Oracle Oracle Certifications 1Z0-1058-23 Questions & Answers

• Question 1:

  The GRC Business owner responsible for reviewing and investigating access incidents related to the "Order to Cash" perspective does not see any worklists for the generated results. You have validated that:

  1.

  Other business owners are able to view their assigned worklists without any problem

  2.

  Incidents have been generated for the controls related to Order to Cash

  3.

  The business owner's assigned roles contain the correct functional privileges and data access to the correct perspective values

  What is the reason the business owner cannot see any worklists for the generated incidents?

  A. The Result Management Perspective Assignment has not been linked.

  B. The underlying model is not linked to Order to Cash.

  C. The business owner was recently assigned the role and the worklist needs to be refreshed.

  D. Worklist assignment does not include the business owner.

  E. The Control Perspectives are not linked to the control.

  Correct Answer: D

• Question 2:

  A user has created and submitted a new control and the state of the control is "In Review." The user expected that the control state would change to "Approved."

  Why is the control not in the "Approved" state?

  A. This user is not a Control Approver; therefore, the status will be "In Review."

  B. The Control Reviewer role has been assigned to some users.

  C. New controls must always be reviewed, irrespective of security configuration.

  D. The Control Approver role has been assigned to some users.

  Correct Answer: A

• Question 3:

  Which part of the security structure cannot be created or viewed from the Security Console, when configuring security for Financial Reporting Compliance?

  A. Composite Duty Role

  B. Job Role Perspective Policy

  C. Data Security Policy

  D. Functional Security Policy

  Correct Answer: B

• Question 4:

  Which two activities can be performed using Financial Reporting Compliance? (Choose two.)

  A. Review and approve the accuracy and completeness of control descriptions.

  B. Gain real-time access to live financial data and proactively resolve issues.

  C. Continuously monitor financial transactions and role-based remediation of transaction incidents.

  D. Review control assessment results, along with any effectiveness issues found.

  E. Provide self-service access to reporting and analysis against financial transactions.

  F. Conduct intuitive audits of general ledger balances with journal details.

  Correct Answer: AC

• Question 5:

  Your client needs to perform Design Review and Certification assessment for all their controls. Identify two options that show how this requirement can be met. (Choose two.)

  

  A. Option A

  B. Option B

  C. Option C

  D. Option D

  E. Option E

  Correct Answer: AD

• Question 6:

  How do you associate a risk to a control?

  A. On the Related Controls tab of risk definition, add the control.

  B. To associate a control to a risk, the control needs to be in the Review state.

  C. In the related object section of process definition, add the control to the risk.

  D. On the Related Objects tab of control definition, add the risk.

  E. The only way to create risk-control associations is through data import.

  Correct Answer: A

• Question 7:

  You completed the data migration successfully. You created 100 controls, an Organization Perspective, and relationship of controls to the Organization Perspective. All controls are related to one perspective item. The Control Manager logs in

  to the application to view the new controls, yet there are none available for his or her review.

  Identify three reasons for this. (Choose three.)

  A. The Control Manager was not given the correct data security policy to access the controls.

  B. The Perspective Hierarchy was not associated to the Control Object.

  C. There was no Control Type associated with the controls.

  D. The Perspective Hierarchy is not in the Approved state.

  E. No risks were mapped to the imported controls.

  Correct Answer: ACE

• Question 8:

  Your customer needs to conduct monthly Operational Effectiveness assessments for controls across two organizations (North America and EMEA). Your customer requires that assessment results for North America be accessible only to

  users in North America and likewise for EMEA. Additionally, the Chief Risk Officer reviews the assessment results by Business Process every week.

  How should you design perspectives to achieve this?

  A. Use the Region hierarchy for security and the Business Process hierarchy for reporting of controls.

  B. Use the Region hierarchy initially, and later use both Region and Business Process hierarchies for security.

  C. Use both Region and Business Process hierarchies solely for reporting purposes.

  D. Use the Business Process hierarchy for security and the Region hierarchy for reporting of controls.

  Correct Answer: A

• Question 9:

  You are building a transaction model to identify invoices with USD amounts that are greater than the supplier's average invoice amount. The order of the filters is important.

  1.

  Add an "Average" Function filter grouping by "Supplier ID" where "Invoice Amount" is greater than 0.

  2.

  Add a standard filter where "Invoice Currency" equals "USD."

  3.

  Add a standard filter where the delivered "Average Value" attribute is less than "Invoice Amount."

  What is the correct order of the filters for this transaction model?

  A. 1, 3, 2

  B. 1, 2, 3

  C. 2, 3, 1

  D. 3, 2, 1

  E. 2, 1, 3

  Correct Answer: B

• Question 10:

  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 Assessment Flag and the Audit Testing Flag are both set to "Y."

  B. The Control has a related process.

  C. The Control status filed is set to "Audit Test."

  D. The Control comment filed has a notation for "Audit Test."

  Correct Answer: B