[UPDATED] Oracle 1z0-1057-22 Certification Exam Questions

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Oracle 1z0-1057-22 Exam is a multiple-choice exam that consists of 60 questions. The candidates have 105 minutes to complete the exam, and they must score at least 70% to pass. 1z0-1057-22 exam can be taken at any authorized testing center or online, and it requires a fee. Upon passing the exam, the candidates earn the Oracle Project Management Cloud 2022 Implementation Professional Certification, which validates their skills and knowledge in implementing Oracle Project Management Cloud applications.

Oracle 1z0-1057-22 exam covers topics such as project management, project planning, risk management, project team management, and project budgeting. Candidates must demonstrate their proficiency in these areas to pass the exam. Oracle Project Management Cloud 2022 Implementation Professional certification provides a comprehensive understanding of the Oracle Project Management Cloud 2022 solution, enabling professionals to plan, manage, and execute successful projects.

 

NEW QUESTION # 51
You are now the project manager of a newly created implementation project. Which two items are not part of managing an implementation project?

• A. Select the offering you want to implement.
• B. Generate a list of setup tasks.
• C. Enable optional functional areas and features by opting in.
• D. Assign tasks to various users who are responsible for managing setup data.
• E. Monitor the progress of completing setup tasks.

Answer: A,C

Explanation:
Selecting the offering you want to implement and enabling optional functional areas and features by opting in are not part of managing an implementation project. These are part of configuring an implementation project, which is done before managing an implementation project. Configuring an implementation project allows you to define the scope and features of your implementation based on your business needs. Managing an implementation project involves assigning tasks to various users who are responsible for managing setup data, monitoring the progress of completing setup tasks, and generating a list of setup tasks. These are part of executing an implementation project, which is done after configuring an implementation project. Executing an implementation project allows you to perform the setup tasks and validate the setup data for your implementation. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/implement-project-financial-management-applications.html#OAPFM2356021

NEW QUESTION # 52
You are managing a project based on a Waterfall model. You define a project and a project plan in Oracle Project Management with tasks and subtasks applicable to each of the phases of the project: Initiation, Discovery, Design, Build, Test, and Deploy. As a project manager, you want to define deliverables for your project requirements that are elucidated during the Discovery phase of your project. You now want to understand how the inheritance between requirements, tasks, and deliverables works.
Which two are correct statements in this scenario? (Choose two.)

• A. The association of a deliverable with a task is dependent on associating a requirement with a task.
• B. You associate a deliverable with a task independent of associating a requirement with a task.
• C. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
• D. A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.

Answer: B,C

Explanation:
According to Oracle sources1, the inheritance between requirements, tasks, and deliverables works as follows:
You can associate a deliverable with a task independent of associating a requirement with a task. You can also associate a deliverable with a requirement independent of associating a task with a requirement1.
A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement. You must manually associate the deliverable with the tasks that produce it1.
Therefore, the correct answer is B and D.
1: Can deliverables for projects and tasks be inherited from associated requirements? - docs.oracle.com (index 1) In Oracle Project Management, you can define requirements, tasks, and deliverables for your project based on your project methodology and lifecycle. Requirements are statements of needs or expectations that must be met by the project outcome. Tasks are units of work that must be performed to complete the project. Deliverables are products or services that are produced or provided as part of a task or requirement. Two correct statements about how the inheritance between requirements, tasks, and deliverables works are:
You associate a deliverable with a task independent of associating a requirement with a task. This means that you can create a deliverable for a task regardless of whether the task is linked to a requirement or not.
A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement. This means that you have to manually associate a deliverable with a task even if both the deliverable and the task are linked to the same requirement.

NEW QUESTION # 53
Select two correct statements about project classifications on a template. (Choose two.)

• A. Project Classification is a mandatory field on a project template.
• B. Set Code is not required for a project class category in a project classification.
• C. When a project is created from a template, the required project classifications must be entered.
• D. Project class category in a project classification must be associated with a Set Code.

Answer: C,D

Explanation:
Project classifications are used to group and report on projects based on different criteria. A project template can have one or more project classifications, which can be either required or optional. When a project is created from a template, the required project classifications must be entered, while the optional ones can be left blank. A project class category in a project classification must be associated with a set code, which determines the list of values for the project class. Project classification is not a mandatory field on a project template, but it is recommended to use it for reporting purposes. Reference: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/20c/oapfm/manage-project-plans.html#OAPFM2355961

NEW QUESTION # 54
What are three configuration items that you need to set up by using the Project Organizations functional area in Project Financial Management configurations? (Choose three.)

• A. Manage Project Unit Options
• B. Manage Project Unit Organizations
• C. Manage Project Organization Classifications
• D. Mange Business Unit
• E. Mange Project Types

Answer: A,B,C

Explanation:
Reference https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/define-project-organizations.html#OAPFM3094543 Topic - Manage Project Unit Organizations

NEW QUESTION # 55
Your customer wants a project start date to cascade to the project tasks but does not want the finish date to be cascaded. Identify the default setup in a project template that can be used to enable this. (Choose the best answer.)

• A. Do not cascade date changes.
• B. Cascade change to the finish date.
• C. Cascade change to the start date.
• D. Cascade change to the start date and the finish date.

Answer: C

Explanation:
Reference https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-control-configuration-manage-financial-and-project-plan-types.html#OAPFM79055 Topic - Project Date Cascade Options Use the Cascade option choice list to determine whether your changes to project dates cascade to tasks.
Use the Basic Information region on the Edit Project Template page to select one of the following options:
Do not cascade project date changes to tasks: Both start and finish dates are editable. However, you must ensure the following:
The project start date is not later than the earliest task date.
The project finish date is not earlier than the latest task date.
Cascade project start date change to affected tasks: You can edit only the project start date.
Cascade project finish date change to affected tasks: You can edit only the project finish date.
Do not cascade project date changes to tasks is the default value. You must select the cascade option each time you change the project dates, as your selection isn't saved for future date changes.
If you select to roll up planned dates for tasks or are using an external application for scheduling, then you can't modify the project start or finish dates.

NEW QUESTION # 56
In a Project Draft Invoice preview, quantity (hours) and unit price (bill rate) are shown as fields on the invoice. Quantity and unit price are then used to calculate the line total, then the total price of the invoice. After the invoice is transferred or created in Receivables, the invoice detail has a quantity of 1, and a unit price equal to the line total. The detailed Unit Price/Quantity does not come through on the Receivables invoice.
Identify the correct statement about details in the receivables invoice. (Choose the best answer.)

• A. The project sends the invoice line description and the invoice distributions to Receivables, but not the invoice header.
• B. The project sends only the invoice header to Receivables, not the invoice line description and distributions.
• C. The project sends the invoice header, invoice line description, and the invoice distributions to Receivables.
• D. The project sends only the invoice header and invoice line description to Receivables, not the invoice distributions.

Answer: C

NEW QUESTION # 57
Your customer wants additional project information for detailed account balance maintenance, reconciliation, and reporting. Identify the configuration in subledger accounting that can be set up to fulfill this requirement. (Choose the best answer.)

• A. Mapping Sets
• B. Accounting Method
• C. Supporting References
• D. Accounting Rule
• E. Journal Rules

Answer: C

Explanation:
Reference https://docs.oracle.com/cloud/latest/projectcs_gs/OAPFM/OAPFM1125357.htm#OAPFM1125357 Assignment of Supporting References Supporting references may be used to capture transaction values on journal entry lines. A supporting reference can be used on a journal entry rule set only if it's assigned a source from the event class of the journal entry rule set.
Creating Supporting References: Explained
Supporting references are used to store additional source information about a subledger journal entry at the line level.
Supporting references with balances establish subledger balances for a particular source and account for a particular combination of supporting references plus the account combination.
For example:
If a journal line contains a supporting reference that includes two sources, Customer Type and Customer Name.
Balances are created for the account combination, plus customer name and customer type.
Examples of how you may want to use supporting reference balances are to:
Facilitate reconciliation back to the subledgers and source systems by tagging journal entries with transaction and reference attributes.
Create balances by dimensions not captured in the chart of accounts.
Reporting using dimensions not captured in the chart of accounts.
Enrich Oracle Fusion Business Intelligence Applications reporting on subledger journals.
Profit and loss balances by dimensions not captured in the chart of accounts Define supporting references to hold additional supporting information for detailed account balance maintenance or reconciliation and reporting requirements.

NEW QUESTION # 58
Your customer has different accounting and project accounting periods, and sometimes enters invoices with an invoice date in the open project accounting and closed accounting periods. Which two statements are true about how project accounting and accounting dates will be populated in such invoices? (Choose two.)

• A. Accounting date is the first day of the first open accounting period.
• B. Project accounting date is the first day of the first open project accounting period.
• C. Project accounting date is the last day of the open project accounting period.
• D. Accounting date is the same as the original invoice date.
• E. Project accounting date is the same as the original invoice date.

