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Cumulus Cloud Bank is asking the consultant to explain some tools available tointegrateSalesforce into several of its back-end/core systems.Which three capabilities should a consultant recommend?
A. Industry Integration Solutions with the MuleSoft Anypoint Platform B. Data Processing Engine C. OmniStudio Integration Procedures D. Data Consumption Framework E. OmniStudio DataRaptors
Answer: A,C,E
Explanation:
Salesforce offers various tools and capabilities to integrate Financial Services Cloud with
external systems, such as core banking, insurance, or mortgage platforms. Some of the
toolsand capabilities that a consultant can recommend are:
Industry Integration Solutions with the MuleSoft Anypoint Platform: These are
prebuilt integration solutions that leveragethe MuleSoft Anypoint Platform to
connect Financial Services Cloud with common industry systems, such as Fiserv,
FIS, Jack Henry, and Guidewire1. These solutions enable bi-directional data
synchronization, orchestration, and transformation between Salesforce and the
external systems2.
OmniStudio Integration Procedures: These are reusable components that define
the logic and sequence of steps for integrating datafrom external sources into
Financial Services Cloud3. Integration procedures canbe triggered by events, such as a button click or a record update, and can invoke other components, such as
DataRaptors or OmniScripts4.
OmniStudio DataRaptors: These are data transformation components that can
extract, load, and manipulate data from various sources, such as Salesforce
objects, REST or SOAP web services, or CSV files5. DataRaptors can be used to
map data between different formats, perform calculations or validations, or create
or update records in Financial Services Cloud6.
References:
Industry Integration Solutions
MuleSoft Anypoint Platform
OmniStudio Integration Procedures
Create an Integration Procedure
OmniStudio DataRaptors
Create a DataRaptor
Question # 2
Cumulus Bank is migrating its CRM software from a legacy application to SalesforceFinancial Services Cloud (FSC). The bank hired Salesforce Professional Services toconfigure/deploy the new Salesforce FSC org and migrate data.Which order should a consultant follow when performing the data migrations?
A. Individuals, then Financial Account Roles, then Financial Accounts, then FinancialAccount Transactions B. Individuals, then Financial Accounts, then Financial Account Roles, then FinancialAccount Transactions C. Financial Accounts, then Financial Account Roles, then Individuals, then FinancialAccount Transactions D. Financial Accounts, then Financial Account Transactions, thenVinancial Account Roles,then Individuals
Answer: B
Explanation: The order that the consultant should follow when performing the data migrations is
Individuals, then Financial Accounts, then Financial Account Roles, then Financial Account
Transactions. This order ensures that the data dependencies and relationships are
maintained and that the data integrity and quality are preserved. By migrating Individuals
first, the consultant can create the records that represent the customers of the bank. By
migrating Financial Accounts next, the consultant can create the records that represent the
financial products or services that the customers own or use. By migrating Financial
Account Roles next, the consultant can create the records that link the individuals to the
financial accounts and define their roles or relationships with those accounts. By migrating
Financial Account Transactions last, the consultant can create the records that represent
the transactions or activities that occur on the financial accounts.
Question # 3
The Salesforce Admin of Lake Tahoe Bank wants to implement Financial Services Cloudusing the individual object model. What are the steps to disable person accounts? (ChooseThree)
A. Log a case with Salesforce to perform the conversion from Person Accounts to theindividual model. B. Assign the Person Account record type to the user profiles. C. Disable the Person Account custom setting. D. Remove Person Accountrecord types from the Individual Record Type Mapper. E. Assign the Individual record type to the user profiles.
Answer: A,D,E
Explanation: The following steps are required to disable Person Accounts and use the Individual object
model in Financial Services Cloud:
Log a case with Salesforce to perform the conversion from Person Accounts to the
individual model. You need to contact Salesforce Support to request the
conversion from Person Accounts to the individual model. This is an irreversible
process that affects your data model and user interface. You should carefully
evaluate your business needs and test the functionality in a sandbox or developer
org before requesting the conversion in production.
Remove Person Account record types from the Individual Record TypeMapper.
You need to remove any Person Account record types that are mapped to
Individual record types in the Individual Record Type Mapper. This is a custom
setting that defines how records are created when using certain features, such as
Einstein Data Capture or Salesforce Inbox. You can access this setting by going to
Setup > Financial Services Settings > Individual Record Type Mapper.
Assign the Individual record type to the user profiles. You need to assign the
Individual record type to the user profiles that need to create or access Individual
records. The Individual record type is a standard record type on the Account object
that represents an individual person who is not directly related to your business,
such as a prospect, influencer, or household member. You can assign record
types by going to Setup > Profiles > Object Settings > Accounts > Record Types.
Verified References: : Salesforce Help Article 5 :Salesforce Help Article 6 :
Salesforce Help Article 7
Question # 4
Which Salesforce Financial Services Cloud featureenables financial advisors to track andmanage client accounts?
A. Financial accounts management B. Performance reporting C. Client onboarding D. Opportunity management
Answer: A
Explanation:
Financial accounts management is a Salesforce FinancialServices Cloud feature that
enables financial advisors to track and manage client accounts. A financial account is any
account managed by a financial institution, such as a bank, an insurance company, or an
investment firm. Financial Services Cloud supports many kinds of financial accounts, such
as checking accounts, savings accounts, mortgages, credit cards, investment accounts,
insurance policies, and more3. Financial advisors can use Financial Services Cloud to
view, create, update, and delete financial accounts for their clients, as well as link them to
other objects, such as households, goals, referrals, or opportunities4.
References:
Financial Accounts
Manage FinancialAccounts
Question # 5
A financial services company would like its users to be able to relate two businessaccounts. Whatshouldthe administrator configure to meet the requirement?
A. Create a new Contact Reciprocal Role for the required value. B. Update the Role picklist on the Account-Account Relationship object with new value. C. Create a new Account Reciprocal Role for the required value. D. Update the Role picklist on the Account-(?ontact Relationship object with new value.
Answer: B
Explanation:
To configure Financial Services Cloud to allow users to relate two business accounts, the
administrator should update the Role picklist on the Account-Account Relationship object
with new value. The Role picklist is a field on the Account-Account Relationship object that
defines the type of relationship between two accounts, such as Household Member,
Business Owner, Trustee, or Friend. The Role picklist is used to filter and display the
account-account relationships in the Actionable Relationship Center (ARC). To update the
Role picklist, you need to go to Setup > Object Manager > Account-Account Relationship >
Fields & Relationships > Role and addor remove values according to your business needs.
Verified References: : Salesforce Help Article [10] : Salesforce Help Article [11]
Question # 6
Cumulus Insurance has created a Delegated Administrator groupfor its franchise users toreduce the workload on head office support staff.Which three functions should be added to the Delegated Administrator group?
A. Unlock users. B. Modify permission sets. C. Set organization-wide sharing defaults on custom objects. D. Assign or remove permission sets for users in their delegated groups. E. Create and manage membership of specified public groups.
Answer: A,D,E
Explanation:
The following functions should be added to the Delegated Administrator group for its
franchise users:
Unlock users, which is a function that allows delegated administrators to unlock
users who have been locked out due to incorrect login attempts or password
expiration.
Assign or remove permission sets for users in their delegated groups, which is a
function that allows delegated administrators to grant or revoke additional
permissions for users in their delegated groups by using permission sets.
Create and manage membership of specified public groups, which is a function
that allows delegated administratorsto create public groups for sharing purposes
and add or remove users from those groups.
Question # 7
Lake Tahoe Bank is implementing Financial Services Cloud. The bank's new businessprocesses require that Financial Advisors can add individuals to more than one Group orHousehold using Multiple Relationship Groups. Where do Admins enable MultipleRelationship Groups?
A. Object Settings B. Custom Settings C. Lightning Page Editor D. Profiles
Answer: B
Explanation:
To enable Multiple Relationship Groups, which is a feature that allows users to add
individuals to more than onegroup or household, the Admin needs to use Custom Settings.
Custom Settings are similar to custom objects and enable application developers to create
custom sets of data, as well as create and associate custom data for an organization,
profile, or specific user. The Admin can use Custom Settings to enable Multiple
Relationship Groups by following these steps:
From Setup, enter Custom Settings in the Quick Find box, then select Custom
Settings.
Click Manage next to Group Member Record Type Mapper.
Click Edit next to Default Organization Level Value.
In Multiple Relationship Groups Enabled, select True.
Click Save.
Question # 8
Lake Tahoe Bank branch manager Sue Barry wants to encourage all Personal Bankers touse Action Plans to capture repeatable tasks and automate the task sequences, improvingcollaboration and productivity. Which three of the following statements about Action Plansare true?
A. When you work with Action Plans, you first create Action Plan Templates B. Action Plans require a monthly license fee per user C. Action Plans can be used to schedule appointments with the Bankers D. Action Plans make it easy to create reports and dashboards, so you can monitorprogress and ensure compliance E. Action Plans can be used to automatically assign task owners and deadlines for specificclient engagements
Answer: A,D,E
Explanation:
The following statements about Action Plans are true:
When you work with Action Plans, you first create Action Plan Templates, which
are reusable sets of tasks that define a common clientprocess1.
Action Plans make it easy to create reports and dashboards, so you can monitor
progress and ensure compliance. Users can use standard report types or custom
report types to create reports on action plans, action plan templates, action plan
items, action plan item templates, and action plan item owners1.
Action Plans can be used to automatically assign task owners and deadlines for
specific client engagements. Users can specify task owners by using assignment
logic such as specific user, role, queue, action plan creator, or account team1.
Verified References: 1
Question # 9
Which three of the following statements are correct about the Actionable RelationshipCenter Manager (ARC)?
A. To enable users to see the ARC, you will need to add thecomponent for ARC to thepage layout. B. ARC displays up to 5 related lists that have a configured compact layout. C. ARC is certified to work with Person Accounts and Individual Accounts. D. The Salesforce Admin has to create a permission set for granting access to the ARC –FSC Lightning component. E. The Association Type picklist controls the account-account relationship that display inthe ARC.
Answer: A,B,E
Explanation:
The following statements are correct about the Actionable Relationship Center Manager
(ARC):
To enable users to see the ARC, you will need to add the component for ARC to
the page layout. The ARC is a Lightning component that can be added to any
Lightning page that supports components, such as record pages, app pages, or
Home pages. You can use the Lightning App Builder to drag and drop the ARC
component to the desired location on the page layout.
ARC displays up to 5 related lists that have a configured compact layout. The ARC
shows a graphical representation of the account-account relationshipsfor a
selected record, as well as related lists of other records that are associated with
the account, such as contacts, financial accounts, or opportunities. The ARC can
display up to 5 related lists at a time, and each related list must have a compact
layout configured to show relevant fields. The Association Type picklist controls the account-account relationship that
display in the ARC. The Association Type picklist is a field on the Account
Relationship object that defines the type of relationship between two accounts,
such as Household Member, Business Owner, Trustee, or Friend. The ARC uses
this field to filter and display the account-account relationships for a selected
record. You can customize this picklist to add or remove values according to
During the delivery stage of a Financial Services Cloud (FSC) implementation, a consultantneeds to think about how to utilize FSC-related objects. Which three things should theconsultantconsider when adopting such objects?
A. In a household, each household member is modeled as a Contact, and the household ismodeled as an Account. B. In a household, each of the household members is modeled as a Person Account andthe household is modeledas an Account. C. Role Hierarchy-based sharing can be disabled for the Financial Deal object but can't bedisabled for the Opportunity object. D. Both the Financial Deal object and the Opportunity object support Compliant DataSharing. E. Interaction Summary is an enhancement of the standard Activity object. FSCimplementations should use Interaction Summary as a replacement for the Activity object.
Answer: A,C,D
Reference: Set Up Clients, Households, and Relationships, Compliant Data Sharing in
Explanation: Some considerations when adopting FSC-related objects are:
In a household, each household member is modeled as a Contact, and the household is
modeled as an Account. A household is a type of relationship group that represents a
group of clients whohave a direct relationship with one another and shared financials, such
as spouses and their dependent children. A household is modeled as an Account record
with a custom record type of Household. Each household member is modeled as a Contact
record that is related to the household Account. A household can also have related
accounts and contacts that are not part of the household, but are associated with it for
some reason.
Both the Financial Deal object and the Opportunity object support Compliant Data Sharing.
Compliant Data Sharing (CDS) is a feature of FSC that allows granular control over access
to sensitive data in Account and Opportunity objects. CDS can help financial services
companies comply with regulations and policies that restrict data visibility based on user
roles. CDS can also be enabled for the Financial Deal object, which is a custom object that represents a business opportunity or transaction with a client. The Financial Deal object
can be used instead of or in addition to the Opportunityobject, depending on the business
needs.
