Oracle Oracle Certifications 1Z0-511 Questions & Answers

• Question 11:

  Identify two ways to ensure that correct class category codes are recorded against relevant projects.

  A. Define as single template that has the class category already defined.

  B. Define the class category as mandatory on relevant project types.

  C. Define the class category as mandatory In the quick entry of the relevant templates.

  D. Define a project status workflow that checks whether the class category is definedbeforechanging a project status.

  E. Includea"Not applicable" code in the class category definition.

  Correct Answer: BC

  B:To define class categories and class codes:

  1.Navigate to the Class Categories and Codes window.

  2.Enter a unique Class Category name and a Description. 3.Specify whether the class category is mandatory for every project you define. Enable if all projects must have a code assigned to this class category. Do not enable if this class

  category is optional. If you do not enable this option, you cannot use this class category in your AutoAccounting rules.

  4.Specify whether you want to use the class category in your AutoAccounting rules. Suggestion: For each project, you can use only one code with one class category for use with AutoAccounting rules. If an AutoAccounting category already

  exists within a particular date range, assign an end date to the existing AutoAccounting category and then create a new one. 5.Specify whether you want to allow entry of only one class code with this class category for a project. Note:

  Defining multiple class codes for one category for a project may affect reporting by class category; defining multiple class codes may cause your numbers to be included more than once. 6.Enter the Name, Description, and Effective Dates for

  each class code.

  7.Save your work.

  C:As part of a project template definition setup, you can choose which Quick Entry fields you want to define. Oracle Projects prompts you to enter information in these Quick Entry fields when you create a new project from a template. Choose

  Quick Entry fields for project information you want to enter (instead of accepting the template default) each time you create a project.

  Order: Enter a number to indicate the sequence in which you want the Quick Entry fields to appear.

  Field name: Choose the fields you want to appear in the Quick Entry window when you create a new project.

  Specification: You enter a specification for the following field names:

  Key Member:Select the project role type to use when creating the key member Classification:Select the class category to use when creating the classification Customer Name: Select the customer relationship to use when creating the project

  customer Prompt: You can enter a field name that is different from the predefined field name to display when you use Quick Entry.

  Required: Choose whether you want to require entry for the Quick Entry field.

• Question 12:

  A company is using Project Billing. To meet their billing requirements, the company has Set up various revenue categories. Identify four places where the company can use these revenue categories in Oracle Project.

  A. Setting upTransaction Controls using Revenue Categories.

  B. GroupingExpenditureTypes by RevenueCategories.

  C. GroupingEventTypeRevenue Categories.

  D. Defining Rate Schedules using Revenue Categories.

  E. Setting up AutoAccountingRules using Revenue Categories.

  F. EnteringBudgets using RevenueCategories.

  Correct Answer: BCEF

  Revenue categories are used for grouping expenditure types(B)and event types(C)for revenue and billing You can use revenue categories for budgeting(F), for reporting purposes, and in your AutoAccounting rules(E). Revenue Categories

  are also used for grouping expenditure types for revenue and billing(B).

  Note:

  *A revenue category describes a source of your organization's revenue. For example, a revenue category with a name such as Labor refers to labor revenue.

• Question 13:

  A project manager wants to create a revenue budget based on the project agreement and allocated funding. How can this be achieved?

  A. by manually creatingarevenue budget

  B. by selecting Funding revaluation in the systemimplementation options.

  C. by selecting the "baseline project without budget" option, which will createa revenue budgetautomatically based on project funding

  D. by selecting Invoiceat top taskfor the project

  E. by setting transaction controls

  Correct Answer: C

  You can automatically create and baseline an Approved Revenue Budget for a project by checking the Baseline Funding without Budget check box in the Project Funding Inquiry window.

  Note:Budget/Fund/Bill at Project or Top Task Level

  You can create a revenue budget, funding source allocation and project agreement, and perform billing at either the project or the top task level. After you have created an allocation line at either level, you cannot change to another level. For example, if you have created a funding allocation for a top task, you cannot create another funding allocation for the same project without entering a top task.

• Question 14:

  You have set up a capital projects "Building Construction" with task "Block A." Which method should be used to capitalize the transactions charged to "Block A" with the expenditure type "Construction Costs" and expense the transactions charged to "Block A" with the expenditure type "Overheads"?

