Bank of America Interview Questions and Answers

Excel is a powerful tool for data analysis, offering functions, formulas, and visualization capabilities.

• Use functions like VLOOKUP to search for data across tables. Example: =VLOOKUP(A2, B2:C10, 2, FALSE)

• Utilize pivot tables to summarize large datasets quickly. Example: Create a pivot table to analyze sales by region.

• Employ conditional formatting to highlight important data. Example: Use red fill for values below...read more

GST stands for Goods and Services Tax, a comprehensive tax on the supply of goods and services in India.

• GST was implemented in India on July 1, 2017.

• It replaced multiple indirect taxes like VAT, service tax, and excise duty.

• GST is categorized into three types: CGST (Central GST), SGST (State GST), and IGST (Integrated GST).

• For example, if a product costs ₹100, and the GST rate is 18%, the total cost will be ₹118.

• G...read more

Transactional annotations manage database transactions in applications, ensuring data integrity and consistency.

• Use @Transactional annotation in Spring to define transaction boundaries.

• Example: @Transactional(readOnly = true) for read operations to optimize performance.

• Propagation settings control how transactions behave when called from other transactions.

• Example: Propagation.REQUIRES_NEW starts a new transaction...read more

RANK assigns unique ranks with gaps for ties; DENSE_RANK assigns consecutive ranks without gaps.

• RANK() gives the same rank to tied values but skips subsequent ranks. Example: 1, 1, 3.

• DENSE_RANK() also gives the same rank to tied values but does not skip ranks. Example: 1, 1, 2.

• Use RANK when you want to reflect gaps in ranking due to ties.

• Use DENSE_RANK when you want a continuous ranking without gaps.

UNION combines results from two queries, removing duplicates; UNION ALL includes all results, retaining duplicates.

• UNION removes duplicate rows from the result set.

• UNION ALL includes all rows, even duplicates.

• Example: SELECT column1 FROM table1 UNION SELECT column1 FROM table2.

• Example: SELECT column1 FROM table1 UNION ALL SELECT column1 FROM table2.

• UNION may be slower due to duplicate removal; UNION ALL is general...read more

Reducing fails volume involves improving processes, enhancing communication, and utilizing technology effectively.

• Implement robust training programs for staff to minimize errors.

• Utilize automated systems to reduce manual entry mistakes, e.g., using software for data validation.

• Enhance communication channels between departments to ensure clarity and reduce misunderstandings.

• Regularly review and analyze failure data...read more

Buyins refer to the process of purchasing securities to cover short positions, ensuring compliance with settlement obligations.

• Buyins occur when a trader who has shorted a stock must buy shares to cover their position.

• For example, if a trader shorts 100 shares of a stock and the price rises, they may need to buy those shares back at a higher price.

• Buyins can happen due to a failure to deliver shares on the settlem...read more

I am drawn to Bank of America for its commitment to innovation, community impact, and career growth opportunities.

• Strong commitment to diversity and inclusion, fostering a welcoming workplace.

• Innovative technology initiatives, such as mobile banking and AI-driven services.

• Focus on sustainability and responsible banking, aligning with my values.

• Opportunities for professional development and career advancement throu...read more