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1Z0-958 Oracle Risk Management Cloud 2018

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Oracle · 1Z0-958

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Question 1

Single choice

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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Correct answerD

Question 2

Single choice

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 can this be accomplished?

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

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Correct answerB

Question 3

Single choice

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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Correct answerB

Explanation

References:
https://docs.oracle.com/en/cloud/saas/risk-management/18c/fafrc/using-financial-reporting-compliance.pdf

Question 4

Single choice

How do you identify Financial Reporting Compliance Cloud's key stakeholders?

A
Identify users who need to create and submit expense reports easily.
B
Identify users who will create customer invoices, and receive and apply customer payments.
C
Identify executives who need to certify internal controls for SOX or similar mandates.
D
Identify executives who will manage customer balances and recognize revenue.

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Correct answerD

Question 5

Single choice

When running Synchronize Transaction from the Data Sources page of Application Configurations, which statement is true when you have two models using invoice and payment business objects?

A
One job will run for the two objects based on transactions dated before the Transaction Created As of Date.
B
One job will run for the two objects and the Transaction Created As of Date has no impact on the data.
C
One job will run for the two objects based on transactions dated after the Transaction Created As of Date.
D
Two jobs will run for the two objects based on transactions dated after the Transaction Created As of Date.

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Correct answerC

Question 6

Single choice

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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Correct answerD

Question 7

Single choice

During implementation, you created a Financial Reporting Compliance superuser and assigned this user the following roles: Enterprise Risk and Control Manager
IT Security Manager
Employee

The superuser logs in to Financial Reporting Compliance but is not able to create new Data Security Policies.

What is wrong?

A
The superuser's account is inactive and his or her account needs to be activated.
B
The application will not allow a user to both create users and assign them roles.
C
The superuser's account is created but the synchronization jobs have not been run.
D
The superuser's account is not yet approved by his or her supervisor in Financial Reporting Compliance.

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Correct answerC

Question 8

Single choice

You build an access model with two entitlements. Each entitlement has four access points. The entitlements do not have any access points in common.

How many access point combinations will be analyzed?

A
20
B
16
C
8
D
4
E
25

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Correct answerC

Question 9

Multiple choice

Which three objects can be related to issues when creating an issue on the Manage Issues page? (Choose three.)

A
Test Plans
B
Assessments
C
Processes
D
Perspectives
E
Risks
F
Controls

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Correct answersC, E, F

Explanation

References:
https://docs.oracle.com/en/cloud/saas/risk-management/18c/fafrc/resolving-issues.html#FAFRC1545728

Question 10

Multiple choice

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
Perspective Items
B
Controls
C
Control Test Plans
D
Perspective-Control

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Correct answersA, B, C

Explanation

References:
https://docs.oracle.com/en/cloud/saas/risk-management/18c/farrm/implementing-risk-management.pdf

Question 11

Single choice

You are remediating access incidents in Advanced Access Controls (AAC), and have just completed the remediation of a segregation of duties conflict for users in Fusion Security by removing the conflicting access from the users.

What status do you set for the incident in AAC?

A
Resolved
B
Remediation
C
Remedy
D
Authorized
E
Accepted

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Correct answerB

Explanation

References:
https://www.oracle.com/a/ocom/docs/applications/erp/oracle-adv-access-controls-cloud-ds.pdf

Question 12

Single choice

You are configuring security and you do not want the risks to go through the review and approve process each time they are updated.

How will you meet this requirement?

A
Add the Risk Reviewer Composite duty role to the person who creates the risks so he or she would be able to review them before saving the record.
B
Use only the Risk Approver Composite duty role in the configurations so the risks will not go through the review process.
C
Ensure that only the upper management is given the Risk Reviewer Composite duty role so they could review the risks that they want to review.
D
Ensure that no user has been assigned a job role that includes the Risk Reviewer Composite or Risk Approver Composite Duty Role.

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Correct answerB

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