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Project Financials Management Cloud 1z0-1057-20 Exam Practice Dumps
NEW QUESTION 36
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. common costs on the project/task
- B. expenditure type exclusions on the Capitalized Interest rate name
- C. expenditure items whose costs are applied to a single asset or multiple assets
- D. expenditure items whose cost spreads across multiple assets that are capitalized
- E. expenditure type exclusions on the Capitalized Interest rate schedules
Answer: C
Explanation:
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 37
Your customer wants a team member who is assigned to a project to be able to create and submit a forecast, but not to be able to approve the forecast. What is the default project role that you should assign to the person in the project to meet this requirement? (Choose the best answer.)
- A. Project Accountant
- B. Project Manager
- C. Project Application Administrator
- D. Project Administrator
Answer: D
Explanation:
Explanation
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjm/project-administrator-job-role.ht Project Manager has duty role 'Project Forecast Approval Duty' assigned but Project Administrator has duty role 'Project Forecast Inquiry Duty' - no approval authority Both roles have duty role 'Project Forecast Management Duty' which enables them to Allow creation, submission, update, and deletion of working versions of project forecasts. (Cloud _Roles_Duties.xlsx)
NEW QUESTION 38
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, free-form, project-based" and "sell intent, item, project-based
- 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, item, project-based' and "subscription, project-based, sell".
Answer: A
NEW QUESTION 39
You search for resources to fulfill a project resource request but are unable to proceed after receiving the following error message: "The search for resources cannot be completed because the project resource search index is not available. Contact your help desk." Identify the cause for this error message. (Choose the best answer.)
- A. The index is in the process of being updated.
- B. The index has been built.
- C. The most recent update of the index finished successfully.
- D. The index is not in the process.
Answer: A
Explanation:
Explanation
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/fapfm/implementing-project-execution- Topic - Submitting the Process to Maintain Project Resource Search Index: Procedure Submit the Maintain Project Resource Search Index job set to update the resources that appear on the Search and Evaluate Resources page when a resource manager searches for resources to fulfill project resource requests. The job set consists of a set of processes that facilitate efficient and rapid searches for qualified resources.
Resource managers can't search for resources or view resource details if the search index isn't available for a project resource request with qualifications or keywords. For project resource requests without qualifications and keywords, resource managers can search for and evaluate resources based on resource availability even if the search index isn't current or available.
Caution: The search index isn't available if the Maintain Project Resource Search Index job set process fails, or while the process is running.
NEW QUESTION 40
Which product offering enables non-exclusive relationships between multiple projects and tasks with contracts and contract lines? (Choose the best answer.)
- A. Contract Team Connect
- B. Project Contract-based costing
- C. Project Contract-based billing
- D. Project Contract Collection Center
Answer: C
Explanation:
Explanation
Reference
http://www.oracle.com/us/products/applications/fusion/fusion-proj-port-mang-solut-brief-173079.pdf (Page 2) Flexible Contract-Based Billing Traditional contract and billing systems enforce a rigid relationship between a project and a funding agreement, which can constrain project setup and execution. Oracle Fusion Project Portfolio Management provides a highly flexible approach to project contract-based billing via a non-exclusive relationship between multiple projects and tasks with contracts and contract lines. This means that you will have full control over defining contracts, rates and limits, and when and how to recognize revenue and generate invoices while segregating the planning and execution of your projects.
NEW QUESTION 41
You recently made some changes to a project contract and the current status of the contract is Under Amendment. Identify the correct sequence of activities that can take place on that contract. (Choose the best answer.)
- A. On Hold > Pending Acceptance > Active
- B. Pending Acceptance > Pending Approval > Active
- C. On Hold > Pending Approval > Active
- D. Pending Approval > Pending Acceptance > Active
Answer: D
Explanation:
Explanation
Reference https://docs.oracle.com/cloud/latest/common/FASCC/FASCC1124283.htm Topic - Contract Actions and Status Changes: Explained
NEW QUESTION 42
You have a billable project for which the following details are provided:
Associated Inception-To-Date (ITD) Project Actual Cost: USD 60
Associated Project Budgeted Cost: USD 300
Contract Amount: USD 1000
Project Funded Amount: USD 750
Sum of Existing Revenue Events: USD 80
Identify the Associated Project Spent revenue that will get generated based on the preceding details. (Choose the best answer.)
- A. USD 184
- B. USD 134
- C. USD 70
- D. USD 120
Answer: C
Explanation:
Explanation
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjb/manage-project-contract-revenue Associated Project Percent Spent Example The following formula calculates the percent spent revenue for the associated project.
