Insurance Interview Questions and Answers

1 :: What is assessment year and previous year?

Assessment year is the year in which the income earned is
assessed. Previous year is the year in which income is
earned. Eg. AY 2009-10 and prev year is 2008-09

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2 :: What is the formula for the calculation of Gratuity?

BASIC + DA (Last Pay drawn) X 15 /26 X No.OF YEARS WORKS.

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3 :: Where do you see yourself five, ten or fifteen years from now?

This is your interviewer’s way of knowing about two things. Firstly, he or she wants to know how dedicated you are towards your career; and also how realistic. There is a huge difference between being ambitious and over ambitious, so keep your answers practical and attainable, but they should in no way project you as a hare. Secondly, your interviewer wants to know how the company will benefit from you achieving your goals than what you’ll get from it, but it is one and the same thing, to a large extent. It is a bad idea to tell your potential employer that you plan to go for his or her job, but it is okay to mention that you’d like to earn a senior or management position.

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4 :: What is general insurance? name 5 types of general
insurance?

► LIVE STOCK INSURANCE
► OVERSEAS INSURANCE
► GLASS INSURANCE
► FIDELITY INSURANCE
► KEY MAN INSURANCE

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5 :: You will be working as part of a team? How good are you working in a team?

Being a team player is getting more and more important in today’s specialized world. It is imperative that you convince your interviewers that you are and have been a good team player throughout your career. If you take part in any kind of team sports, take this opportunity to tell your interviewers about it. The same should be done if you are part of a theater group or any other team for that matter.

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