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.
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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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