Oracle Risk Management Cloud 1Z0-1058-20 Dumps | Updated Jan 25, 2022 - TestPDF
Master 2022 Latest The Questions Oracle Risk Management Cloud and Pass 1Z0-1058-20 Real Exam!
Topics of Oracle Risk Management Cloud 2020 Implementation Essentials 1z0-1058-20 Exam
Candidates must know the exam topics before they start of preparation. Our 1z0-1058-20 Dumps will include the following topics:
1. Gather Requirements for Risk Management Implementation (fka Gather Requirements for Financial Reporting Compliance Implementation)
- Design Perspectives, both as it relates to security and reporting
- Plan to gather information for the implementation
- Implement the Best Practice Process
- Describe Risk Management (fka Describe Financial Reporting Compliance)
- Describe Objects
2. Data Migration
- Explain the steps to import and export data
- Populate an import template
- Troubleshoot errors during an import
- Assemble existing risk control matrix data
- Validate an import template prior to import
3. Manage Objects
- Relate objects to one another
- Create Control Test Plans
- Describe how to create objects
- Create Review and Approve workflows for objects
4. Manage Issues
- Describe an Issue lifecycle
- Manage the issue resolution process
- Create and manage issues
- Explain security for Issues
5. Advanced Access Controls (fka Application Access Controls Governor)
- Explain Entitlements
- Explain Simulation and Remediation
- Configure Conditions
- Create and manage Models and Controls
6. Initial Financial Reporting Compliance Configuration (fka Initial Configuration)
- Configure a pod for Financial Reporting Compliance Implementation
- Configure and manage Lookups
- Configure Module Objects
7. Security
- Describe jobs and processes related to security
- Configure and assign Job and Duty roles
- Configure and create Perspective-based Data Security policies
- Describe Job roles, Duty roles, and Data Security policies
8.Manage Assessments
- Initiate ad-hoc assessments
- Complete assessments
- Initiate planned assessments
- Create assessment templates and plans
- Explain planned and ad-hoc assessments
9. Initial Advanced Controls Configuration (fka Fusion GRC Set Up and Administration)
- Explain reporting
- Configure security
- Describe modules
- Create and manage Perspectives
10. Advanced Financial Controls (fka Transaction Controls Governor)
- Configure Patterns
- Configure Functions
- Describe Models and Controls
- Configure Filters
- Explain Result Management
NEW QUESTION 38
What would happen to an access incident in Advanced Access Controls (AAC) that has been remediated and has a status of "Closed," but poses a conflict again during a subsequent evaluation of controls?
- A. The incident is copied and a new incident is created based on the original incident.
- B. The incident remains in "Closed" status and additional remedial action cannot be taken.
- C. The incident status changes to "Assigned."
- D. The incident is deferred.
- E. The incident remains in "Closed" status and assigned users receive a notification that additional access incidents have been identified.
Answer: C,E
NEW QUESTION 39
You are implementing Advanced Access Controls for a client. You need to create a model that returns users who have been assigned a specified access point but excludes a specific operating unit.
Which business object(s) do you need to add to your model to accomplish this objective?
- A. Access Point and User Business Object
- B. Fusion Access Condition
- C. Access Point and Fusion Access Condition
- D. Access Entitlement
- E. Access Point
Answer: D
NEW QUESTION 40
Which statement related to Advanced Access Controls is true?
- A. If helps enforce segregation of duties.
- B. It analyzes transaction records.
- C. If helpsperform risk analysis and evaluation.
- D. It documents risks and controls.
Answer: A
NEW QUESTION 41
You need to schedule thereport "Access Violations by User." Which two steps do you take to create the saved parameters for the report schedule? (Choose two.)
- A. Click Save Report Parameters to create saved settings.
- B. Navigate to Administration Reports.
- C. Select Display Scheduled Reports.
- D. Highlight the report name and click Run Now.
- E. Navigate to Scheduling under Setup and Administration.
Answer: A,D
NEW QUESTION 42
An organization has a list of companies with which they no longer wish to do business. The list is not stored in their ERP Could but isstored in a file.
Which transaction model will identify payments made to these companies?
- A. Create an Imported business object that can be used in conjunction with Oracle's pre-built "Payment" object. One both objects are in your model, add this standardfilter: the "Payment" object's "Remit to Supplier Name" is similar to the custom object's "Company Name" by 95%.
- B. You cannot define this model because imported objects from a file cannot be used with delivered objects.
- C. Add a configurable attribute "Company Name" to Oracle's pre-built "Payment" object. Then add this standard filter: "Remit to Supplier Name"equals "Company Name".
- D. Create an Imported business object that can be used in conjunction with Oracle's pre-built "Payables Invoice" object. Once both objects are in your model, add this standard filter: the "Payables Invoice" object's "Supplier Name" equals the custom object's "Company Name".
Answer: D
NEW QUESTION 43
How do youassociate a risk to a control?
- A. To associate a control to a risk, the control needs to be in the Review state.
- B. The only way to create risk-control associations is through data import.
- C. In the related object section of process definition, add the control tothe risk.
- D. On the Related Objects tab of control definition, add the risk.
- E. On the Related Controls tab of risk definition, add the control.
Answer: E
NEW QUESTION 44
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 Manage Module Perspectives screen
- B. The Create Control screen
- C. The Manage Object Perspectives screen
- D. The Create Perspectives screen
- E. TheImport template
Answer: D
NEW QUESTION 45
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 XML editor, such as Excel.
- B. Open with an HTML editor.
- C. Click the Export File button.
- D. Navigate to Monitor Jobs and click the message link for the export job.
- E. Click the Item Results link.
Answer: A,C,D
NEW QUESTION 46
An assessor is trying to complete an operational assessment on a control for manual AP Invoice entry and is reviewing Prior Results.
Which statement is true about viewing Prior Results for this control?
- A. He or she will be able to review results of all prior assessments of all types for all controls.
- B. He or she will beable to review only results of prior operational assessments for this control.
- C. He or she will be able to review results of all prior assessments of all types for this control.
- D. He or she will be able to review results of all prior Audit tests and operational assessments for this control.
- E. He or she will be able to review results of all prior operational assessments for all controls.
Answer: D
NEW QUESTION 47
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. Select Actions > Create Access Control from the "Controls" tab of Advanced Controls.
- B. 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.
- C. 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.
- 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. Finally, deploy an access control in the "Controls" tab of Advanced Controls, and select the access model you created.
- E. 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.
Answer: D
NEW QUESTION 48
Which two steps are required to set up two levels of approval for new controls,which are added after the initial import? (Choose two.)
- A. Identify the other roles to be provided for control managers.
- B. On the Controls tab of the Import template, set the control state to NEW for each control record.
- C. Identify the organizations or business units for which users will perform review orapproval.
- D. Identify users who will perform control review and approval.
Answer: C,D
NEW QUESTION 49
You are implementing Advanced Financial Controls and you want to identify suspect transactions where the payment amount is less than $20 USD. However, you only want the results returned to be temporary.
What will you build in order to accomplish your objective?
- A. Model
- B. Filter
- C. Template
- D. Control
- E. Business object
Answer: A
NEW QUESTION 50
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 51
When you view or edit a transaction incident, you may seeextra columns that are not present in the business objects used in the control.
What three kinds of control logic or conditions can cause this? (Choose three.)
- A. Between (when using a date attribute)
- B. Not in
- C. Average Function
- D. Equals (when the same attribute is used on both sides of the condition)
- E. Similar
Answer: A,B,C
NEW QUESTION 52
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: Open; State: In Edit
- B. Status: Closed; State: Closed - Awaiting Approval
- C. Status: On Hold; State: In Review
- D. Status: On Hold; State: Awaiting Approval
- E. Status: On-Hold; State: Reported
- F. Status: Closed; State: Final Close
- G. Status: Open; State: Approved
- H. Status: Open; State: New
Answer: A,C,G,H
NEW QUESTION 53
Your client has asked you to define a transaction model to identify duplicate invoices based on Invoice Numbers and Invoice Amounts.
Which twostandard filters can be combined to accomplish this? (Choose two.)
- A. The "Payables Invoice" object's "Invoice ID" is similar to the "Payables Invoice" object's "Invoice Number".
- B. The "Payables Invoice" object's "Invoice Number" is equal to itself.
- C. The "Payables Invoice" object's "Invoice Number" is equal to the "Payables Invoice" object's "Invoice ID."
- D. The "Payables Invoice" object's "Invoice Amount" is equal to itself.
- E. The "Payables Invoice" object's "Supplier ID" does not equal itself.
Answer: C,E
NEW QUESTION 54
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 model with three condition filters where the Function Name Equals "Create Supplier",
"Create Invoice" and"Create Payment" - B. Construct one model: "Create Supplier & Create Invoice & Create Payment"
- C. Construct two models, and create controls based on the models: "Create Supplier & Create Invoice",
"Create Invoice & Create Payment" - D. Construct one entitlement: "Create Supplier & Create Invoice & Create Payment"
- E. Construct three controls, and create controls based on the models: "Create Supplier & Create Invoice",
"Create Invoice & Create Payment", "Create Supplier & Create Payment"
Answer: B
NEW QUESTION 55
How do you add values to a Risk Type list of values?
- A. Populate the Import template with the new values in the Issue Severity column on the Controls tab.
- B. Because you cannot add newvalues, update one of the existing lookup codes to what the client wants it to be.
- C. Add the lookup codes to the GRC_RISK_TYPE Lookup Type.
- D. Add the lookup codes to the GRCM_RISK_TYPE Lookup Type.
- E. Use the default lookup codes because there is no way to update the existing ones.
Answer: D
NEW QUESTION 56
Whichthree objects can be related to issues when creating an issue on the Manage Issues page? (Choose three.)
- A. Risks
- B. Processes
- C. Controls
- D. Test Plans
- E. Assessments
- F. Perspectives
Answer: A,B,C
NEW QUESTION 57
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