Oracle Risk Management Cloud 2018 - 1Z1-958 Exam Practice Test

Question 1

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: Closed; State: Final Close

B. Status: Open; State: Approved

C. Status: On Hold; State: Awaiting Approval

D. Status: Open; State: New

E. Status: On Hold; State: In Review

F. Status: On-Hold; State: Reported

G. Status: Open; State: In Edit

H. Status: Closed; State: Closed - Awaiting Approval

Correct Answer: B,D,E,G

Question 2

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

B. Understand the sample size for each audit test.

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

D. Determine the main objectives of deploying the control.

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

Correct Answer: A,B,E

Question 3

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 "Approved" state.

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

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

Correct Answer: C

Question 4

Which filter can be used to identify expense reports that contain suspicious expense type combinations, such as, a report for a single trip that contains taxi, car rental, and mileage expenses?

A. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "In" condition for values that include taxi, car, mileage.

B. Inclusive function filter grouped by the "Expense Report Information" object's "Person" where the
"Expense Type" has an "In" condition for values that include taxi, car, mileage.

C. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "Equals" condition for values that include taxi, car, mileage.

D. Inclusive function filter grouped by the "Expense Report Information" object's "Person" where the
"Expense Type" has an "In" condition for values that include taxi, car, mileage.

E. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "In" condition for values that include taxi, car, mileage.

Correct Answer: A

Question 5

You are advising your client on design and configuration related to how access incident results will be viewed and managed. The client has provided a list of business requirements:
* Incident results can be viewed by Department
* Groups of investigators receive assigned incidents based on Department
* Must ensure systematically that no incident is unassigned to an investigator Which three must be configured to support these requirements? (Choose three.)

A. Investigators are assigned job roles with custom Department perspective data roles attached. Other incident users receive job roles which only allow viewing of incidents.

B. Worklist assignment Result Investigator should be set to "All Eligible Users"

C. Custom perspective for Department linked to the Results object with Required set to "No"

D. Investigators are assigned job roles with custom Department perspective data roles attached for managing incidents. Other incident users are assigned job roles with custom Department perspective data roles attached for viewing only.

E. Custom perspective for Department linked to the Results object with Required set to "Yes"

F. Worklist assignment Result Investigator should be set to specific users.

Correct Answer: A,B,F

Question 6

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. No risks were mapped to the imported controls.

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

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

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

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

Correct Answer: A,D,E

Question 7

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

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

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

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

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

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

Correct Answer: A,C,D

Question 8

Which three objects can be related to issues when creating an issue on the Manage Issues page? (Choose three.)

A. Test Plans

B. Assessments

C. Processes

D. Perspectives

E. Risks

F. Controls

Correct Answer: C,E,F

Oracle Risk Management Cloud 2018 - 1Z1-958 Exam Practice Test

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