You are writing an AWS CloudFormation template, and you want to assign values to properties that will not be available until runtime. You know that you can use intrinsic functions to do this but are unsure which part of the template they can use. Which of the following is correct in describing how you can currently use intrinsic functions in an AWS CloudFormation template?

Answer options:

A.You can use intrinsic functions in any part of a template.
B.You can use intrinsic functions only in specific parts of a template. You can use intrinsic functions in resource properties, outputs, metadata attributes, and update policy attributes.
C.You can use intrinsic functions only in the resource properties part of a template.
D.You can use intrinsic functions in any part of a template, except AWSTemplateFormatVersion and Description.

Answer – B
As per AWS documentation:
You can use intrinsic functions only in specific parts of a template. Currently, you can use intrinsic functions in resource properties, outputs, metadata attributes, and update policy attributes. You can also use intrinsic functions to create stack resources conditionally.
Hence, B is the correct answer.
For more information on intrinsic function, please refer to the below link.
http://docs.aws.amazon.com/AWSCloudFormation/latest/UserGuide/intrinsic-function-reference.html