1z0-958: Oracle Risk Management Cloud 2018 Implementation Essentials

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 for Advanced 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

Correct answer: CE

You have built a transaction model to identify possible duplicate charges between invoicing and expense credit cards. The model logic already includes two standard filters that identify amounts and suppliers that are the same or similar, as shown:

Which additional date filter will further refine the set of duplicate charges found?

The “Payables Invoice” object’s “Invoice Date” attribute is greater than the “Expense Report Credit Card Transaction” object’s “Transaction Date” attribute.
The “Expense Report Credit Card Transaction” object’s “Last Updated Date” attribute is greater than the “Relative Value” of 3 months.
The “Expense Report Credit Card Transaction” object’s “Transaction Date” attribute is not blank.
The “Payables Invoice” object’s “Invoice Date” attribute is similar to the “Expense Report Credit Card Transaction” object’s “Transaction Date” attribute within +/- 10 days.

Correct answer: D

When running Synchronize Transaction from the Data Sources page of Application Configurations, which statement is true when you have two models using invoice and payment business objects?

One job will run for the two objects based on transactions dated before the Transaction Created As of Date.
One job will run for the two objects and the Transaction Created As of Date has no impact on the data.
One job will run for the two objects based on transactions dated after the Transaction Created As of Date.
Two jobs will run for the two objects based on transactions dated after the Transaction Created As of Date.

Correct answer: C

Which two steps are required to set up two levels of approval for new controls, which are added after the initial import? (Choose two.)

On the Controls tab of the Import template, set the control state to NEW for each control record.
Identify the organizations or business units for which users will perform review or approval.
Identify users who will perform control review and approval.
Identify the other roles to be provided for control managers.

Correct answer: BC

After generating an XML file export of Advanced Controls perspectives, you receive a message that the export job has been generated.

What are the three steps you need to perform in order to download and review the formatted export file? (Choose three.)

Open with an XML editor, such as Excel.
Navigate to Monitor Jobs and click the message link for the export job.
Click the Item Results link.
Click the Export File button.
Open with an HTML editor.

Correct answer: ABD

Explanation:

Reference: https://docs.oracle.com/en/cloud/saas/risk-management/18c/fauaf/using-advanced-financial-controls.pdf

The internal auditor advised the Control Owner of North America to perform assessment for two P2P controls.

Which three steps can the Control Owner perform to kick-off assessments for only those two controls? (Choose three.)

Initiate a planned assessment that includes all controls assigned to perspective P2P.
Perform impromptu assessments for the two controls.
Enable impromptu assessments during configuration of module objects.
Initiate a planned assessment and include the two controls as part of the same assessment.
Initiate two planned assessments, one for each control.

Correct answer: ACE

A Control Manager has changed the status of an issue to “In Remediation” and has submitted it.

What will be the state of the Issue if there is no issue validator, reviewer, or approver configured?

In Review
Active
Reported
Approved
In Edit

Correct answer: C

Explanation:

Reference: https://download.oracle.com/otn_hosted_doc/logicalapps/grcm_ug_801.pdf (48)

How do you add values to a Risk Type list of values?

Populate the Import template with the new values in the Issue Severity column on the Controls tab.
Add the lookup codes to the GRC_RISK_TYPE Lookup Type.
Because you cannot add new values, update one of the existing lookup codes to what the client wants it to be.
Add the lookup codes to the GRCM_RISK_TYPE Lookup Type.
Use the default lookup codes because there is no way to update the existing ones.

Correct answer: D

Explanation:

Reference: https://docs.oracle.com/en/cloud/saas/risk-management/19b/farrm/risk-management-administration.html#FARRM1556077

You have imported risks in Financial Reporting Compliance using data migration. Your client is asking if you can add controls for these risks.

Which two statements are true? (Choose two.)

To relate controls to risks, the risks must be in “approved” state.
You cannot use the Data Migration tool to add control records to map to existing risks.
You can use the Data Migration tool to add control records for the existing risks.
To relate controls, risks must be assigned to the same perspective that is assigned to the control you want to map it to.
You can manually add control definitions and relate them to the risks in Financial Reporting Compliance.

Correct answer: CD

Explanation:

Reference: https://docs.oracle.com/en/cloud/saas/risk-management/18b/farrm/implementing-risk-management.pdf

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

Correct answer: D

Explanation:

Reference: https://docs.oracle.com/en/cloud/saas/risk-management/19b/farsr/compliance-manager-job-role.html#Compliance_Manager_duties

Vendor:	Oracle
Exam Code:	1z0-958
Exam Name:	Oracle Risk Management Cloud 2018 Implementation Essentials
Date:	Sep 27, 2019
File Size:	390 KB

Download Oracle Risk Management Cloud 2018 Implementation Essentials.1z0-958.PracticeTest.2019-09-27.32q.vcex

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