[Jun 01, 2022] Pass Project Financials Management Cloud 1Z0-1057-21 Exam With 93 Questions
Ultimate Guide to Prepare Free Oracle 1Z0-1057-21 Exam Questions and Answer
NEW QUESTION 25
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 underprojects. 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.)
- A. The quality manager belongs to a department that is not associated with the project.
- B. The "Require Task Managers to be Project Team Members" profile option is set to Yes.
- C. The quality manager is not assigned with a supervisor.
- D. The "Require Task Managers to be Project Team Members" profile option is set to No.
Answer: B
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/fapfm/introducing-oracle-project-po Topic - Project Foundation Profile Options Profile Option Name - Task Managers Must Be Project Team Members Description - Specify whether task managersmust be project team members.
Values - No (Default) /Yes
Setup Task Name -Require Task Managers to be Project Team Members
NEW QUESTION 26
You create a contract with two contract lines: Line 1 and Line 2. You create separate bill plans: A for contractLine 1 and B contract for Line 2, with a different bill set number (11 for Bill Plan A and 22 for Bill Plan B).
Then Bill Plan A is allocated against Project X - Task 10, and Bill Plan B is allocated against Project Y - Task
30.
Based on the preceding setup, you are generating invoices. Identify two correct statements about invoice generation in this scenario. (Choose two.)
- A. Invoice generation does not depend on bill plan. The invoices are created based on the contract line.
- B. Bill set number drives the grouping of transactions.
- C. Both the contract lines create only a single invoice because they are using the same contract.
- D. Two invoices are created using the same contract.
Answer: B,D
Explanation:
Explanation
Ref:https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJB/F1087456AN1006D.htm What's a bill set?
Transactions originating from different bill plans with the same bill set number on a contract are included on the same invoice.If a contract has multiple bill plans and each have different values for the bill set, Oracle Fusion Project Billing creates a separate invoice for each bill plan
NEW QUESTION 27
You are now the project manager of a newly created implementation project. Which two items arenotpart of managing an implementation project?
- A. Generate a list of setup tasks.
- B. Assign tasks to various users who are responsible for managing setup data.
- C. Enable optional functional areas and features by opting in.
- D. Monitor the progress of completing setup tasks.
- E. Select the offering you want to implement.
Answer: A,B
NEW QUESTION 28
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 thebest answer.)
- A. P
- B. Q
- C. S
- D. R
Answer: D
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/evaluate-and-assign-resourc Topic -Resource Available Capacity Score: How It's Calculated Calendars Used to Calculate Resource Available Capacity Scores How the Resource Available Capacity Score Is Calculated
NEW QUESTION 29
Your customer wants a team member who is assigned to a project to beable to create and submit a forecast, butnot to be able to approve the forecast. What is the default project rolethat you should assign to the person in the project to meet this requirement? (Choose the best answer.)
- A. Project Manager
- B. Project Administrator
- C. Project Accountant
- D. Project Application Administrator
Answer: B
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjm/project-administrator-job-ro Project Manager has duty role 'ProjectForecast Approval Duty' assigned but Project Administrator has duty role 'Project Forecast Inquiry Duty' - no approval authority Both roles have duty role 'Project Forecast Management Duty' which enables them to Allow creation, submission, update, and deletion of working versions of project forecasts. (Cloud _Roles_Duties.xlsx)
NEW QUESTION 30
You create a project schedulewith a Shifts element. Identify two more elements that can be part of a project schedule. (Choose two.)
- A. Accounting Calendar
- B. Workday Patterns
- C. Time Off
- D. Expenditure Type
- E. Exceptions
Answer: B,E
Explanation:
Explanation
Reference: https://docs.oracle.com/cloud/latest/projectcs_gs/FAPFM/FAPFM1192914.htm Topic - Creating Calendars for Projects and Resources: Procedure Project Schedules are used asa base for project and resource calendars in Project Execution Management applications. The smallest scheduling unit is a day. For example, you can define the number of hours in a day but, you can't schedule work for a specific time of the day.
The following are the elements of a schedule:
* Shifts
* Workday patterns
* Exceptions
NEW QUESTION 31
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 commitmentfor $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.)
