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Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate Certification Exam Practice Test Questions, Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate Exam Dumps

Stuck with your IT certification exam preparation? ExamLabs is the ultimate solution with Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate practice test questions, study guide, and a training course, providing a complete package to pass your exam. Saving tons of your precious time, the Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate exam dumps and practice test questions and answers will help you pass easily. Use the latest and updated Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate practice test questions with answers and pass quickly, easily and hassle free!

The Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate certification validates your knowledge and experience in analyzing the business requirements and translating the same into successful business solutions and processes based on the industry’s best practices. The candidates for this certificate must pass two qualifying exams: Microsoft MB-300 and Microsoft MB-310.

The target individuals for this certificate are the professionals working in finance departments. These specialists work in accounts payables, accounts receivable, cost management & cost account, general ledger, budgeting, expenses, and fixed assets. The applicants do not need to fulfill any official prerequisites to earn this certification. However, it is recommended that they work as the Functional Consultants on at least one project or have experience in working with the Functional Consultants who utilize Dynamics 365 Finance. They also should possess the fundamental knowledge of the principles of business accounting as well as financial operations.

Exam Details

The Microsoft MB-300 exam covers the technical skills, such as utilizing the basic functionality & implementation tools; configuring processes, options, & security; authenticating & supporting an identified solution; managing Finance & Operation data. The second test, Microsoft MB-310, focuses on the following skill areas: setting up & configuring financial management; implementing account receivable, collections, credit & revenue recognition; implementing as well as managing expenses & accounts payable. Each exam covers 40-60 questions and the allowed time for their completion is 120 minutes. The question types that may be administered during the delivery of these certification tests include active screen, build list, short answer, best answer, hot areas, multiple choice, drag and drop, and scenario-based. The fee for taking each exam is $165 and registration & scheduling can be completed on the Pearson VUE website.

The students can take the MB-300 exam in English or Japanese while they can sit for the MB-310 test in English only. They can visit the Microsoft platform to explore the available prep resources. These include instructor-led training courses, which are paid, as well as free learning paths. Each certification exam is accompanied by a dedicated instructor-training course that is designed to equip the learners with a thorough understanding of the topics. The candidates can choose between the virtual training courses and a classroom-style learning environment depending on their preferences. The details of the course registration can be found on the official website. The links to the available free learning paths can be also found there.

Exam Topics

Both the MB-300 and MB-310 exams have specific topics that should be covered separately while preparing for the test. The candidates must devote ample time to studying every aspect of these domains. The areas that will be covered in these prerequisite exams are enumerated below:

Microsoft MB-300 Exam

Utilize Common Functionality & Implementation Tools: 15-20%

  • Determine & Utilize Common Finance & Operations Apps Functionality and Features: It requires the skills in explaining case management, use cases for workspaces as well as their capabilities, and the features of the global address book with their use cases.
  • Explain Use Cases for Power Platform Services & Apps: The candidates should be able to establish the use cases for Power Apps, Common Data Service, Power BI, Power Automate, and Power Virtual Agents.

Configure Security, Options & Procedures: 30-35%

  • Implement Security: It requires the skills in explaining duties’ segregation, assigning the users to different security roles, and differentiating between duties, roles, permissions, and privileges.
  • Design & Create Workflows: It includes the skills in describing utilization cases for workflows; designing and creating workflows; customizing workflow properties & elements; customizing workflow assignment hierarchies, queues, as well as workflow parameters, etc.
  • Configure the Features of Organization Administration: It covers the skills in configuring & troubleshooting number sequences and setting up & configuring operating units and legal entities.
  • Configure the Features of System Administration: The examinees should be able to explain the use cases for Microsoft Excel Workbook Designer & Microsoft Dynamics Office add-in.

Manage Finance & Operations Data: 25-30%

  • Manage Data: It requires one’s competence in explaining the use cases for Data Management templates & workspace and use cases for the Dual Write features.
  • Plan the Migration Strategy: It covers the skills in establishing standard migration tools & scenarios within Finance & Operations apps and determining scopes for migrations.
  • Prepare Data for Migration & Migrate Data: It requires your competence in establishing as well as extracting source data and generating field mapping between the target & source data structures.

