Microsoft Dynamics 365 Finance Functional Consultant (MB-310) Free Practice Test
Question 1
You need to determine the root cause for User1's issue.
Which configuration options should you check? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Which configuration options should you check? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Correct Answer:
Explanation:
Question 2
You are configuring Dynamics 365 Finance.
You need to configure the system to generate recurring service invoices to customers.
Which four actions should you perform in sequence? To answer, move the appropriate actions from the list of actions to the answer area and arrange them in the correct order.
You need to configure the system to generate recurring service invoices to customers.
Which four actions should you perform in sequence? To answer, move the appropriate actions from the list of actions to the answer area and arrange them in the correct order.
Correct Answer:
Explanation:
Question 3
The posting configuration for a purchase order is shown as follows:
Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic.
NOTE: Each correct selection is worth one point.
Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic.
NOTE: Each correct selection is worth one point.
Correct Answer:
Explanation:
Question 4
The controller at a company has multiple employees who enter standard General ledger journals. The controller wants to review these journal entries before they are posted. Currently, journals entries are posted without review.
You need to configure Dynamics 365 Finance to help set up a system led review process to meet the controller's needs.
Which functionality should you configure?
You need to configure Dynamics 365 Finance to help set up a system led review process to meet the controller's needs.
Which functionality should you configure?
Correct Answer: B
Question 5
You are a consultant who is implementing Dynamics 365 Finance in your organization.
You need to set up currencies and exchange rates for a client.
Which three actions should you perform in sequence? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.
You need to set up currencies and exchange rates for a client.
Which three actions should you perform in sequence? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.
Correct Answer:
Explanation:
Question 6
You plan to manage delinquent customers by monitoring the collection process in Dynamics %5 Finance.
You need to use the Collections list pane to monitor the collection process. What must you do first?
You need to use the Collections list pane to monitor the collection process. What must you do first?
Correct Answer: D
Question 7
A company makes frequent payments to its vendors by using various due dates and discounts.
You need to set up and create a vendor payment by using a payment proposal.
In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.
You need to set up and create a vendor payment by using a payment proposal.
In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.
Correct Answer:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/cash-bank-management/tasks/vendor-payment- overview
Question 8
You need to identify why the sales orders where sent to customers.
Which configuration allowed the sales orders to be sent? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct select is worth one point.
Which configuration allowed the sales orders to be sent? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct select is worth one point.
Correct Answer:
Explanation:
Question 9
Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question in this section, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are managing credit and collections.
You need to set up mandatory credit limits for all customer documents.
Solution: Select the Balance + All credit type on the Accounts receivable parameters form.
Select the Mandatory credit limit check box on the Customers form.
Does the solution meet the goal?
After you answer a question in this section, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are managing credit and collections.
You need to set up mandatory credit limits for all customer documents.
Solution: Select the Balance + All credit type on the Accounts receivable parameters form.
Select the Mandatory credit limit check box on the Customers form.
Does the solution meet the goal?
Correct Answer: B
Question 10
D18912E1457D5D1DDCBD40AB3BF70D5D
A customer uses the sales tax functionality in Dynamics 365 Finance.
The customer reports that when a sales order is created, sales tax does not calculate on the line.
You need to determine why sales tax is not calculated.
What are two possible reasons? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
A customer uses the sales tax functionality in Dynamics 365 Finance.
The customer reports that when a sales order is created, sales tax does not calculate on the line.
You need to determine why sales tax is not calculated.
What are two possible reasons? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
Correct Answer: A,C
Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).
Question 11
You are implementing Dynamics 365 Finance.
The company charges a convenience cost of $1S foe payments received from customers as an electronic fund transfer (EFT). The company also charges 10 percent interest on invoices that are not paid within the 30-day net terms You need to configure the system Which option should you configure? To answer, select the appropriate options in the answer area NOTE: Each correct selection is worth one point.
The company charges a convenience cost of $1S foe payments received from customers as an electronic fund transfer (EFT). The company also charges 10 percent interest on invoices that are not paid within the 30-day net terms You need to configure the system Which option should you configure? To answer, select the appropriate options in the answer area NOTE: Each correct selection is worth one point.
Correct Answer:
Explanation:
Question 12
Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question in this section, you will NOT be able to return to it As a result, these questions will not appear in the review screen.
You manage a Dynamics 365 Finance implementation.
You must provide the budget versus actual reporting in near real time.
You need to configure the ledger budgets and forecasts workspace to track expenses over budget and revenue under budget Solution: Select organization hierarchy from the Configure my workspace form. Set an expense budget threshold percent.
Does the solution meet the goal?
After you answer a question in this section, you will NOT be able to return to it As a result, these questions will not appear in the review screen.
You manage a Dynamics 365 Finance implementation.
You must provide the budget versus actual reporting in near real time.
You need to configure the ledger budgets and forecasts workspace to track expenses over budget and revenue under budget Solution: Select organization hierarchy from the Configure my workspace form. Set an expense budget threshold percent.
Does the solution meet the goal?
Correct Answer: B
Question 13
A company that sells computer equipment uses Microsoft Dynamics 365 Finance. The company is creating bundles that include a computer and a three-year warranty.
The company configures revenue recognition.
You need to configure revenue types for the bundle components.
Which revenue type should you use? To answer, drag the appropriate revenue types to the correct components. Each revenue type may be used once, more than once, or not at all. You may need to drag the split bar between panes or scroll to view content.
NOTE: Each correct selection is worth one point.
The company configures revenue recognition.
You need to configure revenue types for the bundle components.
Which revenue type should you use? To answer, drag the appropriate revenue types to the correct components. Each revenue type may be used once, more than once, or not at all. You may need to drag the split bar between panes or scroll to view content.
NOTE: Each correct selection is worth one point.
Correct Answer:
Explanation:
Question 14
A company wants to track balance sheet accounts 10000..39999 by using different dimensions than their profit and loss accounts 40000..99999. The company wants to track the Customer financial dimension for profit and loss accounts.
The company sets up the following structure:
Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic. NOTE: Each correct selection is worth one point.
The company sets up the following structure:
Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic. NOTE: Each correct selection is worth one point.
Correct Answer:
Explanation:
