Updated Oct-2021 1Z0-1081-20 Exam Practice Test Questions
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NEW QUESTION 22
Which twomembers of the Data Source dimension are optional when you create a Financial Consolidation and Close (FCCS) application? (Choose two.)
- A. FCCS_No Data Source
- B. FCCS_Intercompany Eliminations
- C. FCCS_PCON
- D. FCCS_Journal Input
Answer: B,D
NEW QUESTION 23
You have added a new task to a close schedule with a task due date past the defined end date of the schedule. What is the result of the change?
- A. The task will not run.
- B. The schedule end date changes to match the end date of the task.
- C. An error, you can't add a new task past the due date.
- D. The new task will run outside of the schedule end date.
Answer: B
Explanation:
When you add a new task to a schedule, it automatically is scheduled to start on the project's start date. As tasks are added to the schedule and connected to other tasks, the start times of tasks will change, and the last task to finish determines the project's finish date.
NEW QUESTION 24
Which four sample ratios can be selected during business process creation?
- A. Days Sales in Receivables
- B. Gross Margin
- C. Debt Ratio
- D. Inventory Ratios
- E. Contribution Margin
- F. Earnings per Share
Answer: A,B,E,F
NEW QUESTION 25
By default, security access is set to "None" for which threedimensions? (Choose three.)
- A. Data Source
- B. Movement
- C. Account
- D. Year
- E. Entity
Answer: A,C,E
NEW QUESTION 26 
PQR Company has the ownership structure shown above.
If H_1 lends money to P_2, the intercompany elimination of H_1's receivable occurs as data from Hickory consolidates into PQR. What is this principle called?
- A. Generation 0
- B. Lowest common denominator
- C. First common parent
- D. First order relation
Answer: C
NEW QUESTION 27
Which statement correctly describes what happens to parent entities duringconsolidation?
- A. Since parent entities are tagged as dynamic calc, the consolidation has no effect on the entity dimension.
- B. The changes in the relational database are synced to theunderlying Essbase cube.
- C. The data in the FCCS_Intercompany Eliminations Data Source dimension member is subtracted from the FCCS_TotalInputAndAdjusted Data Source dimension member for each descendant and then added together.
- D. From each child of the entity, data from the FCCS_Contribution Consolidation dimension member is added together and stored in the FCCS_Entity Consolidation member of the entity.
Answer: C
NEW QUESTION 28
What are two important first steps in initially setting up Task Manager?
- A. Create a schedule and set it to Open status.
- B. Set up Users.
- C. Assign tasks to users.
- D. Define system settings such as Organization units, Holiday rules and Task attachment size.
Answer: B,D
Explanation:
Reference:
cm_close_process_overview.html
NEW QUESTION 29
In Financial Close Manager, when would you choose to define tasks in a Template rather than create a new Schedule each month?
- A. when the tasks require multiple levels of approvers
- B. when the tasks are often late in completion and they need to be monitored more closely
- C. when the tasks require consistent definition across close schedules
- D. when the tasks are repeatable over multiple close cycles
Answer: B
NEW QUESTION 30
How do you enable multiple currencies within a Financial Consolidation and Close (FCCS) application?
- A. During application creation, select the Multicurrency option of "Yes".
- B. During application creation, select the Multicurrency option of "No" and insert additionalcurrencies within the Currency dimension.
- C. Add a new label for a currency when creating a new Entity member in the Reporting Currency attribute field.
- D. Enable a dimension for Currency after application creation via a Metadata load.
Answer: D
NEW QUESTION 31
Whichstatement is FALSE when setting up Shared Entities?
- A. The calculation status will not change in all instances when data is changed in one instance.
- B. You build an alternate hierarchy by using partial share Entity members.
- C. When data is posted to one shared entity, the data is posted to all instances.
- D. The Data Storage Member Property must set to "Dynamic Calc".
Answer: D
NEW QUESTION 32
Which two members of the Data Source dimension are optional when you create a Financial Consolidation and Close (FCCS) application? (Choose two.)
- A. FCCS_No Data Source
- B. FCCS_Intercompany Eliminations
- C. FCCS_PCON
- D. FCCS_Journal Input
Answer: B,D
Explanation:
Optional - Only if selected during application creation.
Reference: https://www.bisptrainings.com/pdf/pdf_docs/OracleFCCSGettingStartedGuideII-20191116111928.pdf
NEW QUESTION 33
How do you enable multiple currencies within a Financial Consolidation and Close (FCCS) application?
- A. During application creation, select the Multicurrency option of "Yes".
- B. Add a new label for a currency when creating a new Entity member in the Reporting Currency attribute field.
