PDF (New 2021) Actual Oracle 1Z0-1058-20 Exam Questions
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NEW QUESTION 13
Which three statements are true about the purpose of perspectives? (Choose three.)
- A. Perspectives can be used to represent regional hierarchies.
- B. Perspectives are used to enable data security on Financial Reporting Compliance objects.
- C. Perspectives can be used to define user privileges.
- D. Perspectives enable functional security in Financial Reporting Compliance.
- E. Perspectives can be used for categorizing Financial Reporting Compliance objects.
Answer: A,B,D
NEW QUESTION 14
How do youassociate a risk to a control?
- A. To associate a control to a risk, the control needs to be in the Review state.
- B. The only way to create risk-control associations is through data import.
- C. In the related object section of process definition, add the control tothe risk.
- D. On the Related Objects tab of control definition, add the risk.
- E. On the Related Controls tab of risk definition, add the control.
Answer: E
NEW QUESTION 15
You want to identify Controls with the most Incidents, with the condition that the identified Controlsshould have 80% of all Incidents. To do this, you have imported a custom object that contains the number of incidents associated with each control, and have added that object to a transaction model.
Which pattern filter must you now apply?
- A. Anomaly Detection
- B. Mean
- C. Clustering
- D. Absolute Deviation
- E. Pareto
Answer: E
NEW QUESTION 16
Which three risk assessment activity types areavailable in Financial Reporting Compliance? (Choose three.)
- A. Certify
- B. Audit
- C. Assess Risk
- D. Quantitative Analysis
- E. Qualitative Analysis
- F. Design Review
Answer: A,C,F
NEW QUESTION 17
You need to schedule thereport "Access Violations by User." Which two steps do you take to create the saved parameters for the report schedule? (Choose two.)
- A. Click Save Report Parameters to create saved settings.
- B. Navigate to Administration Reports.
- C. Select Display Scheduled Reports.
- D. Highlight the report name and click Run Now.
- E. Navigate to Scheduling under Setup and Administration.
Answer: A,D
NEW QUESTION 18
You have five business units in our company, BU1 through BU5. You want to build a transaction model to identify suppliers who have been paid more than $100,000 USD across all business units except BU5.
Which two filters must be combined? (Choose two.)
- A. Add a function filter grouping by "Organization ID" where the sum of "Payment Amount" is greater than 100,000.
- B. Add a standard filter where the "Payment" object's "Organization ID" equals BU1, BU2, BU3, BU4.
- C. Add a standard filter where the "Payment" object's "Organization ID" is equal to itself.
- D. Add astandard filter where the "Payment" object's "Organization ID" equals BU5, and advanced option
"Exclude" is checked. - E. Add a function filter grouping by "Supplier ID" where the sum of "Payment Amount" is greater than
100,000.
Answer: A,B
NEW QUESTION 19
The control manager needs to associate an existing test plan to an additional assessment type, Audit Test. The existing test plan is associated only with the Design Review assessment type.
How canthis be accomplished?
- A. The control manager should create a new test plan with Audit Test and Design Review as assessment types.
- B. The control's test plan should be updated to include both Audit Test and Design Review as assessment types.
- C. The control's test plan should be updated to Audit Test as the assessment type.
- D. The controlmanager does not need to update the control because any initiated assessment will include all control test plans.
Answer: B
NEW QUESTION 20
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 Review
- B. Reported
- C. Active
- D. Approved
- E. In Edit
Answer: B
NEW QUESTION 21
Your client has asked you to define a transaction model to identify duplicate invoices based on Invoice Numbers and Invoice Amounts.
Which twostandard filters can be combined to accomplish this? (Choose two.)
- A. The "Payables Invoice" object's "Invoice ID" is similar to the "Payables Invoice" object's "Invoice Number".
- B. The "Payables Invoice" object's "Invoice Number" is equal to itself.
- C. The "Payables Invoice" object's "Invoice Number" is equal to the "Payables Invoice" object's "Invoice ID."
- D. The "Payables Invoice" object's "Invoice Amount" is equal to itself.
- E. The "Payables Invoice" object's "Supplier ID" does not equal itself.
Answer: C,E
NEW QUESTION 22
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 with three condition filters where the Function Name Equals "Create Supplier",
"Create Invoice" and"Create Payment" - B. Construct one model: "Create Supplier & Create Invoice & Create Payment"
- C. Construct two models, and create controls based on the models: "Create Supplier & Create Invoice",
"Create Invoice & Create Payment" - D. Construct one entitlement: "Create Supplier & Create Invoice & Create Payment"
- E. Construct three controls, and create controls based on the models: "Create Supplier & Create Invoice",
"Create Invoice & Create Payment", "Create Supplier & Create Payment"
Answer: B
NEW QUESTION 23
Which three steps can be performed by using the Configure Module Objects pages? (Choose three.)
- A. Set "object-perspective" association.
- B. Edit the assessment activity question and guidance text for all assessment types.
- C. Viewassessment response details for all assessment types.
- D. Create object data import templates.
- E. Choose display (or hide)configurable options for: results, events, consequences and treatments.
Answer: A,C,E
NEW QUESTION 24
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 25
Whichthree objects can be related to issues when creating an issue on the Manage Issues page? (Choose three.)
- A. Risks
- B. Processes
- C. Controls
- D. Test Plans
- E. Assessments
- F. Perspectives
Answer: A,B,C
NEW QUESTION 26
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 27
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. Navigate to Risk Management Tools > Setup and Administration > Data Migration, and select Advanced Controls.
- B. Navigate to Manage Module Perspectives.
- C. Generate Template as Without Data - Perspectives Only.
- D. Generate Template as Without Data.
- E. Click the Create Import Template button.
Answer: A,B,D
NEW QUESTION 28
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 29
Identify the four statuses 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: Open; State: In Edit
- B. Status: Closed; State: Closed - Awaiting Approval
- C. Status: On Hold; State: In Review
- D. Status: On Hold; State: Awaiting Approval
- E. Status: On-Hold; State: Reported
- F. Status: Closed; State: Final Close
- G. Status: Open; State: Approved
- H. Status: Open; State: New
Answer: A,C,G,H
NEW QUESTION 30
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 31
You are helping your client identify and define their controls. Youhave determined that your client requires two perspectives: Business Units and Regulatory Standards.
The controls are going to be secured by the business unit, and you want to ensure that when the client defines new controls, it is mandatory to assign a Business Units perspective to the control. You are going to set the
"Required" field to "yes" for the Control-Business Units association.
Where do you do this in the product?
- A. The Manage Module Perspectives screen
- B. The Create Control screen
- C. The Manage Object Perspectives screen
- D. The Create Perspectives screen
- E. TheImport template
Answer: D
NEW QUESTION 32
You are validating your customer's import template before import. The customer requires that all controls be set up so they are noted to be used for the Audit Test assessment type. How do you verify that this has been done?
- A. The Control status filed is set to "Audit Test."
- B. The Control has a related process.
- C. The Assessment Flag and the Audit Testing Flag are both set to "Y."
- D. The Control comment filed has a notation for "Audit Test."
Answer: B
NEW QUESTION 33
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 34
Select three fields that are required to create an impromptu assessment. (Choose three.)
- A. Reviewer
- B. Name
- C. Activity
- D. Template
- E. Due Date
- F. Perspectives
Answer: B,D,E
NEW QUESTION 35
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