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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) Guarantee
B) Indemnity
C) Letter of Credit
D) Deposits

2. What does the product type "b" on the Lc product Definition screen stand for? (Choose the best answer.)

A) Standby LC
B) Usance payment LC
C) Shipping Guarantee
D) Reimbursement type LC
E) Secured LC

3. In which three fields must data be identical for the system to pass consolidated accounting entries for Multi Credit Transfer? (Choose three.)

A) ordering i institution
B) receiver
C) Rate as of Date
D) Product Code

4. If an Outgoing Request for a debit transaction is approved, what would it result in? (Choose the best answer.)

A) incoming payment C outgoing direct debit
B) outgoing payment
C) incoming direct debit

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: