Career Q & A COMMERCE March, 2018

1.      What is Actuarial Science? What are the opportunities in this area?

Ans: Actuarial Science is the study of insurance. Now-a- days it is getting popularity due to awareness among the people in insurance sector. As well the banking sector was well developed with online transactions. It includes life insurance, health insurance, pension and retirement plans, risk management and general insurance. Commerce graduates have wide opportunities in this area and one can work as a freelancer as insurance agent.

2.      What is a Bank PO job? What are the opportunities?

Ans: A Bank Probationary Officer job is a position given to an employee at entry-level. The candidate has to work as a trainee with probationary period of 2 years. Commerce graduates are aptly suitable for this job and have to clear the written examination with interview.

3.      What is the work of a Bank PO?

Ans: It includes handling cash flow in the bank, daily functioning of bank, receiving customer complaints, supervising clerical works like files etc, Processing of loans, issuing ATM/Debit/Credit cards and checkbooks etc. After the completion of the probation period, the candidate will be promoted to Assistant manager, Branch Manager and General Manager etc.

4.      Why the Bank PO jobs are getting popularity?

Ans: It is because of many reasons. There is increased number of availability of graduates and so more unemployed, the are no consistent required vacancies in other sectors, lucrative salary, lifetime settlement (Indians generally prefer), Bank PO’s have some special consideration for loans and other perks, e-banking have generated more jobs, increased usage of money transactions in banks; so more work and more jobs, increased number of engineering graduates are opting for Bank PO exams etc. 

5.      What is Bank PO exam and what is the pattern of Bank PO Exam?

Ans: There are both Government and private sector banks and the PO exams will be conducted by both the sectors. IBPS, Institute of Banking Personnel Selection conducts the exams for various posts like Probationary Officer (PO), Recruitment for Rural Banks (RRB), Special Officer (SO). There are two stages, one is written exam and other is interview. Written exam has Preliminary Exam and Mains exam. The preliminary exam is for 1 hour time duration and has 100 marks along with sub divisions; Reasoning 35 marks, English 30 marks and Quantitative Aptitude 35 marks. The Mains exam is for 2 to 2 and half hours with 200 marks. It has Reasoning, Quantitative Aptitude, Numerical Ability, General Awareness, English/Hindi (Language paper), Computer Knowledge and Professional Knowledge. There will be negative marking for wrong answers by 1/4th of a mark i.e. 0.25.  Some of the popular exams are as follows SBI-PO Exam, ICICI Bank-PO Exam, IBPS-PO Exam, HDFC Bank-PO Exam and Axis Bank-PO Exam.

- By Prof. Zahoorullah.S.MD.