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Reference: https://trailheadacademy.salesforce.com/classes/cpq301-configure-and-administer-a-salesforce-cpq-solution#

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In order to take the CPQ-301 exam, candidates must have a strong understanding of Salesforce and its various modules, including Sales Cloud, Service Cloud, and Community Cloud. They should also have experience with configuring and customizing Salesforce CPQ solutions, including creating pricing rules, configuring product bundles, and managing discount schedules. Additionally, candidates should be familiar with the Salesforce CPQ API and how to integrate it with other systems.