Free Oracle 1Z0-1053-24 Exam Questions

Question 1

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 : nfigure 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.

B : nfigure a secondary rate with the calculation method as Multiple of Coverage.

C : nfigure 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 : nfigure a primary rate with the calculation method as Multiple of Coverage.

Answer: D

Question 2

How do you set up a Termination life event to end coverage at the end of the month?

A : verage and Rate Date Ranges:Coverage Start Date: End of the MonthPrevious Coverage End Date: First of the Next Month

B : Coverage and Rate Date Ranges:Coverage Start Date: First of the MonthPrevious Coverage End Date: End of the Month

C : Coverage and Rate Date Ranges:Coverage Start Date: First of the Next MonthPrevious Coverage End Date: End of the Month

D : Coverage and Pate Date Ranges:Coverage Start Date: End of the MonthPrevious Coverage End Date: End of the Month

Answer: C

Question 3

Which two statements are true about Enrollment Authorizations?

A : ey appear several times if the participant enters self-service multiple times for a single life event.

B : they are implemented, participants must read and accept the terms provided in the text before they are able to enroll.

C : ey are optional to Implement. If implemented, performing the authorization task is mandatory for the participant.

D : ey appear only the first time that the participant enters self-service enrollment for multiple life events.

E : ey are optional to implement. If implemented, performing the authorization task is optional for the participant.

Answer: A,D

Question 4

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 Global Dental 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 : nfigure 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 : nfigure 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.

C : nfigure 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.

D : nfigure 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.

Answer: B

Question 5

An organization has a requirement to restrict Beneficiary Distributions to a percentage with a maximum of 100%. However, the distribution should be in multiples of 10. Which statement about this requirement is true?

A : is requirement can be achieved through customization only.

B : is requirement can be completely achieved with configuration only.

C : is requirement cannot be achieved with configurations, and would require custom Fast Formula.

D : is requirement cannot be achieved in the current system offerings.

Answer: D