Congratulations on getting the Premera Actuarial Analyst interview. The next step is acing the interview process comfortably.
Preparation is a crucial ingredient for a successful interview. The better you prepare, the higher your chances of success. Having a good interview practice question is paramount to passing the interview, and the Premera Actuarial analyst Interview is no exception.
Premera actuarial analyst interview questions usually access candidates who can exhibit extraordinary critical thinking and communication skills. In addition, they aim to address candidates with good knowledge of statistical skills and software
If you’re searching for Premera actuarial analyst Interview questions, then you have come to the right place. We’ll provide you with comprehensive practice questions to ace your interview.
Premera Actuarial Analyst Possible Interview Questions And Answers
- Why do you want to work for Premera?
Give convincing reasons for why you admire the company. Your answer should reflect personal reasons, ambition, motivation and research you’ve done on the company while linking it to your long-term career growth. Be honest with your answers and avoid exaggeration. The interviewer will notice if you’re being disingenuous.
- Describe the role of an actuarial analyst in an insurance company.
This is one of the general questions which interviewers start the interview with. This question aims to determine what you believe your responsibilities are and provide additional details about you to the interviewer. Your answer should be similar to your elevator pitch, where you demonstrate your craft.
E.g. “An actuarial analyst in an insurance company is responsible for analyzing particular risk factors for events which influence the company’s client. He utilizes statistical analysis and modeling to perform his task. He analyses events such as injury and death, natural disasters, accidents, and other events covered by the company.”
- What do you think are the essential skills an actuarial needs?
Another general question asks at the early stage of interviews. The interviewer uses your answer to gauge the skills you feel are essential while assuming you have these same skills. It is also an opportunity for you to direct the conversation to areas you are comfortable with. However, expect the interviewer to ask follow-up questions about the skills you mention.
How to answer.
The essential skills required of an actuarial analyst include proficiency in mathematics and statistics concept, a decent knowledge of business and finance, programming skills in spreadsheets, databases, and statistical analysis programs.
Non-Technical skills like good problem-solving, strong communication and presentation skills are a necessity too
- Explain what you enjoy about working as an actuary.
Answer this question to show your enthusiasm and passion for the job. The interviewer usually asks this question to be certain your expectations align with the position advertised. Example: “Firstly, I derive joy in analyzing data to determine patterns and make assumptions. It’s pretty rewarding when my assumptions are derived from the real world. I also enjoy the flexibility the job offers. It provides me with the luxury to work in various industries and make an impact on business and the lives of people.
- Describe what an actuarial report is and its function.
This is an operational question to examine your knowledge of procedures involved in actuary work. The interviewer asks this to shift from general to more specific technical and operational questions.
How to answer.
“An actuarial report consists of numerous items, some of which include the current and future condition of industry reserves fund. The information enables companies to assess if reserves meet the expectations of the people that manage the funds. The report usually provides an assessment of conditions and risk that have an impact on it if it’s related to a particular risk.”
- Explain the merits and demerits of some actuarial software you’ve worked with.
Most actuarial duties are dependent on technological software. The interviewer might ask this question to clarify whether you are proficient in technological software. state at least three software programs you’ve used in your previous work and your experiences with them. You can consider researching the company’s software to tailor your answer to fit it perfectly.
- What relevant work experience do you have in this career field as an Actuarial Analyst?
- Mention work experiences that are related to the position you’re applying for.
- Ensure the experience is relevant
- Don’t mention past experience that is not relevant to the position in question
- However, If you lack related work experience for the position, you can talk about previous experience that enabled you to develop the skills and knowledge for the position.
- Suppose you notice a mistake in a spreadsheet that you’ve already submitted. How do you handle the situation?
The clients will get incorrect information If you submit a spreadsheet that contains a mistake, and your problem-solving skills may be questioned. State the actions you’ll take to handle the situation by focusing on the effect on the company and client. E.g., “After noticing a mistake on the spreadsheet submitted, I would correct the error and create a new spreadsheet. I’d double-check the new spreadsheet created for any other errors. I will then communicate with the manager about the mistake then apologize to the client for the inconvenience I might have caused.
- How do you measure success?
There is no straightforward answer to the question. However, there may be numerous good ones. You can state that you set realistic but aggressive goals that propel you till you achieve them. You can also say that when client satisfaction is high or your boss is impressed with your projects. E.g. “I believe an institution of this size and magnitude has a sound strategic vision and business plan which I will use to set objectives to gauge myself.”
- Describe the vision of your perfect dream job?
Generally, the role you’re applying for should be your dream job or will be a stepping stone to that dream job. If it’s the latter, explain the elements of that position that you’re passionate about and will help to actualise the vision of that dream job. Talk about what your dream job will entail. The type of work environment, coworkers, vision, culture and management.
- Name five characteristics that describe you?
This question is a perfect chance for you to sell yourself well. While describing yourself, use buzzwords like eager, hard-working, persistent, collaborative, team player, strong-willed, friendly e.t.c
- What presentation skills do you possess as an Actuarial Analyst?
Ensure you tell a story that describes your presentation skills when presenting in front of many people. If you are bold enough, you can request to give a snippet of the presentation to the interviewer. This move will set you apart from the rest of the candidates.
Basic Interview Tips.
- Get to the interview venue early
- Make a draft of essential points you want to convey.
- Include skill set, experience and knowledge that are related to the position you’re applying for.
- Dress professionally for the interview.
- Be bold and confident. Always put on a grin.
It’s imperative to note that we do not guarantee specific questions that will be asked in the interview questions. We only provide possible questions based on our discretion and survey. We are not in any way affiliated with the company. We wish you well in your interview process.