oracle 1z0-1081-21 practice test

Oracle Financial Consolidation and Close 2021 Implementation Essentials Exam

Last exam update: Feb 21 ,2024
Page 1 out of 8. Viewing questions 1-15 out of 106

Question 1

Which two statements are correct with regard to Data Management locations? (Choose two.)

  • A. A company with three instances of Oracle EBS R12 should only use one location to maintain proper accounting controls.
  • B. Location security allows users to be provisioned in Shared Services for read or modify access to each location.
  • C. Locations can share dimension member mappings by specifying a location as a parent location of others.
  • D. The logic account group is required in order to effect running of calculations after the data load.
  • E. Locations must specify an import format, which may be used by other locations.
  • F. Data load rules can be shared across locations.
Answer:

C,E

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Question 2

Which three scenarios result in foreign currency translation during the default consolidation process?

  • A. A parent entity has a different default currency than its parent.
  • B. A parent entity has the same default currency as its parent.
  • C. A base entity has a different default currency than its parent.
  • D. A base entity has the same default currency as its parent.
  • E. A shared entity has a different default currency than its parent
Answer:

A, C, E

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Question 3

Which two statements are true regarding the Copy Data function?

  • A. You can copy data for historical rate and amount overrides.
  • B. You cannot select which Account members to copy.
  • C. You can select which Consolidation dimension member to copy.
  • D. When you select the Regular Data option, journals data is included.
Answer:

A, D

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Explanation:
You can copy these types of data:
Regular Data (including journals)
Override Data rates and amounts entered on the Override Rates form for historical rate override
accounts
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/data_copy.html

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Question 4

Which of the following is allowed for accounts with the data storage type of “Dynamic Calc”?

  • A. Load data to this account.
  • B. Create member formulas.
  • C. Load data to this account and create member formulas.
  • D. Enter data through a data form
Answer:

C

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Question 5

Audit is enabled by default for which task categories?

  • A. Data only
  • B. All task categories
  • C. No task categories
  • D. Metadata Administration and Security
Answer:

A

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Explanation:
Reference:
https://docs.oracle.com/en/cloud/saas/planning-budgeting-cloud/pfusa/audit_overview.html

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Question 6

What information is included in the data extract export file delimited format?

  • A. the ID of the user performing the extract
  • B. the domain and application name
  • C. the data load cube name
  • D. the application name
Answer:

A

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Question 7

When defining a batch in Data Management, which statement is True?

  • A. Each data load rule must specify the period or the batch will default to the POV period.
  • B. Batches can import from source or export to target, but not both.
  • C. Batches can execute data loads for multiple locations.
  • D. A batch replaces the need for data load rules.
  • E. A batch can load to multiple plan types.
Answer:

C

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Question 8

When creating a member mapping for account Sales in Data Management, the following script is
entered. UD5 refers to a Product custom dimension:
WHEN UD5 LIKE CAR_% THEN AUTO_SALES
ELSE SALES
Which statement is True?

  • A. The script can be eliminated by using a multi-dim map on the Product dimension that also looks for the account Sales.
  • B. The script will work if the script is referenced in the In mapping type with #SQL as the target.
  • C. The script will not work since Data Management does not support scripting.
  • D. The script will not work since the UD5 member referenced does not start with FCCS_
  • E. The script will work if the script is referenced in the Explicit mapping type with #SQL as the target.
Answer:

B

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Question 9

How can Metadata be imported into any Financial Consolidation and Close (FCCS) application?

  • A. by selecting Application, then Overview, then Dimensions, and then Export
  • B. by selecting Dimension, then Import, and then Metadata
  • C. by selecting Application, then Overview, then Dimensions, and then Import
  • D. by selecting Tasks, then Metadata, and then Import
Answer:

C

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Question 10

Which statement correctly describes what happens to parent entities during consolidation?

  • A. From each child of the entity, data from the FCCS_Contribution Consolidation dimension member is added together and stored in the FCCS_Entity Consolidation member of the entity.
  • B. The changes in the relational database are synced to the underlying Essbase cube.
  • C. Since parent entities are tagged as dynamic calc, the consolidation has no effect on the entity dimension.
  • D. The data in the FCCS_Intercompany Eliminations Data Source dimension member is subtracted from the FCCS_TotalInputAndAdjusted Data Source dimension member for each descendant and then added together.
Answer:

A

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Question 11

Which statement explains why, in the Consolidation dimension, the data for an entity in the
FCCS_Entity Input
member might be different than the data in the FCCS_Proportion member?

  • A. A rate was entered into the FCCS_Rate Override account.
  • B. An ownership percentage for the entity other than 100 was entered.
  • C. An intercompany elimination was performed.
  • D. The parent entity has a different currency than the child.
Answer:

C

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Question 12

You have created a navigation flow named Analysts that should be the default navigation for users in
the Analysts user group.
How can the Analysts navigation flow be made the default for the Analysts user group?

  • A. In the Analysts navigation flow, select the Analysts user group in the Assign To field.
  • B. In Application Settings, assign Analysts to the Analysts user group in the System Settings section.
  • C. In their User Preferences settings, members of the Analysts user group should select Analysts in the Navigation Flow list.
  • D. Because the navigation flow was given exactly the same name as the user group, it is assigned automatically to the group
Answer:

A

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Explanation:
Assign to assigns the navigation flow to a group of users or to a role.
Reference:
https://docs.oracle.com/en/cloud/saas/planning-budgeting-cloud/pfusa/editing_a_navigation_flow_114xdb21ceb5.html

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Question 13

Which two statements are true about Cash Flow in the Movement dimension?

  • A. When you add a level 0 member to FCCS_Mvmts_Subtotal, it is automatically added as a shared member to the FCCS_CashFlow hierarchy.
  • B. The seeded level 0 members under FCCS_Mvmts_Subtotal are shared members in the FCCS_CashFlow hierarcy.
  • C. You can add shared members to the FCCS_CashChange hierarchy.
  • D. The FCCS_Mvmts_AccountsPayable member is under FCCS_CashFlow_NetAssets in the FCCS_CashFlow hierarchy.
Answer:

A, B

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Question 14

In Financial Close Manager, when would you choose to define tasks in a Template rather than create
a new Schedule each month?

  • A. when the tasks are repeatable over multiple close cycles
  • B. when the tasks require consistent definition across close schedules
  • C. when the tasks are often late in completion and they need to be monitored more closely
  • D. when the tasks require multiple levels of approvers
Answer:

A

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Explanation:
A task template defines a repeatable set of tasks required for a business process. It is used as a basis
for
creating schedules.D18912E1457D5D1DDCBD40AB3BF70D5D
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/cm_templates_managing.html

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Question 15

Which statement is FALSE when setting up Shared Entities?

  • A. The calculation status will not change in all instances when data is changed in one instance.
  • B. The Data Storage Member Property must set to “Dynamic Calc”.
  • C. You build an alternate hierarchy by using partial share Entity members.
  • D. When data is posted to one shared entity, the data is posted to all instances.
Answer:

A

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