This time the questions relate to 1Z0-211 General Ledger Fundamentals 11i exam that one has to take to qualify as OCP for the Oracle 11i Financials Consultant track.
The actual test would have about 75 questions to be answered in 90 minutes. I have provided 15 questions for the mini mock test. If one wants to time the test, take about 15 to 20 minutes to answer the questions, not more.
Question #1: Select the tasks that one would do for Revaluation
[a] Specify the square of the period-end rate as the revaluation rate
[b] Check the status of the foreign currency receivable and post it to the appropriate account
[c] Reverse the journal at the end of the next period
[d] Define an unrealized loss or gain account before running revaluation
[e] Define a revaluation rate for each currency by period before running revalutation
[f] Revaluate the B/S accounts that are denominated in a foreign currency as per SFAS 52 US
[g] Post the JEs
Question #2: Sequence the steps of the budget accouting cycle (e.g. 1-A, 2-B)
A: Freeze Budgets
B: Define Budget Period
C: Enter Budget Amounts
D: Report on Budgets
E: Review and Correct Budgets
Question #3: Which profile option descriptions are not correct?
[a] Journals: Default category option specifies the default category for manual JEs
[b] Journals: Enable Prior Period Notification notifies when you enter a journal for a prior period
[c] Journals: Find Approver Method specifies whether preparers can approve their journal batches
[d] Journals: Allow multiple exchange rates option enables multiple conversion rates within a JE
[e] Journals: Mix Statistical and Monetary option allows you to enter statistical and monetary amounts in same line
[f] Journals: Allow preparer approval specifies the default preparer for the journal approval process
[g]Journals: Override Reversal Method option enables you to override the specified default reveral method
Question #4: Which steps would you perform for currency conversion?
[a] Use spot, corporate, user, EMU fixed or user-defined conversion rate to assign to a rate
[b] Calculate inverse rates from the entered rate
[c] Define the daily rates to convert the entered foreign currency to a functional currency
[d] Specifiy a foreign currency, conversion rate and conversion rate type to display the daily rates
[e] Enter daily rates after definimg conversion rate types
[f] Enter daily rates before entering currency
Question #5: Which setup steps would you follow for configuring journal approval functionality?
[a] Define authorization limits for employees in journal authorization limits window
[b] Enable jounral approval, specify journal sources, and create approval hierarchy
[c] Configure journal approval process in Oracle GL
[d] Setup workflow and set GL profile options
Question #6: Select the tasks to be performed for Translation
[a] Translate actual and budget balances from functional to foreign currencies
[b] Enable average balance processing to translate average and standard balances
[c] Re-enter the period-end and period-average exchange rates for which you want to retranslate
[d] Use account or net activity to translate historic rates
[e] Define historic rates after running translation
[f] Perform retranslation if you post additional JEs
[g] Run translation before completing journal activity for the period
Question #7: Which of the following are not features of the Budget Wizard?
[a] Facilitates simple data entry and modeling only in a connected environment
[b] Automatically builds a budget spreadsheet based on the budget and budget organizations setup
[c] Requires you to justify or explain your budget using external documentation
[d] Allows entering new budget balances manually, use budget rules, or use formulas and models
[e] Automatically calculates budget amounts using formula
[f] Enables downloading existing budget balances from Oracle GL or to create a new budget
Question #8: Which of the following is true for a Budget Organization?
[a] Allows one to freeze budget of an organization even if the work on data of other budget organizations is not over
[b] One can setup separate budget organizations for different account ranges
[c] One can identify budgets that exceed control limits
[d] Requires deleting all account assignments if you want to delete budget organizations
[e] One can inquire and report on data
[f] One can divide the budget of an organization into different budget ranges
[g] One can perform top-down budgeting
Question #9: Which is of the following is not a true statement regarding Multi-currency feature
[a] Can enter transactions and report in any currency
[b] Enables one to perform remeasurement and revaluation
[c] One can perform currency conversion online and in real time
[d] Comprises only a single SOB
[e] Translates foregin currency financials statements and reports
[f] One can review entered, converted and translated balances
[g] Uses MRC for processing transactions
Question #10: Which among the following can be a Journal Entry Source?
[c] Service Contracts
[d] Work in Process
[e] Order Management
[f] Cost Management
[g] Fixed Assets
Question #11: A company has the following account segments and values - Company: (01 - US and 02 - CAD), Department: (101- East and 102- West), Account: (4000- Parent Value, 4001- Revenue Prod A, 4002- Revenue Prod B), and Rollup Group = Revenue To create summary accounts to reflect total revenue for each company, all departments, what summary template needs to be defined?
Question #12: Which of the following are wizards provided as part of Applications Desktop Integrator (ADI)?
[a] Revenue Wizard
[b] Analysis Wizard
[c] Budget Wizard
[d] Report Wizard
[e] Journal Wizard
[f] Account Wizard
Question #13: Choose valid period statuses for an accounting period
[a] Not Opened
[c] Future Enterable
[d] Partially Closed
[f] Permanently Closed
Question #14: Which among the following is not a recurring journal type?
Question #15: Which tasks can be performed using the Consolidation Workbench?
[a] Track changes in account balances of parent SOB
[b] Transfer data of multiple subsidiaries simultaneously to the parent SOB by consolidating balances
[c] Create consolidation mappings to consolidate a subsidary SOB with the parent SOB
[d] Create consolidation sets to transfer multiple transactions of a subsidiary in a single step
Enjoy the practice!