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

1. Which two statements are true in defining a Reconciliation Class? (Choose two.)

A) indicate whether the matching type is Mirroring or Replication.
B) Incorporate many rules into a class.
C) Define the external account.
D) Match rule sequence is insignificant

2. Which three are methods of revaluation used in a foreign exchange product? (Choose three.)

A) Net Present Value
B) straight line
C) redonimation
D) rebate

3. Which two statements are true about a Reconciliation Class? (Choose two.)

A) Several rules constitute a Reconciliation Class.
B) a Reconciliation Class type is both Mirror and Replication.
C) a Reconciliation Class type can be Mirror or Replication.
D) a rule sequence number is entered manually for the rules that are attached to a Reconciliation Class.

4. Different parties are involved when an import LC is issued. Which group of parties are involved while booking an import LC transaction? (Choose the best answer)

A) the applicant and the issuing bank
B) the applicant and the advising bank
C) the applicant, the beneficiary, and the issuing bank
D) the applicant, the beneficiary, and the advising bank

5. A trade agreement stipulates that a seller is responsible for securing export clearance and for placing the goods on board a ship in the seller's country. From that point forward, the cost relating to the freight, transit insurance, and clearing of goods for import are the buyer's responsibility.
Which INCO term would suit this situation? (Choose the best answer.)

A) Free on Board (FOB)
B) Cost and Freight (CFR)
C) Cost, Insurance, and Freight (CIF)
D) Free Alongside Ship (FAS)

Solutions: