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Oracle FLEXCUBE Universal Banking 12 Advanced Functional Implementation Essentials Sample Questions:

1. Back-to-back LC contracts can be handled in Oracle FLEXCUBE. Which statement is true about a back-to-back LC? (Choose the best answer.)

A) it is possible to enable the back-to-back flag only for an export LC.
B) An export LC can be linked to only one import LC.
C) All active and authorized export LCs are available for linkage, irrespective of different counter parties.
D) Amendment, cancellation, or close of an export LC that is linked to an import LC is not possible.

2. What happens to a customer account when a transaction is of type "foreign exchange purchase against account?" (Choose the best answer.)

A) it depends on the currency being purchased.
B) it depends on whether the customer account is Savings or Current.
C) The account is debited.
D) The account is credited.

3. A bank wants to charge depreciation tor an asset at the rate ot 20%, 30%, 25%, b%, and 20% tor the tirst year, second year, and so on till the last year How should you indicate this on the Depreciation Rule Mapping screen? (Choose the best answer.)

A) combination of rule-based and ad hoc
B) ad hoc
C) activity depreciation
D) rule-based

4. In which three fields must data be identical for the system to pass consolidated accounting entries for Multi Credit Transfer? (Choose three.)

A) Product Code
B) receiver
C) ordering i institution
D) Rate as of Date

5. A usance import bill that is not under a Letter of Credit has been received for 510,000 USD. The drawer has not made a payment for the bill. The drawer has requested the collecting bank (importer's bank) to protest on the drawer's behalf. What event should be attached to support this function'? (Choose the best answer.)

A) CLOS
B) PRNP
C) AMND
D) REFP

Solutions: