Oracle Fusion HCM: Compensation 2014 Essentials : 1z1-495

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Oracle 1z1-495 Exam Syllabus Topics:

Oracle Fusion HCM: Compensation 2014 Essentials Sample Questions:

1. Your client is a consumer goods wholesaler. The client's organization has five departments.
While performing compensation budgeting activity, the client has a policy that the departments that have exceeded their sales targets receive an additional budget to reward the employees to that department. In the current year, only the Electronics department has exceeded its sales target.
How would the compensation manager allocate the extra budget to the manager of the Electronics Department?

A) Initiate budgets automatically by using the Start Compensation Cycle process.
B) Request excess budget allocation from the manager above him.
C) Create a separate compensation plan for Electronics department employees and publish the extra budget to the manager of the department.
D) Publish the original budget to all managers, followed by publishing the extra budget to only the manager of the Electronics department.

2. While configuring a plan cycle, you have set the Worksheet update start and end dates as 15-Apr2014 and 31-May-2014, respectively. However, when a manager logs into the workforce compensation area on 5-Apr-2014, he is able to see the active plan, but in read-only mode.
What could be the possible reason for this?

A) Active plans are always shown in read-only mode once it is past the eligibility determination date.
B) Active plans are always shown in read-only mode until the Worksheet update period starts.
C) Active plans are always shown in read-only mode from the Plan Access start date, which (s generally prior to the Worksheet update date.
D) Active plans are always shown in read-only mode from the Evaluation period start date, which is always prior to the Worksheet update date.

3. A corporation is implementing Oracle Fusion Compensation Management and needs to set up the
following for all employees:
-Salary paid based on the grades of employees.
-Car allowance paid based on the department and position
-Spot bonus paid based on a committee's decision.
Identify the correct option for the setup.

A) Set up one individual compensation plan with all three options. Add the required payroll elements and add restriction based on eligibility profiles and plan access.
B) Set up a salary basis for "Salary" and associate a grade rate matrix to it, and add a car allowance and spot bonus as components for the salary basis along with Salary. Attach the required payroll elements to the salary. Have salary validations to restrict access and payment for specific departments and positions.
C) Set up a salary basis for "Salary" and associate a grade rate matrix and the payroll element to it. Set up individual compensation plans for the car allowance and spot bonus, and restrict the access to line manager and HR specialist respectively. Additionally, add an eligibility profile to the car allowance to restrict it to specific departments and positions.
D) Set up Salary and the spot bonus as two salary bases, because there are no eligibility restrictions. Set up the car allowance as an individual compensation plan- Add the required payroll elements and add eligibility profiles for the car allowance for specific departments and positions.

4. As an implementation consultant, you have created compensation items for the total compensation statement but have not attached them to compensation categories.
In this situation, which statement is correct?

A) You can add items to statement definitions directly.
B) You can add items to statement definitions directly, and to include Items in statements you must add items to a compensation category.
C) To include items in statements you must add items to a compensation category.
D) You cannot add items to statement definitions directly, and you cannot add items to a compensation category.

5. Your client's compensation plan for employees includes a component that is based on years of service in the organization. If a person completes 10 years in the company, he or she will be eligible for a seniority component and the associated fixed salary amount. What type of eligibility profile you would need to create in order to track work experience of people?

A) User-defined-criteria-based eligibility profile using hire date
B) Employment-based-eligibility-criteria using length of service
C) Derived-factor-based eligibility criteria using length of service
D) Employment-based eligibility criteria using hire date

Solutions: