The biggest economies of the world can be run solely with the power of their financial institutions. This is basically because of the rationale that money is the essence of every business organization, without which their survival is almost impossible. Banks are one of the most vital cogs in the financial machinery, which reconcile the need and demand of money. It is hard and even in the wildest stretch of the imagination, impossible to imagine a modern world without banks.
Hence, it is in the best possible interest of a nation, to always set up and support the banking economy. Working at such a pivotal institution is of huge relevance and it would not be wrong to term it as a service serving the development of the nation. Bank tellers are often employed at banking institutions whose primary role is to provide efficient and timely customer services. The pay package offered by the banks is usually lucrative with the position carrying huge respect and recognition in the general society. The interview process is usually tricky and conceptual, which can only be aced through serious preparation.
21 Best Interview Qestions To Study
1) What Do You Understand By Balance Sheet and Income Statement?
This question tests your core accounting as well as basic commerce principles. Being a bank teller you are expected to have complete knowledge of finance, investment schemes and products, and general accounting principles.
Sir, Balance sheet and Income statement are the two most widely used financial statements prepared by an organization as a part of compliance procedures. A balance sheet is a summary of assets and liabilities of the organization as on a particular date. It enables the users of the financial statements to evaluate the organization’s ability to pay off its short-term as well as long-term debt. On the other hand, an Income statement is also known as a profit and loss account, is the summary of all the expenses incurred and incomes earned by the business organization in a specified period of time.
2) Explain Current Ratio?
The job of a bank teller requires you to solve the financial problems of the customers. Hence, you must be aware of the basic financial ratios and their relevance.
Sure sir. The current ratio establishes a relationship between the organization’s current assets and current liabilities, with current assets simply refers to those short-term debts which have the ability to generate a positive cash inflow for the company within a period of 12 months. Similarly, current liabilities refer to the dues or company borrowings that will become payable within the next 12 months. A current ratio is an indicator of the financial position of the organization, which simply shows the organization’s ability to cover and pay off its short-term liabilities using its current assets.
3) Rate Your Level Of Acquaintance With Popular Accounting Software On A Scale Of One To Five.
This question tests your knowledge and awareness of the latest and most popular accounting software. It is a high possibility that while working in a bank you will be using specials banking software, but still, interviewers prefer to ask this question so as to judge your level of technical friendliness.
Sir, I have hands-on knowledge of the popular Quickbooks and Zoho Accounting Software. Further, I have also worked on Xero, but to be frank I do not possess that good a knowledge of it. Hence, overall I would like to rate myself a 4.7 in terms of the level of acquaintance with accounting software.
4) Are You Aware Of Retained Earnings? If Yes, Please Give A Brief Explanation.
This question tests your core principles of commerce and accounting.
Yes sir absolutely, I am very much aware of the same. Business organizations thrive and operate to earn profits. A part of this profit is retained by the business organization to be plowed back into the business and the other part is distributed to its shareholders in the form of dividends. The amount retained by the organizations to be eventually re-invested into the business operations is known as retained earnings. Big organizations having a huge turnover prefer to prepare a retained earnings statement, so as to keep a check and control on their reserves and cash balances.
5) How Can You Recognize Probable Income In The Books Of Accounts?
This question tests your core accounting principles and practical knowledge in relation to the preparation of the financial statements.
Sir, as per US GAAP, corporates, individuals, and other business houses are prohibited from recognizing any possible gains or incomes. This is primarily due to the concept of prudence, which states that an organization must record, account for, and report all the probable losses, ignoring all the probable incomes. Hence, we are not allowed to record probable income, while preparing the financial statements of the organization.
6) How Efficiently Can You Handle Stress?
This is a common interview question through which an interviewer wants to know your viewpoints and approach towards handling stressful and hectic working conditions.
Sir, I want to assure you that I have the ability and physical strength to maintain my efficient working methodology and productivity in even the most distressed and stressful working conditions. This is largely due to the fact that I always maintain high levels and standards of my fitness by engaging myself in frequent intense physical workouts and activities. Further, working in stressful working conditions requires a high level of concentration and focus, which I always try to maintain by engaging myself in regular meditation and yoga.
7) What Is Excluded From A Quick Ratio and Why?
This question tests your theoretical knowledge so as to evaluate your basic and fundamental accounting foundation.
Sir, A quick ratio is also known as the acid test ratio and is an extension of the current ratio, which is used to analyze the financial position of the organization. In a quick ratio, the numerator part which consists of the current assets is reduced by inventory and prepaid expenses, which returns us quick assets. The basic concept is to understand the organization’s ability to meet its short-term liabilities and financial obligations, using its most liquid assets, which can be converted into cash and cash equivalents within a period of 90 days. Inventory and prepaid expenses (claiming refund), can take more than 90 days in order to generate a positive cash inflow, and hence are excluded.
8) Please Explain Two Major Investment Options For Fixed Income Investors?
This question tests your knowledge and understanding of the various investment options available in the market. Being a bank teller you will be supposed to cross-sell some of the popular investment products as per the risk appetite of the investor.
Sir, In my opinion, investors opting for fixed income schemes are conservative investors having the appetite to take moderate risks. The best options for them would be a Systematic Withdrawal Plan of Mutual funds and investment in government bonds and debentures, offering regular interest payments, calculated at a pre-decided coupon rate.
9) How Will You Handle A Disgruntled Customer?
The banking business is a retail business, which involves public dealing and communication. There are frequent instances of a customer becoming disgruntled, owing to inferior services and sometimes merely due to some misunderstandings. Whatever the case may be, being the face of the bank, you are expected to handle them effectively.
Sir, I totally understand the relevance of this question. If during my tenure, I ever encounter such a situation, I would first like to use my active listening skills in order to completely understand the problem of the customer. Post this, I believe I would be in a superior position to utilize my critical thinking ability, so as to generate and advise the client on a possible resolution. In my opinion, he or she would be satisfied by the resolution provided by me. But in case the customer is still discontent, I would refer the case to my senior.
10) How Can An Organization Consolidate Its Shareholding?
This question tests your ability and understanding of the core accounting and shareholding concepts.
Sir, in order to do so, an organization can initiate a stock repurchase or buyback program, in which an organization purchases its own issued shares from the general public or large investors. The buyback is often carried out on a Dutch Auction Model, wherein an organization receives bids in the price range set by the company in order to purchase the outstanding shares.
11) Which Is Your Favorite Animal?
This is a personality evaluating question, which requires some extra knowledge in relation to animals and it’s unique characteristics. The features or special attributes of the animals will form the main body of the answer and this would immensely help an interviewer to understand your own viewpoint or ideology.
Sir, I am an animal lover and by choosing one, I just do not want to disrespect the animal community. However, I would love to choose Bald Eagle, as my answer. This bird has some exceptional levels of concentration which is largely unperturbed by distractions and disturbances. It can wait all day and night, in search of its bait and after hunting, it goes straight to its offspring in order to feed them. This shows a humble, responsible, and kind attitude with unmatched levels of focus, courage, and determination. If God ever gives me a chance, I would like to have these qualities in me.
12) Name Two Popular Banking Software.
This question tests your knowledge of popular software used in the banking industry globally.
Sure, sir, These are:
- SAP Banking and Financial Services Software
- Oracle Flexcube Core Banking Software
13) Explain The Relevance Of Carrying Cost In The Field Of Accounting?
This question tests your ability and understanding of the core accounting concepts.
Sure sir. Carrying cost is the cost at which a fixed asset is recorded in the books of accounts. It is the sum total of the:
- Purchase cost
- Legal fees
- technical fees
- Labour charges in loading and unloading
- Installation charges, etc
14) What Is Your Perception Towards Pilferage and Burglary At The Workplace?
This question is usually asked to evaluate your viewpoint and tolerance level of unethical activities such as burglary, stealing, and pilferage at the workplace. In order to answer this question effectively, try to persuade and convince your interviewer that you are completely against such malafide activities.
Sir, these are horrendous and in my opinion, such acts show the highest levels of the traitor ship and unfaithfulness towards your own employer. I am totally against such unethical activities and vehemently oppose the same. Be assured that, I would never indulge or stimulate myself into performing such activities, requiring malafide intentions.
15) When Can You Start?
This is a common interview question through which an interviewer wants to take a quote of your availability. This question is in no way a guarantee for your selection and after listening to it, you are requested to control your emotions and the level of excitement.
- For Employed Individuals: Sir, I am currently working with an employer organization and since I was desperate for a job change, I have already sent a letter of resignation to my curent employer. However, my relicing letetr is still due, which I expect, I would be able to recive within 4 working days. Adding two days of buffer, I wish to state that I have the ability to join the organization on or after (___mention the date of your joining___ )
- For Freshers/Unemployed Individuals: Since, I am not working as of now, and I have no prior obligations to fulfill, I have the ability to start with the organization on an immediate basis.
16) What Motivates You To Work?
This is a common interview question through which an interviewer wants to know what motivates you to work hard and achieve your goals and objectives in life. These factors are often specific to different individuals and depend largely on the individual circumstances, situations, and conditions in which a person is spending his or her life. Hence, always avoid a generic answer to this question.
Sir, in my humble opinion, money is the primary motivational factor in my case. This is largely due to the fact that I am a person belonging to a lower-middle-class family, with I being the sole earner in a family of five. Only when I would work hard and would contribute to my organization with all my passion and zeal, could I succeed and earn recognition and a higher salary from my employer organization. However, It would be utterly wrong to consider me as a mercenary or a greedy person.
17) How Aware Are You Of Major Stakeholding and Major Investment?
This question tests your knowledge and understanding of the various forms of investments available in the market.
Sir, I am completely aware of both these terms as well as the entire concept of investments into other business organizations. When an acquirer organization, purchases more than 50% shareholding of the other business organization, then it holds a major stake in the company. It often finds its place in the board of directors of the company and earns the ability to influence major economic business decisions. Similarly, the other investment is passive in nature, when an organization purchases a minority stake in the other business organization, which is less than 50% of the total shareholding of the target company.
18) Are You Aware Of The Long Term Assets With Finite Life?
This question tests your core accounting principles and practical knowledge in relation to the preparation of the financial statements.
Yes, sir, I am aware of the same. Long-term assets have the ability to generate economic benefits for the organization for a period exceeding more than 12 months. These long-term assets can be classified into two categories, fixed assets, and intangible assets. Fixed assets have the capability of being touched and seen by the naked eye, but on the other hand, Intangible assets, are invisible and can be only felt or observed on a piece of paper. Some common examples of fixed assets are land, building, factory, etc. and intangible assets are trademark, copyright, customer’s lists, etc.
19) Why You Chose Us?
This is a common interview question through which an interviewer wants to know and evaluate your level of awareness and seriousness towards the organization. Make sure, to prepare an answer for this question using the official website of the organization, as such websites usually mention everything in relation to the company, ranging from their history to achievements to the present state.
Being a global brand, having branches spread in almost 20 countries providing trustworthy and efficient banking services to more than 100,000 customers, it is a place where dreams come true. The organization has a decades-old tradition of carrying on multiple profitable business ventures, serving the very basic needs of the business organizations as well as the individual customers. The future too has been projected quite rosy, by several analyst firms. I definitely want to be part of this success story and of this experienced workforce.
20) What Does Your Friends Say About You?
This is a personality evaluating question, which requires you to share both your weaknesses as well as your strengths. This would not only help an interviewer to evaluate your personality but he or she would also be in a position to judge your communication as well as interpersonal skills.
Sir, I have do have a lot of friends, and they say a lot of things about me. However, I would like to share and respond as this answer, some of the common things, spoken by a majority of them. First of all, they rate me as a master speaker. They believe I have excellent communication skills and I can give long speeches without getting stuck or even using fillers. Secondly, they also criticize me for my attitude of getting frustrated and short-tempered pretty quickly. I am on my way, to hone my positive skills and eliminate the known and recognized shortcomings.
21) Do You Have Any Questions For Us?
This is usually the last question of an interview session. Candidates encountering such a question must make sure that this is the end of their interview proceedings. This question requires a candidate to ask a few questions from the interviewer in relation to the organization, the work timings, the various incentives and benefits offered, etc. If you are planning to take this question lightly or even planning to skip it, then you are making a grave mistake, as this can severely hurt your selection chances.
- What are the various health benefits offerd by the company to its employees?
- What are the anti-harassment and anti-bullying policies implemented by an organization at its workplace to protect its employees from possible instances of unethical activities?
- Please explain in brief the procedure adopted byt he organization in order to calculate the paid leaves.
- Is it a policy of the organization to offer paid paternity/aternity leaves to the employees of the organization?
- What are the various overtime allowances offered by the company to its employees?