1Z0-518 practice question 14 of 25

Oracle Credit Management (OCM) uses lookups to help speed up data entry and increase accuracy. Select two required lookups used by OCM. (Choose two.)

Full set: 101 questions

Answer options

A: risk code

B: credit rating

C: payment terms

D: credit review type Correct answer

E: credit classification Correct answer

Correct Answer:

D. credit review type; E. credit classification

Explanation

Oracle Credit Management requires two seeded lookups to drive its workflow: ARCREDITREVIEWTYPES (defines the types/frequency of reviews) and ARCREDITCLASSIFICATIONS (groups customers by overall credit risk). At least one value must exist in each before credit reviews can be created or processed.

Why Incorrect

A. Risk codes are optional user lookups for custom risk scoring.
B. Credit rating values come from rating agencies and are optional.
C. Payment Terms is an AR lookup unrelated to the Credit Management process.

References

1. Oracle Credit Management User Guide R12.1, “Setting Up Lookups”, pp. 2-5–2-6.

2. Oracle Financials Credit Management Implementation Guide R12, Section “Mandatory Lookups for Credit Reviews”, p. 1-7.

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