Interaction Summary is an enhancement of the standard Activity object. FSC
implementations should use Interaction Summary as a replacement for the Activity object.
Interaction Summary is a custom object that captures the details of a client interaction,
such as a meeting, a call, or an email. Interaction Summary can be linked to other FSC
objects, such as Financial Accounts, Financial Goals, Financial Deals, or Relationship
Groups. Interaction Summary can also have participants, which are records that represent
the people or groups involved in the interaction.
Question # 11
The Salesforce Admin at Lake Tahoe Bank is implementing Financial Services Cloud andwants to roll up customerdata at the client and group levels. What functionality can RollupBy Lookup (RBL) provide for this requirement?
A. RBL calculations can not be disabled when importing data into your Salesforce org. B. An RBL rule displays summary calculations of financialaccount information, such asaccount balances. C. When you edit a financial account record or primary Group membership, the Rollup ByLookup (RBL) configuration updates the corresponding RBL summaries at the client andGroup levels. D. Rollups for multiple joint owners are not supported E. Rollup By Lookup (RBL) displays associated records for Financial Accounts. FinancialGoals, and Opportunities.
Answer: B,C,E
Explanation:
The functionality that Rollup By Lookup (RBL) can provide for rolling up customer data at
the client and group levels are as follows:
An RBL rule displays summary calculations of financial account information, such
as account balances, networth, total assets, total liabilities, and so on1.
When you edit a financial account record or primary group membership, the Rollup
By Lookup (RBL) configuration updates the corresponding RBL summaries at the client and group levels1.
Rollup By Lookup (RBL) displays associated records for Financial Accounts,
Financial Goals, and Opportunities on the client and group pages1. Verified
References: 1
Question # 12
Which three types of Account-Account relationships are displayed in the ActionableRelationship Center?
A. Accounts & Businesses B. Accounts & Members C. Accounts & Peers D. Accounts & Groups
Answer: A,C,D
Explanation:
The following types of Account-Account relationships are displayed in the Actionable
Relationship Center (ARC):
Accounts & Businesses: This type of relationship shows the accounts that are
related to a business account, such as owners, partners, or beneficiaries. You can
use this type of relationship to understand the ownershipstructure and financial
interests of a business account.
Accounts & Peers: This type of relationship shows the accounts that are related to
another account by a peer-to-peer relationship, such as friends, colleagues, or
associates. You can use this type ofrelationship to identify potential referrals and
cross-selling opportunities from an account’s network.
Accounts & Groups: This type of relationship shows the accounts that are related
to a group account, such as household members, trust members, or business
group members. You can use this type of relationship to view the aggregated
financial data and activities of a groupaccount. Verified References: : Salesforce
Help Article 2 : Salesforce Help Article 3 : SalesforceHelp Article 4
Question # 13
To access all Financial Services Cloud (FSC) functionalitiesavailable out of the box, aconsultant must install the FSC Managed Package and the Unmanaged ExtensionPackages.Which two functionalities are included in the FSC Unmanaged Extension Packages?
A. Custom objects to track Financial Accounts and Household B. The Commercial Banking dashboard C. Field sets that configure how fields display in the client and household profiles D. Predefined list views of clients and households
Answer: B,C
Reference: Financial Services Cloud Packages
Explanation: Financial Services Cloud functionality is available from two packages: the
managed package and the unmanaged extension packages. The managed package
contains most of the Financial Services Cloud functionality, such as custom fields and
objects, list views and profiles of clients and households, and administrative configurations.
The unmanaged extension packages provide additional functionality that is not included in
the managed package, such as:
The Commercial Banking dashboard: This is a dashboard that provides insights into
commercial banking activities and performance, such as loan portfolio health, deposit
growth, referral pipeline, and customer satisfaction. The Commercial Banking dashboard is
included in the unmanaged commercial banking extension package.
Field sets that configure how fields display in the client and household profiles: These are
field sets that determine which fields are displayed in different sections of the client and
household profiles, such as Client Overview, Household Overview, Client Details,
Household Details, etc. The field sets are included in the unmanaged extension package.
Question # 14
An investment bank client wants all its users to track client engagements with InteractionSummaries. In addition, those call logs need to be shared with specialists in other lines ofbusiness so they can assist in specific types of deals.Which three Financial Services Cloud standard objects should be used to helpaccommodate these business requirements?
A. Interaction Summary Participant B. Financial Deal Participant C. Participant Role D. Interaction Participant E. Opportunity Participant
Answer: A,B,C
Reference: Track Client Interactions - Salesforce
Explanation: Interaction Summaries are records that capture the details of a client
interaction, such as a meeting, a call, or an email. Interaction Summaries can be linked to
Financial Deals, which are records that represent a business opportunity or transaction with
a client. Interaction Summaries and Financial Deals can have participants, which are
records that represent the people or groups involved in the interaction or deal. Participants
can have different roles, such as advisor, client, specialist, or decision maker. Participant
Role is a custom object that defines the possible roles for participants.
Question # 15
A bank recently sold its wealth management division and wants to improve its customers’digital experience. The bank engaged Salesforce Professional Services to upgrade itsexisting Salesforce CRM to Financial Services Cloud and deliver its Bank of the Future vision.Which three expected outcomes can serve as return on investment (ROI) justifications tothe bank's chief financial officer (CFO)and investment committee?
A. Unify and improve team collaboration by sharing and managing customer leads andreferrals across multiple lines of business at the bank to drive customers' financial needsand deepen client relationships. B. Deliver connected and personalized digital experiences to the bank's customers thanksto a 360-degree view of its customer data consolidating multiple customer databases andsources from diverse channels at the bank. C. Simplify the client onboarding process with proper tools to streamline customerdiscovery and internal reviews through renewal. D. Manage policy holder’s interactions with customer service agents intelligently throughthe underwriting process. E. Modernize client-advisor experiences from engagement to relationship management toeffectively drive long-term, trusted relationships.
Answer: A,B,E
Explanation:
Unify and improve team collaboration by sharing and managing customer leads and
referrals across multiple lines of business at the bank to drive customers’ financialneeds
and deepen client relationships; Deliver connected and personalized digital experiences to
the bank’s customers thanks to a 360-degree view of its customer data consolidating
multiple customer databases and sources from diverse channels at the bank;Modernize
client-advisor experiences from engagement to relationship management to effectively
drive long-term, trusted relationships.
Reference: Financial Services Cloud | Salesforce
Explanation: Financial Services Cloud is a platform that enables banks to deliver seamless
and personalized customer experiences across multiple channels and devices. Financial
Services Cloud can help banks achieve the following outcomes:
Unify and improve team collaboration by sharing and managing customer leads and
referrals across multiple lines of business at the bank to drive customers’ financial needs
and deepen client relationships. Financial Services Cloud providestools such as Lead
Conversion, Referral Management, Relationship Groups, and Compliant Data Sharing to
facilitate cross-team collaboration and coordination.
Deliver connected and personalized digital experiences to the bank’s customers thanks to
a 360-degree view of its customer data consolidating multiple customer databases and
sources from diverse channels at the bank. Financial Services Cloud provides a unified
data model that integrates customer data from various sources, such as core banking
systems, online banking portals, mobile apps, social media, and third-party providers.
Financial Services Cloud also provides features such as Customer Profile, Actionable Relationship Center, Interaction Summaries, and Einstein Analytics to provide a
comprehensiveand holistic view of the customer’s financial situation, needs, preferences,
and interactions.
Modernize client-advisor experiences from engagement to relationship management to
effectively drive long-term, trusted relationships. Financial Services Cloud provides features
such as Client Onboarding, Action Plans, Goals-Based Planning, Financial Accounts,
Financial Deals, Next Best Action, and Einstein Bots to enable advisors to deliver proactive
and personalized advice, recommendations, and solutions to their clients.
Question # 16
Which three related lists are visible within Actionable Relationship Center associated withthe Account object?
A. Cases B. Notes and Attachments C. Client Financial Goals D. Financial Holdings E. Household Financial Accounts
Answer: C,D,E
Explanation:
The following related lists are visible within Actionable Relationship Center (ARC)
associated with the Account object:
Client Financial Goals, which is a relatedlist that displays the financial goals of the
account, such as retirement, education, or debt payoff.
Financial Holdings, which is a related list that displays the financial accounts of the
account, such as bank accounts, investment accounts, or insurancepolicies.
Household Financial Accounts, which is a related list that displays the financial
accounts of the account’s primary group, such as household or business group.
Question # 17
A Bank of the Future customer calls the bank to update the address on their account. Thecall center agent handling the call needs to enter a new address into the system. The agententers the new contact information using an OmniScript and then needs to generate aprefilled PDF with the new address that can be shared with the customer.Which two OmniStudio tools should a consultant recommend to generate the prefilledPDF?
A. OmniStudio Action Document Generation B. Calculation Procedure C. DataRaptor D. Integration Procedure
Answer: A,C
Explanation:
The following OmniStudio toolsshould be recommended to generate the prefilled PDF:
OmniStudio Action Document Generation, which is a tool that allows users to
create documents from templates and data sources using OmniScripts and
Integration Procedures. Byusing OmniStudio Action Document Generation, the
consultant can create a document template with placeholders for the contact and
address information and generate a PDF file from it using an OmniScript. DataRaptor, which is a tool that allows users to extract and transform data from
Salesforce or external systems using Integration Procedures. By using
DataRaptor, the consultant can create a data source that retrieves the contact and
address information from Salesforce and maps it to the document template
placeholders.
Question # 18
Personal Banker Hank Burton is questioning his Referral Score shown in Salesforce Financial Services Cloud. When is the Referral Score updated?
A. The Referral Score updated when a referral is convened to an Opportunity or closed. B. The Referral Score updated when a lead is created using the referral record type. C. The Referral Score updated when a referral is assigned from the queue to a user. D. The Referral Score updated when an opportunity associated with the Referral is ClosedWon
Answer: D
Explanation:
The Referral Score is updated when an opportunity associated with the Referral is Closed
Won. The Referral Score is a metric that measures the quality and quantity of referrals that
a user creates or receives. The Referral Score is calculatedas the number of referrals
converted to opportunitiesdivided by the total number of referrals. The Referral Score is
displayed in the Referral Summary component on the user’s Home page or record page.
The Referral Score is updated whenever a referral is converted to an opportunity or an
opportunity is closed as won or lost. Verified References: : Salesforce Help Article 2 :
Salesforce Help Article 4
Question # 19
When importing records from a system outside of Salesforce, which ID should be used toprevent the data import from creating duplicates?
A. User ID B. Data Load ID C. External ID D. Org ID
Answer: C
Explanation:
To prevent the data import from creating duplicates when importing records from a system
outside of Salesforce, you should use External ID. External ID is a custom field type that
can be used to store unique identifiers from other systems. You can use External ID to
match records during data import and avoid creating duplicate records in Salesforce. You
can also use External ID to enable upsert operations, which can insert new records or
update existing records based on the External ID value. Verified References: : Salesforce
Help Article [5] : Salesforce Help Article [6]
Question # 20
An investment bank is implementing Financial Services Cloud (FSC) to manage the dealpipeline. Each opportunity has confidential information that the deal teammembers mustonly view. In addition, each member needs the ability to take and share notes directlywithin Salesforce with others on the team.Which three FSC features should be part of the solution design?
A. Financial Deal Management B. Sharing Rules C. Complianthata Sharing D. Profiles E. Interaction Summaries
Answer: A,B,E
Explanation:
The following FSC features should be part of the solution design for managing confidential
deal information and notes sharing among deal team members:
Financial Deal Management: Financial Deal Management is a feature in Financial
Services Cloud that allows you to track and manage complex deals that involve
multiple parties, products, and stages. You can use Financial Deal Management to
store confidential deal information such as deal name, amount, status, or
participants. You can also use Financial Deal Management to associate
opportunities, products, or tasks with a deal.
Question # 21
A Salesforce Admin is configuring a new Action Plan Template. One task in that templateneeds to be picked up by the next available Advisor. What assignment logic should theAdmin use when configuring this template task?
A. Action Plan Creator B. Specific User C. Account Team D. Role E. Queues
Answer: E
Explanation:
To assign a task to the next available Advisor, the Admin should use Queues as
theassignment logic when configuring the template task. Queues are collections of records
that can be assigned to multiple users who share workloads and responsibilities. By using
Queues, the Admin can ensure that any Advisor who is part of the Queue can pickup the
task when they are available
Question # 22
Which three objects should a Financial Services Cloud administrator use when planning touse the Mortgage Data Model to integrate with external Loan Origination and CustomerOnboarding applications to accurately track the pipeline?
A. Assets & Liabilities B. Opportunity C. Case D. Account E. Financial Account
Answer: B,D,E
Explanation:
The following objects should be used when planning to use the Mortgage Data Model to
integrate with external LoanOrigination and Customer Onboarding applications to
accurately track the pipeline:
Opportunity: An Opportunity is a standard object that represents a potential sale or
deal for your products or services. You can use the Opportunity object to track and
manage the stages, amounts, probabilities, and expected revenue of your deals.
You can also use the Opportunity object to associate products, price books,
quotes, contracts, orders, or assets with your deals.
Account: An Account is a standard object that represents a person or an
organization that has a business relationship with your company. You can use the
Account object to store information about your customers, such as name, address,
phone number, website, industry, or rating. You can also use the Accountobject to
associate contacts, opportunities, activities, cases, or notes with your customers.
Financial Account: A Financial Account is a custom object in Financial Services
Cloud that represents a financial product or service that is owned by an account
holder or related to an account holder’s financial goal. You can use the Financial
Account object to store information about your customers’ financial accounts, such
as type, balance, status, or interestrate. You can also use the Financial Account
object to associate financial transactions, financial account roles, or financial goals
with your customers’ financial accounts. Verified References: : Salesforce Help
Article [6] : Salesforce Help Article [7] : Salesforce Help Article [8]
Question # 23
The Salesforce Admin at Lake Tahoe Bank considering implementing Financial ServicesCloud. What is the bestway for the Admin to access a Financial Services pre-configuredorg, including data and the right licenses, to learn about the product?
A. Request a 30-day Financial Services Cloud trial org B. Request a Salesforce developer org. C. Purchase one license of Financial Services Cloud and install it in a production org. D. Spin up a Salesforce sandbox org.
Answer: A
Explanation:
The best way for the Admin to access a Financial Services Cloud pre-configured org,
including data and the right licenses, to learn about theproduct is to request a 30-day Financial Services Cloud trial org. You can sign up for the 30-day trial using this form 4.
You getpreconfigured and preloaded sample data so you can start playing around in your
new org right away. Once you’re done testing it out, you can transition your trial org to a
production org with the help of youraccount executive or solution engineer. Verified
References: : Trailhead Module 5
Question # 24
To access Financial Services Cloud Lightning Components "My Domain" must be enabled.How does the System Admin accomplish this?
A. Register a subdomam using the My Domain wizard and then deploy it B. Open a case with SalesforceSupport C. Enable Communities D. Go to Custom Settings and edit the Industries Settings
Answer: A
Explanation: My Domain is a feature in Salesforce that allows you to create a subdomain
for your org. You need to enable My Domain to access Financial Services CloudLightning
Components, such as Actionable Relationship Center, Relationship Map, Life Events &
Business Milestones, etc. To enable My Domain, you need to do the following:
Register a subdomain using the My Domain wizard in Setup > My Domain.
Deploy it to your users after testing it in your sandbox or developer org. Verified
References: : Salesforce Help Article [7]
Question # 25
Which 3 options does the Financial Services Cloud application offer to view and updateAccount-Account. Account-Contact, and Contact-Contact Relationships?
A. Actionable Relationship Center B. Family Members Component C. Relationship Map D. Group Members Component E. Life Events Component
Answer: A,C,D
Explanation: The following options are available to view and update Account-Account,
Account-Contact, and Contact-Contact Relationships in Financial Services Cloud:
Actionable Relationship Center: This is a Lightning component that displays a list
of all the relationships for a client or a group. You can use it to view, create, edit,
and delete relationships.
Relationship Map: This is a Lightning component that displays a graphical
representation of all the relationships for a client or a group. You can use it to
visualize and navigate the relationship network.
Group Members Component: This is a Lightning component that displays a list of
all the members of a group. You can use it to view, add, and remove group
members. Verified References: : Salesforce Financial Services Cloud User Guide,
An insurance company needs to ensure the record rollups aggregate information fromrelated records for several objects in the Financial Services Cloud at a client or group level.What should the administrator configure to meet the requirement?
A. Toshow all Primary Group member cases on a related list at the group level, theadministrator should add Cases as a picklist value to the Rollup__c field on AccountContact Relationship. B. Client-level records are aggregated by setting up client-level rollups to all primary groupmembers. C. When the administrator enables record rollups at the group level, all correspondingrecords are stamped with the Primary Group in the Rallup_c lookup field D. To show all Primary Group member opportunities on a related list at the group level, theadministrator should add Opportunities as a picklist value to the Household__c field onAccount Contact Relationship.
Answer: C
Explanation: According to the Salesforce documentation1, record rollups at the group
level allow you to aggregate information from related records for several objects in
FinancialServices Cloud. When you enable record rollups at the group level, all
corresponding records are stamped with the Primary Group in the Rollup__c lookup field.
This field is added to the Account, Contact, Account Contact Relationship, and Financial
Accountobjects. You can then use this field to create reports and dashboards that show
aggregated data for each group.
Question # 27
Which 3 out of the box capabilities come with Financial Services Cloud Lead & ReferralManagement?
A. Referral Conversion B. Assigning a Referral C. Round Robin Referral Routing D. Accepting a Referral E. Referral Automated Approvals
Answer: A,B,D
Explanation:
The following out of the box capabilities come with Financial Services Cloud Lead &
Referral Management:
Referral Conversion: This capability allows you to convert a referral to an
opportunity, a contact, or an account. You can use this capability to track the
progress and outcome of a referral and measure its impact on your business.
Assigning a Referral: This capability allows you to assign a referral to another
user, queue, or line of business. You can use this capability to route a referral to
the appropriate person or team who can best meet the customer’s need or
interest.
Accepting aReferral: This capability allows you to accept a referral that is assigned
to you or your queue. You can use this capability to acknowledge that you have
received a referral and are ready to work on it. Verified References: : Salesforce
Help Article 1 : Salesforce Help Article 3 : Salesforce Help Article 5
Question # 28
Cumulus Insurance's business processes are quite complex, and steps in the process mayvary dependingon the information captured.Which three actions regarding functionality and features should a consultant suggestexploring to help guide Cumulus Insurance users through these processes?
A. Build custom Lightning pages that correspond to each stage of thebusiness process. B. Configure Dynamic Actions for Lightning pages. C. Enable In-App Guidance to provide walk-throughs. D. Use flows to remove the neea for complex Lightning pages. E. Configure Dynamic Lightning pages.
