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Oracle FLEXCUBE Universal Banking 12 Advanced Functional Implementation Essentials Sample Questions:
1. An exporter intends to bid for a software project in another country. What kind of facility should the exporter avail of a bank in order to participate in the bidding? (Choose the best answer.)
A) Deposits
B) Letter of Credit
C) Indemnity
D) Guarantee
2. Which liability is reduced in the system on booking a bill under a Letter of Credit opened by a customer? (Choose the best answer.)
A) Collection liability
B) Acceptance liability
C) Bill liability
D) LC liability
3. Which three operations are not allowed for a product with the Discounted Straight Line method of revaluation? (Choose three.)
A) partial payment
B) limits tracking
C) rollover
D) cancellation
4. What is the maximum number of charges that can be attached to a Retail Teller product? (Choose the best answer.)
A) unlimited
B) four
C) five
D) three
5. Transfer of an LC can be performed in Oracle FLEXCUBE. Which statement is true about a transferable LC? (Choose the best answer)
A) 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
B) Change of parties is allowed for the old LC contract, as well as the new transferred LC contract
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:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: A,C,D | Question # 4 Answer: C | Question # 5 Answer: D |
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