Free Oracle Risk Management Cloud 2022 Implementation Professional Exam 1Z0-1058-22 Exam Practice Test

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?

• He or she will be able to review results of all prior assessments of all types for this control.
• He or she will be able to review results of all prior Audit tests and operational assessments for this control.
• He or she will be able to review only results of prior operational assessments for this control.
• He or she will be able to review results of all prior operational assessments for all controls.
• He or she will be able to review results of all prior assessments of all types for all controls.

Youhave 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.)

• To relate controls to risks, the risks must be in “approved” state.
• You cannot use the Data Migration tool to add control records to map to existing risks.
• You can use the Data Migration tool to add control records for the existing risks.
• To relate controls, risks must be assigned to the same perspective that isassigned to the control you want to map it to.
• You can manually add control definitions and relate them to the risks in Financial Reporting Compliance.

You are implementing Advanced Access Controls for a client who wants to limit the seeded job role “Application Access Auditor”. This job role should NOT include system configuration duties, but allows the user to monitor jobs schedules forAdvanced Controls. After the seeded job role is copied, that two duty roles should be removed to comply with the access restrictions? (Choose two.)

• Access Control Manager
• Advanced Control System Administrator
• Access incident Results Manager
• Application Data Source Manager
• Access Model Manager

Select three fields that are required to createan impromptu assessment. (Choose three.)

• Due Date
• Template
• Name
• Reviewer
• Perspectives
• Activity

You are validating your customer’s import template before import. The customer requires that all controls be set up so they are noted to be used for the Audit Test assessment type. How do you verify that this has been done?

• The Assessment Flag and the Audit Testing Flag are both set to “Y.”
• The Control has a related process.
• The Control status filed is set to “Audit Test.”
• The Control comment filed has a notation for “Audit Test.”

During implementation, you created a risk object and successfully mapped it to a control object. The client’s Risk Owner is able to access the risk but not the control. Why did this happen?

• The Risk Administrator needs to run the synchronize jobs to populate the mapping.
• The Risk Owner account is inactive.
• The Risk Owner role does not have the right privileges.
• The risk and control objects are inactive and need to be made active.

Howdo you add values to a Risk Type list of values?

• Populate the Import template with the new values in the Issue Severity column on the Controls tab.
• Add the lookup codes to the GRC_RISK_TYPE Lookup Type.
• Because you cannot add new values, updateone of the existing lookup codes to what the client wants it to be.
• Add the lookup codes to the GRCM_RISK_TYPE Lookup Type.
• Use the default lookup codes because there is no way to update the existing ones.

How do you associate a risk to a control?

• On the Related Controls tab of risk definition, add the control.
• To associate a controlto a risk, the control needs to be in the Review state.
• In the related object section of process definition, add the control to the risk.
• On the Related Objects tab of control definition, add the risk.
• The only way to create risk-control associations is through data import.

Which three are true about implementing a best practice solution for Financial Reporting Compliance? (Choose three.)

• Large scope of project requires high effort for maintenance and administration.
• It promotes rapid implementation and go-live.
• It promotes go-live with minimal acceptance testing and user training.
• It provides maximum return on investment withminimum project risk.
• It promotes successful adoption and minimizes on-going cost of operation.

Identify the fourstatuses and states in which you can edit an issue’s description, assuming you have the necessary privileges to edit the issue. (Choose four.)

• Status: On Hold; State: In Review
• Status: Closed; State: Final Close
• Status: Open; State: Approved
• Status: Closed; State: Closed – Awaiting Approval
• Status: Open; State: In Edit
• Status: On Hold; State: Awaiting Approval
• Status: Open; State: New
• Status: On-Hold; State: Reported