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Oracle 1z0-1057-22 exam is designed for professionals who want to demonstrate their expertise in implementing Oracle Project Management Cloud 2022. It covers a wide range of topics such as project planning, resource management, risk management, financial management, and project collaboration. 1z0-1057-22 exam is intended for professionals who have experience in Oracle Project Management Cloud and want to validate their skills and knowledge.
NEW QUESTION # 59
Your business user has created a purchase order (PO) that has the following attributes:
Accrue at Receipt = Yes
Matching Option = 2 way
Receipt Close Tolerance = 100%
After approval, the PO is closed for receiving without creating a receipt. An AP invoice is created by matching to the PO. The user now runs Create Accounting for Receiving Transactions and then the "Import and Process Cost transactions" ESS (Enterprise Scheduler Service) job using the Transaction Source parameter as "Oracle Payables". The user notices that there is no cost transferred to the projects. Identify two reasons for this problem. (Choose two.)
- A. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, cost is transferred to project by payables.
- B. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to NO, cost is transferred to projects by receipt accounting.
- C. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to YES, cost is transferred to projects by Cost Management and not by Payables.
- D. When you have an AP invoice that is matched against a PO with Accrue at Receipt set to Yes, cost is transferred to projects only if there are accounted receipt lines.
Answer: C,D
NEW QUESTION # 60
Stigma Consulting wants to implement the program management capability to coordinate and track their strategic programs.
Which three components are required to configure the program options as part of implementing the program management capability? (Choose three.)
- A. Calendar
- B. Currencies
- C. Derivation Methods
- D. Accounting Methods
- E. Calculation Methods
Answer: A,C,E
Explanation:
Program management is a capability that allows you to coordinate and track multiple related projects and tasks as part of a strategic program. To configure the program options as part of implementing the program management capability, you need to define three components:
Calendar: This component allows you to specify the calendar that is used to calculate the dates and durations for the program and its projects and tasks.
Calculation Methods: This component allows you to specify the methods that are used to calculate the progress, performance, and variance measures for the program and its projects and tasks based on various sources and formulas.
Derivation Methods: This component allows you to specify the methods that are used to derive the attributes and values for the program and its projects and tasks based on various rules and conditions. Currencies and Accounting Methods are not components that are required to configure the program options. Currencies are used to define the currency conversion rates and rules for the program and its projects and tasks. Accounting Methods are used to define the subledger accounting rules and options for the program and its projects and tasks. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-programs.html#OAPFM2356261
NEW QUESTION # 61
Identify the precedence order in which cost rates are determined for a planning resource when deriving raw costs for rate-based planning resources. (Choose the best answer.)
- A. Override rate > Person rate schedule > Job rate schedule > Resource class rate schedule
- B. Override rate > Job rate schedule > Resource class rate schedule > Person rate schedule
- C. Job rate schedule > Resource class rate schedule > Override rate > Person rate schedule
- D. Person rate schedule > Job rate schedule > Resource class rate schedule > Override rate
- E. Resource class rate schedule > Override rate > Job rate schedule > Person rate schedule
Answer: A
Explanation:
Reference https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_8718794B26A7BB93E040D30A688149A3
NEW QUESTION # 62
Your client has decided to import time cards into Project Costing from Oracle Fusion Time and Labor. They have a requirement to make adjustments to time card entries whenever needed.
In which work area will the employees and contingent workers be able to modify their time cards?
- A. Cost
- B. Both Time and Cost
- C. Time
- D. Asset
Answer: C
Explanation:
The employees and contingent workers will be able to modify their time cards in the Time work area. This work area allows them to enter, review, edit, and submit their time cards for approval. They can also view the status and history of their time cards and make corrections as needed. The Time and Cost work area allows the project managers and cost accountants to review, adjust, and transfer time card transactions to projects and tasks. The Asset work area allows the asset managers and cost accountants to review, adjust, and transfer asset transactions to Oracle Fusion Assets. These work areas are not used by the employees and contingent workers to modify their time cards. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-time-and-labor.html#OAPFM2356221
NEW QUESTION # 63
You are managing a project based on a Waterfall model. You define a project and a project plan in Oracle Project Portfolio Management with tasks and subtasks applicable to each of the phases of the project: Initiation, Discovery, Design, Build, Test, and Deploy. As a project manager, you want to define deliverables for your project requirements that are elucidated during the Discovery phase of your project. You now want to understand how the inheritance between requirements, tasks, and deliverables works. Identify the two correct statements in this respect. (Choose two.)
- A. You associate a deliverable with a task, independent of associating a requirement with a task.
- B. The association of a deliverable with a task is dependent on associating a requirement with a task.
- C. A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.
- D. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
Answer: A,D
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapem/define-project-deliverables.html#OAPEM1122079 Associate deliverables with one or many tasks or requirements at any level. Associate existing deliverables to tasks or requirements or create deliverables directly for tasks or requirements. You can delete a deliverable in New status if it is not associated with tasks or requirements.
Can deliverables for projects and tasks be inherited from associated requirements?
No. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
You associate a deliverable with a task, independent of associating a requirement with a task.
