AC - ACCOUNTS

AC - ACCOUNTS Question and Answers

Click TCCP HOME to visit other modules.

Please write back to t24geek@gmail.com for any new questions & corrections to keep this page updated for the community...!

Question: What is the difference between Customer type and Internal type of Accounts in T24?
1. Statement of accounts can be produced only for Customer type of Accounts	2. Only Internal accounts can be opened to represent Bank's own money	3. In Customer type of accounts, address of Customer is mandatory, while it is optional in internal accounts	4. Interest can be accrued by T24 only in the case of Customer type of accounts	5. Internal accounts are common across all companies. Customer accounts are not
Answer: Interest can be accrued by T24 only in the case of Customer type of accounts
Question: If a Bank desires to issue Statements instead of Passbooks for Savings accounts, how should it parameterise this in T24?
1. It should open Savings accounts as per definitions in ACCOUNT.CLASS with record Id of SAVINGS	2. It should open Savings account outside the Category code range of 6000 - 6999	3. This need not be parameterised as it is an automatic feature in T24. Only if passbooks are needed, then parameterisation required.	4. This is possible only if the Category code of underlying account is in the range of 6000 to 6999 and also in the range defined in ACCOUNT.CLASS with record Id of SAVINGS	5. This is not possible in T24
Answer: This need not be parameterised as it is an automatic feature in T24. Only if passbooks are needed, then parameterisation required.
Question: If a Bank wants to issue Passbooks instead of Statements, is it possible to do this in T24?
1. Possible only if the account is named as Savings accounts. Not possible if it is named Current account or any such name	2. Possible only if the Category code of underlying account is in the range of 6000 to 6499	3. Possible for any type of accounts as long as the accounts conform to settings defined in ACCOUNT.CLASS with record Id of SAVINGS	4. Possible only if the Category code of underlying account is in the range of 6500 to 6999	5. Possible for any type of account without any restriction
Answer: Possible for any type of accounts as long as the accounts conform to settings defined in ACCOUNT.CLASS with record Id of SAVINGS
Question: A Bank wants to change the Customer in an Account. The Category code of the account is within the Category range defined in ACCOUNT.PARAMETER. Will T24 allow this to be done?
1. T24 will not allow such a change as the Field CUSTOMER will become a No-input field after authorisation of any record in ACCOUNT	2. T24 will allow such a change as long as the new Customer was indicated earlier as a Liability Customer	3. T24 will allow such a change as long as the two Customers are related to each other and their relationship is defined in CUSTOMER application	4. T24 will allow such a change as long as the new Customer was indicated earlier as a Joint account holder	5. T24 will allow such changes without any further restriction
Answer: T24 will allow such a change as long as the new Customer was indicated earlier as a Joint account holder
Question: A Bank wants to change the nature of a Customer account from a Savings account into a Special savings account or Current account. All these types of accounts are indicated as Non contingent accounts in ACCOUNT.PARAMETER. Will T24 allow such change?
1. T24 will not allow such a change under any circumstance	2. T24 will allow such a change as long as the Category codes are within the range meant for such broad type. Like a Savings account can be changed as Special savings account but not a Current account	3. T24 will allow such a change as long as the account is not used as a liquidation account for any contract	4. T24 will allow such changes as long as the changes do not involve an All-in-one (AZ) type of Account	5. T24 will allow such a change as long as this account is not indicated as interest liquidation account of any other account
Answer: T24 will allow such changes as long as the changes do not involve an All-in-one (AZ) type of Account
Question: A Bank is moving into T24 from another system. It wants to change its Internal account number structure from a 5 digit number to a 7 digit number now. To avoid confusion, it would like to use the existing Account numbers also for old accounts and only new account numbers for the accounts opened after moving into T24. Can T24 handle such a situation ?
1. The bank can input the old 5 digit number in the MNEMONIC Field of ACCOUNT records and have a dual number system	2. The bank can input the old 5 digit number in the ALT.ACCT.ID Field of Account records and have a dual number system	3. The bank can input the old 5 digit number in the MNEMONIC and ALT.ACCT.ID Fields of Account records and have a dual number system	4. The Bank should not go for any new numbering system at all. It should continue only with the old 5 digit numbers	5. T24 has a standard number format for Internal accounts. It will not allow 7 digit number for internal accounts. But it will allow using the old 5 digit number through ALT.ACCT.ID Field to have a dual number system for internal accounts
Answer: T24 has a standard number format for Internal accounts. It will not allow 7 digit number for internal accounts. But it will allow using the old 5 digit number through ALT.ACCT.ID Field to have a dual number system for internal accounts
Question: A Bank wants to change a USD Savings account into GBP Current account. Will T24 allow this to be done?
1. If the Account is authorised, T24 will not permit changing the currency of the Account	2. If the currencies are defined as equivalent in CURRENCY table, this change will be permitted.	3. T24 will not allow to change currencies and types simultaneously. Hence the USD Savings account should first be changed to GBP Savings account. It could then be changed as GBP Current account	4. T24 will not allow to change currencies and types simultaneously. Hence the USD Savings account should first be changed to USD Current account. It could then be changed as GBP Current account	5. T24 will allow changing the currency only for Nostro accounts.
Answer: If the Account is authorised, T24 will not permit changing the currency of the Account
Question: A Bank has set rules in CONDITION.PRIORITY to group its Customer accounts on the basis of Category code and Industry. 6 months later, it wants to change this order of priority and wants to group them on the basis of Category code and Nationality with effect from the previous month. Capitalisation of interest is done quarterly. Will T24 allow this ?
1. T24 will not allow changes to CONDITION.PRIORITY	2. Changes to CONDITION.PRIORITY are allowed as long as new selections are to be included. But old selections cannot be dropped	3. Any change to CONDITION.PRIORITY is possible. Hence T24 will allow the changes as desired	4. Any change to CONDITION.PRIORITY is possible as long as the effective date is the Current date or a future date. Hence this change will not be allowed	5. Any change to CONDITION.PRIORITY is possible with back date as long as Capitalisation of interest has not happened. Hence this change will be allowed in T24 if the previous month end was not a quarter end.
Answer: Any change to CONDITION.PRIORITY is possible as long as the effective date is the Current date or a future date. Hence this change will not be allowed
Question: A Bank pays 4% Fixed interest for all its Savings accounts, but collects charges. For Staff Savings accounts it pays 4% Fixed interest, but does not collect any charges. For Current accounts, it does not pay any interest and does not collect any charges. For Staff Current accounts it pays 4% Fixed interest but does not collect any charges. To handle this situation alone effectively through group level conditions, how many groups should be formed in ACCT.GEN.CONDITION ? The group number should be minimum
1. Five	2. Two	3. Three	4. Four	5. One
Answer: Three
Question: A Bank has indicated CATEGORY as the only choice in CONDITION.PRIORITY for Statements. Category code 6001 has not been chosen to fall into any specific group defined in STMT.GEN.CONDITION in that Bank. When an account is opened with Category code 6001, what will be the default Statement frequency for that ?
1. Frequency as defined for Group 99	2. Monthly	3. No statement will be produced as no group has been defined for Category 6001	4. Instead of producing statement, this will be automatically marked for Passbook issue	5. Quarterly
Answer: Monthly
Question: A Bank has defined Group 1 as Current accounts of Private individuals in ACCT.GEN.CONDITION. For Current accounts of Private individuals, it wants to set a monthly capitalisation for debit interest when the accounts are in USD and a daily capitalisation for debit interest if the accounts are in other currencies. To achieve this, what should the bank do?
1. It should set records in GROUP.CAPITALISATION to represent each desired currency separately with Ids of 1USD, 1 GBP, 1EUR, 1JPY etc and set debit capitalisation frequencies of monthly for USD and daily for other currencies	2. It should set records in GROUP.CAPITALISATION to represent USD and all other currencies separately with Ids of 1USD and 1ALL and set debit capitalisation frequencies of monthly for USD and daily for other currencies	3. The Bank Could define another Group, say Group 2, as Current accounts of Private individuals in USD in ACCT.GEN.CONDITION. For Group 1, it should set rules for daily capitalisation for debit interest and for Group 2, it should set rules for monthly capitalisation for debit interest in GROUP.CAPITALISATION	4. The Bank cannot handle this situation, as it would involve changing CONDITION.PRIORITY which is not possible	5. The only way in which this situation can be handled is to set records in ACCT.CAPITALISATION for accounts of other currencies
Answer: The Bank Could define another Group, say Group 2, as Current accounts of Private individuals in USD in ACCT.GEN.CONDITION. For Group 1, it should set rules for daily capitalisation for debit interest and for Group 2, it should set rules for monthly capitalisation for debit interest in GROUP.CAPITALISATION
Question: A Bank wants to form groups based on Customer Residence through CONDITION.PRIORITY for Account. In that country, dual residence is allowed. The Bank wants to record dual residence for all its Customers in Customer record through multi value / sub value fields and form groups based on combination of dual residences. Why this cannot be done in T24 in the same way as desired by the Bank?
1. RESIDENCE is not a multi value field in CUSTOMER application. Hence dual residence cannot be marked in any way in CUSTOMER records. Due to this T24 cannot handle this situation	2. It is possible to design Local reference field as sub value field and indicate dual residence. However CONDITION.PRIORITY cannot have local reference fields and hence T24 cannot handle this situation	3. Only single valued fields can be chosen for usage in CONDITION.PRIORITY. T24 cannot handle this if the Bank wants to use a multi value / sub value field for this purpose.	4. CONDITION.PRIORITY for Account can use only fields from ACCOUNT application. As the Bank wants to set rules based on CUSTOMER, T24 cannot handle this situation	5. CONDITION.PRIORITY for Account can use fields only from ACCOUNT and CUSTOMER. Residence value is to be picked from COUNTRY, which is not allowed in CONDITION.PRIORITY. Hence T24 cannot handle this situation
Answer: Only single valued fields can be chosen for usage in CONDITION.PRIORITY. T24 cannot handle this if the Bank wants to use a multi value / sub value field for this purpose.
Question: Which are the allowed applications from where data can be chosen to rank selection for CONDITION.PRIORITY for Account?
1. Only ACCOUNT	2. Only CUSTOMER	3. Only CATEGORY	4. Only ACCOUNT and CUSTOMER	5. Only SECTOR
Answer: Only ACCOUNT and CUSTOMER
Question: A Bank has chosen CATEGORY and SECTOR as the only choices in CONDITION.PRIORITY for Statement. For some current accounts, it wants to send statements on monthly basis on the last working day and for the rest on monthly basis, on the date the account was opened. How should it set the STMT.GEN.CONDITION to achieve this ?
1. It should set STMT.GEN.CONDITION with Id as MONTHLY and FREQUENCY.TYPE field set as PERIOD.END	2. It should set STMT.GEN.CONDITION with Id as MONTHLY and FREQUENCY.TYPE field set as ANNIVERSARY	3. It should set STMT.GEN.CONDITION with Id as MONTHLY and FREQUENCY.TYPE field left blank	4. It should set two records in STMT.GEN.CONDITION with Id as MONTHLY, the first with FREQUENCY.TYPE field set as PERIOD.END and the second with FREQUENCY.TYPE field set as ANNIVERSARY	5. STMT.GEN.CONDITION setting cannot achieve both the scenarios
Answer: STMT.GEN.CONDITION setting cannot achieve both the scenarios
Question: A Bank wants to set a condition that withdrawals above USD 100,000 for Savings accounts could be done only after a notice of 3 days. Is this possible in T24?
1. This rule can be set up in ACCOUNT.DEBIT.INT	2. This rule cannot be set up	3. This rule can be set up in ACCT.GEN.CONDITION	4. This rule can be set up in ACCT.GROUP.CONDITION	5. This rule can be set up in BALANCE.REQUIREMENT
Answer: This rule can be set up in ACCT.GROUP.CONDITION
Question: A Bank has set an amount of 50,000 in MAXIMUM.INCREASE field of ACCT.GROUP.CONDITION for Group 1USD. What is the significance of this rule?
1. The maximum increase allowed from start of day opening balance to current online cleared balance is 50,000	2. The maximum increase allowed from start of year opening balance to current online cleared balance is 50,000	3. The maximum increase allowed from same day previous year opening balance to current online cleared balance is 50,000	4. The maximum increase allowed from start of month opening balance to current online cleared balance is 50,000	5. The maximum increase allowed from same day previous month opening balance to current online cleared balance is 50,000
Answer: The maximum increase allowed from start of year opening balance to current online cleared balance is 50,000
Question: A Bank wants to set the following rule for its Special savings accounts of High net worth individuals in USD as follows: If Customer withdraws cash more than 10 times within a statement period of 1 month, then account is not eligible for credit interest. Further, it should also be considered as a violation. Is this possible in T24?
1. No. It is not possible to stop interest payment. However, this can be recorded as a violation for applying penalty	2. No. It is not possible to record this as a violation. However, interest payment can be stopped	3. It is possible to stop credit interest payment and mark as violation	4. It is possible to stop debit interest receipt and mark as violation	5. It is possible to stop any interest activity and mark as violation
Answer: It is possible to stop credit interest payment and mark as violation
Question: A Bank wants to consolidate entries appearing in statements, if they are more than 25 in a single day. Is this possible in T24?
1. Yes. This could be set in AC.STMT.PARAMETER using Field SP.PB.CONS.MAX	2. Yes. This could be set in ACCOUNT.STATEMENT using Field CONS.SB.PASSBOOK	3. Yes. This can be set using AC.CONSOLIDATE.COND application and CONSOLIDATE.ENT field in ACCOUNT application	4. Yes. This could be set in STATEMENT.CHARGES	5. Yes. This could be set in ACCT.STATEMENT.CHARGES
Answer: Yes. This can be set using AC.CONSOLIDATE.COND application and CONSOLIDATE.ENT field in ACCOUNT application
Question: Of the following statements, which is true regarding future Exposure date of an accounting entry?
1. It can only be present in credit entries	2. It can only be present in debit entries	3. It can only be present in debit entries or credit entries which are reversal of debit entries	4. It can only be present in credit entries or debit entries which are reversal of credit entries	5. It is present in all credit and debit entries
Answer: It can only be present in credit entries or debit entries which are reversal of credit entries
Question: Value date of a credit entry for USD 1,000 is 23rd April 2008 and Exposure date is 24th April 2008. What is the outcome of this?
1. The credit of USD 1,000 can be drawn on or after 23rd April 2008 and will be reckoned for interest calculation effective 23rd April 2008	2. The credit of USD 1,000 will be reckoned for interest calculation effective 23rd April 2008 and can be drawn on or after 24th April 2008	3. Exposure date cannot be after Value date. It can be same or prior to Value date	4. It is not possible to have different dates as Value and Exposure dates	5. The credit of USD 1,000 is booked on 23rd April 2008. Interest calculation and withdrawal effective from 24th April 2008
Answer: The credit of USD 1,000 will be reckoned for interest calculation effective 23rd April 2008 and can be drawn on or after 24th April 2008
Question: In the ACCOUNT.PARAMETER, if the field CASH.FLOW.DAYS is left blank, then what is the effect on cash flow maintenance in accounts if the CREDIT.CHECK is WORKING ?
1. This field should not be left blank as cash flow in accounts will not happen in its absence	2. If no value is entered in this field, then cash flow is not maintained for any account	3. If no value is entered in this field, then cash flow is maintained only for Nostro accounts for 10 calendar days	4. If no value is entered in this field, then cash flow is maintained for all accounts for 10 calendar days	5. If no value is entered in this field, then cash flow is maintained for all accounts for 10 working days
Answer: If no value is entered in this field, then cash flow is maintained only for Nostro accounts for 10 calendar days
Question: If Value dated accounting is desired for Account based applications, then where can we set that choice?
1. We need not set any choice. This is defaulted	2. We cannot set this choice. Value dated accounting is hard coded for Account based applications	3. For all Account based applications in their respective top level parameter tables	4. ACCOUNT.PARAMETER	5. ACCT.GROUP.CONDITION
Answer: ACCOUNT.PARAMETER
Question: The available Balance in an account is maintained as a ladder to show date wise cash flow in an account. What type of entries are included in this balance ?
1. This will include all authorised debit and credit entries over an account	2. This will include all authorised debit and credit entries including Forward dated accounting entries produced by contract applications and STO application	3. This will include all authorised debit and credit entries including Forward dated accounting entries produced by contract applications and STO application and also unauthorised debit entries	4. This will include all authorised debit and credit entries including Forward dated accounting entries produced by contract applications and STO application and also unauthorised credit entries	5. This will include all authorised debit and credit entries including Forward dated accounting entries produced by contract applications and STO application and also unauthorised entries as set in AVAILABLE.BAL.UPD Field of ACCOUNT.PARAMETER
Answer: This will include all authorised debit and credit entries including Forward dated accounting entries produced by contract applications and STO application and also unauthorised entries as set in AVAILABLE.BAL.UPD Field of ACCOUNT.PARAMETER
Question: Available Balance in an account is maintained as a ladder to show date wise cash flow in an account. What type of date wise ladder is maintained in each account ?
1. Calendar date wise	2. Working date wise	3. Business date wise	4. Monthly first or last date wise	5. Can be set as exposure or value date wise
Answer: Can be set as exposure or value date wise
Question: A Bank wants to use only the Available balance before passing a debit entry for overdraft or limit checking. Is this possible in T24?
1. No. Always the Working balance is checked	2. No need for any special set-up. T24 will always check the Available balance	3. T24 will check all the balances automatically	4. No. Always the cleared balance is checked	5. Yes. At ACCOUNT or ACCT.GROUP. CONDITION or ACCOUNT.PARAMETER level
Answer: Yes. At ACCOUNT or ACCT.GROUP. CONDITION or ACCOUNT.PARAMETER level
Question: When an ACCOUNT.CLASS record has been defined with an Id of SAVINGS, what further action is required to be done during implementation?
1. An Internal account in Local currency is required to be opened for the Category code indicated	2. Sector records are required to be opened for the Sectors indicated here	3. PL account in Local currency is required to be opened for the PL Category code indicated	4. No further action is required during implementation as this is to be indicated as CLASS type	5. Customer type of accounts in Local currency is required to be opened for the Category codes indicated
Answer: No further action is required during implementation as this is to be indicated as CLASS type
Question: What is the purpose of setting a record in ACCOUNT.CLASS with Id of SAVINGS ?
1. To recognise the type of accounts for which Passbook could be issued and the type of accounts for which Notice period could be defined for withdrawals	2. To recognise the different types of savings account eligible for SAVINGS PREMIUM	3. To recognise the different types of savings account that should be defaulted as liquidation accounts though they were the first accounts opened by the Customer	4. To recognise the internal account to be used for on line closure of Savings accounts	5. To recognise the type of Savings accounts for which statements could be issued
Answer: To recognise the type of accounts for which Passbook could be issued and the type of accounts for which Notice period could be defined for withdrawals
Question: A Posting restriction is set up for all types of transactions in an account by using a pre-defined record Id of '1' in POSTING.RESTRICT. When a credit transaction is attempted in the account, what will happen ?
1. The credit will be accepted. A COB report will be produced indicating the credit transaction	2. The credit will be rejected due to the posting restriction on all types of transactions	3. The credit will be rejected as such restriction indicates that the Account is marked for closure	4. Override will be produced. After due approval of the override, transaction will be allowed by recording the Override details	5. If the credit is initiated by Customer, then will be accepted. Other credits will be rejected
Answer: Override will be produced. After due approval of the override, transaction will be allowed by recording the Override details
Question: A Bank has set the ACCOUNT.MASK field in the COMPANY table as R#####-#####. How will an Account Number of 1234 be displayed?
1. 1234	2. 1234	3. 00000-01234	4. 12340	5. 12340-00000
Answer: 00000-01234
Question: Account can be accessed in other applications by using either the Id, or MNEMONIC or ALT.ACCT.ID. Which of this fields are mandatory for Customer type of accounts?
1. All 3 are Mandatory.	2. Id and Mnemonic are Mandatory.	3. Id and ALT.ACCT.ID are mandatory.	4. Only Id is Mandatory.	5. None of them are Mandatory.
Answer: Only Id is Mandatory.
Question: A Bank wants to progressively increase the amount of Overdraft Limt for an account during the first year and then gradually decrease the facility. Can this be set up in T24?
1. It is possible to set periodical increases to Limits but not periodical decreases	2. It is possible to set periodical decreases to Limits but not periodical increases	3. It is possible to set either periodical decreases or increases to Limits but not both for the same Limit	4. A Limit for overdraft cannot be increased or decreased. It is for a fixed amount	5. It is possible to set periodical increases and decreases to Limt
Answer: It is possible to set periodical increases and decreases to Limt
Question: A Bank wants to allow an Overdraft facility to the extent of USD 50,000 in the Current account 12345 of a Customer. It has created a record in LIMIT application with Id of CCC.100.01 for the same. How does it operationalise this further ?
1. If the entire Overdraft facility is proposed only for Account No.12345, then it should indicate "100.01" in LIMIT.REF Field of Account 12345 and set the SINGLE.LIMIT Field as Y	2. In Account 12345, LINK.TO.LIMIT Field should be set as YES and SINGLE.LIMIT Field should be set as N. T24 will default value in LIMIT.REF when the account is overdrawn for the first time	3. In Account 12345, LINK.TO.LIMIT Field should be set as YES and SINGLE.LIMIT Field should be set as Y. T24 will default value in LIMIT.REF when the account is overdrawn for the first time	4. No further action is required. When the account is overdrawn, T24 will automatically identify and update Limit of Customer for the Limit Product pre-defined in LIMIT.PARAMETER application	5. If Overdraft facility is proposed only for Account No.12345, then it should indicate "CCC.100.01" in LIMIT.REF Field of Account 12345 and set the SINGLE.LIMIT Field as Y
Answer: If the entire Overdraft facility is proposed only for Account No.12345, then it should indicate "100.01" in LIMIT.REF Field of Account 12345 and set the SINGLE.LIMIT Field as Y
Question: A Bank wants to allow Overdraft facility to the extent of USD 50,000 in the Current account 12345 and 12346 of a Customer. It has created a record in LIMIT application with Id of CCC.100.01 for the same. How does it operationalise this further ?
1. It should indicate "100.01" in LIMIT.REF Field of Accounts 12345 and 12346 and set the SINGLE.LIMIT Field as N	2. It should indicate "CCC.100.01" in LIMIT.REF Field of Account 12345 and 12346 and set the SINGLE.LIMIT Field as N	3. In Accounts 12345 and 12346, LINK.TO.LIMIT Field should be set as YES and SINGLE.LIMIT Field should be set as N. T24 will default value in LIMIT.REF when the accounts are overdrawn for the first time	4. No further action required. When the accounts are overdrawn, T24 will automatically identify and update Limit of Customer for the Limit Product pre-defined in LIMIT.PARAMETER application	5. Not possible to combine overdrafts of different accounts. Another Limit should be created as CCC.100.02 and each Limit record to be indicated for each account
Answer: It should indicate "100.01" in LIMIT.REF Field of Accounts 12345 and 12346 and set the SINGLE.LIMIT Field as N
Question: A Bank has been sanctioned a Limit of USD 500,000 in its Nostro Account by Bank of America. How will it indicate this in the LIMIT.REF field in the ACCOUNT application in T24?
1. It should create suitable LIMIT record with BOA as Customer and indicate this in LIMIT.REF Field in Nostro account	2. It should create suitable LIMIT record with Itself as Customer and indicate this in LIMIT.REF Field in Nostro account	3. In T24, input is not allowed in LIMIT.REF Field for Nostro accounts. T24 will default NOSTRO value into this Field	4. T24 will default NOSTRO value in this Field. User has to change it to reflect Limit record created with BOA as Customer	5. T24 will default NOSTRO value in this Field. User has to change it to reflect Limit record created with Itself as Customer
Answer: In T24, input is not allowed in LIMIT.REF Field for Nostro accounts. T24 will default NOSTRO value into this Field
Question: A Customer has sought Overdraft facility for two of his current accounts with the Bank - USD 10,000 for the first account and USD 20,000 for the second account. The Bank is agreeable for this. How will it operationalise this further?
1. It should sanction two limits for USD 10,000 and USD 20,000 and attach them to the respective accounts through LIMIT.REF Field. It will set SINGLE.LIMIT Field as Y for both the accounts	2. It should sanction two limits for USD 10,000 and USD 20,000 and attach them to the respective accounts through LIMIT.REF Field. It will set SINGLE.LIMIT Field as N for both the accounts	3. It should sanction one limit for USD 30,000 and attach this to both the accounts through LIMIT.REF Field. It will set SINGLE.LIMIT Field as N for both the accounts	4. It should sanction one limit for USD 30,000 and attach this to both the accounts through LIMIT.REF Field. It will set SINGLE.LIMIT Field as Y for both the accounts	5. In both Accounts, LINK.TO.LIMIT Field should be set as YES. It does not matter whether one or two Limits are sanctioned. T24 will check their values when the accounts are overdrawn
Answer: It should sanction two limits for USD 10,000 and USD 20,000 and attach them to the respective accounts through LIMIT.REF Field. It will set SINGLE.LIMIT Field as Y for both the accounts
Question: A Customer has sought Overdraft facility of USD 30,000 to cover two of his current accounts with the Bank. The Bank is agreeable for this. How will it operationalise this further?
1. It should sanction two limits for USD 15,000 each and attach them to the respective accounts through LIMIT.REF Field. It will set SINGLE.LIMIT Field as Y for both the accounts	2. It should sanction two limits for USD 15,000 each and attach them to the respective accounts through LIMIT.REF Field. It will set SINGLE.LIMIT Field as N for both the accounts	3. It should sanction one limit for USD 30,000 and attach this to both the accounts through LIMIT.REF Field. It will set SINGLE.LIMIT Field as N for both the accounts	4. It should sanction one limit for USD 30,000 and attach this to both the accounts through LIMIT.REF Field. It will set SINGLE.LIMIT Field as Y for both the accounts	5. In both Accounts, LINK.TO.LIMIT Field should be set as YES. It does not matter whether one or two Limits are sanctioned. T24 will check their values when the accounts are overdrawn
Answer: It should sanction one limit for USD 30,000 and attach this to both the accounts through LIMIT.REF Field. It will set SINGLE.LIMIT Field as N for both the accounts
Question: A Customer has sought Overdraft facility of USD 30,000 to cover two of his current accounts with the Bank. Credit Balance of one account is to be netted against the debit balance of another while checking the Limits. Can the Bank handle this in T24?
1. Yes. The Bank should set ALLOW.NETTING Field in the respective Accounts as NO	2. Yes. The Bank should set NET.OUTSTANDING Field in LIMIT.PARAMETER as Y	3. Yes. The Bank should set ALLOW.NETTING Field in the respective LIMIT and Accounts as YES	4. Yes. The Bank should set ALLOW.NETTING Field in the respective LIMIT as NO	5. Yes. The Bank should set NET.OUTSTANDING Field in LIMIT.CHANGE as Y
Answer: Yes. The Bank should set ALLOW.NETTING Field in the respective LIMIT and Accounts as YES
Question: When is an Account considered as Inactive in T24?
1. When the Bank sets the INACTIV.MARKER Field as Y in an Account, it is considered Inactive	2. When there are no debit or credit transactions initiated by the customer for the period indicated in INACTIVITY.MONTHS Field in COMPANY table, T24 will automatically mark the account as inactive	3. When there are no debit or credit transactions initiated by the Customer for the period indicated in INACTIVITY.MONTHS Field in COMPANY/ ACCT.GROUP.CONDITION table, T24 will automatically mark the account as inactive	4. When there are no debit or credit transactions initiated by the Customer or Bank for the period indicated in INACTIVITY.MONTHS Field in COMPANY table, T24 will automatically mark the account as inactive	5. When the Bank sets the INACTIV.MARKER Field as INACTIVE in an Account, it is considered Inactive
Answer: When there are no debit or credit transactions initiated by the Customer for the period indicated in INACTIVITY.MONTHS Field in COMPANY/ ACCT.GROUP.CONDITION table, T24 will automatically mark the account as inactive
Question: When is an Inactive account considered again as Active in T24?
