Well there are two answers that seem incorrect right away.
Create an activity list -> The question implies we already have an activity list which is a per-requisite for the precedence diagramming method.
Begin the WBS -> We already have the WBS according to the question.
Finalize the schedule
Compress the schedule
I don't think we can 'finalize the schedule' because the sequencing has been done but there is no way to know how long each sequence will take given we only just got the activity durations.
This leaves 'Compress the schedule'. After applying the activity durations, schedule compression will help determine the ideal project duration which comes before we can finalize the schedule.
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This interview with Simona Fallavollita (LinkedIn Profile) was recorded at the magnificient Project Management Institute (PMI)® Global Conference 2017 in Chicago, Illinois. We discuss the how, what, why and when of the changes that are coming to the PMP exam.