Find Interview Questions for Bluecross blueshield of tennessee

Right Answer:
Catch-up depreciation is the adjustment made to the depreciation expense in a given period to account for the difference between the actual depreciation taken and the amount that should have been taken in previous periods. This typically occurs when an asset's depreciation method or useful life is changed, allowing the company to "catch up" on the depreciation expense that was underreported.

Right Answer:
To evaluate the internal control audit, follow these steps:

1. **Understand the Control Environment**: Assess the organization's culture, governance, and ethical values.
2. **Identify Key Controls**: Determine which controls are critical for mitigating risks in financial reporting and compliance.
3. **Test Control Design**: Evaluate whether the controls are properly designed to prevent or detect errors and fraud.
4. **Test Control Operating Effectiveness**: Perform tests to see if the controls are functioning as intended over a period.
5. **Assess Risk**: Identify and evaluate risks associated with the controls and their impact on financial statements.
6. **Document Findings**: Record the results of your evaluation, including any deficiencies or areas for improvement.
7. **Report Recommendations**: Provide actionable recommendations to strengthen internal controls based on your findings.

Right Answer:
The concepts of accounting include:

1. **Accrual Concept**: Revenues and expenses are recorded when they are earned or incurred, not when cash is received or paid.
2. **Consistency Concept**: Accounting methods should be applied consistently from one period to another.
3. **Going Concern Concept**: Assumes that a business will continue to operate indefinitely.
4. **Matching Concept**: Expenses should be matched with the revenues they help to generate in the same period.
5. **Economic Entity Concept**: Business transactions are separate from the personal transactions of its owners.
6. **Monetary Unit Concept**: Only transactions that can be measured in monetary terms are recorded.
7. **Time Period Concept**: Financial statements are prepared for specific periods of time, such as months or years.

Right Answer:
Deferred expenses are costs that have been paid in advance but will be recognized as expenses in future accounting periods.

Right Answer:
Dissolution of a firm refers to the process of closing down a business partnership or company, where the legal entity ceases to exist, and its assets and liabilities are settled among the partners or shareholders.

Right Answer:
Yes, banks face significant challenges from money laundering when attracting deposits. Money laundering can lead to reputational damage, regulatory penalties, and financial losses. Banks must implement strict compliance measures and due diligence processes to detect and prevent illicit activities, which can complicate their efforts to attract legitimate deposits.

Right Answer:
The fields used for Project Planning in MS Project include:

1. Task Name
2. Duration
3. Start Date
4. Finish Date
5. Predecessors
6. Resources
7. Percent Complete
8. Work
9. Cost
10. Milestones

Right Answer:
MS Project is used for project management to plan, schedule, and track project progress, allocate resources, manage budgets, and analyze workloads.

Right Answer:
To analyze data for different formats like pivot tables and matching datasets, you should:

1. **Identify Key Variables**: Determine the key fields that will be used for matching and pivoting.
2. **Clean the Data**: Ensure that the data is free from duplicates, errors, and inconsistencies.
3. **Use Pivot Tables**: Create pivot tables to summarize and analyze the data by aggregating values based on categories.
4. **Match Data**: Use functions like VLOOKUP or JOIN operations in SQL to match data from different sources based on the identified key variables.
5. **Validate Results**: Check the accuracy of the matched data and the pivot table outputs to ensure they meet business requirements.

Right Answer:
To depict dependency in MS Project, you can link tasks by selecting the tasks you want to connect, then clicking on the "Link Tasks" button in the toolbar or using the shortcut Ctrl + F2. This creates a finish-to-start dependency by default. You can also adjust the type of dependency (finish-to-start, start-to-start, finish-to-finish, or start-to-finish) by double-clicking on the task and modifying the "Predecessors" tab.

Right Answer:
Direct sale is a method of selling products or services directly to consumers without intermediaries, often through personal interactions, online platforms, or direct marketing.

Right Answer:
I want to join this bank because I admire its commitment to customer service and community involvement, and I believe my skills in communication and problem-solving can contribute to enhancing customer experiences.

Right Answer:
I would open a digital marketing agency because there is a growing demand for online presence among businesses, and I can leverage my skills to help them succeed.

Right Answer:
Customer service is the support and assistance provided to customers before, during, and after they purchase a product or service, ensuring their needs are met and issues are resolved.

Right Answer:
I would assess the situation, gather relevant information, and then take appropriate action to resolve the issue while ensuring clear communication with the customer.

Right Answer:
A pivot table is a data processing tool that summarizes and analyzes data in a spreadsheet, like Excel. You use it by selecting your data range, then inserting a pivot table, and dragging fields into rows, columns, values, and filters to organize and summarize the data as needed.

Right Answer:
Descriptive statistics summarize and describe the main features of a dataset, using measures like mean, median, mode, and standard deviation. Inferential statistics use sample data to make predictions or inferences about a larger population, often employing techniques like hypothesis testing and confidence intervals.

Right Answer:
Classification analysis is a data analysis technique used to categorize data into predefined classes or groups. It works by using algorithms to learn from a training dataset, where the outcomes are known, and then applying this learned model to classify new, unseen data based on its features. Common algorithms include decision trees, logistic regression, and support vector machines.

Right Answer:
Regression analysis is a statistical method used to examine the relationship between one dependent variable and one or more independent variables. It is used to predict outcomes, identify trends, and understand the strength of relationships in data.

Right Answer:
Supervised learning uses labeled data to train models, meaning the output is known, while unsupervised learning uses unlabeled data, where the model tries to find patterns or groupings without predefined outcomes.