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Oracle 1Z0-1058-21 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Risk Management Core Functions25%- Create and manage risk registers
- Implement risk response and treatment plans
- Define risk taxonomy and categories
- Perform risk assessment and scoring
Topic 2: Configuring Oracle Risk Management Cloud20%- Configure integration with external systems
- Set up the application including users, roles, and security
- Implement risk management configurations
- Define organization structure and business hierarchy
Topic 3: Reporting and Analytics10%- Use analytics for risk insights
- Generate standard and custom reports
- Create dashboards and visualizations
Topic 4: Testing and Implementation Best Practices10%- Plan and execute implementation testing
- Change management and user adoption
- Data migration considerations
Topic 5: Issues and Action Plans15%- Manage issues lifecycle
- Create and track action plans
- Issue remediation and closure
Topic 6: Controls Management20%- Control testing and certification
- Control deficiency management
- Map controls to risks
- Design and implement control frameworks

Oracle Risk Management Cloud 2021 Implementation Essentials Sample Questions:

Question 1

Which three statements are true about the purpose of perspectives? (Choose three.)

A. Perspectives can be used for categorizing Financial Reporting Compliance objects.
B. Perspectives are used to enable data security on Financial Reporting Compliance objects.
C. Perspectives can be used to define user privileges.
D. Perspectives enable functional security in Financial Reporting Compliance.
E. Perspectives can be used to represent regional hierarchies.


Question 2

How do you identify Financial Reporting Compliance Cloud's key stakeholders?

A. Identify users who need to create and submit expense reports easily.
B. Identify executives who will manage customer balances and recognize revenue.
C. Identify executives who need to certify internal controls for SOX or similar mandates.
D. Identify users who will create customer invoices, andreceive and apply customer payments.


Question 3

Which filter can be used to identify expense reports that contain suspicious expense type combinations, such as, a report for a single trip that contains taxi, car rental, and mileage expenses?

A. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "Equals" condition for values that include taxi, car, mileage.
B. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "In" condition for values that include taxi, car, mileage.
C. Inclusive function filter grouped by the "Expense Report Information" object's "Person" where the
"Expense Type" has an "In" condition for values that include taxi, car, mileage.
D. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "In" condition for values that include taxi, car, mileage.
E. Inclusive function filter grouped by the "Expense Report Information" object's "Person" where the
"Expense Type" has an "In" condition for values that include taxi, car, mileage.


Question 4

Your client has subscribed to Financial Reporting Compliance and would like to address risks using treatment plans.
Which option shows the settings that will help in achieving this configuration?

A. Configure Module Objects > Edit Risk Object Configuration > Treatment = Hide and Default
B. Configure Module Perspectives > Edit Financial Reporting Compliance > Risk-Organization mapping set to required, active.
C. Configure Module Objects > Edit Risk Object Configuration > Result = Show
D. Configure Module Objects > Edit Risk Object Configuration > Treatment = Show
E. Configure Module Objects > Edit Control Object Configuration > Result = Show


Question 5

A user has created and submitted a new control and the state of the control is "In Review." The user expected that the control state would change to "Approved." Why is the control not in the "Approved" state?

A. The Control Reviewer role has been assigned to some users.
B. New controls must always be reviewed, irrespective of security configuration.
C. This user is not a Control Approver; therefore, the status will be "In Review."
D. The Control Approver role has been assigned to someusers.


Solutions:

Question 1
Answer: B,D,E
Question 2
Answer: B
Question 3
Answer: D
Question 4
Answer: E
Question 5
Answer: C

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