Pass Exam Questions Efficiently With 1z0-1057-22 Questions (2024)
1z0-1057-22 Questions - Truly Beneficial For Your Oracle Exam
Oracle 1z0-1057-22 exam is designed to test the knowledge and expertise of individuals who want to become Oracle Project Management Cloud 2022 Implementation Professionals. 1z0-1057-22 exam covers a wide range of topics related to project management, including project planning, execution, monitoring and control, and project closure. It also tests the candidate's understanding of Oracle Project Management Cloud 2022, including its features, functions, and capabilities.
To pass the Oracle 1z0-1057-22 exam, candidates must have a good understanding of project management principles and practices, as well as a strong grasp of Oracle Project Management Cloud 2022. They must also be able to apply their knowledge to real-world scenarios and demonstrate their ability to manage projects effectively using Oracle Project Management Cloud 2022. 1z0-1057-22 exam is ideal for project managers, team leaders, and other professionals who want to improve their project management skills and gain a competitive edge in the job market.
NEW QUESTION # 27
Which two statements are true about the cross-charge method, Borrowed and Lent?
- A. This method creates a formal internal invoice.
- B. This method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations within a legal entity.
- C. You must set up the contract business unit to use this method.
- D. Costs or revenue are shared based on transfer price rules with this method.
Answer: B,D
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjc/process-project-cost-transactions.html#OAPJC284872 What's a borrowed and lent processing method?
A method of processing cross-charge transactions that generates accounting entries to share revenue or transfer costs from the provider organization to the receiver organization within a legal entity. An internal invoice isn't created but costs or revenue are shared based on the transfer price rules. This method provides a financial view of the performance of an organization.
NEW QUESTION # 28
When setting up capitalization options on a project type, you have decided to enable the Require Complete Asset Definition option. If this option is enabled, the "Transfer Assets to Oracle Fusion Assets" process will place asset lines with complete definition into which queue in Oracle Fusion Assets?
- A. Post
- B. Hold
- C. Posted
- D. New
Answer: A
NEW QUESTION # 29
Identify the three contract attributes from Project Performance Data that are used in Project Performance dashboard regions. (Choose three.)
- A. Projects
- B. Task
- C. Contract Line
- D. Contract Header
- E. Expenditure Type
Answer: A,B,C
Explanation:
Reference https://docs.oracle.com/cloud/farel9/projectcs_gs/FAUAR/F1537947AN10251.htm
NEW QUESTION # 30
You are now the project manager of a newly created implementation project. Which two items are not part of managing an implementation project?
- A. Generate a list of setup tasks.
- B. Assign tasks to various users who are responsible for managing setup data.
- C. Monitor the progress of completing setup tasks.
- D. Select the offering you want to implement.
- E. Enable optional functional areas and features by opting in.
Answer: D,E
Explanation:
Selecting the offering you want to implement and enabling optional functional areas and features by opting in are not part of managing an implementation project. These are part of configuring an implementation project, which is done before managing an implementation project. Configuring an implementation project allows you to define the scope and features of your implementation based on your business needs. Managing an implementation project involves assigning tasks to various users who are responsible for managing setup data, monitoring the progress of completing setup tasks, and generating a list of setup tasks. These are part of executing an implementation project, which is done after configuring an implementation project. Executing an implementation project allows you to perform the setup tasks and validate the setup data for your implementation. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356021
NEW QUESTION # 31
Which three setups can be configured by using Rapid Implementation for Project Financial Management Applications?
- A. Expenditure Types
- B. Project Types
- C. Work Type
- D. Project Templates
- E. Project Class Categories
Answer: A,B,D
Explanation:
Rapid Implementation for Project Financial Management Applications allows you to configure some common setups for project costing and billing using predefined templates and spreadsheets. Some of the setups that can be configured using Rapid Implementation are expenditure types, project templates, and project types. Work types and project class categories are not part of Rapid Implementation. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2355871
NEW QUESTION # 32
Which setup option is common to both financial and project plan types?
- A. Identify whether the plan type is the default selection when you create budget or forecast versions.
- B. Enable the entry of plan amounts in currencies other than the project currency.
- C. Enable the use of a workflow for managing budget or forecasting status changes.
- D. Manage the options for creating control budgets in Oracle Fusion Budgetary Control.
Answer: B
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-control-configuration-manage-financial-and-project-plan-types.html#OAPFM75315 Financial and Project Plan Setup Options The following table describes the basic budget, forecast, or project plan setup options that determine how a plan type is used in the context of a project. Except for third-party scheduling, you can't edit these options at the project level.
Option
Location
Description
Planning amounts
Financial plan type
Indicates that the financial plan type supports the creation of versions with the following amounts:
Cost amounts
Revenue amounts
Both cost and revenue amounts
Either cost or revenue amounts
Approved budget or primary forecast
Financial plan type
Determines whether a financial plan type is used for creating approved budget versions or primary forecast versions that are used for plan comparison or project performance reporting.
