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Oracle FLEXCUBE Universal Banking 12 Advanced Functional Implementation Essentials Sample Questions:
1. In a particular depreciation method, the amount of depreciation provided by a bank on a fixed asset remains constant throughout the useful life of the asset. Which is this method? (Choose the best answer)
A) activity depreciation method D sum of digits depreciation method
B) written down value
C) straight line method
2. Merchandise can be classified and maintained in Oracle FLEXCUBE. Where would you maintain the merchandise that is involved in a trade transaction with an underlying LC? (Choose the best answer.)
A) INCO terms maintenance
B) Commodity Code maintenance
C) Merchandise code maintenance
D) Documents maintenance
3. A Letter of Credit with tenor as sight stipulates that the reimbursement of bills submitted under this Letter of Credit can be claimed immediately after negotiation of documents.
Which SWIFT message is generated by the system for claiming this reimbursement? (Choose the best answer)
A) MT747
B) MT752
C) MT742
D) MT740
4. Which two statements are true about a Reconciliation Class? (Choose two.)
A) a rule sequence number is entered manually for the rules that are attached to a Reconciliation Class.
B) Several rules constitute a Reconciliation Class.
C) a Reconciliation Class type can be Mirror or Replication.
D) a Reconciliation Class type is both Mirror and Replication.
5. What benefit does an exporter get when asking for a documentary credit (LC) to be confirmed by the advising or negotiating bank? (Choose the best answer.)
A) There is no benefit. LC confirmation is a practice that banks follow to earn more revenue.
B) Confirmation of the LC removes all discrepancies in the documents submitted.
C) Confirmation of the LC ensures that the goods that are exported are of very high quality.
D) After confirming the LC, the advising or negotiating bank will pay or promise to pay against presented documents, which after checking are found to be as
Solutions:
Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: B,C | Question # 5 Answer: D |