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100+ Free Oracle 1Z0-1056-26 Practice Questions

Pass your Oracle Fusion Cloud Financials: Receivables and Collections 2026 Implementation Professional exam on the first try — instant access, no signup required.

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ArticleOracle SQL 1Z0-071 Exam Guide 2026: Official Facts, Topic Traps, and Practice Plan12 min read
2026 Statistics

Key Facts: Oracle 1Z0-1056-26 Exam

1Z0-1056-26

Oracle Fusion Cloud Financials Receivables and Collections 2026 Implementation Professional exam code

Oracle Education exam page

90 minutes

Time allotted for the Oracle 1Z0-1056-26 certification exam

Oracle Education exam page

~55-60 questions

Approximate question count used by recent Receivables exam versions

Oracle Education exam page

~60% pass

Passing score has recently been about 60%, set statistically by Oracle

Oracle Education exam page

US$245

Listed Oracle certification exam fee (local-currency equivalent applies)

Oracle University pricing

Hands-on + MCQ

2026 version combines scenario questions with hands-on performance tasks in a simulated Receivables environment

Oracle Education exam page

Oracle Collections

2026 title adds Collections, emphasising scoring, dunning and strategies

Oracle Education exam page

100

Free original practice questions in this bank

OpenExamPrep

The Oracle 1Z0-1056-26 exam certifies consultants and administrators who implement Oracle Fusion Cloud Financials Receivables and Collections. It is a 90-minute, professional-level exam delivered through Oracle University and Pearson VUE, combining scenario-based questions (recent versions used roughly 55-60) with hands-on performance tasks in a simulated Receivables environment. The pass standard is set statistically by Oracle and has recently been around 60%, with the exam fee listed at US$245. Topics span customer setup, transactions and AutoInvoice, receipts and cash application, revenue management, credit and collections, and period close. This 100-question bank provides original practice across all of those areas with full explanations.

Sample Oracle 1Z0-1056-26 Practice Questions

Try these sample questions to test your Oracle 1Z0-1056-26 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1In the Oracle Trading Community customer model, which level holds the receivables financial relationship that invoices, receipts, and balances are tracked against?
A.Party
B.Customer account
C.Account site
D.Contact
Explanation: A party becomes a customer when a customer account is created for it. The customer account is the financial relationship level where transactions, receipts, and balances are recorded. Sites under the account add address-specific roles such as bill-to and ship-to.
2What is the primary purpose of a customer profile class in Oracle Fusion Receivables?
A.To define the chart of accounts for revenue
B.To provide a reusable template of credit, billing, and collections defaults applied to customer accounts and sites
C.To group customers for AutoInvoice import
D.To control which business unit a customer belongs to
Explanation: A customer profile class is a template that bundles credit limits, payment terms, statement, dunning, and other defaults. Assigning it to an account or site defaults those values, which can then be overridden, reducing repetitive setup.
3A customer needs invoices sent to one address but goods shipped to another. How is this best modeled in Oracle Receivables?
A.Create two separate customer accounts
B.Create one account with a bill-to site for the billing address and a ship-to site for the shipping address
C.Create two parties under one account
D.Use a single site with two business purposes set to bill-to
Explanation: Within a single customer account you create account sites and assign business purposes. One site is flagged as bill-to for the billing address and another as ship-to for the shipping address, keeping all activity under one account balance.
4Which Receivables setup determines whether a transaction's distributions are derived automatically and which accounts (revenue, receivable, tax, freight) are built?
A.Receipt class
B.AutoAccounting
C.Application rule set
D.Statement cycle
Explanation: AutoAccounting defines how Receivables constructs the general ledger accounts for revenue, receivable, tax, freight, and other distribution types by combining segment sources such as transaction type, salesperson, or standard lines.
5In AutoInvoice, what does a grouping rule control?
A.The order in which lines appear on the printed invoice
B.The mandatory and optional attributes that must match for lines to combine into a single transaction
C.The general ledger accounts used for revenue
D.The dunning letter sent to the customer
Explanation: AutoInvoice grouping rules define the transaction attributes (such as transaction type, currency, bill-to) that must be identical for interface lines to be grouped together into one transaction, plus optional grouping attributes.
6A transaction source in Receivables is set to 'Imported'. What does this primarily indicate?
A.The transactions are entered manually in the Create Transaction page
B.The transactions originate from external systems or other Oracle products and are brought in through AutoInvoice
C.The transactions are recurring bills
D.The transactions are for bills receivable only
Explanation: An imported transaction source is used by AutoInvoice for transactions coming from external feeders or Oracle sources such as Order Management or Projects. Manual sources are used for transactions keyed directly in Receivables.
7Which transaction class would you use to reduce the balance of a specific existing invoice for a returned item?
A.Debit memo
B.Credit memo
C.Chargeback
D.On-account credit
Explanation: A credit memo is applied against a specific invoice (or its lines) to reduce that invoice's open balance, for example for a return or pricing correction. It directly offsets the original transaction.
8What controls whether a transaction type posts to the general ledger and whether it opens a receivable?
A.The payment terms
B.The transaction type's Open Receivable and Post to GL options
C.The remit-to address
D.The line ordering rule
Explanation: The transaction type has Open Receivable and Post to GL flags. Open Receivable determines whether the transaction updates the customer balance and is included in aging; Post to GL determines whether it is transferred to the general ledger.
9An invoice has payment terms of '2/10, Net 30'. What does this mean?
A.2% interest after 10 days, full amount due in 30 days
B.A 2% discount if paid within 10 days, otherwise the full amount is due in 30 days
C.Pay 2% now and the balance in 30 days
D.10% penalty after 2 days, net due in 30 days
Explanation: '2/10, Net 30' is a standard payment term meaning the customer may take a 2% early-payment discount if they pay within 10 days; otherwise the full invoice amount is due by day 30.
10During receipt application, which setup determines how an applied receipt amount is distributed across line, tax, freight, and finance charges on a transaction?
A.Grouping rule
B.Application rule set
C.AutoAccounting
D.Statement cycle
Explanation: An application rule set defines the sequence and method (such as Line First, Prorate All) used to allocate a receipt across the line, tax, freight, and charges balances of a transaction.

