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Exam Code: 1Z0-1058-21
Exam Name: Oracle Risk Management Cloud 2021 Implementation Essentials
Updated: Jul 26, 2026
Q & A: 77 Questions and Answers
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| Section | Weight | Objectives |
|---|---|---|
| Risk Management Core Functions | 25% | - Implement risk response and treatment plans - Perform risk assessment and scoring - Define risk taxonomy and categories - Create and manage risk registers |
| Controls Management | 20% | - Control deficiency management - Control testing and certification - Design and implement control frameworks - Map controls to risks |
| Reporting and Analytics | 10% | - Generate standard and custom reports - Use analytics for risk insights - Create dashboards and visualizations |
| Testing and Implementation Best Practices | 10% | - Plan and execute implementation testing - Data migration considerations - Change management and user adoption |
| Issues and Action Plans | 15% | - Issue remediation and closure - Manage issues lifecycle - Create and track action plans |
| Configuring Oracle Risk Management Cloud | 20% | - Define organization structure and business hierarchy - Configure integration with external systems - Set up the application including users, roles, and security - Implement risk management configurations |
1. 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 whether assessments templates, plans, and completed assessments need to go through a review and approve workflow.
C) Determine if control assessments are planned ahead of time or are run impromptu.
D) Determine the main objectives of deploying the control.
E) Identify the type of assessments included in each assessment cycle.
2. Which two steps are required to set up two levels of approval for new controls, which are added after the initial import? (Choose two.)
A) Identify users who will perform control review and approval.
B) Identify the other roles to be provided for control managers.
C) Identify the organizations or business units for which users will perform review or approval.
D) On the Controls tab of the Import template, set the control state to NEW for each control record.
3. You need to schedule the report "Access Violations by User." Which two steps do you take to create thesaved parameters for the report schedule? (Choose two.)
A) Navigate to Administration Reports.
B) Highlight the report name and click Run Now.
C) Click Save Report Parameters to create savedsettings.
D) Navigate to Scheduling under Setup and Administration.
E) Select Display Scheduled Reports.
4. Your client has three operating units.
What are two ways in which you can exclude an operating unit where there are not enough personnel to allow segregation of duties? (Choose two.)
A) Navigate to the Create Access Global Condition page and create a new condition logic filter, select the operating unit attribute, select the operating unit value, and then perform an exclusion though the advanced options check box.
B) In a model, create a new condition logic filter, select the operating unit attribute, select the operating unit value, and then perform an exclusion though the advanced options check box.
C) In a model, create a new condition logic filter, select the operating unit attribute and select the operating unit value.
D) In a model, create a new condition logic filter, select the within sameoperating unit attribute, select the value yes, and then perform your exclusion though the advanced options check box.
E) Navigate to the Create Access Global Condition page and createa new condition logic filter, select the within same operating unit attribute, select the value yes, and then perform your exclusion though the advanced options check box.
5. Identify the fourstatuses and states in which you can edit an issue's description, assuming you have the necessary privileges to edit the issue. (Choose four.)
A) Status: On Hold; State: In Review
B) Status: Open; State: In Edit
C) Status: On Hold; State: Awaiting Approval
D) Status: Open; State: New
E) Status: Closed; State: Closed - Awaiting Approval
F) Status: Closed; State: Final Close
G) Status: Open; State: Approved
H) Status: On-Hold; State: Reported
Solutions:
| Question # 1 Answer: A,B,C | Question # 2 Answer: A,C | Question # 3 Answer: B,C | Question # 4 Answer: D,E | Question # 5 Answer: A,B,D,G |
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