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Oracle Risk Management Cloud 2023 Implementation Professional Sample Questions:
1. How do you add values to a Risk Type list of values?
A) Because you cannot add new values, update one of the existing lookup codes to what the client wants it to be.
B) Use the default lookup codes because there is no way to update the existing ones.
C) Populate the Import template with the new values in the Issue Severity column on the Controls tab.
D) Add the lookup codes to the GRC_RISK_TYPE Lookup Type.
E) Add the lookup codes to the GRCM_RISK_TYPE Lookup Type.
2. 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.
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) 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%.
D) You cannot define this model because imported objects from a file cannot be used with delivered objects.
3. You have defined an initial Perspective Hierarchy for your client in the Advanced 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) Navigate to Risk Management Tools > Setup and Administration > Data Migration, and select Advanced Controls.
B) Click the Create Import Template button.V
C) Navigate to Manage Module Perspectives.
D) Generate Template as Without Data - Perspectives Only.
E) Generate Template as Without Data.
4. Your client has configured separate roles for control assessor 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 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.
C) On the Assessment tab in the Control definition, the assessor can select the assessment and click the Complete Assessment button. He or she can attach the document and resubmit the assessment.
D) The assessor can request the reviewer to attach the document during the review.
5. Which three tasks should be completed before starting the Financial Reporting Compliance implementation?
(Choose three.)
A) Migrate the organization's existing risk and control matrix into Financial Reporting Compliance.
B) Create a project plan with objectives, goals, and exit criteria.
C) Plan to go-live with a simple scope and later expand the solution to include additional business units/organizations/compliance frameworks.
D) Identify Financial Reporting Compliance users for everyday use, administration, and sustained use.
E) Complete control review and assessment for one period/cycle with the actual business owners.
Solutions:
| Question # 1 Answer: E | Question # 2 Answer: C | Question # 3 Answer: A,B,D | Question # 4 Answer: B | Question # 5 Answer: A,B,D |
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