Hyperion Financial Management(HFM)  Interview Questions and Answers

 Categories of HFM Interview Questions

1Q) What is HFM?

Ans: Oracle Hyperion Financial Management is a web-based financial consolidation tool.

2Q) What is Consolidation?

Ans: Consolidation is aggregating the Base level entities amounts with the Parent level entities amounts.

3Q) How many Custom dimensions are there in HFM?

Ans: Here you need to answer as per your HFM version.

Ex: 9 versions to 11.1.2.1 version only we having 4 custom dimensions. After that versions are like (11.1.2.2 and 11.1.2.3) having 100 custom dimensions.

4Q) Explain 8 standard dimensions?

Ans: Those 8 Standard dimensions are like

Entity

Account

Value

Scenario

Year

Period

View

ICP

5Q) EXPLAIN about Entity Curr adj member in HFM?

Ans: Basically, value dimension members are inter-related with so many areas in HFM, but in brief, talking about Entity Curr Adj you can make any adjustments using journals into this particular value dimension, here you can perform calculations and posting journals.

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6Q) How will you perform Currency Translations?

Ans: First, we have to create/define all the currencies in the MetaData Item called currencies. Then we have to perform currency translations in the Explore data module by using custom dimensions and value dimensions.

7Q) How will you perform the Review Process?

Ans: To perform the Review process, we should have the “Review Supervisor” Security authority. In the Explore Data Module, we will perform Process Management.

8Q) Sometimes, we cannot post a Journal. What will be the Reason?

Ans: In Entity Dimension, we should check the “allow adjustment “property.  And the period in which we created the journal should be kept open. And we should have the security authority to create journals.

9Q) How do we Migrate application from server to server?

Ans: We migrate applications with copy application utility. Another way of migrating application is the traditional way that extracts all required files from development and loads the same files in production

10Q) How do you enable Rules to customize consolidation?

Ans: Application Settings -> consolidation Rules -> Y

11Q) What are the HFM services you need to start?

Ans: Hyperion Foundation Shared Services – Web Application

HFM- DME Listener

Hyperion Web Service Manager

Hyperion Workspace- Agent Application

Hyperion Workspace- Web Application

12Q) What is Adjustment?

Ans: The adjustment is to correct the data. It is done by Journals at value dimension member Entity currency Adjs and Parent curr Adj.

13Q) What is HFM Architecture?

Ans: Hyperion Financial Management is designed to operate as a multi-tier system.

Client tier: The client tier contains the user interface and the ability to communicate with the application tier. You can display data and metadata, enter data, and maintain metadata in this tier.

Web tier: The Web server tier contains the Web server. You can access the Web-enabled portions of Hyperion Financial Management in this tier. The Hyperion Financial Management Web client contains all functionality available in the Windows client with the exception of security administration.

Middle tier: The middle tier contains the domain intelligence and connections to the relational database.

Database tier: The data tier contains the relational database and all Hyperion Financial Management data and metadata.

14Q) How do you create an ICP member in HFM?

Ans: The following are system defined members for the ICP dimension.

[ICP Top] Specifies the top intercompany member

[ICP None] Specifies that no intercompany member is used

[ICP Entities] Specifies the entities that are designated for intercompany transactions

The System will automatically create an ICP member when you select the IsICP attribute, see the below for your reference.

When you create an application, Intercompany Partner members are automatically created for the application. An ICP member is created for each Entity member for which the IsICP attribute is selected.

Note: You can modify only the description and security class for ICP members. All other attributes are predefined and cannot be modified

15Q) How do you create a member list in HFM?

Ans: Member list we can write with the function called list and we will save with extension .lst, once you uploaded the member list you can select the member in a particular POV working with different areas like journals, ICP, etc., we can also create our own custom member list for different purposes.

HFM Certification Questions and Answers

16Q)Where is HFM data available?

Ans: Data is stored at the cells formed by the intersection of the members of the different dimension members in the subcube. All aggregations and calculations are performed on data in sub cubes retrieved into RAM on the application serve and I hope the data also be available in the database server.

17Q) What are the different ways of running consolidation in HFM?

