Free Access Oracle.1Z0-1058-21.v2022-11-25.q26 Practice Test (Page 3)

Question 6

Which three tasks should be completed before starting the Financial Reporting Compliance implementation?
(Choose three.)

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

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

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

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

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

Question 7

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.)

A.Initiate a planned assessment and include the two controls as part of the same assessment.

B.Perform impromptu assessments for the two controls.

C.Initiate two plannedassessments, one for each control.

D.Initiate a planned assessment that includes all controls assigned to perspective P2P.

E.Enable impromptu assessments during configuration of module objects.

Question 8

Which two should youdetermine to ensure that your client can successfully maintain and administer Perspectives post go-live? (Choose two.)

A.Identify if your client wants to review and/or approve new perspectives or changes made to existing perspectives.

B.Identify users who will be responsible for creating andmaintaining controls and/or risks.

C.Identify lookupvalues that need to be created for Control, Risk, and Issue Type fields.

D.Identify users who will be responsible for creating and maintaining perspectives, both for security as well as reporting.

Question 9

Which statement related to Advanced Access Controls is true?

A.Itdocuments risks and controls.

B.If helps enforce segregation of duties.

C.It analyzes transaction records.

D.If helps perform risk analysis and evaluation.

Question 10

How do you identify Financial Reporting Compliance Cloud's key stakeholders?

A.Identify executives who will manage customer balances and recognize revenue.

B.Identify users who will create customer invoices, andreceive and apply customer payments.

C.Identify users who need to create and submit expense reports easily.

D.Identify executives who need to certify internal controls for SOX or similar mandates.

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