Get ready to pass the 1z0-1057-22 Exam right now using our Project Financials Management Cloud Exam Package [Q24-Q46]

Q24. Your organization has created an Enterprise Project Structure (EPS) and your executives review the overall project labor demand by using the EPS. Identify two correct statements about the periodic project labor demand. (Choose two.)

Q25. You create a contract with two contract lines: Line 1 and Line 2. You create separate bill plans: A for contract Line 1 and B contract for Line 2, with a different bill set number (11 for Bill Plan A and 22 for Bill Plan B).
Then Bill Plan A is allocated against Project X – Task 10, and Bill Plan B is allocated against Project Y – Task 30.
Based on the preceding setup, you are generating invoices. Identify two correct statements about invoice generation in this scenario. (Choose two.)

Q26. Your customer has the following setups on the project plan type that they are using for their projects:
Use Task Planned Dates as Task Assignment Dates = Yes
Automatically Roll Up Task Planned Dates = Yes
Synchronize Task Transaction Dates with Planned Dates = No
With these setups in place, you perform the following actions:
1. Create a new subtask (Sub Task 1) with a start date of 15-Jun-2016 on the project that has as start date of 01-Jul-2016.
2. Create another new subtask (Sub Task 2) after the previous action is saved.
What would the correct behavior of the application be after these actions? (Choose the best answer.)

Q27. You are implementing Project Portfolio Management (PPM) for a professional services firm. The firm rents multiple buildings for its operations. At the end of each month, they review the rent expense for the month and want to allocate the rental cost to all the projects and tasks that are executed by associates in each of the buildings. The source amounts must be proportionally allocated to the tasks based on the raw costs of the tasks from the previous month. Considering that all these costs are in General Ledger, what three allocation setups should you complete in PPM? (Choose three.)

Q28. You are set up as a Follower in Manage Tasks. Which two abilities can you accomplish? (Choose two.)

Q29. While creating a new project template, you notice that a default Asset Cost Allocation method is being automatically associated. Identify the source setup from which the default value is being inherited. (Choose the best answer.)

Q30. In your customer site, the capitalized interest calculation is implemented on their project types. Which option represents the costs considered in the interest calculation? (Choose the best answer.)

Q31. You want to create a few project roles so as to restrict access in the Project Financial Management work area to only the specific projects in which an employee is assigned as a team member. What are the two default project roles available to meet this requirement? (Choose two.)

Q32. Your organization performs revenue recognition based on the Labor and Non-labor Burden schedule types. Identify the setup required to enable this kind of revenue recognition. (Choose the best answer.)

Q33. Which three tools are available for accessing REST APIs?

Q34. Which three are part of using the Rapid Implementation for Project Financial Management Applications macro-enabled Microsoft Excel spreadsheet to enter setup data?

Q35. Your customer has separate organizations to maintain indirect, capital, and billing types of projects.
Identify the two setups that can be used to fulfill this requirement. (Choose two.)

Q36. You are implementing Project Portfolio Management for a global professional services organization. In their Consulting Services line of business, it is common to use resources from different business units based on the skills required. Therefore, cross-charge transactions happen between business units within the same legal entity. Transfer price calculations need to be based on raw costs, with no further adjustments to transfer price.
Identify two setups that can drive this borrowed and lent agreement. (Choose two.)

Q37. When scheduling the Update Project Performance Data process to run on a periodic basis, which summarization method would you select? (Choose the best answer.)

Q38. You recently made some changes to a project contract and the current status of the contract is Under Amendment. Identify the correct sequence of activities that can take place on that contract. (Choose the best answer.)

Q39. You have been asked to set up one active person, who is not a team member in the project, as a quality manager for each quality task created under projects. However, when you try to assign the quality manager as Task Manager, you cannot find the person’s name in the list of values. What is the reason for this problem? (Choose the best answer.)

Q40. You have a billable project for which the following details are provided:
Associated Inception-To-Date (ITD) Project Actual Cost: USD 60
Associated Project Budgeted Cost: USD 300
Contract Amount: USD 1000
Project Funded Amount: USD 750
Sum of Existing Revenue Events: USD 80
Identify the Associated Project Spent revenue that will get generated based on the preceding details. (Choose the best answer.)

Q41. Which two statements are true about a project in “Draft” status? (Choose two.)

Q42. Which application generates external roles to grant both function and data security? (Choose the best answer.)

Q43. Which two statements are true about the cross-charge method, Borrowed and Lent?

Q44. When implementing Project Performance Reporting, your customer has the following requirements:
Every time a project cost is greater than or equal to a threshold, then the project should be shown as critical.
As long as a project cost is less than the threshold, the project should be shown as on-track.
Which threshold level rule is ideal for this kind of KPI definition? (Choose the best answer.)

Q45. You are trying to create a custom infolet but are not able to find the “Create Infolet” option in the Infolet repository window. Which two steps should be completed before you can access the “Create Infolet” option?

Q46. You are trying to create a project purchase order (PO) but you are unable to select Expenditure Organization in the PO. Identify two reasons for this problem. (Choose two.)