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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. To which Financial Consolidation and Close dimension(s) do you map Data Management periods?

A) Period and Year
B) Period, Year, and View
C) Period
D) View

2. Which statement correctly describes what happens to parent entities during consolidation?

A) Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities
B) The changes in the relational database are synced to the underlying Essbase cube.
C) For each child entity, the period Opening Balance is subtracted from the period Closing Balance to determine the current period change value, and the values are aggregated to the FCCSJEntrty Consolidation member of the parent.
D) Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.

3. Which statement is true of reporting currencies?

A) During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.
B) All input currencies that you add are automatically added as reporting currencies as well.
C) All reporting currency members have the suffix Reporting.
D) When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.

4. Which two rate account options are available when configuring default translation methods for Flow and Balance accounts? (Choose two.)

A) FX Rates - None
B) FX Rates - Ending
C) FX Rates - Historical
D) FX Rates - Average
E) FX Rates - Opening

5. For which scenario would an On-Demand rule be an appropriate solution?

A) To import data into a form or Smart View worksheet
B) To allocate data to base entities prior to consolidation
C) To add a column with a calculation to a report
D) To perform a custom currency translation for a subset of accounts

Solutions: