Oracle 1Z0-1057-22 Online Practice Questions and Exam Preparation

Oracle 1Z0-1057-22 Online Questions & Answers

• Question 1:

  What are three configuration items that you need to set up by using the Project Organizations functional area in Project Financial Management configurations? (Choose three.)

  A. Manage Project Unit Organizations
  B. Mange Business Unit
  C. Manage Project Organization Classifications
  D. Mange Project Types
  E. Manage Project Unit Options
  A. Manage Project Unit Organizations
  C. Manage Project Organization Classifications
  E. Manage Project Unit Options

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  Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio- management/19b/oapfm/define-project-organizations.html#OAPFM3094543 Topic - Manage Project Unit Organizations

• Question 2:

  Your company uses an accounting calendar with periods that are identical to calendar months. A contract resource has been identified to work for six months on an accounting close cycle project. The resource is planned to start with 10 days

  left in the first period and to end 20 days into the last period. For the remaining periods, the resource must be loaded on all working days of the month. You are required to distribute the budget, forecast, and planning amounts across periods

  based on the task duration.

  Which predefined spread curve must be used to meet this requirement? (Choose the best answer.)

  A. Daily Spread Basis
  B. Back Loaded
  C. Bell Curve
  D. S-Curve
  E. Even
  A. Daily Spread Basis

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  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project- control-configuration-manage-spread-curves.html#OAPFM79760 Predefined Spread Curves Name Description Dist. Factors

  Even Linear distribution of financial or project plan values across periods. 10-10-10-10- 10-10-10-1010-10 Prorated Linear distribution of financial or project plan values across periods, with an exception of 10-10-10-10- Even the first period and last period in the financial plan. Financial or project plan values for 10-10-10-10- the first period and last period are prorated based on the number of days in the period. 10-10 Back Back-loaded distribution of financial or project plan values across periods. Assigned 0-5-10-15-20- Loaded amounts increase over succeeding periods. 25-30-35-40Front Front-loaded distribution of financial or project plan values across periods. Assigned 45-40-35-30- Loaded amounts decrease over succeeding periods. 25-20-15-10- 5-0 S Curve S-shaped distribution of financial or project plan values across periods. 18-10-8-10- 15-17-18-1715-8 Bell Curve Bell-shaped distribution of financial or project plan values across periods. Assignment of 0-4-10-12-14- plan values is highest in the middle periods. 12-10-4-0-0 Daily Spread is based upon the number of days in each financial period throughout the None Spread duration of the task assignment. Amounts are proportionally distributed throughout all Analysis periods for the duration of the task assignment

• Question 3:

  Which setup option is common to both financial and project plan types?

  A. Manage the options for creating control budgets in Oracle Fusion Budgetary Control.
  B. Enable the entry of plan amounts in currencies other than the project currency.
  C. Identify whether the plan type is the default selection when you create budget or forecast versions.
  D. Enable the use of a workflow for managing budget or forecasting status changes.
  B. Enable the entry of plan amounts in currencies other than the project currency.

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  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project- control-configuration-manage-financial-and-project-plan-types.html#OAPFM75315 Financial and Project Plan Setup Options

  The following table describes the basic budget, forecast, or project plan setup options that determine how a plan type is used in the context of a project. Except for third-party scheduling, you can't edit these options at the project level.

  Option Location Description

  Planning amounts Financial plan type Indicates that the financial plan type supports the creation of versions with the following amounts:

  Cost amounts

  Revenue amounts

  Both cost and revenue amounts

  Either cost or revenue amounts

  Approved budget or Financial plan type Determines whether a financial plan type is used for creating primary forecast approved budget versions or primary forecast versions that are used for plan comparison or project performance

  reporting.

  Default financial plan Financial plan type Determines whether the financial plan type is the default type selection when you create budget or forecast versions. Workflows Financial plan type Enables the use of a workflow for managing budget

  or forecast status changes.

  Third-party scheduling Project plan type Indicates whether project planning is performed in Microsoft software Project.

  If third-party scheduling is disabled in the project plan type, you can use the associated project or project template to

  create a project in Microsoft Project. However, you can't

  export the new project or link it to one created in Oracle

  Fusion Project Portfolio Management.

  Multiple transaction Financial and project Enables entry of plan amounts in currencies other than the currencies plan type project currency.

  Budgetary control Financial plan type Manages options for creating control budgets in Oracle settings Fusion Budgetary Control.

