Oracle
1Z0-1058-23
Oracle Risk Management Cloud 2023 Implementation
Professional
QUESTION & ANSWERS
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QUESTION 1
You are gathering requirements on how your client performs control assessments. Which three tasks
should you complete to set up assessments in Financial Reporting Compliance? (Choose three.)
A.
B.
C.
D.
E.
Identify the type of assessments included in each assessment cycle.
Understand the sample size for each audit test.
Determine if control assessments are planned ahead of time or are run impromptu.
Determine the main objectives of deploying the control.
Determine whether assessments templates, plans, and completed assessments need to go
through a review and approve workflow
Correct Answer: B,C,E
QUESTION 2
You want to identify Controls with the most Incidents, with the condition that the identified Controls
should
have 80% of all Incidents. To do this, you have imported a custom object that contains the number of
incidents
associated with each control, and have added that object to a transaction model.
Which pattern filter must you now apply?
A.
B.
C.
D.
E.
Anomaly Detection
Mean
Pareto
Absolute Deviation
Clustering
Correct Answer: C
QUESTION 3
Select three fields that are required to create an impromptu assessment. (Choose three.)
A.
B.
C.
D.
E.
F.
Due Date
Template
Name
Reviewer
Perspectives
Activity
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Correct Answer: A,B,C
QUESTION 4
Your client has subscribed to Financial Reporting Compliance and would like to address risks using
treatment
plans.
Which option shows the settings that will help in achieving this configuration?
A. Configure Module Perspectives > Edit Financial Reporting Compliance > Risk-Organization
mapping set to required, active.
B. Configure Module Objects > Edit Risk Object Configuration > Treatment = Show
C. Configure Module Objects > Edit Risk Object Configuration > Treatment = Hide and Default
D. Configure Module Objects > Edit Control Object Configuration > Result = Show
E. Configure Module Objects > Edit Risk Object Configuration > Result = Show
Correct Answer: D
QUESTION 5
You have two segregation of duties requirements:
1) a user can access either the supplier creation pages or the invoice pages, but not both.
2) a user can access either the invoice creation pages or the payment creation pages, but not both.
How must these requirements be met in Advanced Access Controls?
A. Construct one model with three condition filters where the Function Name Equals “Create
Supplier”, “Create Invoice” and “Create Payment”
B. Construct two models, and create controls based on the models: “Create Supplier & Create
Invoice”, “Create Invoice & Create Payment”
C. Construct three controls, and create controls based on the models: “Create Supplier & Create
Invoice”, “Create Invoice & Create Payment”, “Create Supplier & Create Payment”
D. Construct one model: “Create Supplier & Create Invoice & Create Payment”
E. Construct one entitlement: “Create Supplier & Create Invoice & Create Payment”
Correct Answer: D
QUESTION 6
Which two should you determine to ensure that your client can successfully maintain and administer
Perspectives post go-live? (Choose two.)
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A. Identify if your client wants to review and/or approve new perspectives or changes made to
existing perspectives.
B. Identify lookup values that need to be created for Control, Risk, and Issue Type fields.
C. Identify users who will be responsible for creating and maintaining perspectives, both for security
as well as reporting
D. Identify users who will be responsible for creating and maintaining controls and/or risks.
Correct Answer: A,B
QUESTION 7
Identify the four statuses and states in which you can edit an issue’s description, assuming you have
the necessary privileges to edit the issue. (Choose four.)
A.
B.
C.
D.
E.
F.
G.
H.
Status: On Hold; State: In Review
Status: Closed; State: Final Close
Status: Open; State: Approved
Status: Closed; State: Closed – Awaiting Approval
Status: Open; State: In Edit
Status: On Hold; State: Awaiting Approval
Status: Open; State: New
Status: On-Hold; State: Reported
Correct Answer: A,C,E,G
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