Type 1 vs Type 2 hypervisors and VM snapshots for A+
A Type 1 hypervisor installs directly on the hardware; a Type 2 hypervisor runs on top of a host operating system. Most bare-metal hypervisors have their own management access controls, while hosted ones rarely do. Either way, the processor's hardware virtualization support has to be turned on in BIOS or UEFI.
Bare metal vs hosted
NIST SP 800-125A says a hypervisor can be installed directly on the hardware, or bare metal (Type 1), or on top of a full conventional operating system called the host OS (Type 2).
NIST SP 800-125 says servers are most often virtualized with bare-metal hypervisors and desktops with hosted ones. Hosted virtualization lets users run ordinary applications such as browsers alongside the hypervisor. Bare-metal systems run applications only inside guests.
Access control differs. NIST says most bare-metal hypervisors have access controls, typically a username and password for the management interface, sometimes with different levels of authorization. Hosted products rarely have hypervisor access controls: anyone who can launch an application on the host OS can run the hypervisor, so the only control is who can log on to the host.
Firmware settings a hypervisor needs
Microsoft's Hyper-V requirements include a 64-bit processor with second-level address translation (SLAT) and virtualization support turned on in the BIOS or UEFI.
That means hardware-assisted virtualization, Intel VT or AMD-V, plus hardware-enforced Data Execution Prevention (the XD bit on Intel, the NX bit on AMD).
A processor that supports virtualization will still fail the hypervisor's hardware check if the firmware setting is off.
Disk images and snapshots
A disk image is a file on the host that looks to the guest like an entire disk drive. Under hosted virtualization it appears in the host OS as a file or folder and can be copied like any other file.
A snapshot records the state of a running guest, usually as the differences between the image and the current state, including virtual storage and memory. Take one before a risky change so you can return the guest to that state.
Snapshots can hold the contents of RAM at the time they were taken, so NIST warns they may contain sensitive data.
Where the exam catches people
Believing a capable CPU is enough to install a hypervisor: virtualization support must also be turned on in the BIOS or UEFI.
Believing a Type 2 hypervisor protects guests from other users of the desktop: anyone who can log on to the host can run it.
Believing cloning the host's physical drive is the way to back up one guest: the guest's drive is a disk image file on the host.
Believing a snapshot holds only disk contents: it can include virtual memory and other state.