Oracle Risk Management Cloud 2019 Implementation Essentials - 1Z0-1058 FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

Your client needs to perform Design Review and Certification assessment for all their controls. Identify two options that show how this requirement can be met. (Choose two.)

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

Discussion 0

Correct Answer: C,E Vote an answer

Question 2

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. When the 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 3

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 and 2 B. Controls 1, 2, and 4 C. None D. All controls E. Controls 2 and 4

Discussion 0

Correct Answer: A Vote an answer

Question 4

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: Approved B. Status: On Hold; State: Awaiting Approval C. Status: Closed; State: Closed - Awaiting Approval D. Status: Closed; State: Final Close E. Status: Open; State: In Edit F. Status: On-Hold; State: Reported G. Status: On Hold; State: In Review H. Status: Open; State: New

Discussion 0

Correct Answer: A,E,G,H Vote an answer

Question 5

You are implementing Advanced Access Controls 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. 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. 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. 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.

Discussion 0

Correct Answer: D Vote an answer

Question 6

Your customer needs to conduct monthly Operational Effectiveness assessments for controls across two organizations (North America and EMEA). Your customer requires that assessment results for North America be accessible only to users in North America and likewise for EMEA. Additionally, the Chief Risk Officer reviews the assessment results by Business Process every week.
How should you design perspectives to achieve this?

A. Use the Business Process hierarchy for security and the Region hierarchy for reporting of controls. B. Use the Region hierarchy initially, and later use both Region and Business Process hierarchies for security. C. Use the Region hierarchy for security and the Business Process hierarchy for reporting of controls. D. Use both Region and Business Process hierarchies solely for reporting purposes.

Discussion 0

Correct Answer: C Vote an answer

Question 7

Which three tasks should be completed before starting the Financial Reporting Compliance implementation?
(Choose three.)

A. Create a project plan with objectives, goals, and exit criteria. B. Plan to go-live with a simple scope and later expand the solution to include additional business units/organizations/compliance frameworks. C. Complete control review and assessment for one period/cycle with the actual business owners. D. Identify Financial Reporting Compliance users for everyday use, administration, and sustained use. E. Migrate the organization's existing risk and control matrix into Financial Reporting Compliance.

Discussion 0

Correct Answer: B,C,D Vote an answer

Question 8

You have created a risk definition R100 and have created a new control C100 for this risk. No user has been assigned the Risk or Control reviewer and approver roles. What will be the state of R100 and C100 after submitting?

A. Both R100 and C100 will be in the "New" state. B. Both R100 and C100 will be in the "In Review" state. C. Both R100 and C100 will be in the "Awaiting Approval" state. D. Both R100 and C100 will be in the "Approved" state.

Discussion 0

Correct Answer: C Vote an answer