1Z0-1057-23 Real Exam Questions and Verified Answers

Question 1 Multiple choice

You are now the project manager of a newly created implementation project.

Which two items are not part of managing an implementation project?

A
Assign tasks to various users who are responsible for managing setup data.
B
Monitor the progress of completing setup tasks.
C
Select the offering you want to implement.
D
Generate a list of setup tasks.
E
Enable optional functional areas and features by opting in.

Show answer and explanation

Correct answers: C, E

Explanation

Selecting the offering you want to implement and enabling optional functional areas and features by opting in are not part of managing an implementation project. These are part of configuring an implementation project, which is done before managing an implementation project. Configuring an implementation project allows you to define the scope and features of your implementation based on your business needs.
Managing an implementation project involves assigning tasks to various users who are responsible for managing setup data, monitoring the progress of completing setup tasks, and generating a list of setup tasks. These are part of executing an implementation project, which is done after configuring an implementation project. Executing an implementation project allows you to perform the setup tasks and validate the setup data for your implementation.
References:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356021

Question 2 Multiple choice

Your customer wants to generate accounting based on project information associated with the transaction for all subledger transactions. Identify three subledger applications for which the project source is available for deriving accounts when configuring subledger accounting. (Choose three.)

A
Receipt Accounting
B
Payables
C
Fixed Asset
D
Purchasing

Show answer and explanation

Correct answers: A, B, D

Explanation

Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-costing-configuration-define-project-costing-integrations.html#OAPFM3094605
Topic-Deriving Projects-Related Accounts

Question 3 Multiple choice

You are trying to create a custom infolet but are not able to find the "Create Infolet" option in the Infolet repository window.

Which two steps should be completed before you can access the "Create Infolet" option?

A
You must activate Page Composer.
B
You should be on the Project Custom Objects page.
C
You must be in an active sandbox.
D
You should enable the "Create Infolet" option from the Personalize Springboard page.

Show answer and explanation

Correct answers: A, C

Explanation

Ref:
https://docs.oracle.com/cd/E83857_01/saas/applications-common/18b/oaext/page-modification.html#OAEXT1640891

Question 4 Single choice

Your organization has a requirement to create and apply a new theme for the application user interface.

Which option allows you to achieve this requirement?

A
Structure Page
B
Appearance Page
C
Setup and Maintenance Work Area
D
User Interface Text

Show answer and explanation

Correct answer: B

Explanation

The option that allows you to achieve this requirement is Appearance Page. This page allows you to create and apply a new theme for the application user interface by selecting various options such as colors, fonts, logos, etc. You can also preview and publish your theme changes using this page. Structure Page is not an option that allows you to achieve this requirement. This page allows you to customize the structure and layout of the application user interface by adding or removing components such as regions, tabs, fields, etc. Setup and Maintenance Work Area is not an option that allows you to achieve this requirement. This work area allows you to perform various setup tasks for implementing and configuring Oracle Fusion applications using predefined templates and spreadsheets. User Interface Text is not an option that allows you to achieve this requirement. This option allows you to customize the text and labels of the application user interface by editing or translating them using various tools such as Text Editor or Translation Workbench.
References:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/set-up-project-financial-management.html#OAPFM2356331

Question 5 Multiple choice

Identify three purposes for which the project resource search index is used. (Choose three.)

A
Display resource details
B
Filter counts while you search for resources
C
Calculate Resource Qualification Scores
D
Provide absence details for resources
E
Calculate Resources Availability Scores

Show answer and explanation

Correct answers: A, B, C

Explanation

The project resource search index is used to store and retrieve information about project resources such as their availability, qualifications, preferences, etc. The project resource search index is used for three purposes: Display resource details: The project resource search index provides the resource details such as name, email, job title, organization, etc. that are displayed on the resource search page.
Filter counts while you search for resources: The project resource search index provides the filter counts that show how many resources match each filter criterion on the resource search page.
Calculate Resource Qualification Scores: The project resource search index provides the qualification information such as skills, certifications, languages, etc. that are used to calculate the Resource Qualification Scores for each resource based on their match with the resource request. The project resource search index does not provide absence details for resources or calculate Resource Availability Scores. These are provided by other components such as Oracle Fusion Absence Management and Oracle Fusion Human Capital Management.
References:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-resources.html#OAPFM2356181

Question 6 Single choice

You have four resources in your organization: P, Q, R, and S.

Resource P -Project or resource calendar is active.

