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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. Which statement is FALSE about running consolidations?

A) When you consolidate an entity for a period, prior periods with the Impacted calculation status are also consolidated.
B) Running consolidation using the Force Consolidate option consolidates entities with any calculation status other than OK or NO DATA.
C) When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated.
D) When you consolidate a parent, children with the Impacted calculation status are also consolidated.

2. Which statement is FALSE regarding establishing security for Financial Consolidation and Close?

A) All members are accessible for dimensions with no security applied.
B) Security can be disabled for any dimension.
C) Security is mandatory for one dimension.
D) Security can be assigned at a parent level.
E) The Identity Domain Administrator inherits full access privileges.

3. What member of the Currency dimension should be used during data entry for historical override amounts?

A) Parent Currency
B) Input Currencies
C) Entity Currency
D) Reporting Currencies

4. 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) 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.
C) Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.
D) The changes in the relational database are synced to the underlying Essbase cube.

5. Financial Consolidation Close Cloud maintains the status calculation for which combination of dimensions?

A) Year, Scenario, Base Entity and Account
B) Scenario, Account, Base Entity and Parent Entity
C) Scenario, View, Parent Entity and Account
D) Period, Scenario, Base Entity and Parent Entity

Solutions: