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1Z0-561 - Oracle FLEXCUBE Universal Banking 11 Basic Implementation Essentials - Dump Information

Vendor : Oracle
Exam Code : 1Z0-561
Exam Name : Oracle FLEXCUBE Universal Banking 11 Basic Implementation Essentials
Questions and Answers : 76 Q & A
Updated On : December 19, 2017
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1Z0-561 Questions and Answers


QUESTION: 66

What is the purpose of the "SI" button on the CIF screen?

  1. to add Standing Instructions
  2. to view Standing Instructions
  3. to add Settlement Instructions
  4. to view Settlement Instructions

Answer: B


QUESTION: 67

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?

  1. as per Spot days maintained in bank parameters screen
  2. as per Spot days maintained in branch parameters screen
  3. as per Spot days maintained in the Currency Pair Definition screen for USD
  4. as per Spot days maintained in the Currency Definition screen for USD

Answer: D


QUESTION: 68

Oracle FLEXCUBE has a modular architecture. A bank is replacing its old legacy system with Oracle FLEXCUBE. The bank currently uses Payments facilities only. It has a roadmap to support Trade Finance module after one year. Which statements are true regarding implementing Oracle FLEXCUBE?
  1. The bank has to implement all modules available in Oracle FLEXCUBE at the time of Go-Live.
  2. The bank can go live with Payments-related modules only.
  3. The bank can implement Trade Finance modules after one year on top of Payments- related modules by doing delta product parameterization for the Trade Finance modules.
  4. Bank can go live with Payments and Trade Finance modules. It will not be possible to plug in Trade Finance module post Go-live.

  1. B, C, D
  2. A and B
  3. B and C
  4. A and C

Answer: C


QUESTION: 69

An interest rule, CRIN, has a UD£ called RATE, with the following attributes: Floating rate RATE0l for product CRIN Account class ACCLASS1 Currency is USD
Also, product CRIN has monthly liquidation, at the end of month, and daily accrual. Valid rates for RATE01 for USD are maintained as follows:
Eff Date Rate 01-Jan-08 4%
15-Jan-08 4.5%
If today's date is 10-Jan-08 and the maintenance for l5-Jan-08 is closed today, what is true regarding interest calculation by the system?

  1. The system recalculates the interest for the current liquidation cycle.
  2. The system recalculates the interest for the current liquidation cycle and passes adjustment entries.
  3. The system does not calculate the interest for the current cycle from 15-Jan-08.
  4. The system continues to calculate interest for the account at 4%.

Answer: A


QUESTION: 70

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?

  1. Fetch the deleted record from the User Definition screen and reopen the record.
  2. Fetch the deleted record and reverse the deletion.
  3. Fetch the deleted record and unlock and save the record.
  4. Create a new record with the User ID as TESTUSER.

Answer: C


QUESTION: 71

What happens if a contract is marked for autoliquidation and the liquidation day turns out to be a holiday?

  1. The system liquidates the contract based on product-level parameters
  2. The system liquidates the contract based on contract-level parameters
  3. A user needs to liquidate the deal manually by invoking the Payment screen.

  4. The liquidation does not take place.

Answer: A


QUESTION: 72

A customer has two savings accounts ACC1 and ACC2. This customer has requested that interest should be computed in the respective accounts ACC1 and ACC2 but interest liquidation should happen only in the single account ACC2. How will this be implemented in Oracle FLEXCUBE?

  1. The interest needs to be manually transferred by Branch User from ACC1 to ACC2 using Journal Entry after the interest liquidation is done. Automatic interest liquidation movement from ACC1 to ACC2 belonging to the same customer will not be possible.
  2. Branch User can amend customer account ACC1, visit I(Interest Button) and should choose Cale Account as ACC2 and Book Account as ACC2.
  3. Branch User can amend customer account ACC1, visit I(Interest Button) and should choose Cale Account as ACC1 and Book Account as ACC2.
  4. Branch User can amend customer account ACC1, visit I(Interest Button) and should choose Cale Account as ACC2 and Book Account as ACC1.

Answer: D


QUESTION: 73

The FX deals are revalued at the forward rate for the period from the revaluation date to the contract maturity date and the revaluation amount is adjusted for the present value. Which revaluation method has this characteristic?

  1. NPV
  2. Rebate
  3. Straight Line
  4. Discounted Straight Line

Answer: B


QUESTION: 74

There can be Overage or Shortage of Cash while performing Retail Teller transactions. A bank can specify in which GL the Overage or Shortage should be booked by the teller. The Overage or Shortage GL can be maintained under which screen?

  1. Arc Maintenance Screen

  2. Retail Teller Product Screen
  3. Till and vault Maintenance screen under Branch Parameters
  4. Arc Maintenance Screen and Retail Teller Product Screen

Answer: B


QUESTION: 75

What would be the outcome if an Outgoing Request for Debit is approved?

  1. Outgoing Payment
  2. Incoming Payment
  3. Outgoing Direct Debit
  4. Incoming Direct Debit

Answer: B


QUESTION: 76

During Liquidation of Teller transactions, if the system detects insufficient funds in the account, the subsequent credit that happens to the settlement account needs to be blocked. How do you ensure this in the system?