Answer: A,E

NEW QUESTION # 59
Which three are true of what you can do in the Project Requirements work area?

• A. Create project tasks for backlog items.
• B. Organize backlog items by requirements.
• C. Create an execution project.
• D. Create an implementation project.
• E. Manage your list of backlog items.

Answer: A,B,E

Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapem/manage-project-requirements.html#OAPEM874365 Project Requirements: Explained Requirements enable you to capture your business needs. If you manage projects using the Agile development methodology, you start by identifying the high-level requirements and decomposing them further to manage the completion of work on the requirement.
You use the Project Requirements work area to:
Organize backlog items by requirements
Manage your list of backlog items
Create project tasks for backlog items

NEW QUESTION # 60
Your customer has a requirement to import and process third-party transactions that are "costed" and "accounted".
Which configuration option needs to be set satisfy the requirement? (Choose the best answer.)

• A. Import Options
• B. Transaction Source Options
• C. Document Entry Options
• D. Document Options

Answer: B

Explanation:
Reference https://docs.oracle.com/cd/E51367_01/projectop_gs/OAPJC/F1071488AN1004C.htm

NEW QUESTION # 61
You have a billable project for which the following details are provided:
Associated Inception-To-Date (ITD) Project Actual Cost: USD 60
Associated Project Budgeted Cost: USD 300
Contract Amount: USD 1000
Project Funded Amount: USD 750
Sum of Existing Revenue Events: USD 80
Identify the Associated Project Spent revenue that will get generated based on the preceding details. (Choose the best answer.)

• A. USD 184
• B. USD 120
• C. USD 134
• D. USD 70

Answer: D

Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjb/manage-project-contract-revenue.html#OAPJB164173 Associated Project Percent Spent Example The following formula calculates the percent spent revenue for the associated project.
((Sum of ITD Actual Cost for every subtask that is part of the associated task / Sum of Total Budgeted cost for every task that is part of associated task) x Associated Project Funded Amount) - Sum of Existing Invoice Event Amounts for the Associated Project ((60/300) x 750) - 80 = 70 ((Actual Cost / Budgeted Cost) x Budgeted Revenue) - Sum of Revenue Event Amount

NEW QUESTION # 62
You are managing a project based on a Waterfall model. You define a project and a project plan in Oracle Project Portfolio Management with tasks and subtasks applicable to each of the phases of the project: Initiation, Discovery, Design, Build, Test, and Deploy. As a project manager, you want to define deliverables for your project requirements that are elucidated during the Discovery phase of your project. You now want to understand how the inheritance between requirements, tasks, and deliverables works. Identify the two correct statements in this respect. (Choose two.)

• A. The association of a deliverable with a task is dependent on associating a requirement with a task.
• B. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
• C. A deliverable associated with a requirement is automatically associated with the tasks created for that requirement.
• D. You associate a deliverable with a task, independent of associating a requirement with a task.

Answer: B,D

Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapem/define-project-deliverables.html#OAPEM1122079 Associate deliverables with one or many tasks or requirements at any level. Associate existing deliverables to tasks or requirements or create deliverables directly for tasks or requirements. You can delete a deliverable in New status if it is not associated with tasks or requirements.
Can deliverables for projects and tasks be inherited from associated requirements?
No. A deliverable associated with a requirement is not automatically associated with the tasks created for that requirement.
You associate a deliverable with a task, independent of associating a requirement with a task.

NEW QUESTION # 63
Your customer wants to generate accounting based on project information associated with the transaction for all subledger transactions. Identify three subledger applications for which the project source is available for deriving accounts when configuring subledger accounting. (Choose three.)

• A. Payables
• B. Purchasing
• C. Receipt Accounting
• D. Fixed Asset

Answer: A,B,C

Explanation:
Ref: https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapfm/project-costing-configuration-define-project-costing-integrations.html#OAPFM3094605 Topic - Deriving Projects-Related Accounts

NEW QUESTION # 64
Which product offering simplifies the planning, budgeting, and forecasting capabilities as part of Project Management Cloud?

• A. Project Billing
• B. Enterprise Contract Management
• C. Project Costing
• D. Project Control

Answer: D

NEW QUESTION # 65
Identify three purposes for which the project resource search index is used. (Choose three.)

• A. Calculate Resource Qualification Scores
• B. Calculate Resources Availability Scores
• C. Provide absence details for resources
• D. Display resource details
• E. Filter counts while you search for resources

Answer: A,C,D

NEW QUESTION # 66
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