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Oracle 1z0-1058-22 Oracle Risk Management Cloud 2022 Implementation Professional Exam Practice Test

Demo: 11 questions
Total 74 questions
Get 1z0-1058-22 Full Access Download 1z0-1058-22 PDF

Oracle Risk Management Cloud 2022 Implementation Professional Questions and Answers

Question 1

Which three statements are true about the purpose of perspectives? (Choose three.)

Options:

A.

Perspectives can be used to define user privileges.

B.

Perspectives can be used for categorizing Financial Reporting Compliance objects.

C.

Perspectives can be used to represent regional hierarchies.

D.

Perspectives are used to enable data security on Financial Reporting Compliance objects.

E.

Perspectives enable functional security in Financial Reporting Compliance.

Question 2

A user has created and submitted a new control and the state of the control is “In Review.” The user expected that the control state would change to “Approved.”

Why is the control not in the “Approved” state?

Options:

A.

This user is not a Control Approver; therefore, the status will be “In Review.”

B.

The Control Reviewer role has been assigned to some users.

C.

New controls must always be reviewed, irrespective of security configuration.

D.

The Control Approver role has been assigned to someusers.

Question 3

The GRC Business owner responsible for reviewing and investigating access incidents related to the “Order to Cash” perspective does not see any worklists for the generated results. You have validated that:

1. Other business owners are able to view their assigned worklists without any problem

2. Incidents have been generated for the controls related to Order to Cash

3. The business owner’s assigned roles contain the correct functional privileges and data access to the correct perspective values

What is the reason the business owner cannot see any worklists for the generated incidents?

Options:

A.

The Result Management Perspective Assignment has not been linked.

B.

The underlying model is not linked to Order to Cash.

C.

The business owner was recently assigned the role and the worklist needs to be refreshed.

D.

Worklist assignment does not include the business owner.

E.

The Control Perspectives are not linked to the control.

Question 4

Which two options can be assigned to a duty role? (Choose two.)

Options:

A.

Functional Security Policy

B.

Abstract Role

C.

Data Security Policy

D.

Job Role

Question 5

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

Options:

A.

Identify if your client wants to review and/or approve new perspectives or changes made to existing perspectives.

B.

Identify lookupvalues that need to be created for Control, Risk, and Issue Type fields.

C.

Identify users who will be responsible for creating and maintaining perspectives, both for security as well as reporting.

D.

Identify users who will be responsible for creating andmaintaining controls and/or risks.

Question 6

An organization has a list of companies with which they no longer wish to do business. The list is not stored in their ERP Could but is stored in a file.

Whichtransaction model will identify payments made to these companies?

Options:

A.

Create an Imported business object that can be used in conjunction with Oracle’s pre-built “Payment” object. One both objects are in your model, add this standard filter: the “Payment” object’s “Remit to Supplier Name” is similar to the custom object’s “Company Name” by 95%.

B.

Add a configurable attribute “Company Name” to Oracle’s pre-built “Payment” object. Then add this standard filter: “Remit to Supplier Name” equals “Company Name”.

C.

You cannot define this model because imported objects from a file cannot be used with delivered objects.

D.

Create an Imported business object that can be used in conjunction with Oracle’s pre-built “Payables Invoice” object. Once both objects are in your model, add this standard filter: the “Payables Invoice” object’s “Supplier Name” equals the custom object’s “Company Name”.

Question 7

You are implementing Advanced Financial Controls and you want to identify suspect transactions where the payment amount is less than $20 USD. However, you only want the results returned to be temporary.

What will you build in order to accomplish your objective?

Options:

A.

Template

B.

Control

C.

Model

D.

Filter

E.

Business object

Question 8

You completed the data migration successfully. You created 100 controls, an Organization Perspective, and relationship of controls to the Organization Perspective. All controls are related to one perspective item. The Control Manager logs in to the application to view the new controls, yet there are none available for his or her review.

Identify three reasons for this. (Choose three.)

Options:

A.

The Control Manager was not given the correct data security policy to access the controls.

B.

The Perspective Hierarchy was not associated to the Control Object.

C.

There was no Control Type associated with the controls.

D.

The Perspective Hierarchy is not in the Approved state.

E.

No risks were mappedto the imported controls.

Question 9

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

Options:

A.

Due Date

B.

Template

C.

Name

D.

Reviewer

E.

Perspectives

F.

Activity

Question 10

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.)

Options:

A.

Identify the type of assessments included in each assessment cycle.

B.

Understand the sample size for each audit test.

C.

Determine if control assessments are planned ahead of time or are run impromptu.

D.

Determine the main objectives of deploying the control.

E.

Determine whether assessments templates, plans, and completed assessments need to go through a review and approve workflow.

Question 11

Which three tasks should be completed before starting the Financial Reporting Compliance implementation? (Choose three.)

Options:

A.

Migrate the organization’s existing risk and control matrixinto Financial Reporting Compliance.

B.

Complete control review and assessment for one period/cycle with the actual business owners.

C.

Create a project plan with objectives, goals, and exit criteria.

D.

Identify Financial Reporting Compliance users for everyday use, administration, and sustained use.

E.

Plan to go-live with a simple scope and later expand the solution to include additional business units/organizations/compliance frameworks.

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Demo: 11 questions
Total 74 questions
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