Oracle Oracle Certifications 1Z0-1058-20 Questions & Answers

• Question 41:

  You are gathering requirements on how your client performs control assessments. Which three tasks should you complete to set up assessments in Financial Reporting Compliance? (Choose three.)

  A. Identify the type of assessments included in each assessment cycle.

  B. Understand the sample size for each audit test.

  C. Determine if control assessments are planned ahead of time or are run impromptu.

  D. Determine the main objectives of deploying the control.

  E. Determine whether assessments templates, plans, and completed assessments need to go through a review and approve workflow.

  Correct Answer: BCE

• Question 42:

  During an assessment, an issue was created. Your job as the Issue Manager is to review the issues and

  validate them. If it is determined that they are not valid issues, you need to close them. You have found an

  issue that is not valid and with Status: Open and State: Reported.

  Identify the correct step to close this issue.

  A. On the Manage Issues page, highlight the issue and click the Close button.

  B. The assessment associated to the issue must be completed before closing the issue. Only then can you close the issue.

  C. After you have completed the remediation plan, click the Close button on the Remediation Plan page.

  D. Ensure that the issue status is In Edit, and then from the Actions menu, select Close Issue.

  Correct Answer: B

• Question 43:

  You build an access model with two entitlements. Each entitlement has four access points. The entitlements do not have any access points in common. How many access point combinations will be analyzed?

  A. 20

  B. 16

  C. 8

  D. 4

  E. 25

  Correct Answer: C

• Question 44:

  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 this control.

  B. He or she will be able to review results of all prior Audit tests and operational assessments for this control.

  C. He or she will be able to review only results of prior operational assessments for this control.

  D. He or she will be able to review results of all prior operational assessments for all controls.

  E. He or she will be able to review results of all prior assessments of all types for all controls.

  Correct Answer: B

• Question 45:

  After adding a new control in Financial Reporting Compliance, the control owner clicks Submit. Users with

  the Control Reviewer and Control Approver roles exist.

  What is the expected outcome?

  A. The control goes into the "Waiting for Approval" state.

  B. The control goes into the "New" state.

  C. The control goes into the "Approved" state.

  D. The control goes into the "In Review" state.

  Correct Answer: D

• Question 46:

  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. Perspective Items

  B. Controls

  C. Control Test Plans

  D. Perspective-Control

  Correct Answer: ABC

• Question 47:

  Which three tasks should be completed before starting the Financial Reporting Compliance implementation? (Choose three.)

  A. Migrate the organization's existing risk and control matrix into Financial Reporting Compliance.

  B. Complete control review and assessment for one period/cycle with the actual business owners.

  C. Create a project plan with objectives, goals, and exit criteria.

  D. Identify Financial Reporting Compliance users for everyday use, administration, and sustained use.

  E. Plan to go-live with a simple scope and later expand the solution to include additional business units/ organizations/compliance frameworks.

  Correct Answer: BDE

• Question 48:

  When you view or edit a transaction incident, you may see extra 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. Equals (when the same attribute is used on both sides of the condition)

  B. Not in

  C. Similar

  D. Average Function

  E. Between (when using a date attribute)

  Correct Answer: BDE

• Question 49:

  Select three fields that are required to create an impromptu assessment. (Choose three.)

  A. Due Date

  B. Template

  C. Name

  D. Reviewer

  E. Perspectives

  F. Activity

  Correct Answer: ABC

• Question 50:

  Your customer has a requirement to define an IT Compliance Manager job role with privileges to manage risks and controls, and the issues related to the risks and controls. What are the duty roles that must be included in this job role to achieve this requirement?

  A. Seeded Issue Manager Composite and Issue Validator Composite

  B. Seeded Risk Issue Manager and Control Issue Manager

  C. Seeded Issue Manager Composite

  D. Seeded Risk Manager Composite, Control Manager Composite, and Issue Manager Composite

  Correct Answer: D