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Exam Code: 1Z0-1058-21
Exam Name: Oracle Risk Management Cloud 2021 Implementation Essentials
Updated: Jul 25, 2026
Q & A: 77 Questions and Answers
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| Section | Weight | Objectives |
|---|---|---|
| Risk Management Core Functions | 25% | - Create and manage risk registers - Implement risk response and treatment plans - Perform risk assessment and scoring - Define risk taxonomy and categories |
| Configuring Oracle Risk Management Cloud | 20% | - Configure integration with external systems - Implement risk management configurations - Set up the application including users, roles, and security - Define organization structure and business hierarchy |
| Issues and Action Plans | 15% | - Manage issues lifecycle - Issue remediation and closure - Create and track action plans |
| Controls Management | 20% | - Control deficiency management - Control testing and certification - Design and implement control frameworks - Map controls to risks |
| Testing and Implementation Best Practices | 10% | - Plan and execute implementation testing - Data migration considerations - Change management and user adoption |
| Reporting and Analytics | 10% | - Use analytics for risk insights - Create dashboards and visualizations - Generate standard and custom reports |
1. You are implementing Advanced Access Controls for a client who wants to limit the seeded job role
"Application Access Auditor". This job role should NOT include system configuration duties, but allows the user to monitor jobs schedules forAdvanced Controls.
After the seeded job role is copied, that two duty roles should be removed to comply with the access restrictions? (Choose two.)
A) Access Control Manager
B) Advanced Control System Administrator
C) Access Model Manager
D) Access incident Results Manager
E) Application Data Source Manager
2. You are gathering requirements on how your client performs control assessments. Which three tasks should you complete to set up assessments in Financial Reporting Compliance? (Choose three.)
A) Understand the sample size for each audit test.
B) Determine whether assessments templates, plans, and completed assessments need to go through a review and approve workflow.
C) Determine if control assessments are planned ahead of time or are run impromptu.
D) Determine the main objectives of deploying the control.
E) Identify the type of assessments included in each assessment cycle.
3. Your customer has a requirement to define an IT Compliance Manager job role with privileges to manage risks and controls, and the issues related to the risks and controls.
What are the duty roles that must be included in this job role to achieve this requirement?
A) Seeded Issue Manager Composite
B) Seeded Risk Issue Manager and Control Issue Manager
C) Seeded Issue Manager Composite and Issue Validator Composite
D) Seeded Risk Manager Composite, Control Manager Composite, and Issue Manager Composite
4. You are helping your client identify and define their controls. You have determined that your client requires two perspectives: Business Units and Regulatory Standards.
The controls are going to be secured by the business unit, and you want to ensure that when the client defines new controls, it is mandatory to assign a Business Units perspective to the control. You are going to set the
"Required" field to "yes" for the Control-Business Units association.
Where do you do this in the product?
A) The Create Control screen
B) The Import template
C) The Create Perspectives screen
D) The Manage Object Perspectives screen
E) The Manage Module Perspectives screen
5. Which two should youdetermine to ensure that your client can successfully maintain and administer Perspectives post go-live? (Choose two.)
A) Identify if your client wants to review and/or approve new perspectives or changes made to existing perspectives.
B) Identify users who will be responsible for creating andmaintaining controls and/or risks.
C) Identify lookupvalues that need to be created for Control, Risk, and Issue Type fields.
D) Identify users who will be responsible for creating and maintaining perspectives, both for security as well as reporting.
Solutions:
| Question # 1 Answer: C,D | Question # 2 Answer: A,B,C | Question # 3 Answer: D | Question # 4 Answer: C | Question # 5 Answer: A,C |
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