1Z0-561 Online Practice Questions and Answers

Which statements are true in regards to Change Class?

A) Different Association, Application and Liquidation events will be available.

B) Different Basic Amount Tags will be available.

C) Different Third-Party Types will be available.

D) Different User-Defined Fields will be available.

A. A and B

B. C and D

C. A and D

D. B and D

Which statements are true about Floating Interest Rate?

A) Floating Interest Rate has Effective Data associated with it.

B) Floating Interest Rate can be defined for a branch.

C) Floating Interest Rate has Currency associated with it.

D) Customer Group-specific Floating Interest Rate can be defined.

A. A, B and C

B. B, C and D

C. A, C and D

D. A, B, C and D

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)

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.

Which statements are true about Limits Revaluation in Oracle FLEXCUBE?

A) Limits Revaluation is done online as and when the Currency Exchange Rate changes.

B) Limits Revaluation is done as part of the EOD Batch Process.

C) Limits Revaluation Accounting entries are posted in the Limits Currency.

D) Limits Revaluation Accounting entries are posted in the Branch Local Currency.

A. A, B, C and D

B. A and C

C. B and C

D. B and D

Which statement is true about Revaluation?

A. Revaluation is done online as and when Currency Exchange Rates are defined in Oracle FLEXCUBE.

B. Revaluation Batch is run during EOD Batch as First batch process in the Post-EOTI stage.

C. Revaluation Batch is run during EOD Batch as Last batch process in the Post-EOTI stage.

D. Revaluation Batch is run during the Date Change Batch process.

Which three account types can be opened through an Account Class?

A. Nostro

B. Current

C. Saving

D. Term Loan

Which screen is used to enable/disable Password Expiry Notification?

A. Role Profile Definition

B. User Profile Definition

C. SMS Bank Parameters

D. Restricted Access screen

Which two statements are true regarding Vendor Maintenance?

A. The vendor has to be a customer of the bank.

B. The vendor may or may not be a customer of the bank.

C. The Vendor Code is unique across the bank.

D. One vendor can have multiple vendor codes for multiple services rendered.

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

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.

During the process of maintaining ICCF rules, the system checks for application of General rules (all branches, all currencies, and so on) and Specific rules (particular branch currencies and so on). Select the checks and the correct order in which they are done.

A. First - General rulesSecond - Specific rules

B. First - Specific rulesSecond - General rules

C. Only General rules are checked.

D. Only Specific rules are checked.

Where is the Routing mask (for clearing transactions) defined?

A. Bank Parameters

B. Clearing Products

C. Branch Parameters

D. ARC maintenance

The Interest, Oracle Commission, and Fees are handled using the ICCF Rule definition in Oracle FLEXCUBE. Which statements are true about ICCF?

A) Branch-specific ICCF is supported in Oracle FLEXCUBE B) Customer Group specific ICCF a supported in Oracle FLEXCUBE C) Currency-specific ICCF is supported in Oracle FLEXCUBE D) Country-specific ICCF is supported in Oracle FLEXCUBE

A. A, B, C, and D

B. A, B and C

C. A, B and D

D. A and C only

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.