Automatically attach Label to candidate based on Pre-Screening questions

Summary:

A new feature named 'Job Application Computed Fields' is introduced in 22B. Is it possible to automatically attach Labels to the candidate based upon some pre-screening questions or Extensible flexfields using Job application computed fields fastformulas?

Content (required):

Version (include the version you are using, if applicable):

Code Snippet (add any code snippets that support your topic, if applicable):