Validate & Support the Specified Solution: 15-20%

  • Test Solutions: It covers the skills in explaining testing type’s tools as well as automating & managing test cases with RSAT.
  • Implement LCS (Lifecycle Services) tools: It comes with the skills in identifying the opportunities for the reuse of existing assets and differentiating between the roles of LCS such as Owner & Environment Manager.

Microsoft MB-310 Exam

Set Up & Configure Financial Management: 50-55%

  • Explain & Configure Accounts Financial Modules: The skills required include configuring and applying Accrual Schemes; configuring cash flow reports; configuring the Letter of Credit as well as Letter of Guarantee templates; setting up intercompany accounting; creating and configuring account structures, etc.
  • Configure, Collect & Report Taxes: It includes the skills in configuring tax groups, settlement periods, tax codes & jurisdiction.
  • Implement & Test Allocation and Cost Policies: Here the applicants need to demonstrate their proficiency in implementing cost accounting processes, inventory costing versions, as well as item groups. In addition, they need to be able to create and handle Ledger allocation rules; demonstrate utilization of cost accounting terminology; build fiscal calendars, years, and periods.
  • Execute Periodic Procedures: The test takers must possess the expertise in configuring financial period close; determining and demonstrating periodic closing procedures as well as end-of-year procedures; executing bank reconciliation; executing financial consolidation.

Manage & Apply Common Procedures: 20-25%

  • Define & Configure the Account Structure: The learners are required to have the relevant skills in setting up funds; determining and configuring the main account; determining and configuring the financial dimensions & dimension sets; executing financial statements; executing tracking of posted transactions, etc.
  • Implement & Manage the Journals: It includes one’s competence in configuring journal names, creating voucher templates, setting up intercompany accounting, and explaining & configuring journal approvals.
  • Implement Localization & Regulatory Features and Handle Currencies: It includes the skills in setting up legal entity currencies & conversions; configuring currency exchange rate providers; executing foreign currency revaluation procedures; determining which localization & regulatory features to apply to a certain scenario, etc.

Implement Accounts Receivable & Accounts Payable: 20-25%

  • Implement & Manage the Accounts Receivable: The students need to be capable of configuring customer payment setup, accounts receivable charges, and free text invoices.
  • Implement & Manage the Accounts Payable: The individuals should know how to customize invoice validation policies; set up a vendor posting profile; handle invoices, orders, and payments; customize the Vendor Collaboration module; customize vendor payments; customize accounts payable charge.

Handle Fixed Assets & Budgeting: 10-15%

  • Manage & Configure Budgeting Processes: The skills measured include configuring budgeting components, creating budget plans, configuring budget controls, and implementing budget workflows.
  • Implement & Manage Fixed Assets: It requires your competency in configuring fixed asset parameters, creating fixed assets & fixed assets groups, and acquiring depreciating, & disposing of fixed assets.

Job Roles and Salary Outlook

The professionals holding the Microsoft Certified: Dynamics 365 Finance Functional Consultation Associate certification have the potential to grow their careers in a variety of paths and industries. A huge percentage of organizations use at least one Microsoft product, which means there are numerous opportunities to explore in terms of career paths. Some of the job roles that the certificate holders can take up include Microsoft Dynamics 365 Functional Consultants, Microsoft Dynamics 365 Finance & Operations Functional Consultants, Finance Consultant Analysts, Dynamic 365 Finance & Operations Developers, Dynamics 365 Project Managers, and Microsoft Dynamics 365 Development Specialists. The average salary for these positions is $85,000 per annum.

Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate certification exam dumps from ExamLabs make it easier to pass your exam. Verified by IT Experts, the Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate exam dumps, practice test questions and answers, study guide and video course is the complete solution to provide you with knowledge and experience required to pass this exam. With 98.4% Pass Rate, you will have nothing to worry about especially when you use Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate practice test questions & exam dumps to pass.

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