Oracle Others Oracle Certifications 1Z0-958 Questions & Answers

• Question 1:

  Which three objects can be related to issues when creating an issue on the Manage Issues page? (Choose three.)

  A. Test Plans

  B. Assessments

  C. Processes

  D. Perspectives

  E. Risks

  F. Controls

  Correct Answer: CEF

  Reference: https://docs.oracle.com/en/cloud/saas/risk-management/18c/fafrc/resolvingissues.html#FAFRC1545728

• Question 2:

  The control manager needs to associate an existing test plan to an additional assessment type, Audit Test.

  The existing test plan is associated only with the Design Review assessment type.

  How can this be accomplished?

  A. The control manager should create a new test plan with Audit Test and Design Review as assessment types.

  B. The control's test plan should be updated to include both Audit Test and Design Review as assessment types.

  C. The control manager does not need to update the control because any initiated assessment will include all control test plans.

  D. The control's test plan should be updated to Audit Test as the assessment type.

  Correct Answer: B

• Question 3:

  You have scheduled quarterly assessments for a Control object at the beginning of the year with future dates. However, the test plans associated with the Control object were updated before the assessment could be started. Which statement is true about this scenario?

  A. The user will have the option to select the older or newer versions of the test plans during the assessment process.

  B. The scheduled assessment process will end in error.

  C. The assessment will be associated with the version of the test plans from the time of assessment initiation.

  D. The updated test plans will become available during the assessment.

  Correct Answer: C

• Question 4:

  The GRC Business owner responsible for reviewing and investigating access incidents related to the "Order to Cash" perspective does not see any worklists for the generated results. You have validated that:

  1.

  Other business owners are able to view their assigned worklists without any problem

  2.

  Incidents have been generated for the controls related to Order to Cash

  3.

  The business owner's assigned roles contain the correct functional privileges and data access to the correct perspective values

  What is the reason the business owner cannot see any worklists for the generated incidents?

  A. The Result Management Perspective Assignment has not been linked.

  B. The underlying model is not linked to Order to Cash.

  C. The business owner was recently assigned the role and the worklist needs to be refreshed.

  D. Worklist assignment does not include the business owner.

  E. The Control Perspectives are not linked to the control.

  Correct Answer: D

• Question 5:

  A user has created and submitted a new control and the state of the control is "In Review." The user expected that the control state would change to "Approved." Why is the control not in the "Approved" state?

  A. This user is not a Control Approver; therefore, the status will be "In Review."

  B. The Control Reviewer role has been assigned to some users.

  C. New controls must always be reviewed, irrespective of security configuration.

  D. The Control Approver role has been assigned to some users.

  Correct Answer: A

• Question 6:

  Which two activities can be performed using Financial Reporting Compliance? (Choose two.)

  A. Review and approve the accuracy and completeness of control descriptions.

  B. Gain real-time access to live financial data and proactively resolve issues.

  C. Continuously monitor financial transactions and role-based remediation of transaction incidents.

  D. Review control assessment results, along with any effectiveness issues found.

  E. Provide self-service access to reporting and analysis against financial transactions.

  F. Conduct intuitive audits of general ledger balances with journal details.

  Correct Answer: AC

  Reference: https://www.oracle.com/a/ocom/docs/applications/erp/oracle-advanced-financial-controlscloud-service-ds.pdf

• Question 7:

  Which part of the security structure cannot be created or viewed from the Security Console, when configuring security for Financial Reporting Compliance?

  A. Composite Duty Role

  B. Job Role Perspective Policy

  C. Data Security Policy

  D. Functional Security Policy

  Correct Answer: B

  Reference: https://docs.oracle.com/en/cloud/saas/risk-management/19b/fasor/functionalsecurity.html#FASOR1885872

• Question 8:

  You completed the data migration successfully. You created 100 controls, an Organization Perspective,

  and relationship of controls to the Organization Perspective. All controls are related to one perspective

  item. The Control Manager logs in to the application to view the new controls, yet there are none available

  for his or her review.

  Identify three reasons for this. (Choose three.)

  A. The Control Manager was not given the correct data security policy to access the controls.

  B. The Perspective Hierarchy was not associated to the Control Object.

  C. There was no Control Type associated with the controls.

  D. The Perspective Hierarchy is not in the Approved state.

  E. No risks were mapped to the imported controls.

  Correct Answer: ACE

• Question 9:

  Your client needs to perform Design Review and Certification assessment for all their controls. Identify two options that show how this requirement can be met. (Choose two.)

  

  A. B. C. D. E.

  Correct Answer: AD

• Question 10:

  How do you associate a risk to a control?

  A. On the Related Controls tab of risk definition, add the control.

  B. To associate a control to a risk, the control needs to be in the Review state.

  C. In the related object section of process definition, add the control to the risk.

  D. On the Related Objects tab of control definition, add the risk.

  E. The only way to create risk-control associations is through data import.

  Correct Answer: A