The Secret Of Oracle 1z0-1057 Practice Exam

NEW QUESTION 1
You create a contract with two contract lines: Line 1 and Line 2. You create separate bill plans: A for contract Line 1 and B contract for Line 2, with a different bill set number (11 for Bill Plan A and 22 for Bill Plan B).
Then Bill Plan A is allocated against Project X – Task 10, and Bill Plan B is allocated against Project Y – Task 30.
Based on the preceding setup, you are generating invoices. Identify two correct statements about invoice generation in this scenario. (Choose two.)

• A. Both the contract lines create only a single invoice because they are using the same contract.
• B. Two invoices are created using the same contract.
• C. Bill set number drives the grouping of transactions.
• D. Invoice generation does not depend on bill pla
• E. The invoices are created based on the contract line.

Answer: BC

Explanation:
Ref: https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJB/F1087456AN1006D.htm
What's a bill set?
Transactions originating from different bill plans with the same bill set number on a contract are included on the same invoice. If a contract has multiple bill plans and each have different values for the bill set, Oracle Fusion Project Billing creates a separate invoice for each bill plan

NEW QUESTION 2
Your customer has separate organizations to maintain indirect, capital, and billing types of projects. Identify the two setups that can be used to fulfill this requirement. (Choose two.)

• A. Project Type
• B. Business Unit
• C. Project Organization Classification
• D. Organization Tree
• E. Project Accounting Business Function

Answer: CD

Explanation:
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/FAPFM/FAPFM1225328.htm

NEW QUESTION 3
Which three features are part of Oracle Fusion Functional Setup Manager?

• A. feature opt-in for a best fit configuration
• B. export and import services for setup data migration between environments
• C. guided task list for end-to-end setup requirements
• D. updating an implementation project task list by changing the opt-in configuration to suit the latest requirements
• E. modifying an existing implementation project task list by selecting more functional areas when needed

Answer: ABC

Explanation:
https://docs.oracle.com/en/cloud/saas/applications-common/r13-update17d/oafsm/applications-cloud-using-func Functional Setup Manager offers the following:
• Standardized application configuration and setup experience
• Feature opt-in for a best fit configuration
• Flexible processes for managing setup:
Setup by functional areas for an adopt-as-you-go approach Implementation projects to manage setup
Upload file to enter setup data in bulk
• Guided task list for end-to-end setup requirements
• Export and import services for setup data migration between environments
• Comprehensive reporting on setup data

NEW QUESTION 4
Which three are part of using the Rapid Implementation for Project Financial Management Applications macro-enabled Microsoft Excel spreadsheet to enter setup data?

• A. Prepare setup data.
• B. Import Projects.
• C. Generate CSV files.
• D. Upload setup data.
• E. File Import and Export.

Answer: ACD

Explanation:
https://docs.oracle.com/applications/farel12/projectop_gs/OAPFM/OAPFM2264569.htm#OAPFM2159921 Configuring Rapid Implementation: Procedure
Project application administrators can use the rapid implementation feature to set up the Project Financial Management offering. Use the Rapid Implementation for Project Financial Management Applications macro-enabled Microsoft Excel spreadsheet to enter setup data and generate the ProjectsWorkbook.zip. Upload this .zip file to the Setup and Maintenance work area. When the upload completes, the offering is configured based on the setup information that you provide.
Perform the following steps to configure rapid implementation for the Project Financial Management offering:
Prepare setup data.
Generate CSV files.
Upload setup data.
Correct errors, if any, and reload the data.

NEW QUESTION 5
Which three setups can be configured by using Rapid Implementation for Project Financial Management Applications?

• A. Departments
• B. Expenditure Types
• C. Project Templates
• D. Project Types

Answer: ABD

NEW QUESTION 6
You have a small project for a period of five months. Your budget amount for each month is spread evenly and is $1000 per month. The first month actual expense is $800 and there is a commitment for $600. Now you generate a forecast at the beginning of the second month. Identify the monthly Estimate-To-Complete (ETC) amount that the application would calculate for the remaining four periods, when the ETC generation method includes commitments. (Choose the best answer.)

• A. 1000B.-900C.800D.600

Answer: B

Explanation:
Budget 5,000Actuals 800Commitment 600 ETC = Budget – Actuals – Commitment
ETC = 5,000-800-600 = 3,600 Budget available for next 4 months = 3,600/4 = 900/month

NEW QUESTION 7
What are three configuration items that you need to set up by using the Project Organizations functional area in Project Financial Management configurations? (Choose three.)

