Who compiles the material matters. The Oracle Financials Cloud: Payables 2019 Implementation Essentials questions on PracticeVCE are prepared by IT professionals with years of familiarity with the exam and its testing environment.
Oracle 1Z1-1055 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Configure Payables and Payments | - Manage subledger accounting - Configure business units - Set up payment and invoice configurations |
| Topic 2: Payables Invoices | - Explain invoice imaging and recognition solutions - Create and account for invoices - Manage supplier information |
| Topic 3: Payments | - Create and process payments - Explain bank reconciliations - Configure payment options and formats |
| Topic 4: Expenses | - Manage expense reports and approvals - Audit expenses - Handle corporate card programs |
| Topic 5: Reporting and Period Close | - Use Business Intelligence Publisher reports - Use the Payables to Ledger reconciliation report - Explain Oracle Transactional Business Intelligence (OTBI) |
Before You Start: Oracle Financials Cloud: Payables 2019 Implementation Essentials Answers
1Z1-1055 is passed with Oracle does not publish an exact fixed pass score (typically around 60-65%+ for Oracle Cloud exams based on community reports), and the official exam fee is Approximately USD 245 (exam fee charged by Oracle via Pearson VUE; may vary by location/currency) . Fixing these numbers early helps you set a measurable practice target.
The 1Z1-1055 exam contains Approx. 54–60 (based on Oracle Cloud practices) questions to complete in 90 minutes minutes. Rehearsing under the same limit on the PracticeVCE engine turns pacing into a trained habit.
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The package includes 113 practice questions for the 1Z1-1055 exam. The count is set through analysis of a large volume of data, so the set matches the scope of the real test without padding.
- Payments ()
- Configure Payables and Payments ()
- Reporting and Period Close ()
Divide your time according to each topic's weight.
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No formal prerequisites; practical experience with Oracle Financials Cloud recommended
Oracle Financials Cloud: Payables 2019 Implementation Essentials Sample Questions:
What is the recommendation when setting up Reconciliation Rule Sets?
- A. One to One rules should be sequenced above rules of other types.
- B. Many to Many rules should always be used first in the sequence.
- C. One to One rules should be sequenced below rules of other types.
- D. Many to Many rules should always be used last in the sequence.
Correct Answer: A 🗳️
A company has a requirement to default the disbursement bank account when submitting a Payment Process Request.
Which actions will accomplish this? (Choose two.)
- A. Create a Payment Process Request template that includes the Disbursement Bank Account.
- B. Assign the Disbursement Bank Account to users to have the payment process default the bank account.
- C. Define the Disbursement Bank Account to the Payment Method in payment default rules.
- D. Define the Disbursement Bank Account to every supplier.
- E. Define the Disbursement Bank Account at the business unit level to have the payment process derive the bank account.
Correct Answer: A,B 🗳️
Explanation: Only visible for PracticeVCE members. You can sign-up / login (it's free).
An installment for $2,000 USD is due for payment on July 31, 2018. The installment has two discounts: the first discount date is June 15, 2018 for $150 USD and the second discount date is June 30, 2018 for $50 USD.
You submit a Payment Process Request with the following criteria:
Payment Date = June 20, 2018
Pay Through Date = July 30, 2018
Date Basis = Due Date
What will be the resulting status of the installment and discount?
- A. The installment is selected and no discount is applied.
- B. The installment is not selected because the discount dates are before the Pay Through Date.
- C. The installment is selected and a discount of $50 USD is applied.
- D. The installment is selected and a discount of $150 USD is applied.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011879.htm#FAPPP1011879 - E. The installment is not selected because the due date is after the Pay Through Date.
Correct Answer: E 🗳️
Identify three statements that indicate the purpose of Functional Setup Manager.
- A. It allows you to centrally manage the close processes across subledgers and ledgers.
- B. It automatically marks the completion status of tasks as Completed once they have been completed.
- C. It provides a central place to access and perform all of the setup steps across the applications.
- D. it allows you to assign setup tasks to individuals with due dates where users must manually update their completion status.
- E. It automatically generates lists of setup tasks in the correct sequence with dependencies highlighted.
Correct Answer: B,C,E 🗳️
Explanation: Only visible for PracticeVCE members. You can sign-up / login (it's free).
Your client company wants to ensure that the payments they are sending to their financial institution are valid and formatted correctly. They would like to identify any validation failures as early in the process as possible.
Where would you suggest the validations are set?
- A. Disbursement Bank Account
- B. Payment Method
- C. Supplier Site
- D. Payment Format
- E. Payment Terms
Correct Answer: B 🗳️
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