Find Interview Questions for Shriram life insurance

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Overdue interest is the additional charge applied to a payment that has not been made by its due date. It is calculated on the outstanding amount for the period it remains unpaid.

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Back end collections refer to the process of collecting overdue payments after they have become delinquent, often involving more aggressive tactics or third-party collections. Front end collections involve collecting payments before they become overdue, typically through regular billing and customer communication to ensure timely payments.

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The golden rule of accounting is: "Debit the receiver, credit the giver."

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Yes, I have knowledge of taxation, including tax laws, regulations, and compliance requirements.

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MIS Standards refer to the guidelines and best practices for the design, implementation, and management of Management Information Systems. They ensure that the information generated is accurate, timely, relevant, and accessible for decision-making purposes.

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The Matching Principle in accounting states that expenses should be recorded in the same period as the revenues they help to generate. This is necessary to accurately reflect a company's financial performance and ensure that income statements provide a true picture of profitability during a specific time frame.

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The Monetary Unit Assumption states that financial transactions should be recorded in a stable currency, allowing for consistent measurement and comparison of financial data over time. This impacts financial record-keeping by ensuring that all financial statements are presented in a uniform currency, simplifying analysis and reporting.

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Accounting principles, such as the Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS), guide how assets, liabilities, and equity are recognized, measured, and reported on the balance sheet. They ensure consistency, reliability, and comparability in financial reporting, affecting how items are classified, valued, and presented.

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The Accrual Principle states that revenue and expenses should be recorded when they are earned or incurred, regardless of when cash is actually received or paid. This differs from cash accounting, where transactions are recorded only when cash changes hands.

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The Cost Principle states that assets should be recorded and valued at their original purchase cost, not their current market value. This means that the value of an asset on the balance sheet reflects the amount paid for it, which influences how assets are reported and affects financial statements.

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In my previous role, our company underwent a major software transition. I led a team of five through this change by first organizing a meeting to discuss the new system and address concerns. I created a training schedule to ensure everyone felt comfortable with the new tools. I encouraged open communication, allowing team members to share their challenges and successes. As a result, we successfully implemented the new software on time, and team productivity improved by 20% within the first month.

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I approach new technologies by first researching and understanding the basics through documentation and tutorials. I then practice using the tools in small projects or exercises to gain hands-on experience. Additionally, I seek help from colleagues or online communities when needed, and I stay adaptable by being open to learning and adjusting my approach as I gain more knowledge.

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In my previous job, I was assigned to a project that required knowledge of a new programming language, Python. I had only a basic understanding of it, so I dedicated a week to online courses and tutorials. I practiced by building small projects and sought help from colleagues who were experienced in Python. By the end of the week, I was able to contribute effectively to the project, and we successfully met our deadlines.

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I manage stress or frustration by taking a moment to pause and assess the situation. I prioritize tasks, break them down into smaller steps, and focus on what I can control. I also communicate with my team to share concerns and seek support, and I practice stress-relief techniques like deep breathing or short breaks to maintain my focus and productivity.

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To ensure I can pivot quickly when necessary, I take the following steps:

1. Stay informed about industry trends and changes.
2. Maintain flexibility in my plans and strategies.
3. Foster open communication with my team to share insights and feedback.
4. Regularly assess and review project progress and outcomes.
5. Develop a mindset that embraces change and encourages innovation.

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I prefer to work in the private sector because I value the opportunities for innovation, career growth, and a dynamic work environment that it offers.

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VSWR stands for Voltage Standing Wave Ratio. It measures the efficiency of power transmission in a transmission line, indicating how well the load is matched to the line. A lower VSWR value (close to 1:1) indicates better matching and less reflected power.

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Customer support is the assistance provided to customers before, during, and after purchasing a product or service, helping them resolve issues, answer questions, and ensure a positive experience.

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I am dedicated to providing excellent customer service, addressing inquiries, resolving issues, and ensuring customer satisfaction to support the company's goals.

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Rational Quality Manager is a tool used for managing and improving software quality by tracking defects, test cases, and test results. To get started, you would typically need to familiarize yourself with its features, set up a project, and begin creating and managing test plans and reports.