Exam Name: Oracle Financials Cloud: Receivables 2024 Implementation Professional
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Oracle 1Z0-1056-24 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: Receivables 2024 Implementation Professional |
| Exam Number: | 1Z0-1056-24 |
| Exam Price: | USD 245 (varies by country) |
| Exam Format: | Multiple Choice, Multiple Response |
| Exam Duration: | 90 minutes |
| Related Certifications: | Oracle Fusion Cloud Financials Implementation certifications Oracle Financials Cloud certifications |
| Real Exam Qty: | 70 (approx.) |
| Available Languages: | English |
| Passing Score: | 75% |
| Certificate Validity Period: | Typically 1 year (Oracle certification validity policy varies by release) |
| Recommended Training: | Oracle Financials Cloud Training Oracle Learning Explorer |
| Exam Registration: | Oracle Exam Scheduling (Pearson VUE / Oracle system depending on region) Oracle Certification Registration |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Online proctored exam (Oracle Testing Center / remote proctoring) |
| Pre Condition: | No strict prerequisites, but Oracle recommends familiarity with Fusion Financials and Accounts Receivable concepts. |
| Official Syllabus URL: | https://education.oracle.com |
Oracle 1Z0-1056-24 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Receivables Configuration | - System Setup
|
| Collections and Billing Extensions | - Advanced Receivables Functions
|
| Processing Customer Payments | - Receipt Management
|
| Managing Customer Billing | - Transaction Processing
|
| Customer and Account Configuration | - Customer Setup
|
Your Oracle Financials Cloud: Receivables 2024 Implementation Professional Questions, Answered Clearly
The 1Z0-1056-24 exam — officially the Oracle Financials Cloud: Receivables 2024 Implementation Professional — is Oracle's certification exam for professionals who work with its technologies, and passing it awards the Oracle Financials Cloud: Receivables 2024 Implementation Professional certification at the Professional level. Vendor-issued credentials like this one remain among the clearest signals of skill a resume can carry. It also connects naturally to Oracle Financials Cloud certifications, Oracle Fusion Cloud Financials Implementation certifications as a next step.
Yes — TestKingIT offers a free PDF demo of the 1Z0-1056-24 practice questions so you can inspect the question quality and verified answers before paying anything. Once you purchase, 365 days of free updates are included, and if the product expires, the update service renews at a 50% discount from your member zone.
Passing the 1Z0-1056-24 exam requires 75%, and the official registration fee is USD 245 (varies by country). That fee buys a single attempt — a retake is charged at full price again. The smart sequence is to rehearse first: cycle through 144 practice questions at TestKingIT under timed conditions until your scores clear the passing mark with margin, then book.
The Oracle Financials Cloud: Receivables 2024 Implementation Professional blueprint comprises 5 domains, led by Collections and Billing Extensions, Processing Customer Payments, and Customer and Account Configuration. The complete weighted syllabus is in the section above — accurate preparation starts with knowing exactly what the exam weights most.
Oracle recommends the following training for the Oracle Financials Cloud: Receivables 2024 Implementation Professional:
Courses build understanding; carefully compiled practice builds accuracy under pressure. Combine either resource above with 144 practice questions from TestKingIT and your preparation covers both.
No strict prerequisites, but Oracle recommends familiarity with Fusion Financials and Accounts Receivable concepts.
Vendor criteria evolve, so before you schedule anything, verify the latest requirements on the official Oracle exam page.
Registration for the Oracle Financials Cloud: Receivables 2024 Implementation Professional runs through these official channels:
- Oracle Certification Registration
- Oracle Exam Scheduling (Pearson VUE / Oracle system depending on region)
Worth noting when you book: the 1Z0-1056-24 exam is delivered Online proctored exam (Oracle Testing Center / remote proctoring).
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Expect 70 (approx.) questions inside 90 minutes on the 1Z0-1056-24 exam. The clock is the quiet examiner: knowing the content is not enough if pacing fails you. Rehearse with the TestKingIT Windows software or online engine in timed mode — the smooth, stable interface means nothing technical distracts you while you build your rhythm.
Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:
When entering the Customer import upload spreadsheet, which two columns, if populated with *NULL will remove the existing values on loading?
- A. Order line Credit Limit
- B. Credit Review Cycle
- C. First Review Date
- D. Credit Limit
Correct Answer: B,C 🗳️
Explanation: Only visible for TestKingIT members. You can sign-up / login (it's free).
Manage Balance Forward Billing Cycles and Payment Terms
Scenario
You are a consultant for a client who is implementing the Balance Forward Billing feature in Oracle Financials Cloud. You have been asked to define Balance Forward Billing Cycle as well as Balance Forward Billing Payment Terms so that your client can generate consolidated bills.
Task:
Define Balance Forward Payment Terms, where:
Name of the payment term is XXNet 30 (Replace XX with 03, which is your allocated user ID.) Payment terms are accessible to all business units Discounts are applicable to the full invoice amount Discounts are applicable even when the customer does not send a full payment Payment terms are effective as of January 1. 2023
Correct Answer:
See the explanation below for solution
Explanation:
Log in to Oracle Financials Cloud.
Click on the Payment Terms icon in the Receivables work area.
Click on the Create button.
In the Payment Terms window, enter the following information:
Name:XXNet 30 (Replace XX with your allocated user ID.)
Description:Net 30 payment terms
Billing Cycle:All Cycles
Due Date:Next Business Day
Discount Days:30
Discount Amount:2%
Discount Type:Percentage
Discount Allowed:Yes
Discount Allowed Even If Partial Payment:Yes
Effective Date:January 1, 2023
Click on the Save button.
The new balance forward payment terms will be created.
To make the payment terms accessible to all business units:
Click on the Business Units tab.
Select the check box next to All Business Units.
Click on the Save button.
The payment terms will now be accessible to all business units.
The Billing Manager has navigated to the Billing Work Area to review incomplete transactions.
Which link on the Incomplete Infotile will provide detailed information on the most recent incomplete transactions?
- A. 0-5 Days Link
- B. 10+Days Link
- C. 0-10 Days Link
- D. 20+ Days Link
Correct Answer: C 🗳️
If AutoAccounting is set to derive accounting segments based on a standard line, the transaction line must be either ________________ or ________________. Otherwise, AutoAccounting cannot derive a valid account code combination for revenue recognition.
Identify the two values. (Choose two.)
- A. a credit memo line
- B. a purchasing item
- C. a debit memo line
- D. an inventory item
- E. a standard memo line
Correct Answer: D,E 🗳️
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. Two Bills Receivable transactions are created with maturity dates as March 30, 2015 and April 1, 2015.
- B. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as March 2, 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 dates as January 29, 2015 and January 31, 2015.
- E. Two Bills Receivable transactions are created with the issue date and accounting date as January 29, 2015 and January 31, 2015, respectively.
- F. A Bills Receivable is created with the issue date as January 31, 2015 and the maturity date as February 28, 2015.
Correct Answer: A 🗳️
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