Published: December 23, 2014
Languages: English, Chinese (Simplified), Japanese
Audiences: IT professionals
Technology: Microsoft Dynamics AX
Credit toward certification: Specialist

Skills measured
This exam measures your ability to accomplish the technical tasks listed below. The percentages indicate the relative weight of each major topic area on the exam. The higher the percentage, the more questions you are likely to see on that content area on the exam. View video tutorials about the variety of question types on Microsoft exams.

Please note that the questions may test on, but will not be limited to, the topics described in the bulleted text.

Do you have feedback about the relevance of the skills measured on this exam? Please send Microsoft your comments. All feedback will be reviewed and incorporated as appropriate while still maintaining the validity and reliability of the certification process. Note that Microsoft will not respond directly to your feedback. We appreciate your input in ensuring the quality of the Microsoft
Certification program.

If you have concerns about specific questions on this exam, please submit an exam challenge.

If you have other questions or feedback about Microsoft Certification exams or about the certification program, registration, or promotions, please contact your Regional Service Center.

Configure Microsoft Dynamics AX 2012 R3 (25–30%)
Set up the General Ledger, chart of accounts, and journals
Create a chart of accounts; create and categorize main accounts; identify main account types; create financial dimensions and dimension sets; configure account structures; create advanced rule structures; create organizational units and hierarchies; create fiscal calendars, years, and periods; create date intervals; create reason codes; define journal names; define allocation rules and allocation basis; create system accounts; create journal texts; set up intercompany accounting; define General Ledger parameters
Define cash and bank management and procedures
Create bank transaction types and groups; define bank parameters; create payment purpose codes, bank groups, and bank accounts; define check layouts
Set up Accounts Payable and Accounts Receivable
Create payment schedules and terms, create a payment day, define cash discounts and payment fees, create payment methods, create vendor accounts, create vendor groups, define vendor posting profiles, assign a vendor posting profile, form setup and print management, define matching policies and tolerances, create charges and charge groups, define aging periods
Set up currencies and sales tax
Set up currencies, currency types, and exchange rates; create ledger posting groups; create sales tax authorities; create sales tax settlement periods; create sales tax codes; create sales tax groups; set up item sales tax groups; set up a sales tax jurisdiction

Manage Microsoft Dynamics AX 2012 R3 (25–30%)
Manage General Ledger daily and periodic procedures
Create a General Ledger journal, post multiple journals, approve journals, create a voucher template, create a periodic journal, reverse a General Ledger transaction, manage journal transaction inquiries and reports, create journal controls, revalue foreign currency, process financial consolidation, post a sales tax payment
Manage Accounts Payable daily and periodic procedures
Create vendor invoices, create invoice journals, revalue foreign currency, generate vendor payments, manage vendor postdated checks
Manage Accounts Receivable daily and periodic procedures
Create customer invoices, create free text invoices, revalue foreign currency, apply customer payments, manage customer collections
Manage commitment accounting and cash flow
Configure dependent ledger accounts, set up cash flow forecasting, define a cash flow forecast budget model, create and calculate cash flow transactions
Manage advanced payments
Set up bridge accounts, manage electronic vendor and customer payments, manage centralized payments and prepayments (deposits), administer a bill of exchange, manage direct debit mandates
Maintain bank accounts
Checks and deposit slips, void and refund checks, manage bank remittance and payment reversals, reconcile a bank account

Define and manage budgets (15–20%)
Plan budgets
Identify budget components, identify budgeting methodologies, create organizational hierarchies, define budget stages, define budget allocation terms, configure budget plans, configure budget allocation schedules, configure support for budget planning templates
Control budgets
Plan for budget controls; identify budget control components; set up, create, and revise budgets; define the budget funds available calculation; define budget cycles; create budget control rules and budget groups; manage budget reporting; manage integrated budgeting; create budget transfers
Create basic budgets
Define budget dimensions, create budget models and codes, create budget register entries, define and create encumbrances, manage purchase order encumbrances, process year-end purchase orders

Configure and manage Fixed Assets (20–25%)
Configure the Fixed Assets module
Set up the Fixed Assets module, create value models, create Fixed Asset groups, set up Fixed Asset parameters, manage reason codes in the Fixed Assets module, manage depreciation methods and conventions, manage depreciation books, manage provision types and bonus depreciation, update depreciation conventions for a depreciation book, set up depreciation profiles
Set up assets
Identify Fixed Assets module components; manage Fixed Asset forms; set up assets in the Fixed Assets module; lend assets; assign bar codes to assets, budget assets; integrate other modules with Fixed Assets
Manage asset transactions
Identify typical Fixed Asset transaction types; record acquisitions and acquisition proposals; create and acquire Fixed Assets from purchase orders; record depreciation, value adjustments, and disposals; manage transaction reversals; manage replacement costs and update insured values; copy Fixed Assets and change Fixed Asset groups; manage Fixed Asset additions

QUESTION 1
You need to create a fixed asset that records depreciation quarterly.
Which form should you use to configure the period frequency for posting depreciation?

