Microsoft MB7-701 Exam : Microsoft Dynamics NAV 2013 Core Setup and Finance

Microsoft MB7-701 exam
  • Exam Code: MB7-701
  • Exam Name: Microsoft Dynamics NAV 2013 Core Setup and Finance
  • Updated: Aug 26, 2026
  • Q & A: 78 Questions and Answers
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Microsoft MB7-701 Exam Syllabus Topics:
SectionObjectives
Core Financial Processes- Accounts Payable and Receivable
  • 1. Vendor and customer management
    • 2. Invoice and payment processing
      - Cash and bank management
      • 1. Bank account setup and reconciliation
        • 2. Cash flow management
          Inventory and Resource Management- Costing and valuation
          • 1. Inventory valuation and adjustments
            • 2. Costing methods
              - Inventory setup
              • 1. Item cards and categories
                • 2. Inventory posting setup
                  Reporting and Analysis- Financial reporting
                  • 1. Account schedules
                    • 2. Standard financial statements
                      - Data analysis tools
                      • 1. Business intelligence integration
                        • 2. Dimensions analysis
                          Financial Management Setup- General Ledger configuration
                          • 1. Chart of accounts setup
                            • 2. Posting groups and dimensions
                              - Posting and accounting setup
                              • 1. VAT and tax configuration
                                • 2. Posting setup rules
                                  Microsoft Dynamics NAV Installation and Setup- Company and environment configuration
                                  • 1. User setup and permissions
                                    • 2. Creating and configuring companies
                                      - System requirements and installation planning
                                      • 1. Installation components and architecture
                                        • 2. Hardware and software prerequisites
                                          Microsoft Dynamics NAV 2013 Core Setup and Finance Sample Questions:

                                          Question 1

                                          You need to configure Microsoft Dynamics NAV to register when specific users log on and for how long they stay logged on. Which page should you use?

                                          A. Permission Set
                                          B. Application Setup
                                          C. User Setup
                                          D. Users


                                          Question 2

                                          You need to turn in your periodical value added tax (VAT) declaration. Where can you report the tax amounts to be settled?

                                          A. VAT registers
                                          B. VAT exceptions
                                          C. VAT statements
                                          D. VAT adjustments


                                          Question 3

                                          A company requires a 10% prepayment for all new customers before shipping their orders. Which steps should you take to enable this?

                                          A. Create a customer price group with a Prepayment ? of 10 and set the Blocked field to Ship on the Customer Card window.
                                          B. Create a customer posting group with a Prepayment % of 10 and enable Check Prepmt. When Posting in the General Ledger Setup window.
                                          C. Create a customer price group with a Prepayment ? of 10 and select Check Prepmt. WhenPosting in the Sales & Receivables Setup window.
                                          D. Create a customer posting group with a Prepayment % of 10 and enable Check Prepmt. WhenPosting in the Sales & Receivables Setup window.


                                          Question 4

                                          Users in the accounting department can enter journal data at the same time into Microsoft Dynamics NAV.
                                          How do you ensure that each user's work is isolated from other users during data entry?

                                          A. Create a different number series for each user.
                                          B. Create a separate journal template for each user, with each template having a different Source Code.
                                          C. Create a separate journal batch for each user.
                                          D. No additional configuration is required because each user's work is automatically isolated in Microsoft Dynamics NAV based on their User I


                                          Question 5

                                          You need to zoom in on the Item List page in the RoleTailored client so that you can view all available fields and their values at the same time.
                                          What should you do?

                                          A. Expand the Table Fields FastTab on the About This Page window
                                          B. Right-click anywhere on the page and select Zoom
                                          C. Press SHIFT+CTRL+Z
                                          D. Press CTRL+Z


                                          Solutions:

                                          Question 1
                                          Answer: C
                                          Question 2
                                          Answer: D
                                          Question 3
                                          Answer: C
                                          Question 4
                                          Answer: C
                                          Question 5
                                          Answer: A

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