oracle 1z0-1081-21 practice test

Oracle Financial Consolidation and Close 2021 Implementation Essentials Exam

Last exam update: May 14 ,2024
Page 1 out of 8. Viewing questions 1-15 out of 106

Question 1

Which statement explains why, in the Consolidation dimension, the data for an entity in the
FCCS_Entity Input
member might be different than the data in the FCCS_Proportion member?

  • A. A rate was entered into the FCCS_Rate Override account.
  • B. An ownership percentage for the entity other than 100 was entered.
  • C. An intercompany elimination was performed.
  • D. The parent entity has a different currency than the child.
Answer:

C

User Votes:
A
50%
B
50%
C
50%
D
50%

Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 2

You have created a navigation flow named Analysts that should be the default navigation for users in
the Analysts user group.
How can the Analysts navigation flow be made the default for the Analysts user group?

  • A. In the Analysts navigation flow, select the Analysts user group in the Assign To field.
  • B. In Application Settings, assign Analysts to the Analysts user group in the System Settings section.
  • C. In their User Preferences settings, members of the Analysts user group should select Analysts in the Navigation Flow list.
  • D. Because the navigation flow was given exactly the same name as the user group, it is assigned automatically to the group
Answer:

A

User Votes:
A
50%
B
50%
C
50%
D
50%

Explanation:
Assign to assigns the navigation flow to a group of users or to a role.
Reference:
https://docs.oracle.com/en/cloud/saas/planning-budgeting-cloud/pfusa/editing_a_navigation_flow_114xdb21ceb5.html

Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 3

Which two statements are true about Cash Flow in the Movement dimension?

  • A. When you add a level 0 member to FCCS_Mvmts_Subtotal, it is automatically added as a shared member to the FCCS_CashFlow hierarchy.
  • B. The seeded level 0 members under FCCS_Mvmts_Subtotal are shared members in the FCCS_CashFlow hierarcy.
  • C. You can add shared members to the FCCS_CashChange hierarchy.
  • D. The FCCS_Mvmts_AccountsPayable member is under FCCS_CashFlow_NetAssets in the FCCS_CashFlow hierarchy.
Answer:

A, B

User Votes:
A
50%
B
50%
C
50%
D
50%

Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 4

In Financial Close Manager, when would you choose to define tasks in a Template rather than create
a new Schedule each month?

  • A. when the tasks are repeatable over multiple close cycles
  • B. when the tasks require consistent definition across close schedules
  • C. when the tasks are often late in completion and they need to be monitored more closely
  • D. when the tasks require multiple levels of approvers
Answer:

A

User Votes:
A
50%
B
50%
C
50%
D
50%

Explanation:
A task template defines a repeatable set of tasks required for a business process. It is used as a basis
for
creating schedules.D18912E1457D5D1DDCBD40AB3BF70D5D
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/cm_templates_managing.html

Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 5

Which statement is FALSE when setting up Shared Entities?

  • A. The calculation status will not change in all instances when data is changed in one instance.
  • B. The Data Storage Member Property must set to “Dynamic Calc”.
  • C. You build an alternate hierarchy by using partial share Entity members.
  • D. When data is posted to one shared entity, the data is posted to all instances.
Answer:

A

User Votes:
A
50%
B
50%
C
50%
D
50%

Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 6

To have access to Dimension Management from directly within Financial Consolidation and Close
(FCCS) which security rights are required?

  • A. Metadata Administrator
  • B. Metadata Supervisor
  • C. System Administrator
  • D. Power User
Answer:

A

User Votes:
A
50%
B
50%
C
50%
D
50%

Explanation:
Service Administrators have Write access to all dimension members and to all forms.
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/EPM-
INFORMATIONDEVELOPMENT-TEAM-E93973-628A1C2A.pdf

Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 7

Which components are pre-built into Financial Consolidation and Close Cloud Service to provide a
configurable and scalable consolidation solution?

  • A. pre-built integrations to combine narrative and data to produce both internal and external reporting packages
  • B. calculations, dashboards and reports to provide analysis for cash flow modeling
  • C. calculations, dashboards and reports as well as detailed data source tracking and an automated cash flow
  • D. calculations, dashboards and reports built on planning frameworks to provide cash flow planning
Answer:

C

User Votes:
A
50%
B
50%
C
50%
D
50%

Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 8

A company would like to capture Fixed Asset additions and disposals within the Movement
dimension.
Which three tasks are necessary to achieve this goal?
A.
Add
custom
members
for
Additions
and
Disposals
as
children
of
FCCS_Mvmts_CapitalExpenditures.
B. Build a custom Movement member for Fixed Assets with child members for Additions and
Disposals.
C. Load detailed Fixed Asset data to Movement members.
D. Add custom Movement members to the FCCS_CashFlow hierarchy.
E. Create a Roll Forward in the account dimension.

