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Oracle 1Z0-1053-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Fast Formulas and Calculations | - Benefits Fast Formulas usage
|
| Eligibility and Profiles | - Eligibility Profiles setup and usage
|
| Plan and Program Configuration | - Benefit programs and plan design
|
| Payroll and Financial Integration | - Integration with payroll systems
|
| Security and Administration | - Role-based access and security model
|
| Reporting and Maintenance | - Benefits reporting and analytics
|
| Benefits Cloud Overview | - Architecture and key concepts of Oracle Benefits Cloud
|
| Enrollment and Life Events | - Life event processing
|
Oracle Benefits Cloud 2021 Implementation Essentials Sample Questions:
An organization has a requirement to restrict Beneficiary Distributions to a percentage with a maximum of
100%. However, the distribution should be in multiples of 10.
Which statement about this requirement is true?
- A. This requirement cannot be achieved with configurations, and would require custom Fast Formula.
- B. This requirement cannot be achieved in the current system offerings.
- C. This requirement can be completely achieved with configuration only.
- D. This requirement can be achieved through customization only.
Correct Answer: B 🗳️
You are a benefits consultant implementing for a company that offers a life Insurance plan for employees with only one option -Employee Plus Family. The rate for this option is dependent on various factor5 like age/smoking status/gender:
A female employee in the under 40 age group, who is a smoker, wants to purchase $100,000 of life insurance.
The plan would be 2.1 (100,000 * 0.21/1000), considering 5100,000 is the coverage she opts for. The calculation is -> {Coverage* [{Rate applied as per gender/smoking status/ aqe)/1000l).
How can you configure a rate for the company's plan?
- A. Configure an eligibility profile with age-derived factors. Attach it to the plan. Then create a standard fate with the calculation method as Multiple of Coverage.
- B. Configure a secondary rate with the calculation method as Multiple of Coverage.
- C. Configure a primary rate with the calculation method as Multiple of Coverage.
- D. Configure a fast formula calling this table. Configure a secondary standard rate with the calculation method as Formula. Then create another standard rate with type and the calculation method aS Multiple of Parent.
Correct Answer: C 🗳️
Which two are program types when you configure Flex Credits?
- A. Other Credits
- B. Core
- C. Flex
- D. Flex Credits and Core
Correct Answer: B,D 🗳️
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How do you set up a Termination life event to end coverage at the end of the month?
- A. Coverage and Rate Date Ranges:
Coverage Start Date: First of the Month
Previous Coverage End Date: End of the Month - B. Coverage and Rate Date Ranges:
Coverage Start Date: End of the Month
Previous Coverage End Date: First of the Next Month - C. Coverage and Pate Date Ranges:
Coverage Start Date: End of the Month
Previous Coverage End Date: End of the Month - D. Coverage and Rate Date Ranges:
Coverage Start Date: First of the Next Month
Previous Coverage End Date: End of the Month
Correct Answer: D 🗳️
XX Lifeinsurance plan has two options: Option 1 enrolls a dependent of age 21 or above and Option 2 enrolls a dependent aged 18 or less.
How do you define a benefit configuration for these two options?
- A. Create one derived factor. Create an eligibility profileand configure the derived factor under the eligibility profile. Then attach the eligibility profile to XX Life Insurance Plan.
- B. Create two eligibility profiles. One with age as 21 or above and a second with age 18 or less. Then attach these eligibility profiles to XX Life Insurance Plan.
- C. Create two derived factors, one with age as 21 or above and a second with age 18 or less. Create an eligibility profile and configure these two derived factors under the eligibility profile. Then attach the eligibility profile to XX Life Insurance Plan
- D. Create one derived factor. Create an eligibility profile and configure the derived factor under the eligibility profile. Then attach the eligibility profile to XX Life Insurance plan at Option 1, and then attach the same eligibility profile at Option 2.
Correct Answer: B 🗳️
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