Answer: B,C,D
Explanation:
The following actions regarding functionality and features should be suggested to help
guide Cumulus Insurance users through their complex business processes:
Configure Dynamic Actions for Lightning pages. Dynamic Actions are a feature
that allows you to customize the actions that appear on a Lightning page based on
criteria such as record type, field value, device type, or user profile. You can use
Dynamic Actions to show or hide actions that are relevant or irrelevant for each
stage of the business process, such as creating a case, sending an email, or
generating a quote.
Enable In-App Guidance to provide walk-throughs. In-App Guidance is a feature
that allows you to create prompts and guided tours that appear within the
Salesforce app to help users learn new features, completetasks, or adopt best
practices. You can use In-App Guidance to provide step-by-step guidance for
complex business processes, such as onboarding a customer, submitting a claim,
or renewing a policy.
Use flows to remove the need for complex Lightning pages.Flows are a tool that
allows you to automate business processes and guide users or customers through
screens that collect and display information. Flows can have multiple steps and
branching logic that ask for different information depending on the responses. You
can use flows to simplify and streamline complex business processes, such as
applying for a loan, enrolling in a plan, or changing a beneficiary. Verified
References: : Salesforce Help Article [12] : Salesforce Help Article [13] :
Salesforce Help Article [14]
Question # 29
Our Personal Banker Hank Burton is learning to use Action Plans to ensure compliance inthe clientonboarding process. Where can Hank see Action Plan Tasks? (2 options)
A. Hank will be able to see the Action Plan tasks on the related list of the Account pagelayout. B. Hank will be able to see the Action Plan Tasks assigned to him on the standardSalesforce task list. C. Once the Action Plan is assigned, Hank can see the related Tasks on the Timeline. D. Hank will be able to see the Action Plan Tasks assigned to him on his calendar.
Answer: A,B
Explanation:
Hank can see Action Plan Tasks in two places:
Onthe related list of the Account page layout, where he can view all the tasks
associated with an account and their status, due date, owner, and priority4.
On the standard Salesforce task list, where he can view all the tasks assigned to
him across different accounts and filter them by various criteria.
Question # 30
Which two statements are true for aGroup in Financial Services Cloud?
A. Financial Services Cloud includes a group record type for households B. A group is a type of account record that people and businesses can be related tothrough the Financial Account relationship object C. A group is atype of account record that people and businesses can be related to throughthe account contact relationship object. D. Financial Services Cloud includes a group record type for businesses
Answer: A,C
Explanation:
The following statements are true for a Group inFinancial Services Cloud:
Financial Services Cloud includes a group record type for households, which is a
record type that represents a collection of individuals who share financial goals,
such as family members or roommates.
A group is a type of accountrecord that people and businesses can be related to
through the account contact relationship object, which is a junction object that links
an account to a contact or an individual and defines their role or relationship with
that account.
Question # 31
The Actionable Relationship Center (ARC) is using the Association Type picklist to controlthe account-account relationships. Which three of the following names are AssociationType picklist field values?
A. Member B. Group C. Trust D. Family E. Peer
Answer: C,D,E
Explanation:
The following names are Association Type picklist field values:
Trust, which is a value that indicates that the accounts are related through a trust
relationship.
Family, which is a value that indicates that the accounts are related through a
familyrelationship.
Peer, which is a value that indicates that the accounts are related through a peer
relationship.
Question # 32
An insurance company wants to create a car insurance quote process for its website. Theprocess should include the following functionality:• The user has to enter contact and address information.• The user has to enter the driver's age and the car model and year.• Theprocess should calculate an insurance quote based on the data the customerprovided and save the offer to the client's record.Which three OmniStudio tools should the consultant use to design a solution that meetsthese requirements?
A. OmniScripts B. Integration Procedures C. FlexCards D. APEX Code E. Business Rules Engine
Answer: A,B,E
Explanation:
The following OmniStudio tools should be used to design a solution that meets the requirements for creating a car insurance quote process for the website:
OmniScripts,which are tools that allow users to create guided, interactive, and
intuitive scripts that capture data and execute actions. By using OmniScripts, the
consultant can create a script that guides the user through the car insurance quote
process and capturesthe contact and address information, the driver’s age, and
the car model and year.
Integration Procedures, which are tools that allow users to orchestrate data and
actions across multiple systems using RESTful APIs. By using Integration
Procedures, the consultant can create a procedure that calls the core system
service to calculate an insurance quote based on the data provided by the user
and returns the quote to the OmniScript.
Business Rules Engine, which is a tool that allows users to define business logic
and validation rules using natural language expressions. By using Business Rules
Engine, the consultant can create rules that validate the data entered by the user
and enforce any business policies or conditions for the car insurance quote
process.
Question # 33
A consultant is configuring a demo for a customer but cannot create new residential loanapplication records. What is prohibiting the consultant from creating a new residential loan application?
A. The Residential Loan Application flow was not enabled in the setup. B. The administrator did not enable "Allow Mortgage Access" inSetup. C. The user does not have "Mortgage User" checked in their user record. D. The administrator did not assign the Mortgage permission set to the user.
Answer: D
Explanation:
The administrator did not assign the Mortgage permission set to the user. The
Mortgagepermission set is required to access the Residential Loan Application object and
its related objects, such as Loan Application Form, Loan Assessment, and Loan Product.
Without this permission set, the user cannot create, edit, or view residential loan application
records. The administrator can assign the Mortgage permission set to the user from the
user detail page in Setup.References: [Mortgage Permission Set], [Residential Loan
Application Object]
Question # 34
How are identification documents, other assets, liabilities, goals, and revenue modeled, inan existing Financial Services Cloud org using the individual account model?
A. An administrator is logged in to DataLoader with their own credentials to insert newBusiness Account records into their Salesforce environment. They forget to specify theAccount Owner field in the import file. B. Assuming there are no other issues, what should happen when the administratoruploadsthe import file?The Attachment object is used to represent other assets, liabilities, and goals. In theindividual model, these attachments are related to the Account object. C. Custom obiects are used to represent other assets, liabilities, and goals. In the individualmodel, these objects are related to the Account oJ Nj. D. Document, Note, and Attachment objects are used to represent other assets, liabilities,and goals. In the individual model, these objects are related to the person account.
Answer: B
Explanation:
In an existing Financial Services Cloud org using the individual account model, custom
objects are used to represent other assets, liabilities, and goals. These objects are related
to the Account object via lookup relationships. For example:
The Other Asset object is used to represent non-financial assets owned by an
account holder, such as real estate properties, vehicles, or jewelry.
The Other Liability object is used to represent non-financial liabilities owed by an
account holder, such asmortgages, loans, or taxes.