  A. In the Expenditure type setup, mark"Overheads"as Non-capitalizable.

  B. Set up transaction controls at the"Block A"task to make"Overheads"Non-capitalizabale.

  C. Define the"Block A"task as Non-capitalizable.

  D. Exclude"Overheads"from Capitalization in Asset assignments.

  E. Use Asset Lines Processing Extension.

  Correct Answer: B

  Capitalizable to Non-Capitalizable or Non-Capitalizable to Capitalizable

  You can mark a capitalizable expenditure item as non-capitalizable, or vice versa. A capitalizable item can be grouped into an asset line you send to Oracle Assets. A non-capitalizable item cannot become an asset cost in Oracle Assets. You can define tasks as capitalizable or non-capitalizable; you can further specify which items are non- capitalizable using transaction controls.

• Question 15:

  A company has different organization requirements for HR, Payroll, Finance, and Projects. How can the company achieve this?

  A. Byconfiguring a shared organization hierarchy

  B. By configuring separate organization hierarchies for each application

  C. By configuring a shared organization hierarchy forProjects and Payroll

  D. By configuringashared organization hierarchy for Finance and Payroll

  Correct Answer: C

  Note:

  *Organization hierarchies provide a structure for the relationships between the organizations within your enterprise. They enable you to manage expenditure and reporting data and coordinate project- owning organizations. If your organization

  uses business groups, you can create project burdening organization hierarchies for each business group.

  You define an organization hierarchy by telling Oracle Projects which organizations are subordinate to which other organizations. You can define one organization hierarchy or several, depending on the needs of your enterprise.

  *The organizations and organization hierarchies of an enterprise are closely interrelated with the policies and procedures of that enterprise. To configure Oracle Projects to meet your business requirements, you must make critical

  implementation decisions regarding how you set up your organizations in Oracle Projects.

  Organizations are departments, sections, divisions, companies, or other organizational units in your enterprise. You can gather collections of organizations into organization hierarchies. Organization hierarchies make it easier to manage

  expenditure and reporting data and coordinate the project-owning organizations within your enterprise.

• Question 16:

  Which three options would result in a billing event being excluded from an invoice?

  A. No taskisassigned to the event.

  B. No event date has been entered.

  C. The event dateis later than the invoice date when the process for draftinvoicegeneration issubmitted.

  D. The event has been placed on hold.

  E. No revenue amount has been entered on the event.

  Correct Answer: BCE

  Note:

  *Events: To be included on an invoice, an event must meet the following criteria:

  /Event must not be already invoiced

  / (C)Event completion date must be on or before the bill through date

  /Event must be revenue distributed (for write-on revenue events only)

  /If the Date-Effective Funds Consumption option is selected, then the event date must be within the agreement start and expiration dates

  *Billing Events: Billing events are events for which there is no associated revenue. Because billing events have not accrued revenue against an agreement, a billing event can be billed against any agreement that has sufficient funding to

  cover the entire amount of the event (unless an agreement was specified on the event).

• Question 17:

  In a manufacturing company, there is a need to define 50 different jobs for engineers in Human Resources. For those 50 jobs, Oracle Projects has only 20 equivalent jobs for Billing. What functionality do you use to link these Human Resources and Projects jobs?

  A. Job Groups

  B. Job Families

  C. Job Mapping

  D. JobLevels

  E. Job Hierarchy

  Correct Answer: A

  Organizations within your enterprise are not required to use the same job definitions. You can define job groups for specific purposes and define unique jobs for each group. You can then map a job from one group to a job in another group. For example, the job titles you need for your European operating units may be different from the job titles you need for your U.S. operating units. For global projects you can define a global job set and map your European and U.S. jobs to the appropriate global jobs. These global jobs can then be used by your global projects to provide accurate and consistent billing and reporting.

• Question 18:

  You implement Project Manufacturing along with Project Costing for manufacturing company. You define various expenditure types in which few are specific to Project Manufacturing. Identify the three setups that are required to have an expenditure type specific to Project Manufacturing.

