Oracle 1z1-962 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1z1-962
Exam Name/Title: Oracle Financials Cloud: Receivables 2017 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud Receivables 2017

Exam Questions: 80
Updated On: Jun 26, 2026

Question #1

Which three transaction types are used to generate late charges? (Choose three.)

A. Cash Receipts

B. Adjustments against the original transaction

C. Interest Invoice

D. Credit Memo

E. Debit Memo

Discussion 0

Correct Answer: B,C,D Vote an answer

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Question #2

You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.
How would you achieve this?

A. Set the credit classification revenue recognition policy to look for Line First and Tax Later.

B. Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.

C. Set the payment terms revenue recognition policy to look for Line First and Tax Later.

D. Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.

E. Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.

Discussion 0

Correct Answer: E Vote an answer

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Question #3

Which three interest rate calculation formula methods are supported in Receivables? (Choose three.)

A. Compound

B. Flat Rate

C. Simple

D. Average

E. Declining Balance

Discussion 0

Correct Answer: A,B,C Vote an answer

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Question #4

What is the order used to group transaction lines during the AutoInvoice Import process?

A. Transaction Source, Customer Account Profile, Customer Site Profile, system options

B. Transaction Source, Customer Site Profile, Customer Account Profile, system options

C. System options, Customer Site Profile, Transaction Source, Customer Account Profile

D. Transaction Source, Customer Account Profile, system options, Customer Site Profile

Discussion 0

Correct Answer: B Vote an answer

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Question #5

What information does the Collector see in the Activities List area of the Collections Dashboard?

A. summary of aged transactions

B. customer search as per the parameter specified

C. status of processing activities from the Process Monitor

D. customer's profile for each assigned customer

E. tasks assigned to the Collector, such as follow-up calls

Discussion 0

Correct Answer: E Vote an answer

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Question #6

Which three actions are facilitated through the Reconciliation Summary Report? (Choose three.)

A. drilldown to see details of unaccounted revenue transactions not transferred and posted to the General Ledger

B. drilldown to view data and use standard Excel functions such as sum, find, sort, and filtering without actually downloading to Excel

C. drilldown on the difference amounts to see specific reconciling items and the potential cause of the out-of-balance condition

D. drilldown to see reconciliation details and to make reconciling corrections

E. drilldown from any of the summarized Receivables and Accounting amounts to see detailed activity

Discussion 0

Correct Answer: B,C,E Vote an answer

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Question #7

Which statement is true about AutoAccounting?

A. AutoAccounting is used to determine the default General Ledger accounts only for transactions that you import by using AutoInvoice.

B. IfAutoAccounting cannot determine all the accounting flexfield segments, it derives what it can and displays an incomplete accounting flexfield.

C. You cannot override the default General Ledger accounts thatAutoAccounting creates.

D. AutoAccounting is set up at the Legal Entity level.

Discussion 0

Correct Answer: B Vote an answer

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Question #8

Identify two values that default from Customer Profile Classes. (Choose two.)

A. Tax

B. Payment Terms

C. Business Purpose

D. Legal Entity

E. Statement Cycle

Discussion 0

Correct Answer: A,B Vote an answer

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