Oracle 1Z0-1081-24 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1Z0-1081-24
Exam Name/Title: Oracle Financial Consolidation and Close 2024 Implementation Professional
Certification Provider: Oracle
Corresponding Certification: Oracle Cloud

Exam Questions: 173
Updated On: Jul 14, 2026

Question #82

Which two statements are correct with regard to Data Management locations? (Choose two.)

A. The logic account group is required in order to effect running of calculations after the data load.

B. Locations must specify an import format, which may be used by other locations.

C. A company with three instances of Oracle EBS R12 should only use one location to maintain proper accounting controls.

D. Location security allows users to be provisioned in Shared Services for read or modify access to each location.

E. Locations can share dimension member mappings by specifying a location as a parent location of others.

F. Data load rules can be shared across locations.

Discussion 0

Correct Answer: B,E Vote an answer

Question #83

Which statement is FALSE regarding establishing security for Financial Consolidation and Close?

A. All members are accessible for dimensions with no security applied.

B. Security is mandatory for one dimension.

C. Security can be assigned at a parent level.

D. The Identity Domain Administrator inherits full access privileges.

E. Security can be disabled for any dimension.

Discussion 0

Correct Answer: E Vote an answer

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Question #84

When creating an application in Financial Consolidation and Close (FCCS), what Time Periods sections can be made?

A. 12-month, 13-month and a 14-month

B. 12-month and 13-month

C. 12-month only

D. Any number of months can be selected

Discussion 0

Correct Answer: B Vote an answer

Question #85

Which two statements are true about the roll forward calculation in the Movement dimension? (Choose two.)

A. Values for base-level Movement members are calculated as the difference between Closing Balance and Opening Balance.

B. Data for opening balances must be loaded to the Opening Balance member prior to consolidation.

C. Values for Opening Balance are retrieved from the prior period's Closing Balance.

D. Translated values for Closing Balance are adjusted to the ending rate for the period.

Discussion 0

Correct Answer: C,D Vote an answer

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Question #86

Which statement is true about an approval process with the Phase Dependency option enabled?

A. Data for a later phase can be promoted to a higher level in the promotion path than data for an earlier phase, but cannot be changed to Approved.

B. 'Data for an earlier phase cannot be changed from Approved to Locked until data for all later phases has been changed to Approved.

C. Data for a later phase cannot be changed from Not Started to Under Review until the status of earlier phases is changed to Approved.

D. Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase.

Discussion 0

Correct Answer: D Vote an answer

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Question #87

Which three scenarios result in foreign currency translation during the default consolidation process?

A. A shared entity has a different default currency than its parent

B. A base entity has the same default currency as its parent.

C. A parent entity has a different default currency than its parent.

D. A parent entity has the same default currency as its parent.

E. A base entity has a different default currency than its parent.

Discussion 0

Correct Answer: A,C,E Vote an answer

Question #88

Financial Consolidation
and Close maintains calculation status for which four dimensions?

A. Data Source

B. Year

C. Entity

D. Scenario

E. Period

F. Consolidation

Discussion 0

Correct Answer: C,D,E,F Vote an answer

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Question #89

Which two rate accounts are available in the seeded exchange rate forms? (Choose two.)

A. Local Rate

B. Average Rate

C. Ending Rate

D. Opening Rate

Discussion 0

Correct Answer: B,C Vote an answer

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Question #90

What is the Data Storage value for an account that must remain at a historical exchange rate and not retranslate with current rates?

A. Store

B. Dynamic

C. Dynamic Calc and Store

D. Never Share

E. No Rate

Discussion 0

Correct Answer: A Vote an answer

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