NEW QUESTION # 64
Your customer has a requirement to import and process third-party transactions that are "costed" and "accounted".
Which configuration option needs to be set satisfy the requirement? (Choose the best answer.)
- A. Import Options
- B. Document Options
- C. Transaction Source Options
- D. Document Entry Options
Answer: C
Explanation:
Reference https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJC/F1071488AN1004C.htm To import and process third-party transactions that are costed and accounted, you need to set the Transaction Source Options for the transaction source that you use to import the transactions. The Transaction Source Options allow you to specify whether the transactions are costed and accounted by the source system or by Oracle Fusion Cost Management. You can also specify whether to validate and transfer costs and accounting entries to projects and general ledger. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2355941
NEW QUESTION # 65
You cannot generate invoices for a project expenditure item. After running the Generate Invoices program for a billable expenditure item and active contract, the process completes successfully but without any billing, and does not provide any error logs.
The program's processing summary is as follows:
Billing Event Errors 0
Ineligible Contracts 0
Successfully Billing Events Created 0
Ineligible Contract Lines 0
Billing Transaction Exception Errors 0
Ineligible Bill Plans 0
Billing Transaction Exception Warnings 0
Ineligible Associated Projects 0
Successful Billing Transactions 0
Ineligible Expenditure Items 0
Draft Invoice Exception Errors 0
Ineligible Events 0
Draft Invoice Exception Warnings 0
Successful Draft Invoices 0
What was the invoice method classification set to that caused this behavior? (Choose the best answer.)
- A. Amount Based
- B. Percent Complete
- C. As Incurred
- D. Rate Based
Answer: A
Explanation:
Reference https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJB/F1087458AN139C2.htm Topic - Invoice and Revenue Rates: How They Are Determined Oracle Fusion Project Billing uses bill rates, burdening, and transfer price schedules to derive standard bill rates, multipliers, markups, and bases for calculating potential revenue when the revenue method classification on a revenue plan is as billed, as incurred, or rate based. Similarly, bill rates derive invoice amounts when the invoice method classification on a bill plan is rate based.
NEW QUESTION # 66
You have defined two expenditure types, but they are not available for selection when you enter an expenditure batch. Identify the reason for this problem. (Choose the best answer.)
- A. The two expenditure types are not assigned to the reference data set that is assigned to the project-owning organization in which the transaction is performed.
- B. The two expenditure types are not assigned to the reference data set that is assigned to the project expenditure organization in which the transaction is performed.
- C. The two expenditure types are not assigned to the reference data set that is assigned to the project unit in which the transaction is performed.
- D. The two expenditure types are not assigned to the reference data set that is assigned to the business unit in which the transaction is performed.
Answer: C
Explanation:
Ref: Implementing-Project-Financial-Management-and-Grants-Management.pdf (19A Part # F11256-01) Chapter 3 - Define Project Organizations Topic - Set Assignments and Project Data - How They Work Together (Page 29) Business Unit as Set Determinant Business units enable you to control and report on financial transactions, usually for specific geographical entities within the enterprise. For project management purposes, assign the Project Accounting business function to the business unit.
Business unit is a set determinant for the project-related reference data objects described in the following table.
Ref Data Object
Entities
Project Accounting Definition
Project Types
Project Rates
Project rate schedules
Project Unit as Set Determinant
Use project units to enforce consistent project management practices across your enterprise. Project unit is a set determinant for the reference data objects described in the following table.
Ref Data Object
Entities
Project Definition
Class codes, financial plan types, project plan types and project roles Project Transaction Types Expenditure types and work types You can only select class codes, plan types, roles, expenditure types and work types that are assigned to the same set as the project unit. To enable expenditure types and work types for use on projects owned by a project unit, assign the set associated with the Project Transaction Types reference data object to those entities
NEW QUESTION # 67
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 you to use the manage setup data entry in bulk option.
- B. Implementation Project gives you the flexibility to set up different functional areas of the offering at different times.
- C. Implementation Project helps you to monitor progress of the setup tasks.
- D. Implementation Project helps in assigning responsibility of managing setup data to a broad group of users.
Answer: C,D
Explanation:
Some of the main benefits of using the implementation projects within Functional Setup Manager are:
Implementation Project helps in assigning responsibility of managing setup data to a broad group of users. You can assign tasks to different users who are responsible for entering and validating setup data for different functional areas of the offering.
Implementation Project helps you to monitor progress of the setup tasks. You can track the status and completion percentage of each task and view the dependencies and prerequisites among tasks. Implementation Project does not give you the flexibility to set up different functional areas of the offering at different times, as this is determined by the configuration package that you select for your implementation. Implementation Project does not help you to use the manage setup data entry in bulk option, as this is a separate feature that allows you to import and export setup data across instances using spreadsheets. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356051
NEW QUESTION # 68
Identify the three contract attributes from Project Performance Data that are used in Project Performance dashboard regions. (Choose three.)
