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Microsoft MB3-413 Exam -

Free MB3-413 Sample Questions:

Q: 1 When posting transactions to Payroll from Project Accounting, which of the following setup options must be marked?
A. Default unit costs from budget
B. Use pay codes for unit cost
C. Default unit costs from employee
D. Default profit type from employee
Answer: B

Q: 2 Which of the following must be set up before Miscellaneous and Equipment transactions can be entered in Project Accounting?
A. General Ledger accounts
B. Miscellaneous IDs and Equipment IDs
C. Rate Table
D. Overhead accounts
Answer: B

Q: 3 Which of the following statements is true regarding the Billing Format Setup window?
A. It's an easy way to format your invoices instead of using Report Writer.
B. I can group multiple billing invoice reports to be printed together.
C. I can specify which notes I want to print on an invoice.
D. It's not used for Project Accounting.
Answer: B

Q: 4 Fill in the blank. Change Order tracking must be activated per____?
A. Project
B. Customer
C. Cost Category
D. Employee
Answer: A

Q: 5 Labels for User Defined fields in the Project Setup - Label Options window are displayed in which of the following windows?
A. Inquiry windows
B. Master record windows
C. Transaction entry windows
D. They are not displayed unless added with Dynamics GP Modifier.
Answer: B

Q: 6 Which setup option may NOT be changed after transactions have been either saved in a batch or posted?
A. Reporting period
B. Next document number
C. Default Profit Types from
D. Default Billing Note from
Answer: A

Q: 7 In the Miscellaneous Log Setup window, the default profit type may come from which of the following options? Choose the 3 that apply.
A. Budget
B. Contract
C. Cost Category
D. Miscellaneous
Answer: A, C, D

Q: 8 Since Project Accounting uses the Dynamics GP Purchase Order Processing module to manage purchasing transactions, which of the following is true?
A. There are no implications as a result of this relationship.
B. If Project Accounting is installed all users must use the Project version of the purchase transaction windows.
C. To view the Project button to the Purchasing Setup window users must be granted access to the Alternate Dynamics GP window for Purchasing Setup.
D. Purchasing transactions must be entered for projects whenever the Project Accounting purchase transaction entry windows are enabled.
Answer: C

Q: 9 When a new employee is added to the system, which type of information is automatically updated for any established Employee Rate Table?
A. No data is automatically updated
B. Profit type
C. Profit percentage
D. Hourly rate and overhead
Answer: A

Q: 10 Which of the following types of information may be copied from a project template? Choose the 3 that apply.
A. Access List
B. Billing Cycle ID
C. Budgets
D. Unposted transactions
Answer: A, B, C

Q: 11 Which window determines how the periods are configured in the periodic budget window?
A. System Setup
B. Project Setup
C. Account Format Setup
D. Fiscal Period Setup
Answer: D

Q: 12 Which of the following statements best describe the information used to create a Position Rate Table?
A. Each position can only be assigned to one profit type.
B. Each position can be used with multiple profit types.
C. Each position must be assigned to an employee and a profit type.
D. Each position may only be assigned to one employee and profit type.
Answer: B

Q: 13 What are the two places rate tables can be assigned?
A. Project and Budget
B. Project and Customer
C. Contract and Budget
D. Billing Setup and Timesheet Setup
Answer: A

Q: 14 Revenue is recognized based on percentage of completion for which of the following accounting methods?
A. When Billed and Completed
B. When Performed and When Billed
C. Effort-Expended and Cost-to-Cost
D. Cost-to-Cost, Effort-Expended, and Completed
Answer: C

Q: 15 Which of the following is NOT an available default source of posting accounts for a project budget?
A. User
B. Contract
C. Customer
D. Cost Category
Answer: A

Q: 16 What kind of revenue recognition is calculated individually based on each cost category used in a project?
A. Divisional
B. Combined
C. Augmented
D. Segmented
Answer: D

Q: 17 The cost tax schedule can be assigned to which of the following transaction types in the cost category maintenance window? Choose the 2 that apply.
A. Timesheet
B. Miscellaneous
C. Purchases/Material
D. Employee Expense
Answer: C, D

Q: 18 Cost Plus or Fixed Price projects can use which of the following profit types?
A. Billing Rate, Markup Percent or None
B. Total Profit, Billing Rate or Markup Percent
C. Percent of Baseline or Percent of Actual
D. Markup Percent, Profit per Unit Fixed, or Total Profit
Answer: C

Q: 19 When using a Fixed Price project the Cost Owner source is only available as a posting source for which two General Ledger posting types?
A. Contra Account and Overhead
C. Cost of Goods Sold and Contra Account
D. Project Revenue and Project Losses
Answer: A

Q: 20 How many billing cycles may be assigned to a project?
A. 1
B. One for each budget on a project
C. 5
D. Unlimited
Answer: D

Q: 21 Billing cycles can use which of the following frequencies? Choose the 3 that apply.
A. Daily, weekly, and monthly
B. Length of contract
C. Quarterly
D. Annually
Answer: A, C, D

Q: 22 Which of the following describes the composition of the Project Amount?
A. Budgeted revenue + budgeted costs + applicable fees
B. Project fees + service fees + retention fees
C. Budgeted costs + retainer fee + project fees
D. Budgeted revenue + service fees + project fees
Answer: D

Q: 23 The Effort-Expended accounting method determines percentage of completion based on what attribute?
A. Budgeted cost amount
B. Budgeted quantity
C. Vendor
D. Rate tables
Answer: B

Q: 24 In the PA Employee Options window when Files Employee Expense is marked and Allow Vendor for Purchase Order is unmarked which of the following is most true?
A. Employee Expense transactions can be entered for the employee but, they will not post to Payables Management module.
B. These boxes have no bearing on any transaction type.
C. Employee Expense transactions can be entered for the employee, but Purchase Orders cannot be entered for the corresponding vendor.
D. The employee will not have a vendor record established in Payables Management and they won't be able to enter employee expenses.
Answer: C

Q: 25 In which of the following situations may a cost category NOT be marked as Inactive?
A. Cost categories may not be marked as Inactive.
B. Cost category has been created but not assigned to a budget.
C. Cost category has been assigned to a budget but transactions have not been entered.
D. Cost category has been assigned to a budget and there are existing unposted transactions.
Answer: D

Q: 26 Which of the following types of information can NOT be changed by using a change order?
A. Forecast Total Cost
B. Baseline Total Cost
C. Fee Amount
D. Committed Cost
Answer: D

Q: 27 Which statement best describes how the Accept Replacements option for rate tables in the Project Billings Settings and the Budget Rates windows function?
A. It allows/disallows line item changes to be reflected on the selected project.
B. It works in conjunction with the "Replace Rate Table on projects with this one" option in the rate table wizard.
C. It allows/disallows users to change from an employee to position rate table on the project.
D. It allows/disallows users to make changes to the rate when entering transactions.
Answer: B

Q: 28 When the "Closed to Project Costs" box is marked for contract X which of the following statements is true? Choose the 2 that apply.
A. No cost transactions can be entered for any projects assigned to Contract X.
B. No cost transactions can be entered for any contracts.
C. Customer Adam Park may not close any projects.
D. Cost transactions that were saved in a batch for Contract X cannot be posted.
Answer: A, D

Q: 29 What Fee is exclusively for Cost Plus and Fixed Price Projects?
A. Service Fee
B. Special Fee
C. Retainer Fee
D. Retention Fee
Answer: D

Q: 30 Billing cycles may be assigned at which of the following Project Accounting hierarchical levels?
A. Contract and project only
B. Customer and project only
C. Customer and contract only
D. Customer, project and contract
Answer: D

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