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Oracle Risk Management Cloud 2018 Sample Questions:
1. You completed the data migration successfully. You created 100 controls, an Organization Perspective, and relationship of controls to the Organization Perspective. All controls are related to one perspective item. The Control Manager logs in to the application to view the new controls, yet there are none available for his or her review.
Identify three reasons for this. (Choose three.)
A) The Perspective Hierarchy was not associated to the Control Object.
B) No risks were mapped to the imported controls.
C) There was no Control Type associated with the controls.
D) The Control Manager was not given the correct data security policy to access the controls.
E) The Perspective Hierarchy is not in the Approved state.
2. 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 to users 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 Business Process hierarchy for security and the Region hierarchy for reporting of controls.
B) Use the Region hierarchy for security and the Business Process hierarchy for reporting of controls.
C) Use the Region hierarchy initially, and later use both Region and Business Process hierarchies for security.
D) Use both Region and Business Process hierarchies solely for reporting purposes.
3. Which three tasks should be completed before starting the Financial Reporting Compliance implementation?
(Choose three.)
A) Identify Financial Reporting Compliance users for everyday use, administration, and sustained use.
B) Create a project plan with objectives, goals, and exit criteria.
C) Migrate the organization's existing risk and control matrix into Financial Reporting Compliance.
D) Complete control review and assessment for one period/cycle with the actual business owners.
E) Plan to go-live with a simple scope and later expand the solution to include additional business units/organizations/compliance frameworks.
4. Your client has configured separate roles for control assessor 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 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.
B) The assessor can request the reviewer to attach the document during the review.
C) On the Assessment tab in the Control definition, the assessor can select the assessment and click the Complete Assessment button. He or she can attach the document and resubmit the assessment.
D) 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.
5. How do you identify Financial Reporting Compliance Cloud's key stakeholders?
A) Identify users who will create customer invoices, and receive and apply customer payments.
B) Identify executives who will manage customer balances and recognize revenue.
C) Identify executives who need to certify internal controls for SOX or similar mandates.
D) Identify users who need to create and submit expense reports easily.
Solutions:
| Question # 1 Answer: B,C,D | Question # 2 Answer: B | Question # 3 Answer: A,D,E | Question # 4 Answer: A | Question # 5 Answer: B |

