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

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Oracle 1z1-495 Exam Syllabus Topics:

Oracle Fusion HCM: Compensation 2014 Essentials Sample Questions:

Question #1
While configuring the Budget page, you are setting the properties of the job column.
Which two sections are available in the properties for the job column?

A. Information
B. General
C. Legal Employee
D. Default Value

Question #2
A compensation manager of a corporation is setting up a new salary basis for the employees. Which statement is true about payroll elements set up for a salary basis?

A. Recurring elements can be linked to multiple salary bases only if they are classified as earnings elements, and they need not be configured to allow multiple entries in the same period.
B. Recurring elements can be linked to multiple salary bases only if they are classified as earnings elements and configured to allow multiple entries in the same period.
C. Payroll elements of any classification type can be attached to a salary basis.
D. Multiple payroll elements can be attached a salary basis.

Question #3
A corporation needs to set up a compensation plan for a Housing allowance that will allow the company to grant these allowances to only employees above a particular role.
Identify the option that indicates the correct way of implementing it.

A. Set up a salary basis and restrict the eligibility to the required roles.
B. The payroll administrator must add the element to the employees in the specified roles, because this cannot be achieved through configuration.
C. Set up role-based security to the Individual compensation wor1< area so that only managers are allowed.
D. Set up access restrictions to the individual compensation plan using the correct HR act/on so that it can be added only to the specific roles.

Question #4
The manager administering compensation has the option to create budget models to be used to allocate compensation.
Which four options regarding compensation modeling are correct?

A. Managers cannot share a model created by them.
B. A model can be shared with the direct reports of the creator.
C. Managers can create their own models and use them.
D. Managers can use a model created by compensation professionals.
E. Access of a model is limited only to the creator of the model.
F. Modeling enables managers to automatically allocate compensation to employees who meet certain criteria.

Question #5
A corporation is implementing Oracle Fusion Compensation Management and needs to set up the
following for all employees:
-Salary paid based on the grades of employees.
-Car allowance paid based on the department and position
-Spot bonus paid based on a committee's decision.
Identify the correct option for the setup.

A. Set up one individual compensation plan with all three options. Add the required payroll elements and add restriction based on eligibility profiles and plan access.
B. Set up Salary and the spot bonus as two salary bases, because there are no eligibility restrictions. Set up the car allowance as an individual compensation plan- Add the required payroll elements and add eligibility profiles for the car allowance for specific departments and positions.
C. Set up a salary basis for "Salary" and associate a grade rate matrix and the payroll element to it. Set up individual compensation plans for the car allowance and spot bonus, and restrict the access to line manager and HR specialist respectively. Additionally, add an eligibility profile to the car allowance to restrict it to specific departments and positions.
D. Set up a salary basis for "Salary" and associate a grade rate matrix to it, and add a car allowance and spot bonus as components for the salary basis along with Salary. Attach the required payroll elements to the salary. Have salary validations to restrict access and payment for specific departments and positions.

Solutions: