Exam Name: Oracle Financials Cloud: Receivables 2024 Implementation Professional
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Updated: Oct 07, 2026
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Oracle 1Z0-1056-24 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: Receivables 2024 Implementation Professional |
| Exam Number: | 1Z0-1056-24 |
| Exam Price: | USD 245 (varies by country) |
| Real Exam Qty: | 70 (approx.) |
| Related Certifications: | Oracle Fusion Cloud Financials Implementation certifications Oracle Financials Cloud certifications |
| Exam Duration: | 90 minutes |
| Certificate Validity Period: | Typically 1 year (Oracle certification validity policy varies by release) |
| Available Languages: | English |
| Passing Score: | 75% |
| Exam Format: | Multiple Choice, Multiple Response |
| Recommended Training: | Oracle Financials Cloud Training Oracle Learning Explorer |
| Exam Registration: | Oracle Exam Scheduling (Pearson VUE / Oracle system depending on region) Oracle Certification Registration |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Online proctored exam (Oracle Testing Center / remote proctoring) |
| Pre Condition: | No strict prerequisites, but Oracle recommends familiarity with Fusion Financials and Accounts Receivable concepts. |
| Official Syllabus URL: | https://education.oracle.com |
Oracle 1Z0-1056-24 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Processing Customer Payments | - Receipt Management
|
| Receivables Configuration | - System Setup
|
| Collections and Billing Extensions | - Advanced Receivables Functions
|
| Managing Customer Billing | - Transaction Processing
|
| Customer and Account Configuration | - Customer Setup
|
1Z0-1056-24 Exam FAQ: Content, Service, and Privacy
Currency is maintained daily, not occasionally. Our IT staff reviews and updates the Oracle Financials Cloud: Receivables 2024 Implementation Professional question bank every day to keep it aligned with the live 1Z0-1056-24 exam. If a revision is underway when you buy or during your update period, we notify you and send the updated version as soon as it is ready — free within your 365 days of updates. You will never be left studying a stale edition without knowing it.
The 1Z0-1056-24 exam is the official assessment behind the Oracle Financials Cloud: Receivables 2024 Implementation Professional certification from Oracle, and its pass rate is genuinely low — many candidates need two or three attempts to get through. The difficulty is real, but it is also manageable: candidates who prepare with material aligned to the published objectives give themselves a far better starting position than those who walk in underprepared.
Registration for the 1Z0-1056-24 exam runs through these official channels:
- Oracle Certification Registration
- Oracle Exam Scheduling (Pearson VUE / Oracle system depending on region)
Given how commonly this exam takes more than one attempt, schedule your sitting only when your practice results say you are ready.
The official outline divides the 1Z0-1056-24 exam into weighted domains, including:
- Managing Customer Billing ()
- Receivables Configuration ()
- Collections and Billing Extensions ()
The Oracle Financials Cloud: Receivables 2024 Implementation Professional question bank at PremiumVCEDump is updated daily against these same objectives, and the free practice test lets you sample that alignment yourself.
Oracle recommends these training resources for candidates:
Official training builds the foundation; a daily-reviewed practice bank with expert-verified answers builds the exam-day readiness. Use both.
Only while you want us to. Update notifications about the Oracle Financials Cloud: Receivables 2024 Implementation Professional materials are sent because they are useful; once you have passed the 1Z0-1056-24 exam, one email to our team opts you out completely — no junk mail, ever. Your personal information is kept secret and safe throughout, and never shared with third parties.
Passing the 1Z0-1056-24 exam requires 75%, and registration costs USD 245 (varies by country) — per attempt. With retakes so common on this exam, preparing properly for one focused attempt is the choice that protects your budget.
The 1Z0-1056-24 exam contains 70 (approx.) questions with 90 minutes minutes to complete them. Practicing under the same time limit is the reliable way to make exam-day pacing feel familiar rather than frantic.
No strict prerequisites, but Oracle recommends familiarity with Fusion Financials and Accounts Receivable concepts.
Oracle Financials Cloud: Receivables 2024 Implementation Professional Sample Questions:
How can a Collector assigned to a Customer modify a strategy that is assigned from the Collections Dashboard?
- A. Only a Collections Administrator can modify the strategy.
- B. The strategy can be modified from the Manage Customers page.
- C. A strategy is automatically assigned based on Scoring and cannot be manually assigned to a Customer by a Collector.
- D. The Collector can modify the strategy from the Profile > Strategies tab.
Correct Answer: C 🗳️
Which two statements are true when you are using the Intercompany Reconciliation Process? (Choose two.)
- A. You need to submit the Extract Intercompany Reconciliation Data job.
- B. The Transaction Summary Report shows only transactions with a status of received.
- C. The Clearing Company Balancing Lines appear in the Intercompany Reconciliation Summary Report.
- D. The Reconciliation Period Summary Report shows the intercompany receivable and the intercompany payable lines generated by the intercompany balancing feature.
- E. The ledger balancing lines are generated when the primary balancing segment value is in balance but either the second balancing segment or the third balancing segment is out of balance.
Correct Answer: D,E 🗳️
Your organization has decided to use the Portal Upload delivery method for some of their customers. You will be using this in place of other options, such as Print Email, or XML to deliver customer invoices.
Which step must be performed in the system to deliver transactions to your customers by using the Portal Upload method?
- A. Select Portal Upload as a delivery method on Customer Profile under Statement and Dunning.
- B. Run the Create Customer Statement process in Scheduled Processes.
- C. Create a custom-preferred delivery method in the Manage Receivables System Options task in Functional Setup Manager.
- D. Select Portal Upload as a delivery method on Customer Profile under Invoicing.
- E. Create a custom preferred delivery method in the Manage Receivables Lookups task in Functional Setup Manager.
Correct Answer: D 🗳️
Explanation: Only visible for PremiumVCEDump members. You can sign-up / login (it's free).
A client has implemented a revenue policy with time-based contingencies. An invoice for a creditworthy customer is imported and one of the invoice lines is associated with both a nonstandard refund policy (60 days) and an acceptance clause (100 days).
When will revenue be recognized?
- A. after 60 days
- B. only after manual intervention
- C. immediately
- D. after 100 days
Correct Answer: D 🗳️
Manage Aging Methods
Scenario
Your organization needs to create their own a-bucket aging method for reporting purposes.
Task
Create a new 4-bucket Aging Method in the Collections application, where:
Name Of the aging method is XXAging Method (Replace XX with 03, which is your allocated User ID.) Aging method is accessible to all business units Aging buckets are 45 days apart Last bucket is 91 days
Correct Answer:
See the explanation below for solution
Explanation:
Log in to Oracle Financials Cloud.
Click on the Aging Methods icon in the Receivables work area.
Click on the Create button.
In the Aging Method window, enter the following information:
Name:XXAging Method (Replace XX with your allocated user ID.)
Description:Custom aging method for reporting purposes.
Aging Buckets:
1:0 to 45 days
2:46 to 90 days
3:91 to 135 days
4:136 to 180 days
Last Bucket:181 days
Available to All Business Units:Yes
Click on the Save button.
The new aging method will be created.
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