Oracle 1z1-495 : Oracle Fusion HCM: Compensation 2014 Essentials

  • Exam Code: 1z1-495
  • Exam Name: Oracle Fusion HCM: Compensation 2014 Essentials
  • Updated: Aug 01, 2026
  • Q & A: 71 Questions and Answers

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Oracle 1z1-495 Exam Syllabus Topics:

SectionObjectives
Salary and Bonus Management- Salary Administration
- Bonus and Incentive Plans
Compensation Workflows and Approvals- Workflow Configuration
- Approval Rules
Compensation Foundations in Oracle Fusion HCM- Role of Compensation in HCM Cloud
- Overview of Compensation Structures
Compensation Setup and Configuration- Salary Basis and Grades
- Manage Compensation Plans
- Eligibility Profiles
Reporting and Analysis- Compensation Reporting
- Analytics in Fusion HCM Compensation

Oracle Fusion HCM: Compensation 2014 Essentials Sample Questions:

1. 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) "Working Storage Area" is not one of the components of Fusion Fast Formula.
B) Compensation default and override formula types default the value of a column of Workforce Compensation Plan.
C) Use Fast Formulas instead of existing application code to obtain non-standard results.
D) Compensation start date and Compensation end date are individual Compensation Plan Formula types.
E) Fast Formulas support the business need when existing rules and parameters are adequate.


2. ABC Company's compensation has an itemized structure. The company wants to increase the Cost of Living allowance of the employees living in the New Jersey area by 3% to compensate for the increased living costs. Which feature of Oracle Fusion Compensation can be used to achieve this?

A) Salary Component
B) Action and Action Reasons
C) Plan Eligibility
D) Budget Pools
E) Plan Access


3. 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) 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.
B) 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
C) 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.
D) 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.
E) 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.


4. While working on a budget sheet or a compensation worksheet, a manager chooses to use the "Export to Excel workbook" option to do his or her work. Which four of the following steps would he or she needto perform upon clicking the "Export to Excel workbook" option and prior to finalizing his or her proposaland submitting it for approval?

A) Repeat the steps as many times as necessary to accommodate the revisions.
B) Download and authenticate workbooks.
C) Filter the edits and upload only the edited fields.
D) Edit the workbook data.
E) Resolve errors created by the uploaded file.
F) Upload filter the workbook to include only employees whose data has been modified in the workbook, prior to uploading the file.


5. Identify the correct option regarding the Payroll element details in the compensation history setup.

A) Any payroll element can be added and all other details are auto-populated excluding the history category.
B) Any payroll element can be added and all other details are auto-populated including the history category.
C) Any payroll element can be added and the input value of the element must be selected. All other details are auto-populated excluding the history category.
D) Any payroll element can be added and the input value of the element must be selected. All other details are auto-populated including the history category.


Solutions:

Question # 1
Answer: A,B,E
Question # 2
Answer: A
Question # 3
Answer: B
Question # 4
Answer: B,C,E,F
Question # 5
Answer: D

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