Oracle 1Z0-1107-2 Online Practice Questions and Exam Preparation

Oracle 1Z0-1107-2 Online Questions & Answers

• Question 21:

  Which technology helps in calculating and recommending discounts for single payments in Oracle Payments? (Choose the best Answer.)

  A. Adaptive Intelligence
  B. 4. Digital Assistant
  C. Internet of Things
  D. Machine Learning
  A. Adaptive Intelligence

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  Explanation

  Adaptive Intelligence is the technology that helps in calculating and recommending discounts for single payments in Oracle Payments. Adaptive Intelligence uses machine learning and data science to analyze historical payment data and provide optimal discount suggestions based on various factors, such as payment amount, due date, supplier profile, and cash flow1.

  References: Oracle Financials Business Process Foundations Associate Rel 2

• Question 22:

  Which three attributes can be used as selection criteria when submitting a payment process request? (Choose three.)

  A. Payment Terms
  B. Supplier Type
  C. Invoice Type
  D. Pay Through Date
  E. Pay Groups
  C. Invoice Type
  D. Pay Through Date
  E. Pay Groups

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  Explanation

  These are three attributes that can be used as selection criteria when submitting a payment process request. A payment process request is a request to pay one or more invoices or other payments within a single payment batch. You can use various attributes to filter and select the invoices or payments that you want to include in the payment process request2. Some of these attributes are: Invoice Type: This attribute allows you to select invoices based on their type, such as standard, credit memo, debit memo, prepayment, or interest. Pay Through Date: This attribute allows you to select invoices based on their due date or discount date. Only invoices that are due or eligible for discount on or before the pay through date are selected. Pay Groups: This attribute allows you to select invoices based on their pay group, which is a grouping of invoices that share common payment attributes, such as payment method, payment priority, or payment terms.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 23:

  Your organization is exploring solutions that enable their employees to submit expenses by using opt such as SMS or Microsoft Teams. Which technology will help your organization achieve this? (Choose the best Answer.)

  A. Adaptive Intelligence
  B. Blockchain
  C. digital Assistant
  D. IOT
  C. digital Assistant

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  Explanation

  Digital Assistant is the technology that will help your organization achieve the solution of enabling their employees to submit expenses by using opt such as SMS or Microsoft Teams. Digital Assistant is a conversational interface that allows users to interact with various applications and services through natural language. Users can use Digital Assistant to create and submit expense reports, attach receipts, review approvals, and check reimbursements using their preferred channels, such as SMS, Microsoft Teams, Slack, or Facebook Messenger2.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 24:

  Which four factors are responsible for calculating taxes on Receivables transactions? (Choose four.)

  A. Products
  B. Plans
  C. Processes
  D. Programs
  E. Parties
  F. Places
  A. Products
  B. Plans
  C. Processes
  E. Parties
  F. Places

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  Explanation

  These are the four factors that are responsible for calculating taxes on Receivables transactions. Products are the goods or services that are sold, and they may have different tax rates or exemptions. Plans are the pricing or discounting schemes that may affect the taxable amount. Processes are the business flows or events that trigger tax calculation, such as invoicing, adjusting, or crediting. Parties are the entities involved in the transaction, such as customers, suppliers, or legal entities, and they may have different tax statuses or registrations. Places are the locations where the transaction occurs or where the products are delivered, and they may have different tax jurisdictions or rules1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 25:

  Your manager has requested you to evaluate the attributes based on which the scoring is calculated in the collections business process. Which three attributes would you suggest to your manager? (Choose three.)

  A. Number of Unidentified Receipts
  B. Delinquency Amo
  C. Number of Delinquencies
  D. Due Invoices
  E. Number of Unapplied Receipts
  B. Delinquency Amo
  C. Number of Delinquencies
  D. Due Invoices

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  Explanation

  These are three attributes that can be used to evaluate the scoring in the collections business process. Scoring is a process that assigns a numeric value to customers based on their payment behavior and credit risk. Scoring helps collections agents to prioritize their actions and focus on the most critical customers. Scoring can be based on various attributes, such as delinquency amount, number of delinquencies, due invoices, days sales outstanding, credit limit utilization, or payment performance1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 26:

  Which two statements are true about creating case folders within the Customer Statement to Collections business process? (Choose two.)

  A. Billing transactions must belong to the same bill-to customer.
  B. Billing transactions must be of the same currency.
  C. Billing transactions can belong to multiple case folders.
  D. Billing transactions can be of multiple currencies.
  C. Billing transactions can belong to multiple case folders.
  D. Billing transactions can be of multiple currencies.

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  Explanation

  These are two true statements about creating case folders within the Customer Statement to Collections business process. A case folder is a collection of billing transactions that are related to a specific issue or dispute with a customer. You

  can create case folders to track and resolve issues that prevent customers from paying their invoices on time. You can also assign case owners, statuses, and priorities to each case folder1. Some facts about creating case folders are:

  Billing transactions can belong to multiple case folders, which means that a single invoice can be part of more than one issue or dispute. Billing transactions can be of multiple currencies, which means that you can include invoices with different currencies in the same case folder. Billing transactions must belong to the same bill-to customer, which means that you cannot mix invoices from different customers in the same case folder. Billing transactions must be of the same currency conversion type, which means that you cannot mix invoices with different conversion methods, such as corporate or spot rate, in the same case folder.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 27:

  Collector Jim Jones is working on a delinquent customer account and he has created some action items to follow up with this customer, including making a phone call and a personal vis-it. On which infotile can he find these action items? (Choose the best Answer.)

  A. Delinquent
  B. Activities
  C. Strategy Tasks
  D. Promises
  B. Activities

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  Explanation

  Activities is the infotile where you can find the action items that you have created to follow up with a delinquent customer. Activities is an infotile that shows the list of tasks that you have scheduled or completed for your collections activities, such as phone calls, emails, letters, visits, or disputes. You can use it to view the details of each activity, such as status, priority, due date, and outcome1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 28:

  One of the internal auditors in your organization is reviewing subledger journals and want more details about the rules that were used to generate these journals. What would you use to review these rules? (Choose the best Answer.)

  A. Account Monitor
  B. the Account Override page
  C. the Analyze Journal Entry page
  D. the Create Journals page
  C. the Analyze Journal Entry page

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  Explanation

  The Analyze Journal Entry page is the tool that you can use to review the rules that were used to generate subledger journals. The Analyze Journal Entry page allows you to view the details of subledger journal entries, such as source, category, ledger, accounting date, and status. You can also drill down to the subledger accounting events and lines, and view the accounting rules and mappings that were applied to create the journal entries1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1

• Question 29:

  Which process involves the comparison of planned versus actual figures by designing re- ports with the help of state-of-the-art reporting tools? (Choose the best Answer.)

  A. Accounting Transformation
  B. Invoice to Cash
  C. Procure to Pay
  D. Budget to Report
  D. Budget to Report

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  Explanation

  Budget to Report is the process that involves the comparison of planned versus actual figures by designing reports with the help of state-of-the-art reporting tools. It covers the steps from creating and managing budgets, forecasting and planning, consolidating and closing financial periods, and generating and analyzing financial reports1.

  References: Oracle Financials Business Process Foundations Associate Rel 2

• Question 30:

  Sharon is working as a collections manager and he is interested in performing an analysis based on the difference between the date of settlement and the due date of payment of invoice. Which key performance indicator will help him to review this information? (Choose the best Answer.)

  A. Promise to Pay
  B. Average Days Delinquent
  C. Percent Current
  D. Collector Effective Index
  E. Days Sales Outstanding
  B. Average Days Delinquent

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  Explanation

  Average Days Delinquent is the key performance indicator that will help you to perform an analysis based on the difference between the date of settlement and the due date of payment of invoice. Average Days Delinquent is a measure of how long it takes for customers to pay their overdue invoices. It is calculated by dividing the total number of delinquent days by the number of delinquent invoices. It indicates the average delay in payment and the effectiveness of your collections efforts1.

  References: Oracle Financials Business Process Certified Foundations Associate Rel 1