Partitions are primarily used to address physical disk limitations, BIOS limitations, distributing disk and controller I/O, and to limit possible consequences of full file systems and hardware failures.
If you do not have specific requirements or space management experience with your system than chances are that you will most likely end up with inadequately sized partitions and will need to re-partition later. Why bother? You do not have to create partitions. All your files and directories can reside in the root (/) partition. At the minimum you will need a small boot partition (512 MB) and a root (/) partition. Any other partitions are optional and not a must.
I recommend to mirror critical database files, such as control file, redo log, archive log among physical separate disks - not partitions on the same disk. And also to put your Oracle database backups using rman, FRA on a separate disk. This will increase your changes to rebuild the system in case one of your hard drive fails or dies.
The reason I am concerned about the partitioning was due to the SSD. Its my understanding that since SSD works differently from HDD, it is not suitable for maintaining all the partitions. I'm not sure if I can rely on LVM to create the partitions optimally between the SSD and HDD.
Perhaps, it would have helped to mention that my intention is to use this Oracle R12 Vision system for self study purposes.
I understand that the boot and root (/) partitions need to be on the SSD. I'm planning to create swap, var and tmp partitions in the HDD.
Would appreciate if you can let me know any issues with this setup.
A SSD drive is not bound to the same physical aspects and performance limitations like a conventional hard disk. However, it's news to me that you cannot or should not partition a SSD drive. Where did you see this information?
You can create a /var and /tmp partition, but I any unnecessary partition will complicate your setup for no good reason. You can also create a swapfile and thereby increase your swap space on demand if necessary, instead of using a fixed swap partition. Why do you think installing a /var and /tmp partition will make any difference for your self-study environment?
Your /boot partition needs to be on the startup drive, e.g. SSD drive. Your root (/) partition can be anywhere else, provided it can be accessed. Why would you use the SSD drive for root and put /var and /tmp on HDD? I can't see how +/- a couple of GB will make any difference on your SSD drive.
If you need advice about the setup of Oracle EBS you better post your question in the appropriate Oracle EBS forum. Regarding the OS and general database configuration, my previous response still applies.