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FCCS Practice Exam Q/A Latest Update 2024 (Verified Solutions) 75 Questions
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FCCS Practice Exam Q/A Latest Update 2024 (Verified Solutions) 75 Questions
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FCCS Practice Exam Q/A Latest Update2024 (Verified Solutions) 75 Questions
1. In Financial Close Manager, when would you choose to
define tasks in a Template rather than create a new Schedule
each month?
A. when the tasks are repeatable over multiple close cycles
B. when the tasks require consistent definition across close
schedules
C. when the tasks are often late in completion and they need
to be monitored more closely
D. when the tasks require multiple levels of approvers -
Correct Answer ✅A. when the tasks are repeatable over
multiple close cycles
2. Which two data extract export file types are available
within Financial Consolidation and Close (FCCS)?
(Choose two.)
A. DAT file type
B. Excel XLS file type
C. Comma delimited
,FCCS Practice Exam Q/A Latest Update
2024 (Verified Solutions) 75 Questions
D. Tab delimited - Correct Answer ✅C. Comma delimited
D. Tab delimited
3. When creating a member mapping for account Sales in
Data Management, the following script is entered.
UD5 refers to a Product custom dimension:
WHEN UD5 LIKE 'CAR_%' THEN 'AUTO_SALES'
ELSE 'SALES'
Which statement is True?
A. The script can be eliminated by using a multi-dim map on
the Product dimension that also looks for the account Sales.
B. The script will work if the script is referenced in the In
mapping type with #SQL as the target.
C. The script will not work since Data Management does not
support scripting.
D. The script will not work since the UD5 member referenced
does not start with FCCS_
,FCCS Practice Exam Q/A Latest Update
2024 (Verified Solutions) 75 Questions
E. The script will work if the script is referenced in the Explicit
mapping type with #SQL as the target. - Correct Answer
✅A. The script can be eliminated by using a multi-dim map
on the Product dimension that also looks for the account
Sales.
4. P, Q, and R, are children of a mid-level parent entity,
AceCo. In February each entity has cash in the amounts of 10,
20, and 30, respectively, and AceCo has been consolidated
and has cash of 60. A prior period adjustment to Q adjusts
cash with a debit of 5.
Which statement regarding consolidation is correct?
A. There is no way to do a prior period entry like this.
B. January and February should be consolidated.
C. February should be consolidated, after which the cash at
AceCo is now 65.
D. January should be consolidated for the change and nothing
needs to happen for February. - Correct Answer ✅B.
January and February should be consolidated.
, FCCS Practice Exam Q/A Latest Update
2024 (Verified Solutions) 75 Questions
5. Which statement correctly describes the Consolidation
dimension?
A. The dimension contains members to store non-controlling
interest and joint venture data.
B. The dimension uses a separate member to store data from
an entity's descendants.
C. The dimension allows users to see input versus journal
adjustment data.
D. The dimension aggregates input, consolidated, and
elimination data together. - Correct Answer ✅D. The
dimension aggregates input, consolidated, and elimination
data together.
6. Which statement is true regarding Data Management
categories?
A. Categories are defined on the Global Mapping tab and then
the frequency is specified on the Application Mapping tab
B. Categories must begin with FCCS_ to match their Financial
Consolidation and Close counterparts.
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