Oracle Risk Management Cloud 2021 Implementation Essentials

QUESTION NO: 1
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. The Control Reviewer role has been assigned to some users. B. The Control Approver role has been assigned to someusers. C. This user is not a Control Approver; therefore, the status will be "In Review." D. New controls must always be reviewed, irrespective of security configuration.

Correct Answer: C

QUESTION NO: 2
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.)

A. Access Control Manager B. Access Model Manager C. Advanced Control System Administrator D. Application Data Source Manager E. Access incident Results Manager

Correct Answer: B,E

QUESTION NO: 3
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.)

A. Status: Open; State: Approved B. Status: On Hold; State: In Review C. Status: On-Hold; State: Reported D. Status: Closed; State: Final Close E. Status: Open; State: In Edit F. Status: Open; State: New G. Status: Closed; State: Closed - Awaiting Approval H. Status: On Hold; State: Awaiting Approval

Correct Answer: A,B,E,F

QUESTION NO: 4
You areimplementing Advanced Access Controls for a client. You need to create a model that returns users who have been assigned a specified access point but excludes a specific operating unit.
Which business object(s) do you need to add to your model to accomplish this objective?

A. Access Point and User Business Object B. Fusion Access Condition C. Access Point D. Access Entitlement E. Access Point and Fusion Access Condition

Correct Answer: D

QUESTION NO: 5
Which three are true about implementing a best practice solution for Financial Reporting Compliance?
(Choose three.)

A. It provides maximum return on investment withminimum project risk. B. Large scope of project requires high effort for maintenance and administration. C. It promotes successful adoption and minimizes on-going cost of operation. D. It promotes go-live with minimal acceptance testing and user training. E. It promotes rapid implementation and go-live.

Correct Answer: A,C,E

QUESTION NO: 6
Which two would need to happen in order for Advanced Access Controls (AAC) to automatically assign a status of "Closed" to an access incident? (Choose two.)

A. A global condition was added that resolves the conflict and a subsequent evaluation of controls finds that the incident no longer exists. B. A user sets the Status of the incident to "Resolved". C. A usersets the State of the incident to "Remediate". D. The incident is resolved using simulation in AAC and a subsequent evaluation of controls finds that the incident no longer exists. E. The incident is resolved in Fusion Cloud and a subsequent evaluation of controls finds that the incident no longer exists.

Correct Answer: C,E

QUESTION NO: 7
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?

A. He or she will be able to review results of all prior Audit tests and operational assessments for this control. B. He or she will be able to review results of all prior operational assessments for all controls. C. He or she will be able to review only results of prior operational assessments for this control. D. He or she will be able to review results of all prior assessments of all types for all controls. E. He or she will be able to review results of all prior assessments of all types for this control.

Correct Answer: A

QUESTION NO: 8
Which two should youdetermine to ensure that your client can successfully maintain and administer Perspectives post go-live? (Choose two.)

A. Identify users who will be responsible for creating andmaintaining controls and/or risks. B. Identify lookupvalues 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 if your client wants to review and/or approve new perspectives or changes made to existing perspectives.

Correct Answer: B,D

Oracle Risk Management Cloud 2021 Implementation Essentials - 1Z0-1058-21 Exam Questions