You are working with retention policies. Which of the following locations can retention policies not be applied? 

Answer options:

A.Sharepoint Site
B.Stream recordings
C.Exchange email
D.OneDrive accounts
E.Dynamics 365 Finance and Operations data

Correct Answers: C and E 
You cannot apply a retention policy to Stream content or data within Dynamics 365. All other options are valid locations. Amongst other valid locations are: Teams channel messages and chats
Yammer community messages and user messages
Exchange public folders
Option A is incorrect. This is a valid location
Option B is incorrect. This is a valid location
Option D is incorrect. This is a valid location
Reference: 
To know more about retention labels, please refer to the link below: 

https://docs.microsoft.com/en-us/microsoft-365/compliance/retention?view=o365-worldwide#published-retention-labels