1Z0-561 Online Practice Questions and Answers

In which depreciation method does the depreciation amount specified by the bank on a fixed asset does not remain constant throughout that asset's useful life?

A. SLM

B. WDV

C. Activity Depreciation Method

D. Sum of Digits Depreciation Method

A bank has ICCF Rule implemented to collect its processing charges, but due to regulation changes now it can no longer levy these charges on the transactions. What changes are required in Oracle FLEXCUBE to implement new requirement?

A. Amend the respective products and select the "Stop Application" flag in the Charge Definition screen.

B. Unlock the ICCF Rule and delink all the attached products.

C. Reverse the ICCF Rule.

D. Delete the ICCF Rule.

What is true about the CD module in Oracle FLEXCUBE?

A) You can manually roll over a Corporate Deposit at the contract level, even if Rollover is not allowed at the product level.

B) A corporate deposit can be created with the manual liquidation option selected, even if Auto Liquidation is set at the product level.

C) Only corporate type of customers are allowed to open a Corporate deposit.

D) Prepayment of PRINCIPAL is not allowed in Corporate Deposits as it constitutes a violation of the contract.

A. A, B, C and D

B. A, B and C

C. B and D

D. B

Which statement is true when the schedule type for a corporate deposit is capitalized?

A. All the interest components are capitalized.

B. All the interest and charge components are capitalized.

C. Only the main interest and main charge are capitalized.

D. Only the main interest is capitalized.

Which three relationship categories can be maintained through relationship maintenance?

A. Customer-to-Account

B. Customer-to-Customer

C. Customer-to-Group

D. Customer-to-Contract

How many user-defined fields can be embedded in a CIF screen?

A. 2

B. 4

C. 5

D. Any number

Which three conditions must be satisfied to effect netting contracts?

A. Contracts are linked to the same counterparty.

B. Contracts have the same value date.

C. Contracts have the same currency pair/currency.

D. Contracts have the same settlement amount in local currency

E. Contracts have the same booking date.

Which product type should be selected for setting up for utility bill payments?

A. Standing Payment Orders

B. Variable Payment Orders

C. Sweep Out Transactions

D. Standing Collection orders

A home loan is given at 10% fixed rate. The rate has to be increased to 11%. How is this done in the system?

A. by changing the value of rate in Loan Account UDEs

B. by amending the UDE value in the Value Dated Amendment screen

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

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

Oracle FLEXCUBE has a modular architecture. A bank is replacing its old legacy system with Oracle FLEXCUBE. The bank currently uses Payments facilities only. It has a roadmap to support Trade Finance module after one year.

Which statements are true regarding implementing Oracle FLEXCUBE?

A) The bank has to implement all modules available in Oracle FLEXCUBE at the time of Go-Live.

B) The bank can go live with Payments-related modules only.

C) The bank can implement Trade Finance modules after one year on top of Payments-related modules by doing delta product parameterization for the Trade Finance modules.

D) Bank can go live with Payments and Trade Finance modules. It will not be possible to plug in Trade Finance module post Go-live.

A. B, C, D

B. A and B

C. B and C

D. A and C