Oracle 1Z1-1056 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1Z1-1056
Exam Name/Title: Oracle Financials Cloud: Receivables 2019 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud

Exam Questions: 110
Updated On: Jul 13, 2026

Question #1

Which statement is true when you create an Implementation Project for Oracle Financials Cloud?

A. You need to make only the project name unique, and then you can perform the setup for any product family, such as Financials, Procurement, Human Capital Management, and Supply Chain Management.

B. You must plan your Implementation Project carefully because you cannot delete it or make changes later.

C. The Implementation Project is preconfigured and cannot be deleted or changed.

D. When you select the offering "Financials," it automatically allows you to perform the setup for all Oracle Financials Cloud products.

E. You must select the offering "Financials" and each individual product or option to perform the setup for each product in Oracle Financials Cloud.

Discussion 0

Correct Answer: A Vote an answer

Question #2

Which two duties are included in the Accounts Receivable Specialist associated role? (Choose two.)

A. Payment Settlement Management Duty

B. Trading Community Hierarchy Management Duty

C. Receipt Creation Duty

D. Import Payables Invoices Duty

Discussion 0

Correct Answer: A,D Vote an answer

Question #3

What is the impact on transactions of changing the billing cycle for a customer or group of customers?

A. Existing transactions with activity adapt the new billing cycle.

B. New transactions after this change inherit the new billing cycle.

C. Existing transactions with no activity retain the old billing cycle.

D. The billing cycle does not have any impact on new transactions.

Discussion 0

Correct Answer: B Vote an answer

Question #4

Which two determinant types are used in reference data assignment? (Choose two.)

A. Account Segment

B. Business Unit

C. Project unit

D. Project Segment

Discussion 0

Correct Answer: B,C Vote an answer

Question #5

If the Contract Identification Rules that you defined for your customer did not group the source data into customer contracts as expected, how would you resolve the issue?

A. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts UI.

B. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.

C. Delete the source data that was imported into Revenue Management and import new source data.

D. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher-priority Contract Identification Rule, and run the Identify Customer Contracts program again.

E. Delete Contracts from the Manage Customer Contracts UI.

Discussion 0

Correct Answer: D Vote an answer

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Question #6

When running the delinquency process for a customer, the business unit for which you want to run the process does not appear in the drop-down menu.
Identify the action that you need to take.

A. Click the Settings button to apply appropriate settings so that the business unit appears in the drop-down menu.

B. Business unit is not a required option on the Parameters tab to run the delinquency process.

C. Only business units that the user has access to will appear in the list of values. Modify the security options to provide access to the user.

D. Select the check box to enter the default business unit if it does not appear in the drop-down menu.

Discussion 0

Correct Answer: C Vote an answer

Question #7

What are the three drilldown options available in the task pane for Receipt Remittance? (Choose three.)

A. Manage Receipt Remittance Batches

B. Create Automatic Receipts

C. Correct Funds Transfer Errors

D. Lockbox Transmission History

E. Create Receipt Remittance Batch

Discussion 0

Correct Answer: A,B,E Vote an answer

Question #8

Where is the summary delinquency data displayed In the Collections Work Area?

A. Aging Tab

B. Transactions Tab

C. Profile Tab

D. History Tab

Discussion 0

Correct Answer: A Vote an answer

Question #9

How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?

A. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.

B. The strategy can be modified from the Manage Customers page.

C. Only a Collections Administrator can modify the strategy.

D. The Collector can modify the strategy from the Profile > Strategies tab.

Discussion 0

Correct Answer: A Vote an answer

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