Oracle Revenue Management Cloud Service 2020 Implementation Essentials (1Z0-1059-20) Free Practice Test

Question 1

Which statement Is True regarding the Customer Contract Source Data Import Template?

A. It is a predefined Excel FBDI template.

B. It is a custom template that you are required to build.

C. It Is a predefined HTML FBDI template.

D. It is a predefined Java FBDI template.

Correct Answer: A

Question 2

How can you access an implementation task in Functional Setup Manager. (choose 3)

A. By searching

B. By navigating from the Implementation Project

C. By navigating from the Welcome Springboard

D. By navigation to an offering's functional area

Correct Answer: A,B,D

Question 3

A furniture store is running a promotion for a toaster with the purchase of a sofa or chair set. Data about the free toaster is not captured in any upstream application.
How should you handle this scenario In Revenue Management?

A. Define an Implied Performance Obligation Template to automatically add a performance obligation for the toaster.

B. Define an adhoc rule in the Revenue Price Profile to include the toaster.

C. Create the performance obligation for the toaster manually.

D. Ignore the performance obligation for the toaster because it was free of cost to the customer.

Correct Answer: A

Question 4

A corporation wants to use any potential values In a segment of their Pricing Dimension Structure, as long as those values do not exceed a length of 50 characters.
Which validation type must be selected when defining this Value Set?

A. Subset

B. Format Only

C. Independent

D. Table

E. Dependent

Correct Answer: B

Question 5

What does a Variable Consideration require?

A. an estimate of the consideration be made at inception only

B. an estimate of the consideration be made at Inception, and corrections of the accrual at made at each period end until revenue Is recognized

C. that the consideration be monetary

D. a disclosure be made to the shareholders

Correct Answer: A

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Question 6

You define a Performance Obligation Identification Rule that uses the following matching attribute to group source document lines:
Extensible Line Character Attribute 7
Based on the data displayed:

A. 4

B. 3

C. 1

D. 2

Correct Answer: B

Question 7

Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?

A. You accrue for goods and services that you owe to customers because either you or they have relied on the contract. You no longer defer revenue.

B. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.

C. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.

D. You value the accrual at estimated consideration and it is a monetary debt.

E. You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.

Correct Answer: A

Question 8

Which method is used to allocate total transaction price across performance obligations in Revenue Management?

A. Alternative Allocation Method

B. Inverted Allocation Method

C. Residual Allocation Method

D. Two Step Allocation Method

E. Relative Allocation Method

Correct Answer: D

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Oracle Revenue Management Cloud Service 2020 Implementation Essentials (1Z0-1059-20) Free Practice Test