About the Oracle 1Z0-1056-26 Exam

The Oracle Fusion Cloud Financials: Receivables and Collections 2026 Implementation Professional certification (exam 1Z0-1056-26) validates the skills needed to implement the receivables, or credit-to-cash, side of Oracle Fusion Cloud Financials. It covers configuring Receivables system options and the Trading Community customer model; defining transaction types, sources and AutoAccounting; setting up AutoInvoice to import billing data; processing manual, automatic and lockbox receipts with application rule sets; managing revenue recognition and revenue contingencies; running credit management and Oracle Collections with scoring, dunning and strategies; and closing the Receivables period with reconciliation to the general ledger. The 2026 version is delivered through Oracle MyLearn and adds hands-on performance tasks in a simulated environment alongside scenario-based questions, so it rewards real configuration experience.

Assessment

Scenario-based multiple-choice and multiple-select questions plus hands-on performance challenges completed in a simulated Oracle Fusion Cloud Receivables environment, covering customers, transactions, AutoInvoice, receipts, revenue, credit, collections and period close.

Time Limit

90 minutes. Confirm the duration shown on the Oracle exam preparation page when you register.

Passing Score

Set statistically by Oracle and shown on the exam page; recent Receivables versions have used a passing score around 60%. Your actual result and the required score appear on your score report.

Exam Fee

Oracle lists the exam fee at US$245 (or local-currency equivalent), confirmed at registration through Oracle MyLearn / Pearson VUE. (Oracle University (delivered via Pearson VUE))

Oracle 1Z0-1056-26 Exam Content Outline

20%

Configure Receivables and Customers

Receivables system options, reference data sets and business units, the Trading Community customer model (party, account, site, contact), customer profile classes, account and site profiles, payment terms, statement and dunning settings, and remit-to addresses.

20%

Transactions, AutoInvoice and Billing

Transaction types and sources, invoices, debit and credit memos, on-account credits, AutoAccounting rules, AutoInvoice grouping and line-ordering rules, import validation and error correction, transaction printing and customer billing presentation.

18%

Receipts and Cash Application

Receipt classes and methods, remittance and clearance, manual and automatic receipts, application and recommendation rule sets, AutoMatch and lockbox processing, on-account and unapplied receipts, chargebacks, adjustments, refunds and reversals.

15%

Revenue Management and Accounting

Revenue recognition and scheduling rules, revenue contingencies and event-based deferral, AutoAccounting for revenue, subledger accounting for Receivables, and reconciling the Receivables subledger to the general ledger.

17%

Credit and Collections

Credit management profiles, credit checks and credit reviews, Oracle Collections setup, aging and scoring, collectors, dunning configuration and correspondence, collection strategies and tasks, promises to pay, and disputes.

10%

Period Close and Reporting

Receivables accounting period statuses, incomplete and unposted transaction review, the Receivables to General Ledger reconciliation report, aging and account analysis reporting, and closing the Receivables accounting period.

How to Pass the Oracle 1Z0-1056-26 Exam

What You Need to Know

  • Passing score: Set statistically by Oracle and shown on the exam page; recent Receivables versions have used a passing score around 60%. Your actual result and the required score appear on your score report.
  • Assessment: Scenario-based multiple-choice and multiple-select questions plus hands-on performance challenges completed in a simulated Oracle Fusion Cloud Receivables environment, covering customers, transactions, AutoInvoice, receipts, revenue, credit, collections and period close.
  • Time limit: 90 minutes. Confirm the duration shown on the Oracle exam preparation page when you register.
  • Exam fee: Oracle lists the exam fee at US$245 (or local-currency equivalent), confirmed at registration through Oracle MyLearn / Pearson VUE.

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

Oracle 1Z0-1056-26 Study Tips from Top Performers

1Learn the Trading Community customer model cold: how party, account, site and contact relate, and how customer profile classes default credit, billing, dunning and statement settings onto accounts and sites.
2Trace one invoice end to end - transaction type and source, AutoAccounting, AutoInvoice grouping and line ordering, then completion and posting - so you can answer questions about where each setup value comes from.
3Practise receipt application: receipt classes and methods, remittance and clearance, application and recommendation rule sets, AutoMatch, lockbox, and how on-account, unapplied and chargeback amounts behave.
4Study revenue recognition and contingencies separately from accounting; know when revenue is deferred, what events release it, and how AutoAccounting and subledger accounting build the journal entries.
5Map Oracle Collections components: collectors, scoring and aging, dunning configuration and correspondence, strategies and tasks, promises to pay and disputes, and how credit management triggers reviews.
6Rehearse the period close: accounting period statuses, clearing incomplete or unposted transactions, running the Receivables to General Ledger reconciliation report, and the order of close steps.

Frequently Asked Questions

What does the Oracle 1Z0-1056-26 certification cover?

It certifies the ability to implement Oracle Fusion Cloud Financials Receivables and Collections: customer setup, transactions and AutoInvoice, receipts and cash application, revenue management, credit management and Oracle Collections, and the Receivables period close and reconciliation.

How long is the 1Z0-1056-26 exam and how many questions are there?

The exam is timed at 90 minutes. Recent Receivables versions used roughly 55-60 questions; the 2026 version mixes scenario-based multiple-choice questions with hands-on performance tasks. Confirm the current count and duration on the Oracle exam page.

What is the passing score for 1Z0-1056-26?

Oracle sets the pass mark statistically and publishes it on the exam preparation page. Recent Receivables versions have used a passing score around 60%. Your score report shows the required score and your result.

How is the 2026 exam different from earlier Receivables exams?

The certification title was expanded to 'Receivables and Collections', putting more emphasis on Oracle Collections (scoring, dunning, strategies). The 2026 delivery also adds hands-on performance tasks in a simulated Receivables environment alongside scenario questions.

What is AutoInvoice used for?

AutoInvoice is the Receivables import process that creates transactions from external and Oracle sources such as order management, projects and contracts. Grouping rules determine how lines combine into transactions, and line-ordering rules control the sequence of lines.

Do I need hands-on experience to pass?

Strongly recommended. Because the 2026 exam includes hands-on performance tasks and scenario questions, configuring system options, transactions, receipts, revenue and collections in a test environment is the most reliable preparation.