Oracle Risk Management Cloud 2020 Implementation Essentials - 1Z0-1058-20 FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

You have scheduled quarterly assessments for a Control object at the beginning of the year with futuredates.
However, the test plans associated with the Control object were updated before the assessment could be started. Which statement is true about this scenario?

A. The assessment will be associated with the version of the test plans from the time of assessment initiation. B. The scheduled assessment process will end in error. C. The user will have the option to select the older or newer versions of the test plans during the assessment process. D. The updated test plans will become available during the assessment.

Discussion 0

Correct Answer: A Vote an answer

Question 2

Which three are true about implementing a best practice solution for Financial Reporting Compliance?
(Choose three.)

A. It promotes go-live with minimal acceptance testing and user training. B. It promotes successful adoption and minimizes on-going cost of operation. C. Large scope of project requires higheffort for maintenance and administration. D. It provides maximum return on investment with minimum project risk. E. It promotes rapid implementation and go-live.

Discussion 0

Correct Answer: B,D,E Vote an answer

Question 3

You have created security roles for the Procure-to-Pay (P2P) Control Manager for the EMEA region in your client's organization. But, there are two problems with his or hersecurity configuration.
Problem 1: This person should not receive notifications to complete control assessments, but currently he or she does.
Problem 2: Also, although he or she has access to controls associated with EMEA, he or she is unable to access controls created for individual regions within EMEA.
You have given him or her the following job role:
* EMEA P2P Control Manager Job Role
* Seeded Control Manager Duty Composite
* Seeded Control Certification Assessor Duty Composite
* EMEA P2P Control Manager DataSecurity Policy
* Seeded Control Manager Data Security Policy
* Perspective filter where Region Perspective "equals" EMEA
* Perspective filter where Process Perspective "equals" P2P
Which two actions need to be taken to correct the problems? (Choose two.)

A. While defining data security policy, set the perspective value to EMEA including all child nodes of the EMEA region. B. Add to the EMEA P2PControl Manager Data Security Policy the seeded Control Certification Assessor Data Security Policy. C. Create EMEA P2P Control Certification Assessor Data Security Policy striped by both EMEA and P2P perspectives and assign to the job role. D. Remove Control Certification Assessor Composite from the EMEA P2P Control Manager job role.

Discussion 0

Correct Answer: A,B Vote an answer

Question 4

You are working with the customer to gather Risk-Control data for the data import process. The customer has information in multiple formats. Which format should be used for importing the data?

A. .txt B. .doc C. .xlsx D. .pdf E. .xml

Discussion 0

Correct Answer: E Vote an answer

Question 5

Which three risk assessment activity types areavailable in Financial Reporting Compliance? (Choose three.)

A. Quantitative Analysis B. Qualitative Analysis C. Design Review D. Certify E. Assess Risk F. Audit

Discussion 0

Correct Answer: C,D,E Vote an answer

Question 6

You have completed the data import process with no errors. You created process, risks, controls, and one perspective. Controls were related to perspectives. You have provided the customer with the Control Manager security role. Whenthe customer logs in to Financials Risk Compliance (FRC), the customer cannot see any controls.
Which step was missed during the import process?

A. Data security policies for Controls were not created. B. The parent process was never approved. C. The Controls were not related to any risk objects. D. The Control Method was not set to a valid value.

Discussion 0

Correct Answer: D Vote an answer

Question 7

When validating imported data, the control manager at your client has identified an incorrect Risk-Control mapping; that is, Control A was mapped incorrectly to Risk B instead of Risk A. What needs to be done to fix the mapping?

A. Option B B. Option A C. Option C D. Option D

Discussion 0

Correct Answer: A Vote an answer

Question 8

The control manager needs to associate an existing test plan to an additional assessment type, Audit Test. The existing test plan is associated only with the Design Review assessment type.
How canthis be accomplished?

A. The control's test plan should be updated to include both Audit Test and Design Review as assessment types. B. The controlmanager does not need to update the control because any initiated assessment will include all control test plans. C. The control manager should create a new test plan with Audit Test and Design Review as assessment types. D. The control's test plan should be updated to Audit Test as the assessment type.

Discussion 0

Correct Answer: A Vote an answer