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Your business unit has decided to use AWS for its cloud services for production. Other business units have been AWS for both development and production use cases. You have been asked to provide tools in AWS that can provide recommendations for reducing costs and getting insight into better ways of resource management.

What tools in AWS could you identify? (Select Two)

Stackdriver
Cost Explorer
Recommender
Trusted Advisor

Answer: B,D Explanation:

Every cloud provider has their own approach for billing and cost management. We need to know the three major providers in preparation for the exam. Please refer to this page for a handy table. Tools and Terms

Which of the following are the three ways that we would be able to split up shared costs? (Select Three)

Proportional
Even Split
Complex Split
Indirect
Fixed

Answer: A,B,E Explanation:

There are typically three ways to split up shared costs: Proportional: Based on relative percentage of direct costs Even split: Split total amount evenly across targets

Fixed: User-defined coefficient (the sum of coefficients needs to be 100%)

This page here is perhaps one of the most important pages to review and understand before the exam. Identifying Shared Costs

Which of the following statements would be true regarding FinOps? (Select One)

FinOps ensures that you get the best performance out of every service used in the cloud
FinOps ensures that your financial team manages cloud spending
FinOps ensures you get the most use out of every service used in the cloud
FinOps ensures you get the most value out of every dollar spent in cloud

Answer: D Explanation:

FinOps ensures you get the most value out of every dollar spent in cloud

FinOps ensures you get the most value out of every dollar spent in cloud. FinOps enables a shift ― a combination of systems, best practices and culture ― to increase an organization’s ability to understand cloud costs and make business tradeoffs. In the same way that DevOps revolutionized development by breaking down silos and increasing agility, FinOps increases the business value of cloud by bringing together technology, business and finance professionals with a new set of processes.

Reference this page here What is FinOPs

Which of the following are phases in the FinOPS Lifecycle? (Select Three)

Perform
Operationalize
Implement
Identify
Inform

Answer: B,D,E Explanation:

According to the FinOps Foundation the FinOps journey consists of three iterative phases ― Inform, Optimize and Operate. Any company may be in multiple phases at any time depending on which business unit, application or team is on the journey.

Each major cloud provider labels the platforms ‘allocation metadata’ a specific way. How does AWS name the allocation metadata? (Select One)

“Resource tags”, “Linked Accounts” and “groups”
“Subscription’. ‘Labels” and “billing accounts”
“Resource tags”, “Linked Accounts” and “Organizations”
“Subscriptions”, “resource groups” and “resource tags”

Answer: C Explanation:

“Resource tags”, “Linked Accounts” and “Organizations”; GCP “labels” and “billing accounts”;

AWS “resource tags”, “Linked Accounts” and “Organizations”; Azure “Subscriptions”, “Resource Groups” and “resource tags”

We do need to know some cloud provider specific terms for the exam. Refer here before the exam FinOps Terminology

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