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Pass Oracle Oracle Risk Management Cloud 2020 Implementation Essentials PDF Dumps | Recently Updated 77 Questions
NEW QUESTION 33
Your customer needs to conduct monthly Operational Effectiveness assessments for controls across two organizations (North America and EMEA). Your customer requires that assessment results for North America be accessible only tousers in North America and likewise for EMEA. Additionally, the Chief Risk Officer reviews the assessment results by Business Process every week.
How should you design perspectives to achieve this?
- A. Use both Region and Business Process hierarchies solely for reporting purposes.
- B. Use the Region hierarchy initially, and later use both Region and Business Process hierarchies for security.
- C. Use the Business Process hierarchy for security and the Region hierarchy for reporting of controls.
- D. Use the Region hierarchy for security and the BusinessProcess hierarchy for reporting of controls.
Answer: D
NEW QUESTION 34
You have defined an initial Perspective Hierarchy for your client in theAdvanced 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. Generate Template as Without Data - Perspectives Only.
- B. Generate Template as Without Data.
- C. Click the Create Import Template button.
- D. Navigate to Risk Management Tools > Setup and Administration > Data Migration, and select Advanced Controls.
- E. Navigate to Manage Module Perspectives.
Answer: B,D,E
NEW QUESTION 35
When validating imported data, the control manager at your client has identified an incorrect Risk-Control mapping; that is, Control A was mapped incorrectly to Risk B instead of Risk A. What needs to be done to fix the mapping?
- A. Option D
- B. Option A
- C. Option C
- D. Option B
Answer: D
NEW QUESTION 36
You have scheduled quarterly assessments for a Control object at the beginning of the year with futuredates.
However, the test plans associated with the Control object were updated before the assessment could be started. Which statement is true about this scenario?
- A. The scheduled assessment process will end in error.
- B. The user will have the option to select the older or newer versions of the test plans during the assessment process.
- C. The updated test plans will become available during the assessment.
- D. The assessment will be associated with the version of the test plans from the time of assessment initiation.
Answer: D
NEW QUESTION 37
You are helping your client identify and define their controls. Youhave determined that your client requires two perspectives: Business Units and Regulatory Standards.
The controls are going to be secured by the business unit, and you want to ensure that when the client defines new controls, it is mandatory to assign a Business Units perspective to the control. You are going to set the
"Required" field to "yes" for the Control-Business Units association.
Where do you do this in the product?
- A. The Create Control screen
- B. The Manage Object Perspectives screen
- C. The Manage Module Perspectives screen
- D. The Create Perspectives screen
- E. TheImport template
Answer: D
NEW QUESTION 38
Your client has configured separate roles for controlassessor and control assessment reviewer. The control assessor has submitted his or her assessment. The control assessor realizes later that he or she has forgotten to attach a critical test evidence document to the assessment and needs to attach it now.
How can this be accomplished?
- A. On the Assessment tab in the Control definition, the assessor can select the assessment and click the Complete Assessment button. He or shecan attach the document and resubmit the assessment.
- B. The assessor can request the reviewer to reject the assessment. After the assessment is rejected, the assessor can then attach the document and resubmit the assessment.
- C. The assessor can request the reviewer to attach the document during the review.
- D. On the Manage Assessments page, the assessor can select the assessment and click the Reopen button.
He or she can then attach the document and resubmit the assessment.
Answer: D
NEW QUESTION 39
An assessor is trying to complete an operational assessment on a control for manual AP Invoice entry and is reviewing Prior Results.
Which statement is true about viewing Prior Results for this control?
- A. He or she will be able to review results of all prior assessments of all types for this control.
- B. He or she will be able to review results of all prior Audit tests and operational assessments for this control.
- C. He or she will be able to review results of all prior operational assessments for all controls.
- D. He or she will be able to review results of all prior assessments of all types for all controls.
- E. He or she will beable to review only results of prior operational assessments for this control.
Answer: B
NEW QUESTION 40
Your client has subscribed to Financial Reporting Compliance and would like to address risks using treatment plans.
Which option shows the settings that will help in achieving this configuration?
- A. Configure Module Objects > Edit Risk Object Configuration >Result = Show
- B. Configure Module Objects > Edit Risk Object Configuration > Treatment = Hide and Default
- C. Configure Module Objects > Edit Risk Object Configuration > Treatment = Show
- D. Configure Module Objects > Edit Control Object Configuration > Result = Show
- E. Configure Module Perspectives > Edit Financial Reporting Compliance > Risk-Organization mapping set to required, active.
Answer: D
NEW QUESTION 41
An organization has a list of companies with which they no longer wish to do business. The list is not stored in their ERP Could but isstored in a file.
Which transaction model will identify payments made to these companies?
- A. Create an Imported business object that can be used in conjunction with Oracle's pre-built "Payables Invoice" object. Once both objects are in your model, add this standard filter: the "Payables Invoice" object's "Supplier Name" equals the custom object's "Company Name".
- B. You cannot define this model because imported objects from a file cannot be used with delivered objects.
- C. Create an Imported business object that can be used in conjunction with Oracle's pre-built "Payment" object. One both objects are in your model, add this standardfilter: the "Payment" object's "Remit to Supplier Name" is similar to the custom object's "Company Name" by 95%.
- D. Add a configurable attribute "Company Name" to Oracle's pre-built "Payment" object. Then add this standard filter: "Remit to Supplier Name"equals "Company Name".
Answer: A
NEW QUESTION 42
Which filter can be used to identify expense reports that contain suspicious expense type combinations, such as, a report for a single trip that contains taxi, carrental, and mileage expenses?
- A. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "In" condition for values that include taxi, car, mileage.
- B. Inclusive function filter grouped by the "Expense Report Information" object's "Person" where the
"Expense Type" has an "In" condition for values that include taxi, car, mileage. - C. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "In" condition for values that include taxi, car, mileage.
- D. Inclusive function filter grouped by the "Expense Report Information" object's "Report Number" where the "Expense Type" has an "Equals" condition for values that include taxi, car, mileage.
- E. Inclusive function filter grouped by the "Expense Report Information" object's "Person" where the
"Expense Type" has an "In" condition for values that include taxi, car, mileage.
Answer: C
NEW QUESTION 43
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 IssueValidator Composite
- B. Seeded Risk Manager Composite, Control Manager Composite, and Issue Manager Composite
- C. Seeded Issue Manager Composite
- D. Seeded Risk Issue Manager and Control Issue Manager
Answer: B
NEW QUESTION 44
You are building a transaction model to identify invoices with USD amounts that are greater than the supplier's average invoice amount. The order of the filters is important.
1. Add an "Average" Function filter grouping by "Supplier ID" where "Invoice Amount" is greater than 0.
2. Add a standard filter where "Invoice Currency" equals "USD."
3. Add a standard filter where thedelivered "Average Value" attribute is less than "Invoice Amount." What is the correct order of the filters for this transaction model?
- A. 3, 2, 1
- B. 2, 1, 3
- C. 1, 3, 2
- D. 1, 2, 3
- E. 2, 3, 1
Answer: D
NEW QUESTION 45
Your client is configuring their Test pod (which has no data) and has created their initial importtemplate with controls, test plans, perspectives, and perspective-control mappings. They have used custom list of values for Control Frequency.
Which three tasks must be completed before performing the data import? (Choose three.)
- A. Validate that there are no duplicate worksheet IDs within the same worksheet.
- B. Validate that new lookup values are created for any custom list of values.
- C. Validate that all nods on the Perspective Item tab are covered on the Perspective Hierarchy tab.
- D. Validate that the System ID column is populated correctly.
- E. Validate that the control-perspective relationship has been created in Manage Module Perspectives.
Answer: B,C,D
NEW QUESTION 46
Identify the four statuses and states in which you can edit an issue's description, assuming you have the necessary privileges to edit the issue. (Choose four.)
- A. Status: On-Hold; State: Reported
- B. Status: Closed; State: Final Close
- C. Status: Open; State: In Edit
- D. Status: Closed; State: Closed - Awaiting Approval
- E. Status: On Hold; State: In Review
- F. Status: Open; State: New
- G. Status: On Hold; State: Awaiting Approval
- H. Status: Open; State: Approved
Answer: C,E,F,H
NEW QUESTION 47
The control manager needs to associate an existing test plan to an additional assessment type, Audit Test. The existing test plan is associated only with the Design Review assessment type.
How canthis be accomplished?
- A. The controlmanager does not need to update the control because any initiated assessment will include all control test plans.
- B. The control manager should create a new test plan with Audit Test and Design Review as assessment types.
- C. The control's test plan should be updated to Audit Test as the assessment type.
- D. The control's test plan should be updated to include both Audit Test and Design Review as assessment types.
Answer: D
NEW QUESTION 48
Which two would need to happen in order for Advanced Access Controls (AAC) to automatically assign a status of "Closed" to an access incident? (Choose two.)
- A. The incident is resolved using simulation in AAC and a subsequent evaluation of controls finds that the incident no longer exists.
- B. A global condition was added that resolves the conflict and a subsequent evaluation of controls finds that the incident no longer exists.
- C. A user sets the State of the incident to "Remediate".
- D. A user sets the Status of the incident to "Resolved".
- E. The incident is resolved inFusion Cloud and a subsequent evaluation of controls finds that the incident no longer exists.
Answer: C,E
NEW QUESTION 49
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