...read more

I will add value by leveraging my extensive experience, strong analytical skills, and ability to drive results.

• Extensive experience in the industry, allowing me to bring valuable insights and knowledge to the team.

• Strong analytical skills to identify opportunities, solve complex problems, and make data-driven decisions.

• Proven track record of driving results and achieving targets, ensuring success for the organization.

• Excellent communication and leadership skills to collaborat...read more

Technical interview questions on Java and Springboot

• To override a constructor, create a new constructor with the same name and parameters in the subclass

• Hashcode and equals are methods used for comparing objects in Java. Hashcode returns an integer value while equals returns a boolean value

• Comparator is used to sort objects based on custom criteria. It is used when the natural ordering of objects is not suitable

• Consumer and producer problem can be solved using a blocking queu...read more

A test plan should consider test objectives, scope, test environment, test cases, and test data.

• Define clear test objectives and scope

• Identify the test environment and required resources

• Develop comprehensive test cases

• Ensure availability of appropriate test data

• Consider risk-based testing approach

• Include test schedules and timelines

• Define roles and responsibilities of testing team

• Include test exit criteria

AML and KYC are regulatory compliance measures to prevent money laundering and terrorist financing.

• AML stands for Anti-Money Laundering and KYC stands for Know Your Customer.

• AML and KYC are required by financial institutions to prevent money laundering, terrorist financing, and other financial crimes.

• AML and KYC regulations require financial institutions to verify the identity of their customers, monitor their transactions, and report any suspicious activity to the authoritie...read more

Optimizing bids and budgets involves analyzing data, setting goals, and adjusting strategies accordingly.

• Analyze campaign data to identify top-performing keywords and adjust bids accordingly

• Set clear goals for each campaign and allocate budgets accordingly

• Regularly monitor and adjust bids and budgets based on performance data

• Consider using automated bidding strategies to save time and improve efficiency

• Use A/B testing to compare different bidding strategies and optimize for b...read more

Explaining differences between list and tuple, Python data types, Fibonacci series, List Comprehension, DataFrames, Joins, UNION and UNION ALL.

• List is mutable while tuple is immutable

• List uses square brackets while tuple uses parentheses

• Fibonacci series is a sequence of numbers where each number is the sum of the two preceding ones

• List comprehension is a concise way to create lists based on existing lists

• DataFrames are two-dimensional size-mutable, tabular data structures wit...read more

Depreciation methods and asset life are important factors in financial accounting.

• Depreciation methods include straight-line, double-declining balance, and units of production.

• Asset life varies by category, such as buildings, vehicles, and equipment.

• The useful life of a building may be 40 years, while a vehicle may have a useful life of 5 years.

• Depreciation is important for accurately reporting the value of assets on financial statements.

Wipro can survive in the heavy market economy of IT industrial technology by focusing on innovation, agility, and customer-centric approach.

• Investing in research and development to stay ahead of the competition

• Embracing agile methodologies to quickly adapt to changing market demands

• Fostering a culture of innovation and creativity to drive new ideas and solutions

• Providing exceptional customer service to build long-term relationships and loyalty

• Expanding into new markets and in...read more

Audit procedures for revenue working paper

• Obtain and review revenue recognition policies

• Test the accuracy of revenue recorded in the financial statements

• Verify the completeness of revenue recorded

• Check for proper cutoff of revenue transactions

• Perform analytical procedures to identify unusual trends or fluctuations

• Review supporting documentation for revenue transactions

• Assess the adequacy of internal controls over revenue recognition

Yes, design patterns are reusable solutions to common software problems.

• Creational patterns: Singleton, Factory, Abstract Factory

• Structural patterns: Adapter, Decorator, Facade

• Behavioral patterns: Observer, Strategy, Command

• Use cases: improving code quality, reducing development time, promoting code reuse

• Example: Singleton pattern ensures only one instance of a class is created and provides a global point of access to it

The router will load the target that has the highest priority.

• Router group conditions are evaluated in order of priority.

• The target with the highest priority that satisfies both conditions will be loaded.

• Priority can be set using numerical values or by order of appearance in the configuration file.

To create department wise files in Informatica, use the Group By transformation and specify the department column as the grouping key.

• Use a Source Qualifier transformation to read the input data

• Add a Group By transformation and specify the department column as the grouping key

• Connect the Group By transformation to multiple Target instances, each representing a department

• Use a Router transformation to route the data to the appropriate Target instance based on the department co...read more

The temperature for serving ice cream is typically between -5°C to -10°C.

• The ideal temperature for serving ice cream is around -8°C.

• Serving ice cream at too high a temperature can cause it to melt too quickly.

• Serving ice cream at too low a temperature can make it too hard to scoop.

• Soft serve ice cream is typically served at a slightly higher temperature than regular ice cream.

• Different types of ice cream may have different ideal serving temperatures.