1. When the Bank closes the account and repoens again.	2. When the Bank increases the period indicated in INACTIVITY.MONTHS Field in COMPANY table, all the old Inactive accounts will be considered as Active if they fit in the new definition	3. When there is a new debit or credit transaction initiated by the Customer, a Override is generated. On its due approval, T24 will automatically mark the account as Active	4. When the Bank resets an Inactive account through ACCT.INACTIVE.RESET, the Account will be considered as Active	5. Inactive Accounts will never be made to Active.
Answer: When the Bank resets an Inactive account through ACCT.INACTIVE.RESET, the Account will be considered as Active
Question: For Special current accounts, a Bank wants to issue Statement of accounts on monthly basis. In addition, it also wants to give its account holders special updates on adhoc basis. Can this be handled in T24?
1. No. It is possible to generate either statements on periodical basis or adhoc updating through passbooks. Not possible to have both	2. No. T24 can produce only statements for Current Accounts. Passbook is meant only for Savings accounts. Not possible to handle this in T24	3. Yes. The Bank can opt for Passbook facility for any account. It can then advise the Customers to get them updated on monthly basis as well	4. Yes. The Bank can re-classify the Special current accounts as Savings accounts. It can then issue Passbooks to them and advise them to get the Passbooks updated on monthly basis as well	5. Yes. In addition to producing statements on monthly basis, the Bank can also produce adhoc statements using ACCOUNT.STATEMENT without affecting the regular statement frequency
Answer: Yes. In addition to producing statements on monthly basis, the Bank can also produce adhoc statements using ACCOUNT.STATEMENT without affecting the regular statement frequency
Question: A Bank has set rules to capitalise interest on the last date of every month for its Special Savings account. To mark a special occasion, for some accounts which have maintained very high balances, it desires to reward by giving an additional interim credit capitalisation on the 10th of next month. How is this set up in T24?
1. The Bank should create ACCT.CAPITALISATION record for each desired account with 10th of next month as Credit capitalisation date	2. The Bank should create ACCT.INTERIM.CAP record with 10th of next month as Id. It should indicate the Accounts to be covered and mark Credit capitalisation as Yes	3. The Bank should create ACCT.INTERIM.CAP record for each desired account. It should indicate 10th of next month as Credit capitalisation date	4. Interim capitalisation date is applicable for Credit as well as Debit capitalisation. Hence not possible to set it for Credit interest alone	5. The Bank should make the desired accounts fall into a separate group and set GROUP.CAPITALISATION record with 10th of next month as Credit capitalisation date
Answer: The Bank should create ACCT.INTERIM.CAP record with 10th of next month as Id. It should indicate the Accounts to be covered and mark Credit capitalisation as Yes
Question: When an account is closed in T24, what will happen to the outstanding Standing orders affecting that Account?
1. As long as there are outstanding Standing orders, an account cannot be closed	2. When an account is closed all its outstanding Standing orders are cancelled	3. All the outstanding Standing orders will be producing FT records in IHLD status. User can then change instructions suitably	4. If the Standing orders are meant to maintain balance in the account, then they will be cancelled automatically. Other Standing orders have to be first closed before attempting closure of the account	5. If the Standing orders are meant to move money out of the account at periodic intervals, then they should first be closed before attempting closure of the account
Answer: When an account is closed all its outstanding Standing orders are cancelled
Question: A Bank wants to open an internal account as Contingent account to indicate Contra for Cheque sent on collection. Is this possible in T24?
1. No. Internal account can only be opened as Non contingent account	2. Yes. Internal account can be opened as Contingent or Non contingent depending on using the appropriate CATEGORY pre defined in ACCOUNT.PARAMETER	3. Instead of opening an internal account, a Customer type of account should be opened as only such accounts can be contingent	4. No. Accounts are always Non contingent in nature in T24. However, while reporting they can be shown as Contingent	5. Yes. Any Internal account can be treated as contingent by marking Field CONTINGENT.INT suitably
Answer: Yes. Internal account can be opened as Contingent or Non contingent depending on using the appropriate CATEGORY pre defined in ACCOUNT.PARAMETER
Question: A Bank observes that an Account was wrongly debited with USD 10 on 5th April. To nullify this, it passed a credit entry on 6th June. The Bank would like to mask both these entries from appearing in the Account statement, which is produced on the last day of June. Is this possible in T24?
1. This is not possible. Both entries will have to appear	2. T24 does not allow this as even if the entries are hidden from Customer, the interest calculations would have been affected	3. This is possible by using AC.PRINT.MASK application and selecting the entries to be masked	4. This is possible only if both the entries had been passed the same day	5. T24 does not allow this as even if the entries are hidden from Customer, the interest calculations would have been affected
Answer: This is possible by using AC.PRINT.MASK application and selecting the entries to be masked
Question: With regard to RE.CONSOL.SPEC.ENTRY used in the operation of Accounts, which of the following statements is false?
1. Used for sign change	2. Used for static changes	3. Used to record movement in balances of Internal accounts	4. Used to record accruals and capitalisation	5. Records contingent balance movements on non-contingent accounts
Answer: Used to record movement in balances of Internal accounts
Question: Which is the Asset Type not used in the context of Accounts?
1. SUSPENS	2. CONTCR	3. DEBIT	4. FWDDB	5. CREDIT
Answer: FWDDB
Question: ACCT.ACTIVITY contains details of Account balances and activity. What is its main use?
1. It is used to calculate interest and charges	2. It is used to produce statements and passbooks	3. It is used to produce adhoc statements	4. It is used for on line account closure	5. It is used to for Inactive marking
Answer: It is used to calculate interest and charges
Question: A Bank has opened a Customer Account as a type "B" Contingent account. Do we have to set up an interest liquidation account?
1. No. Interest can be liquidated to this account	2. Yes. A Non contingent customer account	3. Yes. A Non contingent internal account	4. Yes. Any non contingent account	5. Yes can be either a contingent or non contingent account
Answer: Yes. Any non contingent account
Question: Which type of Accounts in T24 permits us to replace the Customer with another, though the second customer is not a Joint Holder?
1. Current accounts	2. Nostro Accounts	3. Not allowed for any type of account	4. Internal accounts	5. Possible for any type of account without any restriction
Answer: Nostro Accounts
Question: What is the meaning of Exposure date?
1. This is the date on which a debit entry is included for calculation of interest	2. This is the date on which a credit entry is included for calculation of interest	3. This is the date on which a debit entry can be drawn against	4. This is the date on which a credit entry can be drawn against	5. This is the date after which an account will be debited or credited automatically
Answer: This is the date on which a credit entry can be drawn against
Question: In which file are entries affecting the account statement balances stored?
1. STMT.ENTRY	2. CATEG.ENTRY	3. RE.CONSOL.SPEC.ENTRY	4. STMT.ENT.FWD	5. CONSOL.ENT.TODAY
Answer: STMT.ENTRY
Question: In which file are entries affecting contingent balances of a non-contingent account stored?
1. STMT.ENTRY	2. CATEG.ENTRY	3. RE.CONSOL.SPEC.ENTRY	4. CATEG.ENT.FWD	5. CONSOL.ENT.TODAY
Answer: RE.CONSOL.SPEC.ENTRY
Question: A bank wants to maintain future cash flow projection for Nostro accounts. For all other accounts, the Bank would like to set the overdraft checking against the cleared balance including unauthorized debits. What will be the appropriate settings in T24 to achieve this?
1. In ACCOUNT.PARAMETER, Field CREDIT.CHECK to be set as AVAILWORK and Field CASH.FLOW.DAYS as NOSTRO	2. In ACCOUNT.PARAMETER, Field CREDIT.CHECK to be set as WORKING and Field CASH.FLOW.DAYS to be left Blank	3. In ACCOUNT.PARAMETER, Field CREDIT.CHECK to be set as FORWARD and Field CASH.FLOW.DAYS as NOSTRO	4. In ACCOUNT.PARAMETER, Field CREDIT.CHECK to be set as AVAILFWD and Field CASH.FLOW.DAYS to be left Blank	5. It is not possible to maintain the cash flow projection when overdraft checking is working
Answer: In ACCOUNT.PARAMETER, Field CREDIT.CHECK to be set as WORKING and Field CASH.FLOW.DAYS to be left Blank
Question: In a high volume environment, a Bank does not want to print statements for Internal Accounts on a Daily basis. Can statement printing be skipped as required by the Bank?
1. No, it cannot be skipped all accounts must have statements	2. Yes, it can be skipped by reversing the ACCOUNT.STATEMENT record	3. Yes, it can be skipped by changing the statement frequency to Yearly once	4. Yes, it can be skipped by setting the statement frequency to Daily and by setting PRINT.BYPASS in DE.PARM	5. Yes, it can be skipped by setting the statement frequency to Daily and PRINT.STMT to NO
Answer: Yes, it can be skipped by setting the statement frequency to Daily and PRINT.STMT to NO
Question: A Customer requests his Bank to send weekly statements to his Company's Accountant and monthly statements to the Manager. How can this be defined in T24?
