Oracle Oracle Certifications 1Z0-511 Questions & Answers

• Question 21:

  A customer needs to enable all employees to enter timecards through the web against projects and tasks. What needs to be implemented to allow time to be recorded in Projects?

  A. Project CostingOracleTime andLaborHuman Resources

  B. OracleTime andLaborPayrollPurchasing

  C. Project CostingProject ManufacturingHuman Resources

  D. Projects Resource ManagementOracleTime and LaborHuman Resources

  E. Project CostingOracle Time and LaborHuman ResourcesPayroll

  Correct Answer: E

  Note:

  * Payroll

  *Time and Labor.

  There are many reports within Oracle Time and Labor to gather data about timecards entered through self-service and to gather data about timecards that you have transferred to the professional forms timecard window.

• Question 22:

  A customer enables transaction controls at the Project level. Oracle Project Costing checks the control when the customer ________.

  A. transfers an expenditure item to another task of the same project

  B. runs the PRC: Distribute Labor Costs concurrent program

  C. runsthe PRC: Transaction Import concurrent program

  D. entersaproject-related invoice distributionin Oracle Payables

  E. enters an online or preapproved expenditureitem

  Correct Answer: E

  Expenditure Item Validation

  When you enter expenditure items, you are charging cost to a project and a task. Oracle Projects validates expenditure items against predefined criteria and any transaction controls and transaction control client extensions that you set up during the implementation.

• Question 23:

  Your company wants to define all its equipments as Non-Labor resources to track the cost incurred on the usage of these equipments, when defining the equipment. When defining the equipment as a Non- Labor resource in the system, you

  need to assign an expenditure type to it. What kind of expenditure type to it.

  What kind of expenditure type can be assigned to a Non-Labor resource?

  A. expenditure type defined withExpenditureType Class as Work in Process

  B. expenditure type defined with ExpenditureType Class as Burden transactions

  C. expenditure type defined withExpenditure Type Class as Supplier Invoices

  D. expenditure type defined with Expenditure Type Class as Miscellaneous Transactions

  E. expenditure type defined with Expenditure Type Class as Usages

  Correct Answer: D

  Oracle Projects uses the following expenditure type classes to process non-labor project costs: *Usages - Asset usage costs are interfaced to Oracle General Ledger. *Supplier Invoices - Oracle Payables supplier invoices are interfaced from Oracle Payables to Oracle Projects. *Miscellaneous Transaction - Miscellaneous Transactions are used to track miscellaneous project costs. This expenditure type class is similar to usages. The difference is that, for miscellaneous transactions expenditure items, you are not required to specify a non-labor resource or a non-labor resource organization, as you are for usage expenditure items. Miscellaneous transactions may be used for the following costs: Fixed assets depreciation Allocations Interest charges *Burden Transaction - Burden transactions track burden costs that are calculated in an external system or calculated as separate, summarized transactions. These costs are created as a separate expenditure item that has a burdened cost amount, but has a quantity and raw cost value of zero. Burden transactions are interfaced to Oracle General Ledger. As with any other transaction in Oracle Projects, you can adjust and capitalize burden transactions, or accrue revenue or generate invoices for these transactions. *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.

• Question 24:

  A company requires advance payments for their contract projects. How would they ensure that for specific types of work they always have an advance payment?

  A. Create a specific agreement type and use the advance receipts required extension toensure that theseagreements require advancepayments.

  B. Set the customer profilein Accounts Receivable to require advance payments.

  C. Createa transaction control for specificagreement types to ensure thatadvance paymentsare received.

  D. Entera negative agreement value andfunded amount.

  E. Fund the projects with a dummy agreement.

  Correct Answer: A

  Note:

  *You can set up an agreement to require advance payments by selecting the Advance Required on the agreement. You can also use the Advance Required client extension to determine which agreements require advance payments. On

  these agreements, you can enter funding only up to the amount of advance payments. The ability to change the Advance Required agreement option is controlled by function security.

  *Agreements with Advance Payments

  You can require advance payments on an agreement and record advance payments as they are made. When you generate draft invoices for projects that are funded by the agreement, the advance balance that is displayed on the funding

  summary is reduced. You then interface the invoice to Receivables. The AutoInvoice process in Oracle Receivables reduces the balance on the advance.

• Question 25:

  Which types of rate schedules should be defined to allow rates to be used to generate financial plans?

  A. Job Labor Rates ScheduleNon Labor Rate Schedule

  B. Resource Class SchedulePlanning Rate ScheduleLabor Rates Schedule

  C. Resource Class ScheduleLabor Rates ScheduleNon Labor Rate Schedule

  D. ResourceClass SchedulePlanning Rate ScheduleNon LaborRates Schedule

  Correct Answer: C

  Defining Rate Schedules

  You can define four types of rate schedules. The following table lists the four types of rate schedules and indicates how you can use each rate schedule type in Oracle Projects.

  

  Note:

  *If you select the option to use planning rates, then you can choose the cost and revenue rate schedules to use to generate amounts. If you do not select the option to use planning rates, then Oracle Projects automatically chooses the rate

  schedules that are used to calculate actual cost and revenue (bill) amounts.

• Question 26:

  Identify the correct setup to Integrate Project costing with Oracle Inventory.

  A. In Oracle Inventory, enable Project Cost Collection for each organization.In Oracle Projects, define an expenditure type with class "Inventory."Define the project related transaction source in Oracle Inventory.

  B. Set up Oracle Project Manufacturing.In Oracle Projects, define an expenditure type with class "Inventory."Define the project-relatedtransaction source in Oracle Inventory.

  C. In Oracle Inventory, enable Project Cost Collection for each organization.In Oracle Projects, define an expenditure type with class "Inventory."Define the project-related transaction type in Oracle Inventory.

  D. Oracle Project Manufacturing must be set up.In Oracle Inventory, enable Project Cost Collection for each organization.Define the project-related transaction source inOracle Inventory

  Correct Answer: C

  *Integrating Projects with Inventory without Project ManufacturingYou can implement Inventory to Projects integration so that you can issue from inventory to projects without installing Project Manufacturing. To implement this integration, follow these steps:

  *Oracle Inventory Integration

  The following stepsarerequired for Oracle Inventory integration:

• Question 27:

  An organization has agreed to bill rates based on a person's job, which are updated annually. The rates are recorded on a default bill rate schedule that is attached to each project. An employee has and HR assignment job of Consultant. However, the employee is temporarily working on a project as a Project Manager. What is the correct way to ensure that the employee's time is billed correctly?

  A. Amend the employee's HR assignment to Project Manager.

  B. Add the employee as a separate line to the defaultbill rate schedule.

  C. Use the transaction controlfunctionalityat the project level.

  D. Use the assignment override at the project level.

  E. Use the employee bill rate override at the project level.

  Correct Answer: D

  Job Assignment Overrides You can override both an employee's job assignment and an employee's billing title for this project or lowest level task. When you override an employee's job assignment, the new job assignment determines bill rates for the employee's billing on this project or lowest task (if this task uses job bill rates). You can choose any active job in the Oracle Applications database.

  When you override an employee's primary billing title, the new billing title appears on future invoices for this employee's billing (if this project's labor invoice format displays an employee billing title). Any job assignment override you enter for this project or lowest task takes precedence over any project job assignment override.

• Question 28:

  Your company has set up the burdening functionality to capture the overheads incurred on all projects. They have decided to store these overhead costs as a separate expenditure item on the same project and also charge it to a separate expense account. Which step would you perform to set up the required expense account?

  A. Setup the accountat the expenditure typedefined for the Burden transaction.

  B. Setupthe Total Burdened Cost Credit AutoAccounting function.

  C. Set up the Burden Cost Account AutoAccounting function.

  D. Set up the BurdenCostClearing Account AutoAccountingfunction.

  E. Set up the accountatthe expenditure category defined for the Burden transaction.

  Correct Answer: A

  Storing Burden Costs as a Separate Expenditure Item on the Same Project

  You can choose to hold the burden cost components as a separate expenditure item on the same project. The expenditure items storing the burden cost components are identified with a different expenditure type that is classified by the expenditure type class Burden Transaction.

• Question 29:

  Identity three transactions that can be entered as a pre-approved expenditure batch:

  A. Burden

  B. Supplier Invoices

  C. Usages

  D. Expense Reports

  E. Miscellaneous

  Correct Answer: ADE

  Pre-approved expenditures are timecards, expense reports(D), usage logs, miscellaneous transactions(E), burden transactions(A), inventory transactions, and work in process transactions usually completed on paper and approved by a supervisor. You enter pre-approvedexpenditures into Oracle Projects in batch mode, generally on a weekly basis. After you enter the batches into the system, you submit them for review and then release them for cost distribution.

• Question 30:

  A company has multi-currency projects and tasks. What is the hierarchy in which the currency attributes are allocated to a transaction?

  A. Project,Task

  B. Implementation Options, Project,Task

  C. Task,Project, Implementation Options

  D. Task,Implementation Options, Project

  Correct Answer: B

  Note:

  Setting up Multi-Currency Transactions

  To set up your system to process multi-currency transactions, perform the following steps:

  *Implementation Options

  Use the Currency Implementation Options to control the default values for currency attributes at the operating unit level. Oracle Projects uses the currency attributes to calculate currency exchange rates.

  See: Currency Implementation Options.

  *Currency

  For each project for which you want to process multi-currency transactions, set up the Currency options in the project and task options window. This option enables you to enter default currency attributes for a project. See: Currency, Oracle

  Projects Fundamentals.

  *Cross Charge

  You can use the Cross Charge Options to specify whether the project can accept charges from other operating units. See: Cross Charge Setup, Oracle Projects Fundamentals.

  *Task Currency and Cross Charge Options

  *You can use the Task Currency and Cross Charge Options to override the costing currency conversion attributes and cross charge options in a lowest task. See:

  Currency, Oracle Projects Fundamentals and Cross Charge Setup, Oracle Projects Fundamentals. *Transaction Entry and Transaction Import During Transaction Entry and Transaction Import, you can override the project and task currency attributes. See: Entering Expenditures, Oracle Project Billing User Guide and Currency Conversion Attributes for Imported Transactions, Oracle

  Projects APIs, Client Extensions, and Open Interfaces Reference.