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Updated: Jun 19, 2026
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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:
1. Which statement is FALSE about running consolidations?
A) When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated.
B) When you consolidate a parent, children with the Impacted calculation status are also consolidated.
C) When you consolidate an entity for a period, prior periods with the Impacted calculation status are also consolidated.
D) Running consolidation using the Force Consolidate option consolidates entities with any calculation status other than OK or NO DATA.
2. When do you enable submission phases for your approval process?
A) When you assign the approval unit hierarchy to a scenario, period, and year
B) When you start the approval process for an approval unit on the Manage Approvals page
C) When you set up the approval unit hierarchy
D) When you set the member properties for the entity
3. You are
required to create a form that allows users to input dat
a. Which three actions are consistent with this?
A) Grant the data input users WRITE access to the dimension members used on the form.
B) Set the consolidation member on the form to FCCS_Entity Input.
C) In the member selection for Entity, do not include shared entities, include only primary instances of entities.
D) Select level 0 dimension members for the POV, rows, and columns.
E) Set the currency on the form to Parent Currency.
4. Which components are prebuilt into Financial Consolidation and Close to provide a configurable and scalable consolidation solution?
A) Pre-built integrations to combine narrative and data to produce both internal and external reporting packages
B) Calculations, dashboards, and reports to provide analysis for cash flow modeling
C) Calculations, dashboards, and reports as well as detailed data source tracking and an automated cash flow
D) Calculations, dashboards, and reports built on planning frameworks to provide cash flow planning
5. What are
two important first steps in initially setting up Task Manager?
A) Assign tasks to users.
B) Create a schedule and set it to Open status.
C) Set up Users.
D) Define system settings such as Organization units, Holiday rules and Task attachment size.
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: A,B,D | Question # 4 Answer: C | Question # 5 Answer: C,D |
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