Free Oracle 1Z0-1057-22 Exam Actual Questions

The questions for 1Z0-1057-22 were last updated On Nov 6, 2024

Question No. 1

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.)

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Question No. 2

Which three features are part of Oracle Fusion Functional Setup Manager?

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Correct Answer: A, B, C

https://docs.oracle.com/en/cloud/saas/applications-common/r13-update17d/oafsm/applications-cloud-using-functional-setup-manager.pdf

Functional Setup Manager offers the following:

* Standardized application configuration and setup experience

* Feature opt-in for a best fit configuration

* Flexible processes for managing setup:

Setup by functional areas for an adopt-as-you-go approach

Implementation projects to manage setup

Upload file to enter setup data in bulk

* Guided task list for end-to-end setup requirements

* Export and import services for setup data migration between environments

* Comprehensive reporting on setup data


Question No. 3

Your organization has been using project class categories and codes for reporting purposes and is set up at the project level. You recently defined a new project type, Capital-Contract, and created new class categories named Build, Operate, and Transfer (BOT) and Build, Transfer, and Maintain (BTM), with class codes of Yes/No. But on creation of a project, you are unable to associate these class categories and codes.

Identify two setups that are mandatory for these class categories and codes to be displayed. (Choose two.)

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Correct Answer: A, C

Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-foundation-configuration-manage-project-types.html#OAPFM360164

Topic - Associating Project Types and Class Categories: Examples

Project classifications group your projects according to categories and codes that you define. When you associate project classifications with project types, the classification is available for selection on projects with that project type.

Use any of the following methods to associate class categories with project types:

Add a classification to the project type definition

For each classification that you associate with the project type, you can enable the Assign to All Projects option to automatically add the classification to the project definition for all new projects with the project type. When this option is enabled, all projects with this project type must be assigned a class code for the class category.

Add a project type to the class category definition

Enable the Assign to all Project Types option on the class category definition


Question No. 4

Your customer wants to perform billing based on the Percent Spent invoice method. Identify two setups that are required in project contracts for calculating invoice amounts as per their requirement. (Choose two.)

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Correct Answer: B, D

Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjb/create-customer-contract.html#OAPJB70183

Bill Plan -- Create a bill plan within a contract that uses the invoice method you require. Assign the bill plan to one or more contract lines. A set of instructions on a contract that define how to invoice a customer. Multiple contract lines on a contract can use the same or different bill plans. Invoice Method is used in creating Bill Plan -- not a separate setup.

Billing Controls -- Contract feature that controls the types of transactions, dates, and amounts a customer may be invoiced for and revenue can be recognized for a contract or contract line. Define billing controls at the contract or contract line level.

Topic - Creating a Contract for Percent Spent Invoice and Revenue Methods: Worked Example

This example describes a scenario where transactions for a contract line need to be invoiced and the revenue recognized using the percent spent method.

What are the revenue and invoice method classifications? Percent Spent

What is the billing extension calculation level for the contract line and project association? Project level

Summary of the Tasks

Create a contract, create the percent spent contract lines, create the bill plan, create the revenue plan.

Prerequisites

Create a project.

Create the project plan for percent spent revenue. Specify the plan type on the percent spent billing extension.

Create an approved cost budget.

Create cost and burden rates.

Enter labor and expense transactions for the project.

Collect costs for the transactions.

Configuration Steps

Creating the Contract

Creating the Percent Spent Contract Lines

Creating the Bill Plan - A set of instructions on a contract that define how to invoice a customer. Multiple contract lines on a contract can use the same or different bill plans.

Creating the Revenue Plan - Common set of instructions for recognizing revenue within a contract. Multiple contract lines on a contract can use the same or different revenue plans.

Invoice method classifications determine how transactions are invoiced. The invoice method determines how invoice amounts are derived.

Enter an invoice method on a bill plan, which you create for a contract and assign to contract lines to provide a set of instructions for creating an invoice.

Create billing controls for a contract or contract line to define the valid transaction dates, billing resources, and amount limits for transactions associated with the contract.

Generate invoices to calculate the invoice amounts for a contract.

The following figure illustrates the components of a project and a contract that determine invoice amounts, and the relationships between the components.


Question No. 5

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.)

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Correct Answer: D

Reference https://docs.oracle.com/en/cloud/saas/applications-common/19b/facia/define-enterprise-structures.html#FACIA462453

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.