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Oracle 1z0-1081-23 : Oracle Financial Consolidation and Close 2023 Implementation Professional

1z0-1081-23

Exam Code: 1z0-1081-23

Exam Name: Oracle Financial Consolidation and Close 2023 Implementation Professional

Updated: Sep 14, 2026

Q & A: 60 Questions and Answers

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Oracle 1z0-1081-23 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Consolidation Process and Logic28%- Ownership management and consolidation methods
- Currency translation and exchange rates
- Consolidation workflow and balance calculation
- Intercompany eliminations and adjustments
Topic 2: Close Process and Journal Management22%- Journal creation, approval and posting
- Supplemental Data setup
- Approval units and workflow
- Task Manager configuration
Topic 3: Data Integration and Reporting22%- EPM Automate and application maintenance
- Financial reporting and dashboards
- Data loading and integration configuration
- Data forms and valid intersections
Topic 4: Application Setup and Configuration28%- System settings and validation
- Security setup and role assignment
- Dimension management and metadata configuration
- FCCS architecture and business process setup

Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

Question #1
Which statement is FALSE about when Intercompany Data is enabled?

A. Tracking intercompany eliminations is optional.
B. In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.
C. The Intercompany Entity attribute for an entity must be set to Yes to store intercompany data.
D. Intercompany accounts are assigned plug accounts.


Question #2
Which statement is true if the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created?

A. An extra custom dimension is available.
B. The ICP dimension is omitted.
C. The FCCS No Intercompany member of the ICP dimension is used for all data.
D. Data can be stored by the intercompany partner but no eliminations occur.


Question #3
Which statement is FALSE about Task Manager schedules?

A. To start all the tasks in a schedule, you must change the status from Pending to Open.
B. You can still add tasks to a schedule that has been closed.
C. Users can still complete tasks in a schedule that has been closed.
D. You can re-open a schedule that has been locked.


Question #4
What is the result of enabling the Calculate Movements system rule?

A. Level 0 movement members become read only in web forms, and must be populated through data load.
B. To support forecasting and budgeting, periodic movements are calculated from the quarterly or annual target values that are entered.
C. The current period's movement value is calculated as the difference between Closing Balance Input and Opening Balance.
D. Closing Balance is aggregated from Opening Balance and the current period's movement value.


Question #5
Which is NOT a Financial Consolidation and Close task that you can perform using EPM Automate?

A. Run a business rule
B. Import journals
C. Export metadata
D. Load a data file


Solutions:

Question #1
Correct Answer: B
Question #2
Correct Answer: B
Question #3
Correct Answer: B
Question #4
Correct Answer: D
Question #5
Correct Answer: C

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