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1z0-1060-22 Questions and Answers

Question # 1

Given the business use case:

'Insurances for Homes' company provides home insurance services. They have an in-house built system that processes insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all Journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, the company need to be able to report and view the entries using advanced reporting and analytical tools for segmenting, viewing and understanding data in the journal entries.

The line information may contain more than one line for the same header.

When uploading transactions, which is a way to differentiate each Journalline?

A.

Assign a custom formula.

B.

Assign an accounting attribute.

C.

You do not need to do anything additional.

D.

Assign a line classification or line type attribute.

Question # 2

Which role combines the functional privilege for an individual task or duty with the relevant data security policies?

A.

Abstract Roles

B.

Data Role

C.

Duty Role

D.

Aggregate Privilege

Question # 3

Which four options are used to reconcile subledger journal entries?

A.

Set up reconciliation using the reconciliation reference accounting attribute.

B.

Assign a descriptive text and source on journal lines.

C.

Run the Subledger Accounting Method Setups report.

D.

Tag supporting references with journal entry lines.

E.

Build a custom OTBIreport.

F.

Run the Subledger Accounting Diagnostics report.

Question # 4

A customer has a business requirement to provide additional information about subledger Journals that cannot be found in a predefined report.

How can you meet this requirement?

A.

Use either Account Monitor or Account Inspector to getrequired Information.

B.

Build a Financial Reporting Studio report that includes all dimensions.

C.

Build an OTBI analysis that includes a relevant subject area.

D.

Create a Smart View report using the query designer feature.

Question # 5

'Insurances for Homes' company provide home insurance service. They have in house built system that processes home insurance payments received from customers. The end result of the process consists of a listing ofindividual journal entries in a spreadsheet. They have requirements for getting all journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the Journal entries.

Insurance premium is to be recognized as income across the-coverage period of the insurance policy. How do you link the two journal lines in the recurring journal entries cases, so that these two journal lines are identified by the accounting process to create recurring Journal entries?

A.

Recognition Journal class

B.

Recurring Journal class

C.

Accounting class

D.

Multiperiod class

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