FCCS CERTIFICATION EXAM QUESTIONS AND
ANSWERS | FINANCIAL CONSOLIDATION AND
CLOSE CLOUD STUDY GUIDE
1.Company 123 is a public company that reports in US Dollars. Company 123
owns Company XYZ, a European company that consolidates in Euro. One of the
Company XYZ's subsidiaries is Company IOU, headquartered in Switzerland with
a functional currency of the Swiss Franc. Which process produces USD balances
for Company IOU?
A. A translation to the USD_Reporting currency member for Company IOU
B. A translation of Company IOU
C. A consolidation of Company 123
D. A consolidation of Company XYZ
E. A translation of Company XYZ to Parent Currency - CORRECT ANSWER
✔✔ - E. A translation of Company XYZ to Parent Currency
2.Which statement is correct regarding intercompany eliminations?
A. Intercompany eliminations are generally required to remove the effect of
transactions within the company
B. Intercompany eliminations are required for sustainability reporting to show the
company's waste output.
C. Intercompany eliminations are optional in FCCS and use one of the custom
dimensions when enabled.
D. Intercompany eliminations are needed when a company divests itself of a
division - CORRECT ANSWER ✔✔ - A. Intercompany eliminations are
generally required to remove the effect of transactions within the company
3.What member of the Currency dimension is associated with the Entity Input
member of the Consolidation dimension?
,A. Base Currency
B. Parent Currency
C. Local Currency
D. Entity Currency - CORRECT ANSWER ✔✔ - D. Entity Currency
4.Which statement is false regarding establishing security for Financial
Consolidation and Close (FCCS)?
A. All members are accessible for dimensions with no security applied.
B. The Identity Domain Administrator inherits full access privileges.
C. Security is mandatory for one dimension.
D. Security can be assigned at a parent level.
E. Security can be disabled for any dimension. - CORRECT ANSWER ✔✔ - A.
All members are accessible for dimensions with no security applied.
5.Which three fields must be defined when registering a file-based source system
in Data Management? (Choose three.)
A. Source Type
B. Drill URL
C. Cloud Type
D. Description
E. Name - CORRECT ANSWER ✔✔ - A. Source Type
B. Drill URL
E. Name
,6. When a Financial Consolidation and Close (FCCS) application was created, no
intercompany options were enabled. Which statement is true?
A. The FCCS_No Intercompany member of the ICP dimension will be used for all
data
B. Data can be stored by intercompany partner but no eliminations will occur.
C. An extra custom dimension will be available.
D. The ICP dimension will be omitted. - CORRECT ANSWER ✔✔ - D. The ICP
dimension will be omitted.
7. For which three tasks can Data Management be used? (Choose three.)
A. loading data that is period-to-date or year-to-date
B. drilling through from a web form or Smart View
C. loading data from a fixed width or delimited text file
D. writing back data to source systems
E. loading a Metadata Import File - CORRECT ANSWER ✔✔ - A. loading data
that is period-to-date or year-to-date
B. drilling through from a web form or Smart View
C. loading data from a fixed width or delimited text file
8. You are required to define a form that displays all form data for only specific
View dimension member and not allow users to change this. Where on the form do
you define the View dimension and select the correct member?
A. a column
B. Other Options section
C. the Page Axis
, D. the Point of View - CORRECT ANSWER ✔✔ - D. the Point of View
9. Which dimension includes the FCCS_Global Assumption member that is used
to store currency information?
A. Account
B. From Currency
C. Entity
D. Currency - CORRECT ANSWER ✔✔ - C. Entity
10. Which two statements are correct with regard to Data Management locations?
(Choose two.)
A. A company with three instances of Oracle EBS R12 should only use one
location to maintain proper accounting controls.
B. Location security allows users to be provisioned in Shared Services for read or
modify access to each location.
C. Locations can share dimension member mappings by specifying a location as a
parent location of others.
D. The logic account group is required in order to effect running of calculations
after the data load.
E. Locations must specify an import format, which may be used by other locations.
F. Data load rules can be shared across locations. - CORRECT ANSWER ✔✔ -
C. Locations can share dimension member mappings by specifying a location as a
parent location of others.
