1Z0-561 Online Practice Questions and Answers

In which conventions is currency rounded?

A) Truncate B) Round Up C) Round Down D) All the above

A. A and B

B. B and C

C. A and C

D. D

Which can be restricted for a facility?

A) Customers B) Branches C) Products D) Currencies

A. All

B. A, B and D

C. A, C and D

D. B, C and D

Oracle FLEXCUBE supports Special Rollover. The SROL event code gets triggered while initiating Special Rollover. Which events unfold when the Special Rollover is triggered?

A. change in the loan currency

B. reassignment of the loan customer

C. creation of a new loan with the same reference number as the original loan, and the waiver of any outstanding loan

D. A, B and C

In Oracle FLEXCUBE, every document that is required to be maintained is identified by a unique code called the Document Code. Which classification of the document can be maintained?

A) Transport B) Insurance C) Invoice D) Others

A. A, B, C and D

B. A, B and C

C. A and B

D. C and D

In Collateral Maintenance, what is the functionality of the "Sharing Required" option?

A. It enables a collateral to be shared among several liabilities.

B. It enables a user to define the share of lendable and nonlendable margin for a collateral.

C. It enables a user to define the guarantor's share in a collateral pool.

D. It enables many customer IDs to share the same Liability Number.

Which statements are true about Limits Revaluation in Oracle FLEXCUBE?

A) Limits Revaluation is done online as and when the Currency Exchange Rate changes.

B) Limits Revaluation is done as part of the EOD Batch Process.

C) Limits Revaluation Accounting entries are posted in the Limits Currency.

D) Limits Revaluation Accounting entries are posted in the Branch Local Currency.

A. A, B, C and D

B. A and C

C. B and C

D. B and D

A bank follows 01-Jan to 31-Dec as Accounting Cycle and follows Period Codes Jan, Feb,...till Dec. Which statement is true about Period Codes maintenance in Oracle FLEXCUBE?

A. 13 Period Codes only - Jan, Feb,...till Dec and FIN

B. 4 Period Codes only - Q01, Q02, Q03, and Q04

C. 5 Period Codes only - Q01, Q02, Q03, Q04, and FIN

D. 12 Period Codes only - Jan, Feb, ...till Dec

What is the formula for determining the Exchange Rate that is to be applied to a cross-currency transaction?

A. Exchange Rate = Mid Rate

B. Exchange Rate = Base Rate +/- customer spread

C. Exchange Rate = Buy Rate +/- customer spread

D. Exchange Rate = Base Rate + spread code

What are the Settlement Bridge GLs used for?

A. handling adjustment entries

B. handling multiple disbursement schedules

C. handling multiple modes of settlement

D. handling suspense entries

Which statements are true for User Role Maintenance?

A) User Roles can be deleted before the first authorization.

B) User Roles can be closed post-first authorization.

C) User Roles can be deleted any time.

D) User Roles contain list of Users and their corresponding Roles.

A. B, C and D

B. A, B and D

C. A and B

D. B and D

For a Charge Product with basis as Turnover, maintenance is done for charge amount given as follows:

Slab Tier Charge Rate 10,000 0.5% 25,000 1.5% 50,000 2.5%

If the turnover for an account is 33,000, which one is true?

A. 0.5% of 10,000 + 1.5% of 15,000 + 2.5% of 8,000 is the charge amount if Tier is applicable.

B. 1.5% of 33,000 is the charge amount if Tier is applicable.

C. 2.5% of 33,000 is the charge amount if Tier is applicable.

D. 15% of 25,000 + 2.5% of 8,000 is the charge amount if Tier is applicable.

Under which screen are the standard set of vendors in Expense Processing Contract maintained?

A. Vendor Maintenance screen

B. XP Product Preference screen

C. XP Bank Preference screen

D. XP Branch Preference screen

Oracle FLEXCUBE terminology, what do Product and Contract denote, respectively?

A. Account and Transaction

B. Banking Services and Offerings

C. Banking Services and Transaction

D. Account and Facility

What is possible regarding Ear Marking?

A. blocking of a Liability

B. blocking of a Facility Line

C. blocking of funds for a Liability

D. blocking of funds for a Facility

There can be Overage or Shortage of Cash while performing Retail Teller transactions. A bank can specify in which GL the Overage or Shortage should be booked by the teller. The Overage or Shortage GL can be maintained under which screen?

A. Arc Maintenance Screen

B. Retail Teller Product Screen

C. Till and vault Maintenance screen under Branch Parameters

D. Arc Maintenance Screen and Retail Teller Product Screen