1. This cannot be defined as COB can handle the cycling of only one frequency	2. By expanding the multi value Field STMT.FQU.1 and defining Weekly & Monthly	3. By expanding the multi value Field STMT.FQU.2 and defining Weekly & Monthly	4. By defining Field STMT.FQU.1 as Weekly and SPECIAL.STATEMENT as Month end	5. By defining STMT.FQU.2 as Weekly and SPECIAL.STATEMENT as Month end
Answer: By expanding the multi value Field STMT.FQU.2 and defining Weekly & Monthly
Question: Which of the statements is true regarding the expansion of available ladder in Trade dated system?
1. Based on cash flow days	2. Based on cash flow days and real entries	3. Based on real entries in the system	4. Based on cash flow days and forward entries	5. Based on forward entries in the system
Answer: Based on cash flow days and real entries
Question: An account was closed online with applicable interest and charges. When are closure statements produced?
1. Statements are produced online	2. Statements are produced during closing date COB	3. Statements are produced on the capitalization date	4. Statements are produced after two COBs	5. Statements are produced on the Statement frequency date
Answer: Statements are produced during closing date COB
Question: A Bank wants to lock funds against the overdraft amount instead of Working Balance. Apart from settings in AC.LOCKED.EVENTS, what other settings are required?
1. No settings are required. Limit is to be attached to the account	2. By attaching limit to the account & setting Field CREDIT.CHECK to AVAILFWD in ACCOUNT.PARAMETER	3. By attaching limit to the account & setting Field CREDIT.CHECK to AVAILWORK in ACCOUNT.PARAMETER	4. By attaching limit to the account & setting Field CREDIT.CHECK to AVAILABLE in ACCOUNT.PARAMETER	5. In T24, we do not have an option to achieve the Bank’s requirement
Answer: In T24, we do not have an option to achieve the Bank’s requirement
Question: A Bank wishes to make Settlement Account as mandatory during account closure, is it possible to parameterize this?
1. It can not be parameterized, it can be done only through a Version	2. By defining in ACCT.GROUP.CONDITION	3. By defining in GROUP.CAPITALISATION	4. By defining in APPL.GEN.CONDITION	5. By defining in ACCOUNT.PARAMETER
Answer: By defining in GROUP.CAPITALISATION
Question: Bank has a setup to update Suspense entry information in SUSPENSE.HISTORY. When do these entries get recorded?
1. When interest and charges are suspended for an account	2. When interest and charges are posted for a suspense account	3. When there are forward entries for suspense accounts	4. When there are Split Value dated entries raised for any accounts in value dated system	5. When there are forward entries for all accounts in trade dated system
Answer: When there are Split Value dated entries raised for any accounts in value dated system
Question: Is it possible for a Bank to bypass Print Statements and to produce Swift Statements in T24?
1. It is not possible to bypass one type of statement	2. It is not possible to define two statements for an Account	3. It is possible only for Internal and Nostro accounts	4. It is possible for all accounts	5. It is possible only for Nostro accounts
Answer: It is possible for all accounts
Question: In ACCT.GROUP.CONDITION, field 1 to 3 are set for a Group. This group  pertains to Current Account. What is the impact of above fields setting on this Group of Current Accounts ?
1. Defines the number of allowed withdrawals for a specified period for this Group of Current Accounts	2. Restricts the maximum amount of withdrawals for this Group of Current Accounts	3. Defines Notice amount and Notice period required for a withdrawal for this Group of Current Accounts	4. Defines the period and amount of availability of funds for this Group of Current Accounts	5. This setting does not have any impact on this Group of Current Accounts
Answer: This setting does not have any impact on this Group of Current Accounts
Question: Cashflow days is set to 10 in the ACCOUNT.PARAMETER. The system date is 22 December 2009. An Account has the following Forward entries with value dates of 22 December, 31 December, 1 January, 2 January and 15 January. What will be the NEXT.AF.DATE set to this Account?
1. 40169	2. 40178	3. 40179	4. 40180	5. 40193
Answer: 40180
Question: If the CREDIT.CHECK field is set to AVAILABLE in the ACCOUNT.PARAMETER, how is the available balance updated when an unauthorised transaction is processed?
1. The update of available balance ignores unauthorized credits	2. The update of available balance ignores unauthorized forward entries	3. The update of available balance ignores unauthorized debit and credits	4. The update of available funds uses the AVAILABLE.BAL.UPD Field settings to decide how the available balance is updated	5. The update of available balance ignores unauthorized forward credit entries
Answer: The update of available funds uses the AVAILABLE.BAL.UPD Field settings to decide how the available balance is updated
Question: If the CREDIT.CHECK field is set to AVAILABLE in the ACCOUNT.PARAMETER, which balance is used for the overdraft check when an unauthorised transaction is processed?
1. Overdraft check uses the working balance	2. Overdraft check uses the working balance plus the forward movements for today	3. There is no overdraft check	4. Overdraft check uses the available balance	5. Overdraft check uses the online actual balance
Answer: Overdraft check uses the available balance
Question: CREDIT.CHECK Field is set to AVAILABLE and AVAILABLE.BAL.UPD Field is set to NONE in ACCOUNT.PARAMETER File. What is the effect on available balance fields when an unauthorised transaction is passed debiting account A and crediting account B?
1. None of the available balance fields are updated on both accounts as AVAILABLE.BAL.UPD Field is set to NONE	2. Available balance fields on account A are updated with the debit, but account B is not updated	3. Available balance fields on account B are updated with the credit, but account A is not updated	4. The respective unauthorised movements and available balances are updated on both accounts	5. The respective unauthorised movement fields are updated but the available balances are not updated on both accounts
Answer: The respective unauthorised movement fields are updated but the available balances are not updated on both accounts
Question: If the CREDIT.CHECK field is set to WORKING and the AVAILABLE.BAL.UPD field is set to NONE in the ACCOUNT.PARAMETER. What is the effect on available balance fields when an unauthorised transaction is passed debiting account A and crediting account B?
1. None of the available balance fields are updated on both accounts as AVAILABLE.BAL.UPD Field is set to NONE	2. Available balance fields on account A are updated with the debit, but account B is not updated	3. Available balance fields on account B are updated with the credit, but account A is not updated	4. The respective available balance fields on account A and account B are both updated	5. The AV.NAU.DB.MVMT field is updated with the debit, but the available balance is not update for account A. No update to available balance fields on account B
Answer: Available balance fields on account A are updated with the debit, but account B is not updated
Question: In the ACCOUNT.PARAMETER, if the CREDIT.CHECK field is set to FORWARD, which of the following statements is true when an unauthorised transaction is processed?
1. The update of available funds uses AVAILABLE.BAL.UPD. The overdraft check uses working balance only	2. The update of available funds uses AVAILABLE.BAL.UPD. The overdraft check uses working balance plus forward movements for today	3. The update of available funds uses AVAILABLE.BAL.UPD. There is no overdraft check	4. The update of available funds ignores unauthorized credits. Overdraft check uses working balance only	5. The update of available funds ignores unauthorized credits. Overdraft check uses working balance plus forward movements for today
Answer: The update of available funds ignores unauthorized credits. Overdraft check uses working balance plus forward movements for today
Question: What type of entries will cause the available funds ladder to be extended beyond the number of days specified in CASH.FLOW.DAYS?
1. Only real entries with an exposure date or value date beyond the window	2. Real and forward entries with a value date beyond the window	3. The window cannot be extended beyond the number of CASH.FLOW.DAYS	4. Real and forward entries with an exposure date beyond the window	5. Only forward entries with an exposure date or value date beyond the window
Answer: Only real entries with an exposure date or value date beyond the window
Question: In ACCOUNT.PARAMETER File, if CREDIT.CHECK Field is set to AVAILFWD, which of the following statements is true when an unauthorised transaction is processed?
1. The update of available funds uses AVAILABLE.BAL.UPD. The overdraft check uses working balance only	2. The update of available funds uses AVAILABLE.BAL.UPD. The overdraft check uses working balance plus forward movements for today	3. The update of available funds uses AVAILABLE.BAL.UPD. There is no overdraft check	4. The update of available funds ignores unauthorized credits. Overdraft check uses working balance only	5. The update of available funds ignores unauthorized credits. Overdraft check uses working balance plus forward movements for today
Answer: The update of available funds uses AVAILABLE.BAL.UPD. The overdraft check uses working balance plus forward movements for today
Question: A Bank desires that the Auto suspense flag be set, so that the system will automatically raise accounting entries when the SUSPENSE flag is removed from an account. How can this be set in T24?
1. Can be set in ACCOUNT.PARAMETER and ACCOUNT	2. Can be set in ACCOUNT.PARAMETER and ACCOUNT.ACCRUAL	3. This cannot be set in T24	4. Can be set in ACCOUNT.PARAMETER and ACCT.GROUP.CONDITION	5. Can be set in ACCT.GROUP.CONDITION and ACCOUNT.ACCRUAL
Answer: Can be set in ACCT.GROUP.CONDITION and ACCOUNT.ACCRUAL
Question: The AVAILABLE.BAL.UPD field in the ACCOUNT application defines which unauthorised movements are included in the available balances. Which other option is available in T24 to restrict the update for specific unauthorised movements?
1. It is not possible to restrict specific unauthorised movements	2. By specifying the transaction codes in AVAILABLE.BAL.UPD field	3. Yes, but only at application level through application EB.AF.PARAM	4. Yes, but only at transaction level through application EB.AF.PARAM	5. Yes, at application level and by transaction code within an application through application EB.AF.PARAM
Answer: Yes, at application level and by transaction code within an application through application EB.AF.PARAM
Question: In the ACCOUNT.PARAMETER, the CREDIT.CHECK field is set to AVAILABLE and AVAILABLE.BAL.UPD field is set to BOTH, but for FT the AVAIL.NAU.CR field is set to No for transaction code 213 on EB.AF.PARAM. The transaction code 213 is used on the debit and credit entries. What is the effect on available movement and balance fields when an unauthorised FT is passed debiting account A and crediting account B?
1. Unauth DB movement field and the available balance field are updated on account A. Only the unauth CR movement field is update on account B	2. The respective Unauth movements and available balance fields are updated on both accounts	3. Unauth DB movement field and the available balance field are updated on account A. No update to the available movement and balance fields on account B	4. Only the respective Unauth movement fields are update on both accounts, the available balance fields are not updated	5. There is no update to the available movement and balance fields in both accounts
Answer: Unauth DB movement field and the available balance field are updated on account A. No update to the available movement and balance fields on account B
Question: In the ACCOUNT.PARAMETER, the CREDIT.CHECK field is set to AVAILWORK and AVAILABLE.BAL.UPD field is set to DEBIT. Which of the following statements is true when an unauthorised transaction is processed?
1. The update of available balance ignores unauthorised debits. The overdraft check uses working balance only	2. The update of available balance ignores unauthorised credits. The overdraft check uses working balance and available balance	3. The update of available balance ignores unauthorised debits. The overdraft check uses working balance plus forward movements for today	4. The update of available balance ignores unauthorized credits and debits. Overdraft check uses working balance only	5. The update of available balance ignores unauthorized credits. Overdraft check uses working balance plus forward movements for today
Answer: The update of available balance ignores unauthorised credits. The overdraft check uses working balance and available balance
Question: Which single file in T24 holds balances for all types of contract and accounts?
1. RE.CONSOL.ACCOUNT	2. LMM.ACCOUNT.BALANCES	3. EB.CONTRACT.BALANCES	4. ACCT.ACTIVITY	5. RE.CONTRACT.BALANCES
Answer: EB.CONTRACT.BALANCES
Question: Which file is set in T24 for defining contract groups?
1. APPL.GEN.CONDITION	2. CUSTOMER.CHARGE	3. Respective parameter files in each Application	4. CONDITION.PRIORITY	5. APPL.GROUP.CONDITION
Answer: APPL.GEN.CONDITION
Question: Apart from CUSTOMER, which setup is expected in T24 before creating a new Account?
1. CUSTOMER.CHARGE	2. ACCT.GEN.CONDITION	3. ACCT.GROUP.CONDITION	4. ACCOUNT.STATEMENT	5. ACCT.CAPITALISATION
Answer: ACCT.GEN.CONDITION
Question: Which of the following processes will not happen automatically when customer residence is changed?
1. Capitalised Interest for the Accounts get re-calculated	2. Group for all accounts for that customer will change	3. All overdraft asset / liability for that customer will be re-classified into new consolidation	4. All contract asset / liability for that customer will be re-classified into new consolidation	5. Accrued interest will be recalculated for new group interest conditions
Answer: Capitalised Interest for the Accounts get re-calculated
Question: Which of the following is true with respect to Nostro Accounts?
1. Nostro accounts do not have account statements	2. Cash flow ladder is not built for Nostro accounts	3. By default there is no IC processing for Nostro Accounts	4. Nostro accounts do not undergo credit risk monitoring process	5. Nostro accounts cannot be closed
Answer: Nostro accounts do not undergo credit risk monitoring process
Question: A withdrawal notice is set for a savings account for 50000 such that customer can withdraw it only after a month. What will happen in T24 if this condition is not met?
1. T24 will raise a warning message for the withdrawal condition	2. T24 will ignore any notice if it is a debit	3. T24 will only penalise the interest from the start day of the notice	4. T24 will raise a warning and penalise the interest from the notice start date if the condition is not met	5. None of the above
Answer: T24 will raise a warning and penalise the interest from the notice start date if the condition is not met
Question: Which of the following statements is not true on Account balances?
1. OPEN.ACTUAL.BAL is same as ONLINE.ACTUAL.BAL if there is no entry for that day	2. ONLINE.ACTUAL.BAL will be same as ONLINE.CLEARED.BAL if there is no future exposure dated entries for that Account	3. OPEN.ACTUAL.BAL for a day is equal to BK.BAL for that day in ACCT.ACTIVITY	4. ONLINE.CLEARED.BAL will be updated on the exposure date for all future exposure dated entries	5. Available balance contains Future exposure dated balance also
Answer: ONLINE.CLEARED.BAL will be updated on the exposure date for all future exposure dated entries
Question: An account has no movements for the last one year and the statement setup for the Account is monthly. How can we set T24 not to produce statements if there are no movements in the account?
1. No need to set this up. This happens by default	2. This can be defined in ACCOUNT.STATEMENT for that Account	3. This can be set in AC.STMT.PARAMETER	4. This is set in AC.STMT.PARAMETER for all accounts and can be overwritten for a particular Account by setting it in ACCOUNT.STATEMENT	5. This cannot be set. By default T24 will produce the statement
Answer: This is set in AC.STMT.PARAMETER for all accounts and can be overwritten for a particular Account by setting it in ACCOUNT.STATEMENT
Question: Which balance update fields in ACCT.ACTIVITY File will be used for getting the closing balance of an account?
1. DAY.NO & BALANCE	2. BOOKING.DATE & BOOK.BALANCE	3. BK.DAY.NO & BK.BALANCE	4. TRADE.DATE & BALANCE	5. VALUE.DATE & BALANCE
Answer: BK.DAY.NO & BK.BALANCE
Question: Which Account balance gets affected with unauthorised debits?
1. ONLINE.ACTUAL.BAL	2. ONLINE.CLEARED.BAL	3. WORKING.BAL	4. OPEN.ACTUAL.BAL	5. OPEN.CLEARED.BAL
Answer: WORKING.BAL
Question: What is the default statement frequency for an internal Account created by the System?
1. Quarterly	2. Monthly	3. As set in STMT.GEN.CONDITION application	4. Yearly	5. Daily
Answer: Monthly
Question: A Bank has debited USD 10,000 from an Account and later reversed the entry to correct an error.This was done in the same statement period. Now the Bank wants to filter this entry from the customer statement.Can this be done in T24?
1. No. We cannot filter any entries from Customer statements	2. This can be filtered by setting masking in this entry through AC.PRINT.MASK application	3. T24 will not print these entries and this filtering happens by default	4. We can set an option in AC.STMT.PARAMETER application to mask reversal entries	5. We can set an option in the Account to mask reversal entries
Answer: This can be filtered by setting masking in this entry through AC.PRINT.MASK application
Question: A bank is in a Value dated system, it has raised an entry with a future value date. Can a statement be generated for the entry on the booking date?
1. No, the entry will get added only on Value date on which the Account balance get affected	2. Yes, by setting an option in AC.STMT.PARAMETER	3. Yes, by setting an option in ACCOUNT.STATEMENT	4. Yes, by setting an option in ACCOUNT.PARAMETER	5. This happens by default as Customer statements are always trade dated
Answer: Yes, by setting an option in AC.STMT.PARAMETER
Question: An Account is closed on 15 Dec and statement frequency of this Account falls on 20 Dec with a special statement scheduled on 18 Dec. When will the statement be generated for this account?
1. 40162	2. 40165	3. End of Month	4. 40167	5. On all days as above
Answer: 40162
Question: A Bank has a value dated T24 system and the system date is 10/12/2009. A User inputs a credit transaction to a customer account with Trade date as 10/12/2009, Value date as 12/12/2009 and Exposure date as 13/12/2009. When will the ledger balance get updated with this transaction?
1. Immediately	2. On Cob of 12/12/2009	3. On Start of the Day of 12/12/2009	4. On Cob of 13/12/2009	5. On Cob of 10/12/2009
Answer: On Start of the Day of 12/12/2009
Question: A Bank has a value dated T24 system and the system date is 10/12/2009. A credit transaction to a nostro account is input with Booking date as 10/12/2009, Value date as 12/12/2009 and Exposure date as 13/12/2009. When will the Cleared balance get updated with this transaction?
1. Immediately	2. On Cob of 11/12/2009	3. On start of the day of 12/12/2009	4. On start of the day of 13/12/2009	5. On Start of the day of 11/12/2009
Answer: On start of the day of 13/12/2009
Question: A Bank wants to set inactive period for a group of accounts. How is it enabled in T24?
1. This is not possible for group of accounts. It can be set for all the accounts in a Company.	2. It is possible at the group level.	3. This is not possible for group of accounts. It can be set for all the accounts in a Bank.	4. It is possible only at account level.	5. It is possible only at product level.
Answer: It is possible at the group level.
Question: A Bank wants to lock the available limit for a customer. Can this be supported in T24?
1. This is not possible. Only credit balance in an account can be locked.	2. It is possible and can be enabled at individual account level only.	3. It is possible and can be enabled at individual account level or group level or whole Bank level	4. While Bank level definition can lock credit balances, account level definition can lock only debit balances.	5. There is no locking facility available in T24.
