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Oracle 1Z0-1056-21 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Collections and Credit Management | 10% | - Collections Activities
|
| Topic 2: Reporting and Period Close | 11% | - Reporting and Accounting
|
| Topic 3: Processing Receipts | 18% | - Receipt Lifecycle
|
| Topic 4: Managing Customers | 16% | - Customer Data Management
|
| Topic 5: Managing Transactions | 20% | - Transaction Processing
|
| Topic 6: Implementing Receivables | 25% | - Receivables Configuration
|
1Z0-1056-21 Exam FAQ: Safe, Unlimited, Always Current
Three versions of the same study materials: a printable, expert-prepared PDF with free demo download and instant access; a Desktop Test Engine for Windows with customizable simulation and timed modes that works offline; and an Online Test Engine for any browser on Windows, Mac, Android, and iOS with test history and performance review. All 156 practice questions are identical across versions. Every purchase includes 365 days of free updates, a 50% renewal discount afterward, and unlimited computer installations.
The Oracle Financials Cloud: Receivables 2021 Implementation Essentials exam requires 60% to pass, and registration costs USD 245. A failed attempt means paying the same fee again — a readiness check with the ValidVCE engines before booking is the cheaper option.
The 1Z0-1056-21 exam is a Oracle certification exam validating the Oracle Financials Cloud: Receivables 2021 Implementation Essentials syllabus shown above. It belongs to these credential paths: Oracle Financials Cloud Certification, Oracle Cloud ERP Financials Implementation Certifications. Candidates in 2026 start with ValidVCE's 156 practice questions, available as a printable PDF, a Windows Desktop Test Engine, and an Online Test Engine — three versions of the same materials.
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The official Oracle Financials Cloud: Receivables 2021 Implementation Essentials outline defines 6 domains. The leading three are Managing Transactions (20%), Processing Receipts (18%), and Collections and Credit Management (10%). The full list is in the topics section above, and ValidVCE's 156 practice questions cover each one.
No mandatory prerequisite exam. Oracle recommends experience with Oracle Financials Cloud Receivables implementation and business processes. Since requirements change over time, confirm the latest on the official Oracle exam page before scheduling.
The Oracle Financials Cloud: Receivables 2021 Implementation Essentials exam contains 55 to complete within 120 minutes. Timed simulation in the ValidVCE Desktop Test Engine teaches that rhythm before exam day does.
Oracle recommends these training resources for the Oracle Financials Cloud: Receivables 2021 Implementation Essentials exam:
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Online proctored exam through Oracle Certification Program or at authorized Pearson VUE testing centers. Register for the Oracle Financials Cloud: Receivables 2021 Implementation Essentials exam through these official channels:
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Oracle Financials Cloud: Receivables 2021 Implementation Essentials Sample Questions:
As a Billing Manager you are responsible for reviewing adjustments and approving them. Which action is not available in the "Approve Adjustments" page?
- A. Approve
- B. Request Information
- C. Reject
- D. Edit
- E. Reassign
Correct Answer: E 🗳️
Which two statements are true about configuring Collection Strategies?
- A. You need to define an Aging Method that meets the requirements of your organization.
- B. You need to create Scoring Formulae (or use predefined Scoring Formulas).
- C. You need to SGI the (Collections Method to Strategies for the relevant business unit.
- D. You need to create Strategy Tasks of the type "Automatic" only.
Correct Answer: B,D 🗳️
You created an Auto cash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice. Discount = Earned Only, Late charges = NO, Receipt = $900, Receipt date = 14-Feb-2020, Discount Grace Days = 5.
Which transaction will be applied to the receipt?
- A. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 20-Feb-2020
- B. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 28-Feb 2020
- C. Invoice Amount: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 28-Feb-2020
- D. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 24-Feb-2020
Correct Answer: A 🗳️
If the Contract Identification Rules that you defined for your customer did not group the source data into customer contracts as expected, how would you resolve the issue?
- A. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher-priority Contract Identification Rule, and run the Identify Customer Contracts program again.
- B. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts UI.
- C. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.
- D. Delete the source data that was imported into Revenue Management and import new source data.
- E. Delete Contracts from the Manage Customer Contracts UI.
Correct Answer: A 🗳️
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Which statement is true about Balance Forward Billing?
- A. Transactions included on a Balance Forward Bill can be updated.
- B. Balance Forward Bills must be enabled at each bill-to-site level.
- C. The Balance Forward Bill of a previous cycle need not be generated as Final to generate the Balance Forward Bill of the current cycle.
- D. Balance Forward Bills can be created for a future date.
Correct Answer: B 🗳️
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