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

Oracle 1Z0-1057-23 Online Questions & Answers

• Question 111:

  Which four standard objects can you configure to include business specific attributes by using Application Composer for Project Execution Management? (Choose four.)

  A. Project Gates
  B. Project Resource Request
  C. Project Issues
  D. Project Milestones
  E. Project Resource Assignment
  F. Project Deliverables
  A. Project Gates
  C. Project Issues
  D. Project Milestones
  F. Project Deliverables

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  Explanation/Reference:

  Application Composer is a tool that allows you to configure standard objects or create custom objects to include business specific attributes for Project Execution Management. Four of the standard objects that you can configure using Application Composer are: Project Gates: These are checkpoints that mark the completion of a phase or stage in a project lifecycle. Project Issues: These are problems or risks that affect the progress or outcome of a project. Project Milestones: These are significant events or achievements that indicate the status or completion of a project or task. Project Deliverables: These are products or services that are produced or provided as part of a project or task. Project Resource Request and Project Resource Assignment are not standard objects that you can configure using Application Composer. These are features that allow you to request and assign resources for projects and tasks based on various criteria such as availability, qualifications, preferences, etc. Reference: https://docs.oracle.com/en/cloud/saas/projectportfolio-management/20c/oapfm/manage-projectexecution.html#OAPFM2356201

• Question 112:

  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
  B. Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000

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  Explanation/Reference:

  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. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/project-accounting.html#OAPFM2355710

• Question 113:

  You recently made some changes to a project contract and the current status of the contract is Under Amendment. Identify the correct sequence of activities that can take place on that contract. (Choose the best answer.)

  A. On Hold > Pending Acceptance > Active
  B. On Hold > Pending Approval > Active
  C. Pending Approval > Pending Acceptance > Active
  D. Pending Acceptance > Pending Approval > Active
  C. Pending Approval > Pending Acceptance > Active

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  Explanation/Reference:

  Reference https://docs.oracle.com/cloud/latest/common/FASCC/FASCC1124283.htm Topic-Contract Actions and Status Changes: Explained

• Question 114:

  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
  B. Project Integration Specialist

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  Explanation/Reference:

  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.

  Reference:

  https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356151

• Question 115:

  Your customer complains that their project resources do not report their time promptly, which has resulted in incorrect reporting of project performance. What should you do to fix this problem? (Choose the best answer.)

  A. Enable track missing time at project unit.
  B. Enable track missing time at project type.
  C. Enable track missing time at project template.
  D. Enable track missing time at business unit.
  A. Enable track missing time at project unit.

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  Explanation/Reference:

  To fix the problem of project resources not reporting their time promptly, you should enable track missing time at project unit. This option allows you to track and report on missing time entries for project resources based on their work assignments and schedules. You can also set up notifications and reminders to prompt resources to enter their time on a regular basis. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manageproject-time-and-labor.html#OAPFM2356011

• Question 116:

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

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  Explanation/Reference:

  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. Reference:

  https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-resources.html#OAPFM2356181

• Question 117:

  You have projects and tasks defined with transaction controls, which does not allow certain types of charges to the project. Your business needs to create invoices in AP with this project every period and hence would like to make the process easier by creating a distribution set. As you create the distribution set, you notice that these distribution set lines are not validated against the project transaction controls and you are allowed to save it without any validation errors. Identify the reason why the project transaction controls are not applied. (Choose the best answer.)

  A. There is no expenditure type information available on the distribution set line.
  B. There is no expenditure organization information available on the distribution set line.
  C. There is no expenditure item date information available on the distribution set line.
  D. The account code combination is not available on the distribution set line.
  C. There is no expenditure item date information available on the distribution set line.

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  Explanation/Reference:

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/18c/oapfm/project-costing-configuration-define-project-costing-integrations.html#OAPFM174886 How can I validate distribution sets for projects information? Oracle Fusion Projects performs validations on Oracle Fusion Payables distribution sets for payables invoices at the time you create the actual distribution set lines. It validates the project and task number during the invoice validation. Distribution sets are typically used on recurring transactions, and the associated project does not have transaction controls. When you create a distribution set in Oracle Fusion Payables, the distribution set line is not validated against the project transaction controls in Oracle Fusion Projects because you do not enter an expenditure item date, which is required for transaction control validation. The expenditure item date is not provided because you use the distribution sets for an indefinite period of time.

• Question 118:

  You have a billable project for which the following details are provided: Associated Inception-To-Date (ITD) Project Actual Cost: USD 60

  Associated Project Budgeted Cost: USD 300

  Contract Amount: USD 1000

  Project Funded Amount: USD 750

  Sum of Existing Revenue Events: USD 80

  Identify the Associated Project Spent revenue that will get generated based on the preceding details. (Choose the best answer.)

  A. USD 184
  B. USD 120
  C. USD 134
  D. USD 70
  D. USD 70

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  Explanation/Reference:

  Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjb/manage-project-contract-revenue.html#OAPJB164173 Associated Project Percent Spent Example The following formula calculates the percent spent revenue for the associated project. ((Sum of ITD Actual Cost for every subtask that is part of the associated task / Sum of Total Budgeted cost for every task that is part of associated task) x Associated Project Funded Amount) ?Sum of Existing Invoice Event Amounts for the Associated Project ((60/300) x 750) ?80 = 70 ((Actual Cost / Budgeted Cost) x Budgeted Revenue) ?Sum of Revenue Event Amount

• Question 119:

  Your customer wants to assign the Net 45 payment term to all sets except for the corporate business unit specific set, which is assigned the Net 15 payment term. At transaction entry, the list of values for payment terms consists of only one set of data: the set that is assigned to the transaction's business unit.

  Which reference data sharing method would you set up to meet the customer requirement? (Choose the best answer.)

  A. assignment to one set only with common values
  B. assignment to one set only; no common values allowed
  C. assignment to multiple sets; common values allowed
  D. assignment to multiple sets; no common values allowed
  D. assignment to multiple sets; no common values allowed

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  Explanation/Reference:

  Reference https://docs.oracle.com/en/cloud/saas/applications-common/19b/facia/define-enterprise-structures.html#FACIA462453 Reference Data Sharing Methods

  Variations exist in the methods used to share data in reference data sets across different types of objects. The following list identifies the methods:

  Assignment to one set only, no common values allowed. This method is the simplest form of sharing reference data that allows assigning a reference data object instance to one and only one set. For example, Asset Prorate Conventions are

  defined and assigned to only one reference data set. This set can be shared across multiple asset books, but all the values are contained only in this one set.

  Assignment to one set only, with common values. This method is the most commonly used method of sharing reference data that allows defining reference data object instance across all sets. For example, Receivables Transaction Types are

  assigned to a common set that is available to all the business units. You need not explicitly assign the transaction types to each business unit. In addition, you can assign a business unit-specific set of transaction types. At transaction entry,

  the list of values for transaction types includes the following:

  Transaction types from the set assigned to the business unit. Transaction types assigned to the common set that is shared across all business units.

  Assignment to multiple sets, no common values allowed. The method of sharing reference data that allows a reference data object instance to be assigned to multiple sets. For instance, Payables Payment Terms use this method. It means

  that each payment term can be assigned to one or more than one set. For example, you assign the payment term Net 30 to several sets but assign Net 15 to a set specific only to your business unit. At transaction entry, the list of values for

  payment terms consists of only the set that is assigned to the transaction's business unit.

  Note: Oracle Fusion Applications contains a reference data set called Enterprise. Define any reference data that affects your entire enterprise in this set. Also update the data set going forward as you create new reference data items.

• Question 120:

  After completing setups in a source environment, your customer wants to move the setup data to a target environment. Identify the two statements related to task list scope, which you must consider before taking a decision based on the customer requirement. (Choose two.)

  A. Exported setup data can be filtered by specific scope values if the business object has scope enabled for the setup data export.
  B. Exported setup data cannot be filtered by specific scope values if the business object has scope enabled for the setup data export.
  C. A scope value is used to assign users who can perform a task within an implementation project.
  D. A task list can be segmented by a scope value and a task can be performed for each qualifying value of the selected object.
  A. Exported setup data can be filtered by specific scope values if the business object has scope enabled for the setup data export.
  D. A task list can be segmented by a scope value and a task can be performed for each qualifying value of the selected object.

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  Explanation/Reference:

  Reference https://docs.oracle.com/cd/E60665_01/common/OAFSM/OAFSM1166430.htm#OAFSM116