  1. Enable Auto Liquidation.
  2. Enable Overdraft Facility.
  3. Enabled Track Receivable.
  4. Enable Cash GL posting.

Answer: A


Oracle 1Z0-561 Exam (Oracle FLEXCUBE Universal Banking 11 Basic Implementation Essentials) Detailed Information

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    Oracle Certification Exam Retirement

    The Oracle Certification Program plans to retire the certification paths and exams listed below. All Candidates pursuing a retiring certification path have until the retirement date specified to pass the retiring exam(s).
    Retiring Certification Exam Retirement Date Newer Version of Retiring Exam(these exams lead to the newer versions of certification noted in the table below, not the retiring certification paths) 1Z0-322 | Oracle Revenue Management and Billing 2 Implementation Essentials September 30, 2016 None 1Z0-413 | Oracle FLEXCUBE Universal Banking 12 Technical Implementation Essentials September 30, 2016 None 1Z0-415 | Oracle FLEXCUBE Universal Banking 12 Advanced Functional Implementation Essentials September 30, 2016 None 1Z0-422 | Oracle FLEXCUBE Islamic Banking 12 Implementation Essentials September 30, 2016 None 1Z0-423 | Oracle FLEXCUBE Direct Banking 12 Implementation Essentials September 30, 2016 None 1Z0-427 | Oracle Financial Services Analytical Applications Infrastructure 7 Technical Implementation Essentials September 30, 2016 None |Oracle Funds Transfer Pricing and Profitability Management 6 Functional Implementation Essentials September 30, 2016 None 1Z0-444 | Oracle Financial Crime and Compliance Management 6 Functional Implementation Essentials September 30, 2016 None 1Z0-490 | Oracle FLEXCUBE Universal Banking 12 Core Functional Essentials September 30, 2016 None 1Z0-538 |Agile Product Lifecycle Management 9 Essentials September 30, 2016 None 1Z0-535 | Primavera P6 Enterprise Project Portfolio Management Essentials September 30, 2016 1Z0-567 |Primavera P6 Enterprise Project Portfolio Management 8 Essentials 1Z0-572 | Oracle Retail Point-of-Service Technical Essentials September 30, 2016 None 1Z0-855 | Java SE 6 Developer Certified Master Assignment November 30, 2016 None 1Z0-857 | Java SE 6 Developer Certified Master Assignment for Resubmission November 30, 2016 None 1Z0-856 | Java SE 6 Developer Certified Master Essay November 30, 2016 None 1Z0-459 | Oracle Identity Governance Suite 11g Essentials January 28, 2017 1Z0-339 | Oracle Identity Governance Suite 11g PS3 Implementation Essentials 1Z0-578 | Oracle Transportation Management 6 Essentials January 31, 2017 None 1Z0-589 | Oracle Global Trade Management 6 Essentials January 31, 2017 None Retiring Certification Path Retirement Date Newer Version of Retiring Certification Path Oracle Revenue Management and Billing 2 Certified Implementation Specialist September 30, 2016 None Oracle FLEXCUBE Universal Banking 12 Technical Certified Implementation Specialist September 30, 2016 None Oracle FLEXCUBE Universal Banking 12 Advanced Functional Certified Implementation Specialist September 30, 2016 None Oracle FLEXCUBE Islamic Banking 12 Certified Implementation Specialist September 30, 2016 None Oracle FLEXCUBE Direct Banking 12 Certified Implementation Specialist September 30, 2016 None Oracle Financial Services Analytical Applications Infrastructure Technical 7 Certified Implementation Specialist September 30, 2016 None Oracle Funds Transfer Pricing and Profitability Management 6 Functional Certified Implementation Specialist September 30, 2016 None Oracle Financial Crime and Compliance Management 6 Functional Certified Implementation Specialist September 30, 2016 None Oracle FLEXCUBE Universal Banking 12 Core Functional Certified Implementation Specialist September 30, 2016 None Agile Product Lifecycle Management 9 Certified Implementation Specialist September 30, 2016 None Primavera P6 Enterprise Project Portfolio Management Certified Implementation Specialist September 30, 2016 Primavera P6 Enterprise Project Portfolio Management 8 Certified Implementation Specialist Oracle Retail Point-of-Service Certified Implementation Specialist September 30, 2016 None Oracle Certified Master, Java SE 6 Developer November 30, 2016 None Oracle Identity Governance Suite 11g Certified Implementation Specialist January 28, 2017 Oracle Identity Governance Suite 11g PS3 Certified Implementation Specialist Oracle Transportation Management 6 Certified Implementation Specialist January 31, 2017 None Oracle Global Trade Management 6 Certified Implementation Specialis January 31, 2017 None
    Will retakes of the retiring exams be allowed after the retirement date?
    No. Candidates who fail a retiring Oracle Certification Program exam will be able to retake the exam only BEFORE the retirement date. Candidates should keep in mind that there is a 14-day waiting period to retake an Oracle certification exam. Schedule your exam appointment to allow enough time to retake a failed exam should the need arise. Please see above for specific dates.
    Are there alternative certification paths for candidates who do not pass a retiring exam by the retirement date?
    An alternate path option would typically be a later version of a retiring credential or exam. We have listed these alternatives for you in the tables above.
    Will new versions of the certifications and or exams be released?
    Sometimes new versions of certifications will already be available or will be in the planning stages. Information specific to each retiring certification exam or path is posted in the table above.
    I have completed all the exams in my 10g DBA OCP path, but I have not yet completed training. Once I complete training and submit the course form, will I be able to obtain the certification?
    For any retiring 10g certification, you will have 6 months from the retirement date to complete the course submission form and provide details of your required training. After that time, it will not be possible to earn any Oracle Database 10g certification.
    Will I be able to request a printed copy of my certificate once my certification path has retired?
    You will be able to request a printed copy of your certificate for 30 days after your certification path has retired. After that, you can always download and print your eCertificate at certview.oraclem.

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    Find Out What Oracle Certified Specialist Exams Are Retiring Soon

    1Z0-535 | Primavera P6 Enterprise Project Portfolio Management Essentials Primavera P6 Enterprise Project Portfolio Management Certified Implementation Specialist September 30, 2016 1Z0-567 |Primavera P6 Enterprise Project Portfolio Management 8 Essentials ...


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