[Apr 28, 2022] 1Z0-1058-21 Exam Dumps - Try Best 1Z0-1058-21 Exam Questions - Real4Prep [Q24-Q42]

4/5 - (1 vote)

[Apr 28, 2022] 1Z0-1058-21 Exam Dumps – Try Best 1Z0-1058-21 Exam Questions – Real4Prep

Verified 1Z0-1058-21 exam dumps Q&As with Correct 77 Questions and Answers

NO.24 Your customer needs to conduct monthly Operational Effectiveness assessments for controls acrosstwo 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 BusinessProcess every week.
How should you design perspectives to achieve this?

Use the Region hierarchy for security and the Business Process hierarchy for reporting of controls.

Use the Region hierarchy initially, and later use both Region and BusinessProcess hierarchies for security.

Use both Region and Business Process hierarchies solely for reporting purposes.

Use the Business Process hierarchy for security and the Region hierarchy for reporting of controls.

NO.25 You areimplementing 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?

Access Point and Fusion Access Condition

Access Entitlement

Access Point and User Business Object

Access Point

Fusion Access Condition

NO.26 A user has created and submitted a new control and the state of the control is “In Review.” The user expected that the control state would change to “Approved.” Why is the control not in the “Approved” state?

This user is not a Control Approver; therefore, the status will be “In Review.”

The Control Reviewer role has been assigned to some users.

New controls must always be reviewed, irrespective of security configuration.

The Control Approver role has been assigned to someusers.

NO.27 The control manager needs to associate an existing test plan to an additional assessment type,Audit Test. The existing test plan is associated only with the Design Review assessment type.
How can this be accomplished?

The control manager should create a new test plan with Audit Test and Design Review as assessment types.

The control’s testplan should be updated to include both Audit Test and Design Review as assessment types.

The control manager does not need to update the control because any initiated assessment will include all control test plans.

The control’s test plan should be updated to Audit Test as the assessment type.

NO.28 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.

NO.29 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

NO.30 Which three statements are true about the purpose of perspectives? (Choose three.)

Perspectives can be used to define user privileges.

Perspectives can be used for categorizing Financial Reporting Compliance objects.

Perspectives can be used to represent regional hierarchies.

Perspectives are used to enable data security on Financial Reporting Compliance objects.

Perspectives enable functional security in Financial Reporting Compliance.

NO.31 Which three tasks should be completed before starting the Financial Reporting Compliance implementation?
(Choose three.)

Migrate the organization’s existing risk and control matrixinto Financial Reporting Compliance.

Complete control review and assessment for one period/cycle with the actual business owners.

Create a project plan with objectives, goals, and exit criteria.

Identify Financial Reporting Compliance users for everyday use, administration, and sustained use.

Plan to go-live with a simple scope and later expand the solution to include additional business units/organizations/compliance frameworks.

NO.32 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 theperson 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.

NO.33 Youhave created a risk definition R100 and have created a new control C100 for this risk. No user has been assigned the Risk or Control reviewer and approver roles. What will be the state of R100 and C100 after submitting?

Both R100 and C100 will be in the “In Review” state.

Both R100 and C100 will be in the “Awaiting Approval” state.

Both R100 and C100 will be in the “Approved” state.

Both R100 and C100 will be in the “New” state.

NO.34 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.

NO.35 When validating imported data, the control manager at your client has identified anincorrect Risk-Control mapping; that is, Control A was mapped incorrectly to Risk B instead of Risk A.
What needs to be done to fix the mapping?

Option A

Option B

Option C

Option D

NO.36 Yourclient has asked you to define a transaction model to identify duplicate invoices based on Invoice Numbers and Invoice Amounts.
Which two standard filters can be combined to accomplish this? (Choose two.)

The “Payables Invoice” object’s “Supplier ID”does not equal itself.

The “Payables Invoice” object’s “Invoice ID” is similar to the “Payables Invoice” object’s “Invoice Number”.

The “Payables Invoice” object’s “Invoice Amount” is equal to itself.

The “Payables Invoice” object’s “Invoice Number” is equal to the “Payables Invoice” object’s “Invoice ID.”

The “Payables Invoice” object’s “Invoice Number” is equal to itself.

NO.37 You are advising your client on design and configuration related to how access incident results will be viewed and managed. The client has provided a list of business requirements:
* Incident results can be viewed by Department
* Groups of investigators receive assigned incidents based on Department
* Must ensure systematically that no incident is unassigned to an investigator Which three must be configured to support these requirements? (Choose three.)

Worklist assignment Result Investigator should be set to specific users.

Custom perspective for Department linked to the Results object with Required set to “No”

Custom perspective for Department linked to the Results object with Required set to “Yes”

Investigators are assigned job roles with custom Department perspective data roles attached. Other incidentusers receive job roles which only allow viewing of incidents.

Investigators are assigned job roles with custom Department perspective data roles attached for managing incidents. Other incident users are assigned job roles with custom Department perspective data roles attached for viewing only.

Worklist assignment Result Investigator should be set to “All Eligible Users”

NO.38 Your client has subscribed to Financial Reporting Compliance and would like to address risks using treatment plans.
Which option shows the settings that will help in achieving this configuration?

Configure Module Perspectives > Edit Financial Reporting Compliance > Risk-Organization mapping set to required, active.

Configure Module Objects > Edit Risk Object Configuration > Treatment = Show

Configure Module Objects > Edit Risk Object Configuration > Treatment = Hide and Default

Configure Module Objects > Edit Control Object Configuration > Result = Show

Configure Module Objects > Edit Risk Object Configuration > Result = Show

NO.39 You can relate objects in Financial Reporting Compliance. Which statement is true about editing or creating related objects in the Related Objects section on the Risk Definition page?

You can relate only process objects.

You can relate a new process and a new control.

You can relate only control objects.

You can relate only an existing control, but not a new control.

NO.40 Which two filters must be combined to identify different suppliers who use the same taxpayer ID? (Choose two.)

Function filter grouping by “Supplier ID” where count is greater than 1.

Standard filter where the “Supplier” object’s “Supplier ID” is equal to itself.

Function filter grouping by “Taxpayer ID” where count is greater than 1.

Standard filter where the “Supplier” object’s “Allow Withholding Tax” is not blank.

Standard filter where the “Supplier” object’s “Taxpayer ID” is not blank.

NO.41 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, car rental, and mileage expenses?

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.

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.

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.

NO.42 Which two activities can be performed using Financial Reporting Compliance? (Choose two.)

Review andapprove the accuracy and completeness of control descriptions.

Gain real-time access to live financial data and proactively resolve issues.

Continuously monitor financial transactions and role-based remediation of transaction incidents.

Review control assessment results, along with any effectiveness issues found.

Provide self-service access to reporting and analysis against financial transactions.

Conduct intuitive audits of general ledger balances with journal details.