Oracle Risk Management Cloud 2024: 1Z0-1058-24 Study Guide for Professionals

In the modern digital-first world, risk and compliance are the main concerns of organizations. Cloud systems are becoming more complex, which increases the need for professionals who understand their own businesses and their clients' risk management complexities. One of the certifications that will meet this growing demand is that relating to Oracle Risk Management Cloud Implementation Professional.

Whether you're an IT consultant, or compliance officer, or even part of a finance profession, proficiency in the risk management framework of Oracle's cloud platform will accelerate an already promising career. This guide will take you through what you need to prepare for and pass the exam.

Oracle Risk Management Cloud 2024: 1Z0-1058-24 Study Guide for Professionals

What Is Oracle Risk Management Cloud Course About?

The Oracle Risk Management Cloud Implementation Professional exam verifies your abilities and knowledge in implementing and managing risk, controls, and compliance functionality on the Oracle Risk Management Cloud platform. This certification further proves that you have a grasp of the technical and functional aspects of the system and can provide contextual application of a risk management framework. 

The 1Z0-1058-24 version reflects the aligning the examination with the latest Oracle Cloud release and industry practices. These aspects include automation tools, security model, access certification, advanced controls, and audit features under the Oracle Cloud environment.

 

What Are the Benefits of Passing the 1Z0-1058-24 Exam:

Some of the benefits you would get from your Oracle certification will include:

  • Career Growth: Certified professionals get better job offers and promotions and can be considered for a leadership role.
  • Competitive Salary: An expert in Oracle Risk Management Cloud can expect an elevated pay status.
  • Industry Recognition: The Oracle Risk Management Cloud Implementation Professional exam has global recognition and can open the door internationally.
  • Skill Validation: Affirms your knowledge regarding deploying and managing a risk management framework within real-world cloud environments.
  • Credibility: It enhances your prestige as an independent, security-deserving professional.

 

1Z0-1058-24 Exam Format:

Here’s a quick look at the structure of the 1Z0-1058-24 exam:

Component

Details

Exam Code

1Z0-1058-24

Exam Name

Oracle Risk Management Cloud Implementation Professional

Number of Questions

50 questions

Format

Multiple choice

Duration

90 minutes

Passing Score

68%

 

Oracle Risk Management Cloud Implementation Professional Exam Syllabus: 

Domain

Topics

Managing Reports
  • Understanding the Transaction Business Intelligence in Reporting
  • Create dashboards and reports

Initiating Access Certification and Certifying User-Role
  • Describe Oracle Access Certification
  • Entitlement scoping filters and Access point creation
  • Initiate, secure, and scope Access Certification
  • Top-down and bottom-up scoping in Access Certification Differentiation
  • Analyze Predefined Access Certification Jobs
  • Evaluate certification status
  • Explain Access Certification elements
  • Review My Team worksheets, and the Overview pages used during the review of Access Certification
  • Original Certifier Worksheet and Enhanced Certifier Worksheet
  • illustration reassignment
  • Explain the certification workflow of Access Certification

Implementing and Managing Financial Reporting Compliance
  • Financial Reporting Compliance Abbreviation
  • How to configure an environment for Financial Reporting Compliance implementation
  • How to create and manage process objects for better performance
  • Creating controls to address business process risks
  • How to address risks using control documents measures
  • Create and manage assessments, treatments, events, and consequences
  • Analyze Financial Compliance Reporting

Using Stand-alone Surveys and Surveys Associated with Assessment
  • Describe stand-alone surveys and assessment surveys
  • Construct a survey choice set
  • Develop a survey choice set
  • Develop survey questions
  • Develop a survey template
  • Manage a participants list
  • Distribute surveys
  • Define and secure stand-alone surveys
  • View survey results
  • Close and reopen the survey

Using Advanced Access Controls
  • Explain the role of Advanced Access Controls
  • Access Models' objects and filters evaluation
  • Creating edit entitlements and access points
  • Deploy Advanced Access Controls to remediate incidents
  • Analyze issues and examine statuses
  • Analyzing states assigned by Advanced Access Controls
  • Running Access Visualizations and Simulations.

