(2025) PASS 1Z0-1057-23 Exam Free Practice Test with 100% Accurate Answers [Q48-Q66]

Q48. Identify the valid approval group type applicable to Oracle Project Financial Management Cloud.
(Choose the best answer.)
Response:

Q49. Your organization has created an Enterprise Project Structure (EPS) and your executives review the overall project labor demand by using the EPS. Identify two correct statements about the periodic project labor demand.

Q50. You have been hired as a project manager for implementing the Project Financial Management and Project Execution Management offering by an organization. The Chief Information Officer of the deploying organization has requested you to explain the benefits of using the implementation project-based approach over the functional area-based approach.
Which two are the main benefits of using the implementation projects within Functional Setup Manager?

Q51. You are trying to create a custom infolet but are not able to find the “Create Infolet” option in the Infolet repository window. Which two steps should be completed before you can access the “Create Infolet” option?

Q52. Your customer has a requirement to import and process third-party transactions that are “costed” and “accounted”.
Which configuration option needs to be set satisfy the requirement? (Choose the best answer.)

Q53. You are currently involved in the implementation of the Project Financial Management solution for your client organization. Your client organization has two main lines of business: Consulting and Support. Consulting Services and Support Services organizations have different project planning, management, analysis and reporting requirements for the projects that they manage, though the management reporting and transaction processing requirements are the same for both the organizations.
What will be your recommendation?

Q54. Your client uses Resource Breakdown Structures (RBS) and Resource Mapping to associate amounts to resources. After making some changes to the resources at project level, forecasts are regenerated. After reviewing the cost amounts associated with the resources, you suspect that the cost association does not match your client”s expectations. Identify two valid rules based on which cost association works.

Q55. Identify three correct statements about project types.
(Choose three.)
Response:

Q56. You are managing a project based on a Waterfall model. You define a project and a project plan in Oracle Project Management with tasks and subtasks applicable to each of the phases of the project: Initiation, Discovery, Design, Build, Test, and Deploy. As a project manager, you want to define deliverables for your project requirements that are elucidated during the Discovery phase of your project. You now want to understand how the inheritance between requirements, tasks, and deliverables works.
Which two are correct statements in this scenario?

Q57. As you go through the first-quarter close for your customer, you notice that the burden amounts calculated do not seem to be right. Based on the calculations, you notice that the amounts calculated are not considering the burden schedule override at a task level, which was done during the second month of the quarter.
What is the reason for this problem?

Q58. A consulting services company is currently working on a business transformation project for your client that spans over 10 months. The total contract amount is 250000 USD. They have generated a revenue of 25000 USD and an Invoice of 10000 USD at the end of the first period.
The accounting entry for revenue is:
and accounting entry for invoice is:

What will be the accounting entry when you reclassify the billing offset balances in the first period?

Q59. Your customer started operations and all projects in January 2015. They implemented Enterprise Project Structure for calculating project labor demand by using the Annual option. When they view the labor demand on 15-Dec-2015, the project hierarchy viewer shows data only for the year 2015. The client expected the demand to be shown for a year, from 15-Dec-2015 to 15-Dec-2016.
Identify how the project hierarchy viewer displays labor demand information. (Choose the best answer.)

Q60. Which application would you use to map application roles to external roles? (Choose the best answer.)

Q61. You have projects and tasks defined with transaction controls, which does not allow certain types of charges to the project. Your business needs to create invoices in AP with this project every period and hence would like to make the process easier by creating a distribution set. As you create the distribution set, you notice that these distribution set lines are not validated against the project transaction controls and you are allowed to save it without any validation errors. Identify the reason why the project transaction controls are not applied. (Choose the best answer.)

Q62. Your organization has decided to enable the common accounting and project accounting periods option while defining business unit implementation options.
Where will you maintain the accounting period statuses if this option has been enabled?

Q63. Your customer wants to assign the Net 45 payment term to all sets except for the corporate business unit specific set, which is assigned the Net 15 payment term. At transaction entry, the list of values for payment terms consists of only one set of data: the set that is assigned to the transaction”s business unit.
Which reference data sharing method would you set up to meet the customer requirement? (Choose the best answer.)

Q64. You configure one OTBI using Project Cross Subject Area Analysis Real Time. You notice that all measures (Budget, Forecast, Cost, Commitments, Revenue, and Invoice) are not available for Bill-To-Customer and Contract and Contract Line dimensions. Identify the reason for this behavior. (Choose the best answer.)

Q65. Your customer complains that their project resources do not report their time promptly, which has resulted in incorrect reporting of project performance. What should you do to fix this problem? (Choose the best answer.)

Q66. What are three configuration items that you need to set up by using the Project Organizations functional area in Project Financial Management configurations? (Choose three.)