- A. 0
- B. 1
- C. 2
- D. 3
Answer: D
Explanation:
Explanation
Budget 5,000Actuals 800Commitment 600
ETC = Budget - Actuals - Commitment
ETC = 5,000-800-600 = 3,600 Budget available for next 4 months = 3,600/4 = 900/month
NEW QUESTION 32
Whichthreesetups can be configured by using Rapid Implementation for Project Financial Management Applications?
- A. Project Templates
- B. Departments
- C. Expenditure Types
- D. Project Types
Answer: B,C,D
NEW QUESTION 33
While creating a new project template, you notice that a default Asset Cost Allocation method is being automatically associated. Identify the source setup from which the default value is being inherited. (Choose the best answer.)
- A. project organization
- B. project classification
- C. project type
- D. project unit
Answer: C
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/define-project.html#OAPJF2 Asset Cost Allocation Methods The asset cost allocation method determines how indirect or common costs incurred on a project are allocated to multiple assets.
You can specify an asset cost allocation method to enable Oracle Fusion Project Costing to automatically allocate unassigned asset lines and common costs across multiple assets. Unassigned asset lines typically occur when more than one asset is assigned to an asset grouping level.
Projects and project templates inherit a default asset cost allocation method from the associated project type.You can override the default at the project level. If you use capital events to allocate costs, then you can also override the asset cost allocation method at the event level Asset Cost Allocation Methods The following table describes the available asset cost allocation methods.
Method
Basis of Cost Allocation
Actual Units
Number of units defined for each asset
Current Cost
Construction-in-process (CIP) cost of each asset
Estimated Cost
Estimated cost of each asset
Standard Unit Cost
Combination of the standard unit cost and the number of units defined for each asset Spread Evenly Equal allocation of cost to each asset
NEW QUESTION 34
Your customer has a requirement toimport and process third-party transactions that are "costed" and
"accounted".
Which configuration option needs to be set satisfy the requirement? (Choose the best answer.)
- A. Document Entry Options
- B. Document Options
- C. Transaction Source Options
- D. Import Options
Answer: C
Explanation:
Explanation
Reference: https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJC/F1071488AN1004C.htm
NEW QUESTION 35
Your organization has been awarded a new contract based on which you are allowedto sell:
* Items not tracked in inventory
* Inventory items
* Services
Which contract structure would fulfill your requirement of item sales? (Choose the best answer.)
- A. Create two contract lines with a line type each of "sell intent, free-form, project-based" and "sell intent, item, project-based
- B. Create two contract lines with a line type each of "free-form, project-based buy agreement" and "bundle sell, 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".
Answer: A
NEW QUESTION 36
You are implementing Project Portfolio Management (PPM) for a professional services firm. The firm rents multiple buildings for its operations. At the end of each month, they reviewthe rent expense for the month and want to allocate the rental cost to all the projects and tasks that are executed by associates in each of the buildings. The source amounts must be proportionally allocated to the tasks based on the raw costs of the tasks from the previous month. Considering that all these costs are in General Ledger, what three allocation setups should you complete in PPM? (Choose three.)
- A. Allocate rental costs once each accounting period by using the"full" allocation method.
- B. Define allocation basis by using Actual Amounts with a project-to-date amount class.
- C. Allocate rental costs once each accounting period by using the "spread evenly" allocation method.
- D. Define allocationbasis by using Actual Amounts with aperiod-to-date amount class.
- E. Allocate to all eligible tasks and prorate the allocation by thetotal actual raw costaccrued for each task during theprevious accounting period.
Answer: A,D,E
NEW QUESTION 37
Identify theattribute of a project typethatdetermines if expenditure items are billable, and theamount type to be used as the basisfor transfer pricing. (Choose the best answer.)
- A. worktype
- B. event type
- C. cost type
- D. expenditure type
Answer: A
Explanation:
Explanation
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125361.htm#OAPFM1125277 (what's a work type?) In billing, you can use work types to classify work for the following purposes:
* To determine the default billable status of expenditure items.
* To classify cross-charge amounts into cost and revenue for cross-charge transactions.
Tip:To use work types to determine whether an expenditure item is billable you must set the profile option Work Type Derived for Expenditure Item toYes.
When you create or import expenditure items, the default work type is inherited from the associated task.
Tasks, in turn, inherit work type values from parent tasks and ultimately from the project.Project types determine the default work type value for projects and project templates
NEW QUESTION 38
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 displayslabor 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 current period start date is used for calculating labor demand for the current year.
- 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.
Answer: A
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/analyze-project-managemen 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 thecurrent dateto determine which year or quarter to display.
NEW QUESTION 39
Yourcustomer wants to see how quantity, cost, and revenue amounts are automatically distributed by using Spread Curve. Identify two period options that are available for this purpose. (Choose two.)
- A. Accounting Periods
- B. Project Accounting Periods
- C. PA-GL Periods
- D. PA Calendar
- E. Calendar Types
Answer: A,B
Explanation:
Explanation
Reference: https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_87F467307D50416BE040D30A68816855 Spread curves let you distribute quantity, cost, and revenue amounts automaticallyacross accounting or project accounting periods. You assign a spread curve to each resource class. Planning resources (in the planning resource breakdown structure)inherit the spread curve setting from the associated resource class. You can change the spread curve for the planning resource and for any corresponding task assignments, or budget or forecast lines.
NEW QUESTION 40
As part of maintaining (importing new employees thatwere 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.
Whichthreeare parameters that are based on which the system identifies the new resources?
- A. Business Unit
- B. Project Unit
- C. Department
- D. Organization
- E. Jobs
Answer: A,D,E
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/fapfm/implementing-project-execu Topic -Manage Maintenance Conditions for Project Enterprise Labor Resource
NEW QUESTION 41
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 andadded 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 China business unit is associated with a different legal entity than the US and UK business units.
- B. The US and UK business units are linked to different ledgers than the China business unit.
- C. The application role relevant to the China business unit is not assigned to the project accountant.
- D. The project accountant isnot assignedto the external rolethat grants access to the China business unit.
Answer: D
NEW QUESTION 42
Your customer wants to automatically allocate unassigned asset lines and common costs across multiple assets basedon the construction-in-process cost of each asset.Identify the asset allocation method that you must use as the default method while configuring project types to meet this requirement. (Choose the best answer.)
- A. Spread Evenly
- B. Estimated Cost
- C. Current Cost
- D. Actual Unit
- E. Standard Unit Cost
Answer: C
Explanation:
Explanation
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-foundation-configura Topic - Asset Cost Allocation Methods: Explained The asset cost allocation method determines how indirect or common costs incurred on a project are allocated to multiple assets.
You can specify an asset cost allocation method to enable Oracle Fusion Project Costing to automatically allocateunassigned asset lines and common costs across multiple assets. Unassigned asset lines typically occur when more than one asset is assigned to an asset grouping level.
Projects and project templates inherit a default asset cost allocation method from the associated project type.
You can override the default at the project level. If you use capital events to allocate costs, then you can also override the asset cost allocation method at the event level.
The following table describes the available asset cost allocation methods.
Method
Basis of Cost Allocation
Actual Units
Number of units defined for each asset
Current Cost
Construction-in-process (CIP) cost of each asset
Estimated Cost
Estimated cost of each asset
Standard Unit Cost
Combination of thestandard unit cost and the number of units defined for each asset Spread Evenly Equal allocation of cost to each asset
NEW QUESTION 43
Your customer wants to calculate Estimate to Complete (ETC) as the difference between Current Planned Cost andActual Cost. In Progress Settings, which option would you use in conjunction with the ETC method to meet this requirement? (Choose the best answer.)
- A. Effort
- B. Manual Entry
- C. Remaining Plan
- D. Cost
Answer: D
Explanation:
Explanation
Reference: https://ppm-help.saas.hpe.com/en/9.42/Help/Content/UG/PjMUG/view_pj_cost_data_costtab.htm Below is an example of the Financial Summary view on the Costtab of the Project Overview page.
https://admhelp.microfocus.com/ppm/en/9.42/Help/Content/UG/PjMUG/images/ProjectOverviewPage_CostTab
NEW QUESTION 44
Your administrator creates maintenance conditions on the Maintain Project Enterprise Labor Resources page.
An HCM person is included in a condition with a process ordervalue 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 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.
- B. For the three conditions that have the same process order value of 10, the records are processed in ascending alphabetic orderbased on the condition name.
- C. 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.
- D. 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.
Answer: B,C
NEW QUESTION 45
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