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Oracle 1z1-495 exam : Oracle Fusion HCM: Compensation 2014 Essentials
- Exam Code: 1z1-495
- Exam Name: Oracle Fusion HCM: Compensation 2014 Essentials
- Updated: Oct 04, 2026
- Q & A: 71 Questions and Answers
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Oracle 1z1-495 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Compensation Basics | - Salary and Compensation Components - Compensation Plan Concepts |
| Topic 2: Plan Configuration | - Budgeting and Worksheets - Eligibility and Profiles |
| Topic 3: Total Compensation Statements | - Statement Definitions |
Oracle Fusion HCM: Compensation 2014 Essentials Sample Questions:
Question #1
You want to use the Workforce Compensation Budget pool for a workforce compensation plan.
Select the task to be performed, in the correct sequence.
a)Configure the workforce compensation budget pool
b)Configure the workforce compensation plan details
c)Run the Start Compensation plan
d)Create at least one worksheet compensation component and associate the budget pool with it.
- A. Create the workforce compensation plan. Configure the workforce compensation budget pool,Configure the workforce compensation plan details, Create at least one worksheet compensation component and associate the budget pool with it, Run the Start Compensation Cycle process.
- B. Create the workforce compensation plan, Configure the workforce compensation plan details. Configure the workforce compensation budget pool, Create at (east one worksheet compensation component and associate the budget pool with it, Run the Start Compensation Cycle process.
- C. Configure the workforce compensation budget pool, Configure the workforce compensation plan details, Run the Start Compensation Cycle process, Create the workforce compensation plan, Create at least one worksheet compensation component and associate the budget pool with it.
- D. Create the workforce compensation plan. Configure the workforce compensation budget pool,Create at least one worksheet compensation component and associate the budget pool with it, Configure the workforce compensation plan details. Run the Start Compensation Cycle process.
- E. Run the Start Compensation Cycle process, Create the workforce compensation plan, Configure the workforce compensation budget pool. Create at least one worksheet compensation component and associate the budget pool with it, Configure the workforce compensation plan details
Correct Answer: E 🗳️
Question #2
A corporation is implementing Oracle Fusion Compensation Management and must set up salary bases. Employees are assigned different grades within the organization and the salaries are dependent on the grades.
What is the correct way to set up the salary bases?
- A. Set up different salary bases for different grades with the same payroll element. The frequency of both salary basis and the grade rate should match.
- B. Set up different salary bases for different grades and different payroll elements, because the payroll element can be attached to only one salary basis. The frequency of both salary basis and grade rate need not match.
- C. Set up different salary bases for different grades and different payroll elements, because the payroll element can be attached to only one salary basis. The frequency of both salary basis and grade rate should match.
- D. Set up different salary bases for different grades with the same payroll element. The frequency
of both salary basis and grade rate need not match.
Correct Answer: D 🗳️
Question #3
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. Compensation default and override formula types default the value of a column of Workforce Compensation Plan.
- B. Compensation start date and Compensation end date are individual Compensation Plan Formula types.
- C. "Working Storage Area" is not one of the components of Fusion Fast Formula.
- D. Fast Formulas support the business need when existing rules and parameters are adequate.
- E. Use Fast Formulas instead of existing application code to obtain non-standard results.
Correct Answer: A,C,D 🗳️
Question #4
A corporation is implementing Oracle Fusion Compensation Management and has set up an Individual Compensation plan for contribution towards a retirement benefit. This contribution must be approved by the four-level manager hierarchy.
Identify all the four builders that support a restriction for the number of levels.
- A. Management Chain
- B. Position
- C. Resource
- D. Supervisory
- E. Job level
- F. Department Level
Correct Answer: C,D,E,F 🗳️
Question #5
Your client's organization is a multi-country organization with headquarters in the US. All employees are covered under global compensation plan. However, the managers in each country wants to administer compensation in their country's respective currency. How would you enable this feature?
- A. Set the preferred currency in the worksheet
- B. Display the corporate currency
- C. Enable currency switching
- D. Use fast formula to display the employee currency using conversion rates
Correct Answer: C 🗳️
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