[Jan 24, 2022] 1Z0-1058-20 Exam Dumps, 1Z0-1058-20 Practice Test Questions
Free 1Z0-1058-20 Study Guides Exam Questions & Answer
NEW QUESTION 27
How do you populate the Control Method field with a new custom value, such as a third-party application'?
- A. Use Lookup Type of the new lookup value.
- B. Enter the new value directly in the Controlmethod field.
- C. Use Lookup Code of the new lookup value.
- D. Use Lookup Meaning of the new lookup value.
Answer: B
NEW QUESTION 28
Which three risk assessment activity types areavailable in Financial Reporting Compliance? (Choose three.)
- A. Design Review
- B. Audit
- C. Assess Risk
- D. Certify
- E. Quantitative Analysis
- F. Qualitative Analysis
Answer: A,C,D
NEW QUESTION 29
The internal auditor advised the Control Owner of North America to perform assessment for two P2P controls.
Which three steps can the Control Owner perform to kick-off assessments for only those two controls?
(Choose three.)
- A. Initiate a planned assessment that includes all controls assigned toperspective P2P.
- B. Perform impromptu assessments for the two controls.
- C. Initiate a planned assessment and include the two controls as part of the same assessment.
- D. Enable impromptu assessments during configuration of module objects.
- E. Initiate two planned assessments, one for each control.
Answer: A,D,E
NEW QUESTION 30
You need to schedule thereport "Access Violations by User." Which two steps do you take to create the saved parameters for the report schedule? (Choose two.)
- A. Highlight the report name and click Run Now.
- B. Navigate to Administration Reports.
- C. Click Save Report Parameters to create saved settings.
- D. Select Display Scheduled Reports.
- E. Navigate to Scheduling under Setup and Administration.
Answer: A,C
NEW QUESTION 31
You want to identify Controls with the most Incidents, with the condition that the identified Controlsshould have 80% of all Incidents. To do this, you have imported a custom object that contains the number of incidents associated with each control, and have added that object to a transaction model.
Which pattern filter must you now apply?
- A. Pareto
- B. Absolute Deviation
- C. Anomaly Detection
- D. Clustering
- E. Mean
Answer: A
NEW QUESTION 32
You are implementing Advanced Financial Controls and you want to identify suspect transactions where the payment amount is less than $20 USD. However, you only want the results returned to be temporary.
What will you build in order to accomplish your objective?
- A. Template
- B. Business object
- C. Filter
- D. Model
- E. Control
Answer: D
NEW QUESTION 33
How do youassociate a risk to a control?
- A. The only way to create risk-control associations is through data import.
- B. In the related object section of process definition, add the control tothe risk.
- C. On the Related Objects tab of control definition, add the risk.
- D. On the Related Controls tab of risk definition, add the control.
- E. To associate a control to a risk, the control needs to be in the Review state.
Answer: D
NEW QUESTION 34
Which two steps are required to set up two levels of approval for new controls,which are added after the initial import? (Choose two.)
- A. On the Controls tab of the Import template, set the control state to NEW for each control record.
- B. Identify the organizations or business units for which users will perform review orapproval.
- C. Identify the other roles to be provided for control managers.
- D. Identify users who will perform control review and approval.
Answer: B,D
NEW QUESTION 35
During implementation, you created a Financial ReportingCompliance superuser and assigned this user the following roles:
* Enterprise Risk and Control Manager
* IT Security Manager
* Employee
The superuser logs in to Financial Reporting Compliance but is not able to create new Data Security Policies.
What is wrong?
- A. The superuser's account is inactive and his or her account needs to be activated.
- B. The superuser's account is not yet approved by his or her supervisor in Financial Reporting Compliance.
- C. The superuser's account is created but the synchronization jobs have not been run.
- D. The application will not allow a user to both create users and assign them roles.
Answer: C
NEW QUESTION 36
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
- C. Fusion Access Condition
- D. Access Point and User Business Object
- E. Access Point and Fusion Access Condition
Answer: A
NEW QUESTION 37
How do you add values to a Risk Type list of values?
- A. Use the default lookup codes because there is no way to update the existing ones.
- B. Populate the Import template with the new values in the Issue Severity column on the Controls tab.
- C. Add the lookup codes to the GRCM_RISK_TYPE Lookup Type.
- D. Add the lookup codes to the GRC_RISK_TYPE Lookup Type.
- E. Because you cannot add newvalues, update one of the existing lookup codes to what the client wants it to be.
Answer: C
NEW QUESTION 38
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 "Report Number" where the "Expense Type" has an "Equals" 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 "Person" 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 "Person" where the
"Expense Type" has an "In" condition for values that include taxi, car, mileage. - E. 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.
Answer: E
NEW QUESTION 39
What would happen to an access incident in Advanced Access Controls (AAC) that has been remediated and has a status of "Closed," but poses a conflict again during a subsequent evaluation of controls?
- A. The incident is deferred.
- B. The incident remains in "Closed" status and additional remedial action cannot be taken.
- C. The incident remains in "Closed" status and assigned users receive a notification that additional access incidents have been identified.
- D. The incident is copied and a new incident is created based on the original incident.
- E. The incident status changes to "Assigned."
Answer: C,E
NEW QUESTION 40
You have defined an initial Perspective Hierarchy for your client in theAdvanced Controls module. After refining their business requirements, your client wants to expand the existing hierarchy to include 150 perspective items in various levels. For efficient processing, you decide to use the GRC data migration feature to import the new items.
Which three are valid processing steps required to define the export file? (Choose three.)
- A. Click the Create Import Template button.
- B. Navigate to Risk Management Tools > Setup and Administration > Data Migration, and select Advanced Controls.
- C. Generate Template as Without Data.
- D. Generate Template as Without Data - Perspectives Only.
- E. Navigate to Manage Module Perspectives.
Answer: B,C,E
NEW QUESTION 41
A Control Manager has changed thestatus of an issue to "In Remediation" and has submitted it.
What will be the state of the Issue if there is no issue validator, reviewer, or approver configured?
- A. Approved
- B. Reported
- C. In Review
- D. In Edit
- E. Active
Answer: B
NEW QUESTION 42
Which two activities can be performed using Financial Reporting Compliance? (Choose two.)
- A. Review control assessment results, along with any effectiveness issues found.
- B. Provide self-service access to reporting and analysis against financial transactions.
- C. Continuously monitor financial transactions and role-based remediation of transaction incidents.
- D. Conduct intuitive audits of general ledger balances with journal details.
- E. Gain real-time access to live financial data and proactively resolve issues.
- F. Review and approve the accuracy and completeness of control descriptions.
Answer: C,F
NEW QUESTION 43
You are building a transaction model to identify invoices with USD amounts that are greater than the supplier's average invoice amount. The order of the filters is important.
1. Add an "Average" Function filter grouping by "Supplier ID" where "Invoice Amount" is greater than 0.
2. Add a standard filter where "Invoice Currency" equals "USD."
3. Add a standard filter where thedelivered "Average Value" attribute is less than "Invoice Amount." What is the correct order of the filters for this transaction model?
- A. 3, 2, 1
- B. 1, 2, 3
- C. 2, 3, 1
- D. 1, 3, 2
- E. 2, 1, 3
Answer: B
NEW QUESTION 44
You are helping your client identify and define their controls. Youhave determined that your client requires two perspectives: Business Units and Regulatory Standards.
The controls are going to be secured by the business unit, and you want to ensure that when the client defines new controls, it is mandatory to assign a Business Units perspective to the control. You are going to set the
"Required" field to "yes" for the Control-Business Units association.
Where do you do this in the product?
- A. The Create Control screen
- B. The Create Perspectives screen
- C. TheImport template
- D. The Manage Module Perspectives screen
- E. The Manage Object Perspectives screen
Answer: B
NEW QUESTION 45
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. Identify the type of assessments included in each assessment cycle.
- 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. Determinethe main objectives of deploying the control.
- E. Determine if control assessments are planned ahead of time or are run impromptu.
Answer: B,C,E
NEW QUESTION 46
The GRC Business owner responsible for reviewing and investigating access incidents related to the "Order to Cash" perspective does not see any worklists for the generated results. You have validated that:
1. Other business owners are able to view their assigned worklists without any problem
2. Incidents have been generated for the controls related to Order to Cash
3. The business owner's assigned roles contain the correct functional privileges and data access to the correct perspective values What is the reason the business owner cannot see any worklists for the generated incidents?
- A. The Control Perspectives are not linked to the control.
- B. The underlying model is not linked to Order to Cash.
- C. The Result Management Perspective Assignment has not been linked.
- D. Worklist assignment does not include the business owner.
- E. The business owner was recently assigned the role and the worklist needs to be refreshed.
Answer: D
NEW QUESTION 47
When running Synchronize Transaction from the Data Sources page of Application Configurations, which statement is true when you have two models using invoice and payment business objects?
- A. One job will run for the two objects based ontransactions dated before the Transaction Created As of Date.
- B. Two jobs will run for the two objects based on transactions dated after the Transaction Created As of Date.
- C. One job will run for the two objects based on transactions dated after the Transaction Created As of Date.
- D. One job will run for the two objects and the Transaction Created As of Date has no impact on the data.
Answer: C
NEW QUESTION 48
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