Online Access Free 1z0-495 Practice Test

You want to use the Workforce Compensation Budget pool for a workforce compensation plan.
Select the task to be performed, in the correct sequence.
a)Configure the workforce compensation budget pool
b)Configure the workforce compensation plan details
c)Run the Start Compensation plan
d)Create at least one worksheet compensation component and associate the budget pool with it.

• A.Create the workforce compensation plan. Configure the workforce compensation budget pool,Configure the workforce compensation plan details, Create at least one worksheet compensation component and associate the budget pool with it, Run the Start Compensation Cycle process.
• B.Configure the workforce compensation budget pool, Configure the workforce compensation plan details, Run the Start Compensation Cycle process, Create the workforce compensation plan, Create at least one worksheet compensation component and associate the budget pool with it.
• C.Create the workforce compensation plan, Configure the workforce compensation plan details. Configure the workforce compensation budget pool, Create at (east one worksheet compensation component and associate the budget pool with it, Run the Start Compensation Cycle process.
• D.Run the Start Compensation Cycle process, Create the workforce compensation plan, Configure the workforce compensation budget pool. Create at least one worksheet compensation component and associate the budget pool with it, Configure the workforce compensation plan details
• E.Create the workforce compensation plan. Configure the workforce compensation budget pool,Create at least one worksheet compensation component and associate the budget pool with it, Configure the workforce compensation plan details. Run the Start Compensation Cycle process.

Your client's organization is a multi-country organization with headquarters in the US. All employees are covered under global compensation plan. However, the managers in each country wants to administer compensation in their country's respective currency. How would you enable this feature?

• A.Use fast formula to display the employee currency using conversion rates
• B.Set the preferred currency in the worksheet
• C.Enable currency switching
• D.Display the corporate currency

As compensation manager, you are creating a Salary compensation item to define a total compensation statement. Which two statements are correct about compensation items?

• A.Compensation items cannot be used across statement definitions.
• B.Compensation items are added to a compensation category to include them in statements.
• C.Compensation items can be added to statement definitions directly.
• D.Compensation items are the foundation upon which the Compensation Statement is built.
• E.Compensation items need not be mapped to the specific source from which the compensation information is retrieved.

The Budget Pool Storage Method selected is "Amount". One of the line managers in the organization has twenty employees reporting to him. One of the employees leaves the organization during the compensation cycle.
What will be the effect on the budget allocated to the Line Manager?

• A.The published budget is always a percentage of the total budget pool.
• B.The published budgets change when a manager's total eligible salary changes, such as when workers eligibility changes.
• C.The published amount stay with the manager when workers are reassigned or their eligibility changes.
• D.The published budget change when a manager's total eligible salary changes, such as when workers are reassigned.

A corporation is implementing Oracle Fusion Compensation Management and needs to set up the
following for all employees:
-Salary paid based on the grades of employees.
-Car allowance paid based on the department and position
-Spot bonus paid based on a committee's decision.
Identify the correct option for the setup.

• A.Set up a salary basis for "Salary" and associate a grade rate matrix to it, and add a car allowance and spot bonus as components for the salary basis along with Salary. Attach the required payroll elements to the salary. Have salary validations to restrict access and payment for specific departments and positions.
• B.Set up a salary basis for "Salary" and associate a grade rate matrix and the payroll element to it. Set up individual compensation plans for the car allowance and spot bonus, and restrict the access to line manager and HR specialist respectively. Additionally, add an eligibility profile to the car allowance to restrict it to specific departments and positions.
• C.Set up Salary and the spot bonus as two salary bases, because there are no eligibility restrictions. Set up the car allowance as an individual compensation plan- Add the required payroll elements and add eligibility profiles for the car allowance for specific departments and positions.
• D.Set up one individual compensation plan with all three options. Add the required payroll elements and add restriction based on eligibility profiles and plan access.