Oracle 1Z0-561 Online Practice Questions and Exam Preparation

Oracle 1Z0-561 Online Questions & Answers

• Question 31:

  Which components are defined while customizing the product in Oracle FLEXCLUBE?

  A) ICCF B) MIS C) Role-to-Head Mapping D) Revaluation E) Accounting Periods

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

• Question 32:

  Which three preferences are available at the Account class level?

  A. Limit Check
  B. Passbook Facility
  C. Frozen
  D. ATM Facility
  A. Limit Check
  B. Passbook Facility
  D. ATM Facility

• Question 33:

  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
  A. A and B

• Question 34:

  Which definitions does Bank Parameter Maintenance allow?

  A) Account Class Mask Definition B) CIF Mask Definition C) Product Mask Definition D) GL Mask Definition

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

• Question 35:

  What is the purpose of the "SI" button on the CIF screen?

  A. to add Standing Instructions
  B. to view Standing Instructions
  C. to add Settlement Instructions
  D. to view Settlement Instructions
  B. to view Standing Instructions

• Question 36:

  Which product type should be selected for setting up for utility bill payments?

  A. Standing Payment Orders
  B. Variable Payment Orders
  C. Sweep Out Transactions
  D. Standing Collection orders
  B. Variable Payment Orders

• Question 37:

  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 38:

  In which conventions is currency rounded?

  A) Truncate B) Round Up C) Round Down D) All the above

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

• Question 39:

  Which elements correspond to the System Data Element?

  A) Value Dated Balance B) Interest Day Basis from Currency Definition C) Interest Rate defined D) Interest Product Preference

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

• Question 40:

  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.