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Oracle 1z1-495 Exam Syllabus Topics:

SectionObjectives
Topic 1: Plan Configuration- Eligibility and Profiles
- Budgeting and Worksheets
Topic 2: Total Compensation Statements- Statement Definitions
Topic 3: Compensation Basics- Compensation Plan Concepts
- Salary and Compensation Components

Oracle Fusion HCM: Compensation 2014 Essentials Sample Questions:

1. 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, 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,
C) 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.
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.


2. 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) 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.
C) All Employees will be able start the contribution anytime, update never, but discontinue during the period defined.
D) The contribution will be automatically added to all the employees in the payroll and HR can discontinue allocations on a request basis.


3. Which three statements are true regarding Plan Cycles?

A) All active plans are available to be cross-referenced, even plans with no started cycles.
B) You can display a target amount or custom score from a previous plan cycle In the current plan cycle.
C) You cannot display a target amount or custom score from a previous plan cycle in the current plan cycle.
D) Active plans are available to be cross-referenced, except plans with no started cycles.
E) You can reference a plan within itself to display values from a previous plan cycle in a subsequent cycle.


4. 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) No Impact. The budget allocated to the employee will automatically be allocated to Manager 3. Budget percentage will remain as 10.
B) Budget allocated for the employee will be released back to the manager for reallocation. Budget percentage will remain unchanged.
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%.


5. An administrator of a corporation must generate the compensation statements for the workers to notify them about their compensation details.
Identify the correct role that will give the administrator access to complete the process.

A) Line Manager
B) Compensation Administrator
C) HR Specialist
D) Compensation Manager


Solutions:

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

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