20+ Associate 1 Interview Questions and Answers

MT202 is a SWIFT message type used for bank-to-bank transfers and includes information about the sender, receiver, and transaction details.

• MT202 is a SWIFT message type used for bank-to-bank transfers.

• It provides information about the sender, receiver, and transaction details.

• The format includes fields such as sender's reference, ordering customer, beneficiary customer, and transaction amount.

• Example: MT202 message format: {1:F01BANKAUSXXAXXX1234567890}{2:I202BANKDEFFXXXXU300...read more

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. It is a messaging network used by banks to securely communicate financial transactions.

• SWIFT is a global financial messaging network used by banks to send and receive information about financial transactions.

• It was founded in 1973 and is headquartered in Belgium.

• SWIFT assigns a unique code to each bank that uses its network, called a Bank Identifier Code (BIC).

• The network is used to securely transmi...read more

Windows administrators manage Windows operating systems while Linux administrators manage Linux operating systems.

• Windows uses a graphical user interface (GUI) while Linux uses a command-line interface (CLI)

• Windows is proprietary software while Linux is open-source software

• Windows has a larger market share in desktops and laptops while Linux dominates in servers and supercomputers

• Windows has a larger number of software applications available while Linux has a larger number of...read more

Python code can be integrated with any application using APIs, libraries, or frameworks.

• Use APIs to connect Python code with external applications or services

• Leverage libraries like Flask or Django to build web applications with Python backend

• Integrate Python scripts within applications using frameworks like PyInstaller or cx_Freeze

NAV is the total value of a fund's assets minus its liabilities, representing the per-share value for investors.

• NAV = Total Assets - Total Liabilities

• Total Assets include stocks, bonds, cash, and other investments.

• Total Liabilities include debts, fees, and other obligations.

• Example: If a fund has $10 million in assets and $2 million in liabilities, NAV = $10M - $2M = $8M.

• NAV is often expressed on a per-share basis for mutual funds.

Derivatives are financial instruments whose value is derived from an underlying asset or group of assets.

• Derivatives can be used for hedging, speculation, or arbitrage

• Common types of derivatives include options, futures, forwards, and swaps

• Derivatives allow investors to take on risk or hedge against risk in the financial markets

Private equity involves investing in privately held companies with the goal of generating high returns.

• Private equity firms raise capital from investors to acquire ownership stakes in private companies

• They aim to improve the performance of the acquired companies and eventually sell them for a profit

• Private equity investments are typically illiquid and have a longer investment horizon compared to public equity

• Examples of private equity firms include Blackstone Group, KKR, and ...read more

Switch forwards data packets between devices on the same network, while router forwards data packets between different networks. Ran network is a wireless network infrastructure, and SDH is a synchronous digital hierarchy used in telecommunications.

• Switch operates at layer 2 of the OSI model, while router operates at layer 3.

• Switch uses MAC addresses to forward data within a network, while router uses IP addresses to forward data between networks.

• Ran network stands for Radio ...read more

Trade Life Cycle refers to the stages involved in a trade from initiation to settlement.

• Trade initiation

• Trade execution

• Trade confirmation

• Clearing and settlement

• Trade reconciliation

• Trade reporting

• Examples: equities, bonds, derivatives

TDS stands for Tax Deducted at Source and TCS stands for Tax Collected at Source. They are types of indirect taxes in India.

• TDS is deducted by the payer at the time of making payment to the payee and is deposited with the government.

• TCS is collected by the seller from the buyer at the time of sale of specified goods and services.

• TDS rates vary based on the type of payment being made, while TCS rates are fixed by the government.

• Examples of TDS include salary, rent, commission ...read more

Yes, I am ready to work as a shared resource.

• I am comfortable collaborating with team members on various projects

• I am flexible and able to adapt to different work environments

• I have experience working in a shared resource capacity in my previous roles

var, let, and const are JavaScript keywords for variable declaration with different scopes and mutability.

• var: Function-scoped or globally-scoped, can be re-declared and updated. Example: var x = 10; x = 20;

• let: Block-scoped, can be updated but not re-declared in the same scope. Example: let y = 10; y = 15;

• const: Block-scoped, cannot be updated or re-declared. Must be initialized at declaration. Example: const z = 30;

Trial balance won't tally due to errors in recording transactions or posting to the wrong accounts.

• Errors in recording transactions can lead to discrepancies in the trial balance.

• Posting transactions to the wrong accounts can also cause the trial balance to not tally.

• Omission of transactions or duplicate entries can result in imbalance in the trial balance.

• Mathematical errors in calculating account balances can lead to discrepancies in the trial balance.

Yes, Python can be used with Robot Framework for test automation.

• Python is the programming language used to write test cases in Robot Framework

• Robot Framework is a generic test automation framework that utilizes keyword-driven testing approach

• Python libraries can be imported and used within Robot Framework test cases

Accrued interest is the interest that accumulates on a loan or investment over time, but hasn't been paid yet.

• Accrued interest is calculated on a daily basis until payment is made.

• For example, if you have a bond that pays interest semi-annually, the interest accrues daily.

• If you sell a bond before the interest payment date, the buyer pays you the accrued interest.

• Accrued interest is recorded as a liability for borrowers and an asset for lenders.

Net worth is the total assets minus total liabilities of an individual or company.

• Net worth is calculated by subtracting total liabilities from total assets.

• Assets can include cash, investments, real estate, and personal property.

• Liabilities can include debts, loans, and mortgages.

• Net worth is a measure of an individual's or company's financial health and stability.

Built-in functions are pre-defined functions in programming languages that perform specific tasks, enhancing code efficiency and readability.

• Ease of Use: Built-in functions simplify coding by providing ready-to-use functionalities, such as 'len()' in Python to get the length of a list.

• Performance Optimization: They are often optimized for performance, like 'map()' in Python, which applies a function to all items in an iterable efficiently.

• Code Readability: Using built-in func...read more