Oracle 1Z0-511 Online Practice Questions and Exam Preparation

Oracle 1Z0-511 Online Questions & Answers

• Question 61:

  Which project class type can include revenue budgets?

  A. Capital
  B. Indirect
  C. Contract
  D. Capital and Indirect
  E. Capital and Contract
  C. Contract

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  Note:

  *Allow Revenue Budget Entry. Indicates if you allow entry of revenue budget types. You may choose to not allow entry of revenue budgets for indirect or capital projects. You must enter a revenue budget for a contract project before it can

  accrue revenue and be billed.

• Question 62:

  A project is enabled for Burdening by setting up a burden schedule at the project type level. A Miscellaneous expenditure Item Is charged to the project with a raw cost of $100 and expenditure type "Overhead." The "Overheads" expenditure type is excluded from all cost bases in the burden structure.

  What happens when the "PRC: Distribute usage and Miscellaneous Costs" program is run for this project?

  A. The program errorswith the message "Missing Expenditure type."
  B. The program completes successfully; Raw Cost = $100, Burden Cost=$0,TotalBurdened cost=$100.
  C. Theprogram completes successfully; Raw Cost=$100, Burden Cost= $100,TotalBurdened cost=$100.
  D. Theprogram completes successfully; Raw Cost =$100, Burden Cost=$0, Total Burdened cost= $0.
  C. Theprogram completes successfully; Raw Cost=$100, Burden Cost= $100,TotalBurdened cost=$100.

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  Note:

  *Distribute Usage and Miscellaneous Costs

  The process computes the costs and determines the default GL account to which to post the cost for expenditure items with the following expenditure type classes:

  Usages

  Burden Transactions

  Miscellaneous Transactions

  Inventory and WIP transactions not already costed or accounted

• Question 63:

  Which two options are not task attributes for financial task structure?

  A. Task Type
  B. Service Type
  C. Work Type
  D. Chargeable Flag
  E. Scheduled Dates
  B. Service Type
  D. Chargeable Flag

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  Incorrect:

  Not A:Task types assign default attributes to tasks and control how Oracle Projects processes tasks.

  Task types specify basic task attributes.

  Not C:Work types represent a classification of work. You use work types to classify both actual and scheduled work. Not E:Oracle Projects uses start and finish dates to control processing, indicate estimated and scheduled duration, and

  serve as tools to evaluate project performance.

  The start and finish dates at the project level are:

  Actual: Actual dates when work on the project started and finished. You can use these dates to drive future timecard and earned value functionality.

  (not E)Scheduled: Scheduled start and finish dates for the project.

  Target: The expected lifespan of the project.

  Estimated: A task manager's estimate of when work on the project will be started and finished.

  Baseline: The baselined schedule

• Question 64:

  Your organization has configured employee rate schedules. Which three schedules can utilize employee rate schedules when delivering a project?

  A. Job rate schedules
  B. Planning schedules
  C. Cost rate schedules
  D. Bill rate schedules
  E. Resource class rate schedules
  B. Planning schedules
  C. Cost rate schedules
  D. Bill rate schedules

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  You can use rates to calculate amounts for costing, billing, and workplan and financial planning. Oracle Projects determines rates from a combination of rate schedules and rate overrides. You can define the following four types of rate

  schedules in Oracle Projects:

  *Employee: Use this type of rate schedule to define standard hourly rates or percentage markups by employee. You can use employee rate schedules as planning schedules(B), cost rate schedules(C), and bill rate schedules(D).

  *

  Job: Use this type of rate schedule to define standard hourly rates by job title. When you enter a job- based rate schedule, you enter a job group to indicate which jobs are used to determine rates. You can use job schedules as planning rate schedules, cost rate schedules, and bill rate schedules.

  *

  Resource Class : Use this type of rate schedule to define planning rates by resource class, or as a combination of resource class and organization. *Nonlabor: Use this type of rate schedule to define rates or percentage markups by nonlabor expenditure type or a combination of nonlabor expenditure type and nonlabor resource. You can use nonlabor rate schedules as planning rate schedules, cost rate schedules, and bill rate schedules.

• Question 65:

  A project has been mistakenly set up as a capital project, instead of a contract project. The project has already incurred expenditure. How can this be remedied?

  A. Change the project type to Contract
  B. Leave the project as capital and accruefor revenueasis.
  C. Move all the costs toan contract task within the capital project.
  D. A new project should be set up and costs transferred.
  E. Delete all the expenditure Items and change the project type.
  D. A new project should be set up and costs transferred.

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  Note: *Project Type

  The project type determines how Oracle Projects processes costs (expenditure items) for a project. The type you choose provides many defaults and controls for project entry and processing. You must choose a type from one of the following project type classes:

  /Use an Indirect project type to collect and track expenditure item costs and labor hours for overhead activities, such as administrative and overhead work, marketing, and bid and proposal preparation. You can also define indirect projects to track time off including sick leave, vacation, and holidays

  /Use a Capital project type to collect and track costs and labor hours for asset development activities which you plan to capitalize as one or more assets.

  /Use a Contract project type to collect and track costs, labor hours, revenue, and billing for services performed for and reimbursed by a client

• Question 66:

  A contractor is engaged to carry out a statement of work by a customer. The contract is fixed price, and milestone payments will be made based on the individual completion of agreed deliverables. The contract specifies that 10% of any invoice totals must be withheld. The exception to this rule is that if certain deliverables are met ahead of the agreed schedule, then the full amount can be invoiced. How would this scenario be set up in Oracle Projects?

  A. CustomerRetention Billing is implemented with a Withholding Term ofExpenditure Category.
  B. 10% ofproject costs isset with abilling hold (as required) inExpenditureInquiry.
  C. A taskis used to collectcosts that are to be withholdingand the task is set to non-billable asrequired.
  D. CustomerRetention Billing isimplemented with aWithholding Term based onEvent Types.
  E. A customerbill splitisimplemented to send 10% ofall invoiced costs to a dummy customer.
  A. CustomerRetention Billing is implemented with a Withholding Term ofExpenditure Category.

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  *Defining Retention Terms

  Retention Terms determine how amounts are withheld from project invoices and how the withheld amounts are billed to the project customer. Retention terms include:

  Withholding Terms

  Withholding Terms by Expenditure Category

  Withholding Terms by Event Revenue Category

  Billing Terms

  *Witholding Terms

  These terms apply to all sources of project invoice amounts for the specified project or top task. For each term, you can define a withholding percentage or amount. Optionally, a threshold amount can be defined to determine the maximum

  amount to be withheld per term.

• Question 67:

  A one-time additional public holiday has been announced for this year. You update the PA Calendar, which is used for Resourcing with this exception. Select the two options required to ensure that this change is reflected in the existing assignment on resource calendars.

  A. Run"PRC: Generate CalendarSchedules."
  B. Run "PRC: Rebuild Resource Timeline."
  C. Inform Resource Managers that they will have to redo all the existing planning.
  D. Run "PRC: AutomatedCandidate Search."
  E. Run "PRC:Refresh project summary amounts."
  A. Run"PRC: Generate CalendarSchedules."
  B. Run "PRC: Rebuild Resource Timeline."

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  Changes to these calendars impact the schedules of the person resources, requirements, and assignments differently. Oracle Project Resource Management provides the following administrative processes to help manage these changes and to maintain consistent schedule information throughout the application: PRC: Generate Calendar Schedule for a Single Calendar

  PRC: Generate Calendar Schedules for a Range of Calendars PRC: Rebuild Timeline for a Single Resource

  PRC: Rebuild Timeline for a Range of Resources

• Question 68:

  Which statement is true about the use of the calendar assigned to a project?

  A. It is thedefault calendar assigned to resource requirements for the project.
  B. It isthedefault calendar for the automatic generation of cost forecasts in Financial Plans.
  C. It is the default calendar used for determining accounting periods.
  D. It is used in the determination of currency exchange rates.
  E. It is used by date-dependent system workflows.
  C. It is the default calendar used for determining accounting periods.

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  When you implement Oracle Projects, you can select the calendar used to maintain PA periods.

  PA Period Type

  Specify a Period Type, which is used to copy Project Accounting Periods from the calendar associated with the ledger. If you copy PA Periods from GL, Oracle Projects copies all of the periods of this Period Type to set up the PA Periods.

  In a multiple organization environment, the PA Period Type is specified for each operating unit.

• Question 69:

  A company has different organization requirements for HR, Payroll, Finance, and Projects. How can the company achieve this?

  A. Byconfiguring a shared organization hierarchy
  B. By configuring separate organization hierarchies for each application
  C. By configuring a shared organization hierarchy forProjects and Payroll
  D. By configuringashared organization hierarchy for Finance and Payroll
  C. By configuring a shared organization hierarchy forProjects and Payroll

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  Note:

  *Organization hierarchies provide a structure for the relationships between the organizations within your enterprise. They enable you to manage expenditure and reporting data and coordinate project- owning organizations. If your organization

  uses business groups, you can create project burdening organization hierarchies for each business group.

  You define an organization hierarchy by telling Oracle Projects which organizations are subordinate to which other organizations. You can define one organization hierarchy or several, depending on the needs of your enterprise.

  *The organizations and organization hierarchies of an enterprise are closely interrelated with the policies and procedures of that enterprise. To configure Oracle Projects to meet your business requirements, you must make critical

  implementation decisions regarding how you set up your organizations in Oracle Projects.

  Organizations are departments, sections, divisions, companies, or other organizational units in your enterprise. You can gather collections of organizations into organization hierarchies. Organization hierarchies make it easier to manage

  expenditure and reporting data and coordinate the project-owning organizations within your enterprise.

• Question 70:

  A project is undertaken for a customer where all labor costs are non-billable, and Non-Labor costs are billable if the accumulated costs incurred are greater than $10k. How can Oracle Projects be implemented to support this?

  A. Use transaction controls to restrict billing to Non-Labor elements and to calculate the bill amounts on Non-Labor.
  B. Use transaction controls tobilling Non-Labor elements, capture the value on the project, and then use the Non-Labor billing extension to calculate when an activity is billable.
  C. Create an agreement and funding for $10k only, and fund only those tasks on a project where you estimate to incur costs of $10k or more.
  D. Use the cost-to-cost billing extension to build billing rules to meet the requirement.
  E. Use the cost accrual extension.
  B. Use transaction controls tobilling Non-Labor elements, capture the value on the project, and then use the Non-Labor billing extension to calculate when an activity is billable.