1Z0-1056-24 exam dumps

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  • Exam Code: 1Z0-1056-24
  • Exam Name: Oracle Financials Cloud: Receivables 2024 Implementation Professional
  • No. of Questions: 144 Questions and Answers
  • Updated: Oct 18, 2026

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Walking into the 1Z0-1056-24 exam without ever sitting a timed mock test is an unnecessary risk. The Actual4Labs test engines recreate real exam conditions for the Oracle Financials Cloud: Receivables 2024 Implementation Professional, so pacing and pressure feel familiar long before the real thing.

Oracle 1Z0-1056-24 Exam Overview:

Certification Vendor:Oracle
Exam Name:Oracle Financials Cloud: Receivables 2024 Implementation Professional
Exam Number:1Z0-1056-24
Passing Score:68%
Exam Duration:90 minutes
Available Languages:English
Real Exam Qty:50
Related Certifications:Oracle Fusion Cloud Financials: Receivables and Collections Certified Implementation Professional
Exam Price:$245 USD
Certificate Validity Period:Oracle Cloud certifications are typically valid for 18 months
Exam Format:Hands-on Performance Based, Multiple Choice
Sample Questions: DOWNLOAD DEMO
Exam Way:Online proctored or test center delivery
Pre Condition:Oracle recommends implementation experience with Oracle Fusion Cloud Financials Receivables
Official Syllabus URL:https://education.oracle.com/

Oracle 1Z0-1056-24 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Period Close and Reporting25%- Receivables Accounting and Reporting
  • 1. Run Receivables Reports
  • 2. Review Accounting Entries
  • 3. Period Close Process
Topic 2: Configure Receivables25%- Manage Receivables System Options
  • 1. Manage Transaction Types
  • 2. Configure Business Units
  • 3. Manage Receipt Classes and Methods
Topic 3: Process Receipts and Collections25%- Receipt Processing
  • 1. Collections Management
  • 2. Manage Automatic Receipts
  • 3. Apply Receipts
Topic 4: Manage Customers and Transactions25%- Customer Account Configuration
  • 1. Manage Customer Account Sites
  • 2. Create Customer Profiles
  • 3. Configure Transaction Sources

Common Questions About the Oracle 1Z0-1056-24 Exam

The Oracle Financials Cloud: Receivables 2024 Implementation Professional is the official Oracle exam that leads to the Oracle Financials Cloud certification at the Professional level. Passing it validates your skills against Oracle standards and proves your qualification to current and future employers. The credential is also connected with related certifications such as Oracle Fusion Cloud Financials: Receivables and Collections Certified Implementation Professional, so it can serve as a solid step in a broader certification path.

The 1Z0-1056-24 exam has 50 questions in total and must be completed within 90 minutes. That leaves only a narrow time budget per item, so train yourself to flag a difficult question, move on, and circle back later instead of getting stuck. A week or two before your test date, run at least one full timed mock exam in the Actual4Labs desktop or online test engine under the same 90 minutes limit, and repeat until you can finish with a few minutes left for review.

The passing score for the 1Z0-1056-24 exam is 68%, and the official registration fee is $245 USD. Keep in mind that a failed attempt is not discounted — retaking the exam means paying the full fee again — so it is wise not to book your seat until your practice scores sit comfortably above the passing mark. Working through the 144 questions at Actual4Labs in timed mode is a reliable way to judge when you are truly ready.

Oracle sets the following requirement for the 1Z0-1056-24 exam: Oracle recommends implementation experience with Oracle Fusion Cloud Financials Receivables. Eligibility rules can change from time to time, so always confirm the current prerequisites on the official exam page at https://education.oracle.com/ before you register.

Yes. Actual4Labs offers a free PDF demo for the Oracle Financials Cloud: Receivables 2024 Implementation Professional, so you can review real sample questions and judge the quality before paying anything. After your purchase, you receive 365 days of free updates — whenever the question pool changes, you get the latest version at no cost. Once that period expires, you can extend your update service at a 50% discount from your member zone.

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The Oracle Financials Cloud: Receivables 2024 Implementation Professional is organized into 4 domains. Among the first ones are Configure Receivables (25%), Process Receipts and Collections (25%), Manage Customers and Transactions (25%), and the remaining domains cover the rest of the official objectives. For the complete topic breakdown with every subtopic, see the full 1Z0-1056-24 exam outline above on this page.

Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:

In Advanced Collections, scoring formulas are used to effectively manage your collection activities and strategies. Scoring formulas contain data points that help determine the collectability of your outstanding balances. To determine the number of days passed since the last payment was received from a customer, you can use the Age of Latest Payment data point.
At which details?

  • A. Customer
  • B. Site Address
  • C. Party
  • D. Site
  • E. Account
  • F. Organization
Reveal Solution  Discussion  0

Correct Answer: D  šŸ—³ļø

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Manage Balance Forward Billing Cycles and Payment Terms
Scenario
You are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills.
Task:
Create Balance Forward Billing Cycle, where:
Name of the cycle is XXCycle (Replace XX with 03. which is your allocated user ID.) Bills are generated every day Cycle is effective as Of January 1,2023

Reveal Solution  Discussion  0

Correct Answer:

See the explanation below for solution
Explanation:
Log in to Oracle Financials Cloud.
Click on the Balance Forward Billing icon in the Receivables work area.
Click on the Cycles tab.
Click on the Create button.
In the Balance Forward Billing Cycle window, enter the following information:
Name:XXCycle (Replace XX with your allocated user ID.)
Billing Frequency:Daily
Effective Date:January 1, 2023
Click on the Save button.
The new balance forward billing cycle will be created.
To create a Balance Forward Billing Payment Term:
Click on the Payment Terms tab.
Click on the Create button.
In the Balance Forward Billing Payment Term window, enter the following information:
Name:XXPaymentTerm (Replace XX with your allocated user ID.)
Billing Cycle:XXCycle (The cycle that you created in the previous step.) Due Date:Next Business Day Overdue Days:30 Click on the Save button.
The new balance forward billing payment term will be created.

Which three actions can be performed in the Collections Work Area, which will have an impact on the collection process?

  • A. Processing a payment promise in the Transactions Tab.
  • B. Changing the collector in the Profile Tab.
  • C. Adding new customer contacts in the Contacts tab.
  • D. Creating a credit memo in the Transactions Tab.
  • E. Applying a customer payment in the Aging Tab.
Reveal Solution  Discussion  0

Correct Answer: A,B,C  šŸ—³ļø

Your company wants to generate Intercompany transactions only if the amount Involved is equal to or greater than $3,000 USD.
How should you configure Intercompany System Option*; to meet this requirement?

  • A. Set "Minimum Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and Receivables System Options.
  • B. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum amount requirement.
  • C. Set "Minimum Transaction Amount" to 3,000 and "Minimum entered Currency" to USD.
  • D. Set "Minimum Transaction Amount" to 2,999.99 and "Minimum Entered Currency" to ALL
Reveal Solution  Discussion  0

Correct Answer: A  šŸ—³ļø

Your customer has three sites defined in the system, site 1, site 2, and site 3. All sites have their own billing strategy defined and Balance Forward Billing is enabled for site 1 and Site 2 at the account level.
How will bills be generated?

  • A. Sites 2 and 3 activities will be included in a single bill.
  • B. Sites 1, 2, and 3 activities will be included in a single bill.
  • C. Sites 1 and 2 activities will be included in a single bill.
  • D. Sites 1 and 3 activities will be included in a single bill.
Reveal Solution  Discussion  0

Correct Answer: C  šŸ—³ļø

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