Oracle Risk Management Cloud 2021 Implementation Essentials Sample Questions:

1. The control manager needs to associate an existing test plan to an additional assessment type,Audit Test. The existing test plan is associated only with the Design Review assessment type.
How can this be accomplished?

A) The control manager does not need to update the control because any initiated assessment will include all control test plans.
B) The control's test plan should be updated to Audit Test as the assessment type.
C) The control's testplan should be updated to include both Audit Test and Design Review as assessment types.
D) The control manager should create a new test plan with Audit Test and Design Review as assessment types.

2. You completed the data migration successfully. You created 100 controls, an Organization Perspective, and relationship of controls to the Organization Perspective. All controls are related to one perspective item. The Control Manager logs in to the application to view the new controls, yet there are none available for his or her review.
Identify three reasons for this. (Choose three.)

A) The Perspective Hierarchy was not associated to the Control Object.
B) The Control Manager was not given the correct data security policy to access the controls.
C) The Perspective Hierarchy is not in the Approved state.
D) No risks were mappedto the imported controls.
E) There was no Control Type associated with the controls.

3. Your client has subscribed to Financial Reporting Compliance and would like to address risks using treatment plans.
Which option shows the settings that will help in achieving this configuration?

A) Configure Module Objects > Edit Control Object Configuration > Result = Show
B) Configure Module Objects > Edit Risk Object Configuration > Result = Show
C) Configure Module Objects > Edit Risk Object Configuration > Treatment = Show
D) Configure Module Objects > Edit Risk Object Configuration > Treatment = Hide and Default
E) Configure Module Perspectives > Edit Financial Reporting Compliance > Risk-Organization mapping set to required, active.

4. How do you associate a risk to a control?

A) In the related object section of process definition, add the control to the risk.
B) On the Related Objects tab of control definition, add the risk.
C) The only way to create risk-control associations is through data import.
D) On the Related Controls tab of risk definition, add the control.
E) To associate a controlto a risk, the control needs to be in the Review state.

5. The GRC Business owner responsible for reviewing and investigating access incidents related to the "Order to Cash" perspective does not see any worklists for the generated results. You have validated that:
1. Other business owners are able to view their assigned worklists without any problem
2. Incidents have been generated for the controls related to Order to Cash
3. The business owner's assigned roles contain the correct functional privileges and data access to the correct perspective values What is the reason the business owner cannot see any worklists for the generated incidents?

A) Worklist assignment does not include the business owner.
B) The underlying model is not linked to Order to Cash.
C) The business owner was recently assigned the role and the worklist needs to be refreshed.
D) The Result Management Perspective Assignment has not been linked.
E) The Control Perspectives are not linked to the control.

Solutions: