1Z0-333 Oracle Financials Cloud Practice Exam

Question 1 of 45

1

After loading your budget data into Fusion General Ledger, you can view budget balances using this feature. Which feature does not belong on the list?

Select one of the following:

Application Development Framework Desktop Integration (ADFdi)
Account Inspector
Account Monitor
Smart View

Explanation

Question 2 of 45

1

You need to build a complex account rule. Which four value types can you use in your definition? Select four.

Select one or more of the following:

Value Set
Constant
Existing Account Rule
Account Combination
Mapping Set
Source

Explanation

Question 3 of 45

1

Your customer has enabled budgetary and encumbrance controls at the requisition level. You have a purchase order for $1,000 USD which is fully reserved and has one invoice for $600 USD. When the purchase order is matched through the final match process, the purchase order is closed for further invoicing. What happens to the remaining $400 USD?

Select one of the following:

Invoice type will have less funds available by $400 USD
Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of $400 USD
Only obligation type will have $400 USD funds available
$400 USD will be added back to available funds
$400 USD will be expired and not available for use

Explanation

Question 4 of 45

1

Your user forgot the password. How do you resolve this?

Select one of the following:

Use the Manage Users page to update the user's information and change the password
Use Oracle Identity Management (OIM) to reset the user's password
Log in to the user's machine as an Administrator and change the password from the login page
Use Access Policy Manager (APM) to reset the user's password
Create new user ID and password for the user

Explanation

Question 5 of 45

1

Identify three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA). Select three.

Select one or more of the following:

OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source application
Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance
OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP and Fusion Applications
OTBI allows you to create custom reports from real-time transactional data against the database directly
Cloud customers can use both OTBI and OBIA

Explanation

Question 6 of 45

1

Your customer is using budgetary control and encumbrance. You have an open purchase order for $500 USD which you decide to match to an invoice for $300 USD. What will be the fund status of the purchase order and invoice?

Select one of the following:

The purchase order is Partially Liquidated and the invoice is partially reserved
The purchase order is Partially Liquidated and the invoice will be reserved
Both are reserved
The purchase order is liquidated and the invoice is partially reserved
Both are partially reserved
The purchase order is open and the invoice is validated

Explanation

Question 7 of 45

1

Which two delivered roles can access the full functionality of Functional Setup Manager? Select two.

Select one or more of the following:

Application Implementation Manager
Functional Setup Manager Superuser
Application Implementation Consultant
Any functional user
IT Security Manager

Explanation

Question 8 of 45

1

Which two statements are true regarding how Intercompany Balancing rule are defined?

Select one of the following:

All ledgers engaged in an intercompany transaction must share the same chart of accounts in order to define balancing rules
You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.
You can define different balancing rules for different combinations of journal sources, journal categories and transaction types.
You can define different rules for different charts of accounts, ledgers, legal entities and primary balancing segment value.

Explanation

Question 9 of 45

1

The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?

Select one of the following:

Journal Category
Journal Source
Journal Batch
Journal Description

Explanation

Question 10 of 45

1

Which three reporting tools are based on real-time data or balances? Select three.

Select one or more of the following:

Oracle Business Intelligence Applications (OBIA)
Smart View
Business Intelligence Publisher (BI Publisher)
Oracle Transactional Business Intelligence (OTBI)
Oracle Financial Reporting (FR)

Explanation

Question 11 of 45

1

Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, they want to have three balancing segments. Which two recommendations would you give your customer? Select two.

Select one or more of the following:

When entering journals manually the customer will need to make sure that the debits and credits are equal across all balancing segments because the system will not automatically balance the journal.
Every journal where debits do not equal credits across the three balancing segments will result in the system generating extra journal lines to balance the entry.
Additional intercompany rules will need to be defined for the two additional balancing segments.
Ledger balancing rules will need to be defined to instruct the system on how to generate balancing entries for the second and third balancing segments.

Explanation

Question 12 of 45

1

Your Financial Analyst needs to interactively analyze General Ledger balances with the ability down to originating transactions. Which three features facilitate this?

Select one or more of the following:

Account Inspector
Smart View
Account Monitor
Online Transactional Business Intelligence
Financial Reports published to excel

Explanation

Question 13 of 45

1

Your customer wants to secure their primary balancing segment values to prevent employees of one company from entering or viewing data of another company. You only need this for General Ledger balances and reporting. What two security features should you use? Select two.

Select one or more of the following:

Data Access Sets using an Access Set Type of Primary Balancing Segment
Cross-Validation Rules
Segment Value Security
Balancing Segment Value Assignment to Legal Entities

Explanation

Question 14 of 45

1

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 suggested best practice for doing this?

Select one of the following:

Create a segment that acts as the primary balancing segment and create values that represent a concatenation of all three business dimensions
Use account hierarchies to create different hierarchies for different purposes and use those hierarchies for reporting
Create three segments and qualify them as the primary balancing segment, second and third balancing segments respectively
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

Explanation

Question 15 of 45

1

You are implementing Segment Value Security rules. Which two statements are true?

Select one or more of the following:

You can use hierarchies to define rules
The Segment Value Security rules do not take effect until you assign the rules to users and products.
When you enable Segment Value Security on a segment, users will not be able to access any values until you grant access to users and products
When you enable or disable Segment Value Security, you do not need to redeploy your chart of accounts

Explanation

Question 16 of 45

1

Your customer wants to control spending against an annual budget but report balances on a monthly year-to-date basis. Encumbrance accounting is also in use. What setup is required to achieve this requirement?

Select one of the following:

Create an annual budget with absolute control and encumbrance accounting will work
Create a summary budget annually with advisory control and control budget monthly with absolute control
Create a summary budget annually with absolute control and monthly control budget with advisory or track control
Create two detail control budgets: annually with absolute control and monthly with advisory or track control
Create two detail control budgets: annually with advisory/track control and monthly with absolute control

Explanation

Question 17 of 45

1

Your customer has enabled encumbrance accounting. You have a control budget with the advisory level set at control. For November 2015, you budget for a given combination is $5000 USD. You have an approved requisition of $900 USD and you have an approved purchase order of $2500 USD. An adjustment encumbrance journal is created in the General Ledger for the obligation type for $1,600 USD. You then cancelled the approved PO line of $400 USD. For November 2015, you created a new invoice by matching to the PO for $2100 USD. Which two statements are true?

Select one or more of the following:

Purchase order encumbrance will be released for $2100 USD
As there are cancellations for $400 USD, the system will partially reserve the funds in November 2015 and fully reserve it in December 2015
As you are matching to a purchase order, the system will allow the user to create an invoice with the reservation status of reserved
Encumbrance entries are created only for nonmatched invoices so the system will not create an encumbrance accounting entries
The system always consumes budget of future periods if the limit for the current period is expired so December 2015 budget will be considered for reservation

Explanation

Question 18 of 45

1

Your customer has three legal entities, 50 departments and 10,000 natural accounts. They use intercompany entries. What is Oracle's recommended best practice when implementing a new chart of accounts? How many segments and what segment qualifiers should be used?

Select one of the following:

Define three segments for the company, department, and natural account. The qualifiers should be primary balancing segment, cost center segment, and natural account segment respectively
Define four segments for the company, department, natural account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment and intercompany segment respectively
Define five segments for the company, department, natural account, intercompany and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment and no qualifier respectively
Define three segments for the company, department and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment and natural account segment respectively.

Explanation

Question 19 of 45

1

You are implementing Financials Cloud and are using spreadsheets to load Legal Entities, Business units and Account Hierarchies. Which three setup objects can be loaded via a spreadsheet from Functional Setup Manager?

Select one or more of the following:

Complete Accounting Configuration
Suppliers and Customers
Banks, Bank Accounts and Branches
Chart of Account Values, Accounting Calendar, and Ledger
Setup data for Receivables and Payables product

Explanation

Question 20 of 45

1

Who are the three primary Functional Setup Manager users?

Select one or more of the following:

End users that perform transaction processing
Implementation Project Managers and Consultants
System Administrators
Application Developers
C-Suite Executives

Explanation

Question 21 of 45

1

You want to automatically post journal batches imported from subledger source to prevent accidental edits of deletions of the subledger sources journals which would cause an out-of-balance situation between your subledgers and general ledger. Which two aspects should you consider when defining your Autopost criteria ?

