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  1. Home
  2. Oracle Certification
  3. 1z0-1058-23 Exam
  4. Oracle.1z0-1058-23.v2024-05-26.q27 Dumps
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Question 1

The control manager needs to associate an existing test plan to an additional assessment type, Audit Test. The existing test plan is associated only with the Design Review assessment type.
How can this be accomplished?

Correct Answer: B
* In the Controls page, open the record of the control in either view-only or edit mode.
* Click the control's name, or select the record and choose the Edit option.
* In the record of the control, navigate to the Test Plans tab.
* A page displays a panel for each of the control assessment activities your organization has activated.
* Expand any panel to view the assessment plan for its activity.
* Define or modify a plan for an activity.
* If in edit mode, click the Create or Edit button (labeled with a pencil icon) in the panel for that activity.
* If in view-only mode, first select Actions > Edit Definition, then select the Create or Edit button for an activity.
* Update the test plan to include both Audit Test and Design Review as assessment types.
References:
* Oracle documentation on adding details and steps to a test plan1.
* Oracle documentation on creating or editing a test plan2.
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Question 2

When running Synchronize Transaction from the Data Sources page of Application Configurations, which statement is true when you have two models using invoice and payment business objects?

Correct Answer: C
* When you synchronize transaction data, the system uploads new and modified records from your Oracle Cloud data source for the business objects used by all current transaction models and controls1.
* The synchronization job updates all business objects used by all current transaction models and controls, and it does so based on the transactions dated after the Transaction Created As of Date1.
* This ensures that the transaction models (and controls) evaluate current data, which is crucial for maintaining the accuracy and relevance of the controls1.
References:
* For more information on the synchronization process and its impact on transaction models, you can refer to the Oracle documentation on Synchronizing Transaction Data1.
* Additional details regarding the scheduling and running of data synchronization jobs can be found in the Oracle documentation on Scheduling or Running Data Synchronization2.
* The Oracle Fusion Cloud Risk Management 23D What's New document provides insights into the necessity of running the Transaction Data Source Synchronization job when there are new attributes or attribute changes in business objects3.
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Question 3

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

Correct Answer: D
To add values to a Risk Type list of values, you need to add the lookup codes to the GRCM_RISK_TYPE Lookup Type. Here's how you can do it:
* Navigate to the Lookups page in the Setup and Administration work area.
* Click on Create Lookup to open the Create Lookup page.
* In the Lookup Type field, enter GRCM_RISK_TYPE.
* Enter a code in the Lookup Code field. The code should consist of 30 or fewer characters, use upper-case for alphabetic characters, and underscores to fill the space between words.
* In the Meaning field, enter the text that will be presented in the list of values.
* Ensure that the combination of lookup code and meaning is unique.
* In the Status field, select Active to make the new value available for use.
References:
* Manage Lookups documentation from Oracle1.
* Risk Management User Guide2.
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Question 4

You are implementing Advanced Financial Controls and you want to identify suspect transactions where the payment amount is less than $20 USD. However, you only want the results returned to be temporary.
What will you build in order to accomplish your objective?

Correct Answer: C
In Oracle Risk Management, a transaction model includes filters that define aspects of risk, then select transactions exhibiting the defined risk. These models, known as "transaction models" in Oracle Advanced Financial Controls, return temporary results. The suspect records identified by a model are replaced each time the model is evaluated. This feature is particularly useful for testing a risk-logic definition before applying it in a control or for auditors assessing the risk inherent in a system at a given moment.
References:
* Overview of Oracle Advanced Controls1.
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Question 5

You are working with the customer to gather Risk-Control data for the data import process. The customer has information in multiple formats. Which format should be used for importing the data?

Correct Answer: D
For importing Risk-Control data into Oracle Risk Management, the .xml format should be used. This is because:
* The .xml format is structured and allows for the definition of custom tags, making it suitable for complex data interchange.
* Oracle documentation specifies that when finishing entering data into the import template, it should be saved in the .xml file format1.
References:The information is based on Oracle's official documentation regarding the import template data requirements, which outlines the necessary steps and preferred formats for data import into the Risk Management system1.
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