1Z0-1058-23 Online Practice Questions and Answers

Which three risk assessment activity types are available in Financial Reporting Compliance? (Choose three.)

A. Design Review

B. Qualitative Analysis

C. Quantitative Analysis

D. Certify

E. Audit

F. Assess Risk

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

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

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

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

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

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

Your client has configured separate roles for control assessor and control assessment reviewer. The control assessor has submitted his or her assessment. The control assessor realizes later that he or she has forgotten to attach a critical

test evidence document to the assessment and needs to attach it now.

How can this be accomplished?

A. The assessor can request the reviewer to attach the document during the review.

B. On the Assessment tab in the Control definition, the assessor can select the assessment and click the Complete Assessment button. He or she can attach the document and resubmit the assessment.

C. The assessor can request the reviewer to reject the assessment. After the assessment is rejected, the assessor can then attach the document and resubmit the assessment.

D. On the Manage Assessments page, the assessor can select the assessment and click the Reopen button. He or she can then attach the document and resubmit the assessment.

An organization has a list of companies with which they no longer wish to do business. The list is not stored in their ERP Could but is stored in a file. Which transaction model will identify payments made to these companies?

A. Create an Imported business object that can be used in conjunction with Oracle's pre-built "Payment" object. One both objects are in your model, add this standard filter: the "Payment" object's "Remit to Supplier Name" is similar to the custom object's "Company Name" by 95%.

B. Add a configurable attribute "Company Name" to Oracle's pre-built "Payment" object. Then add this standard filter: "Remit to Supplier Name" equals "Company Name".

C. You cannot define this model because imported objects from a file cannot be used with delivered objects.

D. Create an Imported business object that can be used in conjunction with Oracle's pre-built "Payables Invoice" object. Once both objects are in your model, add this standard filter: the "Payables Invoice" object's "Supplier Name" equals the custom object's "Company Name".

You need to schedule the report "Access Violations by User." Which two steps do you take to create the saved parameters for the report schedule? (Choose two.)

A. Navigate to Administration Reports.

B. Highlight the report name and click Run Now.

C. Navigate to Scheduling under Setup and Administration.

D. Click Save Report Parameters to create saved settings.

E. Select Display Scheduled Reports.

Your client has three operating units.

What are two ways in which you can exclude an operating unit where there are not enough personnel to allow segregation of duties? (Choose two.)

A. In a model, create a new condition logic filter, select the operating unit attribute, select the operating unit value, and then perform an exclusion though the advanced options check box.

B. Navigate to the Create Access Global Condition page and create a new condition logic filter, select the operating unit attribute, select the operating unit value, and then perform an exclusion though the advanced options check box.

C. Navigate to the Create Access Global Condition page and create a new condition logic filter, select the within same operating unit attribute, select the value yes, and then perform your exclusion though the advanced options check box.

D. In a model, create a new condition logic filter, select the within same operating unit attribute, select the value yes, and then perform your exclusion though the advanced options check box.

E. In a model, create a new condition logic filter, select the operating unit attribute and select the operating unit value.

Which two options can be assigned to a duty role? (Choose two.)

A. Functional Security Policy

B. Abstract Role

C. Data Security Policy

D. Job Role

During implementation, you created a Financial Reporting Compliance superuser and assigned this user the following roles: Enterprise Risk and Control Manager IT Security Manager Employee

The superuser logs in to Financial Reporting Compliance but is not able to create new Data Security Policies. What is wrong?

A. The superuser's account is inactive and his or her account needs to be activated.

B. The application will not allow a user to both create users and assign them roles.

C. The superuser's account is created but the synchronization jobs have not been run.

D. The superuser's account is not yet approved by his or her supervisor in Financial Reporting Compliance.

You can relate objects in Financial Reporting Compliance. Which statement is true about editing or creating related objects in the Related Objects section on the Risk Definition page?

A. You can relate only process objects.

B. You can relate a new process and a new control.

C. You can relate only control objects.

D. You can relate only an existing control, but not a new control.

Your customer needs to conduct monthly Operational Effectiveness assessments for controls across two organizations (North America and EMEA). Your customer requires that assessment results for North America be accessible only to

users in North America and likewise for EMEA. Additionally, the Chief Risk Officer reviews the assessment results by Business Process every week.

How should you design perspectives to achieve this?

A. Use the Region hierarchy for security and the Business Process hierarchy for reporting of controls.

B. Use the Region hierarchy initially, and later use both Region and Business Process hierarchies for security.

C. Use both Region and Business Process hierarchies solely for reporting purposes.

D. Use the Business Process hierarchy for security and the Region hierarchy for reporting of controls.