• Question 4:

  Your customer wants a team member who is assigned to a project to be able to create and submit a forecast, but not to be able to approve the forecast. What is the default project role that you should assign to the person in the project to meet this requirement? (Choose the best answer.)

  A. Project Manager
  B. Project Administrator
  C. Project Application Administrator
  D. Project Accountant
  B. Project Administrator

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  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjm/project- administrator-job-role.html#Project_Administrator_privileges Project Manager has duty role `Project Forecast Approval Duty' assigned but Project Administrator has duty role `Project Forecast Inquiry Duty' ?no approval authority Both roles have duty role `Project Forecast Management Duty' which enables them to Allow creation, submission, update, and deletion of working versions of project forecasts. (Cloud _Roles_Duties.xlsx)

• Question 5:

  Identify two correct role templates available on the Oracle Entitlement Server to generate roles for Project Organization Security. (Choose two.)

  A. Project Manager Template for Project Organization Security
  B. Project Administrator Template for Project Organization Security
  C. Project Creator Template for Project Organization Security
  D. Project Accountant Template for Project Organization Security
  E. Project Billing Specialist Template for Project Organization Security
  B. Project Administrator Template for Project Organization Security
  C. Project Creator Template for Project Organization Security

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  Reference: https://docs.oracle.com/en/cloud/saas/applications-common/r13- update17d/faser/implementing-security-in-oracle-fusion-project-portfolio- management.html#FASER1722595

  Ref to "Securing Project Financial Management and Grants Management Applications" Table lists predefined enterprise roles and the type of security that grants the role access to data in a work area or dashboard.

  Enterprise Role Work Area or Dashboard Data Security Based On Project Accountant Asset Project business unit

  Project Accountant Costs Project expenditure

  business unit

  Project Accountant Revenue Contract business unit

  Project Project Financial Management Project business unit

  Administrator Project organization

  Project Billing Invoices Contract business unit

  Specialist

  Project Creator Project Financial Management Project business unit Project organization

  Project Project Management Infolet Project assignment

  Management Duty Dashboard

  Project Project Performance Dashboard Project assignment

  Management Duty

  Project Manager Project Management Infolet Project assignment Dashboard

  Project Manager Project Performance Dashboard Project assignment Project Manager Project Management Project assignment

  Project Manager Project Manager Dashboard Project assignment Project Team Project Financial Management Project assignment Member

  Grants Accountant Invoices Contract business unit

  Grants Accountant Revenue Contract business unit

  Grants Awards Contract business unit

  Administrator

  Grants Contracts Contract business unit

  Administrator

  Grants Project Financial Management Project business unit

  Administrator

  Principal Awards Award assignment

  Investigator

  Principal Contracts Award assignment

  Investigator

  Principal Project Financial Management Project assignment

  Investigator

• Question 6:

  Using Oracle Time and Labor, your client wants to put in a validation process that allows only a certain number of maximum hours an employee can charge in a day, and a minimum of hours he or she can report in a week. What feature would you use to meet this requirement? (Choose the best answer.)

  A. project time validation rules
  B. time calculation rules
  C. time entry rules
  D. time audit rules
  C. time entry rules

• Question 7:

  Your organization has created an Enterprise Project Structure (EPS) and your executives review the overall project labor demand by using the EPS. Identify two correct statements about the periodic project labor demand. (Choose two.)

  A. Labor Demand FTE is calculated as Quarterly Allocation hours divided by Quarterly FTE hours, if a quarter is used as the basis for viewing labor demand.
  B. Labor Demand FTE is calculated as Yearly Allocation hours divided by Yearly FTE hours, if a year is used as the basis for viewing labor demand.
  C. Labor Demand FTE is calculated as Project Allocation hours divided by Project FTE hours, if project duration is used as the basis for viewing labor demand.
  D. Labor Demand FTE is calculated as Monthly Allocation hours divided by Monthly FTE hours, if a period is used as the basis for viewing labor demand.
  A. Labor Demand FTE is calculated as Quarterly Allocation hours divided by Quarterly FTE hours, if a quarter is used as the basis for viewing labor demand.
  B. Labor Demand FTE is calculated as Yearly Allocation hours divided by Yearly FTE hours, if a year is used as the basis for viewing labor demand.

