Pass Oracle 1Z0-1058-21 Exam Quickly With PassLeaderVCE [Q39-Q61]

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Pass Oracle 1Z0-1058-21 Exam Quickly With PassLeaderVCE

Prepare 1Z0-1058-21 Question Answers – 1Z0-1058-21 Exam Dumps

NO.39 Which three are true about implementing a best practice solution for Financial Reporting Compliance?
(Choose three.)

Large scope of project requires high effort for maintenance and administration.

It promotes rapid implementation and go-live.

It promotes go-live with minimal acceptance testing and user training.

It provides maximum return on investment withminimum project risk.

It promotes successful adoption and minimizes on-going cost of operation.

NO.40 Identify the fourstatuses and states in which you can edit an issue’s description, assuming you have the necessary privileges to edit the issue. (Choose four.)

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

NO.41 You have defined an initial Perspective Hierarchy for your client in the Advanced Controls module. After refining their business requirements, your client wants to expand the existing hierarchy to include 150 perspective items in various levels. For efficient processing, you decide to use the GRC data migration feature to import the new items.
Which three are valid processing steps required to define the export file? (Choose three.)

Navigate to Risk Management Tools > Setup and Administration > Data Migration, and select Advanced Controls.

Generate Template as Without Data.

Navigate to Manage Module Perspectives.

Generate Template as Without Data – Perspectives Only.

Clickthe Create Import Template button.

NO.42 You areimplementing Advanced Access Controls and there is a requirement for a control to monitor user access to specific, client-defined access points which give users the ability to both initiate a purchase order and approve payments on that purchase order.
Which is a valid option to implement the control?

Select Actions > Create Access Control from the “Controls” tab of Advanced Controls.

Create an access model from the “Models” tab of Advanced Controls, and then define an access point filter for each individual client-defined access point.

From the “Access Entitlements” page create two entitlements containing the respective client-defined access points. Create an access model from the “Models” tab of Advanced Controls, based on the entitlements you created. Finally, deploy an accesscontrol in the “Controls” tab of Advanced Controls, and select the access model you created.

Create an access entitlement from the “Access Entitlements” page, then select Actions > Create Access Control from the “Controls” tab of Advanced Controls, andselect the entitlement you created.

NO.43 An assessor is trying to complete an operational assessment on a control for manual AP Invoice entry and is reviewing Prior Results.
Which statement is true about viewing Prior Results for this control?

He or she will be able to review results of all prior assessments of all types for this control.

He or she will be able to review results of all prior Audit tests and operational assessments for this control.

He or she will be able to review only results of prior operational assessments for this control.

He or she will be able to review results of all prior operational assessments for all controls.

He or she will be able to review results of all prior assessments of all types for all controls.

NO.44 Your client has three operating units.
What are two ways in which you can exclude an operating unit where there are not enough personnel to allow segregation of duties? (Choose two.)

In a model, create a new condition logic filter, select the operating unit attribute, select the operating unit value, and then perform an exclusion though the advanced options check box.

Navigate to the Create Access Global Condition page and create a new condition logic filter, select the operating unit attribute, select the operating unit value, and then perform an exclusion though the advanced options check box.

Navigate to the Create Access Global Condition page and createa new condition logic filter, select the within same operating unit attribute, select the value yes, and then perform your exclusion though the advanced options check box.

In a model, create a new condition logic filter, select the within sameoperating unit attribute, select the value yes, and then perform your exclusion though the advanced options check box.

In a model, create a new condition logic filter, select the operating unit attribute and select the operating unit value.

NO.45 You are working with the customer to gather Risk-Control data for the data import process. The customer has information in multiple formats. Which format should be used for importing the data?

.xlsx

.doc

.pdf

.xml

.txt

NO.46 You need to schedule the report “Access Violations by User.” Which two steps do you take to create thesaved parameters for the report schedule? (Choose two.)

Navigate to Administration Reports.

Highlight the report name and click Run Now.

Navigate to Scheduling under Setup and Administration.

Click Save Report Parameters to create savedsettings.

Select Display Scheduled Reports.

NO.47 When you view or edit a transaction incident, you may see extra columns that are not present inthe business objects used in the control.
What three kinds of control logic or conditions can cause this? (Choose three.)

Equals (when the same attribute is used on both sides of the condition)

Not in

Similar

Average Function

Between (whenusing a date attribute)

NO.48 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.)

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.

NO.49 When validating imported data, the control manager at your client has identified anincorrect Risk-Control mapping; that is, Control A was mapped incorrectly to Risk B instead of Risk A.
What needs to be done to fix the mapping?

Option A

Option B

Option C

Option D

NO.50 You are implementing Advanced Access Controls for a client who wants to limit the seeded job role
“Application Access Auditor”. This job role should NOT include system configuration duties, but allows the user to monitor jobs schedules forAdvanced Controls.
After the seeded job role is copied, that two duty roles should be removed to comply with the access restrictions? (Choose two.)

