Oracle 1Z0-1054 Financials GL Pro Practice Exam
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Oracle 1Z0-1054 Oracle Financials Cloud: General Ledger 2022 Implementation Professional
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Start NowAbout the Oracle 1Z0-1054 Financials GL Pro Certification
The Oracle 1Z0-1054 Financials GL Pro certification is designed for professionals who implement general ledger setups, manage journal entries, and support financial reporting. As technology evolves and industry demands grow more complex; this credential validates your ability to apply real-world skills and knowledge using Oracle tools and frameworks. Earning the certification positions you as a trusted expert, capable of solving high-impact challenges and contributing to secure, scalable, and efficient systems.
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Test Your Knowledge of Oracle 1Z0-1054 Financials GL Pro
Question #1
A financial analyst is setting up a new ledger for a multinational company.
Which configuration enables currency conversion across entities?
A) Ledger Set
B) Conversion Rate Type
C) Primary Ledger
D) Accounting Calendar
Solution
Correct answers: B – Explanation:
Conversion Rate Type defines how currencies are translated. Ledger Set groups ledgers, Primary Ledger is the base, Calendar defines periods.
Question #2
An implementer needs to define the fiscal year structure.
Which component supports this?
A) Accounting Calendar
B) Period Set
C) Ledger Options
D) Fiscal Template
Solution
Correct answers: A – Explanation:
Accounting Calendar defines fiscal structure. Period Set is used within it, Ledger Options are broader, Fiscal Template is not standard.
Question #3
A user wants to restrict journal entries to specific accounts.
Which feature enforces this?
A) Cross-Validation Rules
B) Segment Value Security
C) Journal Approval
D) Account Masking
Solution
Correct answers: A – Explanation:
Cross-Validation Rules prevent invalid combinations. Segment Security restricts visibility, Approval is for workflow, Masking is not standard.
Question #4
An accountant needs to reverse a journal entry.
Which tool supports this action?
A) Journal Reversal
B) Correction Entry
C) Void Journal
D) Reverse Posting
Solution
Correct answers: A – Explanation:
Journal Reversal automates reversal logic. Correction Entry is manual, Void and Reverse Posting are not standard Oracle terms.
Question #5
A user wants to automate recurring journal entries.
Which feature enables this?
A) Journal Template
B) Recurring Journal
C) AutoPost
D) Schedule Entry
Solution
Correct answers: B – Explanation:
Recurring Journal automates periodic entries. Template is for structure, AutoPost is for posting, Schedule Entry is not standard.
Question #6
An implementer needs to consolidate financial data across ledgers.
Which configuration supports this?
A) Ledger Set
B) Consolidation Mapping
C) Reporting Currency
D) Intercompany Setup
Solution
Correct answers: A – Explanation:
Ledger Set allows reporting across ledgers. Consolidation Mapping is for rules, Reporting Currency is for translation, Intercompany is for transactions.
Question #7
A user wants to view account balances by segment.
Which report provides this?
A) Trial Balance
B) Segment Value Report
C) Account Analysis
D) Accounting Calendar
Solution
Correct answers: B – Explanation:
Segment Value Report breaks down balances by segment. Trial Balance is broader, Analysis is detailed, Balance Sheet is summary.
Question #8
An accountant needs to post journals automatically.
Which process supports this?
A) AutoPost
B) Journal Approval
C) Scheduled Posting
D) Batch Entry
Solution
Correct answers: B – Explanation:
Conversion Rate Type defines how currencies are translated. Ledger Set groups ledgers, Primary Ledger is the base, Calendar defines periods.
Question #9
A user wants to validate journal entries before posting.
Which feature supports this?
A) Journal Validation
B) Approval Workflow
C) Validation Set
D) Post Check
Solution
Correct answers: C – Explanation:
Validation Set defines rules for entry validation. Journal Validation is not a standard term, Approval is for workflow, Post Check is not standard.
Question #10
An implementer needs to define account hierarchies.
Which tool supports this?
A) Tree Structure
B) Segment Hierarchy
C) Chart of Accounts
D) Account Grouping
Solution
Correct answers: A – Explanation:
Tree Structure defines hierarchies. Segment Hierarchy is part of it, Chart of Accounts is broader, Grouping is not standard.
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