Free Oracle 1Z0-1053-24 Exam Questions

Become Oracle Certified with updated 1Z0-1053-24 exam questions and correct answers

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Total 62 Questions | Updated On: Jan 08, 2025

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Question 1

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

Question 2

The benefits administrator runs an open enrollment window on March 1, 2017 for Program: XX Life Insurance, but cannot find the life event date of March 15, 2017. What could be a reason for this?

A : life event date configured for XX Life Program is not 15 March 2017

B : ere is no configuration for open enrollment for the XX Life Program.

C : cycle has already run for open enrollment, so no life event date is available.

D : benefits administrator has a login from the previous date to that of 15 March 20l7.

Answer: D

Question 3

A company offers its employees a choice of four plans within a health insurance plan type. However, the

company wants to compulsorily enroll an employee into one plan.

What must the minimum and maximum plan limit be set at Plan Type level?

A : n = 1, Max - 1

B : n = 1, Max = 2

C : n = 0, Max = 1

D : n = 0, Max = 0

Answer: B

Question 4

The benefits administrator has configured five rates for five different legal entities. After implementation, an

employee logs into the benefit self service. When selecting a plan, the employee cannot see the assigned rate

amount to the plan under the rate section.

Why can't the employee see the assigned rate amount?

A : rate amount Is a variable rate for the employee's legal employer.

B : rate amount is of the unit of measure "Money".

C : rate amount is not configured for the employee's specific legal employer.

D : rate amount "Assign on Enrollment" is enabled for five legal entities.

Answer: C

Question 5

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

Page: 1 / 13

Total 62 Questions | Updated On: Jan 08, 2025

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