Give Push to your Success with Project Financials Management Cloud 1z0-1057-22 Exam Questions [Q58-Q81]

Give Push to your Success with Project Financials Management Cloud 1z0-1057-22 Exam Questions

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Oracle 1z0-1057-22 exam is intended for professionals who have experience in project management and are looking to enhance their skills in managing projects using Oracle Project Management Cloud 2022. Candidates who pass 1z0-1057-22 exam can work as Project Managers, Project Coordinators, or Project Administrators. They can also work in various industries such as construction, IT, healthcare, and finance.

Oracle 1z0-1057-22 exam measures a candidate's knowledge of the Oracle Project Management Cloud 2022 implementation process. 1z0-1057-22 exam covers various topics such as project planning, execution, monitoring, and controlling. It also tests the candidate's ability to configure and use the Oracle Project Management Cloud 2022 application. Passing 1z0-1057-22 exam requires a deep understanding of project management concepts and hands-on experience with Oracle Project Management Cloud 2022.

Oracle 1z0-1057-22 certification exam covers a wide range of topics related to project management, including project planning and execution, resource management, cost management, and risk management. 1z0-1057-22 exam also covers project reporting and analytics, collaboration and team management, and project portfolio management. 1z0-1057-22 exam is designed to test the candidate's understanding of project management best practices and their ability to apply them in the Oracle Cloud environment.

 

NEW QUESTION # 58
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. (Choose the best answer.)

• A. Person Type
• B. attributes that the project enterprise resources are assigned after creation
• C. Pool Membership
• D. Jobs

Answer: A

Explanation:
Reference https://docs.oracle.com/cloud/farel8/projectcs_gs/OAPEX/F1082603AN23E61.htm Manage Project Enterprise Labor Resource Maintenance Conditions Project Enterprise Labor Resources: How They Are Automatically Created and Maintained Run the Maintain Project Enterprise Labor Resources process to create resources, remove resource availability for staffing, and maintain the resource search index.
Settings That Affect the Maintain Project Enterprise Labor Resources Process Create and maintain project enterprise labor resources by defining a set of conditions that specify the employees and contingent workers in Oracle Fusion Human Capital Management (HCM) to create as resources in Oracle Fusion Project Portfolio Management. Define the resource attribute values, such as the resource calendar and primary project role, to assign to the new resources.
The following table lists the criteria that you define for selecting HCM persons to create as project enterprise labor resources.
Selection Criteria
Description
Person type
Select the HCM person type for the process to use as criteria when selecting HCM persons to create as resources. Available person types are employees, contingent workers, or both employees and contingent workers.
Option to select people based on job
Select this option for the process to create resources for HCM persons with specific jobs.
Caution If you do not select job criteria for this condition, the process will create resources for all eligible people based only on the person type.
Jobs
If you selected the option to select people based on job, then select the jobs for the process to use as HCM person selection criteria.
The following table lists the attributes for which you specify values to assign to resources that are created for the condition.
Resource Attribute
Description
Option to manage resource availability and staffing
Select this option for resource managers to manage the availability and project staffing of resources who are created based on the condition. Resources who are managed in Oracle Fusion Project Resource Management are eligible to fulfill project resource requests.
Calendar
Select the resource calendar for resources that are created based on the condition. The resource calendar defines the work schedule for project enterprise labor resources, and includes working days and hours and any exceptions, such as holidays.
Primary project role
Select the primary project role for resources that are created based on the condition. Project roles are maintained in Oracle Fusion Project Management.
Cost rate and currency
Enter the cost rate and currency for resources that are created based on the condition.
Bill rate and currency
Enter the bill rate and currency for resources that are created based on the condition.

NEW QUESTION # 59
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.)

• A. You selected the Edit icon for opening the hierarchy.
• B. You opened the hierarchy by clicking the name.
• C. You used Create Tree in the action menu.
• D. You used View Tree Version in the action menu.
• E. You used Create Tree Version in the action menu.

Answer: A,C

NEW QUESTION # 60
Identify three correct statements about project types. (Choose three.)

• A. Classifications can be assigned at project type.
• B. Summarization options can be specified at project type.
• C. Project type can be used as a source in subledger accounting.
• D. Project type can be associated with multiple project units.
• E. Project type can be enabled for both billing and capitalization.

Answer: B,C,D

Explanation:
Project type is a classification that defines the common attributes and processing options for projects. Some of the correct statements about project type are:
Project type can be used as a source in subledger accounting. This allows you to create accounting rules based on the project type attribute.
Summarization options can be specified at project type. This allows you to control how the project transactions are summarized for reporting and performance purposes.
Project type can be associated with multiple project units. This allows you to share the same project type across different business units or organizations. Project type cannot be enabled for both billing and capitalization, as these are mutually exclusive options. Classifications cannot be assigned at project type, but at project or task level. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/set-up-project-financial-management.html#OAPFM2355971

NEW QUESTION # 61
Which two attributes are available while enabling a task as a business object for social networking?

