1Z0-561 Online Practice Questions and Answers

When is the "Year-end P/L Account" (specified at the Bank level) used?

A. when a particular GL is closed

B. when the GL to which year-end balances should be posted is not specified in Accounts

C. when all year-end transactions pertaining to Memo GL are to be posted

D. when previous year adjustment entries are to be posted

Which project implementation phases are not applicable in case of a Oracle FLEXCUBE implementation at a greenfield bank?

A) PWT B) UAT C) Data Conversion D) Parallel run E) Database design

A. A and C

B. C and D

C. B and D

D. D. D and E

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.

Product Parameterizations the basis for creation of:

A) Gold Copy Environment B) Play Data Environment C) Gold Copy and Data Migration Data for UAT D) Gold Copy and Final Migration Data for Go-Live

A. A, B, C and D

B. A, B and C

C. A, C and D

D. B, C and D

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

Which maintenance is used to maintain accounting and charge details for combinations of product, customer, branch, and currency that will be applicable for Retail Teller non-instrument transactions?

A. ARC maintenance

B. IC maintenance

C. ICCF maintenance

D. Retail Teller transaction maintenance

During the process of maintaining ICCF rules, the system checks for application of General rules (all branches, all currencies, and so on) and Specific rules (particular branch currencies and so on). Select the checks and the correct order in which they are done.

A. First - General rulesSecond - Specific rules

B. First - Specific rulesSecond - General rules

C. Only General rules are checked.

D. Only Specific rules are checked.

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

A bank has entered into a USD Spot Deal with a customer on Monday, January 15 and there are no holidays during the week. On which date will the transaction be settled in the system?

A. as per Spot days maintained in bank parameters screen

B. as per Spot days maintained in branch parameters screen

C. as per Spot days maintained in the Currency Pair Definition screen for USD

D. as per Spot days maintained in the Currency Definition screen for USD

A new User ID called TESTUSER was created. However, the Maker (the one who created the ID) deleted this User ID before it was authorized. Later, he/she realizes that the deleted record is needed. Which should the Maker do to get back the deleted ID?

A. Fetch the deleted record from the User Definition screen and reopen the record.

B. Fetch the deleted record and reverse the deletion.

C. Fetch the deleted record and unlock and save the record.

D. Create a new record with the User ID as TESTUSER.