90+ Senior Associate Interview Questions and Answers for Freshers

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

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

I used data analysis tools to identify trends, patterns, and correlations to inform strategic business decisions.

• Utilized data visualization tools to present key findings to stakeholders

• Conducted regression analysis to predict future outcomes based on historical data

• Collaborated with cross-functional teams to gather and analyze data from multiple sources

I utilized data management and analytics to track project progress, identify trends, and make data-driven decisions.

• Implemented data management systems to organize and store project data efficiently

• Utilized analytics tools to analyze project performance and identify areas for improvement

• Generated reports and dashboards to track key metrics and communicate findings to stakeholders

• Used data insights to make informed decisions and drive project success

The ETL tool used for Data wrangling is Apache Spark. I have a high proficiency in using Apache Spark for ETL processes.

• Apache Spark is a powerful open-source distributed computing system that can handle large-scale data processing and analytics.

• It provides a unified engine for big data processing with built-in modules for SQL, streaming, machine learning, and graph processing.

• I have experience in using Apache Spark for data wrangling tasks such as data cleaning, transformati...read more

Mutual funds pool money from multiple investors to invest in a diversified portfolio of securities. Hedge funds are actively managed investment funds that use a variety of strategies to achieve high returns. Private equity involves investing in privately held companies or buying out public companies to take them private.

• Mutual funds pool money from multiple investors to invest in a diversified portfolio of securities.

• Hedge funds are actively managed investment funds that use ...read more

The treatment for a patient suffering from heart disease depends on the specific type of heart disease and the severity of the condition.

• Treatment options may include medications, lifestyle changes, surgical procedures, or a combination of these.

• Examples of treatments for heart disease include beta-blockers, ACE inhibitors, statins, angioplasty, bypass surgery, and cardiac rehabilitation.

• It is important to consult with a cardiologist to determine the most appropriate treatmen...read more

Using PySpark to read CSV files involves creating a SparkSession and using the read method.

• Create a SparkSession object

• Use the read method of SparkSession to read the CSV file

• Specify the file path and format when reading the CSV file

Audit assertions are the claims made by management regarding the accuracy and completeness of financial statements.

• Audit assertions are used by auditors to assess the risk of material misstatement in financial statements.

• There are six types of audit assertions: existence, completeness, accuracy, valuation, rights and obligations, and presentation and disclosure.

• For example, existence assertion refers to whether the assets and liabilities actually exist, while completeness ass...read more

The 3 pillars of data management are data quality, data governance, and data security.

• Data quality ensures that data is accurate, complete, and reliable.

• Data governance involves establishing policies and procedures for managing data assets.

• Data security focuses on protecting data from unauthorized access or breaches.

Discrepancies identified during experienced IA client engagements

• Identified discrepancies in financial statements such as misstatements or errors

• Discovered inconsistencies in internal controls leading to potential risks

• Uncovered discrepancies in inventory counts or valuation methods

• Identified discrepancies in compliance with regulatory requirements

• Found discrepancies in data analysis or reporting processes

Fraud detection involves identifying suspicious activities and patterns that indicate fraudulent behavior.

• Monitor financial transactions for unusual activity

• Conduct background checks on employees and vendors

• Implement strong internal controls and segregation of duties

• Use data analytics to identify anomalies and patterns

• Stay up-to-date on industry trends and fraud schemes

• Encourage whistleblowing and provide a safe reporting mechanism

Competitor analysis involves identifying and evaluating the strengths and weaknesses of competitors.

• Identify competitors in the market

• Gather information on their products/services, pricing, marketing strategies, and target audience

• Analyze their strengths and weaknesses

• Compare their offerings to your own

• Identify opportunities and threats in the market

• Use SWOT analysis to summarize findings

LASA drugs are medications that have similar names or packaging, leading to potential confusion and medication errors.

• LASA drugs can have names that look alike or sound alike, increasing the risk of errors in prescribing, dispensing, and administering medications.

• Examples of LASA drugs include hydroxyzine and hydralazine, Celebrex and Celexa, and Zantac and Xanax.

• Healthcare providers should be vigilant in identifying LASA drugs and taking steps to prevent medication errors.

Clinical pharmacists play a crucial role in patient care by providing medication therapy management and ensuring safe and effective use of medications.

• Conducting medication therapy management to optimize drug therapy and improve patient outcomes

• Collaborating with healthcare providers to develop treatment plans and monitor patient progress

• Educating patients on proper medication use and potential side effects

• Participating in multidisciplinary teams to ensure safe and effective ...read more

BPO stands for Business Process Outsourcing. It involves contracting non-core business functions to a third-party provider.

• BPO is a cost-effective way for companies to outsource tasks such as customer service, data entry, and accounting.

• It allows companies to focus on their core competencies while the BPO provider handles the non-core functions.

• Examples of BPO providers include Accenture, IBM, and Infosys.

• BPO can be done onshore, nearshore, or offshore depending on the locati...read more

Our policy for company growth focuses on strategic planning, innovation, and continuous improvement.

• We prioritize strategic planning to identify opportunities for growth and set clear objectives.

• We encourage innovation to stay ahead of competitors and adapt to changing market trends.

• We emphasize continuous improvement to optimize processes and enhance overall performance.

Yes, content review involves evaluating and analyzing content for accuracy, relevance, and compliance.

• Content review is a process of evaluating and analyzing content for accuracy, relevance, and compliance with guidelines and policies.

• It involves checking for factual errors, grammatical mistakes, and ensuring that the content is appropriate for the intended audience.

• Examples of content that may require review include social media posts, marketing materials, and website conten...read more

Indicators are measurable variables used to track progress or performance in a specific area.

• Indicators are used to measure progress towards a goal or target.

• They provide a way to assess the effectiveness of interventions or strategies.

• Examples include financial indicators like revenue growth, or social indicators like literacy rates.

• Indicators can be quantitative (e.g. number of sales) or qualitative (e.g. customer satisfaction).

The most important aspects of sales include building relationships, understanding customer needs, effective communication, and closing deals.

• Building relationships with customers to gain trust and loyalty

• Understanding customer needs and providing solutions that meet those needs

• Effective communication to convey the value of products or services

• Closing deals by overcoming objections and negotiating terms

Depreciation refers to the decrease in value of an asset over time due to wear and tear, obsolescence, or other factors.

• Depreciation is a non-cash expense that is recorded on the income statement.

• It is used to allocate the cost of an asset over its useful life.

• There are different methods of calculating depreciation, such as straight-line, declining balance, and sum-of-the-years'-digits.

• Examples of assets that can be depreciated include buildings, vehicles, machinery, and equi...read more

The golden rules of accounting are basic principles that guide the recording of financial transactions.

• The first golden rule is the rule of debit and credit.

• The second golden rule is the rule of consistency.

• The third golden rule is the rule of conservatism.

• The fourth golden rule is the rule of materiality.

• The fifth golden rule is the rule of objectivity.

• The sixth golden rule is the rule of relevance.

• The seventh golden rule is the rule of feasibility.

Various tests can be done to check for cancer, including imaging tests, blood tests, biopsy, and genetic tests.

• Imaging tests such as X-rays, CT scans, MRI scans, and PET scans can help detect tumors and determine their size and location.

• Blood tests can detect certain markers that may indicate the presence of cancer, such as PSA for prostate cancer or CA-125 for ovarian cancer.

• Biopsy involves taking a sample of tissue to examine under a microscope for the presence of cancer ce...read more

An adverse drug reaction is a harmful or unintended response to a medication.

• Adverse drug reactions can range from mild side effects like nausea or dizziness to severe reactions like anaphylaxis.

• They can be caused by various factors including individual genetics, drug interactions, or incorrect dosage.

• Common examples include skin rashes from antibiotics, gastrointestinal issues from NSAIDs, or liver damage from certain medications.

Invasive refers to medical procedures that involve entering the body, while non-invasive refers to procedures that do not penetrate the body. Stroke is a medical condition that occurs when blood flow to the brain is disrupted.

• Invasive procedures involve cutting or puncturing the skin, such as surgery or inserting a catheter

• Non-invasive procedures do not break the skin, such as X-rays or ultrasounds

• Stroke is a medical emergency that occurs when blood flow to the brain is inter...read more

Fill 3 liter flask, pour into 5 liter flask, refill 3 liter flask, pour into 5 liter flask until full. 1 liter will remain in 3 liter flask.

• Fill 3 liter flask

• Pour into 5 liter flask

• Refill 3 liter flask

• Pour into 5 liter flask until full

To solve if ordered item is wrong, contact the seller or customer service for a replacement or refund.

• Contact the seller or customer service immediately

• Explain the issue and provide necessary details

• Request a replacement or refund

• Follow any instructions provided by the seller or customer service

• Return the wrong item if required

Materiality refers to the significance or importance of information in relation to a company's financial statements.

• Materiality is a concept used in accounting and auditing.

• It helps determine what information is important enough to be included in financial statements.

• Materiality is based on the amount or nature of the information and its impact on the financial statements.

• For example, a $10,000 error in a company with $1 million in revenue may not be material, but the same er...read more

Analysis of financial statements involves reviewing and interpreting a company's financial data to assess its performance and make informed decisions.

• Review income statement, balance sheet, and cash flow statement to understand financial health

• Calculate key financial ratios like profitability, liquidity, and solvency ratios

• Compare current financial data with historical data and industry benchmarks

• Identify trends, strengths, weaknesses, and areas for improvement

• Use financial a...read more

Handle angry customers by staying calm, listening actively, empathizing, apologizing, and finding a solution.

• Remain calm and composed

• Listen actively and let the customer vent

• Empathize with the customer's situation

• Apologize for the inconvenience caused

• Find a solution that satisfies the customer

• Follow up with the customer to ensure satisfaction

Handling irate customers requires active listening, empathy, and problem-solving skills.

• Remain calm and professional

• Listen actively and empathize with the customer's frustration

• Apologize for the issue and take ownership of finding a solution

• Offer options for resolution and follow through on commitments

• Document the interaction for future reference

• Examples: offering a refund, providing a discount on future purchases, or escalating the issue to a supervisor if necessary

Joiner transformation - connected and unconnected look up difference

• Joiner transformation is used to join two sources based on a common key

• Connected lookup is used when the lookup table is in the same mapping

• Unconnected lookup is used when the lookup table is outside the mapping

• Connected lookup returns multiple rows while unconnected lookup returns only one row

• Joiner transformation can be used with both connected and unconnected lookup

Limited partners are passive investors with limited liability, while general partners are actively involved in managing the business with unlimited liability.

• Limited partners have limited liability and are not involved in the day-to-day operations of the business.

• General partners have unlimited liability and are actively involved in managing the business.

• Limited partners typically contribute capital to the business but do not have a say in its management.

• General partners are ...read more

Corporate actions refer to events initiated by a public company that can affect its shareholders and securities.

• Corporate actions include dividends, stock splits, mergers, acquisitions, rights issues, and spin-offs.

• These actions can impact the value of securities, alter ownership structure, or change the financial structure of the company.

• Investors need to stay informed about corporate actions to make informed decisions about their investments.

Esophagogastroduodenoscopy

• EGD stands for Esophagogastroduodenoscopy

• It is a procedure used to examine the lining of the esophagus, stomach, and duodenum

• EGD is commonly used to diagnose conditions such as ulcers, inflammation, and cancer

Commercial due diligence is the process of evaluating a company's commercial potential and risks before making an investment or partnership.

• Involves analyzing market trends, competition, customer base, and growth potential

• Assesses the target company's business model, revenue streams, and key performance indicators

• Helps investors make informed decisions by identifying potential opportunities and threats

• May include interviews with key stakeholders, financial analysis, and indus...read more

Accounts refer to financial records of an individual or organization that show the transactions and balances of assets, liabilities, and equity.

• Accounts are used to keep track of financial transactions and balances.

