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:

1. What happens when you define Workforce Compensation Plan components but the employee to whom the compensation change is being administered does not have ant component in this or her salary?

A) The sum of all components identified to be posted as single salary adjustment amount to the employee salary record.
B) The component adjustment is not posted as a salary adjustment to the employee's record. While designing the compensation plan, it has to be kept in mind that plan components must have a direct mapping with the employee's salary components.
C) The first component is automatically mapped to the salary and amount associated with this component is posted as a salary adjustment to the employee record.

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

3. Identify the correct option regarding the Payroll element details in the compensation history setup.

A) Any payroll element can be added and the input value of the element must be selected. All other details are auto-populated excluding the history category.
B) Any payroll element can be added and the input value of the element must be selected. All other details are auto-populated including the history category.
C) Any payroll element can be added and all other details are auto-populated excluding the history category.
D) Any payroll element can be added and all other details are auto-populated including the history category.

4. A corporation implemented Oracle Fusion Compensation Management. A Salary Basis has been created and attached to the workers and a Compensation cycle has been run. The corporation now wants to use a different Grade rate for the salary basis.
Which option is true?

A) A new Grade rate can be created and the Salary basis can be modified to include it.
B) The salary of an employee is based on the grade to which the employee is assigned. Therefore, nothing has to be changed at the salary basis level once it has been created. Employee data must be modified to reflect the new grade.
C) No new Grade rate can be created.
D) After the salary basis is associated with any worker, you cannot delete it or modify any characteristic. Therefore, a new Salary Basis must be created with a new Grade rate.

5. A corporation implemented Oracle Fusion Compensation Management. A salary bas/s has been created and attached to the employee and a compensation cycle has been run. The corporation wants to include a new component as part of the salary basis.
Which three are predefined components?

A) Equity adjustment to correct salary compression or inversion
B) Regular and automatic adjustment
C) Adjustment due to corrections within the organization
D) Market adjustment due to salary being out of line with the market

Solutions: