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Last week I took the 70-551 exam and passed.
This exam allows me to upgrade my current MCAD certification to the new MCPD Web Developer Certification and was one of the toughest Microsoft exams I have taken so far.
The typical path to getting your MCPD would be to take 3 separate exams (70-528, 70-536, and 70-547). The 70-551 is an upgrade exam and combines all three exams into one giant exam that consisted of 3 sections.
Full Details can be found here: http://www.microsoft.com/learning/en/us/exam.aspx?id=70-551&locale=en-us#tab2
Each section in the exam consisted of around 30 questions and had a time limit of about an hour and a half. Once a section is complete, you move on to the next section and are not allowed to go back to a previous section. Microsoft calls this an upgrade exam but it really feels like I took all three exams at the same time instead of individually.
The nice thing about this exam was that it covered a lot of material specific to things I do every day for Aztek clients (which made some of the questions really easy).
These certifications help us maintain Aztek's Microsoft Certified Partner status. They are also a good way to keep up-to-date on current technologies. With Visual Studio 2010 and .Net 4 framework coming out next month, there will always be new exams coming out for us to pass.
