Oracle Fusion HCM: Compensation 2014 Essentials (1z0-495) Free Practice Test

Question 1

A corporation is implementing Oracle Fusion Compensation Management. Different currencies are set at the Legislative Data Group level, the Organization payment level, the Bank account level, and the payroll element level.
The currency shown while configuring salary basis comes from which level?

A. From the Bank account level

B. From the organization payment level, because the compensation is finally paid through this

C. From the Legislative Data Group level, because that is the highestlevelin the hierarchy

D. From the input value of the payroll element

Correct Answer: C

Question 2

You create a compensation plan and attach a Compensation Performance rating model to it. While the manager is allocating compensation, he specifies a rating for each of the employeesunder him. Where will the rating specified by the manager be available?

A. To the current compensation plan and the Performance Management system

B. To the current compensation plan and HR system

C. Only within the current compensation plan and all cycles associated with it

D. Only within the current compensation plan and the current cycle

Correct Answer: A

Question 3

While creating a compensation plan, the compensation manager of your client's organization chooses to enable Compensation Change statement, as an implementation consultant, which is the dependantconfiguration that you would advise the compensation manager to platform?

A. Enable the Communication tab type (Configure Worksheet Page Layout)

B. Enable Components and create at least one component (Configure Compensation Component)

C. Configure related components (Configure Worksheet Page Layout: Detail Table tab)

D. Enable components and create a component linked to the budget pool (Configure Compensation Components)

Correct Answer: B

Question 4

Identify the three choices when configuring approvals.

A. Auto approval

B. Approve mode

C. Alternative approve hierarchy

D. Submit mode

Correct Answer: A,B,D

Question 5

While administering compensation for the workforce, Manager X accidentally approves a lower manager's. Which three statements will be true in this case?

A. The lower-level manager can still make changes in the worksheet and resubmit it for approval.

B. The lower-level manager can withdraw the submission and reprocess the compensation allocation.

C. The lower-level manager's access level is changed to "Approved."

D. The worksheet goes to next level for approval.

Correct Answer: A,B,C

Question 6

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 need not be mapped to the specific source from which the compensation information is retrieved.

B. Compensation items are the foundation upon which the Compensation Statement is built.

C. Compensation items can be added to statement definitions directly.

D. Compensation items are added to a compensation category to include them in statements.

E. Compensation items cannot be used across statement definitions.

Correct Answer: C,E

Question 7

A corporation is implementing Oracle Fusion Compensation Management and needs to give a spot bonus for a new hire as well as give the same for special recognition for employees.
Identify the correct option that will enable the organization to achieve the desired results.

A. Configure the spot bonus as an individual compensation plan and add "Hire" as an action. Then, after an employee is hired, this plan can be added to employees anytime.

B. Configure the spot bonus as an individual compensation plan and add "All" as an action so that this plan can be added to anyone at any time.

C. Configure the spot bonus as an individual compensation plan and add "Hire" as an action so that for HR action "Hire," this bonus can be added. Also add "Manage Individual Compensation," which will enable Managers to add it to reportees.

D. Configure the spot bonus as an individual compensation plan and add "Hire" as an action so that for HR action "Hire," this bonus can be added. Also add "Manage Contributions," which will enable managers to add it to reportees.

Correct Answer: B

Question 8

Identify the three correct statements for an alternate approver hierarchy.

A. The highest Approval sequence is the final approver.

B. The alternate approver must be a part of the regular plan hierarchy.

C. By defining alternate approvers, you replace the standard approval hierarchy for a manager with a new set or sequence of approvers.

D. You can create multiple approvers for the same manager.

Correct Answer: A,C,D

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Oracle Fusion HCM: Compensation 2014 Essentials (1z0-495) Free Practice Test