Oracle Risk Management Cloud 2023 Implementation Professional - 1z0-1058-23 Free Exam Questions [2026]

QUESTION NO: 1
During an assessment, an issue was created. Your job as the Issue Manager is to review the issues and validate them. If it is determined that they are not valid issues, you need to close them. You have found an issue that is not valid and with Status: Open and State: Reported.
Identify the correct step to close this issue.

A. The assessment associated to the issue must be completed before closing the issue. Only then can you close the issue.

B. After you have completed the remediation plan, click the Close button on the Remediation Plan page.

C. Ensure that the issue status is In Edit, and then from the Actions menu, select Close Issue.

D. On the Manage Issues page, highlight the issue and click the Close button.

Discussion 0

Correct Answer: C Vote an answer

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QUESTION NO: 2
What would happen to an access incident in Advanced Access Controls (AAC) that has been remediated and has a status of "Closed," but poses a conflict again during a subsequent evaluation of controls?

A. The incident is deferred.

B. The incident is copied and a new incident is created based on the original incident.

C. The incident remains in "Closed" status and additional remedial action cannot be taken.

D. The incident status changes to "Assigned."

E. The incident remains in "Closed" status and assigned users receive a notification that additional access incidents have been identified.

Discussion 0

Correct Answer: B Vote an answer

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QUESTION NO: 3
You are helping your client identify and define their controls. You have determined that your client requires two perspectives: Business Units and Regulatory Standards.
The controls are going to be secured by the business unit, and you want to ensure that when the client defines new controls, it is mandatory to assign a Business Units perspective to the control. You are going to set the
"Required" field to "yes" for the Control-Business Units association.
Where do you do this in the product?

A. The Manage Object Perspectives screen

B. The Create Control screen

C. The Manage Module Perspectives screen

D. The Import template

E. The Create Perspectives screen

Discussion 0

Correct Answer: A Vote an answer

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QUESTION NO: 4
After adding a new control in Financial Reporting Compliance, the control owner clicks Submit. Users with the Control Reviewer and Control Approver roles exist.
What is the expected outcome?

A. The control goes into the "In Review" state.

B. The control goes into the "Approved" state.

C. The control goes into the "Waiting for Approval" state.

D. The control goes into the "New" state.

Discussion 0

Correct Answer: C Vote an answer

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QUESTION NO: 5
Which two would need to happen in order for Advanced Access Controls (AAC) to automatically assign a status of "Closed" to an access incident? (Choose two.)

A. The incident is resolved using simulation in AAC and a subsequent evaluation of controls finds that the incident no longer exists.

B. The incident is resolved in Fusion Cloud and a subsequent evaluation of controls finds that the incident no longer exists.

C. A user sets the State of the incident to "Remediate".

D. A global condition was added that resolves the conflict and a subsequent evaluation of controls finds that the incident no longer exists.

E. A user sets the Status of the incident to "Resolved".

Discussion 0

Correct Answer: A,B Vote an answer

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QUESTION NO: 6
During implementation, you created a Financial Reporting Compliance superuser and assigned this user the following roles:
* Enterprise Risk and Control Manager
* IT Security Manager
* Employee
The superuser logs in to Financial Reporting Compliance but is not able to create new Data Security Policies.
What is wrong?

A. The application will not allow a user to both create users and assign them roles.

B. The superuser's account is not yet approved by his or her supervisor in Financial Reporting Compliance.

C. The superuser's account is inactive and his or her account needs to be activated.

D. The superuser's account is created but the synchronization jobs have not been run.

Discussion 0

Correct Answer: D Vote an answer

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QUESTION NO: 7
You are implementing Advanced Access Controls and there is a requirement for a control to monitor user access to specific, client-defined access points which give users the ability to both initiate a purchase order and approve payments on that purchase order.
Which is a valid option to implement the control?

A. Select Actions > Create Access Control from the "Controls" tab of Advanced Controls.

B. Create an access entitlement from the "Access Entitlements" page, then select Actions > Create Access Control from the "Controls" tab of Advanced Controls, and select the entitlement you created.

C. Create an access model from the "Models" tab of Advanced Controls, and then define an access point filter for each individual client-defined access point.

D. From the "Access Entitlements" page create two entitlements containing the respective client-defined access points. Create an access model from the "Models" tab of Advanced Controls, based on the entitlements you created. Finally, deploy an access control in the "Controls" tab of Advanced Controls, and select the access model you created.

E. From the "Access Entitlements" page create two entitlements containing the respective client-defined access points. Create an access model from the "Models" tab of Advanced Controls, based on the entitlements you created.

Discussion 0

Correct Answer: D Vote an answer

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QUESTION NO: 8
You are implementing Advanced Financial Controls and you want to identify suspect transactions where the payment amount is less than $20 USD. However, you only want the results returned to be temporary.
What will you build in order to accomplish your objective?

A. Model

B. Template

C. Business object

D. Filter

E. Control

Discussion 0

Correct Answer: A Vote an answer

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