Early in April 2023, I passed the Microsoft PowerBI Certification exam (PL300) on the first attempt. The passing grade is 70%, however, the exam is by no means easy. It tries to cover a variety of components of PowerBI and, I believe, very few people work with all of them on a day-to-day basis.
Out of the 4 sections listed below, model and visualize the data probably most commonly used by analysts. In our organization administration is a partnership between Analytics and IT. I could see more than 100 administrative options but could not modify them. Also, we have a robust data warehouse with relatively clean data and views. Therefore, the use of M and ETL component of PowerBI is limited. I can imagine that smaller organizations would be using the Power Query module more frequently. Some questions are very niche (for example certain pieces of M (ETL) code or detailed administration-related questions). The majority are fairly common items that can be solved with preparation.
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If you are new to PowerBI and do not use it on daily basis, this exam would be very difficult to pass. A good portion of Modeling and Visualization questions should be familiar to the point that out of 4 multiple-choice questions, it should be possible to quickly eliminate 1 or 2. I used a few cheap courses (Udemy, SkillCertPro, and some free questions on itexams.com) to prepare for the exam. It probably took me about 4 months to complete some of those tests and beef up my knowledge of administration and Power Query to feel confident that I should be able to pass.
Timing-wise, it is about 100 minutes with 2 major sections. The first section covers all the subjects above, except for the case study. Once you complete it, there was a case study with lots of reading and 5 questions. In the first section of 40 questions or so, I found patterns similar to the study exams, which allowed me to go through the sections relatively quickly. I suggest leaving at least 20 minutes or more for the case study.
Lastly, preparing for the exam helps to learn about various aspects of the PowerBI eco-system and has value whether you pass it right away or take a longer time to prepare.