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Exam Code: 1z0-495
Exam Name: Oracle Fusion HCM: Compensation 2014 Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Fusion HCM: Compensation 2014 Certified Implementation Specialist

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Which three dates are mandatory while creating plan cycles?

A.    Evaluation Period Start Date
B.    Worksheet Update Period Start Date
C.    Plan Access Start Date
D.    HR Data Extraction Date
E.    Default Due Date

Answer: ABD

While implementing Oracle Fusion Compensation Management for client XYZ, you are grouping compensation items and categories for displaying them together. Therefore, when planning how to group compensation items and categories, you must consider which three options?

A.    Category Type
B.    Contribution Type and Unit of Measure
C.    Level of detail
D.    Statement definitions
E.    Compensation Items
F.    Category Detail

Answer: BCE

A Corporation has implemented Oracle Fusion Compensation for a manufacturing client.
Which is the building block used in the calculation of deductions and exemptions?

A.    Deduction ranges
B.    Deduction range groups
C.    Deduction range Values
D.    Deduction overrides

Answer: B

As an implementation consultant, you are required to define a total compensation statement.
You are creating the compensation items for the same.
Which four source types are available for selection while creating a compensation item for the total compensation statement?

A.    Element Entry
B.    Benefit Balance
C.    Formula
D.    Payroll Balance
E.    Deduction Range
F.    Input Value

Answer: ABDF

A compensation manager of a corporation is setting up a new salary basis for the employees. Which statement is true about payroll elements set up for a salary basis?

A.    Recurring elements can be linked to multiple salary bases only if they are classified as earnings elements and configured to allow multiple entries in the same period.
B.    Recurring elements can be linked to multiple salary bases only if they are classified as earnings elements, and they need not be configured to allow multiple entries in the same period.
C.    Multiple payroll elements can be attached a salary basis.
D.    Payroll elements of any classification type can be attached to a salary basis.

Answer: D

Identify the three choices when configuring approvals.

A.    Approve mode
B.    Submit mode
C.    Alternative approve hierarchy
D.    Auto approval

Answer: ABD

A corporation has implemented Oracle Fusion Compensation Management and set up an individual compensation plan with the following details.
– Name: Variable component
– Restrict plan access: Yes
– Action: Manage Contributions
– Access Level: New
– Allocations: Always Allow
– Update Allocations: Never Allow
– Discontinue Allocations: “Allowed during a specific period” with the period start and end dates configured.
Identify the correct option for the actions possible.

A.    All Employees will be able start the contribution anytime, update never, but discontinue during the period defined.
B.    Only managers will be able start the contribution anytime, update never, but discontinue during the period defined for any specific employee by using the manager dashboard.
C.    The plan setup is always for HR to take actions and, therefore, only HR will be able to start the contribution anytime, update never, but discontinue during the period defined for any specific employee.
D.    The contribution will be automatically added to all the employees in the payroll and HR can discontinue allocations on a request basis.

Answer: A

You create a compensation plan and attach a Compensation Performance rating model to it. While the manager is allocating compensation, he specifies a rating for each of the employeesunder him. Where will the rating specified by the manager be available?

A.    Only within the current compensation plan and all cycles associated with it
B.    Only within the current compensation plan and the current cycle
C.    To the current compensation plan and the Performance Management system
D.    To the current compensation plan and HR system

Answer: C

You have created a Compensation Plan and configured the plan details. However, when you try to runthe “Start Compensation Cycle” process, you are not able to see the plan you created in the ilk that appear.
Which three options could be possible reasons for this?

A.    Your user role does not have access to view the plan.
B.    The Compensation Administrator or equivalent role is not attached to your plan.
C.    Access to the Compensation Administrator role is restricted in Plan Access.
D.    Restrict Plan access is set to “NO”; however, the roles that are allowed are not specified.
E.    Restrict Plan access is set to “YFS” and the Compensation Administrator role is added to the list of roles in “Plan access from Compensation work area.”

Answer: ACE

A corporation implemented Oracle Fusion Compensation Management. A salary bas/s has been created and attached to the employee and a compensation cycle has been run.
The corporation wants to include a new component as part of the salary basis.
Which three are predefined components?

A.    Regular and automatic adjustment
B.    Market adjustment due to salary being out of line with the market
C.    Equity adjustment to correct salary compression or inversion
D.    Adjustment due to corrections within the organization

Answer: ABD

Employee X was hired on 5 March 2014 as a Web Designer and was reporting to Manager Y.
On 10 September 2014, this employee was transferred to Manager Z to work as an Online Campaign designer. The company where Employee X works is doing a compensation cycle for the current year starting 1October 2014. The employee record set up in the plan setting is “Employment terms,” while the Legal
Employer of Employee X uses a two-tier model.
On which manager’s worksheet does Employee X appear?

A.    Manager Y, because this is the original manager of Employee X
B.    Manager Z, because this is the current manager to whom Employee X is reporting
C.    Both Manager Y and Manager Z, because he has worked under both of them during the current cycle
D.    Employee X does not appear on any manager’s sheet, because he will not be evaluated by the compensation plan.

Answer: C

A corporation is implementing Oracle Fusion Compensation Management. Different currencies are set at the Legislative Data Group level, the Organization payment level, the Bank account level, and the payroll element level.
The currency shown while configuring salary basis comes from which level?

A.    From the input value of the payroll element
B.    From the Legislative Data Group level, because that is the highestlevelin the hierarchy
C.    From the organization payment level, because the compensation is finally paid through this
D.    From the Bank account level

Answer: B

A corporation is implementing Oracle Fusion Compensation Management and needs to set up Compensation history.
Identify the three correct options regarding the various compensations shown in the history.

A.    Compensation history displays six categories of compensation.
B.    Compensation history automatically retrieves salary and stock-related information.
The Recurring payments and other categories have to be added manually.
C.    Compensation history shows one-time payments in other compensation and allowances paid regularly in recurring payments.
D.    The summary in the compensation history shows the data for only five years.

Answer: ACD

While creating a compensation plan, the compensation manager of your client’s organization chooses to enable Compensation Change statement, as an implementation consultant, which is the dependantconfiguration that you would advise the compensation manager to platform?

A.    Enable Components and create at least one component (Configure Compensation Component)
B.    Enable the Communication tab type (Configure Worksheet Page Layout)
C.    Enable components and create a component linked to the budget pool (Configure Compensation Components)
D.    Configure related components (Configure Worksheet Page Layout: Detail Table tab)

Answer: A



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