Default financial plan type
Financial plan type
Determines whether the financial plan type is the default selection when you create budget or forecast versions.
Workflows
Financial plan type
Enables the use of a workflow for managing budget or forecast status changes.
Third-party scheduling software
Project plan type
Indicates whether project planning is performed in Microsoft Project.
If third-party scheduling is disabled in the project plan type, you can use the associated project or project template to create a project in Microsoft Project. However, you can't export the new project or link it to one created in Oracle Fusion Project Portfolio Management.
Multiple transaction currencies
Financial and project plan type
Enables entry of plan amounts in currencies other than the project currency.
Budgetary control settings
Financial plan type
Manages options for creating control budgets in Oracle Fusion Budgetary Control.
NEW QUESTION # 33
Your organization has been awarded a new contract based on which you are allowed to sell:
Items not tracked in inventory
Inventory items
Services
Which contract structure would fulfill your requirement of item sales? (Choose the best answer.)
- A. Create two contract lines with a line type each of "product, project-based, sell agreement, standalone" and "sell intent, item, project-based".
- B. Create two contract lines with a line type each of "sell intent, free-form, project-based" and "sell intent, item, project-based".
- C. Create two contract lines with a line type each of "sell intent, item, project-based' and "subscription, project-based, sell".
- D. Create two contract lines with a line type each of "free-form, project-based buy agreement" and "bundle sell, project-based".
Answer: B
Explanation:
To sell items not tracked in inventory, inventory items, and services, you can create two contract lines with different line types. The line type of "sell intent, free-form, project-based" allows you to sell any item or service without specifying the item number or quantity. The line type of "sell intent, item, project-based" allows you to sell inventory items by specifying the item number and quantity. Both line types are project-based, meaning they are linked to a project and generate revenue based on project performance. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-contracts.html#OAPFM2355835
NEW QUESTION # 34
Identify the valid approval group type applicable to Oracle Project Financial Management Cloud. (Choose the best answer.)
- A. Job
- B. Position
- C. Flexfield
- D. Dynamic
- E. Static
Answer: E
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/applications-common/19b/facia/define-approval-management.html#FACIA3124477 Topic Approval Groups Each approval group includes a set of users that you configure to act on tasks in a certain pattern. Tasks can be defined to get routed to an approval group instead of an individual user. You can nest approval groups within approval groups.
You have two options for defining the group:
Static: Select the specific users to include in the group.
Dynamic: Provide the logic to use to determine the users in the group.
NEW QUESTION # 35
Which product offering enables you to collaboratively plan and deliver projects by leveraging intuitive and integrated scheduling tools?
- A. Project Costing
- B. Project Management
- C. Project Control
- D. Resource Management
Answer: B
Explanation:
Project Management is the product offering that enables you to collaboratively plan and deliver projects by leveraging intuitive and integrated scheduling tools. Project Management allows you to create and manage project plans, tasks, deliverables, issues, milestones, gates, etc. using various methods and sources. You can also monitor and control project progress and performance using dashboards and reports. Resource Management is the product offering that enables you to optimize the utilization and allocation of resources for projects and tasks. Resource Management allows you to create and manage resource requests, assignments, pools, calendars, etc. using various criteria and sources. You can also monitor and analyze resource availability and demand using dashboards and reports. Project Control is the product offering that enables you to simplify the planning, budgeting, and forecasting capabilities for projects and tasks. Project Control allows you to create and manage project budgets, forecasts, financial plans, etc. using various methods and sources. You can also monitor and control project costs and variances using dashboards and reports. Project Costing is the product offering that enables you to capture and process project costs from various sources and applications. Project Costing allows you to create and manage project transactions, expenditures, assets, etc. using various rules and options. You can also generate project costing and accounting entries using dashboards and reports. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/overview-project-financial-management.html#OAPFM2356301
NEW QUESTION # 36
Which data format is supported by SOAP Web services to establish communication between web services consumers and web services providers?
- A. CSV
- B. JSON
- C. XLSX
- D. XML
Answer: D
Explanation:
XML (Extensible Markup Language) is the data format that is supported by SOAP (Simple Object Access Protocol) Web services to establish communication between web services consumers and web services providers. XML is a standard format that allows data to be exchanged across different platforms and applications. SOAP Web services use XML to encode the messages and data that are sent and received between the web services endpoints. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/integrate-project-financial-management.html#OAPFM2356071
NEW QUESTION # 37
You search for resources to fulfill a project resource request but are unable to proceed after receiving the following error message: "The search for resources cannot be completed because the project resource search index is not available. Contact your help desk." Identify the cause for this error message. (Choose the best answer.)
- A. The most recent update of the index finished successfully.
- B. The index has been built.