• A. Manage Project Unit Organizations
• B. Mange Business Unit
• C. Manage Project Organization Classifications
• D. Mange Project Types
• E. Manage Project Unit Options

Answer: ACE

Explanation:
Reference
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/define-project-organizations.htm

NEW QUESTION 8
You are now the project manager of a newly created implementation project. Which two items are not part of managing an implementation project?

• A. Assign tasks to various users who are responsible for managing setup data.
• B. Monitor the progress of completing setup tasks.
• C. Select the offering you want to implement.
• D. Generate a list of setup tasks.
• E. Enable optional functional areas and features by opting in.

Answer: AD

NEW QUESTION 9
You have closed the project accounting period with a warning, but you are unable to close the accounting period due to an error.
Identify two reasons for this problem. (Choose two.)

• A. The corresponding Oracle Payables Cloud accounting period has not been closed.
• B. Transactions entered in an integrated Oracle Cloud Application are accounted, but not yet transferred and imported into Oracle Project Portfolio Management Cloud.
• C. Pending burden summarization items have not been processed.
• D. Unaccounted transactions are not imported.
• E. Unaccounted transactions have not been swept to the next period.

Answer: BE

Explanation:
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapjb/record-accounting-for-project-bil

NEW QUESTION 10
You want to export your project plan to Oracle Project Financial Management Cloud after initial scheduling is complete in Microsoft Projects. Identify three conditions that must be met for exporting milestone tasks. ( Choose three.)

• A. only one labor resource assignment with 100 effort
• B. lowest-level tasks set up with non-zero duration
• C. lowest-level tasks set up with zero duration
• D. only one labor resource assignment with 0 effort
• E. percent work complete values of 0 or 100 percent

Answer: CDE

Explanation:
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapex/define-project-management-conf

NEW QUESTION 11
As part of maintaining (importing new employees that were added last week) project enterprise labor resources in your organization, you submit the Maintain Project Enterprise Labor Resources process to create and update resources based on changes In HCM. You define maintenance conditions on the Manage Project Enterprise Labor Resource page to process both employees and contingent workers.
Which three are parameters that are based on which the system identifies the new resources?

• A. Department
• B. Project Unit
• C. Jobs
• D. Business Unit
• E. Organization

Answer: CDE

Explanation:
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/fapfm/implementing-project-execution

NEW QUESTION 12
When implementing Project Performance Reporting, your customer has the following requirements:
Every time a project cost is greater than or equal to a threshold, then the project should be shown as critical.
As long as a project cost is less than the threshold, the project should be shown as on-track.
Which threshold level rule is ideal for this kind of KPI definition? (Choose the best answer.)

• A. multiple threshold levels
• B. single threshold level value
• C. single threshold level range
• D. multiple threshold level value

Answer: B

Explanation:
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjs/update-project-performance-data
Performance Status Indicator
Performance status indicators give an immediate picture of the status of a project, such as critical, at risk, and on track. Each distinct icon indicates the status and severity of performance. During KPI definition, you first associate status indicators with performance statuses:
Critical
Severe
At risk
On track
Ahead
You then associate these statuses with threshold levels. When KPI values are generated for a project, each value is compared to the defined thresholds and the corresponding status indicator for the KPI appears on project performance reports.
A status can identify negative performance so that you can take the appropriate actions to prevent or quickly resolve problems. Conversely, a status can identify positive performance to help you track expected or excellent performance.
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/fapfm/implementing-project-financial- Create Key Performance Indicators
Create key performance indicators (KPI) to measure how well your organization performs an operational, tactical, or strategic activity that is critical for the current and future success of the organization.
Note: To create KPIs you must enable a project unit to track key performance indicators.
Use the Threshold Levels section to specify thresholds to indicate the health status of a KPI. Select one of the following options:
Multiple threshold levels
Single threshold level value
Single threshold level range

NEW QUESTION 13
Which product offering enables non-exclusive relationships between multiple projects and tasks with contracts and contract lines? (Choose the best answer.)

• A. Project Contract-based costing
• B. Project Contract-based billing
• C. Project Contract Collection Center
• D. Contract Team Connect

Answer: B

Explanation:

Reference
http://www.oracle.com/us/products/applications/fusion/fusion-proj-port-mang-solut-brief-173079.pdf
(Page 2) Flexible Contract-Based Billing
Traditional contract and billing systems enforce a rigid relationship between a project and a funding agreement, which can constrain project setup and execution. Oracle Fusion Project Portfolio Management provides a highly flexible approach to project contract-based billing via a non-exclusive
relationship between multiple projects and tasks with contracts and contract lines. This means that you will have full control over defining contracts, rates and limits, and when and how to recognize revenue and generate invoices while segregating the planning and execution of your projects.

NEW QUESTION 14
Which three tools are available for accessing REST APIs?

• A. cURL
• B. Web Browser
• C. Oracle Transactional Business Intelligence
• D. Programming Language

Answer: ABD

Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/18b/fapap/Use_cURL.html REST API = REpresentational State Transfer (REST) Application Programing Interface (API)

NEW QUESTION 15
A consulting services company is currently working on a business transformation project for your client, which spans multiple years. At the first period close, the consulting services company has recognized revenue and the accounting entry created is:
Dr Unbilled Receivables 40,000 Cr Revenue 40,000
At the end of the period, the client is sent an associated bill. What would be the corresponding invoice accounting entry? (Choose the best answer.)

• A. Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000
• B. Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000
• C. Dr Accounts Receivables 40,000Cr Revenue 40,000
• D. Dr Unearned Revenue 40,000Cr Revenue 40,000

Answer: B

NEW QUESTION 16
Identify three correct statements about project types. (Choose three.)

• A. Project type can be used as a source in subledger accounting.
• B. Project type can be enabled for both billing and capitalization.
• C. Summarization options can be specified at project type.
• D. Classifications can be assigned at project type.
• E. Project type can be associated with multiple project units.

Answer: ABD

NEW QUESTION 17
Using Oracle Time and Labor, your client wants to put in a validation process that allows only a certain number of maximum hours an employee can charge in a day, and a minimum of hours he or she can report in a week.
What feature would you use to meet this requirement? (Choose the best answer.)

• A. project time validation rules
• B. time calculation rules
• C. time entry rules
• D. time audit rules

Answer: C

NEW QUESTION 18
Which three are true of what you can do in the Project Requirements work area?

• A. Create an implementation project.
• B. Organize backlog items by requirements.
• C. Create an execution project.
• D. Create project tasks for backlog items.
• E. Manage your list of backlog items.

Answer: BDE

Explanation:
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapem/manage-project-requirements.ht
Project Requirements: Explained
Requirements enable you to capture your business needs. If you manage projects using the Agile development methodology, you start by identifying the high-level requirements and decomposing them further to manage the completion of work on the requirement.
You use the Project Requirements work area to:
Organize backlog items by requirements
Manage your list of backlog items
Create project tasks for backlog items

NEW QUESTION 19
Identify the precedence order in which cost rates are determined for a planning resource when deriving raw costs for rate-based planning resources. (Choose the best answer.)

• A. Override rate > Job rate schedule > Resource class rate schedule > Person rate schedule
• B. Person rate schedule > Job rate schedule > Resource class rate schedule > Override rate
• C. Job rate schedule > Resource class rate schedule > Override rate > Person rate schedule
• D. Override rate > Person rate schedule > Job rate schedule > Resource class rate schedule
• E. Resource class rate schedule > Override rate > Job rate schedule > Person rate schedule

Answer: D

Explanation:
Reference https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_8718794B26A7BB93E040D30A688149A3

NEW QUESTION 20
Your organization has created an Enterprise Project Structure (EPS) and your executives review the overall project labor demand by using the EPS. Identify two correct statements about the periodic project labor demand. (Choose two.)

• A. Labor Demand FTE is calculated as Quarterly Allocation hours divided by Quarterly FTE hours, if aquarter is used as the basis for viewing labor demand.
• B. Labor Demand FTE is calculated as Yearly Allocation hours divided by Yearly FTE hours, if a year is used as the basis for viewing labor demand.
• C. Labor Demand FTE is calculated as Project Allocation hours divided by Project FTE hours, if project duration is used as the basis for viewing labor demand.
• D. Labor Demand FTE is calculated as Monthly Allocation hours divided by Monthly FTE hours, if a period is used as the basis for viewing labor demand.

Answer: AB

Explanation:
Reference https://docs.oracle.com/cloud/farel10/projectcs_gs/OAPEM/OAPEM1461017.htm#OAPEM1313472
Project Labor Demand: How It's Calculated
Project executives want to track the labor demand in projects in their organization. The Project Hierarchy Viewer provides project executives a hierarchical view of the enterprise project structure (EPS) along with the labor demand in terms of full-time equivalent (FTE).
Settings That Affect Project Labor Demand
Project application administrators must do the following to set up how project labor demand is calculated: Organize projects into hierarchical groups on the Manage Enterprise Project Structure page.
Change the quarterly FTE hours for the organization on the Define Project Management Implementation Options page, if different from 520 hours.
Note: You can choose to view labor demand annually instead of quarterly. The Project Hierarchy Viewer uses the current date to determine which year or quarter to display.
How Project Labor Demand Is Calculated
The Project Hierarchy Viewer calculates project labor demand in the following manner:
Spreads the allocation hours from the Manage Project Resources page evenly over the days that the resources are allocated to the project.
Divides the quarterly project allocation hours by the quarterly FTE hours to get the labor demand.
Rolls up the quarterly and annual labor demand up the hierarchy.

NEW QUESTION 21
You are set up as a Follower in Manage Tasks. Which two abilities can you accomplish? (Choose two.)

• A. Enter progress for tasks.
• B. Receive email notifications about changes that team members make to a task.
• C. View task details and the task activity stream.
• D. Edit task details.

Answer: BC

Explanation:
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/execute-project-tasks-and-deliv
Followers are persons who aren't working on the task but have an interest in reviewing the task progress. Only the resources and other followers can add followers to a task. If a resource assigns the task to another team member, the application automatically changes the original resource to a follower.
What's the difference between my tasks and tasks that I follow?
You can edit task details and enter progress for your tasks on the Manage Tasks page. If a task has multiple resources, only the primary resource can edit the task.
When you follow a task, you can view the task details and see the task activity stream. You receive e-mail notifications of changes that team members make to the task.
If a resource reassigns the task to another team member, then the previous resource automatically becomes a follower.

NEW QUESTION 22
Which application generates external roles to grant both function and data security? (Choose the best answer.)

• A. Authorization Policy Manager
• B. Oracle Identity Manager
• C. Business Process Manager
• D. Functional Setup Manager

Answer: B

Explanation:
Authorization Policy Manager (APM)
APM greatly simplifies the creation, configuration, and administration of application policies
APM does not support the management of users and external roles; these artifacts can only be viewed with the tool. Their provision and management is typically accomplished using Oracle Identity Manager
Oracle Identity Manager (OIM)
In regard to enterprise users and external roles, Authorization Policy Manager provides viewing and searching functionality only. To manage users and external roles, use Oracle Identity Manager or some other identity management tool.
OIM provision users, roles, and defines what a user can do in Oracle Cloud Duty Roles are mapped to jobs and assigned access privileges (Data Security)

NEW QUESTION 23
In a Project Draft Invoice preview, quantity (hours) and unit price (bill rate) are shown as fields on the invoice.
Quantity and unit price are then used to calculate the line total, then the total price of the invoice. After the invoice is transferred or created in Receivables, the invoice detail has a quantity of 1, and a unit price equal to the line total. The detailed Unit Price/Quantity does not come through on the Receivables invoice.
Identify the correct statement about details in the receivables invoice. (Choose the best answer.)

• A. The project sends only the invoice header and invoice line description to Receivables, not the invoice distributions.
• B. The project sends the invoice header, invoice line description, and the invoice distributions to Receivables.
• C. The project sends only the invoice header to Receivables, not the invoice line description and distributions.
• D. The project sends the invoice line description and the invoice distributions to Receivables, but not the invoice header.

Answer: B

NEW QUESTION 24
Your client is involved in automation control systems installation. Over the years, they have analyzed their total project spend on specific resource classes. They have identified that their cost spread distribution factor on a 10 spread point scale resembles:
0-4-10-11-14-13-10-4-0-0. Identify two ways to handle this kind of a spread on their budgets and forecasts. (Choose two)

• A. Create a new spread curve or edit an existing spread curve to exactly match the spread points and attach to a project template.
• B. Create a new spread curve or edit an existing spread curve to exactly match the spread points and attach to the resource class.
• C. Use the predefined Bell Curve spread with small deviations on the spread points.
• D. Use the predefined S-Curve spread with small deviations on the spread points.

Answer: BC

NEW QUESTION 25
Your customer complains that their project resources do not report their time promptly, which has resulted in incorrect reporting of project performance. What should you do to fix this problem? (Choose the best answer.)

• A. Enable track missing time at project unit.
• B. Enable track missing time at project type.
• C. Enable track missing time at project template.
• D. Enable track missing time at business unit.

Answer: A

NEW QUESTION 26
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