September 8, 2007

Mini Mock Test for 1Z0-212 Payables Fundamentals Exam

Nearly every organization that has implemented Oracle E-Business Suite Financials use the Payables module. Hence, it's no wonder that 1Z0-212 Payables Fundamentals exam is also one of the most popular. The exam is based on a 4 day Oracle University course - 11i Oracle Payables Fundamentals Ed 3. The student guide for the course or Oracle Tutor Patch# 4450049 can serve as the foundation for your exam prep. Additional prep material may include reading the Oracle Financials Handbook, the "Black Book" and OUKC online courses and assessment tests.

Please find below a mini-mock test consisting of 20 questions that should be answered in half an hour or less. The actual exam would consist of around 60 plus questions to be answered in one and a half hour. I'll publish the solution key next week and hopefully by that time you would have a chance to allocate half an hour to test your prep. Hopefully, this mini mock test would assist you on your way to get the coveted certification for Oracle 11i Financials Certified Professional Consultant - Payables.

#1: Which of the following modules are not integrated with Oracle Payables?
[a] Oracle Sales Contracts
[b] Oracle Assets
[c] Oracle Property Manager
[d] Oracle Bill of Materials
[e] Oracle Projects

#2: You have been asked to create invoice distributions automatically. Which of the invoice distribution creation methods can be suggested?
[a] Manual Distribution Entry
[b] Using Distribution Set
[c] Using PO Matching
[d] Using Allocation (e.g for tax or freight)

#3: Which of the Payables Setup match correctly with the form where you need to set them up?
[a] Invoice Match Option - Payables Option
[b] VAT Registration Number - Financials Option
[c] Use Multiple Currencies - Payables Option
[d] Use Invoice Approval Workflow - Financials Option
[e] Tax Code Defaults - Tax Codes

#4: Which of the following can be done with Oracle Internet Expenses ?
[a] Account correctly for the expenses
[b] Limit spend on administration
[c] Pay the Credit Card Issuer
[d] Validate legitimate business expenses

#5: Which modules will allow you to upload approved property lease and equipment charges for automatic payment?
[a] Oracle Service Contracts
[b] Oracle Purchasing
[c] Oracle Lease Management
[d] Oracle Cash Management
[e] Oracle Property Manager

#6: Your company has decided to end business relationship with a supplier. There was an outstanding credit memo of $1000. The supplier sent in their last invoice of $750. How would you record the above transactions in the system?
[a] Enter a debit memo for $250 and apply to credit memo
[b] Enter a refund of $250 and apply to credit memo and invoice
[c] Enter a payment of $250
[d] Enter a prepayment of $250 and apply to invoice

#7: Which one of the following is part of the Automatic Credit Card Registration
[a] Assign New Cards to Employee
[b] Automatic Card Activation (if desired)
[c] Identify Registered Cards in Data Feed
[d] Create New Card Automatically

#8: When setting up new suppliers, from which of the setup forms do most of the information default on the various supplier setup tabs?
[a] Financial Options
[b] Supper Item Setup
[c] Payables Options
[d] Operating Unit Setup
[e] Receiving Options

#9: Which of the following is part of the Audit Process Enhancement for Oracle Internet Expenses?
[a] Ability to Reject Entire Expense Report
[b] Non-Accessibility to Invoice and Payment Information
[c] Ability to Set Up Descriptive Audit Codes
[d] Ability to Capture Receipt Package Information

#10: Which profile option prevents suppliers from matching an invoice to more than one purchase order when entering invoices online in Oracle iSupplier Portal?
[a] iSupplier Portal matching control
[b] Supplier Site Contacts Enhancements
[c] Enhanced Matching Controls
[d] Invoice Approval Workflow (IAW) Resubmission

#11: Which statement is incorrect about modifying a payment batch?
[a] One can create a zero-amount payment for a supplier site
[b] One can remove all invoices for a particular supplier site
[c] Payables automatically builds payments after you modify a payment batch
[d] One can create a negative-amount payment to clear a credit memo
[e] One can modify the payment or discount amounts for a selected invoice

#12: Name an apppropriate business reason for using the clearing payment method?
[a] Account for intercompany expenses when disbursing funds through banks
[b] Generate a payment document to clear a debit memo
[c] Account for intercompany expenses when not disbursing funds through banks
[d] Generate a payment document to clear a credit memo

#13: The Supplier Bank Account access feature controls the display of which of the following?
[a] Bank Accounts tab in Suppliers window
[b] Contacts tab in Supplier Site window
[c] Supplier Assignments tab in Bank Account Window
[d] Bank Accounts tab in Supplier Site window

