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Preparations of 1Z0-1058-20 Exam 2021 Oracle Risk Management Cloud Unlimited 77 Questions
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How to Prepare For Oracle Risk Management Cloud 2020 Implementation Essentials 1z0-1058-20 Exam
Preparation Guide for Oracle Risk Management Cloud 2020 Implementation Essentials 1z0-1058-20 Exam
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NEW QUESTION 33
Which three risk assessment activity types areavailable in Financial Reporting Compliance? (Choose three.)
- A. Audit
- B. Certify
- C. Qualitative Analysis
- D. Assess Risk
- E. Quantitative Analysis
- F. Design Review
Answer: B,D,F
NEW QUESTION 34
You have two segregation of duties requirements:
1) a user can access either the supplier creation pages or the invoice pages, but not both.
2) a user can access either theinvoice creation pages or the payment creation pages, but not both.
How must these requirements be met in Advanced Access Controls?
- A. Construct one entitlement: "Create Supplier & Create Invoice & Create Payment"
- B. Construct three controls, and create controls based on the models: "Create Supplier & Create Invoice",
"Create Invoice & Create Payment", "Create Supplier & Create Payment" - C. Construct two models, and create controls based on the models: "Create Supplier & Create Invoice",
"Create Invoice & Create Payment" - D. Construct one model: "Create Supplier & Create Invoice & Create Payment"
- E. Construct one model with three condition filters where the Function Name Equals "Create Supplier",
"Create Invoice" and"Create Payment"
Answer: D
NEW QUESTION 35
Which controls can user A manage for the following Control Manager role Configuration? See details of perspective trees and control-perspective association below.
- A. Controls 1, 2, and 4
- B. All controls
- C. Controls 1 and 2
- D. None
- E. Controls 2 and 4
Answer: C
NEW QUESTION 36
You are helping your client identify and define their controls. Youhave determined that your client requires two perspectives: Business Units and Regulatory Standards.
The controls are going to be secured by the business unit, and you want to ensure that when the client defines new controls, it is mandatory to assign a Business Units perspective to the control. You are going to set the
"Required" field to "yes" for the Control-Business Units association.
Where do you do this in the product?
- A. The Create Control screen
- B. The Manage Object Perspectives screen
- C. The Manage Module Perspectives screen
- D. The Create Perspectives screen
- E. TheImport template
Answer: D
NEW QUESTION 37
You are working with the customer to gather Risk-Control data for the data import process. The customer has information in multiple formats. Which format should be used for importing the data?
- A. .xml
- B. .pdf
- C. .txt
- D. .doc
- E. .xlsx
Answer: A
NEW QUESTION 38
The internal auditor advised the Control Owner of North America to perform assessment for two P2P controls.
Which three steps can the Control Owner perform to kick-off assessments for only those two controls?
(Choose three.)
- A. Initiate two planned assessments, one for each control.
- B. Initiate a planned assessment and include the two controls as part of the same assessment.
- C. Enable impromptu assessments during configuration of module objects.
- D. Perform impromptu assessments for the two controls.
- E. Initiate a planned assessment that includes all controls assigned toperspective P2P.
Answer: A,C,E
NEW QUESTION 39
You are implementing Advanced AccessControls and there is a requirement for a control to monitor user access to specific, client-defined access points which give users the ability to both initiate a purchase order and approve payments on that purchase order.
Which is a valid option to implement the control?
- A. Create an access entitlement from the "Access Entitlements" page, then select Actions > Create Access Control from the "Controls" tab of Advanced Controls, and select the entitlement you created.
- B. Create an access model from the "Models" tab of Advanced Controls, and then define an access point filter for each individual client-defined access point.
- C. From the "Access Entitlements" page create two entitlements containing the respective client-defined access points. Create an access model from the "Models" tab of Advanced Controls, based on the entitlements you created. Finally, deploy an access control in the "Controls" tab of Advanced Controls, and select the access model you created.
- D. From the "Access Entitlements" page create two entitlements containing the respective client-defined access points. Create an access model from the "Models" tab of Advanced Controls, based on the entitlements you created.
- E. Select Actions > Create Access Control from the "Controls" tab of Advanced Controls.
Answer: C
NEW QUESTION 40
Which three are true about implementing a best practice solution for Financial Reporting Compliance?
(Choose three.)
- A. It promotes rapid implementation and go-live.
- B. Large scope of project requires higheffort for maintenance and administration.
- C. It promotes go-live with minimal acceptance testing and user training.
- D. It provides maximum return on investment with minimum project risk.
- E. It promotes successful adoption and minimizes on-going cost of operation.
Answer: A,D,E
NEW QUESTION 41
Which part of the security structure cannot be created or viewed from the Security Console, when configuring security for Financial Reporting Compliance?
- A. Job Role Perspective Policy
- B. Functional Security Policy
- C. Composite Duty Role
- D. Data Security Policy
Answer: A
NEW QUESTION 42
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 underlying model is not linked to Order to Cash.
- B. The Control Perspectives are not linked to the control.
- C. Worklist assignment does not include the business owner.
- D. The Result Management Perspective Assignment has not been linked.
- E. The business owner was recently assigned the role and the worklist needs to be refreshed.
Answer: C
NEW QUESTION 43
Which three statements are true about the purpose of perspectives? (Choose three.)
- A. Perspectives can be used to define user privileges.
- B. Perspectives are used to enable data security on Financial Reporting Compliance objects.
- C. Perspectives can be used to represent regional hierarchies.
- D. Perspectives enable functional security in Financial Reporting Compliance.
- E. Perspectives can be used for categorizing Financial Reporting Compliance objects.
Answer: B,C,D
NEW QUESTION 44
You have imported risks in Financial Reporting Compliance using data migration. Your client is asking if you can add controls for these risks.
Which two statements are true? (Choose two.)
- A. You can use the Data Migration tool to add control records for the existing risks.
- B. You can manually add control definitions and relate them to the risks in Financial Reporting Compliance.
- C. To relate controls, risks must be assigned to the same perspective that is assigned to the control you want to map it to.
- D. You cannot use the Data Migration tool to add control records to map to existing risks.
- E. To relate controls to risks, the risks must be in"approved" state.
Answer: A,C
NEW QUESTION 45
When running Synchronize Transaction from the Data Sources page of Application Configurations, which statement is true when you have two models using invoice and payment business objects?
- A. Two jobs will run for the two objects based on transactions dated after the Transaction Created As of Date.
- B. One job will run for the two objects and the Transaction Created As of Date has no impact on the data.
- C. One job will run for the two objects based ontransactions dated before the Transaction Created As of Date.
- D. One job will run for the two objects based on transactions dated after the Transaction Created As of Date.
Answer: D
NEW QUESTION 46
During implementation, you created a risk object and successfully mapped it to a control object. The client's Risk Owner is able to access the risk but not the control.
Why did this happen?
- A. The Risk Owner role does not have the rightprivileges.
- B. The Risk Administrator needs to run the synchronize jobs to populate the mapping.
- C. The risk and control objects are inactive and need to be made active.
- D. The Risk Owner account is inactive.
Answer: A
NEW QUESTION 47
How do you add values to a Risk Type list of values?
- A. Use the default lookup codes because there is no way to update the existing ones.
- B. Populate the Import template with the new values in the Issue Severity column on the Controls tab.
- C. Add the lookup codes to the GRCM_RISK_TYPE Lookup Type.
- D. Because you cannot add newvalues, update one of the existing lookup codes to what the client wants it to be.
- E. Add the lookup codes to the GRC_RISK_TYPE Lookup Type.
Answer: C
NEW QUESTION 48
Your client is configuring their Test pod (which has no data) and has created their initial importtemplate with controls, test plans, perspectives, and perspective-control mappings. They have used custom list of values for Control Frequency.
Which three tasks must be completed before performing the data import? (Choose three.)
- A. Validate that there are no duplicate worksheet IDs within the same worksheet.
- B. Validate that new lookup values are created for any custom list of values.
- C. Validate that all nods on the Perspective Item tab are covered on the Perspective Hierarchy tab.
- D. Validate that the System ID column is populated correctly.
- E. Validate that the control-perspective relationship has been created in Manage Module Perspectives.
Answer: B,C,D
NEW QUESTION 49
You have created security roles for the Procure-to-Pay (P2P) Control Manager for the EMEA region in your client's organization. But, there are two problems with his or hersecurity configuration.
Problem 1: This person should not receive notifications to complete control assessments, but currently he or she does.
Problem 2: Also, although he or she has access to controls associated with EMEA, he or she is unable to access controls created for individual regions within EMEA.
You have given him or her the following job role:
* EMEA P2P Control Manager Job Role
* Seeded Control Manager Duty Composite
* Seeded Control Certification Assessor Duty Composite
* EMEA P2P Control Manager DataSecurity Policy
* Seeded Control Manager Data Security Policy
* Perspective filter where Region Perspective "equals" EMEA
* Perspective filter where Process Perspective "equals" P2P
Which two actions need to be taken to correct the problems? (Choose two.)
- A. While defining data security policy, set the perspective value to EMEA including all child nodes of the EMEA region.
- B. Remove Control Certification Assessor Composite from the EMEA P2P Control Manager job role.
- C. Add to the EMEA P2PControl Manager Data Security Policy the seeded Control Certification Assessor Data Security Policy.
- D. Create EMEA P2P Control Certification Assessor Data Security Policy striped by both EMEA and P2P perspectives and assign to the job role.
Answer: A,C
NEW QUESTION 50
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. Create a project plan with objectives, goals, and exit criteria.
- C. Complete control review and assessment for one period/cycle with the actual business owners.
- 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.
Answer: C,D,E
NEW QUESTION 51
After generating an XML file export of Advanced Controlsperspectives, you receive a message that the export job has been generated.
What are the three steps you need to perform in order to download and review the formatted export file?
(Choose three.)
- A. Open with an HTML editor.
- B. Open with an XML editor, such as Excel.
- C. Navigate to Monitor Jobs and click the message link for the export job.
- D. Click the Export File button.
- E. Click the Item Results link.
Answer: B,C,D
NEW QUESTION 52
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. Control Test Plans
- B. Perspective-Control
- C. Controls
- D. Perspective Items
Answer: A,C,D
Explanation:
Explanation
References:
NEW QUESTION 53
Identify the four statuses and states in which you can edit an issue's description, assuming you have the necessary privileges to edit the issue. (Choose four.)
- A. Status: On-Hold; State: Reported
- B. Status: Closed; State: Final Close
- C. Status: Open; State: In Edit
- D. Status: Closed; State: Closed - Awaiting Approval
- E. Status: On Hold; State: In Review
- F. Status: Open; State: New
- G. Status: On Hold; State: Awaiting Approval
- H. Status: Open; State: Approved
Answer: C,E,F,H
NEW QUESTION 54
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 tousers 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 both Region and Business Process hierarchies solely for reporting purposes.
- B. Use the Region hierarchy initially, and later use both Region and Business Process hierarchies for security.
- C. Use the Business Process hierarchy for security and the Region hierarchy for reporting of controls.
- D. Use the Region hierarchy for security and the BusinessProcess hierarchy for reporting of controls.
Answer: D
NEW QUESTION 55
You can relate objects in Financial Reporting Compliance. Which statement is true about editing or creating related objects in the Related Objects section on the Risk Definition page?
- A. You can relate only an existing control, but not a new control.
- B. You can relate a new process and a new control.
- C. You can relate only process objects.
- D. You can relate only control objects.
Answer: B
NEW QUESTION 56
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