1Z0-561 Online Practice Questions and Answers

An MM Borrowing contract has been created. The contract value date is 0l-Jan-2010 and maturity date is 31-Mar-2010. The customer has approached the bank and requested for an extension of the contract with a maturity date of 02-Apr2010.

From which screen of the MM module, can the extension of this contract be performed?

A. MM Rollover screen

B. MM Contract Schedule screen

C. MM Value Dated Amendment screen

D. from all of these three screens

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

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

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

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.

When a product is created under CL, which components get populated by default?

A. Main_Int, Principal

B. Principal, Interest_Rate

C. Main_Int, Penal_Int

D. Internest_Rate, Total_Principal

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

Which statement defines the term Time Level during EOD operation?

A. Time Level which system generated accounting entries will be passed during EOD.

B. Time Level of the Head Office for EOD Reporting Purpose.

C. Time Level in Branch Parameter to prevent any business users from logging in to Oracle FLEXCUBE during EOD operation.

D. Starting EOD operation after Time Level crosses the Server Clock time.

Which maintenance is used to maintain accounting and charge details for combinations of product, customer, branch, and currency that will be applicable for Retail Teller non-instrument transactions?

A. ARC maintenance

B. IC maintenance

C. ICCF maintenance

D. Retail Teller transaction maintenance

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%.