((Sum of ITD Actual Cost for every subtask that is part of the associated task / Sum of Total Budgeted cost for every task that is part of associated task) x Associated Project Funded Amount) - Sum of Existing Invoice Event Amounts for the Associated Project ((60/300) x 750) - 80 = 70 ((Actual Cost / Budgeted Cost) x Budgeted Revenue) - Sum of Revenue Event Amount
NEW QUESTION 43
You are trying to create a project purchase order (PO) but you are unable to select Expenditure Organization in the PO. Identify two reasons for this problem. (Choose two.)
- A. The organization is classified as a project unit.
- B. The organization is not included in the organization tree that is assigned to the business unit that owns the PO.
- C. The organization is not classified as a project expenditure organization.
- D. The organization is not classified as a project-owning organization.
Answer: B,C
Explanation:
Explanation
Ref: Implementing-Project-Financial-Management-and-Grants-Management.pdf Chapter 3 - Define Project Organizations Page # 12 Topic - Selecting Organization Hierarchies for the Business Unit The following conditions are required for an organization to be eligible to be a project expenditure organization:
* You must assign the Project Expenditure Organization classification to the organization.
* The organization must belong to the hierarchy that you specify in the project implementation options for the business unit.
NEW QUESTION 44
Your customer accounts revenue based on, product class category. Because all your customer's projects are funded by private and government institutions, they decide to classify all projects based on their funding source to accurately report on revenue in General Ledger. Accordingly, you create a new class category
"Funding Source" and assign it to all projects. However, you notice that the accounting is still happening based on product class category. Identify the reason for this problem. (Choose the best answer.)
- A. Funding source class category is assigned to all project types.
- B. Product class category is not enabled for "available as accounting source".
- C. Funding source class category is enabled for "available as accounting source".
- D. Funding source class category is not enabled for "available as accounting source".
Answer: D
Explanation:
Explanation
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-foundation-configuration Topic - Manage Project Class Categories Setting Up Class Categories: Points to Consider Available as Accounting Source This option indicates if the class category is available as an accounting source so that Oracle Fusion Subledger Accounting can use the category to create mapping sets, account rules, journal line rules, and description rules.
Only one class category at a time is available as an accounting source in Oracle Fusion Subledger Accounting.
To change the class category that Oracle Fusion Subledger Accounting uses, deactivate the old class category and create a new one with a different date range.
NEW QUESTION 45
Which three setups can be configured by using Rapid Implementation for Project Financial Management Applications?
- A. Project Types
- B. Departments
- C. Project Templates
- D. Expenditure Types
Answer: A,B,D
NEW QUESTION 46
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. You can enable automatic reprocessing of expenditure items processed before the burden schedule change.
- B. Only new expenditure items charged to the task use the new burden schedule; expenditure items processed earlier can be manually marked for reprocessing.
- C. All expenditure items charged to the task use the new burden schedule.
- D. Only new expenditure items charged to the task use the new burden schedule; expenditure items processed earlier cannot be reprocessed.
Answer: B
Explanation:
Explanation
Reference
https://docs.oracle.com/cloud/r13_update17b/projectcs_gs/OAPJC/OAPJC1071490.htm#OAPJC1071482
NEW QUESTION 47
Which two statements describe how the Resource Qualification Score is calculated?
- A. An individual's score is 100% if the resource request has a qualification, but no proficiency is specified, and the resource has the qualification.
- B. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification that meets the specified proficiency.
- C. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource has the qualification with a proficiency that is lower or higher than specified.
- D. An individual's score is 100% if the resource request has a qualification with a specified proficiency and the resource does not have the qualification.
Answer: B,C
NEW QUESTION 48
Identify the three contract attributes from Project Performance Data that are used in Project Performance dashboard regions. (Choose three.)
- A. Contract Header
- B. Projects
- C. Task
- D. Contract Line
- E. Expenditure Type
Answer: B,C,D
Explanation:
Explanation
Reference https://docs.oracle.com/cloud/farel9/projectcs_gs/FAUAR/F1537947AN10251.htm
NEW QUESTION 49
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. ( the best answer.)
- A. 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.
- B. 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.
- 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 project-owning organization in which the transaction is performed.
Answer: C
Explanation:
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 50
Your customer has separate organizations to maintain indirect, capital, and billing types of projects.
Identify the two setups that can be used to fulfill this requirement. (Choose two.)
- A. Organization Tree
- B. Project Organization Classification
- C. Project Accounting Business Function
- D. Project Type
- E. Business Unit
Answer: A,B
Explanation:
Explanation
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/FAPFM/FAPFM1225328.htm
NEW QUESTION 51
Your company uses an accounting calendar with periods that are identical to calendar months. A contract resource has been identified to work for six months on an accounting close cycle project. The resource is planned to start with 10 days left in the first period and to end 20 days into the last period. For the remaining periods, the resource must be loaded on all working days of the month. You are required to distribute the budget, forecast, and planning amounts across periods based on the task duration.
Which predefined spread curve must be used to meet this requirement? (Choose the best answer.)
- A. Back Loaded
- B. Even
- C. Daily Spread Basis
- D. S-Curve
- E. Bell Curve
Answer: C
Explanation:
Explanation
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-control-configuration-ma Predefined Spread Curves Name Description Dist. Factors Even Linear distribution of financial or project plan values across periods.
10-10-10-10-10-10-10-10-10-10
Prorated Even
Linear distribution of financial or project plan values across periods, with an exception of the first period and last period in the financial plan. Financial or project plan values for the first period and last period are prorated based on the number of days in the period.
10-10-10-10-10-10-10-10-10-10
Back Loaded
Back-loaded distribution of financial or project plan values across periods. Assigned amounts increase over succeeding periods.
0-5-10-15-20-25-30-35-40-45
Front Loaded
Front-loaded distribution of financial or project plan values across periods. Assigned amounts decrease over succeeding periods.
45-40-35-30-25-20-15-10-5-0
S Curve
S-shaped distribution of financial or project plan values across periods.
18-10-8-10-15-17-18-17-15-8
Bell Curve
Bell-shaped distribution of financial or project plan values across periods. Assignment of plan values is highest in the middle periods.
0-4-10-12-14-12-10-4-0-0
Daily Spread Analysis
Spread is based upon the number of days in each financial period throughout the duration of the task assignment. Amounts are proportionally distributed throughout all periods for the duration of the task assignment None
NEW QUESTION 52
What are three configuration items that you need to set up by using the Project Organizations functional area in Project Financial Management configurations? (Choose three.)
- A. Mange Project Types
- B. Mange Business Unit
- C. Manage Project Organization Classifications
- D. Manage Project Unit Options
- E. Manage Project Unit Organizations
Answer: C,D,E
Explanation:
Explanation
Reference
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/define-project-organizations.htm Topic - Manage Project Unit Organizations
NEW QUESTION 53
Which three are part of using the Rapid Implementation for Project Financial Management Applications macro-enabled Microsoft Excel spreadsheet to enter setup data?
- A. Import Projects.
- B. Upload setup data.
- C. Generate CSV files.
- D. File Import and Export.
- E. Prepare setup data.
Answer: B,C,E
Explanation:
Explanation
https://docs.oracle.com/applications/farel12/projectop_gs/OAPFM/OAPFM2264569.htm#OAPFM2159921 Configuring Rapid Implementation: Procedure Project application administrators can use the rapid implementation feature to set up the Project Financial Management offering. Use the Rapid Implementation for Project Financial Management Applications macro-enabled Microsoft Excel spreadsheet to enter setup data and generate the ProjectsWorkbook.zip.
Upload this .zip file to the Setup and Maintenance work area. When the upload completes, the offering is configured based on the setup information that you provide.
Perform the following steps to configure rapid implementation for the Project Financial Management offering:
* Prepare setup data.
* Generate CSV files.
* Upload setup data.
* Correct errors, if any, and reload the data.
NEW QUESTION 54
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. Mapping Sets
- B. Accounting Method
- C. Accounting Rule
- D. Supporting References
- E. Journal Rules
Answer: D
Explanation:
Explanation
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125357.htm#OAPFM1125357 Assignment of Supporting References 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 References: 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 55
Your customer wants to assign the Net 45 payment term to all sets except for the corporate business unit specific set, which is assigned the Net 15 payment term. At transaction entry, the list of values for payment terms consists of only one set of data: the set that is assigned to the transaction's business unit.
Which reference data sharing method would you set up to meet the customer requirement? (Choose the best answer.)
- A. assignment to multiple sets; common values allowed
- B. assignment to one set only; no common values allowed
- C. assignment to multiple sets; no common values allowed
- D. assignment to one set only with common values
Answer: C
Explanation:
Explanation
Reference
https://docs.oracle.com/en/cloud/saas/applications-common/19b/facia/define-enterprise-structures.html#FACIA4 Reference Data Sharing Methods Variations exist in the methods used to share data in reference data sets across different types of objects. The following list identifies the methods:
Assignment to one set only, no common values allowed. This method is the simplest form of sharing reference data that allows assigning a reference data object instance to one and only one set. For example, Asset Prorate Conventions are defined and assigned to only one reference data set. This set can be shared across multiple asset books, but all the values are contained only in this one set.
Assignment to one set only, with common values. This method is the most commonly used method of sharing reference data that allows defining reference data object instance across all sets. For example, Receivables Transaction Types are assigned to a common set that is available to all the business units. You need not explicitly assign the transaction types to each business unit. In addition, you can assign a business unit-specific set of transaction types. At transaction entry, the list of values for transaction types includes the following:
Transaction types from the set assigned to the business unit.
Transaction types assigned to the common set that is shared across all business units.
Assignment to multiple sets, no common values allowed. The method of sharing reference data that allows a reference data object instance to be assigned to multiple sets. For instance, Payables Payment Terms use this method. It means that each payment term can be assigned to one or more than one set. For example, you assign the payment term Net 30 to several sets but assign Net 15 to a set specific only to your business unit. At transaction entry, the list of values for payment terms consists of only the set that is assigned to the transaction's business unit.
Note: Oracle Fusion Applications contains a reference data set called Enterprise. Define any reference data that affects your entire enterprise in this set. Also update the data set going forward as you create new reference data items.
NEW QUESTION 56
You want to create a few project roles so as to restrict access in the Project Financial Management work area to only the specific projects in which an employee is assigned as a team member. What are the two default project roles available to meet this requirement? (
- A. Project Billing Specialist- Security based on Contract BU
- B. Project Accountant- Security based on BU for Assets, Expenditure BU for Costs and Contract BU for Revenue
- C. Project Manager- Security based on Project Assignment
- D. Project Team Member- Security based on Project Assignment
- E. Project Executive- Security based on Project Hierarchy
Answer: C,D
Explanation:
Explanation
Ref:
https://docs.oracle.com/en/cloud/saas/applications-common/r13-update17d/faser/implementing-security-in-oracle
NEW QUESTION 57
Identify the attribute of a project type that determines if expenditure items are billable, and the amount type to be used as the basis for transfer pricing. (Choose the best answer.)
- A. event type
- B. cost type
- C. expenditure type
- D. work type
Answer: D
Explanation:
Explanation
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125361.htm#OAPFM1125277 (what's a work type?) In billing, you can use work types to classify work for the following purposes:
* To determine the default billable status of expenditure items.
* To classify cross-charge amounts into cost and revenue for cross-charge transactions.
Tip: To use work types to determine whether an expenditure item is billable you must set the profile option Work Type Derived for Expenditure Item to When you create or import expenditure items, the default work type is inherited from the associated task.
Tasks, in turn, inherit work type values from parent tasks and ultimately from the project. Project types determine the default work type value for projects an
NEW QUESTION 58
Your customer wants to calculate Estimate to Complete (ETC) as the difference between Current Planned Cost and Actual Cost. In Progress Settings, which option would you use in conjunction with the ETC method to meet this requirement? (Choose the best answer.)
- A. Cost
- B. Manual Entry
- C. Remaining Plan
- D. Effort
Answer: A
Explanation:
Explanation
Reference https://ppm-help.saas.hpe.com/en/9.42/Help/Content/UG/PjMUG/view_pj_cost_data_costtab.htm Below is an example of the Financial Summary view on the Cost tab of the Project Overview page.
https://admhelp.microfocus.com/ppm/en/9.42/Help/Content/UG/PjMUG/images/ProjectOverviewPage_CostTab
NEW QUESTION 59
You are now the project manager of a newly created implementation project. Which two items are not part of managing an implementation project?
- A. Monitor the progress of completing setup tasks.
- B. Enable optional functional areas and features by opting in.
- C. Select the offering you want to implement.
- D. Generate a list of setup tasks.
- E. Assign tasks to various users who are responsible for managing setup data.
Answer: D,E
NEW QUESTION 60
Which three are true of what you can do in the Project Requirements work area?
- A. Create an implementation project.
- B. Create an execution project.
- C. Organize backlog items by requirements.
- D. Manage your list of backlog items.
- E. Create project tasks for backlog items.
Answer: C,D,E
Explanation:
Explanation
Ref:
https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapem/manage-project-requirements.ht Project Requirements: Explained Requirements enable you to capture your business needs. If you manage projects using the Agile development methodology, you start by identifying the high-level requirements and decomposing them further to manage the completion of work on the requirement.
You use the Project Requirements work area to:
* Organize backlog items by requirements
* Manage your list of backlog items
* Create project tasks for backlog items
NEW QUESTION 61
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