- C. During application creation, select the Multicurrency option of "No" and insert additional currencies within the Currency dimension.
- D. Enable a dimension for Currency after application creation via a Metadata load.
Answer: D
Explanation:
Enable a dimension for Currency after application creation via a Metadata load.
NEW QUESTION 34
Which components are pre-built into Financial Consolidation and Close Cloud Service to provide a configurable and scalable consolidation solution?
- A. calculations, dashboards and reports as well as detailed data source tracking and an automated cash flow
- B. calculations, dashboards and reports to provide analysis for cash flow modeling
- C. pre-built integrations to combine narrative and data to produce both internal and external reporting packages
- D. calculations, dashboards and reports built on planning frameworks to provide cash flow planning
Answer: A
NEW QUESTION 35
Which selection enables data to be imported directly into any Financial Consolidation and Close (FCCS) application?
- A. Select Dimensions, then Actions, and then Import Data
- B. Select Import, then Actions, and then Data
- C. Select Application, thenOverview, then Actions, and then Import Data
- D. Select Application, then Overview, then Data, and then Export
Answer: C
NEW QUESTION 36
What is the correct Currency dimension member to select when running an Intercompany Matching Report?
- A. Entity Currency
- B. Parent Currency
- C. Input Currency
- D. Reporting Currency
Answer: D
Explanation:
Currency (Must be a Reporting Currency)
Reference:
setting_up_intercompany_matching_reports.html
NEW QUESTION 37
When a Financial Consolidation and Close (FCCS) application was created, no intercompany options were enabled.
Which statement is true?
- A. An extra custom dimension will be available.
- B. The ICP dimension will be omitted.
- C. The FCCS_No Intercompany member of the ICP dimension will be used for all data.
- D. Data can be stored by intercompany partner but no eliminations will occur.
Answer: B
NEW QUESTION 38
When defining a batch in Data Management, which statement is True?
- A. A batch can load to multiple plan types.
- B. Batches can import from source or export to target, but not both.
- C. Each data load rule must specify the period or the batch will default to the POV period.
- D. Batches can execute data loads for multiple locations.
- E. A batch replaces the need for data load rules.
Answer: D
NEW QUESTION 39
Inwhich two instances will the FCCS_Mvmts_FX_to_CTA movement member populate in a translated currency?
- A. The current FCCS_CTA account balance does not change from the prior period
- B. The account is FCCS_Net Income
- C. Movement of FX impact for historical rate accounts to the FCCS_CTA account
- D. A variance in the Average rate and the Ending rate
Answer: A
NEW QUESTION 40
Which four statements are true about the members in the FCCS_Cash Flow hierarchy in the Movement dimension? (Choose four.)
- A. All primary Movement members under the FCCS_Mvmts_Subtotal member must be included in the FCCS_CashFlow hierarchy.
- B. The Cash Change hierarchy cannot bemodified.
- C. Siblings can be added to the FCCS_CashFlow_Investing member.
- D. The seeded member FCCS_Mvmts_AccountsPayable found within the FCCS_CashFlow hierarchy has a Subtraction operator.
- E. Input level members under the FCCS_Mvmts_Subtotal are Shared members in the FCCS_CashFlow hierarchy.
- F. Standard cash accounts are members of the FCCS_CashFlow_Operating hierarchy.
Answer: C,D,E,F
NEW QUESTION 41
Which option can be used for quarter distributions on a 13-month time period calendar when creating a Financial Consolidation and Close Cloud (FCCS) application?
- A. 4-4-4-4
- B. 4-4-4-5
- C. 3-3-3-3
- D. 3-3-3-4
Answer: D
NEW QUESTION 42
When creating a Financial Consolidation and Close (FCCS) application, which initial Multi-source data options can be selected? (Choose two)
- A. Data Management
- B. Supplemental Data
- C. ERP r12
- D. ERP Cloud
Answer: A,B
NEW QUESTION 43
For which three tasks can Data Management be used? (Choose three.)
- A. loading data that is period-to-date or year-to-date
- B. drilling through from a web form or Smart View
- C. loading data from a fixed width or delimited text file
- D. writing back data to source systems
- E. loading a Metadata Import File
Answer: B,C,D
NEW QUESTION 44
When can the Intercompany Dimension be enabled and n=made visible within your application?
- A. during application creation and selecting Multi-source Data Input of Other Data
- B. after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Account attribute
- C. after application creation by selectingany Entity as IC_Entity_Yes for the Intercompany Entity attribute
- D. during application creation and selecting the Intercompany Data feature option
Answer: D
NEW QUESTION 45
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