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1Z0-1058 Online Practice Questions and Answers

Questions 4

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. Add the lookup codes to the GRC_RISK_TYPE Lookup Type.

C. Because you cannot add new values, update one of the existing lookup codes to what the client wants it to be.

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.

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Questions 5

Your client has configured separate roles for control assessor and control assessment reviewer. The control assessor has submitted his or her assessment. The control assessor realizes later that he or she has forgotten to attach a critical test evidence document to the assessment and needs to attach it now. How can this be accomplished?

A. The assessor can request the reviewer to attach the document during the review.

B. On the Assessment tab in the Control definition, the assessor can select the assessment and click the Complete Assessment button. He or she can attach the document and resubmit the assessment.

C. The assessor can request the reviewer to reject the assessment. After the assessment is rejected, the assessor can then attach the document and resubmit the assessment.

D. On the Manage Assessments page, the assessor can select the assessment and click the Reopen button. He or she can then attach the document and resubmit the assessment.

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Questions 6

After adding a new control in Financial Reporting Compliance, the control owner clicks Submit. Users with

the Control Reviewer and Control Approver roles exist.

What is the expected outcome?

A. The control goes into the "Waiting for Approval" state.

B. The control goes into the "New" state.

C. The control goes into the "Approved" state.

D. The control goes into the "In Review" state.

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Questions 7

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 this control.

B. He or she will be able to review results of all prior Audit tests and operational assessments for this control.

C. He or she will be able to review only results of prior operational assessments for this control.

D. He or she will be able to review results of all prior operational assessments for all controls.

E. He or she will be able to review results of all prior assessments of all types for all controls.

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Questions 8

Which statement related to Advanced Access Controls is true?

A. If helps enforce segregation of duties.

B. If helps perform risk analysis and evaluation.

C. It analyzes transaction records.

D. It documents risks and controls.

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Questions 9

During implementation, you created a risk object and successfully mapped it to a control object. The

client's Risk Owner is able to access the risk but not the control.

Why did this happen?

A. The Risk Administrator needs to run the synchronize jobs to populate the mapping.

B. The Risk Owner account is inactive.

C. The Risk Owner role does not have the right privileges.

D. The risk and control objects are inactive and need to be made active.

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Questions 10

Which two options can be assigned to a duty role? (Choose two.)

A. Functional Security Policy

B. Abstract Role

C. Data Security Policy

D. Job Role

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Questions 11

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 Controls were not related to any risk objects.

C. The parent process was never approved.

D. The Control Method was not set to a valid value.

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Questions 12

You want to identify Controls with the most Incidents, with the condition that the identified Controls should

have 80% of all Incidents. To do this, you have imported a custom object that contains the number of

incidents associated with each control, and have added that object to a transaction model.

Which pattern filter must you now apply?

A. Anomaly Detection

B. Mean

C. Pareto

D. Absolute Deviation

E. Clustering

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Questions 13

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 "In Review" state.

B. Both R100 and C100 will be in the "Awaiting Approval" state.

C. Both R100 and C100 will be in the "Approved" state.

D. Both R100 and C100 will be in the "New" state.

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Questions 14

You are helping your client identify and define their controls. You have 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 Create Control screen

B. The Manage Object Perspectives screen

C. The Import template

D. The Create Perspectives screen

E. The Manage Module Perspectives screen

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Questions 15

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 Fusion Access Condition

B. Access Entitlement

C. Access Point and User Business Object

D. Access Point

E. Fusion Access Condition

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Questions 16

You can relate objects in Financial Reporting Compliance. Which statement is true about editing or creating related objects in the Related Objects section on the Risk Definition page?

A. You can relate only process objects.

B. You can relate a new process and a new control.

C. You can relate only control objects.

D. You can relate only an existing control, but not a new control.

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Questions 17

Your client has asked you to define a transaction model to identify duplicate invoices based on Invoice

Numbers and Invoice Amounts.

Which two standard filters can be combined to accomplish this? (Choose two.)

A. The "Payables Invoice" object's "Supplier ID" does not equal itself.

B. The "Payables Invoice" object's "Invoice ID" is similar to the "Payables Invoice" object's "Invoice Number".

C. The "Payables Invoice" object's "Invoice Amount" is equal to itself.

D. The "Payables Invoice" object's "Invoice Number" is equal to the "Payables Invoice" object's "Invoice ID."

E. The "Payables Invoice" object's "Invoice Number" is equal to itself.

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Questions 18

The GRC Business owner responsible for reviewing and investigating access incidents related to the "Order to Cash" perspective does not see any worklists for the generated results. You have validated that:

1.

Other business owners are able to view their assigned worklists without any problem

2.

Incidents have been generated for the controls related to Order to Cash

3.

The business owner's assigned roles contain the correct functional privileges and data access to the correct perspective values

What is the reason the business owner cannot see any worklists for the generated incidents?

A. The Result Management Perspective Assignment has not been linked.

B. The underlying model is not linked to Order to Cash.

C. The business owner was recently assigned the role and the worklist needs to be refreshed.

D. Worklist assignment does not include the business owner.

E. The Control Perspectives are not linked to the control.

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Exam Code: 1Z0-1058
Exam Name: Oracle Risk Management Cloud 2019 Implementation Essentials
Last Update: Mar 17, 2024
Questions: 75 Q&As

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