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Financial Associate interview questions shared by candidates

## Top Interview Questions

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Financial Professional Associate was asked...22 November 2011

### What would you do if you presented products/services, client was very interested, had no further questions, price was right, and still they did not sign a contract.

i would assure them that this is a risk free product and services or implement a free trail Less

why would you ask why when they were fully satified with the product and services and the price. Less

### Brain Teaser: Blindfolded. In a room with 8 coins. What is the minimum number of flips required to guarantee that one of the permutations had all coins with the same side?

There is only one way to get all heads and one way to get all tails. Total probability of getting the same set is 2/2^8. The expected time it takes for a result of probability p to appear is 1/p. So the answer is 2^7 = 128 Less

Sorry a typo, it should be 2^(n-1) - 1

Any answer? I would say : (1/0.5)^8

### The recruiter always asks: tell me what the difference is between cash and accrual accounting, but the interviewer has no knowledge of acounting so it's pointless getting into detail.

The difference between accrual and cash basis accounting is in the timing of when revenue and expenses are recognized. The cash method is more immediate recognition and accrual method focuses on anticipated revenue Less

The difference between cash and accrual is cash you paid immediately cash for items acquired. Accrual means you set up transactions as a contract debiting receivable and credited liability accruing cost and recognized expense or revenue when you bill customer or collect money. Less

Also it's keeping track of what price it was

### What are the accountimg rules

Real account debit what comes in credit what goes out Personal account debit the receiver credit the giver Nominal account debit all expenses and losses credit all incomes and gains Less

3 golden rules

Real account debit what comes in Credit what goes out Personal account debit the receiver Credit the giver Nominal account debit all expenses and losses Credit all incomes and gains Less

### Why amscot. What do I know about it etc

I answered honestly and did a lot of research on them also

I never did get a call back i called them got left a message instead of a call back I got a pathetic email back saying basically they aren't interested but it's kinda a slap in the face when u apply somewhere and the person interviewing you isnt even the one who decides weather you get the job. Or they repost the job the next day. Obviously they can't keep ppl bc they treat the employees like crap and any good review is def fake bc the owner and ceo careless Less

Ceo and owner is money hungry and careless about employee. They forget that with out us workers they have No company . Less

Good

### Do you have any questions for me?

When they ask this question, they are looking for some type of questions to see how motivated you are in knowing in the company. Less

Do I present you with my soul now, or later?

### DId you ever have a challenge with any of your managers and what did you do about it?

If you are ever asked the question, “have you ever had a challenging situation with a manager?” It is important not to give an example that makes you look like someone who fights and causes trouble within an organization. In fact, if you are asked this question, “did you ever have difficulty with a manager or a challenge with a manager?” You can start your answer by saying, "I have never had a serious challenge with a manager”. With that being said, that is not a sufficient answer. So you do want to show that you do disagree at times with people, but you are able to find common grounds and are able to resolve issues peacefully. Something like, "There have been times where a manager and I have thought differently about a topic and we discuss it, and sometimes the manager sees my point of view, and sometimes I see theirs. But ultimately, we are able to come to a conclusion and resolve any sort of difference of a opinion quickly and smoothly.” Just saying something like that will reassure the interviewer that you’re not someone who is going to cause problems at their organization. Less

### Describe the difference between cash basis and accrual basis accounting.

Correctly

Do you remember what questions they asked about accounting principles? Or any basic accounting questions Less