1Z0-1107-2 Oracle Financials Business Process Foundations Associate Rel 2 Exam

Mock Exam 1Z0-1107-2: Oracle Financials Business Process Foundations Associate Rel 2

The Oracle Financials Business Process Foundations Associate exam will validate your understanding of all major aspects of the Oracle Financials Cloud and the business processes that are associated with it. You will be tested on the five key financial business processes lifecycles

Invoice to Cash
Procure to Payment
Asset acquisition to retirement
Accounting transformation
Budget to report

These burinss process use the following cloud product services: Receivables & Collections, Payables & Payments, Expenses, Cash Management, Tax, Assets, subledger accounting, and General Ledger.

This is a mock exam bundle of 3 mock exams and have the similar approach in line with actual exam
Question type : Multiple choice or Multi select.
Number of Questions: 40 questions.
Duration : 90 minutes.
Passing score : 60%.

The topic of the test will be on the following:

Oracle Cloud Financials Business Models
Financials Business Process flows
Cloud tools & Emerging Technologies used in Oracle Cloud Financials
Identify role based Job Roles for each Process

Invoice to Cash Process flow
Explain the Invoice to Receipt Process
Explain the AR Capture Taxes Process
Explain Statement to Collections Process
Explain the AR Bank Transaction to Bank Statement Process

Procure to Payment Process flow
Expenses to Reimbursement Process
Invoice to Payment
AP Capture Taxes Process
AP Cash Reconciliation Process

Asset Acquisition to Retirement Process flow
The Asset to Retirement Process

Accounting Transformation Process flow
The Sub ledger Accounting to Posting Process

Budget to Report Process flow
Manage Budget & Forecast Process
The Capture Transaction process
The Period Close to Financial Reporting

Who this course is for:
IT Analysts in Oracle cloud ERP
Oracle Financial Functional consultants
Oracle ERP implmentation consultants

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QUESTION 1
Which Absence-related data can an employee access apart from being able to add an absence and review existing absences?

A. Plan Balances
B. Absence Calculation Rules
C. Balance Adjustment Requests
D. Absence Processing Rules

Answer: A

Explanation:
Employees can access their plan balances from the Absence Balance page, which shows the current
balance and projected balance for each absence plan they are enrolled in1. Absence calculation rules
and absence processing rules are not visible to employees, but only to administrators2. Balance
adjustment requests are not a type of absence-related data, but a type of action that employees can
perform to request changes to their plan balances3. Reference: Oracle Absence Management Cloud
User Guide, Oracle Absence Management Cloud Implementation Guide, Oracle Global Human
Resources Cloud User Guide

QUESTION 2
Once an employee makes their benefit election, rates will be passed to payroll.
What rate from benefits enrollment gets sent to payroll?

A. Communicated Amount
B. Defined Amount
C. No rate gets sent to payroll
D. Amount

Answer: C

Explanation:
Benefits enrollment does not send any rate to payroll, because benefits rates are calculated by the
benefits engine and stored in the benefits tables, not in the payroll tables. Payroll uses the benefits
element entries to determine the deductions and employer contributions for each employee. The
communicated amount, defined amount, and amount are all types of benefits rates that are used for
different purposes, but none of them are sent to payroll. Reference: [Oracle Benefits Cloud
Implementation Guide], [Oracle Payroll Cloud Implementation Guide]

QUESTION 3
You want the ability for employees to have complete autonomy toward their own goals. Given you
want employees to be able to perform many actions when it comes to their goals, what are the main
actions employees can perform when their Manager assigns them a goal?

A. Manage and update goals
B. Communicate the progress of their goal for the Manager to update
C. Create new career goals
D. Share goals with colleagues

Answer: A

Explanation:
Employees can manage and update their goals from the My Goals page, where they can edit, delete,
or complete their goals, as well as add new goals or subgoals. They can also communicate the
progress of their goals to their managers by updating the status, completion percentage, and
comments fields. Creating new career goals is not an action that employees can perform when their
manager assigns them a goal, but rather a separate process that involves using the Career
Development page. Sharing goals with colleagues is not an action that employees can perform from
the My Goals page, but rather a feature that requires enabling the Goal Sharing profile option.
Reference: [Oracle Goal Management Cloud User Guide], [Oracle Career Development Cloud User
Guide], [Oracle Goal Management Cloud Implementation Guide]

QUESTION 4
As a Talent Manager, one of your goals for the year is to create a plan to retain your top talent.
You would like to set up a Talent Review meeting with Managers to better assess their workforce in how
you can build a plan for each worker. As you start to develop your plan, which among the following
options is one of the main aspects you will need to create a successful Talent Review meeting for?

A. Worker Hire Dates
B. Manager feedback
C. Worker salaries
D. Meeting Review Content

Answer: D

Explanation:
Meeting review content is one of the main aspects that a talent manager needs to create for a
successful talent review meeting, because it defines the layout and data that will be displayed in the
talent review dashboard for each worker. Meeting review content includes performance and
potential ratings, talent scores, risk of loss, impact of loss, readiness level, mobility preferences, and
other custom attributes that can be configured by the talent manager. Worker hire dates, manager
feedback, and worker salaries are not aspects that need to be created by the talent manager, but
rather data that can be sourced from the HR system or entered by the participants during the
meeting. Reference: [Oracle Talent Management Cloud User Guide], [Oracle Talent Management
Cloud Implementation Guide]