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Microsoft MB3-532 Exam -

Free MB3-532 Sample Questions:

Q: 1 Fill in the blank. Change Order tracking must be activated per____.
A. Project
B. Customer
C. Cost Category
D. Employee
Answer: A

Q: 2 User setup options in Project Accounting may be used to restrict changes to the following information during cost or billing transaction entry? Choose the 2 that apply.
A. Billing Rate
B. Billing Type
C. Project Type
D. Billing Cycle ID
Answer: A, B

Q: 3 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: 4 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: 5 Which of the following statements is true regarding the Billing Format Setup window?
A. It is 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 is not used for Project Accounting.
Answer: B

Q: 6 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: 7 Which of the following best describes how the account sources under Microsoft Dynamics GP - Tools - Setup - Project - Project are used?
A. They are not used.
B. To keep track of the accounts.
C. They are the General Ledger account sources for any project transactions.
D. They are default General Ledger account sources for new projects.
Answer: D

Q: 8 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: 9 After posting transactions what must be done before the Combined History Inquiry window displays the information?
A. A filter must be set up.
B. Fees must be billed.
C. The Combined History Utility must be used.
D. Nothing
Answer: C

Q: 10 Which of the following describes the composition of the Project Amount field displayed in the Project Maintenance window?
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: 11 When a Customer ID is added to the Third Party Customer List for a Project which of the following is true?
A. The newly added customer may be billed for the project.
B. Drop-ship purchase orders for the project may only use the Third Party customer and the original customer.
C. The original customer associated with the project can no longer be billed.
D. The customer may see the other customer's projects.
Answer: A

Q: 12 What status must a Project have in order to change the 'Forecast' amounts or quantity of a budget?
A. Open
B. Closed
C. Estimate
D. Completed
Answer: A

Q: 13 Time and Materials projects can NOT use which of the following posting distribution types? Choose the 2 that apply.
A. Overhead
B. Project Loss
C. Work in Progress
D. Earnings in Excess of Billings
Answer: B, D

Q: 14 If an organization is continually adding new employees to work on projects and would like to have them setup with billing rates that correlate to their role in the company, what would be the optimal method for assigning billing rates for Time and Materials projects?
A. Assign billing rates on each budget
B. Use a Position Rate Table
C. Use an Employee Rate table
D. Use a template with billing rates on each budget
Answer: B

Q: 15 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: 16 How are the begin and end dates for a project determined?
A. By entering the dates in the Project Maintenance window.
B. They default from the user date.
C. The begin and end dates roll down from the contract.
D. The earliest begin and latest end dates of the associated budgets are used.
Answer: D

Q: 17 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: 18 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: 19 What Fee is exclusively for Time and Material Projects?
A. Project Fee
B. Special Fee
C. Service Fee
D. Retention Fee
Answer: C

Q: 20 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: 21 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: 22 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: 23 Which of the following posting distributions are NOT available for Fixed Price or Cost Plus projects? Choose the 2 that apply.
A. Overhead
B. Unbilled Project Revenue
C. Billings in Excess of Earnings
D. Unbilled Accounts Receivable
Answer: B, D

Q: 24 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: 25 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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