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Oracle 1z0-1057-24 Oracle Project Management Cloud 2024 Implementation Professional Exam Practice Test

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Total 126 questions

Oracle Project Management Cloud 2024 Implementation Professional Questions and Answers

Question 1

You create a project schedule with a Shifts element. Identify two more elements that can be part of a project schedule. (Choose two.)

Options:

A.

Exceptions

B.

Accounting Calendar

C.

Workday Patterns

D.

Time Off

E.

Expenditure Type

Question 2

Which two statements are true about the cross-charge method, Borrowed and Lent?

Options:

A.

This method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations within a legal entity.

B.

Costs or revenue are shared based on transfer price rules with this method.

C.

You must set up the contract business unit to use this method.

D.

This method creates a formal internal invoice.

Question 3

You havedefined two expenditure types, but they are not available for selection when you enter an expenditure batch. Identify the reason for this problem. (Choose the best answer.)

Options:

A.

The two expenditure types are not assigned to the reference data set that is assigned to theproject unitin which the transaction is performed.

B.

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.

C.

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.

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.

Question 4

Your customer wants to perform billing based on the Percent Spent invoice method. Identify two setups that are required in project contracts for calculating invoice amounts as per their requirement. (Choose two.)

Options:

A.

billing events

B.

bill plan

C.

expenditure items

D.

billing controls

E.

invoice method

Question 5

You have closed the project accounting period with a warning, but you are unable to close the accounting period due to an error.

Identify two reasons for this problem. (Choose two.)

Options:

A.

The corresponding Oracle Payables Cloud accounting period has not been closed.

B.

Transactions entered in an integrated Oracle Cloud Application are accounted, but not yet transferred and imported into Oracle Project Portfolio Management Cloud.

C.

Pending burden summarization items have not been processed.

D.

Unaccounted transactions are not imported.

E.

Unaccounted transactions have not been swept to the next period.

Question 6

You are currently involved in the implementation of the Project Financial Management solution for your client organization. Your client organization has two main lines of business: Consulting and Support. Consulting Services and Support Services organizations have different project planning, management, analysis and reporting requirements for the projects that they manage, though the management reporting and transaction processing requirements are the same for both the organizations.

What will be your recommendation?

Options:

A.

Define One Business Unit and Two Project Units

B.

Define Two Business Units and Two Project Units

C.

Define One Business Unit and Three Project Units

D.

Define Two Business Units and One Project Unit

Question 7

While opening an organization tree on the Manage Organization Trees page, you notice that the hierarchy status is displayed as Inactive. Identify the two reasons for the organization tree to be in Inactive status. (Choose two.)

Options:

A.

You usedCreate Treein the action menu.

B.

You used Create Tree Version in the action menu.

C.

You used View Tree Version in the action menu.

D.

You selected theEdit iconfor opening the hierarchy.

E.

You opened the hierarchy by clicking the name.

Question 8

Your customer has a requirement to allow adjustment and reversals for transactions imported from an external expense entry system.

Which section on the Manage Project Transaction Sources page will allow you to enable these options?

Options:

A.

Documents

B.

Transaction Source

C.

Document Entries

D.

Transaction Entries

Question 9

Which data format is supported by SOAP Web services to establish communication between web services consumers and web services providers?

Options:

A.

CSV

B.

XML

C.

JSON

D.

XLSX

Question 10

Your organization has a requirement to send notifications to the owners of the associated tasks when the status of a deliverable is set to Complete. You have been asked to evaluate generate public events for project deliverable status changes feature to manage this requirement.

Which two statements are true about this feature? (Choose two.)

Options:

A.

The public event is not generated when the priority of a deliverable changes.

B.

The public event is not generated when a deliverable is created or deleted.

C.

The public event is generated when a deliverable is created or deleted.

D.

The public event is generated when the progress status for a deliverable changes.

Question 11

Whichfivesteps are required for the File-Based Data Import Integration option?

Options:

A.

Run Process to transfer data to interface tables.

B.

Install an Excel add-in.

C.

Upload the file to the server.

D.

Download an Excel template.

E.

Populate the spreadsheet with data and generate a CSV file.

F.

Import data into various applications.

G.

Validate the sheet using the Validate option.

Question 12

Which component provides a human workflow service that handles all interactions with users or groups in business processes?

Options:

A.

Security Console

B.

SOA Suite

C.

Subledger Accounting

D.

BPM Worklist

Question 13

You are managing a project based on a Waterfall model. You define a project and a project plan in Oracle Project 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.

Which two are correct statements in this scenario? (Choose two.)

Options:

A.

The association of a deliverable with a task is dependent on associating a requirement with a task.

B.

You associate a deliverable with a task independent of associating a requirement with a task.

C.

A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.

D.

A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.

Question 14

Which four notification templates are predefined?

Options:

A.

Password Reset Template

B.

New Account Template

C.

Forgot Password Template

D.

Forgot Username Template

E.

New Account Manager Template

Question 15

Which setup option is common to both financial and project plan types?

Options:

A.

Manage the options for creating control budgets in Oracle Fusion Budgetary Control.

B.

Enable the entry of plan amounts in currencies other than the project currency.

C.

Identify whether the plan type is the default selection when you create budget or forecast versions.

D.

Enable the use of a workflow for managing budget or forecasting status changes.

Question 16

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.)

Options:

A.

Create two contract lines with a line type each of “free-form, project-based buy agreement” and “bundle sell, 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 “product, project-based, sell agreement, standalone” and “sell intent, item, project-based”.

D.

Create two contract lines with a line type each of “sell intent, item, project-based’ and “subscription, project-based, sell”.

Question 17

You have four resources in your organization: P, Q, R, and S.

Resource P – Project or resource calendar is active.

Resource Q – Project resource request dates are within the project or resource calendar effective dates.

Resource R – Resource calendar is complex, it does not contain seven days, and it contains more than one pattern and shift.

Resource S – Number of working days within the requested date range is not zero on the project or resource calendar.

Identify the resource for whom Resource Availability Capacity Score will not be calculated. (Choose the best answer.)

Options:

A.

P

B.

Q

C.

R

D.

S

Question 18

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.)

Options:

A.

The current period start date is used for calculating labor demand for the current year.

B.

The current date is used for calculating labor demand for the current year.

C.

The project start date of Jan-2015 was used for calculating labor demand, and hence it calculated the demand for the year 2015.

D.

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.

Question 19

Your company uses an accounting calendar with periods that are identical to calendar months. A contract resource has been identified to work for six months on an accounting close cycle project. The resource is planned to start with 10 days left in the first period and to end 20 days into the last period. For the remaining periods, the resource must be loaded on all working days of the month. You are required to distribute the budget, forecast, and planning amounts across periods based on the task duration.

Which predefined spread curve must be used to meet this requirement? (Choose the best answer.)

Options:

A.

Daily Spread Basis

B.

Back Loaded

C.

Bell Curve

D.

S-Curve

E.

Even

Question 20

Identify two attributes for which you can enter budgets that will be considered for Budgetary Controls in Project Portfolio Management. (Choose two.)

Options:

A.

project

B.

expenditure item

C.

project classification

D.

project plan type

E.

resource

Question 21

Which three are project gate statuses? (Choose three.)

Options:

A.

Open

B.

In Review

C.

Closed

D.

Approve

E.

Draft

Question 22

A consulting services company is currently working on a business transformation project foryour client that spans over 10 months. The total contract amount is 250000 USD. They have generated a revenue of 25000 USD and an Invoice of 10000 USD at the end of the first period.

The accounting entry for revenue is:

Question # 22

and accounting entry for invoice is:

Question # 22

What will be the accounting entry when you reclassify the billing offset balances in the first period?

Options:

A.

Dr Deferred Revenue 10000 -

Cr Unbilled Receivables 10000

B.

Dr Accounts Receivables 10000 -

Cr Unbilled Receivables 10000

C.

Dr Unbilled Receivables 10000 -

Cr Accounts Receivables 10000

D.

Dr Accounts Receivables 10000 -

Cr Revenue 10000

Question 23

Whichthreesetups can be configured by using Rapid Implementation for Project Financial Management Applications?

Options:

A.

Expenditure Types

B.

Project Templates

C.

Work Type

D.

Project Types

E.

Project Class Categories

Question 24

Which two statements are true about the borrowed and lent cross charge method? (Choose two.)

Options:

A.

Internal Invoice is not generated with this method.

B.

This method allows you to process cross charge transactions across legal entities.

C.

This method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations

D.

You must set up a contract business unit to use this method.

Question 25

A consulting services company is currently working on a business transformation project for your client, which spans multiple years. At the first period close, the consulting services company has recognized revenue and the accounting entry created is:

Dr Unbilled Receivables 40,000

Cr Revenue 40,000

At the end of the period, the client is sent an associated bill. What would be the corresponding invoice accounting entry? (Choose the best answer.)

Options:

A.

Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000

B.

Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000

C.

Dr Accounts Receivables 40,000Cr Revenue 40,000

D.

Dr Unearned Revenue 40,000Cr Revenue 40,000

Question 26

Whichthreeare true of what you can do in the Project Requirements work area?

Options:

A.

Create an implementation project.

B.

Organizebacklogitems by requirements.

C.

Create an execution project.

D.

Create project tasks forbacklogitems.

E.

Manage your list ofbacklogitems.

Question 27

Which application would you use to map application roles to external roles? (Choose the best answer.)

Options:

A.

Oracle Identify Manager

B.

Authorization Policy Manager

C.

BPM Work List

D.

Security Console

Question 28

You have a small project for a period of five months. Your budget amount for each month is spread evenly and is $1000 per month. The first month actual expense is $800 and there is a commitment for $600. Now you generate a forecast at the beginning of the second month. Identify the monthly Estimate-To-Complete (ETC) amount that the application would calculate for the remaining four periods, when the ETC generation method includes commitments. (Choose the best answer.)

Options:

A.

1000

B.

900

C.

800

D.

600

Question 29

Your customer has a requirement to import and process third-party transactions that are “costed” and “accounted”.

Which configuration option needs to be set satisfy the requirement? (Choose the best answer.)

Options:

A.

Import Options

B.

Document Options

C.

Transaction Source Options

D.

Document Entry Options

Question 30

What are three configuration items that you need to set up by using the Project Organizations functional area in Project Financial Management configurations? (Choose three.)

Options:

A.

Manage Project Unit Organizations

B.

Mange Business Unit

C.

Manage Project Organization Classifications

D.

Mange Project Types

E.

Manage Project Unit Options

Question 31

Which three Cost Collection Flexfield core attributes can be derived during import if not explicitly entered in a transaction document? (Choose three.)

Options:

A.

Billable Flag

B.

Expenditure Type

C.

Capitalizable Flag

D.

Funding Source

E.

Work Type

Question 32

Which product offering enables you to collaboratively plan and deliver projects by leveraging intuitive and integrated scheduling tools?

Options:

A.

Resource Management

B.

Project Control

C.

Project Management

D.

Project Costing

Question 33

You have been asked to set up one active person, who is not a team member in the project, as a quality manager for each quality task created under projects. However, when you try to assign the quality manager as Task Manager, you cannot find the person's name in the list of values. What is the reason for this problem? (Choose the best answer.)

Options:

A.

The “Require Task Managers to be Project Team Members” profile option is set to No.

B.

The “Require Task Managers to be Project Team Members” profile option is set to Yes.

C.

The quality manager belongs to a department that is not associated with the project.

D.

The quality manager is not assigned with a supervisor.

Question 34

You recently made some changes to a project contract and the current status of the contract is Under Amendment. Identify the correct sequence of activities that can take place on that contract. (Choose the best answer.)

Options:

A.

On Hold > Pending Acceptance > Active

B.

On Hold > Pending Approval > Active

C.

Pending Approval > Pending Acceptance > Active

D.

Pending Acceptance > Pending Approval > Active

Question 35

Identify two correct role templates available on the Oracle Entitlement Server to generate roles for Project Organization Security. (Choose two.)

Options:

A.

Project Manager Template for Project Organization Security

B.

Project Administrator Template for Project Organization Security

C.

Project Creator Template for Project Organization Security

D.

Project Accountant Template for Project Organization Security

E.

Project Billing Specialist Template for Project Organization Security

Question 36

You are implementing Project Portfolio Management for a global professional services organization. In their Consulting Services line of business, it is common to use resources from different business units based on the skills required. Therefore, cross-charge transactions happen between business units within the same legal entity.Transfer price calculations need to be based on raw costs, with no further adjustments to transfer price.

Identify two setups that can drive this borrowed and lent agreement. (Choose two.)

Options:

A.

Transfer price basis must beRaw Costand calculation method must beBasis Only.

B.

Transfer price basis must be Burdened Cost, and calculation method must be Burden Rate Schedule.

C.

A document entry such asstraight time must be enabledfor cross-charge transactions.

D.

Transfer price basis must be Raw Cost and calculation method must be Rate Schedule.

Question 37

Which precedence order is used by the system for labor schedules to distribute payroll cost?

Options:

A.

Element > Assignment Element > Assignment

B.

Assignment > Assignment Element > Element

C.

Assignment > Element > Assignment Element

D.

Assignment Element > Element > Assignment

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Total 126 questions