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“Financial Planner related Frequently Asked Questions by expert members with professional career as Financial Planner. These list of interview questions and answers will help you strengthen your technical skills, prepare for the new job interview and quickly revise your concepts”



43 Financial Planner Questions And Answers

23⟩ Tell us is it possible for a company to show positive net income and still go bankrupt?

Absolutely. A company that's experiencing a deterioration of working capital (i.e. decrease in accounts payable, increase in accounts receivable) can show positive net income but be in financial trouble in the future. It's also possible to show positive net income while in financial trouble by manipulating financial statements (e.g. revenue recognition, expense recognition, etc.)

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24⟩ General Financial Planner Job Interview Questions

☛ Why do you want to work for us?

☛ What do you know about us specifically?

☛ What are your main motivations?

☛ Do you think technology has a role to play in this position?

☛ How will you keep ahead of the curve?

☛ What are your main strengths and weaknesses?

☛ Why are you perfectly suited to this role?

☛ Do you have any questions for us?

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25⟩ Tell me an example of a time you have delivered great customer service?

Ideally, you have some real work experience that you can talk about. Talk in some detail about what you did and why it was great. If you have no direct work experience then talk about an event where you helped a friend to resolve a problem and that these skills can be used in administration and customer care work.

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28⟩ Please explain what a cash flow statement is and how it works?

You'll want to start with net income and then proceed line by line through the major adjustments (depreciation, deferred taxes, and working capital changes) required to arrive at cash flow from operations. In your explanation you'll also want to mention the following:

☛ Capital expenditures, purchase of intangible assets, sale of real assets, and purchase/sale of investment securities to find cash flow generated from investing activies.

☛ Issuance/repurchase of dept, sale of equity, and payment of dividends to find cash flow from financing activites.

☛ Adding the cash flows from operating, investing and financing activities your able to come up with the total change in cash.

☛ By taking the cash balance at the beginning of the period and adjusting it for the total change in cash you arrive at the cash balance at the end of the period.

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29⟩ Explain me your Educational Background?

No hard-and-fast educational requirements exist for those planning to become financial planners. A person with a verifiable track record of investing success can land a financial planning job even if he was an art history major or has no college degree at all.

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30⟩ Why Should You Get This Position as Financial Planner?

Strong successfully fielded this question by going with her gut. “My response was out of my mouth before I knew it: ‘Because I'm smart,’” she recalls. She followed that up by outlining the positions she’d previously had that gave her the necessary skills for the job.

This question allows interviewers to see how you react when put on the spot, which happens to administrative assistants all the time, and how confident you are in your abilities.

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31⟩ What Are Your Favorite Movies?

You know how many random requests admins get each day, right? This question allows the interviewer to assess how you’ll deal with that.

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33⟩ Please explain what are your communication skills like?

Say that they are very good and that you can communicate well face-to-face, on the telephone and via the Internet on email. Tell us about a time in your professional career when you went out of your way to complete a task for someone else

Hopefully, you have some real experiences - but you may have forgotten them by now. Think back and try to recall a time that you may have helped somebody when they were under pressure or off sick.

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34⟩ Tell us what is a deferred tax asset and what is its purpose?

A deferred tax asset (as its name suggests) is when a company pays more in taxes to the IRS than they actually owe (as shown as an expense on their income statement). This is an asset because it can be used to offet future tax expense in the future. Deferred tax assets can result from differences in revenue recognition, expense recognition, and net operating losses.

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35⟩ Tell us what do you enjoy most/least about this type of work?

This is similar to the strengths/weaknesses questions - what you like least must be turned into a positive trait. Say that you enjoy the challenge of meeting deadlines and of working in a team environment. For what you like least, say that you do not like it when you see disorganised work and a poorly managed diary; you feel the need to help organise and manage the workload.

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36⟩ Tell me what do you think the difference is between a manager and a leader?

Finance managers must be able to plan, organize and coordinate the various moving parts of the finance department. A true leader, however, also connects people to the vision of their organization and empowers them to achieve it. A leader is transformative, establishes a culture of continuous improvement and inspires those around them.

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37⟩ Do you know what is goodwill and how is it accounted for?

Goodwill is an intangible asset that is defined as the excess value of the purchase price over the fair market value (book value) of an acquired business. For example, if Walmart is sold for $100 billion with PP&E book value of $50 billion, equity of $30 billion, and debt of $10 billion, then the goodwill paid for Walmart would be $30 billion--the total sales price ($100 billion) minus the book value (Assets-Liabilities) of $70 billion.

The organization acquiring Walmart would show a decrease in cash of $100 billion to finance the acquisition, an increase of $50 billion to PP&E, an increase of debt of $10 billion, and goodwill of $30 billion.

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39⟩ Explain me how do you feel about multitasking at work?

Multitasking is a necessary part of an administration job, so say that you enjoy multitasking and the challenge of ensuring that multiple functions and jobs are completed accurately and on time is part of what motivates you in your work.

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40⟩ Explain me do you have any skills such as shorthand/touch typing?

Ideally, you will be able to touch type well, so say yes to this. Shorthand is a dying art and fewer people are learning how to do this well. If you have the opportunity to learn it, then do so, because some managers like their administrators to be able to take down shorthand.

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