From your first practice test to the day you book the exam, TestSimulate covers the whole Oracle Accounting Hub Cloud 2024 Implementation Professional journey: 82 regularly updated questions, three study formats, 365 days of free updates, and a conditional money back guarantee. For busy professionals in 2026, one reliable source of 1z0-1060-24 preparation beats a dozen half-finished resources.

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1z0-1060-24 Certification Exam — Your Questions, Answered

Oracle Accounting Hub Cloud 2024 Implementation Professional Sample Questions:

Question 1

Your company is part of the financial services industry and manages various types of transactions, such as Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep in their source system. While analyzing their source transaction system, you are asked to propose an event model, based on the activities performed by the company.
According to your analysis, what should the Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep transactions be defined as while registering the source system?

A. Journal sources
B. Event classes
C. Source systems
D. Event types

Question 2

Which statement is true about journal entry rule sets?

A. Description rules can be assigned only at the header level of a journal entry rule set
B. Description rules must carry the same chart of accounts that is attached to the journal entry rule set
C. Description rules can be assigned at both the header and the line level of a journal entry rule set
D. Description rules can be assigned only at the header level of a journal entry rule set

Question 3

You are implementing Accounting Hub Cloud for one of your clients. Your client has agreed to have six segments for the chart of accounts: Company, Line of Business, Account, Department, Product, and Intercompany.
For one of the journal line rules, your client requests you to assign a common account rule for Company, Line of Business, Account, and Intercompany. However, for Department and Product, they want to use segment-specific rules.
How will you achieve this while setting up the journal entry rule set?

A. Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the accounting method
B. Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the supporting references
C. Assign Common Account Rule in the Account Combination rule field and assign Department and Product segment rules in the segment rules section
D. Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while assigning the accounting method to the ledger

Question 4

Your client, a banking organization, is currently using different transaction systems to take care of various types of loans, including vehicle loans, personal loans, education loans, and housing loans.
You recently uploaded the source system data that includes Loan Origination, Loan Interest Accrual, Loan Scheduled Payment, Loan Interest Adjusted, Loan Late Payment, and Loan Charge Off as event types.
Now the customer has asked you to add another transaction type called Loan Interest Accrual Reversal.
What should be your response to the customer?

A. A new transaction type cannot be added after the source system is registered.
B. Loan Interest Accrual Reversal can be added as a new event type by using the update spreadsheet template.
C. Loan Interest Accrual Reversal can be added as a new event type from the user interface.
D. The source system should be registered again by including the Loan Interest Accrual Reversal event type.

Question 5

Your customer is engaged in the business of distributing different types of loans to their customers. They need to generate dynamic descriptions for journal lines based on the type of interest rates. The two types of interest rates are adjustable and fixed.
What would be your recommendation to the customer?

A. Set up a single description rule with conditions defined for two priorities, one for adjustable rates and the other for fixed rates
B. Set up separate journal line rules for adjustable and fixed rates
C. Set up separate description rules for adjustable and fixed rates
D. Define a separate journal entry rule set for each rate type

Solutions: