1Z0-1058-20 Practice Exam Tests Latest Updated on Oct-2021
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NEW QUESTION 31
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's test plan should be updated to Audit Test as the assessment type.
- C. The control's test plan should be updated to include both Audit Test and Design Review as assessment types.
- D. The control manager should create a new test plan with Audit Test and Design Review as assessment types.
Answer: C
NEW QUESTION 32
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 "Person" 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 "Report Number" 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: B
NEW QUESTION 33
You are gathering requirements on how your client performs control assessments. Which three tasks should you complete to set up assessments in Financial Reporting Compliance? (Choose three.)
- A. Determine if control assessments are planned ahead of time or are run impromptu.
- B. Determine whether assessments templates, plans, and completed assessments need to go through a review and approve workflow.
- C. Understand the sample size for each audit test.
- D. Identify the type of assessments included in each assessment cycle.
- E. Determinethe main objectives of deploying the control.
Answer: A,B,C
NEW QUESTION 34
You are advising your client on design and configuration related to how access incident results will be viewed and managed. The client has provided a list of business requirements:
* Incident results can be viewed by Department
* Groups of investigators receive assigned incidents based on Department
* Must ensure systematically that no incident is unassigned to an investigator Which three must be configured to support these requirements? (Choose three.)
- A. Custom perspective for Department linked to the Results object with Required set to "Yes"
- B. Custom perspective for Department linked to the Results object with Required set to "No"
- C. Investigators are assigned job roles with custom Department perspective data roles attached for managing incidents. Other incident users are assigned job roles with custom Department perspective data roles attached for viewing only.
- D. Worklist assignment Result Investigator should be set to specific users.
- E. Investigators are assigned job roles with custom Department perspective data roles attached. Other incident users receive job roles which only allow viewing of incidents.
- F. Worklist assignment Result Investigator should be set to "All Eligible Users"
Answer: D,E,F
NEW QUESTION 35
You have created security roles for the Procure-to-Pay (P2P) Control Manager for the EMEA region in your client's organization. But, there are two problems with his or hersecurity configuration.
Problem 1: This person should not receive notifications to complete control assessments, but currently he or she does.
Problem 2: Also, although he or she has access to controls associated with EMEA, he or she is unable to access controls created for individual regions within EMEA.
You have given him or her the following job role:
* EMEA P2P Control Manager Job Role
* Seeded Control Manager Duty Composite
* Seeded Control Certification Assessor Duty Composite
* EMEA P2P Control Manager DataSecurity Policy
* Seeded Control Manager Data Security Policy
* Perspective filter where Region Perspective "equals" EMEA
* Perspective filter where Process Perspective "equals" P2P
Which two actions need to be taken to correct the problems? (Choose two.)
- A. Add to the EMEA P2PControl Manager Data Security Policy the seeded Control Certification Assessor Data Security Policy.
- B. Remove Control Certification Assessor Composite from the EMEA P2P Control Manager job role.
- C. While defining data security policy, set the perspective value to EMEA including all child nodes of the EMEA region.
- D. Create EMEA P2P Control Certification Assessor Data Security Policy striped by both EMEA and P2P perspectives and assign to the job role.
Answer: A,C
NEW QUESTION 36
Which two should you determine to ensure that your client can successfully maintain and administer Perspectives post go-live? (Choose two.)
- A. Identify if your client wants to review and/or approve new perspectives or changes made to existing perspectives.
- B. Identify lookup values that need to be created for Control, Risk, and Issue Type fields.
- C. Identify users who will be responsible for creating and maintaining controls and/or risks.
- D. Identify users who will be responsible for creating and maintaining perspectives, both for security as well as reporting.
Answer: A,B
NEW QUESTION 37
You are implementing Advanced Access Controls for a client. You need to create a model that returns users who have been assigned a specified access point but excludes a specific operating unit.
Which business object(s) do you need to add to your model to accomplish this objective?
- A. Access Entitlement
- B. Access Point and User Business Object
- C. Access Point and Fusion Access Condition
- D. Fusion Access Condition
- E. Access Point
Answer: A
NEW QUESTION 38
You have completed the data import process with no errors. You created process, risks, controls, and one perspective. Controls were related to perspectives. You have provided the customer with the Control Manager security role. Whenthe customer logs in to Financials Risk Compliance (FRC), the customer cannot see any controls.
Which step was missed during the import process?
- A. The Controls were not related to any risk objects.
- B. The Control Method was not set to a valid value.
- C. Data security policies for Controls were not created.
- D. The parent process was never approved.
Answer: B
NEW QUESTION 39
You have imported risks in Financial Reporting Compliance using data migration. Your client is asking if you can add controls for these risks.
Which two statements are true? (Choose two.)
- A. To relate controls, risks must be assigned to the same perspective that is assigned to the control you want to map it to.
- B. To relate controls to risks, the risks must be in"approved" state.
- C. You cannot use the Data Migration tool to add control records to map to existing risks.
- D. You can use the Data Migration tool to add control records for the existing risks.
- E. You can manually add control definitions and relate them to the risks in Financial Reporting Compliance.
Answer: A,D
NEW QUESTION 40
Which controls can user A manage for the following Control Manager role Configuration? See details of perspective trees and control-perspective association below.
- A. Controls 1, 2, and 4
- B. All controls
- C. Controls 2 and 4
- D. None
- E. Controls 1 and 2
Answer: E
NEW QUESTION 41
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 B
- C. Option A
- D. Option C
Answer: B
NEW QUESTION 42
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 the Region hierarchy for security and the BusinessProcess hierarchy for reporting of controls.
- 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 both Region and Business Process hierarchies solely for reporting purposes.
Answer: A
NEW QUESTION 43
Select three fields that are required to create an impromptu assessment. (Choose three.)
- A. Due Date
- B. Activity
- C. Reviewer
- D. Name
- E. Perspectives
- F. Template
Answer: A,D,F
NEW QUESTION 44
At the last step of initiating assessments, the assessment manager sees who the assessment participants are (to complete, review, and approve the assessments). If the assessment manager wants to change the participant, who completes the assessment, what should he or she do?
- A. Modify the perspective hierarchy in the last step of initiating assessments.
- B. Modify the participant list in the last step of initiating assessments.
- C. Request theadministrator to change the Perspective in Data Security Policy for the Control Manager's job role.
- D. Request the administrator to assign Data Security Policies with correct perspectives to the Assessor's job role.
- E. It is not possible to change the participants after Data Security Policies are assigned.
Answer: B
NEW QUESTION 45
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 operational assessments for all controls.
- C. He or she will be able to review results of all prior assessments of all types for all controls.
- D. He or she will beable to review only results of prior operational assessments for this control.
- E. He or she will be able to review results of all prior Audit tests and operational assessments for this control.
Answer: E
NEW QUESTION 46
You are working with the customer to gather Risk-Control data for the data import process. The customer has information in multiple formats. Which format should be used for importing the data?
- A. .xml
- B. .pdf
- C. .doc
- D. .xlsx
- E. .txt
Answer: A
NEW QUESTION 47
Which two activities can be performed using Financial Reporting Compliance? (Choose two.)
- A. Conduct intuitive audits of general ledger balances with journal details.
- B. Gain real-time access to live financial data and proactively resolve issues.
- C. Provide self-service access to reporting and analysis against financial transactions.
- D. Review control assessment results, along with any effectiveness issues found.
- E. Continuously monitor financial transactions and role-based remediation of transaction incidents.
- F. Review and approve the accuracy and completeness of control descriptions.
Answer: E,F
NEW QUESTION 48
Which three are true about implementing a best practice solution for Financial Reporting Compliance?
(Choose three.)
- A. It promotes rapid implementation and go-live.
- B. It promotes successful adoption and minimizes on-going cost of operation.
- C. It promotes go-live with minimal acceptance testing and user training.
- D. Large scope of project requires higheffort for maintenance and administration.
- E. It provides maximum return on investment with minimum project risk.
Answer: A,B,E
NEW QUESTION 49
After generating an XML file export of Advanced Controlsperspectives, you receive a message that the export job has been generated.
What are the three steps you need to perform in order to download and review the formatted export file?
(Choose three.)
- A. Open with an HTML editor.
- B. Click the Item Results link.
- C. Click the Export File button.
- D. Navigate to Monitor Jobs and click the message link for the export job.
- E. Open with an XML editor, such as Excel.
Answer: C,D,E
NEW QUESTION 50
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. A user sets the Status of the incident to "Resolved".
- B. A global condition was added that resolves the conflict and a subsequent evaluation of controls finds that the incident no longer exists.
- C. The incident is resolved inFusion Cloud and a subsequent evaluation of controls finds that the incident no longer exists.
- D. A user sets the State of the incident to "Remediate".
- E. The incident is resolved using simulation in AAC and a subsequent evaluation of controls finds that the incident no longer exists.
Answer: C,D
NEW QUESTION 51
You are implementing Advanced AccessControls and there is a requirement for a control to monitor user access to specific, client-defined access points which give users the ability to both initiate a purchase order and approve payments on that purchase order.
Which is a valid option to implement the control?
- A. From the "Access Entitlements" page create two entitlements containing the respective client-defined access points. Create an access model from the "Models" tab of Advanced Controls, based on the entitlements you created.
- B. Select Actions > Create Access Control from the "Controls" tab of Advanced Controls.
- C. From the "Access Entitlements" page create two entitlements containing the respective client-defined access points. Create an access model from the "Models" tab of Advanced Controls, based on the entitlements you created. Finally, deploy an access control in the "Controls" tab of Advanced Controls, and select the access model you created.
- D. Create an access model from the "Models" tab of Advanced Controls, and then define an access point filter for each individual client-defined access point.
- E. Create an access entitlement from the "Access Entitlements" page, then select Actions > Create Access Control from the "Controls" tab of Advanced Controls, and select the entitlement you created.
Answer: C
NEW QUESTION 52
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 Risk Manager Composite, Control Manager Composite, and Issue Manager Composite
- B. Seeded Risk Issue Manager and Control Issue Manager
- C. Seeded Issue Manager Composite
- D. Seeded Issue Manager Composite and IssueValidator Composite
Answer: A
NEW QUESTION 53
You are remediating access incidents in Advanced Access Controls (AAC), and have just completed the remediation of a segregation of duties conflict for users in Fusion Security by removing the conflicting access from the users.
What status do you set for the incident in AAC?
- A. Remedy
- B. Remediation
- C. Resolved
- D. Accepted
- E. Authorized
Answer: B
NEW QUESTION 54
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