Is this a clean installation of the server or did you change anything in the standalone/domain configuration files?
Thanks for replying.
It's a clean installation. I used Management Console to add jboss-ejb.policy under Configuration->Security->Security Domain to solve the 1st error.
For the EJB Timer Service, I tried to configure the path=timer-service-data relative-to=jboss.server.data.dir under Configuration->Container->EJB 3->Timer Service but kept getting "Unknown Error".
You don't actually have to change/add anything for deploying a standard EJB application. The errors you have run into shouldn't have happened based on what I see in that minimal error output. Can you add a bit more details about your application, like what it contains etc... and what the EJBs look like and please attach the complete server.log (for attaching you can click on the "Use advanced editor" link on the top right corner of your message window. The advanced editor has the feature to upload files).