1Z0-1058-20 Practice Test Questions Updated 77 Questions
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NEW QUESTION 29
The internal auditor advised the Control Owner of North America to perform assessment for two P2P controls.
Which three steps can the Control Owner perform to kick-off assessments for only those two controls?
(Choose three.)
- A. Initiate two planned assessments, one for each control.
- B. Enable impromptu assessments during configuration of module objects.
- C. Initiate a planned assessment and include the two controls as part of the same assessment.
- D. Perform impromptu assessments for the two controls.
- E. Initiate a planned assessment that includes all controls assigned toperspective P2P.
Answer: A,B,E
NEW QUESTION 30
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 Owner account is inactive.
- C. The Risk Owner role does not have the rightprivileges.
- D. The Risk Administrator needs to run the synchronize jobs to populate the mapping.
Answer: C
NEW QUESTION 31
You have created a risk definition R100 and have created a new control C100 for this risk. No user has been assigned the Risk or Control reviewer and approver roles. What will be the state of R100 and C100 after submitting?
- A. BothR100 and C100 will be in the "New" state.
- B. Both R100 and C100 will be in the "Awaiting Approval" state.
- C. Both R100 and C100 will be in the "In Review" state.
- D. Both R100 and C100 will be in the "Approved" state.
Answer: B
NEW QUESTION 32
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. 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%.
- B. You cannot define this model because imported objects from a file cannot be used with delivered objects.
- C. 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".
- 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".
Answer: D
NEW QUESTION 33
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. .xlsx
- B. .txt
- C. .pdf
- D. .doc
- E. .xml
Answer: E
NEW QUESTION 34
Which two filters must be combined to identify different suppliers who use the same taxpayer ID? (Choose two.)
- A. Standard filter where the "Supplier" object's "Allow Withholding Tax" is not blank.
- B. Function filter grouping by "Taxpayer ID" where count is greater than 1.
- C. Standard filter where the "Supplier" object's "Taxpayer ID" is not blank.
- D. Function filter grouping by "Supplier ID" where count is greater than 1.
- E. Standard filter where the "Supplier" object's "Supplier ID" is equal to itself.
Answer: C,D
NEW QUESTION 35
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 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 perspectives, both for security as well as reporting.
- D. Identify if your client wants to review and/or approve new perspectives or changes made to existing perspectives.
Answer: B,D
NEW QUESTION 36
You have imported risks in Financial Reporting Compliance using data migration. Your client is asking if you can add controls for these risks.
Which two statements are true? (Choose two.)
- A. To relate controls, risks must be assigned to the same perspective that is assigned to the control you want to map it to.
- B. You cannot use the Data Migration tool to add control records to map to existing risks.
- C. You can manually add control definitions and relate them to the risks in Financial Reporting Compliance.
- D. To relate controls to risks, the risks must be in"approved" state.
- E. You can use the Data Migration tool to add control records for the existing risks.
Answer: A,E
NEW QUESTION 37
You are designing data for data import. The customer decided that they want to secure controls based on their company organization.
Which three worksheets of the import template are required to accomplish this requirement? (Choose three.)
- A. Control Test Plans
- B. Perspective-Control
- C. Controls
- D. Perspective Items
Answer: A,C,D
Explanation:
Explanation
References:
NEW QUESTION 38
You are configuring security and you do not want the risks to go through the review and approve process each time they are updated. How will youmeet this requirement?
- A. Add the Risk Reviewer Composite duty role to the person who creates the risks so he or she would be able to review them before saving the record.
- B. Use only the Risk Approver Composite duty role in the configurations so the risks will not go through the review process.
- C. Ensure that no user has been assigned a job role that includes theRisk Reviewer Composite or Risk Approver Composite Duty Role.
- D. Ensure that only the upper management is given the Risk Reviewer Composite duty role so they could review the risks that they want to review.
Answer: B
NEW QUESTION 39
How do you identify Financial Reporting Compliance Cloud's key stakeholders?
- A. Identify users who will create customer invoices, and receive and apply customer payments.
- B. Identify executives who need to certify internal controls for SOX or similar mandates.
- C. Identify users who need tocreate and submit expense reports easily.
- D. Identify executives who will manage customer balances and recognize revenue.
Answer: D
NEW QUESTION 40
How do you add values to a Risk Type list of values?
- A. Populate the Import template with the new values in the Issue Severity column on the Controls tab.
- B. Because you cannot add newvalues, update one of the existing lookup codes to what the client wants it to be.
- C. Add the lookup codes to the GRC_RISK_TYPE Lookup Type.
- D. Add the lookup codes to the GRCM_RISK_TYPE Lookup Type.
- E. Use the default lookup codes because there is no way to update the existing ones.
Answer: D
NEW QUESTION 41
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 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 shecan attach the document and resubmit the assessment.
- D. The assessor can request the reviewer to attach the document during the review.
Answer: B
NEW QUESTION 42
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 all controls.
- B. He or she will beable to review only results of prior operational assessments for this control.
- C. He or she will be able to review results of all prior assessments of all types for this control.
- D. He or she will be able to review results of all prior Audit tests and operational assessments for this control.
- E. He or she will be able to review results of all prior operational assessments for all controls.
Answer: D
NEW QUESTION 43
Which two activities can be performed using Financial Reporting Compliance? (Choose two.)
- A. Provide self-service access to reporting and analysis against financial transactions.
- B. Conduct intuitive audits of general ledger balances with journal details.
- C. Gain real-time access to live financial data and proactively resolve issues.
- D. Review control assessment results, along with any effectiveness issues found.
- E. Review and approve the accuracy and completeness of control descriptions.
- F. Continuously monitor financial transactions and role-based remediation of transaction incidents.
Answer: E,F
NEW QUESTION 44
When you view or edit a transaction incident, you may seeextra columns that are not present in the business objects used in the control.
What three kinds of control logic or conditions can cause this? (Choose three.)
- A. Between (when using a date attribute)
- B. Not in
- C. Average Function
- D. Equals (when the same attribute is used on both sides of the condition)
- E. Similar
Answer: A,B,C
NEW QUESTION 45
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 thatidentify 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 "Payables Invoice" object's "Invoice Date" attribute is similar to the "Expense Report Credit Card Transaction" object's "Transaction Date" attribute within +/- 10 days.
- C. The "Expense Report Credit Card Transaction" object's "Last Updated Date" attribute is greater than the "Relative Value" of 3 months.
- D. The "Payables Invoice" object's "Invoice Date" attribute is greater than the "ExpenseReport Credit Card Transaction" object's "Transaction Date" attribute.
Answer: B
NEW QUESTION 46
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