Select one of the following:

Use the all option for category and accounting period to reduce maintenance and ensure that all imported journals are included in the posting process
Include all of your subledger sources in the AutoPost Criteria. Divide up criteria criteria sets by subledger source only if you need to schedule different posting times.
Create your AutoPost criteria using minimal source and categories
Schedule your AutoPost criteria set to run during off-peak hours only

Explanation

Question 22 of 45

1

You just submitted the Accounting Configuration. Which two statements are correct?

Select one of the following:

You must define a Data Access Set to obtain full read/write access to the ledgers in the Accounting Configuration.
A Data Access Set with full read/write access to the ledger is automatically created
Open the ledger's period to begin entering transactions
Verify the data roles created and assign them to the General Ledger users

Explanation

Question 23 of 45

1

You need to define multiple allocation rules as efficiently as possible. Which three components can be reused across allocation rules?

Select one or more of the following:

Point of View
Run Time Prompts (RTP)
Formulas
RuleSets

Explanation

Question 24 of 45

1

You want to define a tree or hierarchy for use in reports and allocations. What three aspects should you remember when creating the tree?

Select one or more of the following:

You need to flatten the rows to be able to use drilldown in Smart View and you must publish tree to view the hierarchy in Essbase cubes
You must flatten the columns and publish the tree to view the hierarchy in Essbase cubes
The tree should have at least two tree versions to reduce report and allocation maintenance
You only need to flatten the columns if you plan to use the hierarchy in Oracle Transacational Business Intelligence (OTBI)
It is fine to have the same child value roll up to two or more different parent values

Explanation

Question 25 of 45

1

You want to specify Intercopmany System Options. Which three factors should you consider?

Select one or more of the following:

Whether to enforce an enterprise-wide currency or allow in intercompany transactions in local currencies
Whether to allow receivers to reject intercompany transactions
Automatic or manual batch numbering and the minimum transaction amount
Automatic or manual batch numbering and the maximum transaction amount
The approvers who will approve intercompany transactions

Explanation

Question 26 of 45

1

You are defining intercompany balancing rules that are applied to a specific source and category, such as payables and invoices, or a specific intercompany transaction type such as intercompany sales. Which two statements are correct?

Select one or more of the following:

You must define rules for every combination of specific categories and sources. Otherwise the intercompany balancing will not work
You can create a rule for all sources and categories by selecting the source "other" and the category "other"
If you choose to have rules at various levels, then intercompany balancing evaluates the rules in this order: Ledger, Legal Entity, chart of accounts, and primary balancing segment value
Set up a chart of accounts rule for every chart of accounts structure you have in order to ensure that Intercompany Balancing will always find a rule to use to generate balancing accounts.

Explanation

Question 27 of 45

1

What is the most efficient way to add a new year to the accounting calendar?

Select one of the following:

Add the periods manually
Use the Add Year button
Import the periods from a spreadsheet
The application automatically populates the next year when you open the first period in a new fiscal year

Explanation

Question 28 of 45

1

You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts. What is the solution?

Select one of the following:

Use the Open Account Balances Listing report that has balances by customer
Use the Third Party Control Account feature
Use Supporting References to capture customer classification information
Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI)

Explanation

Question 29 of 45

1

Most of the accounting entries for transactions from your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source. At what level can you override the default accounting attribute assignment?

Select one of the following:

Event Type
Journal Line Rule
Event Class
Journal Entry Rule Set
Journal Entry

Explanation

Question 30 of 45

1

What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?

Select one of the following:

Transaction Objects
Event Entities
Mapping Sets
Accounting Attributes
Event Classes

Explanation

Question 31 of 45

1

You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file along with the customer classification information. You want the accounting amounts to be tracked by customers too but you do not want to add a customer segment to your chart of accounts. What is the solution?

Select one of the following:

Use the Open Account Balances Listing report that has balances by customer
Use the Third Party Control Account feature
Use Supporting References to capture customer classification information
Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI)

Explanation

Question 32 of 45

1

Your customer has only licensed Fusion Financials and wants to use approval workflows. Using which page to enter users and assign roles does Oracle consider best practice?

Select one of the following:

Manage Users
Hire a New Employee
Oracle Identity Management (OIM)
Policy Manager (APM)
Financials not a stand-alone product

Explanation

Question 33 of 45

1

The budget managers specify the budget accounts they want to monitor and decide on percentage threshold of funds availability. Where must you define the details while analyzing budget balances in the Budget Account Monitor page?

Select one of the following:

Budget Group
Application Development Framework Desktop Integral iron (ADFdi)
Account Group
Budget Controller
Budget Account Group

Explanation

Question 34 of 45

1

What are the two benefits of having the Essbase cube embedded in Fusion General Ledger? Select two.

Select one or more of the following:

General ledger balances are multidimensional allowing you to perform robust reporting and analysis
You can access real-time results for reporting and analysis because every time a transaction is posted in General Ledger, multidimensional balances are also updated simultaneously
You no longer need to create and maintain hierarchies because the Essabase cubes are created when you create your chart of accounts
Posting performance is much faster
Integrating with third-party systems is easier because the Essbase cube provides chart of accounts mapping rules

Explanation

Question 35 of 45

1

All of your subsidiaries reside on the same application instance but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle's recommended approach to performing consolidations?

Select one of the following:

Use Oracle Hyperion Financial Management for this type of complex consolidation
Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts then transfer balances to the corporate consolidation ledger using the balance transfer program
Translate balances to the corporate currency for ledgers not in the corporate currency use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary
Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency and accounting method. Create a separate elimination ledger to enter intercompany eliminations then create a ledger set across all ledgers and report on the ledger set

Explanation

Question 36 of 45

1

All of your subsidiaries can share the same ledger with their parent company and all reside on the same application instance. They do perform intercompany accounting. What does Oracle consider the best practice approach to performing consolidations?

Select one of the following:

Use Oracle Hyperion Financial Management for this type of complex consolidation
User General Ledger's Balance Transfer programs to transfer subsidiary ledger balances to the parent ledger and then enter eliminating entries as a separate balancing segment in the parent ledger
Use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary. Any eliminating entries can be entered in yet another separate balancing segment
Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then create a ledger set across all ledgers and report on the ledger set.

Explanation

Question 37 of 45

1

Identify three functions of Functional Setup Manager.

Select one or more of the following:

Provide a central place to access and perform all of the setup steps across Fusion application product
Automatically generate lists of setup tasks in the correct sequence with dependencies highlighted
Automatically mark the status of tasks as completed after they have been completed
Assign setup tasks to individuals with due dates where users must manually update their completion status
Centrally manage the close processes across subledgers and ledgers

Explanation

Question 38 of 45

1

Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want easily create eliminating entries for the intercompany activity. What should you recommend?

Select one of the following:

Define an intercompany segment in the chart of accounts. The intercompany module and the intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading
There is no need to define an intercompany segment. You can track the intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.
Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment
There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the intercompany rules you define

Explanation

Question 39 of 45

1

Your enterprise structure has one ledger and two business units. Business until one wants to enable budgetary control for requisitioning only in procure-to-pay business functions and business unit two wants to enable budgetary control for payable invoicing only in procure-to-pay business functions. Which two statements are correct?

Select one or more of the following:

While defining control for business unit two, enable control and requisitioning and define the exceptions to only include invoicing
Define control for business unit two to disable control for requisitioning, purchasing and receiving
Define budgetary control at ledger level with budgetary control exceptions for each business unit
While defining control for business unit one, disable control for purchasing, payable, invoicing, and receiving
While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
Define budgetary control at ledger level and only encumbrance controls at the business units

Explanation

Question 40 of 45

1

You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?

Select one of the following:

Perform an account analysis online
Open a Smart View file saved on your desktop
Create an Account Group using Account Monitor
Use Account Inspector

Explanation

Question 41 of 45

1

You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What do you need to enable?

Select one of the following:

Drill Through in Grid Properties
Report Functions
Nothing. All report balances are drillable in all FR studio reports
Allow Expansion

Explanation

Question 42 of 45

1

Your customer operates three shared services that perform accounting functions across 50 countries. What feature allows them to share setup data, such as Payment Terms, across business units?

