1Z0-1058-20 Training & Certification Get Latest Oracle Risk Management Cloud Updated on Aug 18, 2021
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NEW QUESTION 16
You have defined an initial Perspective Hierarchy for your client in theAdvanced Controls module. After refining their business requirements, your client wants to expand the existing hierarchy to include 150 perspective items in various levels. For efficient processing, you decide to use the GRC data migration feature to import the new items.
Which three are valid processing steps required to define the export file? (Choose three.)
- A. Generate Template as Without Data.
- B. Click the Create Import Template button.
- C. Navigate to Manage Module Perspectives.
- D. Generate Template as Without Data - Perspectives Only.
- E. Navigate to Risk Management Tools > Setup and Administration > Data Migration, and select Advanced Controls.
Answer: A,C,E
NEW QUESTION 17
After adding a new control in Financial Reporting Compliance, the control owner clicks Submit. Users with theControl Reviewer and Control Approver roles exist.
What is the expected outcome?
- A. The control goes into the "New" state.
- B. The control goes into the "In Review" state.
- C. The control goes into the "Approved" state.
- D. The control goes into the "Waiting for Approval" state.
Answer: B
NEW QUESTION 18
During implementation, you created a Financial ReportingCompliance superuser and assigned this user the following roles:
* Enterprise Risk and Control Manager
* IT Security Manager
* Employee
The superuser logs in to Financial Reporting Compliance but is not able to create new Data Security Policies.
What is wrong?
- A. The application will not allow a user to both create users and assign them roles.
- B. The superuser's account is not yet approved by his or her supervisor in Financial Reporting Compliance.
- C. The superuser's account is inactive and his or her account needs to be activated.
- D. The superuser's account is created but the synchronization jobs have not been run.
Answer: D
NEW QUESTION 19
Select three fields that are required to create an impromptu assessment. (Choose three.)
- A. Due Date
- B. Activity
- C. Reviewer
- D. Name
- E. Perspectives
- F. Template
Answer: A,D,F
NEW QUESTION 20
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 isstored in a file.
Which transaction model will identify payments made to these companies?
- A. 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".
- B. 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".
- 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 "Payment" object. One both objects are in your model, add this standardfilter: the "Payment" object's "Remit to Supplier Name" is similar to the custom object's "Company Name" by 95%.
Answer: B
NEW QUESTION 21
How do you identify Financial Reporting Compliance Cloud's key stakeholders?
- A. Identify executives who need to certify internal controls for SOX or similar mandates.
- B. Identify executives who will manage customer balances and recognize revenue.
- C. Identify users who need tocreate and submit expense reports easily.
- D. Identify users who will create customer invoices, and receive and apply customer payments.
Answer: B
NEW QUESTION 22
Your client is configuring their Test pod (which has no data) and has created their initial importtemplate with controls, test plans, perspectives, and perspective-control mappings. They have used custom list of values for Control Frequency.
Which three tasks must be completed before performing the data import? (Choose three.)
- A. Validate that there are no duplicate worksheet IDs within the same worksheet.
- B. Validate that all nods on the Perspective Item tab are covered on the Perspective Hierarchy tab.
- C. Validate that new lookup values are created for any custom list of values.
- D. Validate that the System ID column is populated correctly.
- E. Validate that the control-perspective relationship has been created in Manage Module Perspectives.
Answer: B,C,D
NEW QUESTION 23
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?
- A. Worklist assignment does not include the business owner.
- B. The business owner was recently assigned the role and the worklist needs to be refreshed.
- C. The Result Management Perspective Assignment has not been linked.
- D. The underlying model is not linked to Order to Cash.
- E. The Control Perspectives are not linked to the control.
Answer: A
NEW QUESTION 24
You are implementing Advanced Access Controls for a client. You need to create a model that returns users who have been assigned a specified access point but excludes a specific operating unit.
Which business object(s) do you need to add to your model to accomplish this objective?
- A. Access Entitlement
- B. Access Point and User Business Object
- C. Access Point and Fusion Access Condition
- D. Fusion Access Condition
- E. Access Point
Answer: A
NEW QUESTION 25
Whichthree objects can be related to issues when creating an issue on the Manage Issues page? (Choose three.)
- A. Risks
- B. Controls
- C. Processes
- D. Perspectives
- E. Test Plans
- F. Assessments
Answer: A,B,C
NEW QUESTION 26
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 rightprivileges.
Answer: D
NEW QUESTION 27
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, carrental, and mileage expenses?
- A. 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. - B. 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.
- C. 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.
- D. 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.
- E. 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.
Answer: B
NEW QUESTION 28
Which statement related to Advanced Access Controls is true?
- A. If helps enforce segregation of duties.
- B. If helpsperform risk analysis and evaluation.
- C. It analyzes transaction records.
- D. It documents risks and controls.
Answer: A
NEW QUESTION 29
An assessor is trying to complete an operational assessment on a control for manual AP Invoice entry and is reviewing Prior Results.
Which statement is true about viewing Prior Results for this control?
- A. He or she will be able to review results of all prior assessments of all types for this control.
- B. He or she will be able to review results of all prior operational assessments for all controls.
- C. He or she will be able to review results of all prior assessments of all types for all controls.
- D. He or she will beable to review only results of prior operational assessments for this control.
- E. He or she will be able to review results of all prior Audit tests and operational assessments for this control.
Answer: E
NEW QUESTION 30
A Control Manager has changed thestatus 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?
- A. In Edit
- B. Approved
- C. Active
- D. In Review
- E. Reported
Answer: E
NEW QUESTION 31
Your client has configured separate roles for controlassessor and control assessment reviewer. The control assessor has submitted his or her assessment. The control assessor realizes later that he or she has forgotten to attach a critical test evidence document to the assessment and needs to attach it now.
How can this be accomplished?
- A. The assessor can request the reviewer to reject the assessment. After the assessment is rejected, the assessor can then attach the document and resubmit the assessment.
- B. On the Assessment tab in the Control definition, the assessor can select the assessment and click the Complete Assessment button. He or shecan attach the document and resubmit the assessment.
- C. On the Manage Assessments page, the assessor can select the assessment and click the Reopen button.
He or she can then attach the document and resubmit the assessment. - D. The assessor can request the reviewer to attach the document during the review.
Answer: C
NEW QUESTION 32
Which three risk assessment activity types areavailable in Financial Reporting Compliance? (Choose three.)
- A. Qualitative Analysis
- B. Audit
- C. Quantitative Analysis
- D. Design Review
- E. Assess Risk
- F. Certify
Answer: D,E,F
NEW QUESTION 33
Which two should you determine to ensure that your client can successfully maintain and administer Perspectives post go-live? (Choose two.)
- A. Identify if your client wants to review and/or approve new perspectives or changes made to existing perspectives.
- B. Identify lookup values that need to be created for Control, Risk, and Issue Type fields.
- C. Identify users who will be responsible for creating and maintaining controls and/or risks.
- D. Identify users who will be responsible for creating and maintaining perspectives, both for security as well as reporting.
Answer: A,B
NEW QUESTION 34
You have two segregation of duties requirements:
1) a user can access either the supplier creation pages or the invoice pages, but not both.
2) a user can access either theinvoice creation pages or the payment creation pages, but not both.
How must these requirements be met in Advanced Access Controls?
- A. Construct one model: "Create Supplier & Create Invoice & Create Payment"
- B. Construct one entitlement: "Create Supplier & Create Invoice & Create Payment"
- C. Construct three controls, and create controls based on the models: "Create Supplier & Create Invoice",
"Create Invoice & Create Payment", "Create Supplier & Create Payment" - D. Construct one model with three condition filters where the Function Name Equals "Create Supplier",
"Create Invoice" and"Create Payment" - E. Construct two models, and create controls based on the models: "Create Supplier & Create Invoice",
"Create Invoice & Create Payment"
Answer: A
NEW QUESTION 35
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