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Reliable 1Z0-1050-24 Test Dumps | Real 1Z0-1050-24 Exam

Passing an Oracle Payroll Cloud 2024 Implementation Professional exam on the first attempt can be stressful, but Oracle 1Z0-1050-24 exam questions can help manage stress and allow you to perform at your best. We at ActualtestPDF give you the techniques and resources to make sure you get the most out of your exam study. We provide preparation material for the Oracle Payroll Cloud 2024 Implementation Professional exam that will guide you when you sit to study for it. 1Z0-1050-24 updated questions give you enough confidence to sit for the Oracle exam.

Oracle 1Z0-1050-24 Exam Syllabus Topics:

Topic
Details

Topic 1

Maintaining Payroll Flows: This section is designed for Payroll Managers and focuses on maintaining and submitting payroll flows. It ensures that payroll processes are executed smoothly and efficiently, from data entry to final payroll submission. This section is critical for ensuring timely and accurate payroll processing.

Topic 2

Configuring Payroll Payment Details: This section is designed for Payroll Administrators and focuses on setting up payment details for employees and third parties. It includes adding company payment details, configuring payslip reports, and ensuring accurate payment processing. These tasks are essential for delivering accurate and timely payments to employees and external entities.

Topic 3

Calculating, Validating, and Correcting Payroll Processes: This section evaluates the skills of Payroll Auditors in calculating, verifying, and correcting payroll processes. It includes confirming the status of payroll flows, verifying costing results, and reconciling payroll data. These tasks are essential for ensuring payroll accuracy and compliance with organizational and legal standards.

Topic 4

Configuring Payroll and Balance Definitions: This section evaluates the expertise of Payroll Analysts in setting up and managing payroll definitions and balance definitions. It includes configuring payroll definitions, editing payment dates, and ensuring accurate balance calculations. These tasks are critical for maintaining payroll accuracy and compliance with organizational and legal requirements.

Topic 5

Defining Earnings and Deductions: This section measures the skills of Compensation Analysts in creating and managing earnings and deduction elements. It covers the behavior of elements, creating element entry business rules, and configuring absence elements. Additionally, it includes adding eligibility rules for elements and creating rules for retroactive changes, ensuring accurate and timely payroll processing.

Topic 6

Describing Payroll Concepts: This section of the exam measures the skills of Payroll Specialists and covers foundational payroll concepts, including human resources and payroll person models. It also explains legislative data groups and payroll statutory units, which are essential for managing compliance and organizational structures. Additionally, this section includes creating payroll users and roles to ensure proper access and security within the payroll system.

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Oracle Payroll Cloud 2024 Implementation Professional Sample Questions (Q66-Q71):

NEW QUESTION # 66
You want to define your own rules for converting a rate value from one periodicity to another, such as from weekly to annual. How can you achieve this?

A. Create an additional input value, calculate the converted value outside the system, and enter it while creating an element entry.
B. Define an indirect element, write a fast formula to convert the processed value and create the result for an indirect element.
C. Define your own Periodicity Conversion Rule and select it while creating the element.
D. You cannot define your own rules for converting from one periodicity to another.

Answer: C

Explanation:
In Oracle Payroll Cloud, to customize rate conversions (e.g., weekly to annual), you can define a Periodicity Conversion Rule and select it during element creation (Option D). This feature allows you to specify custom conversion factors (e.g., multiplying a weekly rate by 52 for an annual rate) and apply them to the element's rate calculations. Option A (manual calculation) is inefficient and error-prone. Option B (indirect element with formula) is a workaround but not the intended method for periodicity conversion. Option C is incorrect, as Oracle explicitly supports custom conversion rules. Documentation confirms this functionality within element setup.

NEW QUESTION # 67
A court has issued an order for deductions to be taken from a worker's salary and paid to an ex-spouse. The court order includes instructions for the company to make payments directly to the ex-spouse and has included their bank details.
How should you enter these details into the application?

A. Enter the bank details on personal payment methods page.
B. Enter the bank details on the manage third-party person payment methods page.
C. This requirement cannot be met in cloud payroll; all such payments should be sent to the court.
D. Enter the bank details on a third-party organization page.

Answer: B

NEW QUESTION # 68
You hire an employee on 01-JAN-2016. The employee is in the process of moving bank accounts and is yet to create a personal payment method. How will the employee receive their payroll payment for the month of January?

A. They won't receive payment until they have created a personal payment method.
B. A cash payment request will be sent to accounts payable, and the employee will be paid in cash.
C. The payment process will error and they will not receive payment for the month of January.
D. They will be paid by check, because this is the default payment method on the employee's payroll.

Answer: D

NEW QUESTION # 69
When defining your customer's monthly payroll, they ask you to set the cut-off date for their monthly payroll to five days before the period end date.
What is the impact of the cut-off date on payroll processing?

A. The application restricts Payroll users from entering data after the payroll cut-off date.
B. The application restricts HR users from entering data after the payroll cut-off date.
C. The cut-off date triggers the automatic submission of the payroll calculation
D. The cut-off date is for informational purposes only.

Answer: D

NEW QUESTION # 70
Which statement accurately describes how you create a tax reporting unit?

A. You can identify a legal entity as a tax reporting unit.
B. If you identify a legal entity as a payroll statutory unit, you will have the option to identify the payroll statutory unit as a tax reporting unit.
C. When you identify a legal entity as a legal employer, the application transfers the legal reporting units that are associated with that legal employer to HCM as tax reporting units.
D. When you identify a legal entity as a payroll statutory unit, the application transfers the legal reporting units that are associated with that legal entity to HCM as tax reporting units.

Answer: D

Explanation:
In Oracle Payroll Cloud, a tax reporting unit (TRU) is created as part of the payroll statutory unit (PSU) setup. When a legal entity is identified as a PSU, the application automatically transfers its associated legal reporting units (LRUs) to HCM as TRUs (Option A). This ensures tax reporting aligns with the legislative requirements of the PSU. Option B is incorrect, as there's no optional step to designate the PSU as a TRU-it's automatic. Option C (directly identifying a legal entity as a TRU) bypasses the PSU linkage, which is not supported. Option D (legal employer) is inaccurate, as TRUs are tied to PSUs, not legal employers. Oracle documentation confirms this automatic transfer process.

NEW QUESTION # 71
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