- A. Task
- B. Contract Header
- C. Contract Line
- D. Projects
- E. Expenditure Type
Answer: A,C,D
Explanation:
Reference https://docs.oracle.com/cloud/farel9/projectcs_gs/FAUAR/F1537947AN10251.htm
NEW QUESTION # 69
A consulting services company is currently working on a business transformation project for your client, which spans multiple years. At the first period close, the consulting services company has recognized revenue and the accounting entry created is:
Dr Unbilled Receivables 40,000
Cr Revenue 40,000
At the end of the period, the client is sent an associated bill. What would be the corresponding invoice accounting entry? (Choose the best answer.)
- A. Dr Unearned Revenue 40,000Cr Revenue 40,000
- B. Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000
- C. Dr Accounts Receivables 40,000Cr Revenue 40,000
- D. Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000
Answer: B
NEW QUESTION # 70
Where should you specify the Default Capitalized Interest Rate Schedule?
- A. Manage Capitalized Interest Rates page
- B. Manage Expenditure Type page
- C. Manage Project Plan Type page
- D. Manage Capitalized Interest Rate Schedules page
- E. Manage Project Type page
Answer: D
NEW QUESTION # 71
Your customer started operations and all projects in January 2015. They implemented Enterprise Project Structure for calculating project labor demand by using the Annual option. When they view the labor demand on 15-Dec-2015, the project hierarchy viewer shows data only for the year 2015. The client expected the demand to be shown for a year, from 15-Dec-2015 to 15-Dec-2016.
Identify how the project hierarchy viewer displays labor demand information. (Choose the best answer.)
- A. The project start date of Jan-2015 was used for calculating labor demand, and hence it calculated the demand for the year 2015.
- B. The current period start date is used for calculating labor demand for the current year.
- C. The date entered by a user as a parameter when running the Update EPS job was set to 01-Jan-2015, and hence the calculations show results for the year 2015.
- D. The current date is used for calculating labor demand for the current year.
Answer: D
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapem/analyze-project-management-performance.html#OAPEM1313471 Topic - Project Labor Demand: How It's Calculated Settings That Affect Project Labor Demand Project application administrators must do the following to set up how project labor demand is calculated:
Organize projects into hierarchical groups on the Manage Enterprise Project Structure page.
Change the quarterly FTE hours for the organization on the Define Project Management Implementation Options page, if different from 520 hours.
Note: You can choose to view labor demand annually instead of quarterly. The Project Hierarchy Viewer uses the current date to determine which year or quarter to display.
NEW QUESTION # 72
You create a contract with two contract lines: Line 1 and Line 2. You create separate bill plans: A for contract Line 1 and B contract for Line 2, with a different bill set number (11 for Bill Plan A and 22 for Bill Plan B).
Then Bill Plan A is allocated against Project X - Task 10, and Bill Plan B is allocated against Project Y - Task 30.
Based on the preceding setup, you are generating invoices. Identify two correct statements about invoice generation in this scenario. (Choose two.)
- A. Bill set number drives the grouping of transactions.
- B. Both the contract lines create only a single invoice because they are using the same contract.
- C. Invoice generation does not depend on bill plan. The invoices are created based on the contract line.
- D. Two invoices are created using the same contract.
Answer: A,D
Explanation:
Ref: https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJB/F1087456AN1006D.htm What's a bill set?
Transactions originating from different bill plans with the same bill set number on a contract are included on the same invoice. If a contract has multiple bill plans and each have different values for the bill set, Oracle Fusion Project Billing creates a separate invoice for each bill plan
NEW QUESTION # 73
As you go through the first-quarter close for your customer, you notice that the burden amounts calculated do not seem to be right. Based on the calculations, you notice that the amounts calculated are not considering the burden schedule override at a task level, which was done during the second month of the quarter. Identify the reason for this problem. (Choose the best answer.)
- A. All expenditure items charged to the task use the new burden schedule.
- B. Only new expenditure items charged to the task use the new burden schedule; expenditure items processed earlier cannot be reprocessed.
- C. Only new expenditure items charged to the task use the new burden schedule; expenditure items processed earlier can be manually marked for reprocessing.
- D. You can enable automatic reprocessing of expenditure items processed before the burden schedule change.
Answer: C
Explanation:
Reference https://docs.oracle.com/cloud/r13_update17b/projectcs_gs/OAPJC/OAPJC1071490.htm#OAPJC1071482
NEW QUESTION # 74
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To be eligible for the Oracle 1z0-1057-22 certification exam, candidates must have experience working with Oracle Project Management Cloud 2022. They should also have a solid understanding of project management principles and practices, as well as experience with project management tools and techniques. Candidates should also have experience working with stakeholders, managing project risks and issues, and managing project budgets.
Oracle 1z0-1057-22 certification exam is designed for professionals who want to demonstrate their expertise in implementing Oracle Project Management Cloud solutions. Oracle Project Management Cloud 2022 Implementation Professional certification exam tests candidates on their knowledge of the key features and functionalities of Oracle Project Management Cloud, as well as their ability to configure and manage the solution. Successful candidates will demonstrate their ability to implement Oracle Project Management Cloud solutions in a variety of environments, including on-premises and cloud-based deployments.
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