Exam (elaborations)
FCCS Practice Exam Questions and Answers
- Course
- Institution
FCCS Practice Exam Questions and Answers
[Show more]
Content preview
FCCS Practice Exam Questions andAnswers
1. In Financial Close Manager, when would you choose to define tasks in a Template
rather than create a new Schedule each month?
A. when the tasks are repeatable over multiple close cycles
B. when the tasks require consistent definition across close schedules
C. when the tasks are often late in completion and they need to be monitored more
closely
D. when the tasks require multiple levels of approvers - Answer-A. when the tasks are
repeatable over multiple close cycles
2. Which two data extract export file types are available within Financial Consolidation
and Close (FCCS)?
(Choose two.)
A. DAT file type
B. Excel XLS file type
C. Comma delimited
D. Tab delimited - Answer-C. Comma delimited
D. Tab delimited
3. When creating a member mapping for account Sales in Data Management, the
following script is entered.
UD5 refers to a Product custom dimension:
WHEN UD5 LIKE 'CAR_%' THEN 'AUTO_SALES'
ELSE 'SALES'
Which statement is True?
A. The script can be eliminated by using a multi-dim map on the Product dimension that
also looks for the account Sales.
B. The script will work if the script is referenced in the In mapping type with #SQL as the
target.
C. The script will not work since Data Management does not support scripting.
D. The script will not work since the UD5 member referenced does not start with FCCS_
E. The script will work if the script is referenced in the Explicit mapping type with #SQL
as the target. - Answer-A. The script can be eliminated by using a multi-dim map on the
Product dimension that also looks for the account Sales.
4. P, Q, and R, are children of a mid-level parent entity, AceCo. In February each entity
has cash in the amounts of 10, 20, and 30, respectively, and AceCo has been
,consolidated and has cash of 60. A prior period adjustment to Q adjusts cash with a
debit of 5.
Which statement regarding consolidation is correct?
A. There is no way to do a prior period entry like this.
B. January and February should be consolidated.
C. February should be consolidated, after which the cash at AceCo is now 65.
D. January should be consolidated for the change and nothing needs to happen for
February. - Answer-B. January and February should be consolidated.
5. Which statement correctly describes the Consolidation dimension?
A. The dimension contains members to store non-controlling interest and joint venture
data.
B. The dimension uses a separate member to store data from an entity's descendants.
C. The dimension allows users to see input versus journal adjustment data.
D. The dimension aggregates input, consolidated, and elimination data together. -
Answer-D. The dimension aggregates input, consolidated, and elimination data
together.
6. Which statement is true regarding Data Management categories?
A. Categories are defined on the Global Mapping tab and then the frequency is
specified on the Application Mapping tab
B. Categories must begin with FCCS_ to match their Financial Consolidation and Close
counterparts.
C. Application mapping is not required if the global mapping target category is exactly
correct.
D. The category's time frequency allows data to be loaded to daily, weekly, and monthly
scenarios. - Answer-C. Application mapping is not required if the global mapping target
category is exactly correct.
7. A client company has expanded quickly in the past year and has recognized the need
to move their financial team off spreadsheets and to a more verifiable and automated
solution.
Which two requirements from this team would Oracle's Financial Consolidation and
Close Cloud Service satisfy? (Choose two.)
A. robust consolidation engine that provides automated aggregations, intercompany
eliminations and translations without requiring a strong IT footprint
B. dashboard reporting with daily revenue comparisons and KPI's that measure cost
controls
C. leverage compliance efforts to fix process issues across all businesses and provide
oversight for risk awareness
D. a configurable reporting solution with prebuild dimensions, KPIs, reports along with a
process to adjust data, monitor the close status and view data and compliance results in
dashboards
, E. provide the ability to collaborate during close and analyse transac - Answer-A. robust
consolidation engine that provides automated aggregations, intercompany eliminations
and translations without requiring a strong IT footprint
D. a configurable reporting solution with prebuild dimensions, KPIs, reports along with a
process to adjust data, monitor the close status and view data and compliance results in
dashboards
8. How is drill-back enabled to Supplemental Data Manager (SDM) from the
Supplemental Data member within the Multi-source dimension?
A. Drill-back to SDM is not an available feature.
B. Drill-back is available from any Multi-source dimension member by default, know the
source of the origination data load.
C. By selecting Track Multi-source Data Input option for Supplemental Data during the
application creation process.
D. By selecting Track Multi-source Data Input option for Other Data during the
application creation process. - Answer-B. Drill-back is available from any Multi-source
dimension member by default, know the source of the origination data load.
9. When you set the Intercompany Account Attribute Value to Yes, which additional
attribute must also be set?
A. Plug Account
B. Intercompany Account
C. Is Plug Account
D. Intercompany Entity - Answer-A. Plug Account
10. A company has two subsidiaries with 1000 EURO each in the Cash account.
Which four Consolidation Members will reflect 2000 EURO at the company's balance?
(Choose four.)
A. FCCS_Elimination
B. FCCS_Proportion
C. FCCS_Entity Input
D. FCCS_Entity Consolidation
E. FCCS_Entity Total
F. FCCS_Contribution - Answer-B. FCCS_Proportion
D. FCCS_Entity Consolidation
E. FCCS_Entity Total
F. FCCS_Contribution
11. When a Financial Consolidation and Close (FCCS) application was created, no
intercompany options were enabled. Which statement is true?
A. The FCCS_No Intercompany member of the ICP dimension will be used for all data.
B. Data can be stored by intercompany partner but no eliminations will occur.
C. An extra custom dimension will be available.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Rusenna. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
85443 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now