Answer: It is possible and can be enabled at individual account level or group level or whole Bank level
Question: Before creating an account for a new condition group which parameter records need to be setup for the new group?
1. GROUP.CAPITALISATION, GROUP.CREDIT.INT, GROUP.DEBIT.INTEREST	2. CONDITION.PRIORITY	3. ACCT.GEN.CONDITON	4. GROUP.ACCOUNT	5. GROUP.CAPITALISATION ONLY
Answer: GROUP.CAPITALISATION, GROUP.CREDIT.INT, GROUP.DEBIT.INTEREST
Question: A bank does not use account enquiries by value date. Is it possible to block update of STMT.VAL.ENTRY?
1. Yes at system level using the SPF application.	2. Yes at company level using the COMPANY application.	3. Yes at system level using ACCOUNT.PARAMETER	4. No, the STMT.VAL.ENTRY table is always maintained	5. Yes at company level using the ACCOUNT.ACCRUAL applciation.
Answer: Yes at system level using ACCOUNT.PARAMETER
Question: Is it possible to block the update of ACCT.ENT.TODAY?
1. Yes at system level using ACCOUNT.PARAMETER	2. Yes at company level using the COMPANY application.	3. Yes at system level using the SPF application.	4. No, ACCT.ENT.TODAY is always updated	5. Yes at company level using the ACCOUNT.ACCRUAL applciation.
Answer: Yes at system level using ACCOUNT.PARAMETER
Question: How can a user access an account record in T24?
1. Via the account number, account mnemonic or alternate account ID	2. Only via the account number	3. Only via the account number or account mnemonic	4. Only via the account mnemonic or alternate account id	5. Only via the alternate account id
Answer: Via the account number, account mnemonic or alternate account ID
Question: How many additional account records are created when an account is set as high volume?
1. Set at account level	2. 100	3. None	4. 50	5. Set in ACCOUNT.PARAMETER
Answer: None
Question: Which types of account are automatically set as high volume accounts when the "DEFAULT" AC.AUTO.ACCOUNT record is present?
1. Local currency internal, Nostro and Position accounts	2. All internal accounts and Local currency Customer accounts	3. Only Internal Accounts	4. None	5. Only Nostro accounts
Answer: Local currency internal, Nostro and Position accounts
Question: How many additonal EB.CONTRACT.BALANCE records are created when an account is set as high volume?
1. 1 per login session	2. 1 per login session per time interval	3. None	4. 100	5. Set in ACCOUNT.PARAMETER
Answer: None
Question: How many additional ACCT.ACTIVITY records are created when an account is set as high volume?
1. 1 per login session	2. 1 per login session per time interval	3. None	4. 100	5. Set in ACCOUNT.PARAMETER
Answer: None
Question: Which table stores unmerged data relevant to high volume accounts?
1. AC.HVT.TRIGGER	2. AC.AUTO.ACCOUNT	3. AC.SUB.ACCOUNT	4. AC.HVT.MERGE	5. ACCOUNT.PARAMETER
Answer: AC.HVT.TRIGGER
Question: How does online overdraft checking take place for a high volume customer account?
1. The same as any other account	2. The online limit check is blocked for high volume customer accounts	3. Online limit checks take place when the data is merged into the master record	4. Special COB processing takes place for high volume customer accounts with limits	5. An override is generated when the account is overdrawn
Answer: The online limit check is blocked for high volume customer accounts
Question: How does the data merging processing take place for high volume accounts?
1. Via an automatic background service and at critical points during the COB	2. Only Via a continous background service	3. Only Before COB GL processing	4. Only In the Start of day section of the COB	5. Data is not merged. Only Notional merger happens when we run enquiry.
Answer: Via an automatic background service and at critical points during the COB
Question: For a high volume account what does "NOTIONAL" merge mean?
1. Data is merged for enquiry purposes but the master tables are not updated	2. There is no concept of a notional merge	3. Data is merged and the master record is updated on request	4. Data is merged during the COB	5. No data merging takes place
Answer: Data is merged for enquiry purposes but the master tables are not updated
Question: How does "ONLINE" merging for high volume accounts work?
1. All data is merged and the master tables are updated	2. Data is merged and the master tables are updated except for the merge data records relevant to the current merging time interval	3. Data is merged but the master tables are not updated	4. Online merging does not take place	5. No data merging takes place
Answer: Data is merged and the master tables are updated except for the merge data records relevant to the current merging time interval
Question: Why is data merged for high volume accounts and the master tables updated during the COB?
1. No data merging takes place	2. So that a single set of data is available for critical processing such as capitalisation, statement processing, GL updates and static change processing	3. So that a single set of data is available for capitalisation only	4. Data is merged for enquiry purposes but the master table is not updated	5. Only notional merging takes place in the COB
Answer: So that a single set of data is available for critical processing such as capitalisation, statement processing, GL updates and static change processing
Question: Can you parameterize the online merging interval for high volume accounts?
1. No.The interval is defaulted to 1hr.	2. No.The interval is defaulted to 15mins.	3. Yes the interval is defined at account level	4. Yes the interval is defined only at company level	5. Yes the interval is defined at system level and company Level
Answer: Yes the interval is defined at system level and company Level
Question: What does the merge interval mean for high volume accounts?
1. The time interval before a T24 session creates a new AC.HVT.TRIGGER record	2. The time between the update of ACCOUNT and EB.CONTRACT.BALANCES	3. The time interval before high volumes accounts can be updated	4. The time that the merging serivce is stopped	5. The time that the merging service is started
Answer: The time interval before a T24 session creates a new AC.HVT.TRIGGER record
Question: For high volume accounts what does "REAL" merge mean?
1. Data is merged except for the currently active online record and the master table is updated	2. Data is moved from the ACCOUNT to the EB.CONTRACT.BALANCES table	3. Data is merged except for record with future dates and the master tables are updated	4. Data is merged for enquiry purposes but the master table is not updated	5. There is no concept of a real merge
Answer: Data is merged except for record with future dates and the master tables are updated
Question: What are the components of the AC.HVT.TRIGGER key?
1. Account Number - Session number - date - time	2. Account Number - session number	3. Account number - session number - date	4. Session Number - Account Number - time	5. Session Number - Account Number - Date - Time
Answer: Account Number - Session number - date - time
Question: How is a customer account set as high volume?
1. At the account level only	2. Either at Account level or Account Category level.	3. At account category level only	4. At company level	5. Only internal accounts, nostor accounts and position accounts can be set as high volume.
Answer: Either at Account level or Account Category level.
Question: Which table stores the working balance for an account by Default?
1. ACCOUNT	2. ACCT.ACTIVITY	3. EB.CONTRACT.BALANCES	4. ACCT.BALANCE.ACTIVITY	5. ACCOUNT.BALANCES
Answer: EB.CONTRACT.BALANCES
Question: Which table stores the cleared balance for an account?
1. ACCT.STMT.PRINT	2. ACCT.ACTIVITY	3. EB.CONTRACT.BALANCES	4. ACCT.BALANCE.ACTIVITY	5. DATE.EXPOSURE
Answer: EB.CONTRACT.BALANCES
Question: A bank would like to block the update of CATEG.ENT.ACTIVITY for performance reasons as they do not use the related enquries. Is this possible?
1. Yes at system level using ACCOUNT.PARAMETER	2. Yes at company level using the COMPANY application.	3. Yes at system level using the SPF application.	4. No, CATEG.ENT.ACTIVITY is always updated	5. Yes at company level using the ACCOUNT.ACCRUAL applciation.
Answer: Yes at system level using ACCOUNT.PARAMETER
Question: An account has been closed online before the Statement date. The statement setup for the Account had a Special statement setup. When will the Statement for the Account is produced?
1. Online after the Account is closed.	2. On the Closure date COB	3. On COB of regular statement date.	4. On COB of Special statement.	5.
Answer: On the Closure date COB
Question: What are the Trade dated balance and Book dated balance for an Account in the Below Scenario? The Account Balance as of 5th Dec is Debit 10,000. A Back Dated transaction is entered for 1st Dec for Credit 5,000.
1. Trade Dated Balance is Debit 5000 and Book Dated balance is Debit 10000	2. Trade Dated Balance is Debit 10000 and Book Dated balance is Debit 5000	3. Trade Dated Balance is Debit 5000 and Book Dated balance is Debit 5000	4. Trade Dated Balance is Credit 5000 and Book Dated balance is Debit 10000	5.
Answer: Trade Dated Balance is Debit 5000 and Book Dated balance is Debit 10000
Question: A Bank wants to build a report to show trade dated balances for an Account. Where will they refer to get this data in T24?
1. OPEN.ACTUAL.BALANCE in EB.CONTRACT.BALANCE	2. OPEN.ACTUAL.BALANCE in ACCOUNT	3. BK.BALANCE in ACCT.ACTIVITY	4. BALANCE field in ACCT.ACTIVITY	5.
Answer: BK.BALANCE in ACCT.ACTIVITY
Question: A Bank wants to Build a Trade Dated Balance. How can this be set in T24?
1. No Special setup needed. It gets built automatically for all transactions.	2. The field ADJ.TRADE.DATE.BAL in the ACCOUNT.PARAMETER needs to be set.	3. The field AVAILABLE.BAL.UPD needs to be set in ACCOUNT.	4. The field RAISE.VD.ENTRIES needs to be set in the ACCOUNT.PARAMETER.	5.
