Most Popular Banking, Accounting & Finance Interview Questions & Answers

The application process for Accounting, Bank and Finance jobs are notoriously convoluted. It is obvious that while applying for such positions, job interviews are again at the forefront of many of your minds. To help you, here is a compilation of the most common and frequently asked Accounting, Bank and Finance job interview questions and answers.

 

 

Bank Job Interview Questions and Answers

 

  • 1. Why do you want to join banking sector?

    • While replying to this question, tell the employer about the growth in the banking segment, supported by some facts and figures. Tell them that how banking segment has evolved over the years and how the role of banking is not just limited to lending money and taking deposits. Emphasize how banks have been contributing in trading, encouraging the savings, bolstering of investments, attract capital for investments, fund transfer, and providing financial support to agriculture and manufacturing segments. You can also suggest how the banking segment has started using modern managerial techniques and practices, and the how the demands for skilled professionals have emerged lately.

       

      • 2. You are an engineering graduate/You have a degree in Computer Science, why do you wish to make a career in banking?

        • This is a tricky question, and you need to reply to this question very smartly. You can tell them that the scope of finding a job by an engineer is not restricted to just technical sectors and that you are versatile enough to work in this domain. Also that banks need interactive websites and mobile banking, which can be taken care by a person have a relevant knowledge and degree. Tell them that banking is a safe sector with ample employment opportunities. While replying, show a keen interest in joining the banking sector.

           

          • 3. How do you conduct a credit risk management assessment?

            • There is a strong demand for risk management experts in banking industry, hence there are huge chances that you will be asked this question. Here the interviewer wants to judge your ability to conduct a basic analysis of a client’s financial position and credit risk. You can describe the basic steps of credit risk assessments of individuals or firms. Interviewers want to assess if you are skilled enough to carry out the procedures on your own and how well you understand the bigger picture.

               

              • 4. What are the basic documents required to open a banking account?

                • This is a generic thing which you must be aware of. The interviewer wants to know how aware you are of the practical things. List the basic requirements –

                  • – Specimen signature card provided by the bank

                  • – 3 – 4 passport size photographs

                  • – Copy of PAN card

                  • – Copy of address proof and identity proof (Driving License, Passport, and Voter ID Card, etc.)

                   

                  Prepare well about these small details, you will be hired not just for your knowledge, but also for your smartness.

                  Also ReadHow to Write a Resume for a Banking and Finance Job?

                   

                  Accounting Job Interview Questions and Answers

                   

                  • 1. How important is documentation when it comes to accounting?

                    • You can frame your reply in a professional way and answer that the accounting professionals are responsible to present a true and fair view to the company management as well as the shareholders. Maintaining documents is important as it serves as the proof of the appropriate procedures followed and is a mandatory thing to present when audits are performed.

                       

                      • 2. Which accounting platforms have you worked with?

                        • If you are an experienced accounting professional, you must have worked with multiple accounting applications or enterprise resource planning systems. This technical accounting interview question will help you to inform your interviewers about your familiarity with the prominent accounting and business software packages.

                          Name the applications and versions of the software you have worked on. Tell them about your understanding of the software packages and their important features, also don’t forget to show your willingness to learn new technologies.

                           

                          • 3. How will you manage tight deadlines and multiple accounting projects?

                            • Usually, most accounting projects have tight deadlines and accounting professionals would need to work under high-pressure situations, while prioritizing important tasks. You can emphasize on how well you have acquired time management techniques to ensure quick and accurate transactions and tasks. Also, tell your interviewers that you have been a multi-tasker who has held the position responsibly and showcased outstanding results.

                               

                              • 4. How would you detect fraudulent entries in a journal or ledger?

                                • The interviewer wants to check if you are vigilant enough during the accounting processes. Being an accounting professional, you are expected to carry out fraud detection for the protection of the company’s finances and values. You can tell them about your familiarity in using a combination of software features and fraud monitoring tools, apart from your own judgment skills and ethics to identify unusual or fraudulent patterns.

                                   

                                  • 5. What are the accounting concepts?

                                    • The interviewer expects you to know the basic accounting concepts. Keep these concepts on your tips, as it is among the most common accounting questions being asked in the interviews –

                                      • – Accounting Period Concept

                                      • – Business Entity Concept

                                      • – Cost Concept

                                      • – Dual Aspect Concept

                                      • – Going Concern Concept

                                      • – Matching Concept

                                      Money Measurement Concept

                                      Read More

                                       

                                      Finance Job or Financial Expert Job Interview Questions and Answers

                                       

                                      • 1. What programs would you use to prepare technical reports with graphs and spreadsheets?

                                      You can impress the interviewer by telling them how one program is better than another. This will show that you are updated with the current trends and how well you are contributing to the business by being a market researcher. List you preferences and name the programs that you use most commonly. Microsoft Excel is something every financial professional vouches for, so don’t forget to mention it.

                                       

                                      • 2. What is the difference between a journal and a ledger?

                                      A journal is a book where all the financial transactions are recorded for the first time, while a ledger has particular accounts taken from the original journal. This is a basic question, if you haven’t read about it, do read it well.

                                       

                                      • 3. What is financial modeling?

                                      You can reply that it is the basic practice of conducting a financial analysis, mainly used for asset pricing or general corporate finance.

                                       

                                      • 4. What does your financial analysis reporting process involve?

                                      Reporting is the key aspect of finance analysis and your interviewer would expect you to follow a well-designed approach in your financial analysis reporting process. This will showcase your critical thinking and organizational skills. Read well about –

                                      • – Reporting tools & methodologies

                                      • – Financial report components

                                      • – Different analysis techniques

                                       

                                      • 5. What is the best metric to use to analyze a company’s stock?

                                      With this corporate finance interview question, the interviewer wants to check your risk assessment skills. Your reply should reflect that you have a well-defined strategy to measure stock’s performance and present findings using examples and reasoning. As a finance professional, you are expected to evaluate risk and reward of financial investment opportunities. You can take an example of Operating Margin Profit, which shows projected earnings growth rate and how it is the higher ranked commonly used price/ earnings ratio (P/E). Describe how you find it an important metric to assess a business’ financial health.

                                      Also Read10 Most Popular Interview Questions Asked by Recruiters

                                       

                                      Conclusion

                                      If we talk about bank, finance and accounting job interview questions, the interviewers expect the candidate to be associate his/her skills, education, personality, and experience along with the job experience. If you don’t have much of skills, experience or qualification, it is important that you showcase your energy and passion towards the job. Prepare well for the interview and move forward with confidence. All the best!

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                                      Categories: Interview Tips

About Rashmi Karan

Rashmi Karan is a professional writer who has written for a plethora of job related websites, particularly for the Gulf region. She writes about the latest Gulf job industry trends and offers solution to all career related queries and dilemmas.

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