Oracle 1Z0-1057-23 Online Practice Questions and Exam Preparation

Oracle 1Z0-1057-23 Online Questions & Answers

• Question 1:

  Your customer wants additional project information for detailed account balance maintenance, reconciliation, and reporting. Identify the configuration in subledger accounting that can be set up to fulfill this requirement. (Choose the best answer.)

  A. Accounting Method
  B. Journal Rules
  C. Supporting References
  D. Accounting Rule
  E. Mapping Sets
  C. Supporting References

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  explanation:

  Explanation/Reference:

  Reference

  https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125357.htm#OAPFM11 25357

  Assignment of Supporting References

  Supporting references may be used to capture transaction values on journal entry lines. A supporting reference can be used on a journal entry rule set only if it's assigned a source from the event class of the journal entry rule set.

  Creating Supporting References: Explained

  Supporting references are used to store additional source information about a subledger journal entry at the line level.

  Supporting references with balances establish subledger balances for a particular source and account for a particular combination of supporting references plus the account combination.

  For example:

  If a journal line contains a supporting reference that includes two sources, Customer Type and Customer Name.

  Balances are created for the account combination, plus customer name and customer type.

  Examples of how you may want to use supporting reference balances are to:

  Facilitate reconciliation back to the subledgers and source systems by tagging journal entries with transaction and reference attributes. Create balances by dimensions not captured in the chart of accounts. Reporting using dimensions not

  captured in the chart of accounts. Enrich Oracle Fusion Business Intelligence Applications reporting on subledger journals.

  Profit and loss balances by dimensions not captured in the chart of accounts

  Define supporting references to hold additional supporting information for detailed account balance maintenance or reconciliation and reporting requirements.

• Question 2:

  Which two attributes are available while enabling a task as a business object for social networking?

  A. Task
  B. Project Number
  C. Task Number
  D. Creation Date
  E. Project
  A. Task
  E. Project

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  explanation:

  Explanation/Reference:

  To enable a task as a business object for social networking, you need to select the task and the project attributes. These attributes allow you to identify the task and the project it belongs to, and to view the social conversations related to them. Task number and creation date are not available as attributes for social networking. Project number is available, but it is not required to enable a task as a business object. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-tasks.html#OAPFM2355891

• Question 3:

  You search for resources to fulfill a project resource request but are unable to proceed after receiving the following error message: "The search for resources cannot be completed because the project resource search index is not available. Contact your help desk."

  Identify the cause for this error message. (Choose the best answer.)

  A. The index is not in the process.
  B. The index has been built.
  C. The index is in the process of being updated.
  D. The most recent update of the index finished successfully.
  C. The index is in the process of being updated.

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  explanation:

  Explanation/Reference:

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/fapfm/implementing-project-execution-management-applications.html#FAPFM1724547

  Topic Submitting the Process to Maintain Project Resource Search Index:

  Procedure

  Submit the Maintain Project Resource Search Index job set to update the resources that appear on the Search and Evaluate Resources page when a resource manager searches for resources to fulfill project resource requests. The job set

  consists of a set of processes that facilitate efficient and rapid searches for qualified resources.

  Resource managers can't search for resources or view resource details if the search index isn't available for a project resource request with qualifications or keywords. For project resource requests without qualifications and keywords,

  resource managers can search for and evaluate resources based on resource availability even if the search index isn't current or available.

  Caution: The search index isn't available if the Maintain Project Resource Search Index job set process fails, or while the process is running.

• Question 4:

  You are managing a project based on a Waterfall model. You define a project and a project plan in Oracle Project Portfolio Management with tasks and subtasks applicable to each of the phases of the project: Initiation, Discovery, Design, Build, Test, and Deploy. As a project manager, you want to define deliverables for your project requirements that are elucidated during the Discovery phase of your project. You now want to understand how the inheritance between requirements, tasks, and deliverables works. Identify the two correct statements in this respect. (Choose two.)

  A. A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.
  B. The association of a deliverable with a task is dependent on associating a requirement with a task.
  C. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
  D. You associate a deliverable with a task, independent of associating a requirement with a task.
  C. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
  D. You associate a deliverable with a task, independent of associating a requirement with a task.

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  explanation:

  Explanation/Reference:

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapem/define-project-deliverables.html#OAPEM1122079 Associate deliverables with one or many tasks or requirements at any level. Associate existing deliverables to tasks or requirements or create deliverables directly for tasks or requirements. You can delete a deliverable in New status if it is not associated with tasks or requirements.

  Can deliverables for projects and tasks be inherited from associated requirements? No. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement. You associate a deliverable with a task, independent of associating a requirement with a task.