E. Locations must specify an import format, which may be used by other locations.
ANSWERS | FINANCIAL CONSOLIDATION AND
CLOSE CLOUD STUDY GUIDE
1.Company 123 is a public company that reports in US Dollars. Company 123
owns Company XYZ, a European company that consolidates in Euro. One of the
Company XYZ's subsidiaries is Company IOU, headquartered in Switzerland with
a functional currency of the Swiss Franc. Which process produces USD balances
for Company IOU?
A. A translation to the USD_Reporting currency member for Company IOU
B. A translation of Company IOU
C. A consolidation of Company 123
D. A consolidation of Company XYZ
E. A translation of Company XYZ to Parent Currency - CORRECT ANSWER
✔✔ - E. A translation of Company XYZ to Parent Currency
2.Which statement is correct regarding intercompany eliminations?
A. Intercompany eliminations are generally required to remove the effect of
transactions within the company
B. Intercompany eliminations are required for sustainability reporting to show the
company's waste output.
C. Intercompany eliminations are optional in FCCS and use one of the custom
dimensions when enabled.
D. Intercompany eliminations are needed when a company divests itself of a
division - CORRECT ANSWER ✔✔ - A. Intercompany eliminations are
generally required to remove the effect of transactions within the company
3.What member of the Currency dimension is associated with the Entity Input
member of the Consolidation dimension?
,A. Base Currency
B. Parent Currency
C. Local Currency
D. Entity Currency - CORRECT ANSWER ✔✔ - D. Entity Currency
4.Which statement is false regarding establishing security for Financial
Consolidation and Close (FCCS)?
A. All members are accessible for dimensions with no security applied.
B. The Identity Domain Administrator inherits full access privileges.
C. Security is mandatory for one dimension.
D. Security can be assigned at a parent level.
E. Security can be disabled for any dimension. - CORRECT ANSWER ✔✔ - A.
All members are accessible for dimensions with no security applied.
5.Which three fields must be defined when registering a file-based source system
in Data Management? (Choose three.)
A. Source Type
B. Drill URL
C. Cloud Type
D. Description
E. Name - CORRECT ANSWER ✔✔ - A. Source Type
B. Drill URL
E. Name
,6. When a Financial Consolidation and Close (FCCS) application was created, no
intercompany options were enabled. Which statement is true?
A. The FCCS_No Intercompany member of the ICP dimension will be used for all
data
B. Data can be stored by intercompany partner but no eliminations will occur.
C. An extra custom dimension will be available.
D. The ICP dimension will be omitted. - CORRECT ANSWER ✔✔ - D. The ICP
dimension will be omitted.
7. For which three tasks can Data Management be used? (Choose three.)
A. loading data that is period-to-date or year-to-date
B. drilling through from a web form or Smart View
C. loading data from a fixed width or delimited text file
D. writing back data to source systems
E. loading a Metadata Import File - CORRECT ANSWER ✔✔ - A. loading data
that is period-to-date or year-to-date
B. drilling through from a web form or Smart View
C. loading data from a fixed width or delimited text file
8. You are required to define a form that displays all form data for only specific
View dimension member and not allow users to change this. Where on the form do
you define the View dimension and select the correct member?
A. a column
B. Other Options section
C. the Page Axis
, D. the Point of View - CORRECT ANSWER ✔✔ - D. the Point of View
9. Which dimension includes the FCCS_Global Assumption member that is used
to store currency information?
A. Account
B. From Currency
C. Entity
D. Currency - CORRECT ANSWER ✔✔ - C. Entity
10. Which two statements are correct with regard to Data Management locations?
(Choose two.)
A. A company with three instances of Oracle EBS R12 should only use one
location to maintain proper accounting controls.
B. Location security allows users to be provisioned in Shared Services for read or
modify access to each location.
C. Locations can share dimension member mappings by specifying a location as a
parent location of others.
D. The logic account group is required in order to effect running of calculations
after the data load.
E. Locations must specify an import format, which may be used by other locations.
F. Data load rules can be shared across locations. - CORRECT ANSWER ✔✔ -
C. Locations can share dimension member mappings by specifying a location as a
parent location of others.
E. Locations must specify an import format, which may be used by other locations.
