Oracle 1z1-495 : Oracle Fusion HCM: Compensation 2014 Essentials

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Oracle Fusion HCM: Compensation 2014 Essentials Sample Questions:

1. A Corporation has implemented Oracle Fusion Compensation for a manufacturing client.
Which is the building block used in the calculation of deductions and exemptions?

A) Deduction range Values
B) Deduction overrides
C) Deduction ranges
D) Deduction range groups

2. Employee X was hired on 5 March 2014 as a Web Designer and was reporting to Manager Y.
On 10 September 2014, this employee was transferred to Manager Z to work as an Online Campaign designer. The company where Employee X works is doing a compensation cycle for the current year starting 1October 2014. The employee record set up in the plan setting is "Employment terms," while the Legal
Employer of Employee X uses a two-tier model.
On which manager's worksheet does Employee X appear?

A) Manager Z, because this is the current manager to whom Employee X is reporting
B) Manager Y, because this is the original manager of Employee X
C) Employee X does not appear on any manager's sheet, because he will not be evaluated by the compensation plan.
D) Both Manager Y and Manager Z, because he has worked under both of them during the current cycle

3. After creating a compensation plan and eligibility profiles, you are currently modeling the budget allocation. The HR manager informs you that one employee under Supervisor 1 has been seconded to a different country on a temporary basis with no changes to his employment terms and that this employee must be removed from the budgeting exercise.
What is the correct way of achieving this?

A) Use the Include check box next to the employee's name in the Budget worksheet to exclude the employee from the cycle.
B) Use the Edit button in the Employee's included area while creating a model to exclude the employee.
C) Modify the eligibility profile by using a formula to exclude the employee from appearing under Supervisor 1. After the compensation cycle is completed, revert the eligibility profile to its original form, if needed.
D) Advise Supervisor 1 not to allocate any compensation for the employee. In the meanwhile, manually adjust the budget allocated to Supervisor 1 to exclude the employee's amount.

4. Which three dates are mandatory while creating plan cycles?

A) Evaluation Period Start Date
B) Worksheet Update Period Start Date
C) Default Due Date
D) Plan Access Start Date
E) HR Data Extraction Date

5. A corporation implemented oracle Fusion Compensation. The Fusion Consultant followed the approach of Fusion Fast Formula instead of using Dynamic calculation in the Compensation Plan.
Which three statements are true about Fusion Fast Formula?

A) Compensation default and override formula types default the value of a column of Workforce Compensation Plan.
B) Compensation start date and Compensation end date are individual Compensation Plan Formula types.
C) Fast Formulas support the business need when existing rules and parameters are adequate.
D) "Working Storage Area" is not one of the components of Fusion Fast Formula.
E) Use Fast Formulas instead of existing application code to obtain non-standard results.

Solutions: