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

1. 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) REIN
B) AVAL
C) BOOK
D) BISS

2. Identify four Document Clause types that are available in the system for the LC module. (Choose four.)

A) invoice
B) others
C) transport
D) certificates
E) drafts
F) insurance
G) packing list

3. 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 whether the customer account is Savings or Current.
B) The account is debited.
C) it depends on the currency being purchased.
D) The account is credited.

4. Merchandise can be classified and maintained in Oracle FLEXCUBE. Where would you maintain the merchandise that is involved in a trade transaction with an underlying LC? (Choose the best answer.)

A) Merchandise code maintenance
B) INCO terms maintenance
C) Commodity Code maintenance
D) Documents maintenance

5. A Letter or Credit issue can be confirmed by a bank. Which bank confirms a Letter or Credit (Choose the best answer?)

A) the collecting bank
B) the advising bank
C) the paying bank
D) the confirming bank

Solutions: