Candidates may access the LIC HFL Junior Assistant Previous Year Interview Questions here, which will aid in their preparation. LIC Housing Finance Limited has issued a recruitment notification aimed at selecting qualified candidates for the position of Junior Assistant. The selection procedure includes an online examination followed by interview rounds. The online examination has been successfully concluded, and the results have been released. The LIC HFL Junior Assistant interview is planned for November 2024. We have compiled a list of LIC HFL Junior Assistant Previous Year Interview Questions, aimed at assisting candidates who are preparing for the upcoming interview. These questions are designed to familiarize you with the kinds of inquiries that you can expect in the interview. Utilizing the LIC HFL Junior Assistant Previous Year Interview Questions page to its fullest potential can significantly enhance your performance during the actual interview. This article allows candidates to better understand the nature of the questions that will be presented during the interview and provides a detailed account of the overall interview experience.

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LIC HFL Junior Assistant Previous Year Interview Questions

Candidates can check the LIC HFL Junior Assistant Interview Questions that were asked in the year 2019.

1. Tell us about yourself.

2. What did you do after graduation?

3. What did you do for the last 2 years?

4. How many exams did you clear? (If he/she appearing for the competitive exams)

5. Tell us about your family.

6. Is LIC HFL a private or public company?

Ans: LIC Housing Finance Limited (LIC HFL) is a Public Limited Company, established in 1989. It is a subsidiary of the Life Insurance Corporation of India (LIC).

7. Why do you want to join LIC HFL?

8. What is the Citizenship Amendment Bill?

Ans: The Citizenship Amendment Bill (CAB) was passed by the Indian Parliament in December 2019. This proposal aims to provide a means for certain religious minorities from neighboring nations to acquire Indian citizenship. 

9. What is GDP?

Ans: The GDP stands for Gross Domestic Product. It is a key economic indicator that measures the total monetary value of all finished goods and services produced within a country's boundaries over a specified period, which is generally measured annually or quarterly.

10. Tell us something different than what is written on the Wikipedia page. 

11. Tell us about your interest.

12. Can you convert your hobby into a profession?

13. Why you did not convert your hobby into your profession?

14. What are your strengths and weaknesses?

15. Some personal questions are asked.

16. Questions related to your degree subjects.

17. Questions related to work experience. If any they will ask your views on current issues etc.,

18. Tell me something about LIC HFL.

Ans: LIC Housing Finance Limited (LIC HFL) is a prominent housing finance company in India with a key objective of providing long term finance to individuals for the purchase or construction of house/flat for residential purposes in India. It was established in 1989 and is a subsidiary of the Life Insurance Corporation of India (LIC). 

19. What are the major products offered by LIC HFL?

Ans: LIC HFL provides a diverse range of products that are primarily centered on housing finance. The major products of LIC HFL include Home Loans, Home Improvement Loans, Construction finance loans, Land Purchase Loans, Loans against property (LAP), Commercial property loans, NRI Home Loans, Builder Loans, Griha Varishtha home loans, Griha Suvidha, and Top-Up Loans.

20. Who is the regulatory body of LIC HFL?

Ans: The regulatory body of LIC HFL is the National Housing Bank (NHB). 

21. Tell me something about NHB (National Housing Bank).

Ans: The National Housing Bank (NHB) is a key financial institution that emphasizes the promotion and regulation of housing finance. NHB was established in 1988 under the National Housing Bank Act. It holds the responsibility of supervising housing finance companies in India, guaranteeing their compliance with regulations and guidelines that aim to enhance housing finance across the country.

22. What is the major function of the NHB National Housing Bank?

Ans:

• NHB regulates and supervises housing finance companies (HFCs).
• It facilitates refinancing for housing finance institutions and banks.=> NHB serves a crucial function in the formulation of policies related to housing and housing finance.
• It promotes various schemes and initiatives focused on increasing the affordability of housing for families belonging to low and middle-income brackets.
• NHB engages in research and gathers data regarding trends in housing finance, thereby contributing to the formulation of policy decisions and the enhancement of industry practices.
• It aims to improve financial inclusion within the housing sector by providing access to housing finance for populations that are often underserved.

23. Tell me something about loans and types of loans. 

24. What are the types of housing loans in India?

Ans: The types of housing loans in India include Home loan, Home construction loan, Home extension loan, Home improvement loan, Home loan balance transfer, Top-Up Home Loan, Composite home loan, Plot loan, Short term bridge loa, Fixed and Floating Rate Loans.

25. What is a credit rating agency? And what are the main functions of it? 

Ans: A credit rating agency (CRA) is an institution that measures the creditworthiness of those who issue debt securities, such as corporations, governmental organizations, and municipalities. The main functions of CRAs are as follows.

• CRAs assess and assign credit ratings to borrowers based on their financial health, payment history, and economic conditions.
• Credit Rating Agencies conduct extensive research and analysis related to issuers and their financial instruments. This involves a detailed review of financial statements, an evaluation of market conditions, and an exploration of industry trends.
• Credit Rating Agencies (CRAs) play a crucial role in aiding investors to make informed investment decisions by providing ratings and reports that help evaluate the risk and return of different securities.
• The provision of consistent and standardized ratings by Credit Rating Agencies significantly contributes to market transparency, making it simpler for investors to evaluate various investment alternatives.
• CRAs regularly monitor the financial health of rated entities and have the capacity to modify ratings as circumstances evolve, including shifts in economic conditions or changes in the financial status of the issuer.
• Various regulatory frameworks require issuers to obtain ratings from reputable Credit Rating Agencies (CRAs), thus ensuring that investors can access reliable credit assessments.

26. What is CIBIL and what does CIBIL score indicate?

Ans: CIBIL, which stands for the Credit Information Bureau (India) Limited, is recognized as one of the foremost credit information agencies in India. It compiles and maintains records pertaining to the credit histories of individuals and businesses, which are then made available to lenders to facilitate the assessment of creditworthiness. The CIBIL score indicates a person's creditworthiness, derived from their credit history and financial behavior.

27. What is NPA and what are the types of NPA?

NPA stands for Non-Performing Asset, indicating loans or advances that are in default or are failing to generate income for the lender. That is, an asset is considered non-performing when the borrower fails to make interest or principal repayments on time.

The types of NPA are,

• Sub-Standard Assets
• Doubtful Assets
• Loss Assets

28. What are the roles and responsibilities of a junior assistant in LIC HFL?

Ans: A Junior Assistant in LIC HFL plays a vital role in maintaining seamless operations of the organization. Their roles and responsibilities include Clerical Duties, Customer Service, Financial Transactions, Support to Senior Officers, Document Verification, Office Management, and Marketing Activities. 

29. How is your experience going to help us in this role?

30. What is the SURFASI Act?

Ans: The SURFASI Act stands for the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, was established in India in the year 2002. The main objective is to enable the securitization of financial assets and the restructuring of these assets by establishing a legal framework that supports the enforcement of security interests.

31. What are the main functions of ARC and DRT?

Ans: Asset Reconstruction Companies (ARCs) and Debt Recovery Tribunals (DRTs) are integral components of the financial system, especially in the management and recovery of non-performing assets (NPAs). 

The main functions of ARC are,

• Acquisition of NPAs
• Restructuring Debt
• Asset Management
• Securitization
• Recovery Actions
• Resale of Assets

The main functions of DRT are,

• Expedited Recovery Process
• Adjudication of Claims
• Enforcement of Recovery Orders
• Facilitating Settlement
• Legal Framework

FAQs - LIC HFL Junior Assistant Previous Year Interview Questions

Q. Can I get the same questions that were asked in the previous year's LIC HFL Junior Assistant Interview?

Yes, you can get the same questions that were asked in the previous year's LIC HFL Junior Assistant Interview on this page. 

Q. When is the LIC HFL Junior Assistant Interview 2024 scheduled to be conducted?

The LIC HFL Junior Assistant Interview 2024 is scheduled to be conducted in November 2024.