Oracle Oracle Certifications 1Z0-1057-23 Questions & Answers

• Question 31:

  Which three can be tracked as Status tracking for Project Invoice Approval Notifications? (Choose three.)

  A. Person assigned for approval

  B. Prior actions

  C. Pre-approval activities

  D. Date-wise updates to the document

  E. Persons with whom it is still pending approval

  Correct Answer: ABE

  Status tracking is a feature that allows you to track the progress and history of project invoice approval notifications. Status tracking provides information such as who approved or rejected the invoice, when and why they took the action, who is currently assigned to approve or reject the invoice, etc. Three of the information that can be tracked as status tracking for project invoice approval notifications are: Person assigned for approval: This shows the name of the person who is currently assigned to approve or reject the invoice notification. Prior actions: This shows the list of actions that have been taken on the invoice notification by previous approvers or rejectors, such as approve, reject, request information, etc. Persons with whom it is still pending approval: This shows the list of persons who are still in the approval chain for the invoice notification and have not taken any action yet. Pre-approval activities and date-wise updates to the document are not information that can be tracked as status tracking for project invoice approval notifications. Pre-approval activities are tasks that need to be performed before submitting an invoice for approval, such as validating or transferring the invoice. Date-wise updates to the document are changes that are made to the invoice document after it has been submitted for approval, such as adjusting or reversing the invoice. Reference: https://docs.oracle.com/en/cloud/saas/project-portfoliomanagement/20c/oapfm/manage-project-invoices.html#OAPFM2356291

• Question 32:

  Your organization has been using project class categories and codes for reporting purposes and is set up at the project level. You recently defined a new project type, Capital-Contract, and created new class categories named Build, Operate, and Transfer (BOT) and Build, Transfer, and Maintain (BTM), with class codes of Yes/No. But on creation of a project, you are unable to associate these class categories and codes.

  Identify two setups that are mandatory for these class categories and codes to be displayed. (Choose two.)

  A. Class codes should be associated with a related set code.

  B. Class categories should be assigned to business unit.

  C. Class categories should be assigned to project type.

  D. Class codes should be assigned to project unit.

  Correct Answer: AC

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-foundation-configuration-manage-project-types.html#OAPFM360164 Topic-Associating Project Types and Class Categories: Examples Project classifications group your projects according to categories and codes that you define. When you associate project classifications with project types, the classification is available for selection on projects with that project type. Use any of the following methods to associate class categories with project types: Add a classification to the project type definition For each classification that you associate with the project type, you can enable the Assign to All Projects option to automatically add the classification to the project definition for all new projects with the project type. When this option is enabled, all projects with this project type must be assigned a class code for the class category. Add a project type to the class category definition Enable the Assign to all Project Types option on the class category definition

• Question 33:

  Which two statements describe how the Resource Qualification Score is calculated?

  A. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource does not have the qualification.

  B. An individual's score is 100% if the resource request has a qualification, but no proficiency is specified, and the resource has the qualification.

  C. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification that meets the specified proficiency.

  D. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification with a proficiency that is lower or higher than specified.

  Correct Answer: BC

  The Resource Qualification Score is a percentage that indicates how well an individual matches the qualifications required for a resource request. An individual's score is 100% if either of the following conditions are met: The resource request has a qualification, but no proficiency is specified, and the resource has the qualification. This means that any level of proficiency is acceptable for the qualification. The resource request has a qualification with a specified proficiency and the resource has the qualification that meets the specified proficiency. This means that the resource has the exact level of proficiency required for the qualification. An individual's score is not 100% if the resource request has a qualification with a specified proficiency and the resource does not have the qualification or has a different level of proficiency than required. In this case, the score is calculated based on how close the resource's proficiency is to the required proficiency. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-resources.html#OAPFM2356001

• Question 34:

  Your customer accounts revenue based on, product class category. Because all your customer's projects are funded by private and government institutions, they decide to classify all projects based on their funding source to accurately report on revenue in General Ledger. Accordingly, you create a new class category "Funding Source" and assign it to all projects. However, you notice that the accounting is still happening based on product class category. Identify the reason for this problem. (Choose the best answer.)

  A. Funding source class category is assigned to all project types.

  B. Funding source class category is not enabled for "available as accounting source".

  C. Product class category is not enabled for "available as accounting source".

  D. Funding source class category is enabled for "available as accounting source".

  Correct Answer: B

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-foundation-configuration-define-types-and-categorizations.html#OAPFM222700 Topic-Manage Project Class Categories Setting Up Class Categories: Points to Consider Available as Accounting Source This option indicates if the class category is available as an accounting source so that Oracle Fusion Subledger Accounting can use the category to create mapping sets, account rules, journal line rules, and description rules.

  Only one class category at a time is available as an accounting source in Oracle Fusion Subledger Accounting. To change the class category that Oracle Fusion Subledger Accounting uses, deactivate the old class category and create a new one with a different date range.

• Question 35:

  Identify the attribute of a project type that determines if expenditure items are billable , and the amount type to be used as the basis for transfer pricing. (Choose the best answer.)

  A. work type

  B. event type

  C. cost type

  D. expenditure type

  Correct Answer: A

  Reference

  https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125361.htm#OAPFM11 25277 (what's a work type?)

  In billing, you can use work types to classify work for the following purposes:

  To determine the default billable status of expenditure items. To classify cross-charge amounts into cost and revenue for cross-charge transactions.

  Tip: To use work types to determine whether an expenditure item is billable you must set the profile option Work Type Derived for Expenditure Item to Yes. When you create or import expenditure items, the default work type is inherited from

  the associated task. Tasks, in turn, inherit work type values from parent tasks and ultimately from the project. Project types determine the default work type value for projects and project templates.

• Question 36:

  Your customer has separate organizations to maintain indirect, capital, and billing types of projects. Identify the two setups that can be used to fulfill this requirement. (Choose two.)

  A. Project Type

  B. Business Unit

  C. Project Organization Classification

  D. Organization Tree

  E. Project Accounting Business Function

  Correct Answer: CD

  Reference https://docs.oracle.com/cloud/latest/projectcs_gs/FAPFM/FAPFM1225328.htm

• Question 37:

  You create a contract with two contract lines: Line 1 and Line 2. You create separate bill plans: A for contract Line 1 and B contract for Line 2, with a different bill set number (11 for Bill Plan A and 22 for Bill Plan B).

  Then Bill Plan A is allocated against Project X ?Task 10, and Bill Plan B is allocated against Project Y ?Task 30.

  Based on the preceding setup, you are generating invoices. Identify two correct statements about invoice generation in this scenario. (Choose two.)

  A. Both the contract lines create only a single invoice because they are using the same contract.

  B. Two invoices are created using the same contract.

  C. Bill set number drives the grouping of transactions.

  D. Invoice generation does not depend on bill plan. The invoices are created based on the contract line.

  Correct Answer: BC

  Ref:

  https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJB/F1087456AN1006D.htm What's a bill set?

  Transactions originating from different bill plans with the same bill set number on a contract are included on the same invoice. If a contract has multiple bill plans and each have different values for the bill set, Oracle Fusion Project Billing

  creates a separate invoice for each bill plan

• Question 38:

  Which two are the workflows in Project Financial Management? (Choose two.)

  A. Capital Interest Calculation

  B. Project Status Change

  C. Expenditure Item Adjustment

  D. Burden Cost Recalculation

  E. Asset Line Generation

  Correct Answer: BC

  The workflows in Project Financial Management are business processes that automate the approval and notification tasks for various project transactions and events. Two of the workflows in Project Financial Management are: Project Status Change: This workflow manages the approval and notification tasks for changing the status of a project or task from one value to another. For example, when a project or task is submitted for approval, this workflow routes the request to the appropriate approvers and notifies them of the action required. Expenditure Item Adjustment: This workflow manages the approval and notification tasks for adjusting expenditure items that have been charged to a project or task. For example, when an expenditure item is adjusted by a project manager or a cost accountant, this workflow routes the adjustment to the appropriate approvers and notifies them of the action required. Capital Interest Calculation, Burden Cost Recalculation, and Asset Line Generation are not workflows in Project Financial Management, but processes that perform various calculations and transactions for project costs and assets. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-financialmanagement.html#OAPFM2356161

• Question 39:

  You have closed the project accounting period with a warning, but you are unable to close the accounting period due to an error. Identify two reasons for this problem. (Choose two.)

  A. The corresponding Oracle Payables Cloud accounting period has not been closed.

  B. Transactions entered in an integrated Oracle Cloud Application are accounted, but not yet transferred and imported into Oracle Project Portfolio Management Cloud.

  C. Pending burden summarization items have not been processed.

  D. Unaccounted transactions are not imported.

  E. Unaccounted transactions have not been swept to the next period.

  Correct Answer: BE

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapjb/record-accounting-for-project-billing.html#OAPJB340382 Topic-Accounting Period and Project Accounting Period Closing: How Validation Works

• Question 40:

  Your customer wants a project start date to cascade to the project tasks but does not want the finish date to be cascaded. Identify the default setup in a project template that can be used to enable this. (Choose the best answer.)

  A. Cascade change to the start date.

  B. Do not cascade date changes.

  C. Cascade change to the finish date.

  D. Cascade change to the start date and the finish date.

  Correct Answer: A

  Reference https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-control-configuration-manage-financial-and-project-plan-types.html#OAPFM79055

  Topic-Project Date Cascade Options

  Use the Cascade option choice list to determine whether your changes to project dates cascade to tasks.

  Use the Basic Information region on the Edit Project Template page to select one of the following options:

  Do not cascade project date changes to tasks: Both start and finish dates are editable. However, you must ensure the following:

  Cascade project start date change to affected tasks: You can edit only the project start date.

  Cascade project finish date change to affected tasks: You can edit only the project finish date.

  Do not cascade project date changes to tasks is the default value. You must select the cascade option each time you change the project dates, as your selection isn't saved for future date changes.

  If you select to roll up planned dates for tasks or are using an external application for scheduling, then you can't modify the project start or finish dates.