Resource Q -Project resource request dates are within the project or resource calendar effective dates.

Resource R -Resource calendar is complex, it does not contain seven days, and it contains more than one pattern and shift.

Resource S -Number of working days within the requested date range is not zero on the project or resource calendar.

Identify the resource for whom Resource Availability Capacity Score will not be calculated. (Choose the best answer.)

A
P
B
Q
C
R
D
S

Show answer and explanation

Correct answer: C

Explanation

Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/evaluate-and-assign-resources.html#OAPEM916359Topic-ResourceAvailableCapacityScore:HowIt'sCalculatedCalendars
Used to Calculate Resource Available Capacity Scores How the Resource Available Capacity Score Is Calculated

Question 7 Single choice

Stigma consulting has been hired by a client to implement Project Management Cloud.

Which role should they assign to a user for using the rapid implementation feature to set up the Project Financial Management offering by populating and uploading a Microsoft Excel workbook?

A
Project Executive
B
Project Integration Specialist
C
Project Administrator
D
Project Application Administrator

Show answer and explanation

Correct answer: B

Explanation

The Project Integration Specialist role should be assigned to a user for using the rapid implementation feature to set up the Project Financial Management offering by populating and uploading a Microsoft Excel workbook. This role allows the user to access the Functional Setup Manager and perform the common setups for project costing and billing using predefined templates and spreadsheets. The user can also monitor and validate the setup data using reports and dashboards.
References:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356151

Question 8 Single choice

You cannot generate invoices for a project expenditure item. After running the Generate Invoices program for a billable expenditure item and active contract, the process completes successfully but without any billing, and does not provide any error logs.

The program's processing summary is as follows:

Billing Event Errors 0

Ineligible Contracts 0

Successfully Billing Events Created 0

Ineligible Contract Lines 0
Billing Transaction Exception Errors 0

Ineligible Bill Plans 0

Billing Transaction Exception Warnings 0

Ineligible Associated Projects 0

Successful Billing Transactions 0

Ineligible Expenditure Items 0

Draft Invoice Exception Errors 0

Ineligible Events 0

Draft Invoice Exception Warnings 0

Successful Draft Invoices 0

What was the invoice method classification set to that caused this behavior? (Choose the best answer.)

A
Amount Based
B
Rate Based
C
As Incurred
D
Percent Complete

Show answer and explanation

Correct answer: A

Explanation

Reference https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJB/F1087458AN139C2.htm Topic ?Invoice and
Revenue Rates: How They Are Determined Oracle Fusion Project Billing uses bill rates, burdening, and transfer price schedules to derive standard bill rates, multipliers, markups, and bases for calculating potential revenue when the revenue method classification on a revenue plan is as billed, as incurred, or rate based. Similarly, bill rates derive invoice amounts when the invoice method classification on a bill plan is rate based.

Question 9 Single choice

A consulting services company is currently working on a business transformation project for your client, which spans multiple years. At the first period close, the consulting services company has recognized revenue and the accounting entry created is:

Dr Unbilled Receivables 40,000

Cr Revenue 40,000

At the end of the period, the client is sent an associated bill.
What would be the corresponding invoice accounting entry?
(Choose the best answer.)

A
Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000
B
Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000
C
Dr Accounts Receivables 40,000Cr Revenue 40,000
D
Dr Unearned Revenue 40,000Cr Revenue 40,000

Show answer and explanation

Correct answer: B

Explanation

When the invoice is created, the unbilled receivables balance is reduced and the accounts receivables balance is increased by the invoice amount. This is because the revenue has already been recognized and the invoice is just a request for payment from the customer.
References:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/project-accounting.html#OAPFM2355710

Question 10 Single choice

Your organization performs revenue recognition based on the Labor and Non-labor Burden schedule types. Identify the setup required to enable this kind of revenue recognition. (Choose the best answer.)

A
Create a revenue method with a revenue method classification of Amount Based.
B
Create a revenue method with a revenue method classification of Rate Based.
C
Create a revenue method classification with a revenue method of Percent Spent.
D
Create a revenue method classification with a revenue method of Percent Complete.

Show answer and explanation

Correct answer: B

Explanation

To perform revenue recognition based on the Labor and Non-labor Burden schedule types, you need to create a revenue method with a revenue method classification of Rate Based. This classification allows you to use the burdened cost rates of labor and non-labor resources as the basis for revenue recognition.
The burdened cost rates are derived from the burden schedules that are assigned to the project or task.
References:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-revenue.html#OAPFM2355981