1Z0-1058-20 Online Practice Questions and Answers

Which three are true about implementing a best practice solution for Financial Reporting Compliance? (Choose three.)

A. Large scope of project requires high effort for maintenance and administration.

B. It promotes rapid implementation and go-live.

C. It promotes go-live with minimal acceptance testing and user training.

D. It provides maximum return on investment with minimum project risk.

E. It promotes successful adoption and minimizes on-going cost of operation.

Which controls can user A manage for the following Control Manager role Configuration? See details of perspective trees and control-perspective association below.

A. All controls

B. Controls 2 and 4

C. Controls 1, 2, and 4

D. None

E. Controls 1 and 2

Which filter can be used to identify expense reports that contain suspicious expense type combinations, such as, a report for a single trip that contains taxi, car rental, and mileage expenses?

A. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "Equals" condition for values that include taxi, car, mileage.

B. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "In" condition for values that include taxi, car, mileage.

C. Inclusive function filter grouped by the "Expense Report Information" object's "Person" where the "Expense Type" has an "In" condition for values that include taxi, car, mileage.

D. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "In" condition for values that include taxi, car, mileage.

E. Inclusive function filter grouped by the "Expense Report Information" object's "Person" where the "Expense Type" has an "In" condition for values that include taxi, car, mileage.

After generating an XML file export of Advanced Controls perspectives, you receive a message that the

export job has been generated.

What are the three steps you need to perform in order to download and review the formatted export file?

(Choose three.)

A. Open with an XML editor, such as Excel.

B. Navigate to Monitor Jobs and click the message link for the export job.

C. Click the Item Results link.

D. Click the Export File button.

E. Open with an HTML editor.

Which three tasks should be completed before starting the Financial Reporting Compliance implementation? (Choose three.)

A. Migrate the organization's existing risk and control matrix into Financial Reporting Compliance.

B. Complete control review and assessment for one period/cycle with the actual business owners.

C. Create a project plan with objectives, goals, and exit criteria.

D. Identify Financial Reporting Compliance users for everyday use, administration, and sustained use.

E. Plan to go-live with a simple scope and later expand the solution to include additional business units/ organizations/compliance frameworks.

After adding a new control in Financial Reporting Compliance, the control owner clicks Submit. Users with

the Control Reviewer and Control Approver roles exist.

What is the expected outcome?

A. The control goes into the "Waiting for Approval" state.

B. The control goes into the "New" state.

C. The control goes into the "Approved" state.

D. The control goes into the "In Review" state.

You are configuring security and you do not want the risks to go through the review and approve process each time they are updated. How will you meet this requirement?

A. Add the Risk Reviewer Composite duty role to the person who creates the risks so he or she would be able to review them before saving the record.

B. Use only the Risk Approver Composite duty role in the configurations so the risks will not go through the review process.

C. Ensure that only the upper management is given the Risk Reviewer Composite duty role so they could review the risks that they want to review.

D. Ensure that no user has been assigned a job role that includes the Risk Reviewer Composite or Risk Approver Composite Duty Role.

You want to identify Controls with the most Incidents, with the condition that the identified Controls should

have 80% of all Incidents. To do this, you have imported a custom object that contains the number of

incidents associated with each control, and have added that object to a transaction model.

Which pattern filter must you now apply?

A. Anomaly Detection

B. Mean

C. Pareto

D. Absolute Deviation

E. Clustering

You can relate objects in Financial Reporting Compliance. Which statement is true about editing or creating related objects in the Related Objects section on the Risk Definition page?

A. You can relate only process objects.

B. You can relate a new process and a new control.

C. You can relate only control objects.

D. You can relate only an existing control, but not a new control.

The control manager needs to associate an existing test plan to an additional assessment type, Audit Test.

The existing test plan is associated only with the Design Review assessment type.

How can this be accomplished?

A. The control manager should create a new test plan with Audit Test and Design Review as assessment types.

B. The control's test plan should be updated to include both Audit Test and Design Review as assessment types.

C. The control manager does not need to update the control because any initiated assessment will include all control test plans.

D. The control's test plan should be updated to Audit Test as the assessment type.