1Z0-561 Online Practice Questions and Answers

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.

A bank has ICCF Rule implemented to collect its processing charges, but due to regulation changes now it can no longer levy these charges on the transactions. What changes are required in Oracle FLEXCUBE to implement new requirement?

A. Amend the respective products and select the "Stop Application" flag in the Charge Definition screen.

B. Unlock the ICCF Rule and delink all the attached products.

C. Reverse the ICCF Rule.

D. Delete the ICCF Rule.

Oracle FLEXCUBE supports Special Rollover. The SROL event code gets triggered while initiating Special Rollover. Which events unfold when the Special Rollover is triggered?

A. change in the loan currency

B. reassignment of the loan customer

C. creation of a new loan with the same reference number as the original loan, and the waiver of any outstanding loan

D. A, B and C

Which statements are true about Holiday Maintenance in Oracle FLEXCUBE?

A) Oracle FLEXCUBE supports Head Office-level Local Holiday Maintenance and the same is applicable to all branches reporting to the Head Office.

B) Oracle FLEXCUBE supports Regional Office-level Local Holiday Maintenance and the same is applicable to all branches reporting to this Regional Office.

C) Oracle FLEXCUBE supports Branch-level Local Holiday Maintenance.

D) Oracle FLEXCUBE supports Currency Holiday Maintenance from Head Office only.

A. A, C and D

B. A, B, C and D

C. A and D

D. C and D

For a Debit Interest Product "DRIN" with monthly liquidation, the "Back-valued recalc" check box is selected. A rate "RATE01", used in the interest calculation, is maintained as follows:

Eff Date Rate% l-Jan-08 4 l-Feb-08 4.1

If today's date is 18-Feb-08 and the rate against l-Jan-08 is modified to 4.05, then what does the system do?

A. The system applies 4.1 for the current liquidation cycle but does not recalculate for the previous liquidation cycle.

B. The system applies 4.1 for the current liquidation cycle, recalculates the previous liquidation cycle at 4.05, and makes correction entries.

C. The system applies 4.05 for the current liquidation cycle but does not recalculate for the previous liquidation cycle.

D. The system applies 4.05 for the current liquidation cycle, recalculates the previous liquidation cycle at 4.05, and makes correction entries.

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

Under which screen are the standard set of vendors in Expense Processing Contract maintained?

A. Vendor Maintenance screen

B. XP Product Preference screen

C. XP Bank Preference screen

D. XP Branch Preference screen

Which statement defines the term Time Level during EOD operation?

A. Time Level which system generated accounting entries will be passed during EOD.

B. Time Level of the Head Office for EOD Reporting Purpose.

C. Time Level in Branch Parameter to prevent any business users from logging in to Oracle FLEXCUBE during EOD operation.

D. Starting EOD operation after Time Level crosses the Server Clock time.

The Interest, Oracle Commission, and Fees are handled using the ICCF Rule definition in Oracle FLEXCUBE. Which statements are true about ICCF?

A) Branch-specific ICCF is supported in Oracle FLEXCUBE B) Customer Group specific ICCF a supported in Oracle FLEXCUBE C) Currency-specific ICCF is supported in Oracle FLEXCUBE D) Country-specific ICCF is supported in Oracle FLEXCUBE

A. A, B, C, and D

B. A, B and C

C. A, B and D

D. A and C only

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.