Oracle Risk Management Cloud 2018 (1Z1-958) Free Practice Test

Question 1

The internal auditor advised the Control Owner of North America to perform assessment for two P2P controls.
Which three steps can the Control Owner perform to kick-off assessments for only those two controls?
(Choose three.)

A. Perform impromptu assessments for the two controls.

B. Initiate a planned assessment that includes all controls assigned to perspective P2P.

C. Enable impromptu assessments during configuration of module objects.

D. Initiate two planned assessments, one for each control.

E. Initiate a planned assessment and include the two controls as part of the same assessment.

Correct Answer: B,C,D

Question 2

When you view or edit a transaction incident, you may see extra columns that are not present in the business objects used in the control.
What three kinds of control logic or conditions can cause this? (Choose three.)

A. Equals (when the same attribute is used on both sides of the condition)

B. Average Function

C. Not in

D. Similar

E. Between (when using a date attribute)

Correct Answer: B,C,E

Question 3

At the last step of initiating assessments, the assessment manager sees who the assessment participants are (to complete, review, and approve the assessments). If the assessment manager wants to change the participant, who completes the assessment, what should he or she do?

A. Modify the perspective hierarchy in the last step of initiating assessments.

B. Request the administrator to change the Perspective in Data Security Policy for the Control Manager's job role.

C. It is not possible to change the participants after Data Security Policies are assigned.

D. Modify the participant list in the last step of initiating assessments.

E. Request the administrator to assign Data Security Policies with correct perspectives to the Assessor's job role.

Correct Answer: D

Question 4

You are designing data for data import. The customer decided that they want to secure controls based on their company organization.
Which three worksheets of the import template are required to accomplish this requirement? (Choose three.)

A. Perspective-Control

B. Perspective Items

C. Control Test Plans

D. Controls

Correct Answer: B,C,D

Question 5

You are validating your customer's import template before import. The customer requires that all controls be set up so they are noted to be used for the Audit Test assessment type. How do you verify that this has been done?

A. The Assessment Flag and the Audit Testing Flag are both set to "Y."

B. The Control status filed is set to "Audit Test."

C. The Control has a related process.

D. The Control comment filed has a notation for "Audit Test."

Correct Answer: C

Question 6

Your client has configured separate roles for control assessor and control assessment reviewer. The control assessor has submitted his or her assessment. The control assessor realizes later that he or she has forgotten to attach a critical test evidence document to the assessment and needs to attach it now.
How can this be accomplished?

A. The assessor can request the reviewer to attach the document during the review.

B. On the Manage Assessments page, the assessor can select the assessment and click the Reopen button.
He or she can then attach the document and resubmit the assessment.

C. On the Assessment tab in the Control definition, the assessor can select the assessment and click the Complete Assessment button. He or she can attach the document and resubmit the assessment.

D. The assessor can request the reviewer to reject the assessment. After the assessment is rejected, the assessor can then attach the document and resubmit the assessment.

Correct Answer: B

Question 7

A. What needs to be done to fix the mapping?

B. Option D

C. Option C

D. Option A

E. Option B

Correct Answer: E

Question 8

You have scheduled quarterly assessments for a Control object at the beginning of the year with future dates.
However, the test plans associated with the Control object were updated before the assessment could be started. Which statement is true about this scenario?

A. The scheduled assessment process will end in error.

B. The assessment will be associated with the version of the test plans from the time of assessment initiation.

C. The updated test plans will become available during the assessment.

D. The user will have the option to select the older or newer versions of the test plans during the assessment process.

Correct Answer: B

Welcome to TestSimulate

Oracle Risk Management Cloud 2018 (1Z1-958) Free Practice Test