Microsoft Dynamics 365 Finance (MB-310) Certification Sample Questions

The purpose of this Sample Question Set is to provide you with information about the Microsoft Dynamics 365 Finance Functional Consultant exam. These sample questions will make you very familiar with both the type and the difficulty level of the questions on the MB-310 certification test. To get familiar with real exam environment, we suggest you try our Sample Microsoft Dynamics 365 Finance Certification Practice Exam. This sample practice exam gives you the feeling of reality and is a clue to the questions asked in the actual Microsoft Certified - Dynamics 365 Finance Functional Consultant Associate certification exam.

These sample questions are simple and basic questions that represent likeness to the real Microsoft MB-310 exam questions. To assess your readiness and performance with real time scenario based questions, we suggest you prepare with our Premium Microsoft Dynamics 365 Finance Certification Practice Exam. When you solve real time scenario based questions practically, you come across many difficulties that give you an opportunity to improve.

Microsoft MB-310 Sample Questions:

01. Reference Scenario: MB-310 Case 6 — Brightwater Vertical Farms

You need to meet the netting requirement and resolve User1's issue.

What should you do?

a) Run Settle open transactions for customer C-1050 and mark the open invoices of vendor V-2210

b) Create a netting agreement that pairs C-1050 with V-2210, then process customer and vendor netting monthly

c) Add netting clearing account 155900 to ledger settlement and settle the entries on it

d) Set up centralized payments so that one legal entity pays V-2210 and receives from C-1050

02. Your company uses Cash and bank management in Microsoft Dynamics 365 Finance and wants to automate bank reconciliation. Bank statements must be brought into the system electronically, and statement lines must be matched to bank transactions with as little manual matching as possible.

Which two actions should you perform? Each correct answer presents part of the solution.

a) Configure the cash flow forecast setup for the main account of the bank account

b) Set up a dependent cash flow forecast for a main account

c) Set up the check layout and check number sequence for the bank account

d) Set up a bank statement import, such as ISO20022, BAI2 or MT940, for advanced bank reconciliation

e) Define bank reconciliation matching rules

03. Reference Scenario: MB-310 Case 7 — Corrib Bakehouse

You need to meet the payables requirements for PO-00318 and resolve User4’s issue.

Which two actions should you perform? Each correct answer presents part of the solution.

a) Define a 30 percent prepayment on PO-00318, and then post and pay the prepayment invoice

b) Add a 30 percent miscellaneous charge to PO-00318 and pay it through a vendor payment proposal

c) Apply the paid prepayment to Ardmore’s final invoice for PO-00318 when the oven is invoiced in December

d) Post a vendor invoice for 30 percent of the PO-00318 line amount before the oven arrives

e) Post a vendor payment for the 30 percent and leave it open on Ardmore’s account

04. The finance team at Contoso Ltd. posts a recurring monthly charge in a general journal. The account lines and their proportional split are the same every month, but the total amount changes.

You need to save the voucher as a template so that a user enters only the month's total and the lines are calculated from it.

How should you configure the voucher template?

a) Save it as an Amount template and type the month's total in the Amount field when selecting the template

b) Create a separate Amount template for each monthly total that the team expects to post

c) Save it as an Amount template so that the stored line amounts are applied each month

d) Save it as a Percent template

05. Reference Scenario: MB-310 Case 8 — Kestrel Cycle Distribution

You need to meet the general ledger requirement and resolve User1’s issue.

What should you do?

a) Add default values for Business unit and Department to main account 618100 through a legal entity override

b) Add an advanced rule to the expense account structure that adds a Department segment for 618100

c) Create a ledger account alias for each of the three freight accrual combinations

d) Restrict the allowed Department values for 618100 in the account structure to WH1 and WH2

06. Contoso, Ltd. is in the process of re-evaluating their fixed asset management practices. This is due to recent changes in local legislation affecting depreciation calculations and asset disposal. The company has a diverse portfolio of fixed assets, including buildings, machinery, and vehicles.

These assets are currently managed using Microsoft Dynamics 365 Finance. You need to evaluate the current fixed asset management setup in Dynamics 365 Finance to ensure compliance with the new legislative requirements and optimize the financial reporting process.

What two actions should you perform? Each correct answer presents part of the solution.

a) Review the fixed asset posting profiles so disposal transactions post to the gain and loss accounts the new legislation requires

b) Merge buildings, machinery and vehicles into a single fixed asset group regardless of asset type or location

c) Raise the capitalization threshold so fewer assets are depreciated and asset management is simpler

d) Review and adjust the depreciation profiles to align with the new legislative rules for depreciation calculation.

07. Reference Scenario: MB-310 Case 9 — Northfield Rail Systems

You need to meet the expense management requirements and resolve User4’s issue.

Which two actions should you perform? Each correct answer presents part of the solution.

a) Set up an audit policy that selects expense reports with meals above CAD 90 for review by the audit team

b) Add a policy rule for the Meals category that returns an error above CAD 90

c) Create a policy rule for the Hotel category that gives a warning above CAD 250 per night, so a justification must be entered

d) Add a condition to the expense report workflow that sends reports with a hotel night above CAD 250 to the controller

e) Add a policy rule for the Meals category that gives a warning above CAD 90

08. A company uses Microsoft Dynamics 365 Finance for credit and collections. Customers with several overdue invoices currently receive a separate collection letter for each invoice, and the sales team reports that the volume of letters is straining customer relationships.

Collection letters must continue, but each customer should receive one letter that covers all of its overdue transactions.

What should you recommend?

a) Add collection letter codes to the sequence with fewer days between each letter

b) Remove the collection letter sequence from the customer posting profile

c) Set Ignore payments and credit memos when calculating collection letter code to Yes

d) In Accounts receivable parameters, set Create collection letter per to Customer

09. Reference Scenario: MB-310 Case 10 — Tasman Field Instruments

You need to meet the general ledger requirements and resolve User1’s issue.

What should you do?

a) Set the New voucher field on the PAYACR journal name to the In connection with balance option

b) Change the voucher number sequence used by PAYACR to noncontinuous so that each team’s lines draw a number of their own

c) Create a journal name for each field service team and post each team’s accrual in a journal of its own

d) Set the Detail level on PAYACR to Summary so that each accrual posts as one entry

10. Your organization has subsidiaries across the globe with multiple charts of accounts. They use Microsoft Dynamics 365 Finance for financial consolidation. The subsidiaries operate in different currencies and are not fully owned by the parent company.

You need to evaluate the best method for consolidating financial data that allows for handling multiple charts of accounts, partial ownership, and multi-currency transactions.

Which two methods should you recommend? Each correct answer presents part of the solution.

a) Post every subsidiary's period balances into a consolidation legal entity through intercompany general journals

b) Use Consolidate online, mapping accounts through the consolidation account on each main account or a consolidation account group

c) Use elimination rules to translate each subsidiary's currency and to reduce the balances by the minority ownership share

d) Use Financial reporting with a reporting tree whose Rollup % column carries each subsidiary's ownership percentage

Answers:

Question: 01 Answer: b	Question: 02 Answer: d, e	Question: 03 Answer: a, c	Question: 04 Answer: d	Question: 05 Answer: c
Question: 06 Answer: a, d	Question: 07 Answer: b, c	Question: 08 Answer: d	Question: 09 Answer: a	Question: 10 Answer: b, d

Note: For any error in Microsoft Certified - Dynamics 365 Finance Functional Consultant Associate (MB-310) certification exam sample questions, please update us by writing an email on feedback@edusum.com.