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Tested your theory. Interesting results.

Created this script
#!/bin/ksh
echo 'Start'
sleep 6 &
RETVAL1=$!
sleep 4 &
RETVAL2=$!
sleep 2 &
RETVAL3=$!
wait $RETVAL1
echo $?
wait $RETVAL2...

I have created a shell script that spawns multiple background processes (spawns sqlplus application). I use an array to capture the process id of those background processes. I then loop through the...