Free Oracle 1Z0-1057-22 Exam Actual Questions

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

Question No. 1

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? (Choose two.)

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Question No. 2

You cannot generate invoices for a project expenditure item. After running the Generate Invoices program for a billable expenditure item and active contract, the process completes successfully but without any billing, and does not provide any error logs.

The program's processing summary is as follows:

Billing Event Errors 0

Ineligible Contracts 0

Successfully Billing Events Created 0

Ineligible Contract Lines 0

Billing Transaction Exception Errors 0

Ineligible Bill Plans 0

Billing Transaction Exception Warnings 0

Ineligible Associated Projects 0

Successful Billing Transactions 0

Ineligible Expenditure Items 0

Draft Invoice Exception Errors 0

Ineligible Events 0

Draft Invoice Exception Warnings 0

Successful Draft Invoices 0

What was the invoice method classification set to that caused this behavior? (Choose the best answer.)

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Correct Answer: A

Reference https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJB/F1087458AN139C2.htm

Topic -- Invoice and Revenue Rates: How They Are Determined

Oracle Fusion Project Billing uses bill rates, burdening, and transfer price schedules to derive standard bill rates, multipliers, markups, and bases for calculating potential revenue when the revenue method classification on a revenue plan is as billed, as incurred, or rate based. Similarly, bill rates derive invoice amounts when the invoice method classification on a bill plan is rate based.


Question No. 3

Your customer wants to automatically allocate unassigned asset lines and common costs across multiple assets based on the construction-in-process cost of each asset. Identify the asset allocation method that you must use as the default method while configuring project types to meet this requirement. (Choose the best answer.)

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Correct Answer: C

Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapfm/project-foundation-configuration-manage-project-types.html#OAPFM220111

Topic -- Asset Cost Allocation Methods: Explained

The asset cost allocation method determines how indirect or common costs incurred on a project are allocated to multiple assets.

You can specify an asset cost allocation method to enable Oracle Fusion Project Costing to automatically allocate unassigned asset lines and common costs across multiple assets. Unassigned asset lines typically occur when more than one asset is assigned to an asset grouping level.

Projects and project templates inherit a default asset cost allocation method from the associated project type. You can override the default at the project level. If you use capital events to allocate costs, then you can also override the asset cost allocation method at the event level.

The following table describes the available asset cost allocation methods.

Method

Basis of Cost Allocation

Actual Units

Number of units defined for each asset

Current Cost

Construction-in-process (CIP) cost of each asset

Estimated Cost

Estimated cost of each asset

Standard Unit Cost

Combination of the standard unit cost and the number of units defined for each asset

Spread Evenly

Equal allocation of cost to each asset


Question No. 4

Your company creates a separate project for infrastructure services, so as to track these costs separately and then allocate to various projects that use the services of the infrastructure team. You want to allocate these costs by first attributing a fixed percentage of the source amount to each project and then spread it across tasks based on the actual labor hours charged to each task.

Which allocation basis method would you use to meet this requirement? (Choose the best answer.)

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Correct Answer: B

Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapjc/allocate-project-costs.html#OAPJC94831

Spread Evenly

The allocation rule divides the source pool amount equally among all the chargeable target tasks included in the rule. This is the most simple and direct basis method.

Target Percentage and Spread Evenly

Specify the percentage of the source pool that is required to allocate to each target line. The total specified target percentage must always equal 100 percent. The allocation rule calculates the amount to allocate to the target line, and then spreads the results evenly among the chargeable tasks.

Prorate

The allocation generation uses the attributes defined in the allocation rule to derive the rate at which the source pool amount is apportioned among the target projects and tasks. For this basis method, the allocation rule uses the basis attributes to apportion the source amount among all the tasks defined by the rule. The Prorate basis method provides precise control over how the rule distributes the source pool.

Target Percentage and Prorate

The allocation rule first uses the target percentage to calculate the amount to allocate to the line, and then apportions the results among all the tasks. The Target Percentage and Prorate basis method provides precise control over how the rule distributes the source pool.


Question No. 5

Which two statements are true about the cross-charge method, Borrowed and Lent?

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Correct Answer: A, B

Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjc/process-project-cost-transactions.html#OAPJC284872

What's a borrowed and lent processing method?

A method of processing cross-charge transactions that generates accounting entries to share revenue or transfer costs from the provider organization to the receiver organization within a legal entity. An internal invoice isn't created but costs or revenue are shared based on the transfer price rules. This method provides a financial view of the performance of an organization.