Certification exams change, and study material that was current last year can quietly go stale. ActualCollection updates its 112 Oracle Financials Cloud: Receivables 2020 Implementation Essentials practice questions continuously, and your purchase includes 365 days of free updates through 2026 and beyond.
Oracle 1Z0-1056-20 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: Receivables 2020 Implementation Essentials |
| Exam Number: | 1Z0-1056-20 |
| Exam Format: | Multiple Choice, Multiple Select |
| Passing Score: | 64% |
| Real Exam Qty: | 55 - 60 |
| Exam Duration: | 90 minutes |
| Available Languages: | Japanese, English |
| Exam Price: | USD $245 |
| Certificate Validity Period: | Indefinite |
| Related Certifications: | Oracle Financials Cloud: Receivables and Collections Implementation Professional |
| Recommended Training: | Oracle Financials Cloud Learning Subscription Oracle Financials Cloud: Receivables 2020 Implementation Training |
| Exam Registration: | Oracle University Exam Page Pearson VUE Registration |
| Sample Questions: |  |
| Exam Way: | Online proctored or onsite at Pearson VUE test centers |
| Pre Condition: | No mandatory prerequisites; hands-on implementation experience recommended |
| Official Syllabus URL: | https://education.oracle.com/oracle-financials-cloud-receivables-2020-implementation-essentials/pexam_1Z0-1056-20 |
Oracle 1Z0-1056-20 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Collections & Credit Management | 20% | - Adjustments & Write-Offs
|
| Topic 2: Receivables Foundation & Setup | 25% | - Rapid Implementation Configuration
|
| Topic 3: Reporting & Period Close | 10% | - Period End Procedures
|
| Topic 4: Receipts & Cash Management | 25% | - Receipt Processing
|
| Topic 5: Transactions & Billing | 20% | - Billing Processing
|
Answers Every 1Z0-1056-20 Candidate Should Read First
The Oracle Financials Cloud: Receivables 2020 Implementation Essentials exam is the official Oracle test registered under exam code 1Z0-1056-20. Passing it earns you the Oracle Financials Cloud: Receivables 2020 Certified Implementation Specialist certification, a credential at the Specialist level. It is also linked to the related certification: Oracle Financials Cloud: Receivables and Collections Implementation Professional. Oracle exams are valued because they test job-ready skills, so a passing score here carries real weight on a resume.
The Oracle Financials Cloud: Receivables 2020 Implementation Essentials exam includes 55 - 60 questions to be completed within 90 minutes. Do the pacing math before exam day: with that many items on the clock, you need a steady rhythm and the discipline to flag a hard question and move on instead of stalling. Two or three full timed sessions with the ActualCollection test engine will show you exactly what that pace feels like, so time pressure stops being a factor on the real day.
To pass the Oracle Financials Cloud: Receivables 2020 Implementation Essentials exam you need 64%, and the official registration fee is USD $245. A retake is not discounted: a failed attempt means paying the full USD $245 again, so treat your first sitting as the expensive one. A sensible rule is to book your seat only after you are scoring comfortably above the passing mark on the ActualCollection practice tests, not just squeaking past it once.
No mandatory prerequisites; hands-on implementation experience recommended
Eligibility rules do change from time to time, so confirm the current requirements before you register on the official exam page.
Registration for the Oracle Financials Cloud: Receivables 2020 Implementation Essentials exam goes through the official channels below.
As for the delivery format, the exam is taken Online proctored or onsite at Pearson VUE test centers.
Oracle points candidates toward the following training options for Oracle Financials Cloud: Receivables 2020 Implementation Essentials.
- Oracle Financials Cloud: Receivables 2020 Implementation Training
- Oracle Financials Cloud Learning Subscription
Course work builds the foundation; question practice makes it stick. The 112 practice questions in the ActualCollection 1Z0-1056-20 package let you rehearse each topic under exam-style pressure before the real thing.
