Acquire with NOWAIT error and TRUNCATE command

A good example - https://community.oracle.com/thread/634676

Oracle parameter: select * from v$parameter where name = 'ddl_lock_timeout'  (in sec)

Note: truncate is a DDL

Ex: 
select dummy from t where dummy='X' for update nowait;
select dummy from t where dummy='X' for update wait 5;