FCCS FINAL EXAM UPDATED EXAM SCRIPT
WITH COMPLETE ANSWERS
◉ Which three key requirements does the Financial Consolidation
and Close Cloud Service (FCCS) deliver to ensure a modern
consolidation and close solution?
Answer: Ensure security of sensitive data.
Integrate with source systems.
Provide a strong compliance framework that includes auditing and
segregation of duties.
◉ A client company has expanded quickly in the past year and has
recognized the need to move their financial team off spreadsheets
and to a more verifiable and automated solution. Which two
requirements from this team would Oracle's Financial Consolidation
and Close Cloud Service satisfy?
Answer: robust consolidation engine that provides automated
aggregations, intercompany eliminations and translations without
requiring a strong IT footprint
a configurable reporting solution with prebuilt dimensions, KPIs,
reports along with a process to adjust data, monitor the close status
and view data and compliance results in dashboards
,◉ Which solution is delivered by the Financial Consolidation and
Close Cloud Service?
Answer: an automated and integrated solution to manage the
financial consolidation month-end close process
◉ Which financial close related component requires a separate
subscription and is not included in the Financial Consolidation and
Close Cloud suite subscription?
Answer: Account Reconciliation Management
◉ Which components are pre-built into Financial Consolidation and
Close Cloud Service to provide a configurable and scalable
consolidation solution?
Answer: calculations, dashboards and reports as well as detailed
data source tracking and an automated cash flow
◉ What is the recommended step a Financial Consolidation and
Close Cloud administrator should take to facilitate the backup
process?
Answer: Identify a one-hour window convenient to users, then use
the Tools, Daily Maintenance window to identify that time for Oracle
to run their backup process.
◉ On what days during the month does Oracle apply patch updates
to fix bugs, apply code optimizations, and add new features?
, Answer: the first and third Friday of each month; first Friday for
TEST and third Friday for PROD
◉ For which three tasks can Data Management be used?
Answer: loading data from a fixed width or delimited text file
drilling through from a web form or Smart View
loading data that is period-to-date or year-to-date
◉ Which task CANNOT be completed by using Data Management?
Answer: Load journal data to Financial Consolidation and Close
(FCCS)
◉ Which three fields must be defined when registering a file-based
source system in Data Management?
Answer: Name
Description
Drill URL
◉ For which three levels can Profiles be set in Data Management?
Answer: User
System
WITH COMPLETE ANSWERS
◉ Which three key requirements does the Financial Consolidation
and Close Cloud Service (FCCS) deliver to ensure a modern
consolidation and close solution?
Answer: Ensure security of sensitive data.
Integrate with source systems.
Provide a strong compliance framework that includes auditing and
segregation of duties.
◉ A client company has expanded quickly in the past year and has
recognized the need to move their financial team off spreadsheets
and to a more verifiable and automated solution. Which two
requirements from this team would Oracle's Financial Consolidation
and Close Cloud Service satisfy?
Answer: robust consolidation engine that provides automated
aggregations, intercompany eliminations and translations without
requiring a strong IT footprint
a configurable reporting solution with prebuilt dimensions, KPIs,
reports along with a process to adjust data, monitor the close status
and view data and compliance results in dashboards
,◉ Which solution is delivered by the Financial Consolidation and
Close Cloud Service?
Answer: an automated and integrated solution to manage the
financial consolidation month-end close process
◉ Which financial close related component requires a separate
subscription and is not included in the Financial Consolidation and
Close Cloud suite subscription?
Answer: Account Reconciliation Management
◉ Which components are pre-built into Financial Consolidation and
Close Cloud Service to provide a configurable and scalable
consolidation solution?
Answer: calculations, dashboards and reports as well as detailed
data source tracking and an automated cash flow
◉ What is the recommended step a Financial Consolidation and
Close Cloud administrator should take to facilitate the backup
process?
Answer: Identify a one-hour window convenient to users, then use
the Tools, Daily Maintenance window to identify that time for Oracle
to run their backup process.
◉ On what days during the month does Oracle apply patch updates
to fix bugs, apply code optimizations, and add new features?
, Answer: the first and third Friday of each month; first Friday for
TEST and third Friday for PROD
◉ For which three tasks can Data Management be used?
Answer: loading data from a fixed width or delimited text file
drilling through from a web form or Smart View
loading data that is period-to-date or year-to-date
◉ Which task CANNOT be completed by using Data Management?
Answer: Load journal data to Financial Consolidation and Close
(FCCS)
◉ Which three fields must be defined when registering a file-based
source system in Data Management?
Answer: Name
Description
Drill URL
◉ For which three levels can Profiles be set in Data Management?
Answer: User
System
