Oracle Project Management Cloud 2022 Implementation Professional (1z0-1057-22) Free Practice Test

Question 1

You have been hired as a project manager for implementing the Project Financial Management and Project Execution Management offering by an organization. The Chief Information Officer of the deploying organization has requested you to explain the benefits of using the implementation project-based approach over the functional area-based approach.
Which two are the main benefits of using the implementation projects within Functional Setup Manager? (Choose two.)

A. Implementation Project helps in assigning responsibility of managing setup data to a broad group of users.

B. Implementation Project helps you to use the manage setup data entry in bulk option.

C. Implementation Project helps you to monitor progress of the setup tasks.

D. Implementation Project gives you the flexibility to set up different functional areas of the offering at different times.

Correct Answer: A,C

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Question 2

Identify the three contract attributes from Project Performance Data that are used in Project Performance dashboard regions. (Choose three.)

A. Projects

B. Contract Line

C. Contract Header

D. Expenditure Type

E. Task

Correct Answer: A,B,E

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Question 3

Your customer wants to calculate Estimate to Complete (ETC) as the difference between Current Planned Cost and Actual Cost. In Progress Settings, which option would you use in conjunction with the ETC method to meet this requirement? (Choose the best answer.)

A. Effort

B. Cost

C. Manual Entry

D. Remaining Plan

Correct Answer: B

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Question 4

Your client is involved in automation control systems installation. Over the years, they have analyzed their total project spend on specific resource classes. They have identified that their cost spread distribution factor on a 10 spread point scale resembles:
0-4-10-11-14-13-10-4-0-0. Identify two ways to handle this kind of a spread on their budgets and forecasts. (Choose two)

A. Create a new spread curve or edit an existing spread curve to exactly match the spread points and attach to a project template.

B. Use the predefined Bell Curve spread with small deviations on the spread points.

C. Use the predefined S-Curve spread with small deviations on the spread points.

D. Create a new spread curve or edit an existing spread curve to exactly match the spread points and attach to the resource class.

Correct Answer: A,D

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Question 5

Your company uses an accounting calendar with periods that are identical to calendar months. A contract resource has been identified to work for six months on an accounting close cycle project. The resource is planned to start with 10 days left in the first period and to end 20 days into the last period. For the remaining periods, the resource must be loaded on all working days of the month. You are required to distribute the budget, forecast, and planning amounts across periods based on the task duration.
Which predefined spread curve must be used to meet this requirement? (Choose the best answer.)

A. Daily Spread Basis

B. Even

C. S-Curve

D. Bell Curve

E. Back Loaded

Correct Answer: A

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Question 6

Which two statements are true about the borrowed and lent cross charge method? (Choose two.)

A. This method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations

B. This method allows you to process cross charge transactions across legal entities.

C. You must set up a contract business unit to use this method.

D. Internal Invoice is not generated with this method.

Correct Answer: B,D

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Question 7

You want to create a few project roles so as to restrict access in the Project Financial Management work area to only the specific projects in which an employee is assigned as a team member. What are the two default project roles available to meet this requirement? (Choose two.)

A. Project Executive - Security based on Project Hierarchy

B. Project Manager - Security based on Project Assignment

C. Project Team Member - Security based on Project Assignment

D. Project Billing Specialist - Security based on Contract BU

E. Project Accountant - Security based on BU for Assets, Expenditure BU for Costs and Contract BU for Revenue

Correct Answer: B,C

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Question 8

Your organization has a requirement to send notifications to the owners of the associated tasks when the status of a deliverable is set to Complete. You have been asked to evaluate generate public events for project deliverable status changes feature to manage this requirement.
Which two statements are true about this feature? (Choose two.)

A. The public event is generated when a deliverable is created or deleted.

B. The public event is not generated when the priority of a deliverable changes.

C. The public event is not generated when a deliverable is created or deleted.

D. The public event is generated when the progress status for a deliverable changes.

Correct Answer: C,D

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Question 9

Select two correct statements about project classifications on a template. (Choose two.)

A. Project Classification is a mandatory field on a project template.

B. When a project is created from a template, the required project classifications must be entered.

C. Project class category in a project classification must be associated with a Set Code.

D. Set Code is not required for a project class category in a project classification.

Correct Answer: B,C

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Oracle Project Management Cloud 2022 Implementation Professional (1z0-1057-22) Free Practice Test