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What does "counts as credit" mean?
Exam 70-503: TS: Microsoft .NET Framework 3.5 - Windows Communication Foundation: counts as credit toward the following certification(s):
If one takes Exam 70-503 does it mean he is satisfying one of the requirements for the above 2 exams?
Yes you would be an MCTS from this one exam and it would count as credit toward your MCPD.