Ans: Consolidate- will consolidate only what has changed from the previous execution of consolidation, including the execution of all necessary calculations and currency translations for individual entities (the ones that have the impacted status of course)

18Q) What is data audit in HFM?

Ans: The data audit feature is used to view data changes performed by users. We can filter the data changes by date range, application server, user, and the dimension members of cells. (EnableDataAudit metadata attribute is available in Scenario and Account dimensions.)

19Q) What is the minimum role to be given to a user to access HFM?

Ans: Default or view access.

20Q) What is Line ITEM detail in HFM? How to enter it?

Ans: Line Item detail is additional information to the data. It is entered into the data file.

21Q) Explain Olap and mention if it is related to Hyperion Financial Management?

Ans: Hyperion HFM/ Hyperion Planning both are Essbase based. They are front-end tech and Ess-base is the back end. Ess-base is an M-OLAP. There are three types of OLAP technology present in the market. These are ROLAP, MOLAP, and HOLAP.

An example of ROLAP is BO. Here we deal with the table and they act as a virtual cube. But if we think about Oracle Express Hyperion Essbase and Cognos then they are real cubes. Thus MOLAP. ROLAP+MOLAP=HOLAP.

In the case of BO, we need to join to attain the OLAP effect virtually but behind is a joined table. But in the case of MOLAP, there is no concept of the table it is cube only.

For example, a page is a table then a Book is a Cube.

If the data is large then it is advisable to take up ROLAP not MOLAP. because of the performance of the cubes degrades. If the size of data is around 100 GB to 150 GB then it is fine to go with MOLAP and if it is more then that then we should choose BO.

22Q) Explain why we use Hyperion?

Ans: We have IIS for HFM although there is no IIS for OLAP's. If there is no IIS then it is a time taking process to retrieve financial data.

Is it possible to have one ASO database and one BSO database in a single application Justify 

No, because ASO/BSO classification is defined at the Application level and not at the database.

23Q) What is Hyperion Planning?

Ans: Hyperion Planning is a budgeting and forecasting application from Oracle formerly owned by Hyperion Solutions Corporation. Hyperion Planning uses Essbase (s multidimensional database product sold by Hyperion) as a database and calculation engine, a relational repository for business logic, and includes a web-based user interface. The software allows you to add planning or forecast data to actuals. You can use Web Forms to add the planning data or use the Excel SmartView tool. 

24Q) How do you load the data into HFM?

Ans: HFM directly can’t take the data from ERP packages. Then loaded into FDM and mapped with HFM.

25Q) What is the data lock?

Ans: A user-controlled mechanism that prevents changes to data according to specified criteria, such As period or scenario.

26Q) What is a Dynamic memberlist?

Ans: As the dimension members are added and deleted, the dynamic member list automatically reflects the changes by replying to the user-defined criteria.

27Q) What is the difference between switch sign for and switch type for and in which dimension it exists?

Ans: It exists in the custom dimension

      Switch sign for: It is ticked to change

      _ ASSET to LIABILITY

      _ LIABILITY to ASSET

      _ EXPENSE to REVENUE

      _ REVENUE to EXPENSE

      _ BALANCE to FLOW

      _ FLOW to BALANCE

       Switch type for: It is ticked to change

      _ ASSET to EXPENSE

      _ EXPENSE to ASSET

      _ LIABILITY to REVENUE

      _ REVENUE to LIABILITY

      _ BALANCE to FLOW

      _ FLOW to BALANCE

28Q) What is Configurable Dimensions?

Ans: Configurable Dimension allows the HFM administrator to set the number of custom dimensions in the application. For each dimension, it is possible to set the size of the dimension and give a short name and a long name (alias).

29Q) What are the benefits of Configurable Dimensions?

Ans: Configurable Dimensions provides HFM the flexibility lacking in the traditional tools with predefined fixed structures. HFM applications can be built with the exact number of custom dimensions needed. If 2 custom dimensions are necessary, then the application can be built with 2 dimensions. If it needs 4 or 6, the number of custom dimensions can be set accordingly. Customer requirements drive the design and the structure of the application without constraints or compromises.

30Q) Does Configurable Dimension have an impact on performance?

Ans: The configurable dimension does not have a direct impact on performance. In an application where Calculation rules are correctly written, performance is driven by the amount of data in the application, not by the number of dimensions or the number of elements in each dimension.

HFM Interview Questions for Experienced!

31Q) How many custom dimensions should be used in an application?

Ans: The number of custom dimensions depends on the level of details of the reporting. When the same detailed analysis exists for multiple accounts, this detail should be created in a custom dimension. For instance, if Sales, Cost of Good Sold, and Gross Margin must all be detailed by-products, then it is advised to create a Product hierarchy in a custom dimension. When an account must be analyzed by a combination of details, for instance, Sales by Product and also simultaneously by Market, then these details should be created in separate dimensions. The more analytical details are required, the more dimensions are necessary. For instance, if Sales, Cost of goods sold, and Gross margin must be analyzed simultaneously by Product, Market, Channels, and Packages, then it is advised to use 4 custom dimensions.

32Q) Can custom dimensions contain details of different natures?

Ans: Yes. A custom dimension can contain different types of details, as long as these details are used on different accounts. For instance, if the P&L accounts are detailed by Products and the Balance Sheet accounts are detailed by Flows, then it is possible to use the same custom dimension for both details. Products and Flows will be created as separate hierarchies in the same dimension. When defining the accounts, P&L accounts will be associated with the Product hierarchy and Balance Sheet accounts will be associated with the Flow hierarchy.

33Q) Is it better to create more custom dimensions or fewer custom dimensions?

Ans: We believe it is better to create fewer dimensions because it will be easier for the user to navigate in the product. When possible we think it is better to use the same dimension for different type of details, using the top member attributes in accounts to define the correct intersections.

34Q) How do the Rules work with Configurable Dimensions?

Ans: All existing functions continue to work. Some new generic functions have been created to handle applications with more than 4 custom dimensions.

35Q) How will you calculate minority interest in Hyperion financial management?

Ans: We need to write in rules as PCon=POwn-PMin, to calculate the percentage of minority interest.

                                 %Minority=%consolidation-%ownership

36Q) what is the importance of Hyperion financial management?

Ans: Many finance executives face the daunting task of consolidating their Companies' financial and operating results using spreadsheets that are difficult to maintain and audit.

37Q) What is a recurring journal?

Ans: some journals we use rapidly. So, for the purpose, we will create recurring templates, we will create recurring journals.

38Q) What is Triangulation?

Ans: A means of converting balances from one currency to another via a third common currency.

39Q) How do you eliminate intercompany transactions?

Ans: Intercompany transactions are eliminated through plug account.

40Q) What is the data lock?

Ans:  A user-controlled mechanism that prevents changes to data according to specified criteria, such As period or scenario.

41Q) Which type of tasks can you define in a task list?

Ans: Data forms and data grids.

42Q) What is the difference between data form & data grid?

Ans: Point of view is restricted in data from.

Data form supports for export& import of XL.

We will add and delete the data forms.

43Q) What is the Tolerance amount?

Ans: The tolerance amount is small discrepancies in the amounts in Intercompany Transactions.

44Q) What are the types of consolidation and methods of consolidation?

Ans:

Types:

Legal Consolidation

Geographical Consolidation

Consolidation by entity

Methods:

Consolidate

Consolidate all

Consolidate all with data.

45Q) What is the block locking system?

Ans: Analytic services (or Essbase Services) locks the block and all other blocks which contain the Childs of that block while calculating this block is block locking system.

46Q) Is it possible to organize one-to-many mapping in FDM?

Ans: Yes, it is possible.

47Q) What are the types of mapping?

Ans: Explicit, in, like, and between mapping.

48Q) How to access the FDM web client?

Ans: Open the Hyperion FDM Web Client by selecting Programs to oracle EPM Financial Data Quality

Management Web Server Components Web Logon.

49Q) Explain the data load process in FDM?

Ans: Please explain about import, export, validate, and check.

50Q) What are the methods to build maps?

Ans: Build maps internally within FDM.

Build maps externally import to fdm.

Copy an existing location map to other locations.

Assign mapped location is a parent to another locations.