Answer: The field ADJ.TRADE.DATE.BAL in the ACCOUNT.PARAMETER needs to be set.
Question: A Bank wants to build an enquiry to show all unauthorised transaction of the Account. Where can we get the information in T24?
1. ENTRY.HOLD	2. EB.CONTRACT.BALANCES and AC.UNAUTH.ENTRY	3. TXN.ENTRY	4. ACCOUNT & ACCT.ACTIVITY	5.
Answer: EB.CONTRACT.BALANCES and AC.UNAUTH.ENTRY
Question: (a)Account DELLUSD has a working balance of -1000 &available balance as 4000. (b) This account has a overdrawn power of 25000. (c)Locked amount is set to 5000. (d) At account level, CREDIT.CHECK is set to AVAILABLE and LOCKED.WITH.LIMIT is set to "YES". With this setup, on crediting the account for 2000, what override will be generated for locked amount?
1. Locked amount override will be generated for -4000	2. Locked amount override will be generated for -2000	3. Locked amount override will be generated for -5000	4. Locked amount override will be generated for -1000	5. There will not be any override for locked amount
Answer: There will not be any override for locked amount
Question: What will be the impact to locked amount checking, when the field CREDIT.CHECK is set & LOCKED.WITH.LIMIT is set to "YES"?
1. Limit amout will be applied on the Balance set in CREDIT.CHECK for cheking Locked amount override.	2. Credit check has no impact. Locked amount override checking is based on Working balance + limit amount	3. Credit check has no impact. Locked amount override checking is based on available balance + limit amount	4. Always it is working balance. No parameterisation required	5. Always it is actual balance. No parametrisation requried
Answer: Limit amout will be applied on the Balance set in CREDIT.CHECK for cheking Locked amount override.
Question: In value dated system, is it possible to produce statements as per trade dated system?
1. No, it is not possible	2. It can be set using Account parameter	3. It can be set in Account record	4. It can be set in Account statement record	5. It can be set in AC.STMT.PARAMETER table
Answer: It can be set in AC.STMT.PARAMETER table
Question: Bank wants to defer the interest posting of an account, can this be done, if so how this can be parameterised?
1. No, it is not possible	2. Can be parameterised through ACCT.GEN.CONDITION	3. Can be parameterised through ACCT.GROUP.CONDITION	4. Can be parameterised through ACI/GCI	5. Can be parameterised through ACCOUNT.ACCRUAL
Answer: Can be parameterised through ACCT.GEN.CONDITION
Question: Cash flow days is set 10, today is 01 DEC, there are 4 entries with exposure dates 15 DEC,16 DEC, 17 DEC & 20 DEC, what is true about NEXT.EXP.DATE?
1. On 01st DEC, NEXT.EXP.DATE will be null as the exposure dates are not within cash flow window	2. On 10th DEC, NEXT.EXP.DATE is updated as 15 DEC	3. On 15th DEC, NEXT.EXP.DATE is updated as 15th DEC	4. On 01st DEC, during online NEXT.EXP.DATE is updated as 15th DEC	5. On 5th DEC, NEXT.EXP.DATE is updated as 15th DEC
Answer: On 01st DEC, during online NEXT.EXP.DATE is updated as 15th DEC
Question: What is the purpose of setting compensation account?
1. To check overdraft against the consoldiated balance of all accounts which have same compensation account	2. Calculate interest on the consolidated balance of all accounts which have same compensation account	3. Initiate automatic sweeping to compensate the account balance and keep it equal	4. To generate Consolidated account statement	5. To move the funds from different currency accounts to local currency account
Answer: Calculate interest on the consolidated balance of all accounts which have same compensation account
Question: What type of sweep should be preferably used, while using the concept shared balance?
1. MAIN	2. TWO WAY	3. CASH FLOW	4. SURPLUS	5. Option A & C
Answer: SURPLUS
Question: Account A is following ACI & ADI for accruals,now bank wishes to change the accrual calculation to follow the calculation for group accruals, how can it be done?
1. It has to follow only Account specific accruals till the closure of account	2. On capitalisation date, it can be changed by reversing the ACCT.CAPITALISATION record	3. Change the INTEREST.DAY.BASIS to GENERAL in ACI/ADI	4. Change the INTEREST.DAY.BASIS to GENERAL in GCI/GDI	5. On capitalisation reverse ACI & ADI
Answer: Change the INTEREST.DAY.BASIS to GENERAL in ACI/ADI
Question: What is the purpose of setting HVT flag?
1. To avoid locking on using the accounts from parallel sessions	2. To indicate the high volume accounts	3. To indicate online accounts	4. To indicate offline accounts	5. To indicate sub accounts
Answer: To avoid locking on using the accounts from parallel sessions
Question: For what type of accounts, HVT flag is not valid?
1. Nostro Accounts	2. Customer Accounts	3. Till Accounts	4. Vostro Accounts	5. Internal Accounts
Answer: Till Accounts
Question: How many sub accounts are created by setting HVT.FLAG?
1. Sub accounts are not created	2. 999 accounts	3. No limitations, based on number of sessions	4. Based on the number specified in MAX.SUB.ACCOUNT setup	5. 99 accounts
Answer: Sub accounts are not created
Question: When the balances of HVT accounts are merged?
1. Online - before starting the COB	2. During COB	3. Online - based on the time interval definition	4. By trigering manual merge	5. On running STMT.ENT.BOOK
Answer: Online - based on the time interval definition
Question: What is the service used to merge the balances of HVT accounts?
1. AC.HVT.MERGE	2. AC.HVT.TRIGGER	3. AC.HVT.MERGE.SERVICE	4. AC.HVT.AMEND	5. AC.HVT.MERGE.INTERVAL
Answer: AC.HVT.MERGE.SERVICE
Question: Which of this is true for T24 high Volume Processing?
1. High Volume Accounts need to use Sub Accounts by setting up a MAX.SUB.ACCOUNT in ACCOUNT.	2. High Volume Account need to be set with HVT.FLAG as TRUE in ACCOUNT or Account Category to be set for HVT processing in AC.HVT.PARAMETER.	3. We can set an Account as either Sub Account or HVT if it has to be a High Volume Account.	4. T24 doesn't have any solution for Account with High Volume transaction.	5.
Answer: High Volume Account need to be set with HVT.FLAG as TRUE in ACCOUNT or Account Category to be set for HVT processing in AC.HVT.PARAMETER.
Question: Which of this is not true with T24 HVT Accounts?
1. All Internal Accounts are marked as High Volume by Default.	2. All Local Currency Internal Accounts are marked as High Volume by Default.	3. All Nostro Accounts are marked as High Volume by Default.	4. All Position Accounts are marked as High Volume by Default.	5.
Answer: All Internal Accounts are marked as High Volume by Default.
Question: Which of this is true with Account balance in T24?
1. EB.CONTRACT.BALANCE holds the Account balance for All Accounts.	2. EB.CONTRACT.BALANCE holds the Account balance only for High Volume Accounts.	3. EB.CONTRACT.BALANCE holds the Account balance only for Internal Accounts.	4. EB.CONTRACT.BALANCE holds the Account balance only for Customer Accounts.	5.
Answer: EB.CONTRACT.BALANCE holds the Account balance for All Accounts.
Question: Which setting up in T24 enables to keep the balances in ACCOUNT?
1. RETAIN.ACCOUNT.BALANCES in ACCOUNT.PARAMETER	2. HVT.FLAG setup in ACCOUNT	3. No Such setup possible. Balances are kept in Account by default.	4. HVT.FLAG in EB.CONTRACT.BALACES	5.
Answer: RETAIN.ACCOUNT.BALANCES in ACCOUNT.PARAMETER
Question: How Does T24 handle High volume Transactions using HVT processing.
1. Individual Accounts are created to handle Parallel transactions.	2. Individual EB.CONTRACT.BALANCES records are created for session and they are merged to master Account.	3. Parallel high Volume Transactions will not be updated online and update postponed to COB	4. Temporary trigger records are created to handle the parallel transaction and they are merged to Master Account at a specified interval.	5.
Answer: Temporary trigger records are created to handle the parallel transaction and they are merged to Master Account at a specified interval.
Question: Which file has the setup to specify HVT merge interval time?
1. ACCOUNT	2. AC.HVT.PARAMETER	3. ACCOUNT.PARAMETER & AC.HVT.PARAMETER	4. ACCOUNT.PARAMETER	5. CONSOLIDATE.COND
Answer: ACCOUNT.PARAMETER & AC.HVT.PARAMETER
Question: A FT transaction was authorised on a High volume account, EB.CONTRACT.BALANCES shows balance including this FT transaction but the amount was missing in ACCOUNT record. What could be the reason?
1. RETAIN.AC.BALANCES was not set	2. ECB will show real-time balance	3. By running HVT service account balance is updated.	4. A & B	5. B & C
Answer: B & C
Question: Which of this Statement in not TRUE with T24 High Volume(HVT) Processing.
1. Sub Accounts nolonger used as High Volume Processing.	2. Both HVT and Sub Accounting processing can be used for T24 High Volume Processing.	3. HVT processing will not create multiple Accounts to handle parallel High volume transactions.	4. Any Account based file under goes HVT processing.	5.
Answer: Any Account based file under goes HVT processing.