oracle 1z0-1058-20 practice test

Question 1

You are working with the customer to gather Risk-Control data for the data import process. The customer has information in
multiple formats. Which format should be used for importing the data?

• A. .xlsx
• B. .doc
• C. .pdf
• D. .xml
• E. .txt

Answer:

D

Question 2

You are advising your client on design and configuration related to how access incident results will be viewed and managed.
The client has provided a list of business requirements:

Incident results can be viewed by Department

Groups of investigators receive assigned incidents based on Department

Must ensure systematically that no incident is unassigned to an investigator Which three must be configured to support
these requirements? (Choose three.)

• A. Worklist assignment Result Investigator should be set to specific users.
• B. Custom perspective for Department linked to the Results object with Required set to “No”
• C. Custom perspective for Department linked to the Results object with Required set to “Yes”
• D. Investigators are assigned job roles with custom Department perspective data roles attached. Other incident users receive job roles which only allow viewing of incidents.
• E. Investigators are assigned job roles with custom Department perspective data roles attached for managing incidents. Other incident users are assigned job roles with custom Department perspective data roles attached for viewing only.
• F. Worklist assignment Result Investigator should be set to “All Eligible Users”

Answer:

A D F

Question 3

Which two activities can be performed using Financial Reporting Compliance? (Choose two.)

• A. Review and approve the accuracy and completeness of control descriptions.
• B. Gain real-time access to live financial data and proactively resolve issues.
• C. Continuously monitor financial transactions and role-based remediation of transaction incidents.
• D. Review control assessment results, along with any effectiveness issues found.
• E. Provide self-service access to reporting and analysis against financial transactions.
• F. Conduct intuitive audits of general ledger balances with journal details.

Answer:

A C

Explanation:
References:

Question 4

Your customer needs to conduct monthly Operational Effectiveness assessments for controls across two organizations
(North America and EMEA). Your customer requires that assessment results for North America be accessible only to users

• A. Use the Region hierarchy for security and the Business Process hierarchy for reporting of controls.
• B. Use the Region hierarchy initially, and later use both Region and Business Process hierarchies for security.
• C. Use both Region and Business Process hierarchies solely for reporting purposes.
• D. Use the Business Process hierarchy for security and the Region hierarchy for reporting of controls.

Answer:

A

Question 5

How do you add values to a Risk Type list of values?

• A. Populate the Import template with the new values in the Issue Severity column on the Controls tab.
• B. Add the lookup codes to the GRC_RISK_TYPE Lookup Type.
• C. Because you cannot add new values, update one of the existing lookup codes to what the client wants it to be.
• D. Add the lookup codes to the GRCM_RISK_TYPE Lookup Type.
• E. Use the default lookup codes because there is no way to update the existing ones.

Answer:

D

Explanation:
References:

Question 6

You have completed the data import process with no errors. You created process, risks, controls, and one perspective.
Controls were related to perspectives. You have provided the customer with the Control Manager security role. When the
customer logs in to Financials Risk Compliance (FRC), the customer cannot see any controls.
Which step was missed during the import process?

• A. Data security policies for Controls were not created.
• B. The Controls were not related to any risk objects.
• C. The parent process was never approved.
• D. The Control Method was not set to a valid value.

Answer:

D

Question 7

How do you identify Financial Reporting Compliance Cloud’s key stakeholders?

• A. Identify users who need to create and submit expense reports easily.
• B. Identify users who will create customer invoices, and receive and apply customer payments.
• C. Identify executives who need to certify internal controls for SOX or similar mandates.
• D. Identify executives who will manage customer balances and recognize revenue.

Answer:

D

Question 8

You have built a transaction model to identify possible duplicate charges between invoicing and expense credit cards. The
model logic already includes two standard filters that identify amounts and suppliers that are the same or similar, as shown:

Which additional date filter will further refine the set of duplicate charges found?

• A. The “Payables Invoice” object’s “Invoice Date” attribute is greater than the “Expense Report Credit Card Transaction” object’s “Transaction Date” attribute.
• B. The Expense Report Credit Card Transaction objects Last Updated Date attribute is greater than the Relative Value of 3 months.
• C. The “Expense Report Credit Card Transaction” object’s “Transaction Date” attribute is not blank.
• D. The “Payables Invoice” object’s “Invoice Date” attribute is similar to the “Expense Report Credit Card Transaction” object’s “Transaction Date” attribute within +/- 10 days.

Answer:

D

Question 9

You have five business units in our company, BU1 through BU5. You want to build a transaction model to identify suppliers
who have been paid more than $100,000 USD across all business units except BU5.
Which two filters must be combined? (Choose two.)

• A. Add a standard filter where the “Payment” object’s “Organization ID” equals BU1, BU2, BU3, BU4.
• B. Add a function filter grouping by “Supplier ID” where the sum of “Payment Amount” is greater than 100,000.
• C. Add a function filter grouping by “Organization ID” where the sum of “Payment Amount” is greater than 100,000.
• D. Add a standard filter where the Payment objects Organization ID equals BU5, and advanced option Exclude is checked.
• E. Add a standard filter where the “Payment” object’s “Organization ID” is equal to itself.

Answer:

A C

Question 10

During an assessment, an issue was created. Your job as the Issue Manager is to review the issues and validate them. If it is
determined that they are not valid issues, you need to close them. You have found an issue that is not valid and with Status:
Open and State: Reported.
Identify the correct step to close this issue.

• A. On the Manage Issues page, highlight the issue and click the Close button.
• B. The assessment associated to the issue must be completed before closing the issue. Only then can you close the issue.
• C. After you have completed the remediation plan, click the Close button on the Remediation Plan page.
• D. Ensure that the issue status is In Edit, and then from the Actions menu, select Close Issue.

Answer:

B