1Z0-561 Online Practice Questions and Answers

Which definitions does Bank Parameter Maintenance allow?

A) Account Class Mask Definition B) CIF Mask Definition C) Product Mask Definition D) GL Mask Definition

A. A, B, C and D

B. A, B and C

C. A, B and D

D. B and D

Which project implementation phases are not applicable in case of a Oracle FLEXCUBE implementation at a greenfield bank?

A) PWT B) UAT C) Data Conversion D) Parallel run E) Database design

A. A and C

B. C and D

C. B and D

D. D. D and E

Which components are defined while customizing the product in Oracle FLEXCLUBE?

A) ICCF B) MIS C) Role-to-Head Mapping D) Revaluation E) Accounting Periods

A. A, B, D and E

B. A, B and D

C. A, B and E

D. A, B and C

What are the functionalities of the Sign Off and Exit buttons?

A. Sign Off helps the user change the branch whereas Exit logs the user out of the system.

B. Exit helps the user change the branch whereas Sign Off logs the user out of the system.

C. Sign Off helps the user log off a Module whereas Exit logs the user out of the system.

D. Sign Off brings the user to the "sign on" screen whereas Exit logs the user out of the system.

Oracle FLEXCUBE allows the match status to be Open, Suggested, or Closed. Which of these are true for a Suggested match status?

A) The suggested entries will be allowed for modification. B) The suggested record will be allowed for confirmation. C) The suggested entries' record can be rejected.

A. B and C

B. A and C

C. A

D. C

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

A bank owns 50 computer tables whose useful life has been set as 20 years; the depreciation method has been set as SLM. The bank wants to determine the residual value of these tables at the end of their useful life. What is the residual value?

A. 1

B. 0

C. almost 0

D. equal to the original cost of the new asset of the same type

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

An interest rule, CRIN, has a UD?called RATE, with the following attributes:

Floating rate RATE0l for product CRIN Account class ACCLASS1 Currency is USD

Also, product CRIN has monthly liquidation, at the end of month, and daily accrual. Valid rates for RATE01 for USD are maintained as follows:

Eff Date Rate 01-Jan-08 4% 15-Jan-08 4.5%

If today's date is 10-Jan-08 and the maintenance for l5-Jan-08 is closed today, what is true regarding interest calculation by the system?

A. The system recalculates the interest for the current liquidation cycle.

B. The system recalculates the interest for the current liquidation cycle and passes adjustment entries.

C. The system does not calculate the interest for the current cycle from 15-Jan-08.

D. The system continues to calculate interest for the account at 4%.

A customer has two savings accounts ACC1 and ACC2.

This customer has requested that interest should be computed in the respective accounts ACC1 and ACC2 but interest liquidation should happen only in the single account ACC2.

How will this be implemented in Oracle FLEXCUBE?

A. The interest needs to be manually transferred by Branch User from ACC1 to ACC2 using Journal Entry after the interest liquidation is done. Automatic interest liquidation movement from ACC1 to ACC2 belonging to the same customer will not be possible.

B. Branch User can amend customer account ACC1, visit I(Interest Button) and should choose Cale Account as ACC2 and Book Account as ACC2.

C. Branch User can amend customer account ACC1, visit I(Interest Button) and should choose Cale Account as ACC1 and Book Account as ACC2.

D. Branch User can amend customer account ACC1, visit I(Interest Button) and should choose Cale Account as ACC2 and Book Account as ACC1.