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Exchange is the server side of a collaborative application product that is part of the Microsoft Server infrastructure. Exchange's major features include email, calendaring, contacts and tasks, support for mobile and web-based access to information, and support for data storage.
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2) No you can name the share anything. You will need need to set the Share name using the Cluster Command at the command prompt. It will look something like this.
Cluster /cluster:Clustername res Majority Node Set /priv MNSFileShare=\\Server\Shar
Hope this helps.