Oracle Risk Management Cloud 2020 Implementation Essentials

QUESTION NO: 1
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. Whenthe customer logs in to Financials Risk Compliance (FRC), the customer cannot see any controls.
Which step was missed during the import process?

A. The Controls were not related to any risk objects. B. Data security policies for Controls were not created. C. The parent process was never approved. D. The Control Method was not set to a valid value.

Correct Answer: D

QUESTION NO: 2
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 isstored in a file.
Which transaction model will identify payments made to these companies?

A. 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 standardfilter: the "Payment" object's "Remit to Supplier Name" is similar to the custom object's "Company Name" by 95%. B. 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". C. You cannot define this model because imported objects from a file cannot be used with delivered objects. D. 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".

Correct Answer: D

QUESTION NO: 3
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 user sets 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 inFusion Cloud and a subsequent evaluation of controls finds that the incident no longer exists.

Correct Answer: C,E

QUESTION NO: 4
You have created a risk definition R100 and have created a new control C100 for this risk. No user has been assigned the Risk or Control reviewer and approver roles. What will be the state of R100 and C100 after submitting?

A. BothR100 and C100 will be in the "New" state. B. Both R100 and C100 will be in the "In Review" state. C. Both R100 and C100 will be in the "Approved" state. D. Both R100 and C100 will be in the "Awaiting Approval" state.

Correct Answer: D

QUESTION NO: 5
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 = Hide and Default C. Configure Module Objects > Edit Control Object Configuration > Result = Show D. Configure Module Objects > Edit Risk Object Configuration > Treatment = Show E. Configure Module Objects > Edit Risk Object Configuration >Result = Show

Correct Answer: C

QUESTION NO: 6
How do you populate the Control Method field with a new custom value, such as a third-party application'?

A. Use Lookup Meaning of the new lookup value. B. Use Lookup Code of the new lookup value. C. Enter the new value directly in the Controlmethod field. D. Use Lookup Type of the new lookup value.

Correct Answer: C

QUESTION NO: 7
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 canthis be accomplished?

A. The control manager should create a new test plan with Audit Test and Design Review as assessment types. B. The controlmanager does not need to update the control because any initiated assessment will include all control test plans. C. The control's test plan should be updated to Audit Test as the assessment type. D. The control's test plan should be updated to include both Audit Test and Design Review as assessment types.

Correct Answer: D

QUESTION NO: 8
You have created security roles for the Procure-to-Pay (P2P) Control Manager for the EMEA region in your client's organization. But, there are two problems with his or hersecurity configuration.
Problem 1: This person should not receive notifications to complete control assessments, but currently he or she does.
Problem 2: Also, although he or she has access to controls associated with EMEA, he or she is unable to access controls created for individual regions within EMEA.
You have given him or her the following job role:
* EMEA P2P Control Manager Job Role
* Seeded Control Manager Duty Composite
* Seeded Control Certification Assessor Duty Composite
* EMEA P2P Control Manager DataSecurity Policy
* Seeded Control Manager Data Security Policy
* Perspective filter where Region Perspective "equals" EMEA
* Perspective filter where Process Perspective "equals" P2P
Which two actions need to be taken to correct the problems? (Choose two.)

A. Remove Control Certification Assessor Composite from the EMEA P2P Control Manager job role. B. Add to the EMEA P2PControl Manager Data Security Policy the seeded Control Certification Assessor Data Security Policy. C. While defining data security policy, set the perspective value to EMEA including all child nodes of the EMEA region. D. Create EMEA P2P Control Certification Assessor Data Security Policy striped by both EMEA and P2P perspectives and assign to the job role.

Correct Answer: B,C

Oracle Risk Management Cloud 2020 Implementation Essentials - 1Z0-1058-20 Exam Questions