Pass Your Project Financials Management Cloud 1z0-1057-22 Exam on Jan 07, 2024 with 128 Questions
1z0-1057-22 Free Exam Study Guide! (Updated 128 Questions)
Oracle 1z0-1057-22 exam is a comprehensive exam that covers all aspects of Oracle Project Management Cloud 2022 Implementation. 1z0-1057-22 exam consists of 60 questions that need to be answered within 105 minutes. 1z0-1057-22 exam questions are designed to test the candidate's knowledge and skills in implementing Oracle Project Management Cloud solutions. 1z0-1057-22 exam is available in multiple languages, including English, Japanese, Simplified Chinese, and Korean.
Oracle 1z0-1057-22 exam is intended for professionals who have experience with Oracle Project Management Cloud solutions and are looking to enhance their expertise in this area. Oracle Project Management Cloud 2022 Implementation Professional certification is ideal for project managers, implementation consultants, functional consultants, and other professionals who work with Oracle Project Management Cloud on a daily basis.
NEW QUESTION # 35
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. Select the offering you want to implement.
- C. Enable optional functional areas and features by opting in.
- D. Generate a list of setup tasks.
- E. Monitor the progress of completing setup tasks.
Answer: B,C
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 # 36
Which precedence order is used by the system for labor schedules to distribute payroll cost?
- A. Assignment Element > Element > Assignment
- B. Assignment > Assignment Element > Element
- C. Assignment > Element > Assignment Element
- D. Element > Assignment Element > Assignment
Answer: B
Explanation:
The precedence order that is used by the system for labor schedules to distribute payroll cost is Assignment > Assignment Element > Element. This means that the system first looks for a labor schedule that is assigned to the employee assignment, then for a labor schedule that is assigned to the payroll element of the employee assignment, and finally for a labor schedule that is assigned to the payroll element itself. The system uses the first labor schedule that it finds in this order to distribute the payroll cost to projects and tasks based on the hours and rates defined in the schedule. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356121
NEW QUESTION # 37
Your customer has different accounting and project accounting periods, and sometimes enters invoices with an invoice date in the open project accounting and closed accounting periods. Which two statements are true about how project accounting and accounting dates will be populated in such invoices? (Choose two.)
- A. Accounting date is the same as the original invoice date.
- B. Accounting date is the first day of the first open accounting period.
- C. Project accounting date is the first day of the first open project accounting period.
- D. Project accounting date is the last day of the open project accounting period.
- E. Project accounting date is the same as the original invoice date.
Answer: A,C
Explanation:
When an invoice is entered with an invoice date in the open project accounting and closed accounting periods, the accounting date is the same as the original invoice date, but the project accounting date is the first day of the first open project accounting period. This ensures that the invoice is accounted in the correct accounting period and recognized in the correct project accounting period. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-invoices.html#OAPFM2355911
NEW QUESTION # 38
Which precedence order is used by the system for labor schedules to distribute payroll cost?
- A. Assignment > Element > Assignment Element
- B. Assignment > Assignment Element > Element
- C. Element > Assignment Element > Assignment
- D. Assignment Element > Element > Assignment
Answer: D
NEW QUESTION # 39
Which product offering enables you to collaboratively plan and deliver projects by leveraging intuitive and integrated scheduling tools?
- A. Project Management
- B. Resource Management
- C. Project Control
- D. Project Costing
Answer: A
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 # 40
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 project accountant is not assigned to the external role that grants access to the China business unit.
- B. The US and UK business units are linked to different ledgers than the China business unit.
- C. The JOB role relevant to the China business unit is not assigned to the project accountant.
- D. The China business unit is associated with a different legal entity than the US and UK business units.
Answer: A
NEW QUESTION # 41
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 Administrator
- B. Project Integration Specialist
- C. Project Application Administrator
- D. Project Executive
Answer: A
NEW QUESTION # 42
Which three are part of using the Rapid Implementation for Project Financial Management Applications macro-enabled Microsoft Excel spreadsheet to enter setup data?
- A. Generate CSV files.
- B. Prepare setup data.
- C. File Import and Export.
- D. Import Projects.
- E. Upload setup data.
