Exercises on dynamic play I feel I learn best from solving exercises and I'm looking for a resource that focuses on "dynamic play" such as going for dynamic advantages at the expense of static/material aspects and how to treat the resulting positions. Any recommendation for an exercise book or an online resource?
I can recommend The Attacking Manual.

From the Quality Chess homepage: "British Champion Jacob Aagaard explains the rules of attack (the exploitation of a dynamic advantage) in an accessible and entertaining style. This groundbreaking work is well balanced between easily understandable examples, exercises and deep analysis."

To benefit from this book you should be an advanced player, maybe 1900 Elo or above. 

The Attacking Manual contains explicit exercises. An alternative is to just play through dynamic games from a book and try to guess the next move. For example you could search the game on chessgames.com or on chessbase, make sure you can't see the moves and then go through it until you find an interesting position. Then you calculate and write down all your variations. Afterwards you go back to the book and find out how accurate your reasoning was.

Books with great dynamic chess are Life and Games of Mikhael Tal, Storming the barricades or Fire on Board.