Download Oracle : 1Z0-1054-21 Questions & Answers as PDF & Test Software
Last Updated: Sep 17, 2026
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Booking the 1Z0-1054-21 exam is an investment, and sitting it twice is an expense nobody plans for. Preparing with TestSimulate's 136 practice questions for Oracle Financials Cloud: General Ledger 2021 Implementation Essentials is a practical way to protect that investment before exam day.
Oracle 1Z0-1054-21 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: General Ledger 2021 Implementation Essentials |
| Exam Number: | 1Z0-1054-21 |
| Real Exam Qty: | 55 |
| Exam Duration: | 90 minutes |
| Available Languages: | English |
| Passing Score: | 60% |
| Exam Price: | USD $245 |
| Exam Format: | Multiple Choice |
| Related Certifications: | Oracle Financials Cloud General Ledger 2021 Certified Implementation Specialist |
| Sample Questions: | Oracle 1Z0-1054-21 Sample Questions |
| Exam Way: | Pearson VUE testing center or Oracle online proctored exam |
| Pre Condition: | No formal prerequisite exam required. Oracle recommends implementation experience and completion of Oracle Financials Cloud General Ledger training. |
| Official Syllabus URL: | https://education.oracle.com/oracle-financials-cloud-general-ledger-2021-certified-implementation-specialist/trackp_ERPGL2021 |
Oracle 1Z0-1054-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Period Close | - Manage Accounting Periods - Close Monitoring and Reporting - Perform Period Close Activities |
| Budgetary Control and Encumbrance Accounting | - Control Budgets - Encumbrance Accounting - Funds Check Processing - Configure Budgetary Control |
| Financial Reporting | - Financial Statement Generation - Financial Reporting Studio - Smart View Reporting - Account Groups and Reports |
| Configuring Enterprise and Financial Reporting Structures | - Manage Accounting Calendars - Manage Account Hierarchies - Manage Legal Jurisdictions - Manage Legal Authorities and Legal Entities - Manage Geographies - Manage Chart of Accounts - Manage Ledgers |
| Journal Processing | - Allocation Rules - Recurring Journals - Configure Journal Approval - Journal Import and Posting - Create and Manage Journals |
| Configuring Ledgers | - Configure Reporting Currencies - Manage Ledger Sets - Configure Secondary Ledgers - Define Ledger Options |
| Intercompany Processing | - Process Intercompany Transactions - Intercompany Reconciliation - Configure Intercompany Balancing Rules |
Everything Candidates Ask About Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
The 1Z0-1054-21 exam, officially titled Oracle Financials Cloud: General Ledger 2021 Implementation Essentials, is the qualifying exam for the Oracle Financials Cloud certification, which sits at the Professional level. Earning it shows employers that you have the skills the credential stands for, and it is a solid step forward on a Oracle career path. It also connects to Oracle Financials Cloud General Ledger 2021 Certified Implementation Specialist, so the effort you put in now keeps paying off as you advance.
The 1Z0-1054-21 exam gives you 55 questions to complete within 90 minutes. Do the math before exam day: divide the total time by the question count to set a steady per-question pace, and flag any item that stalls you so you can return to it after securing the easier points. The most reliable way to build that rhythm is a full timed practice test under the same limit, which is exactly what TestSimulate's test engines are designed for.
The passing score for Oracle Financials Cloud: General Ledger 2021 Implementation Essentials is 60%, and the official registration fee is USD $245. Keep in mind that a retake means paying that fee again in full, which makes an honest self-check worthwhile: before you book, sit a timed practice test and make sure you are consistently scoring above the passing line with some margin to spare.
According to the official requirements: No formal prerequisite exam required. Oracle recommends implementation experience and completion of Oracle Financials Cloud General Ledger training.. Eligibility rules do change from time to time, so confirm the current details on the official exam page before you register.
Yes — TestSimulate offers a free PDF demo of the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials material, so you can review the question style and answer quality before you spend anything. After purchase, you also receive 365 days of free updates, and if your product expires you can extend the update service at a 50% discount from your member zone.
If you take the corresponding exam within 60 days of your purchase and do not pass, you are covered by the 100% Money Back Guarantee under clear conditions. To claim a full refund, submit a scan of your exam enrollment slip and your official Score Report PDF within two days of the exam; requests are processed within seven days. Note that sitting the exam within three days of purchase is not eligible, purchases that were never followed by an exam sitting do not qualify, free materials and expired orders are excluded, and the candidate name must match the payer name. Prefer an exchange instead? You can swap your product for two free exam packages of equal value and keep your update service. Delivery is immediate: your 1Z0-1054-21 material is ready for instant download and is also emailed to you within one minute of payment — contact customer service if nothing arrives within two hours. There is no limit on the number of computers you can install it on.
The current Oracle Financials Cloud: General Ledger 2021 Implementation Essentials syllabus is organized into 7 exam domains. The first three are:
- Period Close
- Configuring Enterprise and Financial Reporting Structures
- Budgetary Control and Encumbrance Accounting
For the full domain and subtopic breakdown, see the Exam Topics section above — that is the outline your TestSimulate practice questions are mapped to.
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
Your customer wants to create fully balanced balance sheets for the Company, Line of Business, and Product segments for both financial and management reporting. What is Oracle's recommended method for doing this?
- A. Create three segments for the Company, Line of Business, and Product segments and qualify them as primary balancing segment, second, and third balancing segments, respectively
- B. Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
- C. Create two segments where the first segment represents the concatenation of Company and Line of Business, and then enable secondary tracking for the Product segment
- D. Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions
Correct Answer: A 🗳️
Which two statements are true regarding infotiles and infolets?
- A. Infolets are accessed only from the Newsfeed homepage layout.
- B. You can create your own user defined Infolets.
- C. Infotiles have Front view, Back view, and Expanded view.
- D. You can refresh infolets to see up-to-date data.
- E. Infotiles pull data from Oracle Transactional Business Intelligence Analyses.
Correct Answer: B,C 🗳️
Identify three Differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Application (OBIA).
- A. Cloud customers can use both OTBI and OBIA
- B. Both OBIA and OTBI provie a set of predefined reports and dashbards and a library of metrics that help to measure business perfrormance.
- C. OBIA works for multiple sources including E-business Suite, PeopleSoft, JD Edwards, SAP and Fusion Applications.
- D. OTBI allows you to create custom reports from real-time transactional data against the database directly.
- E. OBIA is based on the universal data warehouse design with different prebilt adapters that can connect to various source application.
Correct Answer: C,D,E 🗳️
Which two statements are true regarding how intercompany balancing rule, are defined? (Choose Two)
- A. All Ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules
- B. You can only define balancing rules for different journals sources. You cannot define balancing rules for different journal categories
- C. you can define different rules for different chart of accounts, ledgers, legal entities, and primary balancing segment value.
- D. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types
Correct Answer: A,D 🗳️
What is most efficient way to add a new year to the accounting calendar?
- A. Use the Add Year button
- B. Import the periods from a spreadsheet
- C. Add the periods manually
- D. The Application automatically populates the year when you open the first period of a new fiscal year.
Correct Answer: A 🗳️
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