Access Control Manager

Advanced Control System Administrator

Access incident Results Manager

Application Data Source Manager

Access Model Manager

NO.51 Your customer has a requirement to define an IT Compliance Manager job role with privileges to manage risks and controls, and the issues related to the risks and controls.
What are the duty roles that must be included in this job role to achieve this requirement?

Seeded Issue Manager Composite and Issue Validator Composite

Seeded Risk Issue Manager and Control Issue Manager

Seeded Issue Manager Composite

Seeded Risk Manager Composite, Control Manager Composite, and Issue Manager Composite

NO.52 Yourclient has asked you to define a transaction model to identify duplicate invoices based on Invoice Numbers and Invoice Amounts.
Which two standard filters can be combined to accomplish this? (Choose two.)

The “Payables Invoice” object’s “Supplier ID”does not equal itself.

The “Payables Invoice” object’s “Invoice ID” is similar to the “Payables Invoice” object’s “Invoice Number”.

The “Payables Invoice” object’s “Invoice Amount” is equal to itself.

The “Payables Invoice” object’s “Invoice Number” is equal to the “Payables Invoice” object’s “Invoice ID.”

The “Payables Invoice” object’s “Invoice Number” is equal to itself.

NO.53 During implementation, you created a Financial Reporting Compliance superuser and assigned this user the following roles:
* Enterprise Risk and Control Manager
* IT SecurityManager
* Employee
The superuser logs in to Financial Reporting Compliance but is not able to create new Data Security Policies.
What is wrong?

The superuser’s account is inactive and his or her account needs to be activated.

The application will notallow a user to both create users and assign them roles.

The superuser’s account is created but the synchronization jobs have not been run.

The superuser’s account is not yet approved by his or her supervisor in Financial Reporting Compliance.

NO.54 What would happen to an access incident in Advanced Access Controls (AAC) that has been remediated and has a status of “Closed,” but poses a conflict again during a subsequent evaluation of controls?

The incident is deferred.

The incident remains in “Closed” status and additional remedial action cannot be taken.

The incident remains in “Closed” status and assigned users receive a notification that additional accessincidents have been identified.

The incident is copied and a new incident is created based on the original incident.

The incident status changes to “Assigned.”

NO.55 You are validating your customer’s import template before import. The customer requires that all controls be set up so they are noted to be used for the Audit Test assessment type. How do you verify that this has been done?

The Assessment Flag and the Audit Testing Flag are both set to “Y.”

The Control has a related process.

The Control status filed is set to “Audit Test.”

The Control comment filed has a notation for “Audit Test.”

NO.56 An organization has a list of companies with which they no longer wish to do business. The list is not stored in their ERP Could but is stored in a file.
Whichtransaction model will identify payments made to these companies?

Create an Imported business object that can be used in conjunction with Oracle’s pre-built “Payment” object. One both objects are in your model, add this standard filter: the “Payment” object’s “Remit to Supplier Name” is similar to the custom object’s “Company Name” by 95%.

Add a configurable attribute “Company Name” to Oracle’s pre-built “Payment” object. Then add this standard filter: “Remit to Supplier Name” equals “Company Name”.

You cannot define this model because imported objects from a file cannot be used with delivered objects.

Create an Imported business object that can be used in conjunction with Oracle’s pre-built “Payables Invoice” object. Once both objects are in your model, add this standard filter: the “Payables Invoice” object’s “Supplier Name” equals the custom object’s “Company Name”.

NO.57 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?

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

The scheduled assessment process will end in error.

The assessment will be associated with the version of the testplans from the time of assessment initiation.

The updated test plans will become available during the assessment.

NO.58 You have completed the data import process with no errors. You created process, risks, controls, and one perspective. Controls were related to perspectives. You have provided the customer with the Control Manager security role. When the customer logs in to Financials Risk Compliance (FRC), the customer cannot see any controls.
Which step was missed during the import process?

Data security policies for Controls were not created.

The Controls were not related to any risk objects.

The parent process was never approved.

The Control Method was not set to a valid value.

NO.59 Which three tasks should be completed before starting the Financial Reporting Compliance implementation?
(Choose three.)

Migrate the organization’s existing risk and control matrixinto Financial Reporting Compliance.

Complete control review and assessment for one period/cycle with the actual business owners.

Create a project plan with objectives, goals, and exit criteria.

Identify Financial Reporting Compliance users for everyday use, administration, and sustained use.

Plan to go-live with a simple scope and later expand the solution to include additional business units/organizations/compliance frameworks.

NO.60 Which three riskassessment activity types are available in Financial Reporting Compliance? (Choose three.)

Design Review