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Oracle 1z1-495 Actual Tests : Oracle Fusion HCM: Compensation 2014 Essentials
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Oracle 1z1-495 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Plan Configuration | - Budgeting and Worksheets - Eligibility and Profiles |
| Topic 2: Compensation Basics | - Compensation Plan Concepts - Salary and Compensation Components |
| Topic 3: Total Compensation Statements | - Statement Definitions |
Oracle Fusion HCM: Compensation 2014 Essentials Sample Questions:
A corporation has implemented Oracle Fusion Compensation Management and set up an individual compensation plan with the following details.
-Name: Variable component -Restrict plan access: Yes -Action: Manage Contributions -Access Level: New -Allocations: Always Allow -Update Allocations: Never Allow -Discontinue Allocations: "Allowed during a specific period" with the period start and end dates
configured.
Identify the correct option for the actions possible.
- A. The plan setup is always for HR to take actions and, therefore, only HR will be able to start the contribution anytime, update never, but discontinue during the period defined for any specific employee.
- B. All Employees will be able start the contribution anytime, update never, but discontinue during the period defined.
- C. The contribution will be automatically added to all the employees in the payroll and HR can discontinue allocations on a request basis.
- D. Only managers will be able start the contribution anytime, update never, but discontinue during the period defined for any specific employee by using the manager dashboard.
Correct Answer: B 🗳️
The manager administering compensation has the option to create budget models to be used to allocate compensation.
Which four options regarding compensation modeling are correct?
- A. Modeling enables managers to automatically allocate compensation to employees who meet certain criteria.
- B. Access of a model is limited only to the creator of the model.
- C. Managers cannot share a model created by them.
- D. Managers can use a model created by compensation professionals.
- E. Managers can create their own models and use them.
- F. A model can be shared with the direct reports of the creator.
Correct Answer: A,C,D,F 🗳️
A Corporation has implemented Oracle Fusion Compensation for a manufacturing client.
Which is the building block used in the calculation of deductions and exemptions?
- A. Deduction ranges
- B. Deduction range groups
- C. Deduction range Values
- D. Deduction overrides
Correct Answer: B 🗳️
Your client's compensation plan for employees includes a component that is based on years of service in the organization. If a person completes 10 years in the company, he or she will be eligible for a seniority component and the associated fixed salary amount. What type of eligibility profile you would need to create in order to track work experience of people?
- A. Employment-based-eligibility-criteria using length of service
- B. User-defined-criteria-based eligibility profile using hire date
- C. Derived-factor-based eligibility criteria using length of service
- D. Employment-based eligibility criteria using hire date
Correct Answer: B 🗳️
When upper-level managers change the plan access of one or more lower-/eve/ managers, they receive a notification informing them about the change in access. Which option do the/ receive to act on the notification?
- A. Dismiss
- B. Reject
- C. Accept
- D. Reply
Correct Answer: D 🗳️
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