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Cloud Financial Management

AWS tools and services for managing cloud costs.

AWS cloud financial management tools and services for planning, budgeting, and optimizing costs. Covers AWS Budgets, AWS Cost Explorer, AWS Cost and Usage Report, Reserved Instance reporting, and AWS Cost Allocation tags.
5 minutes 5 Questions

Concepts covered: AWS Billing Conductor, AWS Budgets, AWS Cost and Usage Report, AWS Cost Explorer, AWS Marketplace

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CCP - Cloud Financial Management Example Questions

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Question 1

Which of the following is a benefit of using the AWS Cost and Usage Report for cost optimization?

Correct Answer: It provides detailed cost and usage data that can be analyzed to identify cost-saving opportunities and optimize resource utilization.

The AWS Cost and Usage Report provides detailed cost and usage data that can be analyzed to identify cost-saving opportunities and optimize resource utilization. This allows for a deep understanding of where costs are being incurred and helps in making informed decisions to reduce costs. The other options, such as automatic cost optimization, real-time alerts, and built-in cost optimization tools, are not the primary benefits of the Cost and Usage Report itself, but rather additional features or services that may complement the report data.

Question 2

In AWS Cost Explorer, which feature allows you to forecast how much you are likely to spend over the next three months based on your past AWS costs and usage?

Correct Answer: Cost Explorer Forecasting

The Cost Explorer Forecasting feature in AWS Cost Explorer allows you to forecast your likely costs over the next three months based on your historical AWS costs and usage patterns. It uses machine learning algorithms to analyze your past spending and provides a forecast of your future costs. The other options are incorrect because: Cost Explorer Budgets allows you to set custom budgets and receive alerts when your costs exceed certain thresholds, but it does not provide forecasting. Cost Explorer Rightsizing Recommendations suggests changes to your AWS resources to optimize costs, but it does not forecast future spending. Cost Explorer Reserved Instance Utilization Reports help you understand your usage of Reserved Instances, but they do not provide cost forecasting.

Question 3

Which of the following statements about the AWS Cost and Usage Report is accurate?

Correct Answer: It provides detailed cost and usage data that can be used for cost analysis and optimization

The AWS Cost and Usage Report provides detailed cost and usage data that can be used for cost analysis and optimization. It gives you a comprehensive breakdown of your AWS costs and usage, allowing you to identify cost drivers, analyze trends, and make informed decisions to optimize your spending. The other options are incorrect because: the report itself does not automatically optimize resource utilization or reduce costs, it does not generate real-time alerts for cost anomalies, and while it provides data that can be used for cost monitoring and forecasting, it does not offer a preconfigured visual dashboard.

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