• A. Project Number
• B. Task Number
• C. Creation Date
• D. Project
• E. Task

Answer: D,E

Explanation:
To enable a task as a business object for social networking, you need to select the task and the project attributes. These attributes allow you to identify the task and the project it belongs to, and to view the social conversations related to them. Task number and creation date are not available as attributes for social networking. Project number is available, but it is not required to enable a task as a business object. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-tasks.html#OAPFM2355891

NEW QUESTION # 62
Which three are project gate statuses? (Choose three.)

• A. Approve
• B. Closed
• C. Open
• D. In Review
• E. Draft

Answer: A,B,C

NEW QUESTION # 63
You configure one OTBI using Project Cross Subject Area Analysis Real Time. You notice that all measures (Budget, Forecast, Cost, Commitments, Revenue, and Invoice) are not available for Bill-To-Customer and Contract and Contract Line dimensions. Identify the reason for this behavior. (Choose the best answer.)

• A. The Bill-To-Customer dimension does not apply to Invoice measures, but the Contract and Contract Line dimensions apply only to Revenue and Invoice measures.
• B. The Bill-To-Customer dimension applies only to Invoice measures, but the Contract and Contract Line dimensions do not apply to Revenue and Invoice measures.
• C. The Bill-To-Customer dimension applies to Invoice measures, and the Contract and Contract Line dimensions apply to Revenue and Invoice measures.
• D. The Bill-To-Customer dimension applies only to Revenue and Invoice measures.
• E. The Contract and Contract Line dimensions apply only to Invoice measures.

Answer: C

Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/faopm/subjectareas.html#Projects__Cross_Subject_Area_Analysis__Real_Time_SA_20 Analyze real-time information on project performance, including budgets, forecasts, costs, commitments, revenue, and invoices.
This subject area analysis allows cross subject area analysis between Funding, Invoices, Revenue, Budget, forecasts, Costs areas.

NEW QUESTION # 64
In your customer site, the capitalized interest calculation is implemented on their project types. Which option represents the costs considered in the interest calculation? (Choose the best answer.)

• A. common costs on the project/task
• B. expenditure type exclusions on the Capitalized Interest rate name
• C. expenditure items whose costs are applied to a single asset or multiple assets
• D. expenditure items whose cost spreads across multiple assets that are capitalized
• E. expenditure type exclusions on the Capitalized Interest rate schedules

Answer: C

Explanation:
Reference https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_988B43C997365159E040D30A68813832
https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49622/F1125377AN61D92.htm

NEW QUESTION # 65
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.)

• A. A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.
• B. You associate a deliverable with a task independent of associating a requirement with a task.
• C. The association of a deliverable with a task is dependent on associating a requirement with a task.
• D. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.

Answer: B,D

Explanation:
According to Oracle sources1, the inheritance between requirements, tasks, and deliverables works as follows:
You can associate a deliverable with a task independent of associating a requirement with a task. You can also associate a deliverable with a requirement independent of associating a task with a requirement1.
A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement. You must manually associate the deliverable with the tasks that produce it1.
Therefore, the correct answer is B and D.
1: Can deliverables for projects and tasks be inherited from associated requirements? - docs.oracle.com (index 1) In Oracle Project Management, you can define requirements, tasks, and deliverables for your project based on your project methodology and lifecycle. Requirements are statements of needs or expectations that must be met by the project outcome. Tasks are units of work that must be performed to complete the project. Deliverables are products or services that are produced or provided as part of a task or requirement. Two correct statements about how the inheritance between requirements, tasks, and deliverables works are:
You associate a deliverable with a task independent of associating a requirement with a task. This means that you can create a deliverable for a task regardless of whether the task is linked to a requirement or not.
A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement. This means that you have to manually associate a deliverable with a task even if both the deliverable and the task are linked to the same requirement.

NEW QUESTION # 66
Your customer wants a project start date to cascade to the project tasks but does not want the finish date to be cascaded. Identify the default setup in a project template that can be used to enable this. (Choose the best answer.)

• A. Do not cascade date changes.
• B. Cascade change to the finish date.
• C. Cascade change to the start date and the finish date.
• D. Cascade change to the start date.

Answer: D

Explanation:
Reference https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-control-configuration-manage-financial-and-project-plan-types.html#OAPFM79055 Topic - Project Date Cascade Options Use the Cascade option choice list to determine whether your changes to project dates cascade to tasks.
Use the Basic Information region on the Edit Project Template page to select one of the following options:
Do not cascade project date changes to tasks: Both start and finish dates are editable. However, you must ensure the following:
The project start date is not later than the earliest task date.
The project finish date is not earlier than the latest task date.
Cascade project start date change to affected tasks: You can edit only the project start date.
Cascade project finish date change to affected tasks: You can edit only the project finish date.
Do not cascade project date changes to tasks is the default value. You must select the cascade option each time you change the project dates, as your selection isn't saved for future date changes.
If you select to roll up planned dates for tasks or are using an external application for scheduling, then you can't modify the project start or finish dates.

