Oracle Fast Formulas - Practice Exercises

 

Exercise 1: Modular Formula Creation

👉 Task:
Create a Payroll Fast Formula that calculates the basic salary, bonus, and tax using a modular approach. Split the logic into:

• A formula to calculate Bonus

• A formula to calculate Tax

• A main formula that calls both and returns the final net salary

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Exercise 2: Error Handling

👉 Task:
Write a Fast Formula to calculate overtime pay that:

• Takes Overtime Hours and Hourly Rate as inputs.

• Adds error handling to return a meaningful message if Overtime Hours is NULL or negative.

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Exercise 3: Optimize Conditional Logic

👉 Task:
Given the below logic, optimize it using ternary (shorthand IF) statements to improve performance and readability.

text
IF ServiceYears > 10 THEN
   LeaveEntitlement = 30
ELSE
   IF ServiceYears > 5 THEN
      LeaveEntitlement = 25
   ELSE
      LeaveEntitlement = 20
   ENDIF
ENDIF

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Exercise 4: Avoid Hardcoding

👉 Task:
Create a formula that calculates allowance based on Grade.
Store the Grade-Amount mapping in a User-Defined Table (UDT) instead of hardcoding the amounts in the formula.

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Exercise 5: Test with Real Data

👉 Task:
Test one of your existing Payroll Fast Formulas with real employee data.

• Note down any performance issues.

• Identify parts of the formula that can be optimized (for example, reducing repeated calculations).

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Bonus Challenge: Version Control

👉 Task:
Implement a version history table for your formula updates.

• For each formula update, record:

  • Formula Name

  • Version Number

  • Date of Change

  • Summary of Changes