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NEW QUESTION 14
You are validating your customer's import template before import. The customer requires that all controls be set up so they are noted to be used for the Audit Test assessment type. How do you verify that this has been done?
- A. The Control comment filed has a notation for "Audit Test."
- B. The Control status filed is set to "Audit Test."
- C. The Control has a related process.
- D. The Assessment Flag and the Audit Testing Flag are both set to "Y."
Answer: C
NEW QUESTION 15
After generating an XML file export of Advanced Controlsperspectives, you receive a message that the export job has been generated.
What are the three steps you need to perform in order to download and review the formatted export file?
(Choose three.)
- A. Click the Item Results link.
- B. Navigate to Monitor Jobs and click the message link for the export job.
- C. Open with an HTML editor.
- D. Click the Export File button.
- E. Open with an XML editor, such as Excel.
Answer: B,D,E
NEW QUESTION 16
Howdo you add values to a Risk Type list of values?
- A. Add the lookup codes to the GRC_RISK_TYPE Lookup Type.
- B. Populate the Import template with the new values in the Issue Severity column on the Controls tab.
- C. Use the default lookup codes because there is no way to update the existing ones.
- D. Add the lookup codes to the GRCM_RISK_TYPE Lookup Type.
- E. Because you cannot add new values, updateone of the existing lookup codes to what the client wants it to be.
Answer: D
NEW QUESTION 17
Which two activities can be performed using Financial Reporting Compliance? (Choose two.)
- A. Review control assessment results, along with any effectiveness issues found.
- B. Provide self-service access to reporting and analysis against financial transactions.
- C. Review andapprove the accuracy and completeness of control descriptions.
- D. Gain real-time access to live financial data and proactively resolve issues.
- E. Continuously monitor financial transactions and role-based remediation of transaction incidents.
- F. Conduct intuitive audits of general ledger balances with journal details.
Answer: C,E
NEW QUESTION 18
Which statement related to Advanced Access Controls is true?
- A. Itdocuments risks and controls.
- B. It analyzes transaction records.
- C. If helps enforce segregation of duties.
- D. If helps perform risk analysis and evaluation.
Answer: C
NEW QUESTION 19
An assessor is trying to complete an operational assessment on a control for manual AP Invoice entry and is reviewing Prior Results.
Which statement is true about viewing Prior Results for this control?
- A. He or she will be able to review results of all prior operational assessments for all controls.
- B. He or she will be able to review results of all prior assessments of all types for this control.
- C. He or she will be able to review results of all prior Audit tests and operational assessments for this control.
- D. He or she will be able to review only results of prior operational assessments for this control.
- E. He or she will be able to review results of all prior assessments of all types for all controls.
Answer: C
NEW QUESTION 20
You have built a transaction model to identify possible duplicate charges between invoicing and expense credit cards. The model logic already includes twostandard filters that identify amounts and suppliers that are the same or similar, as shown:
Which additional date filter will further refine the set of duplicate charges found?
- A. The "Payables Invoice" object's "Invoice Date" attribute is similar to the "Expense Report Credit Card Transaction" object's "Transaction Date" attribute within +/- 10 days.
- B. The "Expense Report Credit Card Transaction" object's "Last Updated Date" attribute is greater than the "Relative Value" of 3 months.
- C. The "Expense Report Credit Card Transaction" object's "Transaction Date" attribute is not blank.
- D. The "Payables Invoice" object's "Invoice Date" attribute is greater than the "Expense Report Credit Card Transaction" object's "Transaction Date" attribute.
Answer: A
NEW QUESTION 21
You havecreated security roles for the Procure-to-Pay (P2P) Control Manager for the EMEA region in your client's organization. But, there are two problems with his or her security configuration.
Problem 1: This person should not receive notifications to complete control assessments, but currently he or she does.
Problem 2: Also, although he or she has access to controls associated with EMEA, he or she is unable to access controls created for individual regions within EMEA.