Implementing and Using Advanced Controls
  • Implementation of Advanced Controls
  • Understanding  Controls, Notifications, Perspectives, Results, State, Models and Status of Records in Advanced Controls
  • Export and import of models, controls, or conditions
  • Resolve duplicate name validation

Advanced Financial/Transaction Controls (Audit and Sensitive Data Access Audit)
  • Understanding advanced financial/transaction controls
  • Understanding the various approaches for financial/transaction model development
  • Create and edit financial/transaction models
  • Select business objects for the financial/transaction model
  • System-generated objects and business objects
  • Create standard, function, and pattern filters
  • Define transaction model results
  • Synchronize financial transaction data
  • Run Access Models and interpret results
  • Deploy controls
  • Run financial/transaction controls
  • View, edit, and delete financial/transaction controls
  • Analyze incidents and examine statuses and states
  • Audit the sensitive data access

Implementing, Configuring, and Maintaining Risk Management
  • Explain risk management offerings
  • Schedule, run, and monitor jobs
  • Implement the common elements of Risk Management
  • Configure the Financial Reporting Compliance Data Migration template
  • Management of Financial Reporting Compliance Assessment
  • Activity Definitions for process, control, and risk
  • Checking Advanced Controls and managing global users
  • Synchronize transaction data
  • Purge advanced control results
  • Audit analysis with Advanced Controls and Sensitive Data Access

Securing Risk Management
  • Describe Risk Management Security requirements
  • Understand the differences between being eligible and authorized
  • Evaluate Advanced Access Controls Security
  • Evaluate Advanced Financial/Transaction Controls Security
  • Assess Business Object Security
  • Evaluate Financial Reporting Compliance Security
  • Explain Advanced Access Request Security
  • Manage User Assignment Groups

 

Study Materials for 1Z0-1058-24 Exam:

To prepare for 1Z0-1058-24, the Oracle Learning Subscription, official documents, and related books or PDFs can be used. Practicing tests will help familiarize you with the types of questions expected from this examination while study forums and groups will help with peer support and deeper insights into the Oracle Risk Management Cloud and its risk management framework.

 

Conclusion:

The Oracle Risk Management Cloud Implementation Professional exam (1Z0-1058-24) is a career initiation, but it truly is more than just a test. Be you starting new with Oracle systems or now specializing in the areas of risk and compliance, this certification affirms your skills to implement and maintain an incredibly solid, cloud-based risk management framework.

However, through the consistency of effort, reliable study materials, and a deep, wide understanding of the Oracle Risk Management Cloud, one will be able to very smoothly qualify the exam on the first attempt.

 

Sample Questions for 1Z0-1058-24 Exam:

Q1. Which feature in Oracle Risk Management Cloud enables users to monitor user access for segregation of duties violations?

  1. Financial Reporting Center
  2. Advanced Access Controls
  3. Oracle Fusion General Ledger
  4. Audit Vault

Q2. What is the purpose of defining risk scenarios in a risk management framework?

  1. To configure job roles
  2. To track audit logs
  3. To identify, evaluate, and document potential threats
  4. To manage expense reports

Q3. What component of Oracle Risk Management Cloud is used to certify user access on a periodic basis?

  1. Role Management
  2. Access Certification
  3. Control Automation
  4. Financial Consolidation

Q4. Which report provides insights into risk violations detected through continuous monitoring?

  1. Profit and Loss Statement
  2. Risk Violation Summary
  3. Budget Forecast
  4. Period Close Report

Q5. What is a primary benefit of implementing the Oracle Risk Management Cloud solution?

  1. Manual control testing
  2. Increased data entry tasks
  3. Enhanced governance and compliance through automation
  4. Elimination of audit trails

Q1. Correct Answer: B

Q2. Correct Answer: C

Q3. Correct Answer: B

Q4. Correct Answer: B

Q5. Correct Answer: C

 

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