Learn with Oracle : 1Z0-1054-21 training material for 100% pass
Last Updated: Nov 07, 2026
No. of Questions: 136 Questions & Answers with Testing Engine
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Failing the 1Z0-1054-21 exam does not just hurt — it doubles the cost, because the registration fee comes out of your pocket again. Exam4Labs tilts the odds with 136 practice questions for the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam and a 60-day refund policy spelled out in plain language.
Oracle 1Z0-1054-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Period Close Process | - Financial reporting
|
| Enterprise Structures and Setup | - Ledger configuration
|
| Journal Processing | - Journal imports
|
| Security and Configuration | - Implementation setup tasks
|
| Subledger Accounting | - Event processing
|
Oracle 1Z0-1054-21 Exam FAQ: Read This First
The Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam spans 5 domains, and they are not weighted equally. The top areas are Security and Configuration, Period Close Process, Enterprise Structures and Setup. Budget your study hours to match those weights; the full domain list is in the outline section further up this page.
Yes. Oracle officially recommends these training options for the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam:
Training builds the foundation — then measure it with the 136 practice questions for the 1Z0-1054-21 exam from Exam4Labs to see how you perform when the clock is running.
The 1Z0-1054-21 exam is Oracle's official certification test, and passing it earns the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials credential at the Professional level. In career terms, it is verified proof of skill — the kind that moves you up the shortlist when your company works with Oracle technologies, or when you apply to one that does. The same track also includes Oracle Financials Cloud: Payables Implementation, Oracle Financials Cloud: Receivables Implementation, Oracle Financials Cloud: Accounting Hub Implementation, so this exam can anchor a longer certification plan.
You pass the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam at 65%, and each attempt costs USD 245 — fail, and that fee is due again in full for the retake. Treat mock exams as insurance: keep practicing with Exam4Labs until your scores sit comfortably above 65% twice in a row, then schedule the real 1Z0-1054-21 exam.
Please do. Exam4Labs offers a free demo download for the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam — grab it from the product page or leave your email and we will send it over. Purchases come with 365 days of free updates; after that year, extending the update service costs 50% of the original price in your member zone.
The Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam packs 55 questions into 90 minutes. That ratio leaves almost no room for stalling, so time management is a trained skill, not luck. Our suggestion: rehearse full-length timed sessions in the Exam4Labs engine, learn to park a question and return later, and walk into the 1Z0-1054-21 exam with a pacing plan already rehearsed.
Recommended: Experience with Oracle Financials Cloud or completion of Oracle Financials Cloud training courses Since Oracle revises these rules from time to time, confirm the current prerequisites on the official exam page (https://education.oracle.com) before booking your Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam.
Delivery is effectively instant: your 1Z0-1054-21 download link is emailed within one minute of payment, with no cap on how many computers you install it on. If the email has not shown up within 2 hours, check spam and contact our 7x24 support — we reply quickly and resend immediately. If you fail the Oracle Financials Cloud: General Ledger 2021 Implementation Essentials exam itself, the refund policy applies when you took the corresponding exam within 60 days of purchase: submit a scanned enrollment slip and the official Score Report PDF within 2 days after the exam, and the refund is processed within 7 days. Not covered: attempts within 3 days of purchase, exams never actually taken, free materials, and expired orders — and the candidate name must match the payer name. Prefer material over money? Exchange for two free exam products of equal value and keep the update service on your original purchase.
Use Oracle's official registration channels:
The exam is offered as Online proctored or test center (Pearson VUE) — choose the format that fits your situation when you schedule.
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
What are the Two purposes of a secondary ledger?
- A. it is used to main balances in a different currency only
- B. it should only be used to maintain balances for processing performance.
- C. it should not be used when trying to meet local accounting requirements.
- D. it is an optional ledger that is linked to a primary ledger for the purpose of tracking alternative accounting.
- E. it can differ from its primary ledger by the accounting method, chart of accounts, accounting calendar, currency and/or journal processing options
Correct Answer: D,E 🗳️
our Financial Analyst needs to interactively analyze General Ledger balances with the ability to drill down to originating transactions. Which three features facilitate this? (Choose three)
- A. Sunburst Report
- B. Account Inspector
- C. OTBI
- D. Account Monitor
- E. Smart View
Correct Answer: B,D,E 🗳️
Your customer wants to secure their primary balancing segment values to prevent employees of one company from entering or viewing data of another company. You only need this for General Ledger balances and reporting. What two security features should you use?
- A. Cross-Validation Rules
- B. Balancing Segment Value Assignment to Legal Entities
- C. Data Access Sets using an Access Set Type of Primary Balancing Segment
- D. Segment Value Security
Correct Answer: C,D 🗳️
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You create an invoice for USD 100 that is matched to a purchase order of USD 100. You validate the invoice to consume the budget and reduce funds available. And then later, you cancel invoice. What happened to funds available when you cancel and invoice that requires budgetary control?
- A. The funds reserved for the purchase order is reinstated while the invoice expenditure is reversed by USD 100
- B. The Budget and funds available will increase by USD 100.
- C. funds Available will change when the invoice is approved
- D. The Budget will increase by USD 100 ad the funds available will decrease by USD 100
Correct Answer: A 🗳️
What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availibility? (Coose two)
- A. The Purchase order is canceled or finally closed or rejected without performaing any receipt or invoice
- B. When the purhcase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount.
- C. When the purhcase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the budget to the extent of the unreceived amount.
- D. The requisition reserved successfully undergoes amendment and is rejected in the reapproval
Correct Answer: A,C 🗳️
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