A. Value models
B. Depreciation profiles
C. Special depreciation allowance
D. Depreciation books

Answer: A

QUESTION 2
Which three methods can you use to assign bar codes to fixed assets? Each correct answer presents a complete solution.

A. Automatically assign the bar codes when you create fixed assets.
B. Assign the bar codes to fixed assets groups.
C. Automatically assign the bar codes based on the fixed asset journal type.
D. Assign the bar codes to current fixed assets.
E. Manually assign the bar codes when you create fixed assets.

Answer: A,B,D

QUESTION 3
You need to configure a workflow to approve all budget amounts at the line level.
Which workflow configuration type should you use?

A. Budget register entry workflow
B. Ledger fixed assets budget journal workflow
C. Budget plan workflows
D. Budget account entry workflow

Answer: A

QUESTION 4
You need to ensure that you have the most current data to manage customer collections.
What should you create first?

A. A customer account statement
B. A customer balance list
C. A customer aging snapshot
D. A customer pool

Answer: B

QUESTION 5
Which two elements are required to create a budget plan in Microsoft Dynamics AX 2012? Each correct answer presents part of the solution.

A. Budget plan priority
B. Budget plan preparer
C. Budget planning user group
D. Budget planning process

Answer: A,C

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Published: April 28, 2013
Languages: English
Audiences: Information workers
Technology: Microsoft Dynamics AX 2012 R2
Credit toward certification: MCP, Microsoft Dynamics Certified Technology Specialist

Skills measured
This exam measures your ability to accomplish the technical tasks listed below. The percentages indicate the relative weight of each major topic area on the exam. The higher the percentage, the more questions you are likely to see on that content area on the exam. View video tutorials about the variety of question types on Microsoft exams.

Please note that the questions may test on, but will not be limited to, the topics described in the bulleted text.

Do you have feedback about the relevance of the skills measured on this exam? Please send Microsoft your comments. All feedback will be reviewed and incorporated as appropriate while still maintaining the validity and reliability of the certification process. Note that Microsoft will not respond directly to your feedback. We appreciate your input in ensuring the quality of the Microsoft Certification program.

If you have concerns about specific questions on this exam, please submit an exam challenge.

If you have other questions or feedback about Microsoft Certification exams or about the certification program, registration, or promotions, please contact your Regional Service Center.

Manage projects (35-40%)
Set up projects
View a list of projects, edit project details, change project groups, specify project ID numbers, define project hierarchies, set report sort fields, create a new project by using the Project Copy Wizard, create and rename project stages
Set up projects of different types
Create time and material projects, create fixed-price projects, create internal projects, create cost projects, create investment projects, create time projects, create and configure project groups
Post project transactions
Define categories and category groups; set up cost prices, sales prices, and price groups; define line properties; define and enter project hour transactions, project expense transactions, and project item transactions; post project hour journals and timesheets by using effective labor rate (ELR); charge an invoice journal; create free text invoices; enter items in an inventory journal by using the item requirements form; define purchase orders and sales orders; define and enter beginning balances; review and adjust project transactions; set up journal approval and descriptions; set up ledger posting
Manage project timesheets
Set up timesheet periods, set up timesheet-related parameters, configure timesheet workflows, set up effective labor rate (ELR), set up My Favorites, set up My Delegates, create and approve timesheets, report missing timesheets
Post project invoices
Describe invoicing project concepts; set up project invoicing; set up project contracts; define billing requirements for transactions; create, adjust, and post invoice proposals; invoice on-account transactions; view posted invoices; reverse transactions by using credit notes
Manage project budgeting
Review general ledger budgeting and forecasting concepts, define the budget approval workflow, create an original budget, configure project budget properties, allocate budgets across fiscal periods and years, review budget impact and balances, review and approve budgets, manage committed costs, carry forward budget amounts at year end
Manage project inquiries and reports
Access project information by using the project control forms; export lists to Microsoft Excel; generate reports on project base data, forecasts, revenue, and transactions

Manage advanced projects (30-35%)
Configure project validation
Explain project validation, set up project validation parameters, enable validation for workers, set up validation groups, set up project validation category assignments
Configure project forecasting
Define forecast models; enter forecasts for hours, expenses, fees, items, and on-account payments; set up forecast scheduling; define forecasting on hours
Manage advanced project invoicing
Set up project invoicing parameters; set up funding sources, limits, and rules and allocations; set up fixed-rate agreements; manage grants; approve or revoke invoice proposals
Track work in process (WIP) for internal projects
Configure internal projects to include WIP, configure investment projects to track WIP and capitalize costs
Manage advanced time and material projects
Describe a time and material project with WIP, run a time and material project with WIP, describe post costs forms, describe time and material project with accruals, create a time and material project with accruals, reverse accrued revenue
Manage advanced fixed-price projects
Set up estimate period types, set up cost templates, set up estimate projects, create estimates for fixed-price projects, create a fixed-price project by using the completed contract method, create a fixed-price project by using the completed percentage and sales value method, create a fixed-price project by using the completed percentage and production plus (+) profit method

Manage projects for service industry (30-35%)
Manage Work Breakdown Structure (WBS)
Create and modify a WBS template, create a project WBS, set up rate cards
Manage project quotations
Create project quotations; create a WBS for a quote; commit resources for the quotation; approve, confirm, and print the quote; transfer the quote to a new or an existing project
Set up resource scheduling
Configure resource competencies, define project requirements, assign resources to a project based on resource availability, assign resources to a project based on project demand, create a project integrated with Microsoft Project Server 2010, run inquiries and reports on resource assignment and utilization
Set up billing rules for project contracts
Create a project contract with the milestone billing rule, create a project contract with the time and material billing rule, create a project contract with the progress billing rule, create a project contract with the fee billing rule, create a project contract with the unit of delivery billing rule, attach invoice formats to project contracts
Manage project invoicing
Initiate invoice processing; create, manage, reformat, submit, and post invoice proposals; create and post a credit note for the posted project invoice; explain a customer advance; explain customer payment retention; explain vendor payment retention
Manage pay when paid (PWP) subcontracting
Set up PWP terms, create and invoice project purchase orders with PWP terms, post customer invoices, receive customer payments, release vendor payments, inquire on PWP transactions, print PWP reports
Manage costs
Explain indirect costs and indirect cost components, define the rules for indirect cost calculation, set up and assign indirect cost components, create cost transactions, split indirect costs between multiple funding sources, adjust indirect costs

QUESTION 1
Which statement about the effective labor rate (ELR) feature is true?

A. Effective labor rate is not enabled by default for all workers and can be enabled for the workers you select.
B. Effective labor rate is enabled when a cost price amount and calendar are specified for that worker.
C. Effective labor rate is enabled by default for all workers and can be disabled for the workers you select.
D. Effective labor rate is enabled by default for all workers and cannot be disabled.

Answer: A

QUESTION 2
What is the purpose of the My Delegates feature?

A. To designate a linked worker in another legal entity
B. To designate multiple workers assigned to the same timesheet
C. To designate a worker who may approve a timesheet on a worker’s behalf
D. To designate a worker who may submit a timesheet on a worker’s behalf

Answer: D

QUESTION 3
Based on which method do time and material projects create invoices?

A. Monthly payments
B. Predefined milestones in the project
C. Transactions posted to the project
D. Project phases

Answer: C

QUESTION 4
Your company negotiates a project contract worth 120,000 USD with a customer. To maintain an acceptable profit margin,the budget for the project is set at 85,000 USD.
The project manager wants to manage the project as three related subprojects,so you divide the total budget into 25,000 USD,40,000 USD,and 20,000 USD. When you create the root project,you create the original budget and submit the budget to workflow for approval.
How should you manage the budgeting for the entire project hierarchy?

A. Manage the budgeting only at the subproject level in the project hierarchy.
B. Manage the budgeting as a single unit for the entire project hierarchy.
C. Manage the budgeting separately for each project type in the project hierarchy.
D. Manage the budgeting separately for each subproject in the project hierarchy.

Answer: B

QUESTION 5
Your company invoices in U.S. dollars on a project for a company whose currency is euros.
To avoid any issues with currency exchange rate fluctuations,you agree on a fixed currency exchange rate for invoices.
How should you set up the project?

A. Specify a fixed-rate agreement on the project.
B. Specify a fixed exchange rate on the invoice proposal.
C. Specify a fixed exchange rate on the sales order.
D. Specify a fixed-rate agreement on the project contract.

Answer: D

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