Exam Code: 1z1-506
Exam Name: Oracle Fusion Financials 11g Accounts Receivable Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Applications
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Oracle 1z1-506 Exam Syllabus Topics:

SectionObjectives
Topic 1: Overview of Receivables- Reference data sets configuration
- Shared service model configuration
- Customer management in Accounts Receivable
- Receivables dashboard analysis
Topic 2: Billing and Revenue Management- Bill presentment architecture
- Revenue management
- Billing dashboard analysis
- Process billing transactions
Topic 3: Collections- Delinquency process deployment
- Dispute handling management
- Customer correspondence process
- Collection preferences setup
- Collections dashboard functionality
Topic 4: Receipt Management- Receipt processing
- Receipt dashboard usage
- Funds capture definition
- Customer refunds management
Topic 5: Other Accounts Receivable Topics- Subledger accounting configuration
- Late charges usage
- Period close process setup
- Write-offs, adjustments, and chargebacks

Oracle Fusion Financials 11g Accounts Receivable Essentials Sample Questions:

The drilldown option available in the task pane for receipts does NOT include ____________.

  • A. Create Receipt via Spreadsheet
  • B. Correct Funds Transfer Errors
  • C. Lockbox Transmission History
  • D. Create Remittance via Spreadsheet
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

What are the three ways a Dispute Request can be submitted?

  • A. By a Billing Specialist through the Billing Work Area
  • B. By a Billing Manager through the Transaction UI in the Adjustment Work Area
  • C. By an Account Receivables Specialist through the Receivables Balances Work Area
  • D. By a Collections Agent through the Advanced Collections application in the Customer Work Area
  • E. By a Receivable Manager through the Reconciliation Work Area
Reveal Solution  Discussion  0

Correct Answer: A,D,E  🗳️

Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).

Which three actions are facilitated through The Reconciliation Summary Report?

  • A. Drill down to see reconciliation details and make reconciling for corrections.
  • B. Drill down on the difference amounts to see specific reconciling items and the potential cause of the out of balance condition.
  • C. Drill down to view the data and use standard Excel functionalities like sum, find, sort, and filtering WITHOUT downloading to Excel.
  • D. Drill down from any of the summarized Receivables and Accounting amounts to see the detailed activity.
  • E. Drill down to see details of what still needs to be transferred and posted to the General Ledger.
Reveal Solution  Discussion  0

Correct Answer: A,B,D  🗳️

Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).

A Collections Agent wants to verify that the delinquency status are accurately assigned and all the dependent processes have occurred. Which three options are true in this scenario?

  • A. Go to the Collector's Work Queue and see whether the delinquent accounts are listed under the Delinquent Accounts node.
  • B. Select the Collections window to see the dunning events that have occurred.
  • C. Navigate to the Collections tab to find all delinquencies In the Collection Header.
  • D. If strategies are used, go to the Collector's Work Queue and verify that the strategy work items are listed.
  • E. Navigate to the Transactions tab to verify that the open work items are listed.
Reveal Solution  Discussion  0

Correct Answer: A,D,E  🗳️

Which option must be set up in order to adjust an invoice and enter an amount greater than the balance due?

  • A. You can NOT enter on amount, greater than the balance due.
  • B. Set the Allow Overapplication on the profile options to Yes.
  • C. Set the Allow Overapplication on transaction type to Yes.
  • D. Set the Allow Overapplication on receivables activity to Yes.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).

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