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Oracle 1z1-495 Exam Syllabus Topics:

SectionWeightObjectives
Workforce Compensation25%- Designing compensation plans
- Configuring plan cycles and budgets
- Setting up worksheets, approvals, and access
- Administering compensation changes and models
Individual Compensation20%- Configuring compensation history
- Setting up individual compensation plans
- Managing contributions and approvals
Total Compensation Statements15%- Generating and publishing statements
- Defining compensation statements
- Managing statement layouts
Base Pay Configuration20%- Defining salary basis
- Managing base pay structures
- Configuring salary components
Elements, Formulas, and Eligibility20%- Describing element classifications and deductions
- Creating element eligibility criteria
- Managing fast formulas

Oracle Fusion HCM: Compensation 2014 Essentials Sample Questions:

1. As an implementation consultant, you are required to define a total compensation statement. You are creating the compensation items for the same. Which four source types are available for selection while creating a compensation item for the total compensation statement?

A) Formula
B) Benefit Balance
C) Element Entry
D) Deduction Range
E) Input Value
F) Payroll Balance


2. As an implementation consultant, you have defined a total compensation statement. You have defined three compensation items (a new hire bonus, a profit sharing bonus, and a quarterly bonus), which are attached to the bonus category. You no longer need the quarterly bonus item but you are unable to delete it.
Which statement is true for the given scenario?

A) The item cannot be deleted, because it is attached to a category.
B) Before deleting the item, you must configure a zero value behavior for the item.
C) The above scenario does not stand true as the item can be deleted.
D) More than one administrator might be using the item and, therefore, it cannot be deleted.


3. As compensation administrator, you are required to show "Actual Amounts paid to the worker" in the Total Compensation Statement. To meet this requirement, which component must be created?

A) Compensation Item
B) Compensation Statement Definition
C) Compensation Category
D) Compensation Source


4. Performance Ratings is enabled in compensation plan. Which three statements are correct regarding performance ratings?

A) You can allow managers to enter performance ratings during the compensation cycle to be used only in the compensation plan.
B) If you use performance ratings while allocating compensation, you can display the latest ratings to the managers during the compensation cycle.
C) You can allow managers to update the overall performance rating, overall goal rating, and overall competency rating in the compensation worksheet.
D) You cannot make performance ratings and documents completed in Oracle Fusion Performance Management available to managers from the worksheet.


5. A corporation is implementing Oracle Fusion Compensation Management and must set up Compensation history. Identify the three correct options regarding the salary component.

A) The base rate shown in the previous years is the pay rate on 31 December of each year.
B) The growth rate shown in the details shows both cumulative and average annual salary growth rates.
C) The Base rate shown in the salary section is the average of the pay rate for the entire year.
D) The Base rate shown in the salary section is the most recent pay rate.


Solutions:

Question # 1
Answer: B,C,E,F
Question # 2
Answer: D
Question # 3
Answer: A
Question # 4
Answer: A,B,C
Question # 5
Answer: A,C,D

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