1Z0-561 Online Practice Questions and Answers

When is the "Year-end P/L Account" (specified at the Bank level) used?

A. when a particular GL is closed

B. when the GL to which year-end balances should be posted is not specified in Accounts

C. when all year-end transactions pertaining to Memo GL are to be posted

D. when previous year adjustment entries are to be posted

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

What is true about Dormancy Days in Account Class?

A. Mark Customer Account as Dormant as part of EOD batch process if there are no debit and credit transactions for the number of days maintained under Dormancy Days in Account Class.

B. Close Customer Account as part of EOD batch process if there are no debit and credit transactions for the number of days maintained under Dormancy Days in Account Class.

C. Automatically Tick No Debit and No Credit flag as part of EOD batch process if there are no debit are credit transactions for the number of days maintained under Dormancy Days in Account Class.

D. Mark the customer linked to the Customer Account as Dormant.

Which two types of Customer-to-liability linkage are supported in the system?

A. Multiple Liabilities linked to single customer

B. Single Liability linked to multiple customers

C. Single Liability linked to only one customer

D. Single Liability linked to single customer group code

A bank has purchased 25 computers. The bank needs to book these as assets and also specify the depreciation type for them. Which two depreciation types can the bank choose from?

A. Written Down Value

B. Straight Line Method

C. Accelerated Cost Recovery

D. Group Depreciation Method

What is the maximum number of retries allowed for Partial Liquidation action?

A. 99

B. 365

C. 999

D. 9999

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

Oracle FLEXCUBE terminology, what do Product and Contract denote, respectively?

A. Account and Transaction

B. Banking Services and Offerings

C. Banking Services and Transaction

D. Account and 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%.

What happens if a contract is marked for autoliquidation and the liquidation day turns out to be a holiday?

A. The system liquidates the contract based on product-level parameters

B. The system liquidates the contract based on contract-level parameters

C. A user needs to liquidate the deal manually by invoking the Payment screen.

D. The liquidation does not take place.