MS Power Point
One thing the common tasks button allows you to do is

All of the listed here
Apply a design template to a slide
Insert a new slide
Choose a new layout for a slide

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MS Power Point
How do you add degrees of transparency to shapes such as arrows, so that the slide background shows though?

Use the Set Transparent Color button on the Picture toolbar
Use the Transparency slider in the Format AutoShapes dialog box
Use #D style 4 button on the drawing toolbar
All of above

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MS Power Point
How to create additional Guide Lines?

by holding Ctrl key, click on existing Guide Line and drag
by holding Alt key, click on existing Guide Line and drag
by holding Ctrl + Alt key, click on existing Guide Line and drag
Additional Guide Lines cannot be created

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