Question 1

Your client, a banking organization, is currently using different transaction systems to take care of various types of loans, including vehicle loans, personal loans, education loans, and housing loans. You recently uploaded the source system data that includes Loan Origination, Loan Interest Accrual, Loan Scheduled Payment, Loan Interest Adjusted, Loan Late Payment, and Loan Charge Off as event types. Now the customer has asked you to add another transaction type called Loan Interest Accrual Reversal. What should be your response to the customer?

Options :

A : The source system should be registered again by including the Loan Interest Accrual Reversal event type.

B : A new transaction type cannot be added after the source system is registered.

C : Loan Interest Accrual Reversal can be added as a new event type from the user interface.

D : Loan Interest Accrual Reversal can be added as a new event type by using the update spreadsheet template.

Answer: C

Question 2

Which FOUR actions can you perform with the help of the Security Console?

Options :

A : Manage Automatic Data Provisioning

B : Manage Data Access for Users

C : Manage User Name Generation Rules and Password Policies

D : Manage Password of other Users

E : Create Roles

F : Compare Roles

Answer: C,D,E,F

Question 3

Which two conditions must be met for automatic data provisioning to work?

Options :

A : At least one of the user’s assignments matches all data-mapping conditions in a data provisioning rule.

B : At least one role is automatically provisioned to the user using role provisioning rules.

C : The data provisioning rule has at least one job, one position, and one inventory organization assigned to it.

Answer: A,B

Question 4

Your client has operations in both the US and the UK. They currently use a third-party billing system to process transactions, such as Complete an Invoice, Record a Payment, Record Late Charges, and Recognize Revenue. You are part of the implementation team for the Accounting Hub solution. Your client wants to retrieve chart of accounts values for the line of business segment based on customer classification. You decide to use the mapping sets functionality to fulfill this requirement. Which THREE statements are true about using mapping sets?

Options :

A : Mapping sets are unique to each sub-ledger application, in order to know which input sources to make available.

B : The mappings can be entered only by using the user interface

C : You can define a default output value to use when actual input values do not match the mappings

D : One mapping set can be used for only one account rule at a time

E : You can use up to 10 transaction or reference attributes as input in a mapping

Answer: A,C,E

Question 5

Which statement is true about journal entry rule sets?

Options :

A : Description rules can be assigned only at the header level of a journal entry rule set

B : Description rules must carry the same chart of accounts that is attached to the journal entry rule set

C : Description rules can be assigned at both the header and the line level of a journal entry rule set

Answer: C

Smartly Prepare Exam with Free Online 1Z0-1060-24 Practice Test

Buying Options: