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Oracle 1Z0-1053-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Reporting and Maintenance | - Benefits reporting and analytics
|
| Security and Administration | - Role-based access and security model
|
| Fast Formulas and Calculations | - Benefits Fast Formulas usage
|
| Benefits Cloud Overview | - Architecture and key concepts of Oracle Benefits Cloud
|
| Payroll and Financial Integration | - Integration with payroll systems
|
| Eligibility and Profiles | - Eligibility Profiles setup and usage
|
| Enrollment and Life Events | - Life event processing
|
| Plan and Program Configuration | - Benefit programs and plan design
|
Preparing for 1Z0-1053-21 with GuideTorrent: What to Know
- Fast Formulas and Calculations ()
- Eligibility and Profiles ()
- Security and Administration ()
Oracle Benefits Cloud 2021 Implementation Essentials Sample Questions:
XX Lifeinsurance plan has two options: Option 1 enrolls a dependent of age 21 or above and Option 2 enrolls a dependent aged 18 or less.
How do you define a benefit configuration for these two options?
- A. Create one derived factor. Create an eligibility profile and configure the derived factor under the eligibility profile. Then attach the eligibility profile to XX Life Insurance plan at Option 1, and then attach the same eligibility profile at Option 2.
- B. Create two derived factors, one with age as 21 or above and a second with age 18 or less. Create an eligibility profile and configure these two derived factors under the eligibility profile. Then attach the eligibility profile to XX Life Insurance Plan
- C. Create one derived factor. Create an eligibility profileand configure the derived factor under the eligibility profile. Then attach the eligibility profile to XX Life Insurance Plan.
- D. Create two eligibility profiles. One with age as 21 or above and a second with age 18 or less. Then attach these eligibility profiles to XX Life Insurance Plan.
Correct Answer: D 🗳️
A plan is created for a calendar year from January 1, 2017 and ends on December 31, 2017. The company wants to create an event on the occurrence of life event date.
What will be the life event start date?
- A. as of enrollment start date
- B. as of event start date
- C. as of rate start date
- D. as of coverage start date
Correct Answer: B 🗳️
You are a benefits consultant implementing for a company that offers a life Insurance plan for employees with only one option -Employee Plus Family. The rate for this option is dependent on various factor5 like age/smoking status/gender:
A female employee in the under 40 age group, who is a smoker, wants to purchase $100,000 of life insurance.
The plan would be 2.1 (100,000 * 0.21/1000), considering 5100,000 is the coverage she opts for. The calculation is -> {Coverage* [{Rate applied as per gender/smoking status/ aqe)/1000l).
How can you configure a rate for the company's plan?
- A. Configure a primary rate with the calculation method as Multiple of Coverage.
- B. Configure a secondary rate with the calculation method as Multiple of Coverage.
- C. Configure a fast formula calling this table. Configure a secondary standard rate with the calculation method as Formula. Then create another standard rate with type and the calculation method aS Multiple of Parent.
- D. Configure an eligibility profile with age-derived factors. Attach it to the plan. Then create a standard fate with the calculation method as Multiple of Coverage.
Correct Answer: A 🗳️
A medical plan (not in program) has the Defined Rate frequency set as Monthly and the Communicated Rate frequency set as Per Pay Period. The pay period is defined as bi-weekly.
The rate has been defined with the calculation method as Flat Amount = 65. The currency defined at the plan is U.S.D. There are 26 payroll periods in the plan's year period.
What is the communicated rate value?
- A. 32.5
- B. 130
- C. 40
- D. 30
Correct Answer: D 🗳️
Yourcustomer does NOT want the system to detect temporal events whenever a marriage life event is detected and processed by the application.
How do you accomplish this requirement?
- A. On the life event creation page, select "Do not detect future temporal events" as the Temporal DetectionRule.
- B. On the life event creation page, select "Do not detect past temporal events"as the Temporal Detection Rule.
- C. On the life event creation page, select "Never detect Past or future temporal events" as the Temporal Detection Rule.
- D. On the life event creation page, select "Never detect this temporal life event" as the Temporal Detection Rule.
- E. On the life event creation page, select "Do not detect past or future temporal events" as the Temporal Detection Rule.
Correct Answer: A 🗳️
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