Oracle FLEXCUBE Universal Banking 12 Advanced Functional Implementation Essentials (1z1-415) Free Practice Test

Question 1

The status of an installment changes from Normal to Past Due Obligation. A bank wants to levy a charge of $5 USD on it. How can the charge be defined and levied?(Choose the best answer)

A. Define the charge as a component at the Product level and link it on the Loan Account Charges screen.

B. Define the charge as an UDE and link it at the Installment level status change

C. Define the charge as a component at the Product Component Class level and link it at the Account level status change.

D. Define the charge as a component at the Product Component Class level Default the component by mapping the Component Class to the Product and link the charge component at the Installment level status change.

Correct Answer: D

Question 2

Which statement is true about lodging export bills that are not under LC? (Choose the best answer.)

A. These are collection bills governed by URC 522. The system allows you to input and save any discrepancies noted for collection bills.

B. These are collection bills governed by URC 722. The system does not allow you to input and save any discrepancies noted for collection bills.

C. These are collection bills governed by URC 722. The system allows you to input and save any discrepancies noted for collection bills.

D. These are collection bills governed by URC 522. The system does not allow you to save a collection bill with discrepancies.

Correct Answer: C

Question 3

What does the system do when a future value dated deal is entered? (Choose the best answer.)

A. it does not pass accounting entries on the day of booking the contract.

B. it passes accounting entries on the day of booking the contract.

C. User defines accounting entries on the Value Date.

D. it does not book future dated accounting entries.

Correct Answer: A

Question 4

What does in-house cheque deposit refer to? (Choose the best answer.)

A. a bank depositing a cheque given by a customer of the bank into its own account

B. a customer of a bank depositing a cheque into a related customer's account D a customer of a bank depositing a cheque of the same bank belonging to another customer into the account

C. a customer of a bank depositing a cheque into the bank's GL account

Correct Answer: C

Question 5

Which two frequency types can you configure for revaluation in a foreign exchange product? (Choose two.)

A. daily

B. monthly

C. weekly

D. annually

Correct Answer: A,B

Question 6

Home loans are given at a fixed interest rate of 10%. The rate now must be increased to 11 %. How can this be done in the system? (Choose the best answer.

A. by amending the UDE value on the Value Dated Amendment screen

B. by changing the rate value in Loan Account UDEs

C. by changing the interest rate on the UDE values screen

D. by unlocking the loan account and changing the value on the Interest tab

Correct Answer: C

Question 7

During liquidation of Teller transactions, if the system detects insufficient funds in an account, the subsequent credit that happens to the settlement account needs to be blocked. How is this achieved in the system? (Choose the best answer.)

A. by enabling the overdraft facility

B. by enabling cash GL (General Ledger) posting

C. by enabling track receivable

D. by enabling auto liquidation

Correct Answer: C

Question 8

Merchandise can be classified and maintained in Oracle FLEXCUBE. Where would you maintain the merchandise that is involved in a trade transaction with an underlying LC? (Choose the best answer.)

A. Documents maintenance

B. Merchandise code maintenance

C. INCO terms maintenance

D. Commodity Code maintenance

Correct Answer: D

Question 9

What happens if a contract is marked for auto liquidation and the liquidation day turns out to be a holiday? (Choose the best answer.)

A. The system liquidates based on the product-level parameters.

B. The liquidation does not take place.

C. The system liquidates based on the contract-level parameters.

D. The user liquidates the deal manually by invoking the payment screen.

Correct Answer: C

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Oracle FLEXCUBE Universal Banking 12 Advanced Functional Implementation Essentials (1z1-415) Free Practice Test