Question Overview: Look for a candidate who has the right skills and experience for the job. The applicant should be able to explain how they will use their strengths to help your company succeed.
Sample Answer: My greatest strength is my ability to work with people. I enjoy helping others find solutions to their financial problems.
Question Overview: The candidate should be able to assess the value of a product based on the customer's needs. He or she should be able to determine if the product will help the consumer and if it's a good fit for the individual's financial situation. The applicant should have experience with the product and understand how it works.
Sample Answer: I would assess the value of a product by determining if it would help the consumer meet his or her financial goals. I would also consider if the borrower could afford the product and if it was a good fit for their financial situation.
Question Overview: The candidate should be someone who understands the importance of the financial statements and how they affect the business. The financial statements are the most important documents for a credit analyst. They help the analyst determine if a borrower can afford to pay back a loan. The financial statements also help the analyst determine if a borrower can afford to pay back a loan.
Sample Answer: The balance sheet is the most important financial statement because it shows the company's assets and liabilities. It shows how much money is available to pay off debts.
Question Overview: The candidate should have a plan for their career and a goal for their future. The answer indicates that the person is motivated and has a long-term vision for their career. The candidate should also be able to explain how they will achieve their goals.
Sample Answer: I see myself as a senior analyst in your company in five years. I will continue to learn new skills and take on more responsibilities within the company.
Question Overview: The candidate should be someone who can remain calm and collect the facts before making a decision. He or she should be able to listen to the client's concerns and address them in a professional manner. The applicant should be someone who can resolve the issue and make the client feel comfortable with the decision.
Sample Answer: I remained calm when a customer confronted me about an error on their account. I listened to their concerns and explained the error in terms of our company's policies. I resolved the issue by correcting the error and making sure that they understood our policies.
Question Overview: Look for a candidate who can handle a difficult situation and resolve it in a professional manner. A credit analyst must be able to work with all types of people, including those who are difficult to deal with. The applicant should be able to work with the consumer and explain the financial situation in a way that helps the borrower understand the problem.
Sample Answer: I had to deal with a customer who was upset about his credit report. I explained that he had too many open accounts and that his debt-to-income ratio was too high for him to qualify for a mortgage loan. He didn't like my answer, but I explained the situation again and he understood the problem.
Question Overview: The candidate should be able to explain how leverage works and how it can be beneficial to a borrower. He or she should also be able to discuss a time when leverage was not a good idea.
Sample Answer: Leverage is the amount of money borrowed compared to the amount of money invested. For example, if you borrow $100,000 to invest in a business and the business earns $10,000 in profits, your return on investment is 10 percent. If you borrow $1 million and the business earns $100,000 in profits, your return on investment is 10 percent.
Question Overview: Look for a candidate who has a clear vision for their career and who has a plan to achieve their goals. A candidate who is willing to take on new challenges and responsibilities will help your company grow.
Sample Answer: I want to continue my education and earn a master's degree in business administration. I plan to apply for a position as a credit analyst at a larger financial institution.
Question Overview: The candidate should be someone who is honest and has a positive attitude. The applicant should be someone who is willing to work hard and learn new skills.
Sample Answer: I'm a hard worker who is willing to learn new skills and take on new challenges.
Question Overview: The candidate should be able to explain the difference between the two financial statements and know how to use them to determine the financial health of a company. The balance sheet shows the company's assets, liabilities and equity at a specific point in time. The income statement shows the company's revenues, expenses and net income over a period of time.
Sample Answer: The balance sheet shows the company's assets, liabilities and equity at a specific point in time. The income statement shows the company's revenues, expenses and net income over a period of time.
Question Overview: A candidate who is honest about his or her current salary will be more likely to be honest about other aspects of the job. A candidate who is willing to negotiate a higher salary shows that he or she is willing to work hard for your company and will be a valuable asset.
Sample Answer: I'm currently making $50,000 per year.
Question Overview: The candidate should be someone who will stand up for others and not allow a coworker to mistreat clients or other employees. The applicant should be someone who does not tolerate rude behavior and will report the incident to a supervisor.
Sample Answer: I would report the incident to a supervisor and let them handle the situation.
Question Overview: A candidate who understands the importance of creditworthiness and the role it plays in your business will understand that the first statement to look at is the company's balance sheet. The balance sheet shows the company's assets and liabilities, and it shows how much money the company has available to pay off its debts. The balance sheet also shows how much money the company owes to other businesses.
Sample Answer: I would look at the balance sheet first because it shows how much money the company has available to pay off its debts.
Question Overview: A candidate who knows the job duties and responsibilities will be more successful in the position. He or she will understand the job's requirements and be able to perform the tasks with ease. Look for someone who has experience in the industry and has worked in a similar position.
Sample Answer: I've worked as a credit analyst for two years at a financial institution. I know how to analyze consumer credit reports and determine their creditworthiness.
Question Overview: A candidate who understands his or her reasons for majoring in finance will be able to explain why he or she chose the field. A good answer will show that the candidate has a passion for the industry and a desire to succeed in it.
Sample Answer: I chose to major in finance because I wanted to work in a field that helps people. I enjoy helping others with their finances and making sure they're making smart decisions with their money.
Question Overview: The credit analyst must have a good working relationship with the dealer network to ensure that the company's loans are sold to the right customers. A candidate who understands the importance of the relationship will work with dealers to help them sell more loans and will help your company avoid costly charge-offs.
Sample Answer: I worked with our dealer network to help them sell more loans and to keep our company's loan portfolio strong.
Question Overview: A candidate who knows how to evaluate a borrower's creditworthiness and financial situation will help your company avoid risk. The applicant should understand how to conduct a thorough analysis of the consumer's income, debts and credit history. A candidate who understands how to calculate the debt-to-income ratio will help your company make the right decision about extending a loan.
Sample Answer: I looked at the borrower's income, debts and credit history before approving a loan. I also calculated their debt-to-income ratio to determine if they could afford the loan payments.
Question Overview: Look for a candidate who has experience with credit analysis and who can explain how they used their skills to help your company. The applicant should be able to explain the process they used to evaluate a borrower's creditworthiness and how they helped your company make a decision about extending a loan.
Sample Answer: I reviewed the borrower's credit history and financial data to determine if they had a steady income and could afford the loan. I also reviewed the borrower's debt-to-income ratio to determine if they had too many debts and presented a risk to our company.
Question Overview: A candidate who knows the company's history and mission statement and can explain how he or she will fit into the company's culture is a good fit. A candidate who doesn't know about the company's history or mission statement may not be familiar with the company's products or services.
Sample Answer: I've been a customer of your company for five years. I'm familiar with your products and services and believe I can contribute to your team.
Question Overview: The candidate should be able to identify their strengths and weaknesses and explain how they will overcome their weaknesses. A good answer shows that the candidate is honest and self-aware.
Sample Answer: I'm a fast learner and I'm good at problem solving. I know I need to work on my time management skills.