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  Reference:

  https://docs.oracle.com/cloud/farel10/projectcs_gs/OAPEM/OAPEM1461017.htm#OAPEM1313472 Project Labor Demand: How It's Calculated

  Project executives want to track the labor demand in projects in their organization. The Project Hierarchy Viewer provides project executives a hierarchical view of the enterprise project structure (EPS) along with the labor demand in terms of

  full-time equivalent (FTE).

  Settings That Affect Project Labor Demand

  Project application administrators must do the following to set up how project labor demand is calculated:

  Organize projects into hierarchical groups on the Manage Enterprise Project Structure page. Change the quarterly FTE hours for the organization on the Define Project Management Implementation Options page, if different from 520 hours.

  Note: You can choose to view labor demand annually instead of quarterly. The Project Hierarchy Viewer uses the current date to determine which year or quarter to display.

  How Project Labor Demand Is Calculated

  The Project Hierarchy Viewer calculates project labor demand in the following manner:

  Spreads the allocation hours from the Manage Project Resources page evenly over the days that the resources are allocated to the project.

  Divides the quarterly project allocation hours by the quarterly FTE hours to get the labor demand. Rolls up the quarterly and annual labor demand up the hierarchy.

• Question 8:

  Your customer wants to perform billing based on the Percent Spent invoice method. Identify two setups that are required in project contracts for calculating invoice amounts as per their requirement. (Choose two.)

  A. billing events
  B. bill plan
  C. expenditure items
  D. billing controls
  E. invoice method
  B. bill plan
  D. billing controls

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  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjb/create- customer-contract.html#OAPJB70183 Bill Plan ?Create a bill plan within a contract that uses the invoice method you require. Assign the bill plan to one or more contract lines. A set of instructions on a contract that define how to invoice a customer. Multiple contract lines on a contract can use the same or different bill plans. Invoice Method is used in creating Bill Plan ?not a separate setup. Billing Controls ?Contract feature that controls the types of transactions, dates, and amounts a customer may be invoiced for and revenue can be recognized for a contract or contract line. Define billing controls at the contract or contract line level. Topic - Creating a Contract for Percent Spent Invoice and Revenue Methods: Worked Example This example describes a scenario where transactions for a contract line need to be invoiced and the revenue recognized using the percent spent method. What are the revenue and invoice method classifications? Percent Spent What is the billing extension calculation level for the contract line and project association? Project level Summary of the Tasks Create a contract, create the percent spent contract lines, create the bill plan, create the revenue plan. Prerequisites Create a project. Create the project plan for percent spent revenue. Specify the plan type on the percent spent billing extension. Create an approved cost budget. Create cost and burden rates. Enter labor and expense transactions for the project. Collect costs for the transactions. Configuration Steps Creating the Contract Creating the Percent Spent Contract Lines Creating the Bill Plan - A set of instructions on a contract that define how to invoice a customer. Multiple contract lines on a contract can use the same or different bill plans. Creating the Revenue Plan - Common set of instructions for recognizing revenue within a contract. Multiple contract lines on a contract can use the same or different revenue plans. Invoice method classifications determine how transactions are invoiced. The invoice method determines how invoice amounts are derived. Enter an invoice method on a bill plan, which you create for a contract and assign to contract lines to provide a set of instructions for creating an invoice. Create billing controls for a contract or contract line to define the valid transaction dates, billing resources, and amount limits for transactions associated with the contract. Generate invoices to calculate the invoice amounts for a contract. The following figure illustrates the components of a project and a contract that determine invoice amounts, and the relationships between the components.

  

• Question 9:

  While opening an organization tree on the Manage Organization Trees page, you notice that the hierarchy status is displayed as Inactive. Identify the two reasons for the organization tree to be in Inactive status. (Choose two.)

  A. You used Create Tree in the action menu.
  B. You used Create Tree Version in the action menu.
  C. You used View Tree Version in the action menu.
  D. You selected the Edit icon for opening the hierarchy.
  E. You opened the hierarchy by clicking the name.
  A. You used Create Tree in the action menu.
  D. You selected the Edit icon for opening the hierarchy.

• Question 10:

  Select two correct statements about project classifications on a template. (Choose two.)

  A. Set Code is not required for a project class category in a project classification.
  B. Project Classification is a mandatory field on a project template.
  C. When a project is created from a template, the required project classifications must be entered.
  D. Project class category in a project classification must be associated with a Set Code.
  A. Set Code is not required for a project class category in a project classification.
  C. When a project is created from a template, the required project classifications must be entered.