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Exam Code: 1Z0-1078-21

Exam Name: Oracle Product Lifecycle Management 2021 Implementation EssentialsCertification

Version: V16.75

Q & A: 400 Questions and Answers

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Please read this scenario prior to answering the question
ArchiSurance has entered into a legal agreement to acquire ArchiSpecialty, a specialty insurer that has several lines of business, including insuring organizations that conduct high-stakes contests. Prior to entering into this agreement ArchiSurance staff carefully examined the ArchiSpecialty Enterprise Architecture to develop an integration plan with four successive phases. Each phase of the plan provides a stable foundation for ArchiSurance to conduct its newly expanded business while making significant progress toward the targeted integration of ArchiSpecialty operations. The first phase of the plan, Common Ownership, will begin on the acquisition date specified in the legal agreement. The second through fourth phases will begin after their predecessors are complete.
During the Common Ownership phase, the two companies' websites will be linked to each other and their Interactive voice response(IVR) system menus will be integrated. During the second phase, known as Integrated Organizations, the corresponding ArchiSurance and ArchiSpecialty departments will be combined and all financial processing will be migrated to the original ArchiSurance systems. In the third Phase, known as Integrated Customer Operations, ArchiSpecialty customer relationship management (CRM) data will be migrated to the corresponding ArchiSurance applications. In the fourth and final phase, known as Integrated Operations, the ArchiSpecialty claims data will be migrated to the corresponding ArchiSurance applications. However, the ArchiSpecialty underwriting solution for high-stakes contests will be retained due to its unique capabilities.
The underwriting solution for high-stakes contests assists underwriters in creating a policy to insure against the possibility of a contestant winning an improbable but expensive award, such as $1 million US for hitting a hole-in-one on a golf course, or a luxury world cruise for a winning spin of a roulette wheel. In return for a single premium payment, the insurer agrees to pay the award if a contestant earns it fairly. When an underwriter receives a request for an insurance quote, either from a promotions company that isplanning the contest or from a company with its own promotions department, he uses the Contest Modeler application to precisely describe the planned contest and the coverage requested, and to store the contest model in a machine-readable format. Then, the underwriter uses the Contest Query application, which reads the contest model and queries a collection of audited contest results to find records of similar contests. Then, the underwriter uses the Contest Estimator application to estimate the premium for the coverage request, and also to produce a report with a recommended set of conditions to provide with the quote. After consulting the report, the underwriter uses the Quoting Tool application to prepare a quote for the customer. Then, the underwriter sends the quote to the customer via secure email. If the customer accepts the quote, the underwriter uses the Contract Generator to prepare t contract for the customer, which he also sends via secure email. In the contract, the customer agrees to employ a contest auditorwho will report the audited results of the contest regardless of whether prizes are awarded. The underwriter uses the Contest Tracker application to add these reports to the collection of audited contest results. Note that all reports are delivered in a standard markup language that can be read by other software programs and either processed in the background or rendered visually.
Refer to the Scenario
The ArchiSurance chief information officer has asked you to explain the unique suite of applications that ArchiSpecialty uses to underwrite high-stakes contest insurance. You must model these applications, the services they provide and the data they access.
Which answer provides the best explanation?

A. Option D
B. Option C
C. Option B
D. Option A
Answer: B

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