1z0-958: Oracle Risk Management Cloud 2018 Implementation Essentials

Which three are true about implementing a best practice solution for Financial Reporting Compliance? (Choose three.)

Large scope of project requires high effort for maintenance and administration.
It promotes rapid implementation and go-live.
It promotes go-live with minimal acceptance testing and user training.
It provides maximum return on investment with minimum project risk.
It promotes successful adoption and minimizes on-going cost of operation.

Correct answer: BDE

Explanation:

Reference: https://www.slideshare.net/DaneRoberts/oow16-implement-the-best-practice-for-oracle-financial-reporting-compliance-cloud

Which controls can user A manage for the following Control Manager role Configuration? See details of perspective trees and control-perspective association below.

All controls
Controls 2 and 4
Controls 1, 2, and 4
None
Controls 1 and 2

Correct answer: E

Which filter can be used to identify expense reports that contain suspicious expense type combinations, such as, a report for a single trip that contains taxi, car rental, and mileage expenses?

Inclusive function filter grouped by the “Expense Report Information” object’s “Report Number” where the “Expense Type” has an “Equals” condition for values that include taxi, car, mileage.
Inclusive function filter grouped by the “Expense Report Information” object’s “Report Number” where the “Expense Type” has an “In” condition for values that include taxi, car, mileage.
Inclusive function filter grouped by the “Expense Report Information” object’s “Person” where the “Expense Type” has an “In” condition for values that include taxi, car, mileage.
Inclusive function filter grouped by the “Expense Report Information” object’s “Report Number” where the “Expense Type” has an “In” condition for values that include taxi, car, mileage.
Inclusive function filter grouped by the “Expense Report Information” object’s “Person” where the “Expense Type” has an “In” condition for values that include taxi, car, mileage.

Correct answer: D

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?

The “Payables Invoice” object’s “Invoice Date” attribute is greater than the “Expense Report Credit Card Transaction” object’s “Transaction Date” attribute.
The “Expense Report Credit Card Transaction” object’s “Last Updated Date” attribute is greater than the “Relative Value” of 3 months.
The “Expense Report Credit Card Transaction” object’s “Transaction Date” attribute is not blank.
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.

Correct answer: D

Which two would need to happen in order for Advanced Access Controls (AAC) to automatically assign a status of “Closed” to an access incident? (Choose two.)

The incident is resolved in Fusion Cloud and a subsequent evaluation of controls finds that the incident no longer exists.
A global condition was added that resolves the conflict and a subsequent evaluation of controls finds that the incident no longer exists.
A user sets the State of the incident to “Remediate”.
The incident is resolved using simulation in AAC and a subsequent evaluation of controls finds that the incident no longer exists.
A user sets the Status of the incident to “Resolved”.

Correct answer: AC

When running Synchronize Transaction from the Data Sources page of Application Configurations, which statement is true when you have two models using invoice and payment business objects?

One job will run for the two objects based on transactions dated before the Transaction Created As of Date.
One job will run for the two objects and the Transaction Created As of Date has no impact on the data.
One job will run for the two objects based on transactions dated after the Transaction Created As of Date.
Two jobs will run for the two objects based on transactions dated after the Transaction Created As of Date.

Correct answer: C

After generating an XML file export of Advanced Controls perspectives, you receive a message that the export job has been generated.

What are the three steps you need to perform in order to download and review the formatted export file? (Choose three.)

Open with an XML editor, such as Excel.
Navigate to Monitor Jobs and click the message link for the export job.
Click the Item Results link.
Click the Export File button.
Open with an HTML editor.

Correct answer: ABD

Explanation:

Reference: https://docs.oracle.com/en/cloud/saas/risk-management/18c/fauaf/using-advanced-financial-controls.pdf

The internal auditor advised the Control Owner of North America to perform assessment for two P2P controls.

Which three steps can the Control Owner perform to kick-off assessments for only those two controls? (Choose three.)

Initiate a planned assessment that includes all controls assigned to perspective P2P.
Perform impromptu assessments for the two controls.
Enable impromptu assessments during configuration of module objects.
Initiate a planned assessment and include the two controls as part of the same assessment.
Initiate two planned assessments, one for each control.

Correct answer: ACE

What would happen to an access incident in Advanced Access Controls (AAC) that has been remediated and has a status of “Closed,” but poses a conflict again during a subsequent evaluation of controls?

The incident is deferred.
The incident remains in “Closed” status and additional remedial action cannot be taken.
The incident remains in “Closed” status and assigned users receive a notification that additional access incidents have been identified.
The incident is copied and a new incident is created based on the original incident.
The incident status changes to “Assigned.”

Correct answer: CE

A Control Manager has changed the status of an issue to “In Remediation” and has submitted it.

What will be the state of the Issue if there is no issue validator, reviewer, or approver configured?

In Review
Active
Reported
Approved
In Edit

Correct answer: C

Explanation:

Reference: https://download.oracle.com/otn_hosted_doc/logicalapps/grcm_ug_801.pdf (48)

Vendor:	Oracle
Exam Code:	1z0-958
Exam Name:	Oracle Risk Management Cloud 2018 Implementation Essentials
Date:	Sep 17, 2019
File Size:	792 KB

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