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

1. Events and accounting entries are define in the product definition, i ne accounting entries in events are not mandatory tor a configured bi Product. A business user updates the Contract status manually to amend the payment status for the contracts under this SI Product.
Which SI Product is used to book a Contract to track only the payment status? (Choose the best answer.)

A) Variable Payment
B) Sweep (in and out)
C) Collection
D) Payment

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

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

3. Identify the SWIFT message that the system generates on successful creation of an LC
contract. (Choose the best answer.)

A) MT700
B) MT760
C) MT710
D) MT734

4. Select two true statements about Liquidation mode. (Choose two.)

A) Liquidation mode can be Auto or Manual. If the Liquidation mode is Auto, it is applicable for all components of a product and can not be changed at the Loan account level.
B) if Liquidation mode is other than Auto or Manual, it can be set at the component level and can be changed at the Loan account level.
C) Liquidation mode can be Auto or Manual. If Liquidation mode is Auto, it is applicable for all components of a product and can be changed at the Loan account level
D) Liquidation mode can be Auto or Manual If Liquidation mode is Manual, it is applicable for all components of a product and cannot be changed at the Loan account level.

5. Transfer of an LC can be performed in Oracle FLEXCUBE. Which statement is true about a transferable LC? (Choose the best answer)

A) Change of parties is allowed for the old LC contract, as well as the new transferred LC contract
B) It is not possible to initiate the transfer of an LC to more than one secondary beneficiary on behalf of the primary or original beneficiary
C) A transferred LC can be transferred at the request of a second beneficiary to any subsequent beneficiary.
D) a transferable LC is where, at the request of a beneficiary (first beneficiary), the LC is made available in whole or in part to another beneficiary (second beneficiary)

Solutions: