Oracle 1Z0-511 Online Practice Questions and Exam Preparation

Oracle 1Z0-511 Online Questions & Answers

• Question 1:

  An organization uses Oracle Projects and has fully installed Oracle Human Resources. Which statement does not apply to this scenario?

  A. Employees can be entered and maintainedin Oracle Projects.
  B. Jobs can be setup in Oracle Projects.
  C. Organizations can be defined In Oracle Projects.
  D. Organization Hierarchiescan be defined in Oracle Projects.
  E. WorkerAssignments can be viewed in Oracle Projects.
  D. Organization Hierarchiescan be defined in Oracle Projects.

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  Note:

  *Oracle Projects fully integrates with Oracle Human Resources to keep track of employees and information relevant to them, such as bill rates and mailing address.

• Question 2:

  An organization has specific departments that manage capital projects. How would you ensure that only these departments own capital projects?

  A. Use the transaction control Functionality at the project level.
  B. Use the settings in "Additional Details" of the Project/Task owning organization classification.
  C. Remove the asset definition options from the templates used by departments that arenot managing capital projects.
  D. Use the Project/Task owning organization hierarchy in the implementation options.
  E. Set up a separate organization hierarchy for the departments that are managing capital projects.
  B. Use the settings in "Additional Details" of the Project/Task owning organization classification.

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  Note: You must select Yes, even though you cannot create contract projects in Oracle Grants Accounting. Oracle Grants Accounting uses contract projects to process revenue and invoices for awards. Oracle Grants Accounting uses an

  underlying award project to process revenue and invoices.

  The award project is a contract class project.

• Question 3:

  The Profile option "PA: Cross Project User-Update" is set to "Yes" for a Projects module user. Which two statements apply?

  A. The use must be named as a Key Member on a project to be able to see Summary Labor Costs.
  B. The userwill be able to update projects across all Operating Units.
  C. The userwill be able to update only the projects belonging to the same Operating Unit to which theuser belongs.
  D. Theuserview SummaryLaborCosts forall projects.
  E. The user must alsohave Organization Authority forall Operating Units to updateall projects.
  B. The userwill be able to update projects across all Operating Units.
  E. The user must alsohave Organization Authority forall Operating Units to updateall projects.

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  PA: Cross Project User - Update: Enables users to update all project information. This applies only to the operating units the responsibility has access to through the MO: Operating Unit profile option or the MO: Security Profile profile option.

  Note: Users whose responsibilities are associated with a cross business group access security profile can view and update project and resource information across all business groups in your enterprise.

• Question 4:

  You have defined a Non-Labor resource "Mini Truck" with an expenditure type "Vehicle" that has a rate of $100. This resource is attached to three Non-Labor resource organizations: "Construction-East," "Construction-West," and "Construction-Central."

  How do you set up a rate of $150 for usage charges when the "Mini Truck" owned by "Construction- Central" is charged to a project?

  A. In the Project setup, enter a rate of $150 for"Construction-Central"in the organization overrides.
  B. In the Non-Labor resources setup, select the"Construction-Central"organization and enter a rate of $150.
  C. Create a new rate schedule with a rate of $150 for"Mini Truck"and attach it to the project.
  D. Create a new rate schedule with a rate of $150 for"Mini Truck"and attach it to"Construction- Central."
  E. Write custom code in Non-Labor cost override extension.
  D. Create a new rate schedule with a rate of $150 for"Mini Truck"and attach it to"Construction- Central."

• Question 5:

  Your company has two separate expenditure types to capture straight time and overtime labor transactions across all projects. When running cost distribution for labor transactions, the straight time labor must be charged to a labor expense account and overtime labor costs to an overhead expense account. How would you set up two different expense accounts?

  A. Set up the account at theExpendituretype definition.
  B. Define an AutoAccounting rule to derive account based on expenditure and attach it the AutoAccounting function "Labor Cost Account."
  C. Define an AutoAccounting rule to derive account based on expenditure and attach it the AutoAccounting function "Labor Cost Clearing Account."
  D. Set up the account at the Expenditure type usage definition.
  E. Set up the account at the Labor costing rule definition.
  B. Define an AutoAccounting rule to derive account based on expenditure and attach it the AutoAccounting function "Labor Cost Account."

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  Implement AutoAccounting to charge appropriate expense accounts

  When you implement AutoAccounting, you can charge straight time costs to a labor expense account and overtime costs to an overhead or overtime expense account. To charge straight time and overtime to different accounts, you define an AutoAccounting rule based on expenditure type, expenditure category, service type, compensation rule, or labor cost multiplier.

  Note: *Labor Cost Account Function When you run the PRC: Distribute Labor Costs process, Oracle Projects calculates labor cost amounts based upon employee labor cost rates and compensation rules. After calculating labor costs, Oracle Projects uses the Labor Cost Account transactions to debit an expense account for raw labor costs. *You need to define at least one overtime expenditure type. You use the Expenditure Types window to define overtime expenditure types classified by the Overtime expenditure type class.

• Question 6:

  A new contract project is created for work for a customer by using event-based billing. A decision has been made to give a discount to the customer on a particular invoice. You want to apply this discount and reduce the invoice without

  affecting revenue.

  Which event type should be used to achieve this?

  A. Manual
  B. Invoice Reduction
  C. Deferred Revenue
  D. Automatic
  E. ScheduledPayment
  D. Automatic

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  Event Type Classification is: Scheduled Payment, Deferred Revenue, Invoice Reduction, Manual, or Automatic (for billing events only)

• Question 7:

  An organization has agreed to bill rates based on a person's job, which are updated annually. The rates are recorded on a default bill rate schedule that is attached to each project. An employee has and HR assignment job of Consultant. However, the employee is temporarily working on a project as a Project Manager. What is the correct way to ensure that the employee's time is billed correctly?

  A. Amend the employee's HR assignment to Project Manager.
  B. Add the employee as a separate line to the defaultbill rate schedule.
  C. Use the transaction controlfunctionalityat the project level.
  D. Use the assignment override at the project level.
  E. Use the employee bill rate override at the project level.
  D. Use the assignment override at the project level.

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  Job Assignment Overrides You can override both an employee's job assignment and an employee's billing title for this project or lowest level task. When you override an employee's job assignment, the new job assignment determines bill rates for the employee's billing on this project or lowest task (if this task uses job bill rates). You can choose any active job in the Oracle Applications database.

  When you override an employee's primary billing title, the new billing title appears on future invoices for this employee's billing (if this project's labor invoice format displays an employee billing title). Any job assignment override you enter for this project or lowest task takes precedence over any project job assignment override.

• Question 8:

  An organization posts project costs to the balance sheet as they are incurred. Each month they recognize project revenue on each project.

  Select the option that ensures that costs are credited from the balance sheet and debited to profit and loss as revenue is recognized.

  A. Use events for project revenue and use GL journals to carry outthe relevant account postings.
  B. Implement a projectrevenue extensionwithappropriate event types and AutoAccountingdefinition.
  C. Usemiscellaneoustransactions to generate revenue with the appropriate AutoAccountingdefinition.
  D. Use preapproved batches with a class type of "Work in Process" to generate revenue withthe appropriate AutoAccounting definition.
  B. Implement a projectrevenue extensionwithappropriate event types and AutoAccountingdefinition.

• Question 9:

  A customer has provided a purchase order for $100k. The customer issues an additional $20k to the original purchase order. How would you invoice the total amount of $120k on only one invoice as per the terms of the contract?

  A. Create a separateagreement and funding for $20k.
  B. Update the existing agreement value to $120k and add an additionalfunding line against the project for $20k.
  C. Update the cost budget to $l20k.
  D. Createa manual invoice in Accounts Receivable for the additional value.
  E. Update any existing transactionsto allow billing to the new amount.
  A. Create a separateagreement and funding for $20k.

• Question 10:

  Your client has expressed a desire to produce and summarize invoice lines for Non-Labor transactions by type of expenditure based on high level tasks of the project. Which invoice formal grouping should he used to achieve this?

  A. TopTask,ExpenditureType
  B. TopTask,Employee
  C. Revenue Category,Expenditure Category, Top Task
  D. TopTask,Expenditure Category
  E. TopTask, Revenue Category, Expenditure Category,Expenditure Type
  A. TopTask,ExpenditureType

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  Note: *Oracle Projects processes tasks based on their position in the structure. The three distinct positions are: Top Task: A task whose parent is the project Mid Task: A task that is not a top task or a lowest task Lowest Task: A task that is at the bottom of the structure, without any child tasks

  *You can configure transaction controls by the following: Expenditure Category Employee Expenditure Type Non-Labor Resource