• Question 5:

  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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  explanation:

  Explanation/Reference:

  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 primary forecast Financial plan type Determines whether a financial plan type is used for creating approved budget versions or primary forecast versions that are used for plan comparison or project performance reporting. Default financial plan type Financial plan type Determines whether the financial plan type is the default 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 software Project plan type Indicates whether project planning is performed in Microsoft 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 currencies Financial and project plan type Enables entry of plan amounts in currencies other than the project currency.

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

• Question 6:

  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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  explanation:

  Explanation/Reference:

  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.

  

  Project and contract components used to determine invoice amounts and generate invoices.

• Question 7:

  Which three Cost Collection Flexfield core attributes can be derived during import if not explicitly entered in a transaction document? (Choose three.)

  A. Billable Flag
  B. Expenditure Type
  C. Capitalizable Flag
  D. Funding Source
  E. Work Type
  A. Billable Flag
  B. Expenditure Type
  C. Capitalizable Flag

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  explanation:

  Explanation/Reference:

  The Cost Collection Flexfield is a descriptive flexfield that captures additional information about project costs. It has three core attributes that are required for every cost transaction: Billable Flag, Expenditure Type, and Capitalizable Flag. These attributes can be derived during import if not explicitly entered in a transaction document, based on various rules and sources such as expenditure type defaults, project type defaults, transaction source defaults, etc. Funding Source and Work Type are not core attributes of the Cost Collection Flexfield, but context-sensitive segments that can be optionally enabled for certain transaction sources or business units. These segments capture additional information about how the costs are funded or what type of work is performed. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356141

• Question 8:

  Your customer has a requirement to allow adjustment and reversals for transactions imported from an external expense entry system.

  Which section on the Manage Project Transaction Sources page will allow you to enable these options?

  A. Documents
  B. Transaction Source
  C. Document Entries
  D. Transaction Entries
  C. Document Entries

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  explanation:

  Explanation/Reference:

  The section on the Manage Project Transaction Sources page that will allow you to enable these options is Document Entries. This section allows you to define the attributes and options for each document entry type that is associated with a transaction source. A document entry type represents a group of transactions that have similar characteristics and processing rules. For example, you can define a document entry type for expense reports and enable adjustment and reversal options for this document entry type. The Documents section allows you to define the attributes and options for each document type that is associated with a transaction source. A document type represents a source document that contains one or more transactions. For example, you can define a document type for expense reports and enable validation and transfer options for this document type. The Transaction Source section allows you to define the attributes and options for each transaction source that is used to import transactions from an external system. A transaction source represents a system or application that provides transactions to Oracle Fusion Project Costing. For example, you can define a transaction source for expense reports and enable costing and accounting options for this transaction source. The Transaction Entries section allows you to review and manage the transactions that are imported from an external system using a transaction source. You can view, edit, adjust, reverse, validate, and transfer transactions in this section. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356241

• Question 9:

  Which product offering simplifies the planning, budgeting, and forecasting capabilities as part of Project Management Cloud?

  A. Enterprise Contract Management
  B. Project Billing
  C. Project Control
  D. Project Costing
  C. Project Control

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  explanation:

  Explanation/Reference:

  Project Control is the product offering that simplifies the planning, budgeting, and forecasting capabilities as part of Project Management Cloud. Project Control allows you to create and manage project plans, budgets, and forecasts using various methods and sources. You can also monitor and control project performance and variances using dashboards and reports. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-projectplans.html#OAPFM2356061

• Question 10:

  Which four notification templates are predefined?

  A. Password Reset Template
  B. New Account Template
  C. Forgot Password Template
  D. Forgot Username Template
  E. New Account Manager Template
  A. Password Reset Template
  B. New Account Template
  D. Forgot Username Template
  E. New Account Manager Template

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  explanation:

  Explanation/Reference:

  https://docs.oracle.com/en/cloud/saas/sales/18c/oscus/setting-up-applications-security.html#OSCUS2287154

  Predefined Notification Templates

  Notification Template

  Description

  Password Expiry Warning Template

  Warns the user that a password is expiring soon and provides instructions for resetting the password.

  Password Expiration Template

  Notifies the user that a password has expired and provides instructions for resetting the password.

  Forgot User Name Template

  Sends the user name to a user who requested the reminder.

  Password Generated Template

  Notifies the user that a password has been generated automatically and provides instructions for resetting the password.

  Password Reset Template

  Sends a reset-password link to a user who requested a new password. Users can request new passwords by selecting the Forgot Password link on the application Sign In page, or by selecting the Password option on the Preferences page

  ( Settings and Actions > Set Preferences).

  Password Reset Confirmation Template

  Notifies the user when a password has been reset.

  New Account Template

  Notifies a user when a user account is created and provides a reset-password link.

  New Account Manager Template

  Notifies the user's manager when a user account is created.

  When you create a user category, it's associated automatically with the predefined notification templates, which are all enabled.

  You can't edit the predefined templates. However, you can create templates and disable the predefined versions. Each predefined event can be associated with only one enabled notification template at a time.