Underwriting specialist Interview Questions

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State Farm
Underwriting Service Assistant was asked...11 February 2016

1. What do you know about State Farm ? 2. Do you have any knowledge of what an Underwriting Assistant does ? 3. Give an example of when you had a difficult customer or coworker. How did you handle the situation and what was the outcome ? 4. Name an experience where you used multiple technologies. 5. Tell us about yourself. 6. Name a time where you lead a team and the details.

8 Answers

I have had IT experience for the past 15 years. I was looking forward to trying a new field within the insurance company and had hoped this position I applied for was entry level enough that I could be trained and get some experience. I will keep trying ! Less

All these interview questions are for interviews at State Farm. Does anyone have an answers from the questions? Less

I wish I knew also ! I didn't get the job so I either answered incorrectly, or didn't have the qualifications on my resume'. :( Less

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State Farm

describe a time you went above and beyond for a customer

4 Answers

Still says being reviewed by the hiring manager

Have you gotten an offer letter yet?

Update; I received confirmation of being selected for this position. The process started with me applying July 7th and finding out today, nearly a month after my person-to-person interview. Less

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Aetna

Math questions

3 Answers

What type of math questions? Did you need a calculator?

No you're not allowed to use a calculator. They're super easy...if you have 500 employees and 400 sign up for insurance what percent are insured Less

What type of math questions? Did you need a calculator?

Comerica

If a company agrees to purchase a service from your company next year, how would you book the accounting transaction?

3 Answers

Debit cash or AR then credit Unearned Revenue as a liability.

You wouldn't record anything because a promise isn't worth anything unlease one side completes their side of the agreement. In this example if the company were to give you a payment for a service next year then then you would book it as an unearned revenue under liabilities while the customer records it as a prepaid expense under assets Less

Having taken 2 basic accounting classes as an undergrad 6 years prior to the interview, I didn't really remember how to answer this question correctly. I assume this is the reason the interview process stopped after the phone interview. Less

State Farm

Be as detailed as possible with situations from previous employment.

3 Answers

I was invited to the face to face for the same position in richardson as well.

Were you invited for a face-to-face interview, or was everything handled by phone? Less

I have a question, I will be interviewing soon.....how many people did u interview with? Less

State Farm

Why should we pick you for the position?

2 Answers

I highlighted my strengths that coincided with the qualifications that they were looking for and spoke from my heart about my genuine desire to excel and grow within the organization. Less

How much is the salary for the position

Liberty Mutual Insurance

If you were given an assignment you know you cannot complete on time, what would you do?

2 Answers

I would confirm the deadline and what is required. Then confirm if the task is transferable. If that is not doable I would ask what is the priority of the task and if it is a hot button issue I would ask if my other task can be re-prioritized or given to another associate to complete. Less

I would solicit assistance from a team member to see if they had the capacity to complete the task; then I would alert my manager that I would not be able to complete the task by the deadline. However, I have asked So and so and they have the capacity to complete the task by such and such and then transfer the task. Less

State Farm

This was the first question: Please tell me about yourself.

2 Answers

Following STAR, I took the opportunity to discuss who I am. I followed information from my resume top down filling in potential gaps to further distinguish myself from others. Less

What does your status say on the careers site? Any offer yet?

Dwight Capital

Some ridiculous mind teaser - math question meant to stump you. Not hard but be ready to think on your toes

2 Answers

Dont remember but I made a joke and got it correct

Did you interview in January 2017 or January 2018? I applied for this job also through a recruiter and now I am weary. Please help! Less

Comerica

For a business wanting to take out a loan, what 3 financial equations would you use to decide if it was credit worthy or not?

2 Answers

Some stuff I found online about financial equations used in underwriting... (1) Debt to Equity Ratio = Monthly Debt Payments / Gross Monthly Income * basically calculates the ability to pay back loan * the smaller the ratio, the better (ideally below 37%)... the more income the client has to cover the debt payments, the better * GROSS means before-tax (2) Loan to Value Ratio = Loan Amount / Value of Collateral * if LTV ratio is outside of lender's parameters, a higher down payment could be required * using collateral could be less risky than something unsecured like a credit card * the higher the LTV, the riskier the loan is for the lender * sometimes institutions will still grant a loan with high LTV if prospective client has good credit score and mortgage history but will probably require insurance Still not sure what a Less

Some stuff I found online about financial equations used in underwriting... (1) Debt to Equity Ratio = Monthly Debt Payments / Gross Monthly Income * basically calculates the ability to pay back loan * the smaller the ratio, the better (ideally below 37%)... the more income the client has to cover the debt payments, the better * GROSS means before-tax (2) Loan to Value Ratio = Loan Amount / Value of Collateral * if LTV ratio is outside of lender's parameters, a higher down payment could be required * using collateral could be less risky than something unsecured like a credit card * the higher the LTV, the riskier the loan is for the lender * sometimes institutions will still grant a loan with high LTV if prospective client has good credit score and mortgage history but will probably require insurance Still not sure what a Less

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