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 two filters must be combined to identify different suppliers who use the same taxpayer ID? (Choose two.)

A. Function filter grouping by "Supplier ID" where count is greater than 1.

B. Standard filter where the "Supplier" object's "Supplier ID" is equal to itself.

C. Function filter grouping by "Taxpayer ID" where count is greater than 1.

D. Standard filter where the "Supplier" object's "Allow Withholding Tax" is not blank.

E. Standard filter where the "Supplier" object's "Taxpayer ID" is not blank.

When running Synchronize Transaction from the Data Sources page of Application Configurations, which statement is true when you have two models using invoice and payment business objects?

A. One job will run for the two objects based on transactions dated before the Transaction Created As of Date.

B. One job will run for the two objects and the Transaction Created As of Date has no impact on the data.

C. One job will run for the two objects based on transactions dated after the Transaction Created As of Date.

D. Two jobs will run for the two objects based on transactions dated after the Transaction Created As of Date.

Which two steps are required to set up two levels of approval for new controls, which are added after the initial import? (Choose two.)

A. On the Controls tab of the Import template, set the control state to NEW for each control record.

B. Identify the organizations or business units for which users will perform review or approval.

C. Identify users who will perform control review and approval.

D. Identify the other roles to be provided for control managers.

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.

Your customer has a requirement to define an IT Compliance Manager job role with privileges to manage risks and controls, and the issues related to the risks and controls. What are the duty roles that must be included in this job role to achieve this requirement?

A. Seeded Issue Manager Composite and Issue Validator Composite

B. Seeded Risk Issue Manager and Control Issue Manager

C. Seeded Issue Manager Composite

D. Seeded Risk Manager Composite, Control Manager Composite, and Issue Manager Composite

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. Not in

C. Similar

D. Average Function

E. Between (when using a date attribute)

During an assessment, an issue was created. Your job as the Issue Manager is to review the issues and

validate them. If it is determined that they are not valid issues, you need to close them. You have found an

issue that is not valid and with Status: Open and State: Reported.

Identify the correct step to close this issue.

A. On the Manage Issues page, highlight the issue and click the Close button.

B. The assessment associated to the issue must be completed before closing the issue. Only then can you close the issue.

C. After you have completed the remediation plan, click the Close button on the Remediation Plan page.

D. Ensure that the issue status is In Edit, and then from the Actions menu, select Close Issue.

You need to schedule the report "Access Violations by User." Which two steps do you take to create the saved parameters for the report schedule? (Choose two.)

A. Navigate to Administration Reports.

B. Highlight the report name and click Run Now.

C. Navigate to Scheduling under Setup and Administration.

D. Click Save Report Parameters to create saved settings.

E. Select Display Scheduled Reports.

Which two options can be assigned to a duty role? (Choose two.)

A. Functional Security Policy

B. Abstract Role

C. Data Security Policy

D. Job Role

You have completed the data import process with no errors. You created process, risks, controls, and one perspective. Controls were related to perspectives. You have provided the customer with the Control Manager security role. When the customer logs in to Financials Risk Compliance (FRC), the customer cannot see any controls. Which step was missed during the import process?

A. Data security policies for Controls were not created.

B. The Controls were not related to any risk objects.

C. The parent process was never approved.

D. The Control Method was not set to a valid value.

You have created a risk definition R100 and have created a new control C100 for this risk. No user has been assigned the Risk or Control reviewer and approver roles. What will be the state of R100 and C100 after submitting?

A. Both R100 and C100 will be in the "In Review" state.

B. Both R100 and C100 will be in the "Awaiting Approval" state.

C. Both R100 and C100 will be in the "Approved" state.

D. Both R100 and C100 will be in the "New" state.

Which three statements are true about the purpose of perspectives? (Choose three.)

A. Perspectives can be used to define user privileges.

B. Perspectives can be used for categorizing Financial Reporting Compliance objects.

C. Perspectives can be used to represent regional hierarchies.

D. Perspectives are used to enable data security on Financial Reporting Compliance objects.

E. Perspectives enable functional security in Financial Reporting Compliance.

You have defined an initial Perspective Hierarchy for your client in the Advanced Controls module. After refining their business requirements, your client wants to expand the existing hierarchy to include 150 perspective items in various levels. For efficient processing, you decide to use the GRC data migration feature to import the new items. Which three are valid processing steps required to define the export file? (Choose three.)

A. Navigate to Risk Management Tools > Setup and Administration > Data Migration, and select Advanced Controls.

B. Generate Template as Without Data.

C. Navigate to Manage Module Perspectives.

D. Generate Template as Without Data ?Perspectives Only.

E. Click the Create Import Template button.

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.