Error during installation of AX Reporting Service Extensions for SSRS

If you get the following error during the installation of the Reporting Srevice Extensions:

The AOS server name or instance name is not correctly configured
The AOS server name or instance name is not correctly configured
    Fehler beim Setup von 'Reporting Services-Erweiterungen'.
    Ursache: The AOS server name or instance name is not correctly configured
    System.ArgumentException: The AOS server name or instance name is not correctly configured
       bei Microsoft.Dynamics.AX.Framework.Client.ConfigurationModel.ClientConfigurationModel.ParseAosList(String aosList, String wsdlPortList)
       bei Microsoft.Dynamics.AX.Framework.Services.Client.Configuration.ClientConfigurationInternal.GetClientConfiguration()
       bei Microsoft.Dynamics.AX.Framework.Services.Client.Configuration.ClientConfigurationInternal.get_ConfigurationInUse()
       bei Microsoft.Dynamics.AX.Framework.Services.Client.Configuration.ClientConfigurationInternal.CreateXppChannelFactory[T](String relativeUri)
       bei Microsoft.Dynamics.AX.Framework.Services.Client.XppServiceClient`1.CreateChannelFactory()
       bei Microsoft.Dynamics.AX.Framework.Services.Client.ServiceClientBase`1.get_ChannelFactory()
       bei Microsoft.Dynamics.AX.Framework.Services.Client.ServiceClientHelper.InvokeChannelOperation[TResult,TChannel](IServiceClient`1 client, Func`2 operationInvoker, Func`2 exceptionWrapper)
       bei Microsoft.Dynamics.AX.Framework.Reporting.Shared.SRSFrameworkServiceProxy.Microsoft.Dynamics.AX.Framework.Reporting.Shared.IXppSRSFrameworkService.getReportServerConfigurations(SRSFrameworkServiceGetReportServerConfigurationsRequest request)
       bei Microsoft.Dynamics.AX.Framework.Reporting.Shared.SRSFrameworkServiceClient.Microsoft.Dynamics.AX.Framework.Reporting.Shared.ISRSFrameworkService.GetReportServerConfigurations(IEnumerable`1 configurationId)
       bei Microsoft.Dynamics.Setup.ReportsServerInstaller.GetReportServerConfiguration(String configId)
       bei Microsoft.Dynamics.Setup.ReportsServerInstaller.GetOrCreateServerConfiguration(String instanceName, String sharePointServiceApplicationSite, Boolean& createdConfiguration)
       bei Microsoft.Dynamics.Setup.Components.ReportingServicesExtensions.InstallConfigurationFiles(String instanceName, String sharePointServiceApplicationSite, Boolean& createdConfiguration)
       bei Microsoft.Dynamics.Setup.Components.ReportingServicesExtensions.RunReportingSetupManagerDeploy()

Or if you get an error when starting the command: Install-AXReportInstanceExtensions

Install-AXReportInstanceExtensions : The AOS server name or instance name is
not correctly configured
In Zeile:1 Zeichen:1
+ Install-AXReportInstanceExtensions -ReportServerInstanceName AX_TEST
-Creden ...
+ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    + CategoryInfo          : NotSpecified: (:) [], ArgumentException
    + FullyQualifiedErrorId : System.ArgumentException

 You need to check you have an AX Client installed on that machine. Open the Client Configuration and make sure it is pointing to the correct AOS. Try again :)