You have given him or her the following job role:
* EMEA P2P Control Manager Job Role
* Seeded Control Manager Duty Composite
* Seeded Control Certification Assessor Duty Composite
* EMEA P2P Control Manager Data Security Policy
* Seeded Control Manager Data Security Policy
* Perspective filter where Region Perspective "equals" EMEA
* Perspective filter where Process Perspective "equals" P2P
Which two actions need to be taken to correct the problems? (Choose two.)
- A. Add to the EMEA P2P Control Manager Data Security Policy the seeded Control Certification Assessor Data Security Policy.
- B. While defining data security policy, set the perspective value to EMEA including all child nodes of the EMEA region.
- C. Remove Control Certification Assessor Composite from the EMEA P2P Control Manager job role.
- D. Create EMEA P2P Control Certification Assessor Data Security Policy striped by both EMEA and P2P perspectives and assign to the job role.
Answer: A,B
NEW QUESTION 22
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 control objects.
- B. You can relate a new process and a new control.
- C. You can relate only an existing control, but not a new control.
- D. You can relate only process objects.
Answer: B
NEW QUESTION 23
Which three statements are true about the purpose of perspectives? (Choose three.)
- A. Perspectives are used to enable data security on Financial Reporting Compliance objects.
- B. Perspectives can be used to represent regional hierarchies.
- C. Perspectives can be used to define user privileges.
- D. Perspectives enable functional security in Financial Reporting Compliance.
- E. Perspectives can be used for categorizing Financial Reporting Compliance objects.
Answer: A,B,D
NEW QUESTION 24
You have scheduled quarterly assessments for a Control object at the beginning of the year with future dates.
However, the test plans associated with the Control object were updated before the assessment could be started. Which statement is true about this scenario?
- A. The updated test plans will become available during the assessment.
- B. The scheduled assessment process will end in error.
- C. The assessment will be associated with the version of the testplans from the time of assessment initiation.
- D. The user will have the option to select the older or newer versions of the test plans during the assessment process.
Answer: C
NEW QUESTION 25
You are implementing Advanced Financial Controls and you want to identify suspect transactions where the payment amount is less than $20 USD. However, you only want the results returned to be temporary.
What will you build in order to accomplish your objective?
- A. Filter
- B. Business object
- C. Control
- D. Template
- E. Model
Answer: E
NEW QUESTION 26
Your client has three operating units.
What are two ways in which you can exclude an operating unit where there are not enough personnel to allow segregation of duties? (Choose two.)
- A. Navigate to the Create Access Global Condition page and createa new condition logic filter, select the within same operating unit attribute, select the value yes, and then perform your exclusion though the advanced options check box.
- B. In a model, create a new condition logic filter, select the operating unit attribute and select the operating unit value.
- C. In a model, create a new condition logic filter, select the within sameoperating unit attribute, select the value yes, and then perform your exclusion though the advanced options check box.
- D. In a model, create a new condition logic filter, select the operating unit attribute, select the operating unit value, and then perform an exclusion though the advanced options check box.
- E. Navigate to the Create Access Global Condition page and create a new condition logic filter, select the operating unit attribute, select the operating unit value, and then perform an exclusion though the advanced options check box.
Answer: A,C
NEW QUESTION 27
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 Risk Object Configuration > Treatment = Hide and Default
- B. Configure Module Objects > Edit Risk Object Configuration > Treatment = Show
- C. Configure Module Perspectives > Edit Financial Reporting Compliance > Risk-Organization mapping set to required, active.
- D. Configure Module Objects > Edit Control Object Configuration > Result = Show
- E. Configure Module Objects > Edit Risk Object Configuration > Result = Show
Answer: D
NEW QUESTION 28
Which three are true about implementing a best practice solution for Financial Reporting Compliance?
(Choose three.)
- A. Large scope of project requires high effort for maintenance and administration.
- B. It provides maximum return on investment withminimum project risk.
- C. It promotes go-live with minimal acceptance testing and user training.
- D. It promotes rapid implementation and go-live.
- E. It promotes successful adoption and minimizes on-going cost of operation.
Answer: B,D,E
NEW QUESTION 29
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