The underlying technology on the 70-743 is Windows Server 2016, but specifically it's about everything that Windows Server 2016 does differently from previous versions of the server OS. People who were preparing to take the MCSA: Upgrading Your Skills to Windows Server 2016 (70-743) were familiar with older Microsoft server operating systems and needed to learn how Windows Server 2016 implemented things like Hyper-V, containers, High Availability and more.
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Microsoft MCSA: Upgrading Your Skills to Windows Server 2016 (70-743) FAQs: Cost, Training, Value
Yes, exam 70-743 was retired on January 31, 2021 and it can no longer be taken. Not only is the MCSA: Upgrading Your Skills to Windows Server 2016 exam 70-743 retired, but no exam has taken its place. Microsoft retired the entire series of MCSA certifications and certifying exams because they decided to focus their entire certification program on different priorities like a better-rounded familiarity with all the responsibilities for a certain IT job.
No, the MCSA: Windows Server is no longer valid. Microsoft retired the MCSA: Windows Server 2016 in January 2021 and it's no longer possible to earn it or take any of the exams related to it. The 70-743 exam, MCSA: Upgrading Your Skills to Windows Server 2016, was retired at the same time, and there's no longer any certification or exam designed for documenting an administrator's knowledge of Windows Server 2016 specifically.
Nothing replaced the MCSA: Upgrading Your Skills to Windows Server 2016, and Microsoft plans to never replace it. Microsoft didn't replace the MCSA or MCSE certifications because IT job market trends needed administrators familiar with a broader skill set and not deep knowledge with one single piece of software. Their new Microsoft 365 Certified series of certifications reflects that, but doesn't replace for the MCSA: Upgrading Your Skills to Windows Server 2016.
Yes, this MCSA: Upgrading Your Skills to Windows Server 2016 (70-743) is still valuable if you need to know exactly how Windows Server 2016 is different from previous versions of the server operating system. This training is still valuable because it covers managing host and compute environments with Windows Server 2016, implementing Active Directory Certificate Services (AD CS), Implementing distributed network solutions and more about what makes Windows Server 2016 unique.