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

Oracle 1Z0-1057-23 Online Questions & Answers

• Question 91:

  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
  A. Amount Based

  ---

  Explanation/Reference:

  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 92:

  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.

  ---

  Explanation/Reference:

  Reference

  https://docs.oracle.com/cloud/farel10/projectcs_gs/OAPEM/OAPEM1461017.htm#OAPEM 1313472

  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 93:

  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

  ---

  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 94:

  You create a contract with two contract lines: Line 1 and Line 2. You create separate bill plans: A for contract Line 1 and B contract for Line 2, with a different bill set number (11 for Bill Plan A and 22 for Bill Plan B).

  Then Bill Plan A is allocated against Project X ?Task 10, and Bill Plan B is allocated against Project Y ?Task 30.

  Based on the preceding setup, you are generating invoices. Identify two correct statements about invoice generation in this scenario. (Choose two.)

  A. Both the contract lines create only a single invoice because they are using the same contract.
  B. Two invoices are created using the same contract.
  C. Bill set number drives the grouping of transactions.
  D. Invoice generation does not depend on bill plan. The invoices are created based on the contract line.
  B. Two invoices are created using the same contract.
  C. Bill set number drives the grouping of transactions.

  ---

  Explanation/Reference:

  Ref:

  https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJB/F1087456AN1006D.htm What's a bill set?

  Transactions originating from different bill plans with the same bill set number on a contract are included on the same invoice. If a contract has multiple bill plans and each have different values for the bill set, Oracle Fusion Project Billing

  creates a separate invoice for each bill plan

• Question 95:

  When scheduling the Update Project Performance Data process to run on a periodic basis, which summarization method would you select? (Choose the best answer.)

  A. Bulk
  B. Detail
  C. Incremental
  D. Summary
  C. Incremental

  ---

  Explanation/Reference:

  Reference https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/define-project-organizations.html#OAPFM177674 Settings That Affect Performance Data Summarization You can summarize performance data for a

  project unit, business unit, a range of projects, or projects managed by a project manager. When you run the Update Project Performance Data process from the Scheduled Processes page, select one of the summarization methods from the

  following table:

  Summarization Method

  Usage

  Incremental

  Summarizes new transactions that are yet to be summarized Delete and re-summarize

  Correct summary data when the source system data changes outside the regular transaction flow.

  Do not use this summarization method when you run the Update Project Performance Data Without Producing Report process unless you are advised to do so.

  Resource breakdown structure

  Migrate all summary data from one resource breakdown structure version to the next. If you select this option, you must also specify the resource breakdown structure header.

• Question 96:

  You are trying to create a project purchase order (PO) but you are unable to select Expenditure Organization in the PO. Identify two reasons for this problem. (Choose two.)

  A. The organization is not classified as a project-owning organization.
  B. The organization is not classified as a project expenditure organization.
  C. The organization is not included in the organization tree that is assigned to the business unit that owns the PO.
  D. The organization is classified as a project unit.
  B. The organization is not classified as a project expenditure organization.
  C. The organization is not included in the organization tree that is assigned to the business unit that owns the PO.

  ---

  Explanation/Reference:

  Ref: Implementing-Project-Financial-Management-and-Grants-Management.pdf

  Chapter 3 ?Define Project Organizations Page # 12 Topic ?Selecting Organization Hierarchies for the Business Unit The following conditions are required for an organization to be eligible to be a project expenditure organization:

  You must assign the Project Expenditure Organization classification to the organization.

  The organization must belong to the hierarchy that you specify in the project implementation options for the business unit.

• Question 97:

  Which two statements describe how the Resource Qualification Score is calculated?

  A. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource does not have the qualification.
  B. An individual's score is 100% if the resource request has a qualification, but no proficiency is specified, and the resource has the qualification.
  C. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification that meets the specified proficiency.
  D. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification with a proficiency that is lower or higher than specified.
  B. An individual's score is 100% if the resource request has a qualification, but no proficiency is specified, and the resource has the qualification.
  C. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification that meets the specified proficiency.

  ---

  Explanation/Reference:

  The Resource Qualification Score is a percentage that indicates how well an individual matches the qualifications required for a resource request. An individual's score is 100% if either of the following conditions are met: The resource request has a qualification, but no proficiency is specified, and the resource has the qualification. This means that any level of proficiency is acceptable for the qualification. The resource request has a qualification with a specified proficiency and the resource has the qualification that meets the specified proficiency. This means that the resource has the exact level of proficiency required for the qualification. An individual's score is not 100% if the resource request has a qualification with a specified proficiency and the resource does not have the qualification or has a different level of proficiency than required. In this case, the score is calculated based on how close the resource's proficiency is to the required proficiency. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-resources.html#OAPFM2356001

• Question 98:

  Your customer has different accounting and project accounting periods, and sometimes enters invoices with an invoice date in the open project accounting and closed accounting periods. Which two statements are true about how project accounting and accounting dates will be populated in such invoices? (Choose two.)

  A. Accounting date is the same as the original invoice date.
  B. Project accounting date is the same as the original invoice date.
  C. Project accounting date is the first day of the first open project accounting period.
  D. Project accounting date is the last day of the open project accounting period.
  E. Accounting date is the first day of the first open accounting period.
  A. Accounting date is the same as the original invoice date.
  C. Project accounting date is the first day of the first open project accounting period.

  ---

  Explanation/Reference:

  When an invoice is entered with an invoice date in the open project accounting and closed accounting periods, the accounting date is the same as the original invoice date, but the project accounting date is the first day of the first open project accounting period. This ensures that the invoice is accounted in the correct accounting period and recognized in the correct project accounting period. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-invoices.html#OAPFM2355911

• Question 99:

  Your company creates a separate project for infrastructure services, so as to track these costs separately and then allocate to various projects that use the services of the infrastructure team. You want to allocate these costs by first attributing a fixed percentage of the source amount to each project and then spread it across tasks based on the actual labor hours charged to each task.

  Which allocation basis method would you use to meet this requirement? (Choose the best answer.)

  A. spread evenly
  B. target percentage and prorate
  C. target percentage and spread evenly
  D. prorate
  B. target percentage and prorate

  ---

  Explanation/Reference:

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapjc/allocate-project-costs.html#OAPJC94831 Spread Evenly The allocation rule divides the source pool amount equally among all the chargeable target tasks included in the rule. This is the most simple and direct basis method. Target Percentage and Spread Evenly Specify the percentage of the source pool that is required to allocate to each target line. The total specified target percentage must always equal 100 percent. The allocation rule calculates the amount to allocate to the target line, and then spreads the results evenly among the chargeable tasks. Prorate The allocation generation uses the attributes defined in the allocation rule to derive the rate at which the source pool amount is apportioned among the target projects and tasks. For this basis method, the allocation rule uses the basis attributes to apportion the source amount among all the tasks defined by the rule. The Prorate basis method provides precise control over how the rule distributes the source pool. Target Percentage and Prorate The allocation rule first uses the target percentage to calculate the amount to allocate to the line, and then apportions the results among all the tasks. The Target Percentage and Prorate basis method provides precise control over how the rule distributes the source pool.

• Question 100:

  Your organization has decided to enable the common accounting and project accounting periods option while defining business unit implementation options.

  Where will you maintain the accounting period statuses if this option has been enabled?

  A. Project Foundation
  B. Project Costing
  C. General Ledger
  D. Subledger Accounting
  A. Project Foundation