Free Oracle 1Z0-1081-24 Practice Test & Real Exam Questions

Exam Code/Number: 1Z0-1081-24
Exam Name/Title: Oracle Financial Consolidation and Close 2024 Implementation Professional
Certification Provider: Oracle
Corresponding Certification: Oracle Cloud

Exam Questions: 173
Updated On: Jul 01, 2026

Question #1

Which components are prebuilt into Financial Consolidation and Close to provide a configurable and scalable consolidation solution?

A. Calculations, dashboards, and reports built on planning frameworks to provide cash flow planning

B. Pre-built integrations to combine narrative and data to produce both internal and external reporting packages

C. Calculations, dashboards, and reports as well as detailed data source tracking and an automated cash flow

D. Calculations, dashboards, and reports to provide analysis for cash flow modeling

Discussion 0

Correct Answer: C Vote an answer

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Question #2

Financial Consolidation and Close Cloud Service (FCCS) provides a consolidation path through which dimension combination?

A. Currency, Account, Movement

B. Entity, Currency, Account

C. Consolidation, Currency, Account

D. Entity, Consolidation, Currency

Discussion 0

Correct Answer: A Vote an answer

Question #3

In the
Movement dimension, for which two can you modify the default translation calculation?

A. Closing Balance

B. Base-level members under FCCS_Mvmts Subtotal

C. Opening Balance

D. Opening Balance Input

Discussion 0

Correct Answer: B,C Vote an answer

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Question #4

Company 123 is a public company that reports in US Dollars. Company 123 owns Company XYZ, a European company that consolidates in Euro. One of the Company XYZ's subsidiaries is Company IOU, headquartered in Switzerland with a functional currency of the Swiss Franc.
Which process produces USD balances for Company IOU?

A. A translation of Company IOU

B. A consolidation of Company 123

C. A translation of Company XYZ to Parent Currency

D. A consolidation of Company XYZ

E. A translation to the USD_Reporting currency member for Company IOU

Discussion 0

Correct Answer: C Vote an answer

Question #5

Which statement is FALSE when enabling a Multi-GAAP application?

A. The system automatically creates an FCCS_IFRS member.

B. Two custom dimensions are available after enabling Multi-GAAP.

C. The Multi-GAAP dimension is optional.

D. Additional GAAP adjustment can be created.

Discussion 0

Correct Answer: B Vote an answer

Question #6

Which statement correctly describes when a consolidation can occur within a given year/scenario?

A. The current period consolidation status is Impacted and the remaining periods are OK.

B. The user specifies the desired parent entity, Feb as the period, Actual as the scenario, and 2018 as the year.

C. A user has a power user access but only write access to the entity.

D. An administrator runs Force Consolidate to force the consolidation of all entities regardless of status or content.

E. A user with power user access first locks the entity so that other users cannot consolidate the same entity.

Discussion 0

Correct Answer: A Vote an answer

Question #7

Which two are members in the Consolidation dimension? (Choose two.)

A. FCCS Data Input

B. FCCS Total input And Adjusted

C. FCCS Entity Input

D. FCCS Proportion

Discussion 0

Correct Answer: C,D Vote an answer

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Question #8

Which two rate accounts are available in the seeded exchange rate forms? (Choose two.)

A. Opening Rate

B. Average Rate

C. Ending Rate

D. Local Rate

Discussion 0

Correct Answer: B,C Vote an answer

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Question #9

Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?

A. There is no reason to consolidate years sequentially.

B. Years should be consolidated sequentially to ensure that rollforward calculations are correct.

C. Each period in the year must consolidate separately.

D. Parent account calculations depend on the sequencing.

Discussion 0

Correct Answer: B Vote an answer

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