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Welcome to the free practice questions for the CHRM-001 upgrade exam for Certified Human Resources Manager (CHRM). These questions were hand written with the purpose of complimenting your study material and helping you study for the real exam.

The test is comprised of 15 questions which are randomly selected from a collection of over a hundred. There is no forced time limit but the simulator will keep track of the overall time taken and your final score. For most questions, there are helpful explanations underneath the correct answer, to help you understand the right choice and to learn from any mistakes.

When you’re ready, simply click the "Start Practice Test" button (or link) below to begin the practice test.

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15 questions
Timed test (no limit)
Helpful explanations

About CHRM-001

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Identify the three true statements about accounts and account types. (Choose three.)
A. Account types tell FM how the child account should aggregate to the parent.
B. Children cannot inherit the account type of their parent unless specifically defined by the administrator.
C. Base level accounts do not automatically roll up to parents; business rules are required.
D. Financial Management provides predefined account types such as Asset, Revenue, Flow, Balance, and Dynamic.
E. Account types tell FM how the account balances should accumulate over time.
Answer: A,D,E
"Each account has an account type. Account types determine how child accounts are aggregated to parent accounts and how account balances accumulate over time." Above is an explanation about account types directly from the HFM Admin guide published by Oracle.
Additionally, this is true because Asset and Liability account types are balance sheet accounts and they represent a balance at a point in time. So, whether you look at the amount in these account types as periodic, QTD or YTD, the value is the same as it is not a cumulative amount.
The Revenue and Expense account types are income statement accounts and therefore the QTD and YTD amounts are an accumulation of the Periodic amounts.

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Topics Covered in CHRM-001

As with all upgrades, this exam encompases all of the exam material from the individual Certified Human Resources Manager (CHRM) exams. The three core areas covered are: Certified Human Resources Manager (CHRM).

A taster of the new features are mentioned above. Many of these topics are tested on the official exam as well as in this practice test.

No Braindumps!

As always, I like to stress that this site does not contain braindumps, EXE files or any other kind of dumps. These are unique handwritten questions, based on the official guidelines from GAQM.

It is always better to study for your exam rather than cheat your way through it. You’ll feel better and above all else - you’ll be smarter for it!!

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