Oracle Risk Management Cloud 2018 Implementation Essentials

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Oracle Risk Management Cloud 2018 Implementation Essentials

You have built a transaction model to identify possible duplicate charges between invoicing and expense credit cards. The model logic already includes two
standard filters that identify amounts and suppliers that are the same or similar, as shown:
Which additional date filter will further refine the set of duplicate charges found?

The "Payables Invoice" object's "Invoice Date" attribute is greater than the "Expense Report Credit Card Transaction" object's "Transaction Date" attribute. ✘ The "Expense Report Credit Card Transaction" object's "Last Updated Date" attribute is greater than the "Relative Value" of 3 months. ✘ The "Expense Report Credit Card Transaction" object's "Transaction Date" attribute is not blank. ✘ The "Payables Invoice" object's "Invoice Date" attribute is similar to the "Expense Report Credit Card Transaction" object's "Transaction Date" attribute within +/-10 days. ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

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?

One job will run for the two objects based on transactions dated before the Transaction Created As of Date. ✘ One job will run for the two objects and the Transaction Created As of Date has no impact on the data. ✘ One job will run for the two objects based on transactions dated after the Transaction Created As of Date. ✘ Two jobs will run for the two objects based on transactions dated after the Transaction Created As of Date. ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

A Control Manager has changed the status 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?

In Review ✘ Active ✘ Reported ✘ Approved ✔ In Edit ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

How do 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. ✘ Use the default lookup codes because there is no way to update the existing ones. ✘ Because you cannot add new values, update one 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. ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

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?

Seeded Issue Manager Composite and Issue Validator Composite ✘ Seeded Risk Issue Manager and Control Issue Manager ✘ Seeded Issue Manager Composite ✘ Seeded Risk Manager Composite, Control Manager Composite, and Issue Manager Composite ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

After adding a new control in Financial Reporting Compliance, the control owner clicks Submit. Users with the Control Reviewer and Control Approver roles exist.
What is the expected outcome?

The control goes into the "Waiting for Approval" state. ✘ The control goes into the "New" state. ✘ The control goes into the "Approved" state. ✘ The control goes into the "In Review" state. ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

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. ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

You build an access model with two entitlements. Each entitlement has four access points. The entitlements do not have any access points in common.
How many access point combinations will be analyzed?

20 ✘ 16 ✘ 8 ✘ 4 ✔ 25 ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

You are configuring security and you do not want the risks to go through the review and approve process each time they are updated. How will you meet this
requirement?

Add the Risk Reviewer Composite duty role to the person who creates the risks so he or she would be able to review them before saving the record. ✘ Use only the Risk Approver Composite duty role in the configurations so the risks will not go through the review process. ✘ Ensure that only the upper management is given the Risk Reviewer Composite duty role so they could review the risks that they want to review. ✘ Ensure that no user has been assigned a job role that includes the Risk Reviewer Composite or Risk Approver Composite Duty Role. ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

10.

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. When the customer logs in to Financials Risk Compliance (FRC), the customer cannot see any
controls.
Which step was missed during the import process?

Data security policies for Controls were not created. ✘ The Controls were not related to any risk objects. ✘ The parent process was never approved. ✘ The Control Method was not set to a valid value. ✔

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Answer & Solution

Answer: Option B

Solution:

It provides fallback for IE8.

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