Oracle Risk Management Cloud 2020 Implementation Essentials

Question 1

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

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

C. Theassessment associated to the issue must be completed before closing the issue. Only then can you close the issue.

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

Correct Answer: C

Question 2

How do youassociate 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. On the Related Objects tab of control definition, add the risk.

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

E. In the related object section of process definition, add the control tothe risk.

Correct Answer: A

Question 3

You have defined an initial Perspective Hierarchy for your client in theAdvanced Controls module. After refining their business requirements, your client wants to expand the existing hierarchy to include 150 perspective items in various levels. For efficient processing, you decide to use the GRC data migration feature to import the new items.
Which three are valid processing steps required to define the export file? (Choose three.)

A. Generate Template as Without Data.

B. Generate Template as Without Data - Perspectives Only.

C. Navigate to Risk Management Tools > Setup and Administration > Data Migration, and select Advanced Controls.

D. Click the Create Import Template button.

E. Navigate to Manage Module Perspectives.

Correct Answer: A,C,E

Question 4

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. Controls 2 and 4

E. None

Correct Answer: C

Question 5

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

A. Template

B. Reviewer

C. Activity

D. Name

E. Perspectives

F. Due Date

Correct Answer: A,D,F

Question 6

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 cannot use the Data Migration tool to add control records to map to existing risks.

B. You can use the Data Migration tool to add control records for the existing risks.

C. To relate controls to risks, the risks must be in"approved" state.

D. You can manually add control definitions and relate them to the risks in Financial Reporting Compliance.

E. To relate controls, risks must be assigned to the same perspective that is assigned to the control you want to map it to.

Correct Answer: B,E

Question 7

You have five business units in our company, BU1 through BU5. You want to build a transaction model to identify suppliers who have been paid more than $100,000 USD across all business units except BU5.
Which two filters must be combined? (Choose two.)

A. Add a standard filter where the "Payment" object's "Organization ID" is equal to itself.

B. Add astandard filter where the "Payment" object's "Organization ID" equals BU5, and advanced option
"Exclude" is checked.

C. Add a standard filter where the "Payment" object's "Organization ID" equals BU1, BU2, BU3, BU4.

D. Add a function filter grouping by "Supplier ID" where the sum of "Payment Amount" is greater than
100,000.

E. Add a function filter grouping by "Organization ID" where the sum of "Payment Amount" is greater than 100,000.

Correct Answer: C,E

Question 8

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

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

C. Seeded Risk Issue Manager and Control Issue Manager

D. Seeded Issue Manager Composite and IssueValidator Composite

Correct Answer: B

Oracle Risk Management Cloud 2020 Implementation Essentials - 1Z0-1058-20 Exam Practice Test

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