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Oracle 1z0-1057-22 exam covers topics such as project management, project planning, risk management, project team management, and project budgeting. Candidates must demonstrate their proficiency in these areas to pass the exam. Oracle Project Management Cloud 2022 Implementation Professional certification provides a comprehensive understanding of the Oracle Project Management Cloud 2022 solution, enabling professionals to plan, manage, and execute successful projects.
NEW QUESTION # 54
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 only if there are accounted receipt lines.
- 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 by Cost Management and not by Payables.
Answer: C,D
NEW QUESTION # 55
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 only if there are accounted receipt lines.
- 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 by Cost Management and not by Payables.
Answer: C,D
Explanation:
When the Accrue at Receipt option is set to Yes on a PO, the cost of the items or services is accrued when they are received, not when they are invoiced. Therefore, the cost is transferred to projects by Cost Management and not by Payables. However, if the PO is closed for receiving without creating a receipt, there will be no accounted receipt lines and no cost will be transferred to projects. To transfer the cost to projects, you need to either create a receipt or reopen the PO for receiving. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2355855
NEW QUESTION # 56
Your organization performs revenue recognition based on the Labor and Non-labor Burden schedule types. Identify the setup required to enable this kind of revenue recognition. (Choose the best answer.)
- A. Create a revenue method classification with a revenue method of Percent Complete.
- B. Create a revenue method with a revenue method classification of Rate Based.
- C. Create a revenue method with a revenue method classification of Amount Based.
- D. Create a revenue method classification with a revenue method of Percent Spent.
Answer: B
Explanation:
To perform revenue recognition based on the Labor and Non-labor Burden schedule types, you need to create a revenue method with a revenue method classification of Rate Based. This classification allows you to use the burdened cost rates of labor and non-labor resources as the basis for revenue recognition. The burdened cost rates are derived from the burden schedules that are assigned to the project or task. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-revenue.html#OAPFM2355981
NEW QUESTION # 57
You want to export your project plan to Oracle Project Financial Management Cloud after initial scheduling is complete in Microsoft Projects. Identify three conditions that must be met for exporting milestone tasks. (Choose three.)
- A. lowest-level tasks set up with zero duration
- B. percent work complete values of 0 or 100 percent
- C. only one labor resource assignment with 100 effort
- D. lowest-level tasks set up with non-zero duration
- E. only one labor resource assignment with 0 effort
Answer: A,B,E
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapex/define-project-management-configuration.html#OAPEX1357147 Topic - Microsoft Project Prevalidation: Explained The following table describes Prevalidation rules for tasks and resource assignments.
Level
Rule
Lowest-level tasks
One labor and multiple expense resources are allowed for a lowest-level task. Remove other resources.
Summary tasks
Only one labor resource with zero allocation is allowed for a summary task. Remove all other resources.
Milestone tasks
No subtasks are allowed under milestone tasks. Milestones must be lowest-level tasks.
Milestone tasks
Milestone tasks must have zero duration.
Milestone tasks
Only one labor resource, with zero effort, is allowed for a milestone task. Remove all other resources.
When exporting milestone tasks, ensure that the tasks:
Are lowest-levels task with zero duration, that is, the same start and finish dates.
Have only one labor resource assignment with zero effort.
Have percent work complete values of 0 or 100 percent. Any other values are set to zero before export.
NEW QUESTION # 58
Your company creates a separate project for infrastructure services, so as to track these costs separately and then allocate to various projects that use the services of the infrastructure team. You want to allocate these costs by first attributing a fixed percentage of the source amount to each project and then spread it across tasks based on the actual labor hours charged to each task.
Which allocation basis method would you use to meet this requirement? (Choose the best answer.)
- A. target percentage and spread evenly
- B. spread evenly
- C. target percentage and prorate
- D. prorate
Answer: C
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapjc/allocate-project-costs.html#OAPJC94831 Spread Evenly The allocation rule divides the source pool amount equally among all the chargeable target tasks included in the rule. This is the most simple and direct basis method.
Target Percentage and Spread Evenly
Specify the percentage of the source pool that is required to allocate to each target line. The total specified target percentage must always equal 100 percent. The allocation rule calculates the amount to allocate to the target line, and then spreads the results evenly among the chargeable tasks.
Prorate
The allocation generation uses the attributes defined in the allocation rule to derive the rate at which the source pool amount is apportioned among the target projects and tasks. For this basis method, the allocation rule uses the basis attributes to apportion the source amount among all the tasks defined by the rule. The Prorate basis method provides precise control over how the rule distributes the source pool.
Target Percentage and Prorate
The allocation rule first uses the target percentage to calculate the amount to allocate to the line, and then apportions the results among all the tasks. The Target Percentage and Prorate basis method provides precise control over how the rule distributes the source pool.
NEW QUESTION # 59
Which precedence order is used by the system for labor schedules to distribute payroll cost?
- A. Assignment Element > Element > Assignment
- B. Assignment > Element > Assignment Element
- C. Assignment > Assignment Element > Element
- D. Element > Assignment Element > Assignment
Answer: C
Explanation:
The precedence order that is used by the system for labor schedules to distribute payroll cost is Assignment > Assignment Element > Element. This means that the system first looks for a labor schedule that is assigned to the employee assignment, then for a labor schedule that is assigned to the payroll element of the employee assignment, and finally for a labor schedule that is assigned to the payroll element itself. The system uses the first labor schedule that it finds in this order to distribute the payroll cost to projects and tasks based on the hours and rates defined in the schedule. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356121
NEW QUESTION # 60
Stigma consulting has been hired by a client to implement Project Management Cloud. Which role should they assign to a user for using the rapid implementation feature to set up the Project Financial Management offering by populating and uploading a Microsoft Excel workbook?
- A. Project Integration Specialist
- B. Project Administrator
- C. Project Executive
- D. Project Application Administrator
Answer: A
Explanation:
The Project Integration Specialist role should be assigned to a user for using the rapid implementation feature to set up the Project Financial Management offering by populating and uploading a Microsoft Excel workbook. This role allows the user to access the Functional Setup Manager and perform the common setups for project costing and billing using predefined templates and spreadsheets. The user can also monitor and validate the setup data using reports and dashboards. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356151
NEW QUESTION # 61
While creating a new project template, you notice that a default Asset Cost Allocation method is being automatically associated. Identify the source setup from which the default value is being inherited. (Choose the best answer.)
- A. project classification
- B. project type
- C. project unit
- D. project organization
Answer: B
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/define-project.html#OAPJF220111 Asset Cost Allocation Methods The asset cost allocation method determines how indirect or common costs incurred on a project are allocated to multiple assets.
You can specify an asset cost allocation method to enable Oracle Fusion Project Costing to automatically allocate unassigned asset lines and common costs across multiple assets. Unassigned asset lines typically occur when more than one asset is assigned to an asset grouping level.
Projects and project templates inherit a default asset cost allocation method from the associated project type. You can override the default at the project level. If you use capital events to allocate costs, then you can also override the asset cost allocation method at the event level Asset Cost Allocation Methods The following table describes the available asset cost allocation methods.
Method
Basis of Cost Allocation
Actual Units
Number of units defined for each asset
Current Cost
Construction-in-process (CIP) cost of each asset
Estimated Cost
Estimated cost of each asset
Standard Unit Cost
Combination of the standard unit cost and the number of units defined for each asset Spread Evenly Equal allocation of cost to each asset
NEW QUESTION # 62
Which four standard objects can you configure to include business specific attributes by using Application Composer for Project Execution Management? (Choose four.)
- A. Project Resource Assignment
- B. Project Issues
- C. Project Gates
- D. Project Deliverables
- E. Project Milestones
- F. Project Resource Request
Answer: A,C,D,E
NEW QUESTION # 63
In your customer site, the capitalized interest calculation is implemented on their project types. Which option represents the costs considered in the interest calculation? (Choose the best answer.)