• They include records of assets, liabilities, and equity.

• Examples of accounts include bank accounts, credit card accounts, and investment accounts.

• Accounts are important for financial planning, budgeting, and tax purposes.

I have a strong understanding of market trends, competition, consumer behavior, and industry dynamics.

• I regularly analyze market reports, industry news, and competitor strategies to stay informed.

• I have experience conducting market research, identifying target markets, and developing marketing strategies.

• I understand the importance of staying updated on market trends and adapting strategies accordingly.

• I have successfully launched products/services in competitive markets and ...read more

High-risk medications are medications that have a higher likelihood of causing harm if not used properly.

• High-risk medications are typically those with a narrow therapeutic index, meaning the difference between a therapeutic dose and a toxic dose is small.

• Medications that require close monitoring and dose adjustments, such as anticoagulants and certain chemotherapy drugs, are considered high-risk.

• Drugs with a high potential for abuse or misuse, like opioids and benzodiazepine...read more

I have over 5 years of experience in the field of internal audit, working with various industries and conducting risk assessments, compliance audits, and process improvements.

• Conducted risk assessments to identify potential areas of concern

• Performed compliance audits to ensure adherence to regulations and policies

• Implemented process improvements to enhance efficiency and effectiveness

• Worked with diverse industries such as manufacturing, healthcare, and finance

• Utilized data an...read more

LAN stands for Local Area Network. It is used to connect computers and devices within a limited area, such as a home, office, or school.

• LAN allows for the sharing of resources, such as files, printers, and internet connections, among connected devices.

• LANs are typically faster and more secure than wide area networks (WANs) due to their limited geographic scope.

• Examples of LAN technologies include Ethernet, Wi-Fi, and Token Ring.

• LANs can be wired or wireless, with Ethernet bei...read more

WAN stands for Wide Area Network, it is a network that covers a broad area, such as a city or country, connecting multiple LANs.

• WANs are typically used by businesses or organizations to connect geographically dispersed locations.

• They utilize various technologies such as leased lines, satellite links, and MPLS to transmit data over long distances.

• Examples of WAN technologies include T1 lines, Ethernet, and VPNs.

• WANs are often slower than LANs due to the longer distances data m...read more

Vlookup formula is used to search for a value in the first column of a range and return a value in the same row from another column.

• Use the VLOOKUP function in Excel or Google Sheets

• Specify the lookup value, table array, column index number, and range lookup (exact match or approximate match)

• Example: =VLOOKUP(A2, Sheet2!A:B, 2, FALSE) will search for the value in cell A2 in the first column of Sheet2 and return the corresponding value from the second column

Debit and credit are fundamental concepts in accounting that represent the increase or decrease in assets, liabilities, and equity.

• Debit is an entry on the left side of an account that increases assets and decreases liabilities and equity.

• Credit is an entry on the right side of an account that decreases assets and increases liabilities and equity.

• Debits and credits are used to record transactions and maintain the balance in the accounting equation (Assets = Liabilities + Equi...read more

To find the top 3 horses from a set of 25 horses, we can sort them based on their performance or rankings.

• Sort the horses based on their performance or rankings

• Select the top 3 horses from the sorted list

• Consider factors like speed, endurance, and previous race results

IRR, NPV, and NAV are financial metrics used to evaluate the profitability and value of investments.

• IRR (Internal Rate of Return) is the discount rate that makes the net present value of all cash flows from a particular investment equal to zero.

• NPV (Net Present Value) is the difference between the present value of cash inflows and outflows of an investment.

• NAV (Net Asset Value) is the value of a fund's assets minus its liabilities, divided by the number of shares outstanding....read more

Net asset value (NAV) is the value of a fund's assets minus its liabilities, divided by the number of shares outstanding.

• NAV is calculated by subtracting the fund's liabilities from its assets.

• The result is then divided by the number of shares outstanding to determine the NAV per share.

• NAV is used to determine the price at which shares of a mutual fund are bought or sold.

• It is an important metric for investors to assess the value of their investments.