Select one of the following:

Reference Data Sets
Business Units Functions
None. Setup data is partitioned by business unit and must be defined separately per business unit
Data Access Sets

Explanation

Question 43 of 45

1

You entered a journal and the client is asking for the following information:

- The current account balance
- What the future account balance will be if the Journal is approved and posted

How will you get this information?

Select one of the following:

View the Projected Balance region in the Create Journals page
Run a Trial Balance before and after posting
Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances
Query the account balance online

Explanation

Question 44 of 45

1

While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that?

Select one or more of the following:

The Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set
The Account Rule's chart of accounts have no account values assigned
The Account Rule's conditions are not defined
The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set

Explanation

Question 45 of 45

1

You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment. What does Oracle consider as best practice to define this chart of accounts?

Select one of the following:

Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance
Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level
Define the company segment only and qualify it as both the primary balancing segment and intercompany segment
Define two different charts of accounts

	Created by Rebecca Bunker about 8 years ago

Implementation Specialist Oracle Financials Cloud Quiz on 1Z0-333 Oracle Financials Cloud Practice Exam, created by Rebecca Bunker on 03/11/2016.

1Z0-333 Oracle Financials Cloud Practice Exam

1Z0-333 Oracle Financials Cloud Practice Exam

Question 1 of 45

After loading your budget data into Fusion General Ledger, you can view budget balances using this feature. Which feature does not belong on the list?

Select one of the following:

Explanation

Question 2 of 45

You need to build a complex account rule. Which four value types can you use in your definition? Select four.

Select one or more of the following:

Explanation

Question 3 of 45

Select one of the following:

Explanation

Question 4 of 45

Your user forgot the password. How do you resolve this?

Select one of the following:

Explanation

Question 5 of 45

Identify three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA). Select three.

Select one or more of the following:

Explanation

Question 6 of 45

Your customer is using budgetary control and encumbrance. You have an open purchase order for $500 USD which you decide to match to an invoice for $300 USD. What will be the fund status of the purchase order and invoice?

Select one of the following:

Explanation

Question 7 of 45

Which two delivered roles can access the full functionality of Functional Setup Manager? Select two.

Select one or more of the following:

Explanation

Question 8 of 45

Which two statements are true regarding how Intercompany Balancing rule are defined?

Select one of the following:

Explanation

Question 9 of 45

The Accounting Manager requests that a schedule be created to automatically post journals from subledgers at different times. Which journal attribute should you use to set the automatic posting criteria?

Select one of the following:

Explanation

Question 10 of 45

Which three reporting tools are based on real-time data or balances? Select three.

Select one or more of the following:

Explanation

Question 11 of 45

Your customer wants to have balance sheets and income statements for their cost center and program segments. That is, they want to have three balancing segments. Which two recommendations would you give your customer? Select two.

Select one or more of the following:

Explanation

Question 12 of 45

Your Financial Analyst needs to interactively analyze General Ledger balances with the ability down to originating transactions. Which three features facilitate this?

Select one or more of the following:

Explanation

Question 13 of 45

Your customer wants to secure their primary balancing segment values to prevent employees of one company from entering or viewing data of another company. You only need this for General Ledger balances and reporting. What two security features should you use? Select two.

Select one or more of the following:

Explanation

Question 14 of 45

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 suggested best practice for doing this?

Select one of the following:

Explanation

Question 15 of 45

You are implementing Segment Value Security rules. Which two statements are true?

Select one or more of the following:

Explanation

Question 16 of 45

Your customer wants to control spending against an annual budget but report balances on a monthly year-to-date basis. Encumbrance accounting is also in use. What setup is required to achieve this requirement?

Select one of the following:

Explanation

Question 17 of 45

Select one or more of the following:

Explanation

Question 18 of 45

Your customer has three legal entities, 50 departments and 10,000 natural accounts. They use intercompany entries. What is Oracle's recommended best practice when implementing a new chart of accounts? How many segments and what segment qualifiers should be used?

Select one of the following:

Explanation

Question 19 of 45

You are implementing Financials Cloud and are using spreadsheets to load Legal Entities, Business units and Account Hierarchies. Which three setup objects can be loaded via a spreadsheet from Functional Setup Manager?

Select one or more of the following:

Explanation

Question 20 of 45

Who are the three primary Functional Setup Manager users?

Select one or more of the following: