Free PDF Quiz 2025 Oracle 1z0-1057-24: High Pass-Rate Oracle Project Management Cloud 2024 Implementation Professional Associate Level Exam

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Oracle 1z0-1057-24 Exam Syllabus Topics:

Topic	Details
Topic 1	Setting up Common Project Configuration: Targeting project configuration specialists, this section involves managing Subledger Accounting, setting up Project Financial Management Organizations, and managing Reference Data Sharing to ensure consistent and accurate financial reporting.
Topic 2	Configure Project Resource Management: This section measures the skills of resource managers and focuses on defining project enterprise labor resources to optimize resource allocation and utilization.
Topic 3	Using Program Management: Targeting program managers, this section involves using program management and reporting tools to oversee multiple projects and ensure alignment with organizational objectives.
Topic 4	Describing Navigation, User Experience, Personalization, and Approvals: Targeting user experience designers, this section evaluates knowledge of business processes supported by approvals and workflows, setting up approval and notification tasks, and concepts related to navigation, user experience, and personalization within the application.
Topic 5	Configure Project Control: This section measures the skills of project control specialists and focuses on managing project budgets and forecasts to maintain control over project financials and performance.
Topic 6	Configure Project Management: Aimed at project execution managers, this section describes common project execution components, managing issues and deliverables, project requirements, configuring social networks for project execution, managing project gates, and using Application Composer for project execution management to ensure seamless project operations.
Topic 7	Configure Project Performance Reporting: This section assesses the skills of performance reporting analysts and includes configuring and managing key performance indicators for project performance reporting to monitor and evaluate project success effectively.
Topic 8	Using Functional Setup Manager: This section measures the skills of functional setup managers and focuses on understanding the Functional Setup Manager and the Rapid Implementation Workbook, which are essential for configuring and deploying Oracle Project Management Cloud applications.
Topic 9	Configure Project Foundation: This section assesses the skills of project foundation specialists and includes setting up project calendars and periods, defining types and categorizations, managing project resources, describing rate schedules, project types, setting up transaction sources, and managing labor schedules to establish a solid foundation for project management.
Topic 10	Configure Project Billing: Targeting billing specialists, this section involves configuring project cross-charging and transfer pricing, and managing project invoicing and revenue processes to ensure accurate and efficient billing operations.
Topic 11	Describing Applications Security: Aimed at security administrators, this section covers the Applications Security Console, identification of roles in a seeded security implementation, and management of roles and duties to ensure secure access and operations.
Topic 12	Project Management Overview: This section assesses the skills of project management consultants and focuses on understanding the components of Oracle Project Management Cloud, including its integration capabilities.

Oracle Project Management Cloud 2024 Implementation Professional Sample Questions (Q41-Q46):

NEW QUESTION # 41
You have closed the project accounting period with a warning, but you are unable to close the accounting period due to an error.
Identify two reasons for this problem. (Choose two.)

A. Unaccounted transactions have not been swept to the next period.
B. Transactions entered in an integrated Oracle Cloud Application are accounted, but not yet transferred and imported into Oracle Project Portfolio Management Cloud.
C. The corresponding Oracle Payables Cloud accounting period has not been closed.
D. Unaccounted transactions are not imported.
E. Pending burden summarization items have not been processed.

Answer: A,B

Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19a/oapjb/record-accounting-for- project-billing.html#OAPJB340382 Topic - Accounting Period and Project Accounting Period Closing: How Validation Works

NEW QUESTION # 42
Which two statements are true about the cross-charge method, Borrowed and Lent?

A. This method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations within a legal entity.
B. You must set up the contract business unit to use this method.
C. Costs or revenue are shared based on transfer price rules with this method.
D. This method creates a formal internal invoice.

Answer: A,C

Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjc/process-project-cost- transactions.html#OAPJC284872 What's a borrowed and lent processing method?
A method of processing cross-charge transactions that generates accounting entries to share revenue or transfer costs from theprovider organization to the receiver organization within a legal entity.An internal invoice isn't created but costs or revenue are sharedbased on the transfer price rules.This method provides a financial view of the performance of an organization.

NEW QUESTION # 43
You want tocreate a few project roles so as to restrict accessin the Project Financial Management work area to only the specific projects in which an employee is assigned as a team member. What are the two default project roles available to meet this requirement? (Choose two.)

A. Project Accountant- Security based on BU for Assets, Expenditure BU for Costs and Contract BU for Revenue
B. Project Executive- Security based on Project Hierarchy
C. Project Billing Specialist- Security based on Contract BU
D. Project Manager- Security based on Project Assignment
E. Project Team Member- Security based on Project Assignment

Answer: D,E

Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/applications-common/r13-update17d/faser/implementing-security- in-oracle-fusion-project-portfolio-management.html#FASER1840867

NEW QUESTION # 44
Which two statements are true about the borrowed and lent cross charge method? (Choose two.)

A. This method allows you to process cross charge transactions across legal entities.
B. You must set up a contract business unit to use this method.
C. Internal Invoice is not generated with this method.
D. This method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations

Answer: A,C

Explanation:
The borrowed and lent cross charge method is a method that allows you to process cross charge transactions between provider and receiver organizations that belong to different legal entities within the same primary ledger. This method does not generate internal invoices or intercompany accounting entries for cross charge transactions. Instead, this method creates accounting entries that move an amount equal to the transfer price between the provider and receiver organizations using borrowed and lent accounts. Two statements that are true about this method are:
* Internal Invoice is not generated with this method. This method does not create internal invoices for cross charge transactions, as these transactions are accounted within the same primary ledger using borrowed and lent accounts.
* This method allows you to process cross charge transactions across legal entities. This method allows you to process cross charge transactions between provider and receiver organizations that belong to different legal entities within the same primary ledger, as long as they share the same chart of accounts, calendar, currency, and subledger accounting method.

NEW QUESTION # 45
While creating a new project template, you notice that a default Asset Cost Allocation method is being automatically associated. Identify the source setup from which the default value is being inherited. (Choose the best answer.)

A. project classification
B. project unit
C. project organization
D. project type

Answer: D

Explanation:
Ref:https://docs.oracle.com/en/cloud/saas/project-portfolio-management/19b/oapjf/define-project.
html#OAPJF220111
Asset Cost Allocation Methods
The asset cost allocation method determines how indirect or common costs incurred on a project are allocated to multiple assets.
You can specify an asset cost allocation method to enable Oracle Fusion Project Costing to automatically allocate unassigned asset lines and common costs across multiple assets. Unassigned asset lines typically occur when more than one asset is assigned to an asset grouping level.
Projects and project templates inherit a default asset cost allocation method from the associated project type.
You can override the default at the project level. If you use capital events to allocate costs, then you can also override the asset cost allocation method at the event level Asset Cost Allocation Methods The following table describes the available asset cost allocation methods.
Method
Basis of Cost Allocation
Actual Units
Number of units defined for each asset
Current Cost
Construction-in-process (CIP) cost of each asset
Estimated Cost
Estimated cost of each asset
Standard Unit Cost
Combination of the standard unit cost and the number of units defined for each asset Spread Evenly Equal allocation of cost to each asset

NEW QUESTION # 46
......

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FREE PDF QUIZ 2025 ORACLE 1Z0-1057-24: HIGH PASS-RATE ORACLE PROJECT MANAGEMENT CLOUD 2024 IMPLEMENTATION PROFESSIONAL ASSOCIATE LEVEL EXAM

Free PDF Quiz 2025 Oracle 1z0-1057-24: High Pass-Rate Oracle Project Management Cloud 2024 Implementation Professional Associate Level Exam