- A. expenditure items whose costs are applied to a single asset or multiple assets
- B. expenditure items whose cost spreads across multiple assets that are capitalized
- C. expenditure type exclusions on the Capitalized Interest rate schedules
- D. common costs on the project/task
- E. expenditure type exclusions on the Capitalized Interest rate name
Answer: A
Explanation:
Reference https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_988B43C997365159E040D30A68813832
https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49622/F1125377AN61D92.htm
NEW QUESTION # 64
You have been asked to set up one active person, who is not a team member in the project, as a quality manager for each quality task created under projects. However, when you try to assign the quality manager as Task Manager, you cannot find the person's name in the list of values. What is the reason for this problem? (Choose the best answer.)
- A. The "Require Task Managers to be Project Team Members" profile option is set to Yes.
- B. The quality manager belongs to a department that is not associated with the project.
- C. The quality manager is not assigned with a supervisor.
- D. The "Require Task Managers to be Project Team Members" profile option is set to No.
Answer: A
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/fapfm/introducing-oracle-project-portfolio-management-cloud-services.html#FAPFM428138 Topic - Project Foundation Profile Options Profile Option Name - Task Managers Must Be Project Team Members Description - Specify whether task managers must be project team members.
Values - No (Default) / Yes
Setup Task Name - Require Task Managers to be Project Team Members
NEW QUESTION # 65
Your customer wants additional project information for detailed account balance maintenance, reconciliation, and reporting. Identify the configuration in subledger accounting that can be set up to fulfill this requirement. (Choose the best answer.)
- A. Journal Rules
- B. Supporting Reference
- C. Accounting Method
- D. Accounting Rule
- E. Mapping Sets
Answer: B
Explanation:
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125357.htm#OAPFM1125357 Assignment of Supporting Reference Supporting references may be used to capture transaction values on journal entry lines. A supporting reference can be used on a journal entry rule set only if it's assigned a source from the event class of the journal entry rule set.
Creating Supporting Reference: Explained
Supporting references are used to store additional source information about a subledger journal entry at the line level.
Supporting references with balances establish subledger balances for a particular source and account for a particular combination of supporting references plus the account combination.
For example:
If a journal line contains a supporting reference that includes two sources, Customer Type and Customer Name.
Balances are created for the account combination, plus customer name and customer type.
Examples of how you may want to use supporting reference balances are to:
Facilitate reconciliation back to the subledgers and source systems by tagging journal entries with transaction and reference attributes.
Create balances by dimensions not captured in the chart of accounts.
Reporting using dimensions not captured in the chart of accounts.
Enrich Oracle Fusion Business Intelligence Applications reporting on subledger journals.
Profit and loss balances by dimensions not captured in the chart of accounts Define supporting references to hold additional supporting information for detailed account balance maintenance or reconciliation and reporting requirements.
NEW QUESTION # 66
Your customer has implemented Oracle Project Portfolio Management Cloud recently and they have hired new employees for their Professions Services business. These employees are set up in Oracle Human Capital Management Cloud, but the Project Administrators are unable to add them as resources in the Planning Resource Breakdown Structure.
What are three conditions for new employees to show up in the list? (Choose three.)
- A. All new employees created as persons must have an active project role.
- B. Current date is before the effective date of the resource, and you did not enable the "Include people with future-dated effective start dates" option during the search.
- C. All new employees created as persons must have an active supervisor.
- D. All new employees created as persons must be assigned to a department.
- E. All new employees created as persons must have an active assignment.
Answer: B,D,E
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-foundation-configuration-define-project-resource-breakdown-structures.html#OAPFM180158_2 Why can't I find persons in the list of resources when I enter team members, planning resources, or person rate schedules?
You can't find persons in the list of resources when you enter team members, planning resources, or person rate schedules in the following situations:
The administrator didn't assign a department while creating users. Persons must have an active assignment and be assigned to a department in Oracle Fusion Human Capital Management before they can be added as team members or entered as resources on the planning resource breakdown structure or person rate schedule.
The resource isn't active in Oracle Fusion Human Capital Management because the current date is before the effective date of the resource. If you want to include persons who will start in the future, select the Include people with future-dated effective start dates option when you search for the person.
Persons assigned as project managers aren't active as of the project start date.
The assignment of the person is terminated, and an appropriate value isn't set for the number of days to display people with terminated assignments. You can set the profile value appropriately at the site profile level using the Specify Number of Days to Display People with Terminated Assignments task in the Setup and Maintenance work area.
NEW QUESTION # 67
While opening an organization tree on the Manage Organization Trees page, you notice that the hierarchy status is displayed as Inactive. Identify the two reasons for the organization tree to be in Inactive status. (Choose two.)
- A. You used Create Tree in the action menu.
- B. You used Create Tree Version in the action menu.
- C. You used View Tree Version in the action menu.
- D. You selected the Edit icon for opening the hierarchy.
- E. You opened the hierarchy by clicking the name.
Answer: A,D
NEW QUESTION # 68
Where should you specify the Default Capitalized Interest Rate Schedule?
- A. Manage Project Plan Type page
- B. Manage Expenditure Type page
- C. Manage Capitalized Interest Rates page
- D. Manage Project Type page
- E. Manage Capitalized Interest Rate Schedules page
Answer: D
Explanation:
The Default Capitalized Interest Rate Schedule should be specified on the Manage Project Type page. This option allows you to select a capitalized interest rate schedule that will be used as the default for projects or tasks that use the project type. A capitalized interest rate schedule defines the interest rates and dates that are used to calculate the capitalized interest amount for a project or task. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356101
NEW QUESTION # 69
Your organization has a requirement to create and apply a new theme for the application user interface.
Which option allows you to achieve this requirement?
- A. Structure Page
- B. Appearance Page
- C. User Interface Text
- D. Setup and Maintenance Work Area
Answer: B
NEW QUESTION # 70
Your organization has been awarded a new contract based on which you are allowed to sell:
Items not tracked in inventory
Inventory items
Services
Which contract structure would fulfill your requirement of item sales? (Choose the best answer.)
- A. Create two contract lines with a line type each of "sell intent, item, project-based' and "subscription, project-based, sell".
- B. Create two contract lines with a line type each of "free-form, project-based buy agreement" and "bundle sell, project-based".
- C. Create two contract lines with a line type each of "product, project-based, sell agreement, standalone" and "sell intent, item, project-based".
- D. Create two contract lines with a line type each of "sell intent, free-form, project-based" and "sell intent, item, project-based".
Answer: D
NEW QUESTION # 71
Which four notification templates are predefined?
- A. Password Reset Template
- B. Forgot Password Template
- C. Forgot Username Template
- D. New Account Template
- E. New Account Manager Template
Answer: A,C,D,E
Explanation:
https://docs.oracle.com/en/cloud/saas/sales/18c/oscus/setting-up-applications-security.html#OSCUS2287154 Predefined Notification Templates Notification Template Description Password Expiry Warning Template Warns the user that a password is expiring soon and provides instructions for resetting the password.
Password Expiration Template
Notifies the user that a password has expired and provides instructions for resetting the password.
Forgot User Name Template
Sends the user name to a user who requested the reminder.
Password Generated Template
Notifies the user that a password has been generated automatically and provides instructions for resetting the password.
Password Reset Template
Sends a reset-password link to a user who requested a new password.
Users can request new passwords by selecting the Forgot Password link on the application Sign In page, or by selecting the Password option on the Preferences page (Settings and Actions > Set Preferences).
Password Reset Confirmation Template
Notifies the user when a password has been reset.
New Account Template
Notifies a user when a user account is created and provides a reset-password link.
New Account Manager Template
Notifies the user's manager when a user account is created.
When you create a user category, it's associated automatically with the predefined notification templates, which are all enabled.
You can't edit the predefined templates. However, you can create templates and disable the predefined versions. Each predefined event can be associated with only one enabled notification template at a time.
NEW QUESTION # 72
As part of maintaining (importing new employees that were added last week) project enterprise labor resources in your organization, you submit the Maintain Project Enterprise Labor Resources process to create and update resources based on changes In HCM. You define maintenance conditions on the Manage Project Enterprise Labor Resource page to process both employees and contingent workers.
Which three are parameters that are based on which the system identifies the new resources?
- A. Project Unit
- B. Organization
- C. Jobs
- D. Business Unit
- E. Department
Answer: B,C,D
Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/fapfm/implementing-project-execution-management-applications.html#FAPFM1718570 Topic - Manage Maintenance Conditions for Project Enterprise Labor Resource
NEW QUESTION # 73
Your client uses Resource Breakdown Structures (RBS) and Resource Mapping to associate amounts to resources. After making some changes to the resources at project level, forecasts are regenerated. After reviewing the cost amounts associated with the resources, you suspect that the cost association does not match your client's expectations. Identify two valid rules based on which cost association works. (Choose two.)
- A. If a transaction maps to more than one level, Oracle PPM Cloud sums the precedence numbers for all resource type in the branch and gives precedence to the resource element in the branch with the highest sum.
- B. If one branch contains a user-defined resource type, precedence is given to the branch that contains a user-defined resource type.
- C. If the sum of precedence numbers is the same for more than one branch, precedence is given to the branch with the lowest number at the lowest level.
- D. If there is only one level in RBS to which the transaction maps, the cost amounts are mapped to that level.
Answer: C,D
Explanation:
Reference https://docs.oracle.com/cd/E37583_01/doc.1116/e22598/F458900AN13D82.htm How Resource Mapping Is Calculated You can track the cost impact of every resource that has been assigned to a project task and use the resource breakdown structure to view the breakdown of these costs. Oracle Fusion Projects associates the costs of the resources used for tasks with branches and levels in the resource breakdown structure. The process for determining the correct association is managed by rules of precedence.
Oracle Fusion Projects uses the following rules to associate cost amounts with resources:
Select the lowest level in the resource breakdown structure to which a transaction can map.
If there is only one level to which the transaction maps, the cost amounts are mapped to that level.
If the transaction maps to more than one level, Oracle Fusion Projects sums the precedence numbers for all resource types in the branch and gives precedence to the resource element in the branch with the lowest sum.
If more than one branch has the lowest precedence number at the lower level, the application uses the precedence number of the next level up.
If the sum of precedence numbers is the same for more than one branch, precedence is given to the branch with the lowest number at the lowest level.
If one branch contains a user-defined resource type, precedence is given to the branch that does not contain a user-defined resource type.
Note Oracle Fusion Projects gives more precedence to a lower precedence number. For example, a resource element with a precedence number of 1 is given precedence over a resource element with a precedence number of 10.
NEW QUESTION # 74
Which three are project gate statuses? (Choose three.)
- A. Approve
- B. In Review
- C. Open
- D. Closed
- E. Draft
Answer: B,C,D
Explanation:
Project gate statuses are values that indicate the progress or completion of a project gate. A project gate is a checkpoint that marks the end of a phase or stage in a project lifecycle. Three of the project gate statuses are:
Open: This status indicates that the project gate is not yet ready for review or approval.
In Review: This status indicates that the project gate is under review or approval by the gate reviewers or approvers.
Closed: This status indicates that the project gate has been reviewed or approved and the project can move to the next phase or stage. Approve and Draft are not project gate statuses, but actions that can be performed on a project gate. Approve is an action that allows a gate approver to approve a project gate and change its status to Closed. Draft is an action that allows a gate owner to create or edit a project gate and change its status to Open. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-execution.html#OAPFM2356251
NEW QUESTION # 75
Which three Cost Collection Flexfield core attributes can be derived during import if not explicitly entered in a transaction document? (Choose three.)
- A. Funding Source
- B. Billable Flag
- C. Capitalizable Flag
- D. Expenditure Type
- E. Work Type
Answer: B,C,D
Explanation:
The Cost Collection Flexfield is a descriptive flexfield that captures additional information about project costs. It has three core attributes that are required for every cost transaction: Billable Flag, Expenditure Type, and Capitalizable Flag. These attributes can be derived during import if not explicitly entered in a transaction document, based on various rules and sources such as expenditure type defaults, project type defaults, transaction source defaults, etc. Funding Source and Work Type are not core attributes of the Cost Collection Flexfield, but context-sensitive segments that can be optionally enabled for certain transaction sources or business units. These segments capture additional information about how the costs are funded or what type of work is performed. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-costs.html#OAPFM2356141
NEW QUESTION # 76
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