Exam Name: Oracle Financials Cloud: Receivables 2019 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Updated: Sep 19, 2026
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Oracle 1Z1-1056 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: Receivables 2019 Implementation Essentials |
| Exam Number: | 1Z0-1056 |
| Exam Price: | USD 245 |
| Available Languages: | English |
| Related Certifications: | Oracle Financials Cloud Receivables 2019 Certified Implementation Specialist |
| Real Exam Qty: | 60 |
| Passing Score: | 62% |
| Exam Duration: | 120 minutes |
| Exam Format: | Multiple Choice |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Pearson VUE testing center or Oracle online proctored exam delivery. |
| Pre Condition: | Oracle recommends knowledge of Oracle Financials Cloud and implementation experience. No mandatory prerequisite exam required. |
| Official Syllabus URL: | https://education.oracle.com/oracle-financials-cloud-receivables-2019-implementation-essentials/pexam_1Z0-1056 |
Oracle 1Z1-1056 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Receivables Configuration | 30% | - Implement receivables setup
|
| Enterprise Structure and Financial Setup | 10% | - Configure enterprise structures
|
| Receipts and Collections | 20% | - Manage receipt lifecycle
|
| Transactions Processing | 20% | - Manage receivables transactions
|
| Period Close and Reporting | 20% | - Perform close and reporting activities
|
FAQs for Oracle Financials Cloud: Receivables 2019 Implementation Essentials Candidates
The 1Z1-1056 exam leads to the Oracle Financials Cloud certification from Oracle. It is positioned at the Professional level. The exam validates the knowledge and skills expected of candidates preparing for Oracle Financials Cloud: Receivables 2019 Implementation Essentials.
Related certifications include:
- Oracle Financials Cloud Receivables 2019 Certified Implementation Specialist
The 1Z1-1056 exam includes 60 questions and allows 120 minutes. Before test day, divide the available time by the number of questions in a timed practice set to establish a steady per-question pace. If a difficult item starts consuming too much time, mark it for review and move forward instead of losing momentum. A full timed practice session can help you decide when to move on, when to return, and how much buffer to reserve for a final check.
The passing score for 1Z1-1056 is 62%, and the official exam fee is USD 245. Because a retake requires paying the exam fee again, use timed practice results as a readiness check before scheduling your next attempt. If your performance remains inconsistent, continue reviewing weak domains and repeat a timed session before booking the exam.
Oracle recommends knowledge of Oracle Financials Cloud and implementation experience. No mandatory prerequisite exam required.
Eligibility rules can change, so confirm the current requirements on the official exam page before registering.
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The current 1Z1-1056 outline is organized into 5 top-level domains. The first listed areas include:
- Receipts and Collections (20%)
- Receivables Configuration (30%)
- Transactions Processing (20%)
Review the Exam Topics section above for the complete outline and any nested subtopics.
Oracle Financials Cloud: Receivables 2019 Implementation Essentials Sample Questions:
Which configuration step is required for processing Collections disputes?
- A. Define Dispute Thresholds in Collections Preferences.
- B. Define a "Collections" Approval Group as well as a "Billing" Approval Group in the BMP Worklist.
- C. Define Aging Method to be used with disputed transactions.
- D. Set "Send Dispute Notice" Option to "Yes" in Collections Preferences.
Correct Answer: A 🗳️
Your customer wants to override the calculated tax line amount for their receivable transaction.
What steps should the customer perform to ensure that only one of their employees has this privilege?
- A. Enable the "Allow tax rate override" and "Allow manual tax lines" profiles at the user level, set, the value to Yes for the selected employee, and grant the "Tax Manager <Business Unit>" data role to the employee.
- B. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable application and create a tax rule to grant this privilege only to the selected employee.
- C. Set the "Transaction Tax Line Override" profile option to Yes for the selected employee and assign the employee the "Tax Manager <Business Unit>" data role.
- D. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and grant the employee the "Tax Manager <Business Unit>" data role.
- E. Enable "Allow override of calculated tax lines" within the tax configuration owner options for the receivable invoice event and set the "Transaction Tax Line Override" profile option to Yes for the selected employee.
Correct Answer: C 🗳️
Your company wants to generate Intercompany transactions only if the amount Involved is equal to or greater than $3,000 USD.
How should you configure Intercompany System Option*; to meet this requirement?
- A. Set "Minimum Transaction Amount" to 3,000 and "Minimum entered Currency" to USD.
- B. Set "Minimum Invoice Amount" to 3,000 and "Invoice Currency" to USD in Payables Invoice Options and Receivables System Options.
- C. Set "Minimum Transaction Amount" to 2,999.99 and "Minimum Entered Currency" to ALL
- D. Define intercompany approval rule, to automatically reject intercompany transactions that do not meet the minimum amount requirement.
Correct Answer: B 🗳️
Which two statements are true regarding the Promise to Pay feature in the Collections application?
- A. You cannot cancel a promise made in error if it is before the promise due date.
- B. Mass promise to pay amounts automatically become partial payments.
- C. Promise information is updated by scheduling the Promise Reconciliation process.
- D. You can cancel a promise made in error if it is before the promise due date.
Correct Answer: B 🗳️
You have created payment terms in a system and associated them in the USA reference data set. All the payment terms in the system are shown as follows. Business Unit X has a set assignment of Enterprise Set for payment terms.
Payment Term = Net 30; Reference Data Set = Enterprise Set
Payment Term = Net 45; Reference Data Set = Enterprise Set
Payment Term = 1%/10 Net 30; Reference Data Set = USA Set
Payment Term = Net 45; Reference Data Set = USA Set
If an invoice is created in Business Unit X, which payment term set is available for use in a transaction?
- A. Net 30 (Enterprise Set), Net 45 (Enterprise Set)
- B. Net 30 (Enterprise Set), Net 45 (USA Set)
- C. Net 45 (Enterprise Set), Net 45 (USA Set)
- D. 1%/10 Net 30 (USA Set), Net 45 (USA Set)
Correct Answer: A 🗳️
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