During the install of Oracle 11.2.0.3, the installer pre-requisite check fails on the NTP daemon configuration.

Network Time Protocol (NTP) – This task verifies cluster time synchronization on clusters that use Network Time Protocol (NTP). 
Error: – PRVF-5507 : NTP daemon or service is not running on any node but NTP configuration file exists on the following node(s): localhost  –
Cause:  The configuration file was found on at least one node though no NTP daemon or service was running.  –
Action:  If you plan to use CTSS for time synchronization then NTP configuration must be uninstalled on all nodes of the cluster.

To address this, remove the /etc/ntp.conf file.  This will allow the use of CTSS for time synchronization.

[root@localhost ~]# cd /etc
[root@localhost etc]# mv ntp.conf ntp.conf.bak