  A. Rate Required is enabled for theExpenditureType.

  B. "Work In Process" class is associated with the Expenditure Type.

  C. "Miscellaneous transactions" classis associated with the Expenditure Type.

  D. "Inventory" class is associated with the ExpenditureType.

  E. Rate Required Is not enabled for the Expenditure Type.

  Correct Answer: ABD

  B:Work In Process - This expenditure type class is used for Project Manufacturing WIP transactions that are interfaced from Manufacturing to Oracle Projects. You can also use this expenditure type class when you import other manufacturing

  costs via Transaction Import or when you enter transactions via pre-approved batch entry.

  D:Inventory - This expenditure type class is used for the following transactions:

  Project Manufacturing transactions that are interfaced from Manufacturing or Inventory to Oracle Projects. Oracle Inventory Issues and Receipts that are interfaced from Oracle Inventory to Oracle Projects in a manufacturing or non-

  manufacturing installation. You can also use this expenditure type class when you import other manufacturing costs via Transaction Import or when you enter transactions via pre-approved batch entry.

  Note:

  *If the Rate Required option for the selected expenditure type is enabled in Oracle Projects, then you must enter a quantity. When you interface the invoice distribution toOracle Projects, Oracle Projects copies the quantity and amount to the

  expenditure item and calculates the rate. If Rate Required option for the selected expenditure type is disabled, then the quantity of the expenditure item is set to the amount you enter in Oracle Payables.

• Question 19:

  Your company has two separate expenditure types to capture straight time and overtime labor transactions across all projects. When running cost distribution for labor transactions, the straight time labor must be charged to a labor expense account and overtime labor costs to an overhead expense account. How would you set up two different expense accounts?

  A. Set up the account at theExpendituretype definition.

  B. Define an AutoAccounting rule to derive account based on expenditure and attach it the AutoAccounting function "Labor Cost Account."

  C. Define an AutoAccounting rule to derive account based on expenditure and attach it the AutoAccounting function "Labor Cost Clearing Account."

  D. Set up the account at the Expenditure type usage definition.

  E. Set up the account at the Labor costing rule definition.

  Correct Answer: B

  Implement AutoAccounting to charge appropriate expense accounts

  When you implement AutoAccounting, you can charge straight time costs to a labor expense account and overtime costs to an overhead or overtime expense account. To charge straight time and overtime to different accounts, you define an AutoAccounting rule based on expenditure type, expenditure category, service type, compensation rule, or labor cost multiplier.

  Note: *Labor Cost Account Function When you run the PRC: Distribute Labor Costs process, Oracle Projects calculates labor cost amounts based upon employee labor cost rates and compensation rules. After calculating labor costs, Oracle Projects uses the Labor Cost Account transactions to debit an expense account for raw labor costs. *You need to define at least one overtime expenditure type. You use the Expenditure Types window to define overtime expenditure types classified by the Overtime expenditure type class.

• Question 20:

  Which three statements are true about Multi-Currency Billing?

  A. Agreements, Events, and Bill Rates have to be in the same current as the Project Functional Currency.

  B. Agreements,Events, and Bill Rates can all be different currencies than the ProjectFunctionalCurrency.

  C. The Project Currency can be different from theFunctional Currency of the operating unitthat owns the project.

  D. The ProjectCurrency has tobe the same as the Functional Currency of the operating unit that owns the project.

  E. An agreementcan fund invoices in more than one currency.

  Correct Answer: BCE

  C:The multi-currency billing option can be set both at the operating unit level and at the project level. To enter agreements and rate schedules in any currency for a project, you must enable the multi- currency billing functionality for the

  operating unit. To enter events in any currency for a project, you can enable the functionality at the project level only. This value defaults from the project template You can override the default value for an individual project template or project.

  Note:

  Oracle Projects gives you the option to bill in a global environment when the multi-currency billing is enabled for an operating unit and for a project. When multi- currency billing is enabled, you can:

  *Enter agreements, bill rates, and events in any currency regardless of the project functional currency(B)

  *Designate the project functional currency, project currency, or funding currency as the invoice processing currency for a project *Designate the project functional currency and the invoice transaction currency as the revenue transaction

  currency

  *Define currency conversion attributes for converting revenue and invoicing amounts to the project currency, project functional currency, and funding currency

  *Define currency conversion attributes for converting funding amounts to the project functional currency, and the project currency

  *Define a default invoice currency for a project customer that is different from the project functional currency and assign conversion attributes for deriving revenue in this currency