- C. The index is in the process of being updated.
- D. The index is not in the process.
Answer: C
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/fapfm/implementing-project-execution-management-applications.html#FAPFM1724547 Topic - Submitting the Process to Maintain Project Resource Search Index: Procedure Submit the Maintain Project Resource Search Index job set to update the resources that appear on the Search and Evaluate Resources page when a resource manager searches for resources to fulfill project resource requests. The job set consists of a set of processes that facilitate efficient and rapid searches for qualified resources.
Resource managers can't search for resources or view resource details if the search index isn't available for a project resource request with qualifications or keywords. For project resource requests without qualifications and keywords, resource managers can search for and evaluate resources based on resource availability even if the search index isn't current or available.
Caution: The search index isn't available if the Maintain Project Resource Search Index job set process fails, or while the process is running.
NEW QUESTION # 38
Your client has implemented Oracle Cloud Applications with their United States business unit and United Kingdom business unit. After six months, they acquired another company in China and added a China business unit. A project accountant in your organization is authorized to access transactions for the US, UK, and China business units. The project accountant can see the transactions for the US and UK business units but not for the China business unit. Why is he not able to see the transactions for the China business unit? (Choose the best answer.)
- A. The JOB role relevant to the China business unit is not assigned to the project accountant.
- B. The China business unit is associated with a different legal entity than the US and UK business units.
- C. The US and UK business units are linked to different ledgers than the China business unit.
- D. The project accountant is not assigned to the external role that grants access to the China business unit.
Answer: D
Explanation:
To access transactions for a business unit, the project accountant needs to be assigned to an external role that grants access to that business unit. The external role is defined by the security profile of the business unit and can be different for each business unit. The job role and the legal entity are not relevant for accessing transactions for a business unit. The ledger is relevant for accounting transactions, but not for project transactions. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/set-up-project-financial-management.html#OAPFM2355903
NEW QUESTION # 39
Stigma consulting has been hired by a client to implement Project Management Cloud. Which role should they assign to a user for using the rapid implementation feature to set up the Project Financial Management offering by populating and uploading a Microsoft Excel workbook?
- A. Project Application Administrator
- B. Project Administrator
- C. Project Integration Specialist
- D. Project Executive
Answer: B
NEW QUESTION # 40
Your organization performs revenue recognition based on the Labor and Non-labor Burden schedule types. Identify the setup required to enable this kind of revenue recognition. (Choose the best answer.)
- A. Create a revenue method with a revenue method classification of Rate Based.
- B. Create a revenue method classification with a revenue method of Percent Spent.
- C. Create a revenue method with a revenue method classification of Amount Based.
- D. Create a revenue method classification with a revenue method of Percent Complete.
Answer: A
Explanation:
To perform revenue recognition based on the Labor and Non-labor Burden schedule types, you need to create a revenue method with a revenue method classification of Rate Based. This classification allows you to use the burdened cost rates of labor and non-labor resources as the basis for revenue recognition. The burdened cost rates are derived from the burden schedules that are assigned to the project or task. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-revenue.html#OAPFM2355981
NEW QUESTION # 41
You are managing a project based on a Waterfall model. You define a project and a project plan in Oracle Project Portfolio Management with tasks and subtasks applicable to each of the phases of the project: Initiation, Discovery, Design, Build, Test, and Deploy. As a project manager, you want to define deliverables for your project requirements that are elucidated during the Discovery phase of your project. You now want to understand how the inheritance between requirements, tasks, and deliverables works. Identify the two correct statements in this respect. (Choose two.)
- A. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
- B. A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.
- C. You associate a deliverable with a task, independent of associating a requirement with a task.
- D. The association of a deliverable with a task is dependent on associating a requirement with a task.
Answer: A,C
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapem/define-project-deliverables.html#OAPEM1122079 Associate deliverables with one or many tasks or requirements at any level. Associate existing deliverables to tasks or requirements or create deliverables directly for tasks or requirements. You can delete a deliverable in New status if it is not associated with tasks or requirements.
Can deliverables for projects and tasks be inherited from associated requirements?
No. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
You associate a deliverable with a task, independent of associating a requirement with a task.
NEW QUESTION # 42
You have defined two expenditure types but they are not available for selection when you enter an expenditure batch.
What is the reason for this problem?
- A. The two expenditure types are not assigned to the reference data set that is assigned to the project unit in which the transaction is performed.
- B. The two expenditure types are not assigned to the reference data set that is assigned to the project expenditure organization in which the transaction is performed.
- C. The two expenditure types are not assigned to the reference data set that is assigned to the project-owning organization in which the transaction is performed.
- D. The two expenditure types are not assigned to the reference data set that is assigned to the business unit in which the transaction is performed.
Answer: A
Explanation:
The reason for this problem is that the two expenditure types are not assigned to the reference data set that is assigned to the project unit in which the transaction is performed. Expenditure types are a type of reference data that can be shared across different business units or organizations using reference data sets. To make an expenditure type available for selection when you enter an expenditure batch, you need to assign it to the reference data set that is assigned to the project unit of the transaction. The project unit determines the reference data set for expenditure types. The reference data sets that are assigned to the project expenditure organization, the business unit, or the project-owning organization do not determine the reference data set for expenditure types. These reference data sets may determine other types of reference data such as expenditure categories, expenditure item dates, etc. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356231
NEW QUESTION # 43
Which application generates external roles to grant both function and data security? (Choose the best answer.)
- A. Business Process Manager
- B. Functional Setup Manager
- C. Oracle Identity Manager
- D. Authorization Policy Manager
Answer: C
Explanation:
Authorization Policy Manager (APM)
APM greatly simplifies the creation, configuration, and administration of application policies APM does not support the management of users and external roles; these artifacts can only be viewed with the tool. Their provision and management is typically accomplished using Oracle Identity Manager Oracle Identity Manager (OIM) In regard to enterprise users and external roles, Authorization Policy Manager provides viewing and searching functionality only. To manage users and external roles, use Oracle Identity Manager or some other identity management tool.
OIM provision users, roles, and defines what a user can do in Oracle Cloud Duty Roles are mapped to jobs and assigned access privileges (Data Security)
NEW QUESTION # 44
You are now the project manager of a newly created implementation project. Which two items are not part of managing an implementation project?
- A. Assign tasks to various users who are responsible for managing setup data.
- B. Enable optional functional areas and features by opting in.
- C. Monitor the progress of completing setup tasks.
- D. Generate a list of setup tasks.
- E. Select the offering you want to implement.
Answer: A,D
NEW QUESTION # 45
A project administrator is trying to assign a team member for a project but cannot find the person in the team member list on the Project Definition page. What is the reason for this problem? (Choose the best answer.)
- A. The employee is not assigned to a department.
- B. The employee is not assigned to the project-owning organization.
- C. The employee is not assigned with a supervisor.
- D. Project roles are not assigned in the project.
Answer: A
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-foundation-configuration-define-project-resource-breakdown-structures.html#OAPFM180158_2 Why can't I find persons in the list of resources when I enter team members, planning resources, or person rate schedules?
You can't find persons in the list of resources when you enter team members, planning resources, or person rate schedules in the following situations:
The administrator didn't assign a department while creating users. Persons must have an active assignment and be assigned to a department in Oracle Fusion Human Capital Management before they can be added as team members or entered as resources on the planning resource breakdown structure or person rate schedule.
The resource isn't active in Oracle Fusion Human Capital Management because the current date is before the effective date of the resource. If you want to include persons who will start in the future, select the Include people with future-dated effective start dates option when you search for the person.
Persons assigned as project managers aren't active as of the project start date.
The assignment of the person is terminated, and an appropriate value isn't set for the number of days to display people with terminated assignments. You can set the profile value appropriately at the site profile level using the Specify Number of Days to Display People with Terminated Assignments task in the Setup and Maintenance work area.
NEW QUESTION # 46
Which three Cost Collection Flexfield core attributes can be derived during import if not explicitly entered in a transaction document? (Choose three.)
- A. Capitalizable Flag
- B. Billable Flag
- C. Funding Source
- D. Work Type
- E. Expenditure Type
Answer: A,C,D
NEW QUESTION # 47
Which two are the workflows in Project Financial Management? (Choose two.)
- A. Expenditure Item Adjustment
- B. Asset Line Generation
- C. Capital Interest Calculation
- D. Burden Cost Recalculation
- E. Project Status Change
Answer: A,E
Explanation:
The workflows in Project Financial Management are business processes that automate the approval and notification tasks for various project transactions and events. Two of the workflows in Project Financial Management are:
Project Status Change: This workflow manages the approval and notification tasks for changing the status of a project or task from one value to another. For example, when a project or task is submitted for approval, this workflow routes the request to the appropriate approvers and notifies them of the action required.
Expenditure Item Adjustment: This workflow manages the approval and notification tasks for adjusting expenditure items that have been charged to a project or task. For example, when an expenditure item is adjusted by a project manager or a cost accountant, this workflow routes the adjustment to the appropriate approvers and notifies them of the action required. Capital Interest Calculation, Burden Cost Recalculation, and Asset Line Generation are not workflows in Project Financial Management, but processes that perform various calculations and transactions for project costs and assets. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-financial-management.html#OAPFM2356161
NEW QUESTION # 48
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The Oracle 1z0-1057-22 exam is designed to assess the candidate's ability to apply project management principles, techniques, tools, and methodologies to manage projects effectively. It is an essential certification for professionals who work in project management roles and are looking to enhance their skills and knowledge to meet the demands of the industry.
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