Free 1Z0-1058-26 Practice Test Questions and Answers (2026)

To efficiently expand an existing perspective hierarchy using data migration, a logical workflow involves first understanding the current structure, then navigating to the tool, and finally generating a template. The user would first navigate to "Manage Module Perspectives" to visually review the existing hierarchy and identify the parent nodes for the new items (C). Next, the user navigates to the Data Migration utility via Risk Management Tools > Setup and Administration > Data Migration (A). From there, they would generate a template "Without Data" (B), which exports the existing perspective structure, providing a perfect starting point to add the 150 new items under the correct parents before re-importing.

D. While "Perspectives Only" is a more specific option, "Without Data" is a valid, broader option that also accomplishes the goal of exporting the existing structure as a template.

E. "Create Import Template" generates a completely blank template. This is less efficient for expanding an existing hierarchy, as it would require manually re-entering parent node information.

Oracle Fusion Applications Help, "Implementing Risk Management and Compliance", Chapter: Data Migration, Section: Exporting Objects. This section describes the navigation path (A) and the process for generating templates from existing data structures (B).

Oracle Fusion Applications Help, "Implementing Risk Management and Compliance", Chapter: Set Up Financial Reporting Compliance, Section: Manage Module Perspectives. This section describes the UI for viewing and manually editing perspective hierarchies (C), which is a logical precursor to a bulk update.

To enable a control for a specific assessment type, such as an "Audit Test," flags within the control's definition must be set. The import template for controls includes specific columns for this purpose. The AUDITTESTINGPLANNEDFLAG must be set to 'Y' to make the control eligible for an Audit Test assessment. Additionally, the general ASSESSMENTPLANNEDFLAG must also be set to 'Y' to include the control in any assessment planning process. Therefore, verifying that both flags are set to 'Y' confirms the requirement.

B. While a control must be related to a process to function, this relationship does not enable a specific assessment type.

C. The status field (e.g., Active, Inactive) tracks the control's lifecycle, not its eligibility for different assessment types.

D. Using a comment field for this purpose is not a standard or reliable system configuration method; dedicated flags control this functionality.

1. Oracle Fusion Cloud Financials, Implementing Risk Management and Compliance, 24B, Chapter 8: Import and Export Data, Section: "Control Import". The File-Based Data Import (FBDI) template ControlImportTemplate.xlsm documentation details the ASSESSMENTPLANNEDFLAG and AUDITTESTINGPLANNEDFLAG columns, which must be set to 'Y' to plan these activities.

2. Oracle Fusion Cloud Financials, Using Financial Reporting Compliance, 24B, Chapter 5: Work with Assessments, Section: "Create an Assessment". The documentation notes that controls available for assessment are those "planned for assessment," which is determined by the flags.

When creating an issue within Oracle Risk Management Cloud's "Manage Issues" page, the system allows you to establish a direct relationship with the primary objects of the GRC framework. This linkage is crucial for context and remediation tracking. The objects that can be directly related to an issue are the core auditable entities: Processes, Risks, and Controls. This ensures that each documented issue is tied to a specific operational area, a potential risk event, or a failed control that requires attention.

A. Test Plans are the procedures for an assessment; an issue relates to the outcome (e.g., a failed control), not the procedure document itself.

B. An assessment is a process that may identify an issue, but the issue is fundamentally related to the underlying control, risk, or process being assessed.

D. Perspectives are used for organizing and reporting on GRC data; they are not operational objects to which issues are directly linked.

1. Oracle Fusion Cloud Financials, Using Risk Management, Release 24B, Chapter 7: Remediate Issues, Section: "Create an Issue," Paragraph 4. The documentation specifies the fields for creating an issue, stating, "In a Related Objects region, you can select controls, processes, or risks to associate with the issue."

2. Oracle Fusion Cloud Financials, Implementing Risk Management, Release 24B, Chapter 6: Manage Issues, Section: "Overview of Issue Management." This section describes the lifecycle of an issue and its relationship to core GRC objects, confirming that issues are tied to risks, controls, and processes to manage remediation.

In Oracle Fusion Cloud Applications, fields with predefined lists of values, such as 'Control Method', are managed using Lookups. To add a new custom value, an administrator must navigate to the "Manage Standard Lookups" task in the Setup and Maintenance work area. They would then query the appropriate Lookup Type (e.g., ORAGRCCONTROLMETHOD) and add a new entry. This new entry requires a unique Lookup Code, which serves as the internal system identifier for the new value, and a corresponding Lookup Meaning, which is the text displayed to the user. The system uses the Lookup Code to populate the field with the new option.

A. Enter the new value directly in the Control method field.

This is incorrect because the 'Control Method' field is a controlled list of values (LOV) to ensure data integrity; it does not permit direct, ad-hoc text entry.

B. Use Lookup Meaning of the new lookup value.

This is incorrect because the Lookup Meaning is the user-facing display text. The system uses the unique, non-translatable Lookup Code as the internal identifier.

D. Use Lookup Type of the new lookup value.

This is incorrect because the Lookup Type is the identifier for the entire list of values (e.g., the category), not for a single, specific value within that list.

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1. Oracle Fusion Cloud Risk Management, Implementing Risk Management and Compliance Guide (Release 24B)

Section: Set Up Risk Management > Lookups

Content: This section details the standard lookups used in Risk Management. It explains that to add or modify values in dropdown lists, you must edit the corresponding lookup type. For example, for the ORAGRCCONTROLMETHOD lookup type, you add a new row and define the Lookup Code, Meaning, and other attributes. The Lookup Code is the unique value stored in the database.

2. Oracle Fusion Cloud Applications, Configuring and Extending Applications Guide (Release 24B)

Section: Use Basic Configuration Tools > Manage Standard Lookups > Standard Lookups: Explained

Content: This document provides the general framework for managing lookups. It states, "A lookup code is an internal name for a lookup value... A lookup meaning is the value that the user sees." This confirms that the Lookup Code is the essential component for creating a new custom value that the system can use.

3. Oracle University, Oracle Fusion Cloud Financials: Implementation Workshop

Module: Application Configuration and Extension

Content: University courseware on implementing Oracle Cloud applications consistently teaches that extending application functionality, such as adding new values to dropdowns, is done through the "Manage Standard Lookups" task. The curriculum emphasizes the distinction between the Lookup Type (the list), the Lookup Code (the internal value), and the Meaning (the displayed value).

The Configure Module Objects work area is purely a configuration tool. Here you can decide which optional elements (results, events, consequences, treatments) appear on an object page, determine which perspective hierarchies a business object is linked to, and—for the Assessments object—revise the default question text and guidance that appear in every assessment activity. Steps that relate to data import/export or to viewing run-time assessment responses are not available from this configuration page.

C. Import templates are generated in the Data Exchange > Import from File task, not in Configure Module Objects.

E. Viewing individual assessment responses is done in the Assessments work area, outside the configuration pages.

1. Oracle Fusion Cloud Risk Management Implementation Guide 24B, “Configure Module Objects,” p. 115–118 (F74734-01): shows Options tab (results, events, consequences, treatments).

2. Same guide, p. 119–120: “Assign Perspectives to Objects” section describes object-perspective association.

3. Oracle Fusion Cloud Risk Management Implementation Guide 24B, p. 123: “Edit Default Assessment Activity Text” subsection under the Assessments object.

4. Oracle Fusion Cloud Risk Management Data Exchange Guide 24B, “Import from File,” p. 17–19 (F80442-01): describes where import templates are produced, independent of Configure Module Objects.

5. Oracle Fusion Cloud Risk Management Using Risk Management 24B, “View Assessment Responses,” p. 235–238 (F75038-01): shows responses are reviewed from the Assessments work area, not from configuration.

Before importing, you must ensure that: (A) every item listed on the Perspective Item sheet is also referenced in the Perspective Hierarchy sheet, otherwise hierarchy creation fails; (C) any custom list-of-value used in the template (for example, a new Control Frequency code) already exists as a lookup value in the application; and (E) the System ID column is blank for new rows and populated only for updates, so the import engine can distinguish create from update operations.

B. The control-perspective mappings being imported don’t have to pre-exist in Manage Module Perspectives.

D. Worksheet IDs must be unique across the entire file, not merely within one sheet; duplicates are caught during upload itself.

3. Oracle Risk Management Cloud Using Risk Management 24A, “Preparing the Import Template”, pp. 100-104.

4. Oracle Risk Management Cloud Data Migration Guide 24A, “Validating Lookup Values and Perspective Hierarchies”, pp. 18-21.

In Oracle Risk Management Cloud, the approval workflow is managed by Business Process Management (BPM). If an approval workflow is enabled for an object like a risk or control, but no users are assigned to the required approver roles, the system does not get stuck. Instead, the workflow engine finds no participants for the approval task and automatically completes that step. Since there are no subsequent steps defined, the object's status is set to "Approved" immediately after submission.

A. "In Review" is a state that requires an assigned reviewer. Since none exist, this state is skipped.

B. The object cannot be "Awaiting Approval" because the system cannot assign the approval task to anyone. The workflow moves past this step.

D. "New" is the state of the object before it is submitted for the first time.

1. Oracle Fusion Cloud Risk Management and Compliance, Implementing Risk Management, Release 24B, Chapter 2: Set Up Risk Management, Section: "Define Approval Options". The guide explains that if approval is active but no approvers are defined in the workflow, the submission is automatically approved.

Access to objects in Oracle Risk Management Cloud, such as risks and controls, is governed by role-based security. If a user can see a risk but not its mapped control, it indicates their assigned role (in this case, Risk Owner) has the necessary privileges to view risk objects but lacks the privileges to view control objects. The mapping itself is a relationship, but visibility of each object in the relationship is controlled independently by the user's security profile.

A. Synchronization jobs populate data and relationships, but they do not grant user access privileges. The user can see the risk, so the core data is present.

B. An inactive account would prevent the user from logging in and accessing any objects, including the risk.

D. If the risk object were inactive, the user likely wouldn't be able to access it either. The problem is specific to the control object's visibility.

1. Oracle Fusion Cloud Financials, Implementing Risk Management and Financial Compliance (Release 24B), Chapter 5: Security, Section: "Privileges." This section details how privileges grant access to specific functions and data objects within the application.

2. Oracle Fusion Middleware, Securing Applications with Oracle Platform Security Services, 12c (12.2.1.4.0), Chapter 2: Understanding Oracle Platform Security Services, Section: "Overview of the OPSS Security Model." This document explains that access is determined by security policies that grant permissions to roles.

In Oracle Fusion Cloud Applications, when a user is created or roles are assigned, this information is stored in the identity management system (LDAP). For these changes to take effect within a specific application like Financial Reporting Compliance, a series of synchronization jobs must be run. These jobs, such as "Retrieve Latest LDAP Changes" and "Import User and Role Application Security Data," pull the user and role data into the application's tables. If these jobs have not run, the user can authenticate and log in, but the application will not recognize their specific permissions, preventing them from performing tasks like creating data security policies.

A. The user can log in, which would be impossible if the account were inactive.

B. The issue is about the inability to create security policies, not a conflict between creating users and assigning roles, which are typically separate functions anyway.

D. User role activation is not typically subject to a supervisor approval workflow within the Financial Reporting Compliance module itself; it's a function of security administration.

Oracle Fusion Applications Help, "Risk Management and Compliance", Chapter: Set Up Financial Reporting Compliance, Section: Create Application Users. The documentation outlines the need to run synchronization processes after creating users and assigning roles.

Oracle Fusion Applications Security Guide, Chapter: Provision Roles to Users. This guide details the process of role provisioning and the necessity of running synchronization jobs for the grants to become effective in applications. (Doc ID for similar guides often found on support.oracle.com)

To close an issue in Oracle Risk Management Cloud, the issue's status must be 'Open'. The correct procedure involves navigating to the specific issue and opening it in edit mode. From the 'Edit Issue' page, the 'Close Issue' command is available within the 'Actions' menu. This process allows an Issue Manager to close an issue that has been reviewed and deemed invalid, directly addressing the scenario described. The action is not dependent on the completion of an associated assessment or a remediation plan.

A. The 'Close' functionality is not typically a direct button on the 'Manage Issues' summary page; it is located within the 'Actions' menu on the 'Edit Issue' page.

B. There is no prerequisite that the associated assessment must be completed. An invalid issue can and should be closed independently to maintain process efficiency.

C. A remediation plan is for valid issues requiring corrective action. An issue identified as invalid would not proceed to the remediation planning stage.

1. Oracle Fusion Cloud Financials: Using Risk Management, Release 24B, Chapter 6: Work with Issues, Section: Close an Issue.

Quote: "You can close an issue at any time, as long as its status is Open. To do so, open the issue for editing, then select Actions > Close Issue." This directly confirms that the action is taken from the edit page via the Actions menu and that the only prerequisite is an 'Open' status.

2. Oracle Fusion Cloud Financials: Implementing Risk Management and Compliance, Release 24B, Chapter 6: Issues and Remediation, Section: Work with Issues.

Paraphrased Content: The documentation outlines the issue lifecycle, where an issue is created and then managed. The steps for closure are initiated by editing the issue object, not by completing other related objects like assessments or remediation plans, which supports the invalidity of options B and C.