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

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

2. Where should you configure Spot Days for deals? (Choose the best answer.)

A) in the Bank Level parameter
B) in the Currency Level parameter
C) in the foreign exchange Products Level parameter
D) in the Branch Level parameter

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

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

4. A Letter of Credit with tenor as sight stipulates that the reimbursement of bills submitted under this Letter of Credit can be claimed immediately after negotiation of documents.
Which SWIFT message is generated by the system for claiming this reimbursement? (Choose the best answer)

A) MT740
B) MT747
C) MT752
D) MT742

5. During liquidation of Teller transactions, if the system detects insufficient funds in an account, the subsequent credit that happens to the settlement account needs to be blocked. How is this achieved in the system? (Choose the best answer.)

A) by enabling cash GL (General Ledger) posting
B) by enabling track receivable
C) by enabling the overdraft facility
D) by enabling auto liquidation

Solutions: