Exam Title: Oracle Risk Management Cloud 2018 Implementation Essentials
Exam Number: 1Z0-958
Exam Price: Rs.22,584.00 More on exam pricing
Format: Multiple Choice
Duration: 120 minutes
Number of Questions: 75
Passing Score: 65%
Validated Against: This exam has been validated against 18B. (Previous version of this exam was validated against R13, and originally R12 in 2017)
Associated Certification Paths
Passing this exam is required to earn these certifications. Select each certification title below to view full requirements.
Oracle Risk Management Cloud 2018 Certified Implementation Specialist
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Oracle Financials Cloud Learning Subscription
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Additional Preparation and Information
A combination of Oracle training and hands-on experience (attained via labs and/or field experience) provides the best preparation for passing the exam.
Gather Requirements for Risk Management Implementation (fka Gather Requirements for Financial Reporting Compliance Implementation)
Describe Risk Management (fka Describe Financial Reporting Compliance)
Implement the Best Practice Process
Plan to gather information for the implementation
Describe Objects
Design Perspectives, both as it relates to security and reporting
Data Migration
Assemble existing risk control matrix data
Explain the steps to import and export data
Populate an import template
Validate an import template prior to import
Troubleshoot errors during an import
Manage Objects
Describe how to create objects
Create Control Test Plans
Relate objects to one another
Create Review and Approve workflows for objects
Manage Issues
Describe an Issue lifecycle
Create and manage issues
Manage the issue resolution process
Explain security for Issues
Advanced Access Controls (fka Application Access Controls Governor)
Explain Entitlements
Create and manage Models and Controls
Configure Conditions
Explain Simulation and Remediation
Initial Financial Reporting Compliance Configuration (fka Initial Configuration)
Configure a pod for Financial Reporting Compliance Implementation
Configure Module Objects
Configure and manage Lookups
Security
Describe Job roles, Duty roles, and Data Security policies
Configure and assign Job and Duty roles
Configure and create Perspective-based Data Security policies
Describe jobs and processes related to security
Manage Assessments
Explain planned and ad-hoc assessments
Initiate ad-hoc assessments
Create assessment templates and plans
Initiate planned assessments
Complete assessments
Initial Advanced Controls Configuration (fka Fusion GRC Set Up and Administration)
Create and manage Perspectives
Configure security
Describe modules
Explain reporting
Advanced Financial Controls (fka Transaction Controls Governor)
Describe Models and Controls
Configure Filters
Configure Functions
Configure Patterns
Explain Result Management
QUESTION 1
Which three steps can be performed by using the Configure Module Objects pages? (Choose three.)
A. Choose display (or hide) configurable options for: results, events, consequences and treatments.
B. Set “object-perspective” association.
C. Create object data import templates.
D. Edit the assessment activity question and guidance text for all assessment types.
E. View assessment response details for all assessment types.
Correct Answer: ABE
QUESTION 2
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.
Correct Answer: BDE
QUESTION 3
How do you populate the Control Method field with a new custom value, such as a third-party application’?
A. Enter the new value directly in the Control method field.
B. Use Lookup Meaning of the new lookup value.
C. Use Lookup Code of the new lookup value.
D. Use Lookup Type of the new lookup value.
Correct Answer: A
QUESTION 4
Which three risk assessment activity types are available in Financial Reporting Compliance? (Choose three.)
A. Design Review
B. Qualitative Analysis
C. Quantitative Analysis
D. Certify
E. Audit
F. Assess Risk
Correct Answer: ADF
QUESTION 5
You are implementing Advanced Access Controls and there is a requirement for a control to monitor user
access to specific, client-defined access points which give users the ability to both initiate a purchase order
and approve payments on that purchase order.
Which is a valid option to implement the control?
A. From the “Access Entitlements” page create two entitlements containing the respective client-defined
access points. Create an access model from the “Models” tab of Advanced Controls, based on the entitlements you created.
B. Select Actions > Create Access Control from the “Controls” tab of Advanced Controls.
C. Create an access model from the “Models” tab of Advanced Controls, and then define an access point filter
for each individual client-defined access point.
D. From the “Access Entitlements” page create two entitlements containing the respective client-defined
access points. Create an access model from the “Models” tab of Advanced Controls, based on the
entitlements you created. Finally, deploy an access control in the “Controls” tab of Advanced Controls, and
select the access model you created.
E. Create an access entitlement from the “Access Entitlements” page, then select Actions > Create Access
Control from the “Controls” tab of Advanced Controls, and select the entitlement you created.
Correct Answer: D
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