Oracle 1z1-495 : Oracle Fusion HCM: Compensation 2014 Essentials

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Oracle 1z1-495 Exam Syllabus Topics:

Oracle Fusion HCM: Compensation 2014 Essentials Sample Questions:

1. You want to use the Workforce Compensation Budget pool for a workforce compensation plan.
Select the task to be performed, in the correct sequence.
a)Configure the workforce compensation budget pool
b)Configure the workforce compensation plan details
c)Run the Start Compensation plan
d)Create at least one worksheet compensation component and associate the budget pool with it.

A) Create the workforce compensation plan, Configure the workforce compensation plan details. Configure the workforce compensation budget pool, Create at (east one worksheet compensation component and associate the budget pool with it, Run the Start Compensation Cycle process.
B) Configure the workforce compensation budget pool, Configure the workforce compensation plan details, Run the Start Compensation Cycle process, Create the workforce compensation plan, Create at least one worksheet compensation component and associate the budget pool with it.
C) Create the workforce compensation plan. Configure the workforce compensation budget pool,Create at least one worksheet compensation component and associate the budget pool with it, Configure the workforce compensation plan details. Run the Start Compensation Cycle process.
D) Run the Start Compensation Cycle process, Create the workforce compensation plan, Configure the workforce compensation budget pool. Create at least one worksheet compensation component and associate the budget pool with it, Configure the workforce compensation plan details
E) Create the workforce compensation plan. Configure the workforce compensation budget pool,Configure the workforce compensation plan details, Create at least one worksheet compensation component and associate the budget pool with it, Run the Start Compensation Cycle process.

2. A corporation implemented oracle Fusion Compensation. The Fusion Consultant followed the approach of Fusion Fast Formula instead of using Dynamic calculation in the Compensation Plan.
Which three statements are true about Fusion Fast Formula?

A) "Working Storage Area" is not one of the components of Fusion Fast Formula.
B) Use Fast Formulas instead of existing application code to obtain non-standard results.
C) Fast Formulas support the business need when existing rules and parameters are adequate.
D) Compensation start date and Compensation end date are individual Compensation Plan Formula types.
E) Compensation default and override formula types default the value of a column of Workforce Compensation Plan.

3. 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 contribution will be automatically added to all the employees in the payroll and HR can discontinue allocations on a request basis.
B) 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.
C) All Employees will be able start the contribution anytime, update never, but discontinue during the period defined.
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.

4. While administering compensation for the workforce, Manager X accidentally approves a lower manager's. Which three statements will be true in this case?

A) The lower-level manager's access level is changed to "Approved."
B) The lower-level manager can withdraw the submission and reprocess the compensation allocation.
C) The worksheet goes to next level for approval.
D) The lower-level manager can still make changes in the worksheet and resubmit it for approval.

5. Which two methods can be used by the Compensation Administrator to publish budgets?

A) Use a model to distribute budgets.
B) Publish budgets manually.
C) Copy budget amounts from a previous cycle.
D) Publish budgets automatically by running the Build Model process.

Solutions: