PDF Version DemoOracle FLEXCUBE Universal Banking 12 Advanced Functional Implementation Essentials Sample Questions:
1. Which two statements are true in defining a Reconciliation Class? (Choose two.)
A) Match rule sequence is insignificant
B) Incorporate many rules into a class.
C) Define the external account.
D) indicate whether the matching type is Mirroring or Replication.
2. 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) 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
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) There is no benefit. LC confirmation is a practice that banks follow to earn more revenue.
3. Which statement is true about the Confirmation Tracer? (Choose the best answer)
A) ft is a reminder sent to a beneficiary, seeking a letter of confirmation.
B) it is a reminder sent to a reimbursing bank, seeking a letter of confirmation
C) His a reminder sent to a confirming bank, seeking a letter of confirmation.
D) it is a reminder sent to an issuing bank, seeking a letter of confirmation.
4. What happens to a customer account when a transaction is of type "foreign exchange purchase against account?" (Choose the best answer.)
A) it depends on the currency being purchased.
B) The account is credited.
C) The account is debited.
D) it depends on whether the customer account is Savings or Current.
5. The operation code "acceptance" is applicable for both export and import bills For the operation code "acceptance,1' identify the change of operation that is applicable only for import bills. (Choose the best answer.)
A) acceptance to purchase
B) acceptance to forfeiting
C) acceptance to advance
D) acceptance to discount
Solutions:
| Question # 1 Answer: B,C | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: C |
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