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Oracle Benefits Cloud 2021 Implementation Essentials : 1Z0-1053-21
- Exam Code: 1Z0-1053-21
- Exam Name: Oracle Benefits Cloud 2021 Implementation Essentials
- Q & A: 62 Questions and Answers
About Oracle Benefits Cloud 2021 Implementation Essentials : 1Z0-1053-21 Exam
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Oracle 1Z0-1053-21 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Reporting and Integration | 20% | - Standard Benefits Reports - Analytics and Dashboards - Integration with HCM Cloud - Security and Access Configuration |
| Benefits Enrollment Management | 25% | - Self-Service Enrollment Display - Collapsing Rules and Event Processing - Scheduled and Open Enrollment - Dependent and Beneficiary Setup |
| Administering Benefits | 20% | - Rates, Coverage, and Flex Credits - Billing and Court Order Processing - Benefits Extract and Data Transmission - Benefits Administration Tasks |
| Configuring Benefits | 35% | - Plan and Program Configuration - Life Events and Enrollment Setup - Eligibility Profiles and Derived Factors - Introduction to Oracle Benefits Cloud |
Oracle Benefits Cloud 2021 Implementation Essentials Sample Questions:
Question #1
What rate is used for the flex creditprogram to adjust the total cost of the program?
- A. Rollover Rate
- B. Standard Rollover Rate
- C. Standard Primary Rate
- D. Standard Secondary Rate
Correct Answer: A 🗳️
Question #2
You are a benefits consultant implementing for a company that offers a life Insurance plan for employees with only one option -Employee Plus Family. The rate for this option is dependent on various factor5 like age/smoking status/gender:
A female employee in the under 40 age group, who is a smoker, wants to purchase $100,000 of life insurance.
The plan would be 2.1 (100,000 * 0.21/1000), considering 5100,000 is the coverage she opts for. The calculation is -> {Coverage* [{Rate applied as per gender/smoking status/ aqe)/1000l).
How can you configure a rate for the company's plan?
- A. Configure a secondary rate with the calculation method as Multiple of Coverage.
- B. Configure a primary rate with the calculation method as Multiple of Coverage.
- C. Configure a fast formula calling this table. Configure a secondary standard rate with the calculation method as Formula. Then create another standard rate with type and the calculation method aS Multiple of Parent.
- D. Configure an eligibility profile with age-derived factors. Attach it to the plan. Then create a standard fate with the calculation method as Multiple of Coverage.
Correct Answer: B 🗳️
Question #3
A Global Dental Plan has the following options attached to it:
Option 1: Employee Only
Option 2: Employee Plus Spouse
Option 3: Employee Plus Spouse Plus Children
The company wants an employee to select only one option which will be restricted for two years. After two
/ears the employee will get an opportunity to enroll into a new GlobalDental Plan. For example, an employee was hired on July 23, 2015 and enrolled into the plan. The employee cannot make a new selection until July 2i,
2017 as the plan is restricted.
How can you configure this scenario for the company?
- A. Configure a New hire with the addition of child and Marriage life events to the Global Dental Plan with an enrollment period1 date as Formula, Configure the limitation to minimum 2 years at the plan tab.
- B. Configure a New hire life event to the Global Dental Plan with an enrollment period start date as of event date. Then configure the limitation to minimum 2 years at the plan tab.
- C. Configure a New hire with the addition of child and Marriage life events to the Global Dental plan with an period start date as of event data. Configure the limitation to minimum 2 years at all three option levels.
- D. Configure a New hire with the addition of child and Marriage life events to the Global Dental Plan with an enrollment period start date as of event date. Configure the limitation to minimum 2 years at all three option levels. Then configure a person selection formula type with the logic of creating an enrollment opportunity every 2 years.
Correct Answer: D 🗳️
Question #4
A benefits administrator can see these statuses of life events-
1. New Hire processed on 28-Apr-2016.
2. Marriage detected on 1-Jun-2016.
What do these statuses imply?
- A. New Hire IF is complete and closed. Marriage LE is triggered and has made elections.
- B. New Hire LE is complete but not closed. Marriage LE is triggered but has not yet made elections.
- C. New Hire l-E is complete and closed. Marriage IE is triggered but has not yet made elections.
- D. New Hire LE is complete and closed. Marriage LE is triggered because of the data change.
Correct Answer: D 🗳️
Question #5
A medical plan (not in program) has the Defined Rate frequency set as Monthly and the Communicated Rate frequency set as Per Pay Period. The pay period is defined as bi-weekly.
The rate has been defined with the calculation method as Flat Amount = 65. The currency defined at the plan is U.S.D. There are 26 payroll periods in the plan's year period.
What is the communicated rate value?
- A. 30
- B. 32.5
- C. 40
- D. 130
Correct Answer: A 🗳️
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