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Oracle FLEXCUBE Universal Banking 12 Advanced Functional Implementation Essentials Sample Questions:

1. Which liability is reduced in the system on booking a bill under a Letter of Credit opened by a customer? (Choose the best answer.)

A) LC liability
B) Collection liability
C) Bill liability
D) Acceptance liability

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

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

3. Different events are triggered during the life cycle of an LC contract. Which event is triggered on issuance of an import LC t (Choose the best answer?)

A) BOOK
B) REIN
C) AVAL
D) BISS

4. Which statement is true about the Confirmation Tracer? (Choose the best answer)

A) it is a reminder sent to a reimbursing bank, seeking a letter of confirmation
B) His a reminder sent to a confirming bank, seeking a letter of confirmation.
C) ft is a reminder sent to a beneficiary, seeking a letter of confirmation.
D) it is a reminder sent to an issuing bank, seeking a letter of confirmation.

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 advance
C) acceptance to forfeiting
D) acceptance to discount

Solutions: