1Z0-561 Online Practice Questions and Answers

When is the "Year-end P/L Account" (specified at the Bank level) used?

A. when a particular GL is closed

B. when the GL to which year-end balances should be posted is not specified in Accounts

C. when all year-end transactions pertaining to Memo GL are to be posted

D. when previous year adjustment entries are to be posted

Oracle FLEXCUBE Branch Teller can perform multiple operations using the DD Teller screen. Which are valid Teller DD operations?

A) DD issue against GL B) DD issue against Walkin C) DD liquidation against GL D) DD sale against account

A. A, B and C

B. A, B, C and D

C. A and C

D. D

Which two types of Customer-to-liability linkage are supported in the system?

A. Multiple Liabilities linked to single customer

B. Single Liability linked to multiple customers

C. Single Liability linked to only one customer

D. Single Liability linked to single customer group code

In the Chart of Account Summary screen, a user needs to search a chart of account. However, the only search criterion available to the user is a part of the General Ledger description, which is "courier." The user, therefore, has to use a "wildcard" to search for the required Chart of Account. Which is the wildcard that is supported by the system?

A. % (percentage)

B. # (hash)

C. * (asterisk)

D. $ (dollar)

For a Debit Interest Product "DRIN" with monthly liquidation, the "Back-valued recalc" check box is selected. A rate "RATE01", used in the interest calculation, is maintained as follows:

Eff Date Rate% l-Jan-08 4 l-Feb-08 4.1

If today's date is 18-Feb-08 and the rate against l-Jan-08 is modified to 4.05, then what does the system do?

A. The system applies 4.1 for the current liquidation cycle but does not recalculate for the previous liquidation cycle.

B. The system applies 4.1 for the current liquidation cycle, recalculates the previous liquidation cycle at 4.05, and makes correction entries.

C. The system applies 4.05 for the current liquidation cycle but does not recalculate for the previous liquidation cycle.

D. The system applies 4.05 for the current liquidation cycle, recalculates the previous liquidation cycle at 4.05, and makes correction entries.

Which three preferences are available at the Account class level?

A. Limit Check

B. Passbook Facility

C. Frozen

D. ATM Facility

Oracle FLEXCUBE supports Multi Credit Transfer using Funds Transfer Module. Which features are part of Multi Credit Transfer?

A) Message is sent as MT 102 and MT203.

B) Maximum of 10 Contracts can be consolidated under a multicredit reference number.

C) Consolidated accounting reference number is to be entered by the user.

D) Field Multi Credit Transfer should be enabled at the Product and Branch level.

A. A, B and C

B. B, C and D

C. A, B and D

D. A, C and D

Roles are assigned to users. What type of relationship can a role and a user have in the system?

A. one-to-one only

B. one-to-many only

C. many-to-one only

D. many-to-many

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 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