NEW QUESTION # 67
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-owning organization in which the transaction is performed.
• B. 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.
• 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 project unit in which the transaction is performed.

Answer: B

NEW QUESTION # 68
Which two attributes are available while enabling a task as a business object for social networking?

• A. Project Number
• B. Creation Date
• C. Project
• D. Task
• E. Task Number

Answer: A,E

NEW QUESTION # 69
Your organization has created an Enterprise Project Structure (EPS) and your executives review the overall project labor demand by using the EPS. Identify two correct statements about the periodic project labor demand. (Choose two.)

• A. Labor Demand FTE is calculated as Monthly Allocation hours divided by Monthly FTE hours, if a period is used as the basis for viewing labor demand.
• B. Labor Demand FTE is calculated as Quarterly Allocation hours divided by Quarterly FTE hours, if a quarter is used as the basis for viewing labor demand.
• C. Labor Demand FTE is calculated as Yearly Allocation hours divided by Yearly FTE hours, if a year is used as the basis for viewing labor demand.
• D. Labor Demand FTE is calculated as Project Allocation hours divided by Project FTE hours, if project duration is used as the basis for viewing labor demand.

Answer: B,C

Explanation:
Reference https://docs.oracle.com/cloud/farel10/projectcs_gs/OAPEM/OAPEM1461017.htm#OAPEM1313472 Project Labor Demand: How It's Calculated Project executives want to track the labor demand in projects in their organization. The Project Hierarchy Viewer provides project executives a hierarchical view of the enterprise project structure (EPS) along with the labor demand in terms of full-time equivalent (FTE).
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.
How Project Labor Demand Is Calculated
The Project Hierarchy Viewer calculates project labor demand in the following manner:
Spreads the allocation hours from the Manage Project Resources page evenly over the days that the resources are allocated to the project.
Divides the quarterly project allocation hours by the quarterly FTE hours to get the labor demand.
Rolls up the quarterly and annual labor demand up the hierarchy.

NEW QUESTION # 70
Using Oracle Time and Labor, your client wants to put in a validation process that allows only a certain number of maximum hours an employee can charge in a day, and a minimum of hours he or she can report in a week.
What feature would you use to meet this requirement? (Choose the best answer.)

• A. project time validation rules
• B. time audit rules
• C. time calculation rules
• D. time entry rules

Answer: D

NEW QUESTION # 71
Your customer wants additional project information for detailed account balance maintenance, reconciliation, and reporting. Identify the configuration in subledger accounting that can be set up to fulfill this requirement. (Choose the best answer.)

• A. Supporting Reference
• B. Accounting Rule
• C. Accounting Method
• D. Journal Rules
• E. Mapping Sets

Answer: A

Explanation:
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125357.htm#OAPFM1125357 Assignment of Supporting Reference Supporting references may be used to capture transaction values on journal entry lines. A supporting reference can be used on a journal entry rule set only if it's assigned a source from the event class of the journal entry rule set.
Creating Supporting Reference: Explained
Supporting references are used to store additional source information about a subledger journal entry at the line level.
Supporting references with balances establish subledger balances for a particular source and account for a particular combination of supporting references plus the account combination.
For example:
If a journal line contains a supporting reference that includes two sources, Customer Type and Customer Name.
Balances are created for the account combination, plus customer name and customer type.
Examples of how you may want to use supporting reference balances are to:
Facilitate reconciliation back to the subledgers and source systems by tagging journal entries with transaction and reference attributes.
Create balances by dimensions not captured in the chart of accounts.
Reporting using dimensions not captured in the chart of accounts.
Enrich Oracle Fusion Business Intelligence Applications reporting on subledger journals.
Profit and loss balances by dimensions not captured in the chart of accounts Define supporting references to hold additional supporting information for detailed account balance maintenance or reconciliation and reporting requirements.

NEW QUESTION # 72
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.)

• A. A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.
• B. The association of a deliverable with a task is dependent on associating a requirement with a task.
• C. You associate a deliverable with a task independent of associating a requirement with a task.
• D. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.

Answer: B,D

NEW QUESTION # 73
Which three are valid password complexity criteria while setting up password policies? (Choose three.)

