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Oracle 1Z0-561 Exam -

Free 1Z0-561 Sample Questions:

Q: 1
Which statements are true in regards to Change Class?
A) Different Association, Application and Liquidation events will be available.
B) Different Basic Amount Tags will be available.
C) Different Third-Party Types will be available.
D) Different User-Defined Fields will be available.
A. A. and B
B. C and D
C. A and D
D. B and D
Answer: A
Third Party types are only available if the ‘Charge Type’ is Third Party and this LOV (List of Values) usually has no record. User-Defined fields are only available were they are setup.

Q: 2
When is the "Year-end P/L Account" (specified at the Bank level) used?
A. when a particular GL is closed
B. when the GL to which year-end balances should be posted is not specified in Accounts
C. when all year-end transactions pertaining to Memo GL are to be posted
D. when previous year adjustment entries are to be posted
Answer: B
All P&L accounts should have the year-end GL specified when they are setup at Chart of account.
If it is not specified, at EOY when zeroing P&L system applies the year-end GL specified at branch parameters.

Q: 3
In which depreciation method does the depreciation amount specified by the bank on a fixed asset does not remain constant throughout that asset’s useful life?
C. Activity Depreciation Method
D. Sum of Digits Depreciation Method
Answer: A
Only two depreciation method exists in FA SLM and WDV

Q: 4
An MM Borrowing contract has been created. The contract value date is 0l-Jan-2010 and maturity date is 31-Mar-2010. The customer has approached the bank and requested for an extension of the contract with a maturity date of 02-Apr-2010.
From which screen of the MM module, can the extension of this contract be performed?
A. MM Rollover screen
B. MM Contract Schedule screen
C. MM Value Dated Amendment screen
D. from all of these three screens
Answer: C
All modifications to a contract that has financial implication (increase in principal, interest or change in maturity date) is done via the Value dated amendment screen.

Q: 5
What is true about Dormancy Days in Account Class?
A. Mark Customer Account as Dormant as part of EOD batch process if there are no debit and credit transactions for the number of days maintained under Dormancy Days in Account Class.
B. Close Customer Account as part of EOD batch process if there are no debit and credit transactions for the number of days maintained under Dormancy Days in Account Class.
C. Automatically Tick No Debit and No Credit flag as part of EOD batch process if there are no debit are credit transactions for the number of days maintained under Dormancy Days in Account Class.
D. Mark the customer linked to the Customer Account as Dormant.
Answer: A
An account is marked as dormant when there is no transaction (either DR or CR) in that account for the number of days specified as dormancy days in account class maintainance.

Q: 6
In which conventions is currency rounded?
A) Truncate
B) Round Up
C) Round Down
D) All the above
A. A and B
B. B and C
C. A and C
D. D
Answer: D
All the options are available for a user to pick from.

Q: 7
A bank has ICCF Rule implemented to collect its processing charges, but due to regulation changes now it can no longer levy these charges on the transactions.
What changes are required in Oracle FLEXCUBE to implement new requirement?
A. Amend the respective products and select the "Stop Application" flag in the Charge Definition screen.
B. Unlock the ICCF Rule and delink all the attached products.
C. Reverse the ICCF Rule.
D. Delete the ICCF Rule.
Answer: A
An interest or charge element in product that is already in use cannot be deleted. You only tick the check box ‘Stop application’ and it is no longer applied.

Q: 8
Which can be restricted for a facility?
A) Customers
B) Branches
C) Products
D) Currencies
A. All
B. A, B and D
C. A, C and D
D. B, C and D
Answer: B

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