1z0-1058-23 by Oracle Valid Free Exam Practice Test

Question 1

Which two should you determine to ensure that your client can successfully maintain and administer Perspectives post go-live? (Choose two.)

A. Identify users who will be responsible for creating and maintaining controls and/or risks. B. Identify users who will be responsible for creating and maintaining perspectives, both for security as well as reporting. C. Identify if your client wants to review and/or approve new perspectives or changes made to existing perspectives. D. Identify lookup values that need to be created for Control, Risk, and Issue Type fields.

Correct Answer: A,B

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Question 2

Select three fields that are required to create an impromptu assessment. (Choose three.)

A. Template B. Activity C. Perspectives D. Due Date E. Name F. Reviewer

Correct Answer: D,E,F

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Question 3

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

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

Correct Answer: D,F

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Question 4

How do you associate a risk to a control?

A. To associate a control to a risk, the control needs to be in the Review state. B. The only way to create risk-control associations is through data import. C. In the related object section of process definition, add the control to the risk. D. On the Related Controls tab of risk definition, add the control. E. On the Related Objects tab of control definition, add the risk.

Correct Answer: E

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Question 5

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 "Expense Report Credit Card Transaction" object's "Transaction Date" attribute is not blank. B. The "Expense Report Credit Card Transaction" object's "Last Updated Date" attribute is greater than the "Relative Value" of 3 months. C. The "Payables Invoice" object's "Invoice Date" attribute is greater than the "Expense Report Credit Card Transaction" object's "Transaction Date" attribute. 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.

Correct Answer: D

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Question 6

During implementation, you created a risk object and successfully mapped it to a control object. The client's Risk Owner is able to access the risk but not the control.
Why did this happen?

A. The risk and control objects are inactive and need to be made active. B. The Risk Administrator needs to run the synchronize jobs to populate the mapping. C. The Risk Owner account is inactive. D. The Risk Owner role does not have the right privileges.

Correct Answer: D

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Question 7

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

Correct Answer: A

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Question 8

You are gathering requirements on how your client performs control assessments. Which three tasks should you complete to set up assessments in Financial Reporting Compliance? (Choose three.)

A. Understand the sample size for each audit test. B. Determine the main objectives of deploying the control. C. Determine if control assessments are planned ahead of time or are run impromptu. D. Identify the type of assessments included in each assessment cycle. E. Determine whether assessments templates, plans, and completed assessments need to go through a review and approve workflow.

Correct Answer: C,D,E

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Oracle Risk Management Cloud 2023 Implementation Professional - 1z0-1058-23 Exam Practice Test