• A. Very Complex: At least 8 characters, 1 uppercase, 1 number, and 1 special character
• B. Very Complex: At least 6 characters, 1 uppercase, 1 number, and 1 special character
• C. Complex: At least 8 characters, 1 uppercase, and 1 number
• D. Simple: At least 8 characters and 1 number
• E. Very Complex: At least 8 characters, 1 uppercase, 1 number, and 2 special characters

Answer: A,C,E

Explanation:
Password complexity criteria are criteria that determine how strong or secure a password must be for a user account. Password complexity criteria can include requirements such as minimum length, uppercase letters, lowercase letters, numbers, special characters, etc. Three of the valid password complexity criteria while setting up password policies are:
Complex: At least 8 characters, 1 uppercase, and 1 number
Very Complex: At least 8 characters, 1 uppercase, 1 number, and 2 special characters Very Complex: At least 8 characters, 1 uppercase, 1 number, and 1 special character Simple: At least 8 characters and 1 number is not a valid password complexity criterion while setting up password policies, as this criterion does not meet the minimum security standards for Oracle Cloud applications. Very Complex: At least 6 characters, 1 uppercase, 1 number, and 1 special character is also not a valid password complexity criterion while setting up password policies, as this criterion does not meet the minimum length requirement of 8 characters for Oracle Cloud applications. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/set-up-project-financial-management.html#OAPFM2356271

NEW QUESTION # 74
Identify the three contract attributes from Project Performance Data that are used in Project Performance dashboard regions. (Choose three.)

• A. Expenditure Type
• B. Contract Header
• C. Projects
• D. Task
• E. Contract Line

Answer: C,D,E

Explanation:
Reference https://docs.oracle.com/cloud/farel9/projectcs_gs/FAUAR/F1537947AN10251.htm

NEW QUESTION # 75
Your customer complains that their project resources do not report their time promptly, which has resulted in incorrect reporting of project performance. What should you do to fix this problem? (Choose the best answer.)

• A. Enable track missing time at project type.
• B. Enable track missing time at project template.
• C. Enable track missing time at project unit.
• D. Enable track missing time at business unit.

Answer: C

Explanation:
To fix the problem of project resources not reporting their time promptly, you should enable track missing time at project unit. This option allows you to track and report on missing time entries for project resources based on their work assignments and schedules. You can also set up notifications and reminders to prompt resources to enter their time on a regular basis. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-time-and-labor.html#OAPFM2356011

NEW QUESTION # 76
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.)

• A. Dr Unearned Revenue 40,000Cr Revenue 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 Accounts Receivables 40,000

Answer: B

Explanation:
When the invoice is created, the unbilled receivables balance is reduced and the accounts receivables balance is increased by the invoice amount. This is because the revenue has already been recognized and the invoice is just a request for payment from the customer. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/project-accounting.html#OAPFM2355710

NEW QUESTION # 77
Your administrator creates maintenance conditions on the Maintain Project Enterprise Labor Resources page. An HCM person is included in a condition with a process order value of 1 and, additionally, there are three other conditions, all with a process order value of 10. Identify two correct statements about the Maintain Project Enterprise Labor Resources process as it relates to process order values. (Choose two.)

• A. The process creates a resource by using the condition with a process order value of 1 but does not create more than one resource for the same person even if subsequent conditions apply to the person.
• B. For the three conditions that have the same process order value of 10, the records are processed in ascending alphabetic order based on the condition name.
• C. For the three conditions that have the same process order value of 10, the records are processed in ascending numeric order based on the condition name.
• D. The process creates a resource by using the conditions with a process order value of 10 but does not create more than one resource for the same person even if subsequent conditions apply to the person.

Answer: A,B

Explanation:
Reference:
Topic - FAQs for Define Project Enterprise Labor Resources
What's the processing order of project enterprise labor resource maintenance conditions?
Records are processed by the Maintain Project Enterprise Labor Resources process in ascending order based on the process order value that you specify on the Create Condition page. For example, assume that an HCM person is included in a condition with a process order value of 1. If a resource doesn't already exist for that person, then the process creates a resource for the condition with the process order value of 1. The process doesn't create more than one resource for the same person even if subsequent conditions apply to the person.
If multiple conditions have the same process order value, then records are processed in ascending alphabetic order based on the condition name.

NEW QUESTION # 78
Where is the Allow Override option for the Default Capitalized Interest Rate Schedule specified?

• A. Manage Capitalized Interest Rate Schedules page
• B. Manage Project Type page
• C. Manage Capitalized Interest Rates page
• D. Manage Expenditure Type page
• E. Manage Project Plan Type page

Answer: B

Explanation:
The Allow Override option for the Default Capitalized Interest Rate Schedule is specified on the Manage Project Type page. This option allows you to override the default capitalized interest rate schedule for a project or task that uses the project type. The default capitalized interest rate schedule is used to calculate the capitalized interest amount for a project or task based on the interest rates and dates defined in the schedule. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356031

NEW QUESTION # 79
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 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 # 80
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 Integration Specialist
• B. Project Application Administrator
• C. Project Administrator
• D. Project Executive

Answer: C

NEW QUESTION # 81
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