Oracle 1Z0-561 Online Practice Questions and Exam Preparation

Oracle 1Z0-561 Online Questions & Answers

• Question 1:

  During Liquidation of Teller transactions, if the system detects insufficient funds in the account, the subsequent credit that happens to the settlement account needs to be blocked. How do you ensure this in the system?

  A. Enable Auto Liquidation.
  B. Enable Overdraft Facility.
  C. Enabled Track Receivable.
  D. Enable Cash GL posting.
  A. Enable Auto Liquidation.

• Question 2:

  What would be the outcome if an Outgoing Request for Debit is approved?

  A. Outgoing Payment
  B. Incoming Payment
  C. Outgoing Direct Debit
  D. Incoming Direct Debit
  B. Incoming Payment

• Question 3:

  There can be Overage or Shortage of Cash while performing Retail Teller transactions. A bank can specify in which GL the Overage or Shortage should be booked by the teller. The Overage or Shortage GL can be maintained under which screen?

  A. Arc Maintenance Screen
  B. Retail Teller Product Screen
  C. Till and vault Maintenance screen under Branch Parameters
  D. Arc Maintenance Screen and Retail Teller Product Screen
  B. Retail Teller Product Screen

• Question 4:

  The FX deals are revalued at the forward rate for the period from the revaluation date to the contract maturity date and the revaluation amount is adjusted for the present value. Which revaluation method has this characteristic?

  A. NPV
  B. Rebate
  C. Straight Line
  D. Discounted Straight Line
  B. Rebate

• Question 5:

  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.
  D. Branch User can amend customer account ACC1, visit I(Interest Button) and should choose Cale Account as ACC2 and Book Account as ACC1.

• Question 6:

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

• Question 7:

  A new User ID called TESTUSER was created. However, the Maker (the one who created the ID) deleted this User ID before it was authorized. Later, he/she realizes that the deleted record is needed. Which should the Maker do to get back the deleted ID?

  A. Fetch the deleted record from the User Definition screen and reopen the record.
  B. Fetch the deleted record and reverse the deletion.
  C. Fetch the deleted record and unlock and save the record.
  D. Create a new record with the User ID as TESTUSER.
  C. Fetch the deleted record and unlock and save the record.

• Question 8:

  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%.
  A. The system recalculates the interest for the current liquidation cycle.

• Question 9:

  Oracle FLEXCUBE has a modular architecture. A bank is replacing its old legacy system with Oracle FLEXCUBE. The bank currently uses Payments facilities only. It has a roadmap to support Trade Finance module after one year.

  Which statements are true regarding implementing Oracle FLEXCUBE?

  A) The bank has to implement all modules available in Oracle FLEXCUBE at the time of Go-Live.

  B) The bank can go live with Payments-related modules only.

  C) The bank can implement Trade Finance modules after one year on top of Payments-related modules by doing delta product parameterization for the Trade Finance modules.

  D) Bank can go live with Payments and Trade Finance modules. It will not be possible to plug in Trade Finance module post Go-live.

  A. B, C, D
  B. A and B
  C. B and C
  D. A and C
  C. B and C

• Question 10:

  A bank has entered into a USD Spot Deal with a customer on Monday, January 15 and there are no holidays during the week. On which date will the transaction be settled in the system?

  A. as per Spot days maintained in bank parameters screen
  B. as per Spot days maintained in branch parameters screen
  C. as per Spot days maintained in the Currency Pair Definition screen for USD
  D. as per Spot days maintained in the Currency Definition screen for USD
  D. as per Spot days maintained in the Currency Definition screen for USD