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

1. Assume that the documents presented under a sight LC are not discrepant. When will the negotiating bank pay the exporter after presentation of these documents?

A) after obtaining confirmation from the LC issuing bank
B) within five working days
C) within two working days
D) immediately

2. For a revolving-in-time LC that was issued on January 1,2014 with a reinstatement frequency of 60 days, what would be the next reinstatement date? (Choose the best answer.)

A) February 28, 2014
B) March 1.2014
C) March 2. 2014
D) None. LCs cannot revolve in time.

3. The operation code "acceptance" is applicable for both export and import bills For the operation code "acceptance,1' identify the change of operation that is applicable only for import bills. (Choose the best answer.)

A) acceptance to purchase
B) acceptance to forfeiting
C) acceptance to discount
D) acceptance to advance

4. Which statement is true about the Confirmation Tracer? (Choose the best answer)

A) it is a reminder sent to an issuing bank, seeking a letter of confirmation.
B) ft is a reminder sent to a beneficiary, seeking a letter of confirmation.
C) His a reminder sent to a confirming bank, seeking a letter of confirmation.
D) it is a reminder sent to a reimbursing bank, seeking a letter of confirmation

5. Identify the correct function ID to access the Bill Contract screen. (Choose the best answer)

A) BCDCONON
B) BCDTRONL
C) BCDCONOL
D) BCDTRNON

Solutions:

Question # 1 Answer: D

Question # 2 Answer: C

Question # 3 Answer: D

Question # 4 Answer: C

Question # 5 Answer: B