Question from the Oracle Database test

What does the following PL/SQL code do?

DECLARE
  CURSOR emp_cursor IS SELECT first_name, last_name FROM employees;
  v_first employees.first_name%TYPE;
  v_last employees.last_name%TYPE;
BEGIN
  OPEN emp_cursor;
  LOOP
    FETCH emp_cursor INTO v_first, v_last;
    EXIT WHEN emp_cursor%NOTFOUND;
    DBMS_OUTPUT.PUT_LINE(v_first || ' ' || v_last);
  END LOOP;
  CLOSE emp_cursor;
END;