Sweep Accounts Interview Preparation Guide
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Sweep Account Frequently Asked Questions in various Sweep Accounts Interviews asked by the interviewer. So learn Sweep Account with the help of this Sweep Accounts Interview questions and answers guide and feel free to comment as your suggestions, questions and answers on any Sweep Accounts Interview Question or answer by the comment feature available on the page.

18 Sweep Accounts Questions and Answers:

1 :: What is Sweep Account?

A sweep account is actually a combination of two or more accounts at a bank or financial institution. It is useful in managing a steady cash flow between a cash account where scheduled payments are made from and an investment account where the cash is able to accrue a higher return.

2 :: Explain what is the cost sheet?

Cost sheet is a statement of cost for a product for given period of time.

3 :: What are the methods used to allocate support costs?

Headcount or number of pc's per cost center.

4 :: Explain the variable costs?

Variable costs are those that are directly proportionate with the quantity of production and or directly associated with the service.

Variable costs are the costs that change depending on how many products you sell or how many services you provide.

5 :: Explain the difference between Expenses and Expenditure?

The difference between expenses and expenditure. Expense is the outflow from a profit oriented organization while expenditure is the outflow from non-profit organization.

6 :: Explain CMM?

CMM is an internationally recognized standard for measuring the maturity of an organization's software development processes and has become the primary benchmark multinational corporations use to judge IT service providers ' abilities to deliver high quality software. Bleum is now one of only a few companies in China to be assessed SEI CMM Level 5.

The Capability Maturity Model (CMM) was developed under the guidance of the Software Engineering Institute (SEI) of Carnegie Mellon University in the U.S. It is organized into five maturity levels with SEI CMM Level 5 being the highest. By operating at this high a CMM level, customers ' benefit from Bleum's ability to consistently deliver high quality software on schedule, which ultimately results in a lower total cost of software ownership due to less rework and easier maintenance.

7 :: Explain chargeback?

A process in the industry where a wholesaler requests an amount that is the difference between the manufacturer's price to the wholesaler and the contract price to the resale customer.

The actual chargeback occurs when the wholesaler sells the manufacturer's product at contract price that is below wholesaler acquisition cost (WAC).

Especially evident in pharmaceutical industry.
In electronic commerce, a charge back is a reversal of a credit card transaction, which is usually initiated by the card issuer as requested by the cardholder. It may also be requested by the merchant. Charge backs usually occur due to fraudulent activity on the card (real or perceived), due to customer disputes, or from other authorization issues.

8 :: What you know about the cost sheets?

Cost sheet consists of the direct and indirect expenses incurred in producing a given product and classifying the expenses incurred according to office, administration, selling and distribution overheads.

9 :: Explain marginal cost?

Marginal Cost (MC):
The marginal cost of an additional unit of output is the cost of the additional inputs needed to produce that output. More formally, the marginal cost is the derivative of total production costs with respect to the level of output.

Marginal cost and average cost can differ greatly. For example, suppose it costs $1000 to produce 100 units and $1020 to produce 101 units. The average cost per unit is $10, but the marginal cost of the 101st unit is $20

The EconModel applications Perfect Competition and Monopoly emphasize the roles of average cost and marginal cost curves. The short movie Derive a Supply Curve (40 seconds) shows an excerpt from the Perfect Competition presentation that derives a supply curve from profit maximizing behavior and a marginal cost curve.

10 :: What are expenses in Sweep Accounts?

Expense is the outflow from a profit oriented organization.