#14: Which among the following are the valid Invoice Types?
[a] QuickMatch
[b] Purchase Order Match
[c] Prepayment Invoice
[d] Tax
[e] Mixed

#15: You have been asked to implement an invoicing procedure to have rent invoices generated automatically every month. Which feature of Oracle Payables would you use?
[a] RTS Invoices
[b] Recurring Invoices
[c] Retroactive Price Adjustment Invoices
[d] Lease Payments from Oracle Assets

#16: 120 LCD Monitors were ordered for $299.00 each as per the approved PO. 112 LCD Monitors were received by the requested delivery date and 7 of them were found to have been damaged in transit and hence not accepted. Each LCD Monitor had the price increased to $305 when the supplier sent the invoice. The AP system was setup for 4-way matching with the following tolerances: Quantity Ordered = 15%, Quantity Received = 10%, Price = 5%. What would be the outcome after invoice match?
[a] Invoice on Qty Ord Hold
[b] Invoice on Qty Rec Hold
[c] Invoice on Price Hold
[d] Invoice matched successfully

#17: Which of the following statements are true regarding receipt accruals?
[a] When you accrue on receipt, processing a receiving transaction automatically sends a receipt accrual to the general ledger when the Journal Import process is run with a source of Purchasing
[b] When items are accrued on receipt, period-end accrual is generated by the Receipt Accruals - Period-End process
[c] When you process a receipt, no accounting is created for period end accruals. Receipts that are accrued at period end will always be for a destination type of expense
[d] If an invoice is not entered by period end, the Receipt Accruals - Period End process will generate accruals and transfer the accounting for them to the GL. This journal is created with a reversal date in a subsequent period

#18: The tax calculated on the invoice by the system is $3.987. Which among the following are the correct tax calculation on the invoice?
[a] Tax amount = $ 4.00 with Rounding Rule = Up
[b] Tax amount = $ 3.99 with Rounding Rule = Down
[c] Tax amount = $ 3.99 with Rounding Rule = Nearest
[d] Tax amount = $ 3.98 with Rounding Rule = Down

#19: A team member has given a list of specific forms that she needs to setup key accounts. Which among the following are incorrect matches?
[a] Prepayment Account: Payables Option > Payment Accounting
[b] Realized Gain Account: Payables Option > Currency
[c] Rounding Account: Financials Option > Accounting
[d] Clearing Account: Receiving Option

#20: New Features for Oracle Payables include which of the following?
[a] Tax codes defaults hierarchy
[b] Enhanced Matching Controls for Oracle iSupplier Portal
[c] Supplier Site Contacts Enhancements
[d] Invoice Approval Workflow (IAW) Resubmission Enhancement
[e] Supplier Bank Account Update Enhancements

Click Here For the Solution Key


  1. Hi, could you provide ansers to the Payables micro mock test

    1. I wanted to thank you for this excellent read. I definitely loved every little bit of it.
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  2. could you mail the answers to

    Thank you very much

  3. hi

    I have done all the above questions.. now, how can i check my answers..
    can any one send me the answer key of the above questions...
    My E-Mail Address is:,

    Thanks & Regards

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  4. i too worked on these question can you pls provide me the answers...pls email at

    1. Thank you for sharing your experience with us. It is indeed very inspiring.
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  5. can you please provide me the answers and some more questions for the financial modules.


  6. The solution key for the questions can be found here -

  7. Hi

    For question3, the answers are b and c. A is not correct as Invoice Match Option need to be set up using Financials Options Screen(Supplier Payables Tab,PO or Receipt)

  8. Hi Ram:
    Thanks for reviewing my blog.
    I have e-mailed you a screenshot of Payables option for Invoice Matching for your review.
    For Q#3, one of the correct answers is indeed option [a]
    Best of Luck,
    Your OCP Advisor

  9. sir i am pawandeep, as per my qualification i am bba& mba in finance. sir i have taken 6 motnhs of training in oracle apps r12 financials module in(oracle payables, oracle receivables, general ledger, purchasing, cah management, fixed assets).
    sir i have completed mba in 2011 and i am fresher, so sir i want to know that for procuring job in mnc like cognizant, ernst&young, fujitsu in account payable( FINANCE&ACCOUNT) PROFILE this certification will help me or not, because i am fresher and companies generally demand for 3-4yrs of experience candidate for oracle functional.
    with regards - pawan

  10. TY, nice post! This was the stuff I had to have.

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  11. This comment has been removed by the author.

  12. Regards
    Sridevi Koduru (Senior Oracle Apps Trainer
    LinkedIn profile -
    Please Contact for One to One Online Training on Oracle Apps Technical, Financials, SCM, OAF, SQL, PL/SQL, D2K at | +91 - 9581017828.