Oracle Risk Management Cloud 2021 Implementation Essentials : 1Z0-1058-21 Exam

  • Exam Code: 1Z0-1058-21
  • Exam Name: Oracle Risk Management Cloud 2021 Implementation Essentials
  • Updated: Aug 17, 2026
  • Q & A: 77 Questions and Answers

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Oracle 1Z0-1058-21 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Reporting and Analytics10%- Use analytics for risk insights
- Generate standard and custom reports
- Create dashboards and visualizations
Topic 2: Configuring Oracle Risk Management Cloud20%- Implement risk management configurations
- Set up the application including users, roles, and security
- Configure integration with external systems
- Define organization structure and business hierarchy
Topic 3: Testing and Implementation Best Practices10%- Data migration considerations
- Plan and execute implementation testing
- Change management and user adoption
Topic 4: Issues and Action Plans15%- Create and track action plans
- Manage issues lifecycle
- Issue remediation and closure
Topic 5: Risk Management Core Functions25%- Define risk taxonomy and categories
- Perform risk assessment and scoring
- Implement risk response and treatment plans
- Create and manage risk registers
Topic 6: Controls Management20%- Control testing and certification
- Control deficiency management
- Map controls to risks
- Design and implement control frameworks

Oracle Risk Management Cloud 2021 Implementation Essentials Sample Questions:

1. Which two steps are required to set up two levels of approval for new controls, which are added after the initial import? (Choose two.)

A) Identify users who will perform control review and approval.
B) On the Controls tab of the Import template, set the control state to NEW for each control record.
C) Identify the other roles to be provided for control managers.
D) Identify the organizations or business units for which users will perform review or approval.


2. You can relate objects in Financial Reporting Compliance. Which statement is true about editing or creating related objects in the Related Objects section on the Risk Definition page?

A) You can relate only an existing control, but not a new control.
B) You can relate a new process and a new control.
C) You can relate only process objects.
D) You can relate only control objects.


3. Select three fields that are required to createan impromptu assessment. (Choose three.)

A) Name
B) Activity
C) Reviewer
D) Template
E) Perspectives
F) Due Date


4. Your client needs to perform Design Review and Certification assessment for all their controls. Identify two options that show how this requirement can be met. (Choose two.)

A) Option E
B) Option B
C) Option C
D) Option A
E) Option D


5. How do you identify Financial Reporting Compliance Cloud's key stakeholders?

A) Identify executives who will manage customer balances and recognize revenue.
B) Identify users who need to create and submit expense reports easily.
C) Identify executives who need to certify internal controls for SOX or similar mandates.
D) Identify users who will create customer invoices, andreceive and apply customer payments.


Solutions:

Question # 1
Answer: A,D
Question # 2
Answer: B
Question # 3
Answer: A,D,F
Question # 4
Answer: D,E
Question # 5
Answer: A

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