FINOPS CERTIFIED PRACTITIONER
QUESTIONS AND ANSWERS 100%
CORRECT
FinOps - ANSWER-An operational framework and cultural practice
1. Teams Manage Cloud Costs
2. Data accessible and timely
3. Centralized Teams
4. Everyone Takes Ownership
What FinOps does - ANSWER-1. Maximizes business value of cloud
2. Enables timely decision making
3. Creates finanical accountability
FinOps Principles - ANSWER-1. Teams need to collaborate
2. Decisions driven by business value of cloud
3. Everyone takes ownership
4. Data accessible and timely
5. Centralized team drives FinOps
6. Take advantage variable cost model of cloud
FinOps 5 key areas of behavior - ANSWER-1. Communication
2. Accentuating Positives
3. Consistency in Action
4. Openness and Honesty
5. Keeping Commitments
Practitoner Persona - ANSWER-1. Drives best practices into organization through
eduction, standardization, and cultural growth
2. Creates benchmarks for teams to use
3. Creates budgets and forecasts
Leadership Persona - ANSWER-1. Cloud investment aligned with business objective
2. Enables actions to overcomes FinOps challenges
Product Persona - ANSWER-1. Quickly bring new products to market
2. Drive business value by defining requirements that align with business objectives
Engineering Persona - ANSWER-1. Deliver fast and high quality services to
organization
2. Responsible for designing, managing, and optimizing cloud
, Finance Persona - ANSWER-1. Budget, Forecast, and Reports of cloud costs
Procurement Persona - ANSWER-1. Cloud platform relationship managment
2. Responsible for getting cloud services, optimizing vendor relationships.
Procurement Persona Metrics - ANSWER-1. Software licenses
2. Cost or IT Spend per Vendor
Cost of Goods Sold (COGS) - ANSWER-Measure of how many dollars outlay to
generate revenue in specific period
Three ways to split up shared costs - ANSWER-1. Proportional: Based on relative
percentage of direct costs
2. Even split: Split total amount evenly across targets
3. Fixed: User defined coeffient
CAPEX and OPEX - ANSWER-1. CAPEX is purchase of asset meant to provide value
over time
2. OPEX purchase to provide benefit over specific period. Not amatorized over time as
CAPEX
Depreciation - ANSWER-Retiring cost of asset over time
Wasted Usage - ANSWER-Resource usage not actively used by organization
On-Demand Rate - ANSWER-Normal or base rate paid for cloud resource
Rate Reduction - ANSWER-use reserved instances, committed use discounts (CUDs),
or commercial agreements to receive a lower rate for resources used
Cost Avoidance - ANSWER-1. Reduction in amount of cost for current month's billing
cycle. 2. avoid paying for resources that would have incurred a charge
Cost Savings - ANSWER-Reducing rate paid for resources, tracked by monitoring
credits applied to a bill or by comparing the rate paid for a resource versus the normal
public price
Savings Realized - ANSWER-Effectiveness of your FinOps practice by tracking realized
savings against the efforts to generate and maintain them
Income Statement - ANSWER-A financial statement showing the revenue and
expenses for a fiscal period.
Prius Effect - ANSWER-Effect of changed behavior as result of making information
about subject more visible and available.
QUESTIONS AND ANSWERS 100%
CORRECT
FinOps - ANSWER-An operational framework and cultural practice
1. Teams Manage Cloud Costs
2. Data accessible and timely
3. Centralized Teams
4. Everyone Takes Ownership
What FinOps does - ANSWER-1. Maximizes business value of cloud
2. Enables timely decision making
3. Creates finanical accountability
FinOps Principles - ANSWER-1. Teams need to collaborate
2. Decisions driven by business value of cloud
3. Everyone takes ownership
4. Data accessible and timely
5. Centralized team drives FinOps
6. Take advantage variable cost model of cloud
FinOps 5 key areas of behavior - ANSWER-1. Communication
2. Accentuating Positives
3. Consistency in Action
4. Openness and Honesty
5. Keeping Commitments
Practitoner Persona - ANSWER-1. Drives best practices into organization through
eduction, standardization, and cultural growth
2. Creates benchmarks for teams to use
3. Creates budgets and forecasts
Leadership Persona - ANSWER-1. Cloud investment aligned with business objective
2. Enables actions to overcomes FinOps challenges
Product Persona - ANSWER-1. Quickly bring new products to market
2. Drive business value by defining requirements that align with business objectives
Engineering Persona - ANSWER-1. Deliver fast and high quality services to
organization
2. Responsible for designing, managing, and optimizing cloud
, Finance Persona - ANSWER-1. Budget, Forecast, and Reports of cloud costs
Procurement Persona - ANSWER-1. Cloud platform relationship managment
2. Responsible for getting cloud services, optimizing vendor relationships.
Procurement Persona Metrics - ANSWER-1. Software licenses
2. Cost or IT Spend per Vendor
Cost of Goods Sold (COGS) - ANSWER-Measure of how many dollars outlay to
generate revenue in specific period
Three ways to split up shared costs - ANSWER-1. Proportional: Based on relative
percentage of direct costs
2. Even split: Split total amount evenly across targets
3. Fixed: User defined coeffient
CAPEX and OPEX - ANSWER-1. CAPEX is purchase of asset meant to provide value
over time
2. OPEX purchase to provide benefit over specific period. Not amatorized over time as
CAPEX
Depreciation - ANSWER-Retiring cost of asset over time
Wasted Usage - ANSWER-Resource usage not actively used by organization
On-Demand Rate - ANSWER-Normal or base rate paid for cloud resource
Rate Reduction - ANSWER-use reserved instances, committed use discounts (CUDs),
or commercial agreements to receive a lower rate for resources used
Cost Avoidance - ANSWER-1. Reduction in amount of cost for current month's billing
cycle. 2. avoid paying for resources that would have incurred a charge
Cost Savings - ANSWER-Reducing rate paid for resources, tracked by monitoring
credits applied to a bill or by comparing the rate paid for a resource versus the normal
public price
Savings Realized - ANSWER-Effectiveness of your FinOps practice by tracking realized
savings against the efforts to generate and maintain them
Income Statement - ANSWER-A financial statement showing the revenue and
expenses for a fiscal period.
Prius Effect - ANSWER-Effect of changed behavior as result of making information
about subject more visible and available.
