Oracle Risk Management Cloud 2020 Implementation Essentials (1Z0-1058-20) Free Practice Test

Question 1

Which controls can user A manage for the following Control Manager role Configuration? See details of perspective trees and control-perspective association below.

A. Controls 1 and 2

B. None

C. All controls

D. Controls 2 and 4

E. Controls 1, 2, and 4

Correct Answer: A

Question 2

You completed the data migration successfully. You created100 controls, an Organization Perspective, and relationship of controls to the Organization Perspective. All controls are related to one perspective item. The Control Manager logs in to the application to view the new controls, yet there are none available for his or her review.
Identify three reasons for this. (Choose three.)

A. The Perspective Hierarchy is not in the Approved state.

B. No risks were mapped to the imported controls.

C. The Control Manager was not given the correct data security policy to access the controls.

D. The Perspective Hierarchy was not associated to the Control Object.

E. There wasno Control Type associated with the controls.

Correct Answer: B,C,E

Question 3

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. Migrate the organization's existing risk and control matrix into Financial Reporting Compliance.

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

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

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

Correct Answer: A,D,E

Question 4

How do you add values to a Risk Type list of values?

A. Add the lookup codes to the GRCM_RISK_TYPE Lookup Type.

B. Use the default lookup codes because there is no way to update the existing ones.

C. Because you cannot add newvalues, update one of the existing lookup codes to what the client wants it to be.

D. Populate the Import template with the new values in the Issue Severity column on the Controls tab.

E. Add the lookup codes to the GRC_RISK_TYPE Lookup Type.

Correct Answer: A

Question 5

Which three steps can be performed by using the Configure Module Objects pages? (Choose three.)

A. Edit the assessment activity question and guidance text for all assessment types.

B. Viewassessment response details for all assessment types.

C. Set "object-perspective" association.

D. Create object data import templates.

E. Choose display (or hide)configurable options for: results, events, consequences and treatments.

Correct Answer: B,C,E

Question 6

You build an access model with two entitlements. Each entitlement has four access points. The entitlements do not have any access points in common.
How many access point combinations will beanalyzed?

A. 4

B. 8

C. 20

D. 16

E. 25

Correct Answer: B

Question 7

The control manager needs to associate an existing test plan to an additional assessment type, Audit Test. The existing test plan is associated only with the Design Review assessment type.
How canthis be accomplished?

A. The control manager should create a new test plan with Audit Test and Design Review as assessment types.

B. The control's test plan should be updated to include both Audit Test and Design Review as assessment types.

C. The control's test plan should be updated to Audit Test as the assessment type.

D. The controlmanager does not need to update the control because any initiated assessment will include all control test plans.

Correct Answer: B

Question 8

You are validating your customer's import template before import. The customer requires that all controls be set up so they are noted to be used for the Audit Test assessment type. How do you verify that this has been done?

A. The Assessment Flag and the Audit Testing Flag are both set to "Y."

B. The Control status filed is set to "Audit Test."

C. The Control has a related process.

D. The Control comment filed has a notation for "Audit Test."

Correct Answer: C

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Oracle Risk Management Cloud 2020 Implementation Essentials (1Z0-1058-20) Free Practice Test