Oracle 1Z0-1058-21 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1Z0-1058-21
Exam Name/Title: Oracle Risk Management Cloud 2021 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Risk Management Cloud

Exam Questions: 77
Updated On: Jul 06, 2026

Question #9

Your client needs to perform Design Review and Certification assessment for all their controls. Identify two options that show how this requirement can be met. (Choose two.)

A. Option B

B. Option D

C. Option C

D. Option E

E. Option A

Discussion 0

Correct Answer: B,E Vote an answer

Question #10

You have completed the data import process with no errors. You created process, risks, controls, and one perspective. Controls were related to perspectives. You have provided the customer with the Control Manager security role. When the customer logs in to Financials Risk Compliance (FRC), the customer cannot see any controls.
Which step was missed during the import process?

A. Data security policies for Controls were not created.

B. The parent process was never approved.

C. The Controls were not related to any risk objects.

D. The Control Method was not set to a valid value.

Discussion 0

Correct Answer: D Vote an answer

Question #11

The internal auditor advised the Control Owner of North America to perform assessment for two P2P controls.
Which three steps can the Control Owner perform to kick-off assessments for only those two controls?
(Choose three.)

A. Enable impromptu assessments during configuration of module objects.

B. Initiate two plannedassessments, one for each control.

C. Initiate a planned assessment and include the two controls as part of the same assessment.

D. Initiate a planned assessment that includes all controls assigned to perspective P2P.

E. Perform impromptu assessments for the two controls.

Discussion 0

Correct Answer: A,B,D Vote an answer

Question #12

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?

A. The control's testplan should be updated to include both Audit Test and Design Review as assessment types.

B. The control manager does not need to update the control because any initiated assessment will include all control test plans.

C. The control's test plan should be updated to Audit Test as the assessment type.

D. The control manager should create a new test plan with Audit Test and Design Review as assessment types.

Discussion 0

Correct Answer: A Vote an answer

Question #13

How do you identify Financial Reporting Compliance Cloud's key stakeholders?

A. Identify users who will create customer invoices, andreceive and apply customer payments.

B. Identify executives who will manage customer balances and recognize revenue.

C. Identify users who need to create and submit expense reports easily.

D. Identify executives who need to certify internal controls for SOX or similar mandates.

Discussion 0

Correct Answer: B Vote an answer

Question #14

Which statement related to Advanced Access Controls is true?

A. If helps perform risk analysis and evaluation.

B. Itdocuments risks and controls.

C. If helps enforce segregation of duties.

D. It analyzes transaction records.

Discussion 0

Correct Answer: C Vote an answer

Question #15

An organization has a list of companies with which they no longer wish to do business. The list is not stored in their ERP Could but is stored in a file.
Whichtransaction model will identify payments made to these companies?

A. You cannot define this model because imported objects from a file cannot be used with delivered objects.

B. Create an Imported business object that can be used in conjunction with Oracle's pre-built "Payment" object. One both objects are in your model, add this standard filter: the "Payment" object's "Remit to Supplier Name" is similar to the custom object's "Company Name" by 95%.

C. Create an Imported business object that can be used in conjunction with Oracle's pre-built "Payables Invoice" object. Once both objects are in your model, add this standard filter: the "Payables Invoice" object's "Supplier Name" equals the custom object's "Company Name".

D. Add a configurable attribute "Company Name" to Oracle's pre-built "Payment" object. Then add this standard filter: "Remit to Supplier Name" equals "Company Name".

Discussion 0

Correct Answer: C Vote an answer

Question #16

Which two should youdetermine to ensure that your client can successfully maintain and administer Perspectives post go-live? (Choose two.)

A. Identify users who will be responsible for creating andmaintaining controls and/or risks.

B. Identify users who will be responsible for creating and maintaining perspectives, both for security as well as reporting.

C. Identify lookupvalues that need to be created for Control, Risk, and Issue Type fields.

D. Identify if your client wants to review and/or approve new perspectives or changes made to existing perspectives.

Discussion 0

Correct Answer: C,D Vote an answer

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