Answer:

C, D, E

User Votes:

Discussions
vote your answer:
0 / 1000

Question 9

For your business process, you need to modify the results calculated by the Balance the Balance
Sheet
system rule.D18912E1457D5D1DDCBD40AB3BF70D5D
Which is the proper method to modify the results of the default Balance the Balance Sheet
calculation?

  • A. Click Final Calculations on the Consolidation Process page and add a Configurable Calculation rule in Calculation Manager.
  • B. Click Configurable Consolidation on the Consolidation Process page and create a Configurable Consolidation rule-set.
  • C. Edit the numbers using a web form or Smart View after consolidating.
  • D. Create an on-demand rule in Calculation Manager that you run after consolidation.
Answer:

B

User Votes:
A
50%
B
50%
C
50%
D
50%

Explanation:
From the Consolidation Process page, select the Consolidated tab, and then selectConfigurable
Consolidation.
Click the Create Rule Set.
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/consolidation_creating_rule_sets.html

Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 10

For your business process, owners of approval units should be able to lock and unlock data without
going.
through an approval process.
Which action should you perform?

  • A. Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.
  • B. Select the Consolidation template when setting up the Approval Unit hierarchy.
  • C. Delete the default Approval Unit hierarchy.
  • D. Select as owners only users with the Service Administrator or Power User security role.
Answer:

B

User Votes:
A
50%
B
50%
C
50%
D
50%

Explanation:
Correct Answer: B
Explanation:
Section: (none)
To lock or unlock an entity, you must create an approval unit hierarchy containing the entities you
want to lock.
By default, Financial Consolidation and Close provides an approval unit named "Total Geography".
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/locking_and_unlocking_entities.html

Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 11

Which statement is true regarding shared members and valid intersection rules?

  • A. Shared members are supported in valid intersection rules
  • B. If a shared member is selected for a valid intersection rule, then the base member is not included in the rule
  • C. If a base member is included in a valid intersection rule, then any shared member is not included in the rule
  • D. Shared members are not supported in valid intersection rules
Answer:

C, D

User Votes:
A
50%
B
50%
C
50%
D
50%

Explanation:
Shared members are supported in valid intersection rules. If a base member is selected for a valid
intersection
rule, any shared members are also included in the rule.
Reference:
https://docs.oracle.com/en/cloud/saas/tax-reporting-cloud/agtrc/admin_valid_intersections_shared_members_and_rules_102x58c8d618.html

Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 12

Which statement is false regarding establishing security for Financial Consolidation and Close?

  • A. Security can be assigned at a prevent level.
  • B. Security is mandatory for one dimension.
  • C. The Identity Domain Administrator inherits full access privileges.
  • D. All members are accessible for dimensions with no security applied.
  • E. Security can be disabled for any dimension.
Answer:

D

User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%

Explanation:
The Identity Domain Administrator is not a functional role; it does not inherit access privileges
granted through
functional roles. To access service features, the Identity Domain Administrator must be granted one
of the four
functional roles in Tax Reporting.
Reference:
https://docs.oracle.com/en/cloud/saas/tax-reporting-cloud/agtrc/admin_security_predefined_roles_112x5e7954a4.html

Discussions
vote your answer:
A
B
C
D
E
0 / 1000

Question 13

What are two important first steps in initially setting up Task Manager?

  • A. Set up Users.
  • B. Define system settings such as Organization units, Holiday rules and Task attachment size.
  • C. Assign tasks to users.
  • D. Create a schedule and set it to Open status.
Answer:

A, B

User Votes:
A
50%
B
50%
C
50%
D
50%

Explanation:
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/cm_close_process_overview.html

Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 14

Which three are seeded data forms created during business process creation?

  • A. Exchange Rate Multi-period
  • B. Override Rates
  • C. Shares Outstanding
  • D. Data Status
  • E. Headcount
Answer:

A, B, D

User Votes:
A
50%
B
50%
C
50%
D
50%
E
50%

Discussions
vote your answer:
A
B
C
D
E
0 / 1000

Question 15

You need to define a form that requires users to select the entity for which to view data from a list
that includes
USA, Canada, and South America, but no other entities.
Where on the form do you place the Entity dimension?

  • A. the Point of View
  • B. rows
  • C. columns
  • D. the Page Axis
Answer:

A

User Votes:
A
50%
B
50%
C
50%
D
50%

Explanation:
The point of view is displayed on the top of the form. Elements that can be changed are displayed as
links in
the point of view. For example, if the Entity dimension is displayed as a link, you can change the
entity but not
the other dimensions in the point of view.
Reference:
https://docs.oracle.com/cd/E57185_01/OHFMU/form_pov.htm#OHFMU-
Webdataforms472213

Discussions
vote your answer:
A
B
C
D
0 / 1000
To page 2