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Oracle 1z1-495 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Workforce Compensation | 25% | - Designing compensation plans - Configuring plan cycles and budgets - Administering compensation changes and models - Setting up worksheets, approvals, and access |
| Topic 2: Individual Compensation | 20% | - Setting up individual compensation plans - Configuring compensation history - Managing contributions and approvals |
| Topic 3: Total Compensation Statements | 15% | - Generating and publishing statements - Managing statement layouts - Defining compensation statements |
| Topic 4: Elements, Formulas, and Eligibility | 20% | - Managing fast formulas - Creating element eligibility criteria - Describing element classifications and deductions |
| Topic 5: Base Pay Configuration | 20% | - Configuring salary components - Managing base pay structures - Defining salary basis |
Oracle Fusion HCM: Compensation 2014 Essentials Sample Questions:
Per your client 5 policy on eligibility for a compensation revision cycle, employees who are in a notice period are not eligible. Manager X is currently in a notice period, but his direct reports are still eligible compensation cycle. You observe that the system allows Manager X to administer compensation for his direct reports.
You research this and find out that Manager X is still allowed to carry out the compensation allocation because his Eligibility Status is_____________.
- A. Ineligible
- B. Restricted
- C. Eligible
- D. Provisional
- E. Limited
Correct Answer: B 🗳️
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. 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.
- B. The contribution will be automatically added to all the employees in the payroll and HR can discontinue allocations on a request basis.
- C. 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.
- D. All Employees will be able start the contribution anytime, update never, but discontinue during the period defined.
Correct Answer: D 🗳️
A manager publishes budgets as amounts to the managers reporting to him. The following table shows the allocations made to each direct report (managers) and the total salaries of the employees in their chain.
Now, one of Manager 2's employees with eligible salary of $ 100,000 is reassigned to Manager 3. What will be the impact on Budget Percentage?
- A. Budget allocated for the employee will be released back to the manager for reallocation. Budget percentage will remain unchanged.
- B. No Impact. The budget allocated to the employee will automatically be allocated to Manager 3. Budget percentage will remain as 10.
- C. Allocated budget will not change. Budget percentage of Manager 3 will increase to 12.5% and Manager 2 will decrease to 8%.
- D. Allocated budget will not change. Budget percentage of Manager 2 will increase to 12.5% and Manager 3 will decrease to 8%.
Correct Answer: D 🗳️
You want to use the Workforce Compensation Budget pool for a workforce compensation plan.
Select the task to be performed, in the correct sequence.
a)Configure the workforce compensation budget pool
b)Configure the workforce compensation plan details
c)Run the Start Compensation plan
d)Create at least one worksheet compensation component and associate the budget pool with it.
- A. Create the workforce compensation plan, Configure the workforce compensation plan details. Configure the workforce compensation budget pool, Create at (east one worksheet compensation component and associate the budget pool with it, Run the Start Compensation Cycle process.
- B. Create the workforce compensation plan. Configure the workforce compensation budget pool,Create at least one worksheet compensation component and associate the budget pool with it, Configure the workforce compensation plan details. Run the Start Compensation Cycle process.
- C. Create the workforce compensation plan. Configure the workforce compensation budget pool,Configure the workforce compensation plan details, Create at least one worksheet compensation component and associate the budget pool with it, Run the Start Compensation Cycle process.
- D. Configure the workforce compensation budget pool, Configure the workforce compensation plan details, Run the Start Compensation Cycle process, Create the workforce compensation plan, Create at least one worksheet compensation component and associate the budget pool with it.
- E. Run the Start Compensation Cycle process, Create the workforce compensation plan, Configure the workforce compensation budget pool. Create at least one worksheet compensation component and associate the budget pool with it, Configure the workforce compensation plan details
Correct Answer: E 🗳️
A corporation implemented Fusion Compensation and wants to validate the salaries with the setup. Select the two options that are true about validation setup.
- A. Using either a formula at the element level or criteria at the element link level, approval can be prevented when the new or adjusted salary does not pass the configured validation.
- B. Using grade rate validation, a warning message can be generated when the new or adjusted salary is outside the range of salary configured in the grade rate attached to the salary basis.
- C. Using grade rate validation, approval can be prevented when the new or adjusted salary is outside the range of salary configured in the grade rate attached to salary basis,
- D. Using either a formula at the element level or criteria at the element link level, a warning message can be generated when a new or adjusted salary does not pass the configured validation.
Correct Answer: C,D 🗳️
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