Yes. ActualCollection offers a free PDF demo of the Oracle Financials Cloud: Receivables 2020 Implementation Essentials material so you can judge the question quality and format before spending anything. After purchase, your license includes 365 days of free updates, and if you want to keep receiving updates after that period, renewals are available at a 50% discount.
If you take the Oracle Financials Cloud: Receivables 2020 Implementation Essentials exam within 60 days of your purchase and do not pass, ActualCollection backs you with a 100% money-back guarantee. The claim must match the exam your product covers: attempts taken within 3 days of purchase are not eligible (that is too little preparation time), and neither are downloaded-but-unused products, free materials, or expired orders. The candidate name must match the payer name, and you need to submit a scanned enrollment slip plus the official Score Report PDF within 2 days of the exam; claims are processed within 7 days. Prefer not to refund? You can swap instead and receive two other exam products of equal value for free while keeping the update service on your original purchase.
Delivery itself is instant: your files are downloadable right away and emailed to you within one minute of payment. If nothing arrives within 2 hours, contact customer service. There is no limit on how many computers you may install the software on.
The official Oracle Financials Cloud: Receivables 2020 Implementation Essentials syllabus is organized into 5 domains. Key areas include Reporting & Period Close (10%), Receivables Foundation & Setup (25%), and Collections & Credit Management (20%). The complete, up-to-date topic list appears in the exam topics section above; work through it line by line and flag anything you cannot yet explain in your own words.
Oracle Financials Cloud: Receivables 2020 Implementation Essentials Sample Questions:
Question 1
Which information does the collector see after clicking on the Activities Infotile in the Collections Work Area?
A. List of broken payment promises.
B. List of delinquent customers.
C. Summary of aged transactions.
D. Tasks assigned to the collector such as follow-up calls.
Question 2
Your customer has three business units. The customer wants to share customer account addresses across these business units.
Which reference data set can be used to achieve this?
A. Create a separate reference data set for each business unit and assign it to each unit.
B. Assign a COMMON reference data set to the business units, which share the account addresses.
C. Assign an enterprise reference data set to the business units, which share the account addresses.
D. Create a new reference data set for account addresses and assign it to the business units.
Question 3
What is the order used to group transaction lines during the AutoInvoice Import process?
A. Transaction Source, Customer Site Profile, Customer Account Profile, system options
B. Transaction Source, Customer Account Profile, system options, Customer Site Profile
C. System options, Customer Site Profile, Transaction Source, Customer Account Profile
D. Transaction Source, Customer Account Profile, Customer Site Profile, system options
Question 4
You have created two transactions with a 30-day payment term. The first transaction is on January 29,
2015 and the second transaction is on January 31, 2015. The invoice date is the same as the system date. Both transactions are assigned an unsigned receipt method that has the lead days set to 60, number of bills receivable rule set to one per customer, and the bills receivable maturity date rule set to latest.
Which statement is true when the create bills receivable batch is processed for a customer on January
31, 2015?
A. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February
28, 2015.
B. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1,
2015.
C. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March
30, 2015.
D. Two Bills Receivable transactions are created with the issue date and accounting date as January 29,
2015 and January 31, 2015, respectively.
E. Two Bills Receivable transactions are created with the issue dates as January 29, 2015 and January 31,
2015.
F. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2,
2015.
Question 5
Your client's legacy system uses a hierarchical parent/child relationship to organize customer information because a single customer may have more than one bank account or payment method.
Does this prevent you from using the Oracle Fusion Trading Community Model Data Import program?
A. The program allows the use of parent, child, and grandchild table hierarchies, but it requires multiple Customer Master records for each customer within the hierarchy.
B. The use of parent, child, and grandchild table hierarchies is allowed only in Accounts Payable, not Accounts Receivable.
C. The program allows table hierarchies for customer bank accounts, but not for other customer information.
D. Yes; the program specifically prohibits parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
E. No; the program contains parent, child, and grandchild table hierarchies to represent the hierarchy of data in the customer information.
Solutions:
| Question 1 Answer: D | Question 2 Answer: B | Question 3 Answer: A | Question 4 Answer: B | Question 5 Answer: D |
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