Answer: A,B,E
Explanation:
https://docs.oracle.com/applications/farel12/projectop_gs/OAPFM/OAPFM2264569.htm#OAPFM2159921 Configuring Rapid Implementation: Procedure Project application administrators can use the rapid implementation feature to set up the Project Financial Management offering. Use the Rapid Implementation for Project Financial Management Applications macro-enabled Microsoft Excel spreadsheet to enter setup data and generate the ProjectsWorkbook.zip. Upload this .zip file to the Setup and Maintenance work area. When the upload completes, the offering is configured based on the setup information that you provide.
Perform the following steps to configure rapid implementation for the Project Financial Management offering:
Prepare setup data.
Generate CSV files.
Upload setup data.
Correct errors, if any, and reload the data.
NEW QUESTION # 43
Which two are the workflows in Project Financial Management? (Choose two.)
- A. Asset Line Generation
- B. Capital Interest Calculation
- C. Expenditure Item Adjustment
- D. Burden Cost Recalculation
- E. Project Status Change
Answer: B,E
NEW QUESTION # 44
Your organization has a requirement to create and apply a new theme for the application user interface.
Which option allows you to achieve this requirement?
- A. Structure Page
- B. Appearance Page
- C. User Interface Text
- D. Setup and Maintenance Work Area
Answer: B
NEW QUESTION # 45
Your customer has separate organizations to maintain indirect, capital, and billing types of projects.
Identify the two setups that can be used to fulfill this requirement. (Choose two.)
- A. Project Organization Classification
- B. Project Type
- C. Project Accounting Business Function
- D. Business Unit
- E. Organization Tree
Answer: A,E
Explanation:
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/FAPFM/FAPFM1225328.htm
NEW QUESTION # 46
You are trying to create a custom infolet but are not able to find the "Create Infolet" option in the Infolet repository window. Which two steps should be completed before you can access the "Create Infolet" option?
- A. You should be on the Project Custom Objects page.
- B. You should enable the "Create Infolet" option from the Personalize Springboard page.
- C. You must be in an active sandbox.
- D. You must activate Page Composer.
Answer: C,D
Explanation:
Ref: https://docs.oracle.com/cd/E83857_01/saas/applications-common/18b/oaext/page-modification.html#OAEXT1640891
NEW QUESTION # 47
Which five steps are required for the File-Based Data Import Integration option?
- A. Install an Excel add-in.
- B. Download an Excel template.
- C. Run Process to transfer data to interface tables.
- D. Populate the spreadsheet with data and generate a CSV file.
- E. Import data into various applications.
- F. Upload the file to the server.
Answer: A,B,C,D,F
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oefpp/overview.html#External_Data_Integration_Services_for_Oracle_Cloud_Overview
NEW QUESTION # 48
As part of maintaining (importing new employees that were added last week) project enterprise labor resources in your organization, you submit the Maintain Project Enterprise Labor Resources process to create and update resources based on changes In HCM. You define maintenance conditions on the Manage Project Enterprise Labor Resource page to process both employees and contingent workers.
Which three are parameters that are based on which the system identifies the new resources?
- A. Organization
- B. Business Unit
- C. Jobs
- D. Project Unit
- E. Department
Answer: A,B,C
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/fapfm/implementing-project-execution-management-applications.html#FAPFM1718570 Topic - Manage Maintenance Conditions for Project Enterprise Labor Resource
NEW QUESTION # 49
You have projects and tasks defined with transaction controls, which does not allow certain types of charges to the project. Your business needs to create invoices in AP with this project every period and hence would like to make the process easier by creating a distribution set. As you create the distribution set, you notice that these distribution set lines are not validated against the project transaction controls and you are allowed to save it without any validation errors. Identify the reason why the project transaction controls are not applied. (Choose the best answer.)
- A. There is no expenditure type information available on the distribution set line.
- B. There is no expenditure organization information available on the distribution set line.
- C. There is no expenditure item date information available on the distribution set line.
- D. The account code combination is not available on the distribution set line.
Answer: C
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/18c/oapfm/project-costing-configuration-define-project-costing-integrations.html#OAPFM174886 How can I validate distribution sets for projects information?
Oracle Fusion Projects performs validations on Oracle Fusion Payables distribution sets for payables invoices at the time you create the actual distribution set lines. It validates the project and task number during the invoice validation.
Distribution sets are typically used on recurring transactions, and the associated project does not have transaction controls. When you create a distribution set in Oracle Fusion Payables, the distribution set line is not validated against the project transaction controls in Oracle Fusion Projects because you do not enter an expenditure item date, which is required for transaction control validation. The expenditure item date is not provided because you use the distribution sets for an indefinite period of time.
NEW QUESTION # 50
Your customer started operations and all projects in January 2015. They implemented Enterprise Project Structure for calculating project labor demand by using the Annual option. When they view the labor demand on 15-Dec-2015, the project hierarchy viewer shows data only for the year 2015. The client expected the demand to be shown for a year, from 15-Dec-2015 to 15-Dec-2016.
Identify how the project hierarchy viewer displays labor demand information. (Choose the best answer.)
- A. The current date is used for calculating labor demand for the current year.
- B. The project start date of Jan-2015 was used for calculating labor demand, and hence it calculated the demand for the year 2015.
- C. The date entered by a user as a parameter when running the Update EPS job was set to 01-Jan-2015, and hence the calculations show results for the year 2015.
- D. The current period start date is used for calculating labor demand for the current year.
Answer: A
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/analyze-project-management-performance.html#OAPEM1313471 Topic - Project Labor Demand: How It's Calculated Settings That Affect Project Labor Demand Project application administrators must do the following to set up how project labor demand is calculated:
Organize projects into hierarchical groups on the Manage Enterprise Project Structure page.
Change the quarterly FTE hours for the organization on the Define Project Management Implementation Options page, if different from 520 hours.
Note: You can choose to view labor demand annually instead of quarterly. The Project Hierarchy Viewer uses the current date to determine which year or quarter to display.
NEW QUESTION # 51
Identify two attributes for which you can enter budgets that will be considered for Budgetary Controls in Project Portfolio Management. (Choose two.)
- A. project
- B. project plan type
- C. expenditure item
- D. project classification
- E. resource
Answer: A,E
Explanation:
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPJF/OAPJF1121937.htm#OAPJF1121937
NEW QUESTION # 52
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 application role relevant to the China business unit is not assigned to the project accountant.
- B. The project accountant is not assigned to the external role that grants access to the China business unit.
- C. The US and UK business units are linked to different ledgers than the China business unit.
- D. The China business unit is associated with a different legal entity than the US and UK business units.
Answer: B
NEW QUESTION # 53
Your customer has different accounting and project accounting periods, and sometimes enters invoices with an invoice date in the open project accounting and closed accounting periods. Which two statements are true about how project accounting and accounting dates will be populated in such invoices? (Choose two.)
- A. Accounting date is the first day of the first open accounting period.
- B. Project accounting date is the same as the original invoice date.
- C. Project accounting date is the last day of the open project accounting period.
- D. Accounting date is the same as the original invoice date.
- E. Project accounting date is the first day of the first open project accounting period.
Answer: A,B
NEW QUESTION # 54
Which three features are part of Oracle Fusion Functional Setup Manager?
- A. guided task list for end-to-end setup requirements
- B. export and import services for setup data migration between environments
- C. updating an implementation project task list by changing the opt-in configuration to suit the latest requirements
- D. feature opt-in for a best fit configuration
- E. modifying an existing implementation project task list by selecting more functional areas when needed
Answer: A,B,D
Explanation:
https://docs.oracle.com/en/cloud/saas/applications-common/r13-update17d/oafsm/applications-cloud-using-functional-setup-manager.pdf Functional Setup Manager offers the following:
* Standardized application configuration and setup experience
* Feature opt-in for a best fit configuration
* Flexible processes for managing setup:
◦ Setup by functional areas for an adopt-as-you-go approach
◦ Implementation projects to manage setup
◦ Upload file to enter setup data in bulk
* Guided task list for end-to-end setup requirements
* Export and import services for setup data migration between environments
* Comprehensive reporting on setup data
NEW QUESTION # 55
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