The Financial Goal object is used to represent financial objectives pursued by an
account holder, such as retirement planning, education funding, or debt reduction.
Verified References: : Salesforce Help Article [10] : Salesforce Help Article [11] :
Salesforce Help Article [12]
Question # 35
A consultant is working with a new customer and has gained a firm understanding of theirbusiness processes and systems in preparation for implementing Salesforce FinancialServices Cloud.What should the consultant create as a deliverable for the current state business process?
A. Word document telling the story of the process from the user's perspective B. An Excel spreadsheetwith steps of the process as rows, and systems and personas incolumns C. An end-to-end visualjmap of the process using personas, systems, inputs, andoutcomes D. A Powerpoint deck wftJscreenshots of the current systems and callouts to what ishappening oneach slide
Answer: C
Explanation:
To document the current state business process for implementing Salesforce Financial
Services Cloud, the consultant should create an end-to-end visual map of the process
using personas, systems, inputs, and outcomes. A visual map isa tool that can help
illustrate the flow of a business process from start to finish, showing the steps, decisions,
and dependencies involved in each stage. A visual map can also include personas,
systems, inputs, and outcomes to provide more context and detail for each step of the
process. Personas are fictional characters that represent the different roles or users that
participate in or interact with the process. Systems are the tools or applications that are
used to perform or support the process. Inputsare the data or information that are required
or provided for each step of the process. Outcomes are the results or outputs that are
achieved or delivered by each step of the process. Verified References: : Salesforce Help
Article 3 : Salesforce Help Article [4]
Question # 36
Our Personal Banker Hank Burton wants to encourage his customers to providerequireddocuments for a loan application. He creates Document Checklist Items that helphis customers to manage file uploads to speed up loan approval. For which of the followingrecords does Salesforce support Document Checklist Items out of the box? (ChooseThree)
A. Contact B. Lead C. Account D. Residential Loan Application E. Opportunity
Answer: C,D,E
Explanation:
The following records support Document Checklist Items out of the box in Financial
Services Cloud:
Account: An Account is a record that represents a person or anorganization that
has a business relationship with your company. You can use Document Checklist
Items to request and track documents from your account holders, such as identity
proofs, tax forms, or contracts.
Residential Loan Application: A Residential Loan Application is a record that represents a request for a loan to purchase or refinance a residential property. You
can use Document Checklist Items to request and track documents from your loan
applicants, such as income statements, credit reports, or property appraisals.
Opportunity: An Opportunity is a record that represents a potential sale or deal for
your products or services. You can use Document Checklist Items to request and
track documents from your opportunity owners, such as proposals, quotes,or
agreements. Verified References: : Salesforce Help Article 2 : Salesforce Help
Article 3 : Salesforce Help Article 4
Question # 37
The system administrator team at a retail consumer bank just received data migrationinstructions and guidance on Data Loader from their Salesforce architect to upgrade theexisting Service Cloud org to a Financial Services Cloud (FSC) org.In what order should the Salesforce objects be uploaded during an FSC data migration?
A.1. Accounts and contacts2. Financialaccounts3. Account groups and households B.1. Financial accounts2. Accounts and contacts3, Account groups C.1. Accounts and contacts2. Households3. Financial accounts D.1. Households2. Financial accounts3. Person accounts
Answer: A
Explanation:
The order of uploading Salesforce objects during an FSC data migration is important to ensure data integrity and avoid errors. The recommended order is:
Accounts and contacts: These are the core objects that store the basic information
about the customers and their relationships. They should be uploaded first to
establish the foundation for the FSC data model4.
Financial accounts: These are the custom objects that store the financial
information about the customers, such as balances, interest rates, fees, and
transactions. They should be uploaded after the accounts and contacts, and linked
to them using lookupfields5.
Account groups and households: These are the custom objects that group
theaccounts and contacts based on common attributes or relationships, such as
family members or business partners. They should be uploaded after the financial
accounts, and linked to them using junction objects6.
References:
Financial Services Cloud Data Model
Data Migration Best Practices
Accounts and Contacts
Financial Accounts
Account Groups and Households
Question # 38
How can the Salesforce Admin change the configuration to summarize Financial Goals atthe household level?
A. Add a custom Rollup By Lookup (RBL) rule. B. Financial Goalscan not be summarized at the household level. C. Create a formula field and add it to the Account page layout D. Update the selection in "Activities & Objects to Roll Up' to indude Financial Goals
Answer: D
Explanation: To change the configuration to summarizeFinancial Goals at the household
level, you need to update the selection in “Activities & Objects to Roll Up” to include
Financial Goals. This option is available in Setup > Financial Services Settings > Activities
& Objects to Roll Up. By selecting Financial Goals, you enable Group-Level Rollups for
Financial Goals, which display the total number of goals, completed goals, and completion
percentage of all the goals that belong to a group. Verified References: : Salesforce
A consulting firm is asked to add Events and Milestones to a Lightning record page to givefinancial advisors deeper insights into their customers' lives.What should the consultant configure to enable advisors to capture Once-in-a-Lifetimeevents and, at the same time, prevent users from accidentally creating more thanone event of such an event type?
A. Once-in-a-Lifetime event types B. Special event types C. Single event types D. Unique event types
Answer: D
Explanation:
To enable advisors to captureOnce-in-a-Lifetime events and prevent users from
accidentally creating more than one event of such an event type, the consultant should
configure Unique event types. Unique event types are event types that can only be created
once for each contact or individual, such as birth, death, or marriage. By using Unique
event types, the consultant can ensure that advisors can capture important life events for
their customers and avoid duplication or inconsistency.
Question # 40
Which three referral metrics aretracked with custom components included in FinancialServices Cloud?
A. Web to Lead Referrals B. Expressed interests C. My Top Referrers D. My Approved Referrals E. Referrals Assigned to me
Answer: B,C,E
Explanation:
The following referral metrics are tracked withcustom components included in Financial
Services Cloud:
Expressed interests: This metric shows the number of referrals that have a specific
expressed interest, such as a mortgage, a credit card, or a checking account. You
can use this metric to understandthe customer needs and interests that generate
the most referrals.
My Top Referrers: This metric shows the top referrers who have created referrals
for you, ranked by the number of referrals and the conversion rate. You can use
this metric to identify andappreciate your best sources of business.
Referrals Assigned to me: This metric shows the number of referrals that are
assigned to you and their status, such as New, In Progress, or Closed. You can
use this metric to monitor and manage your referral pipeline and prioritize yourc follow-up actions. Verified References: : Salesforce Financial Services Cloud User
Salesforce Financial Services Cloud User Guide, page 42.
Question # 41
A retail bank is using Financial Services Cloud to support its operations.The bank hasreceived complaints that its clients' documentation is often submitted late and when clientscall, customer service agents are struggling with multiple systems to determine where thedocumentation is.Which solution should a consultant suggestthe client explore?
A. A Marketing Cloud integration to manage client communications B. An APEX solution to leverage the SendMail capabilities of Salesforce C. Process Builder to create automatl&Socument requests for missing items D. The Send Documents flow for Retail Banking
Answer: D
Explanation:
The solution that the consultant should suggest the client explore to improve its clients’
documentation submission and tracking is the Send Documents flow for Retail Banking.
The Send Documents flow for Retail Banking is aprebuilt flow that allows users to send
documents requests to clients via email and track the status of the requests in FSC. The
flow uses DocuSign eSignature integration to enable clients to sign and return documents
electronically. By using the Send Documents flow for Retail Banking, the consultant can
help the client streamline and simplify its document management process and improve its
customer service agents’ efficiency
Question # 42
During a Financial Services Cloud implementation at an insurance company, a consultantneeds to design a broker data model for the broker web portal. The given requirements are:1. Brokers are treated individually, even if they are associated with the same company.2. Brokers should never have access to other brokers' data.3. Brokers can nominate their assistants to access the broker portal.4. An assistant can sometimes work for multiple brokers.Which two considerations should the consultant consider regarding the data model?
A. The Broker Assistant should be modeled as a Contact. Then, leverage Contact toMultiple Account features if this assistant needs to work for multiple brokers. B. Brokers should be modeled as Contact and the Broker company should be modeled asAccount, even if they're a legal entity '-' individually. C. Brokers need to be modeled as Account and Contact individually, as each broker is alegal entity in Salesforce. Then, use a Group 1-1 Account to model their company. D. The Broker Assistant should be modeled as a Contact. Then, use Contact to Contactassociation if they need work for multiple D Brokers.
Answer: A,C
Explanation:
The followingconsiderations should be considered regarding the data model for the broker
web portal:
The Broker Assistant should be modeled as a Contact. Then, leverage Contact to
Multiple Account features if this assistant needs to work for multiple brokers. This
is because Contacts are records that represent individuals who are associated
with an account. By using Contacts, the consultant can capture the personal
information of the broker assistants and relate them to their employers. By using
Contact to Multiple Accounts features, the consultant can enable a contact to have
relationships with multiple accounts and specify different roles and start and end
dates for each relationship.
Brokers need to be modeled as Account and Contact individually, as each broker
is a legal entity in Salesforce. Then, use a Group to model their company. This is
because Accounts are records that represent business entities or organizations
that are involved in business transactions with your company. By using Accounts,
the consultant cancapture the business information of each broker and treat them
as legal entities in Salesforce. By using Contacts, the consultant can capture the
personal information of each broker and relate them to their accounts. By using
Groups, which are records thatrepresent collections of accounts or contacts that
share financial goals or characteristics, the consultant can model the broker
company and associate multiple brokers with it
Question # 43
Lake Tahoe Bank, an existing Salesforce customer, is planning to implement FinancialServices Cloud. Their Salesforce Admin is considering whether to use a new Salesforceorg or upgrade the existing org. Which three of the considerations below indicate that anew Salesforce org is the better choice9
A. The bank wants to use this project as an opportunity toretire customization B. The current implementation is using a product-centric view and the bank wants to moveto a customer-centric view. C. Data migration is a big concern The current org has a large amount of data and theBank wants to minimize data migration efforts. D. The bank has limited redesign opportunities for business capabilities. E. Existing business capabilities and processes can be redesigned to deliver a higherbusiness impact
Answer: A,B,E
Explanation:
The following considerations indicate that a new Salesforce org is the better choice for
implementing Financial Services Cloud:
The bank wants to use this project as an opportunity to retire customization. A new
org will allow the bank to start fresh and avoid carrying over unnecessary or
outdated customization that may conflict with Financial Services Cloud features or
best practices.
The current implementation is using a product-centric view and the bank wants to
move to a customer-centric view. A new org will allow the bank to adopt the
Financial ServicesCloud data model, which is designed to provide a holistic view of
the customer and their relationships, goals, financial accounts, activities, and
interactions.
Existing business capabilities and processes can be redesigned to deliver a higher
business impact. A new org will allow the bank to leverage the Financial Services
Cloud capabilities, such as Action Plans, Relationship Groups, Rollup By Lookup,
Service Processes, etc., to optimize their business processes and enhance their
customer experience. Verified References: : Salesforce Help Article 6
Question # 44
Lake Tahoe Bank would like to reslricl their Financial Services Cloud users from viewingcertain types of milestones that might be irrelevant to their customers or might causenegative sentiment. How can the Salesforce Admin implement such a requirement?
A. The Salesforce Admin can manage sensitive Life Evenls using sharing rules. B. The Salesforce Admin can hide the life Event or Business Milestone type, by removing itfrom the Event Type picklist. C. The Salesforce Admin can hide sensitive Life Events on Ihe Life Events component onthe Lightning Page using the Properties pane. D. TheSalesforce Admin can manage sensitive Life Events using Permission Sets.
Answer: C
Explanation:
The Salesforce Admin can hide sensitive Life Events on the Life Events component on the
Lightning Page using the Properties pane. The Life Events component is a
Lightningcomponent that displays a timeline of life events and business milestones for a
client or a group. The Admin can use the Properties pane to customize the component and
select which event types to show or hide on the timeline.
Question # 45
A financial services company wants to plan ahead for designing the Financial ServicesCloud (FSC) implementation. Which three activitiesshould the implementation teamprioritize during planning?
A. Prepare for integrations with transactional systems, external data sources, custodians,and any other platforms that the company's business relies on. B. Beyond the preconfigured settings, evaluate whether they need advancedcustomizations. C. Enable and configure person accounts in FSC, and assign users with permission setlicenses. D. Review the out-of-the-box capabilities and compare them to the company's currentneeds. E. Design the modifications to fields, picklists, layouts, and othKrequired features tosupport business processes.
Answer: A,B,D
Explanation:
The following activities should be prioritized by the implementation team during planning for
designing the Financial Services Cloud implementation:
Prepare for integrations with transactional systems, external data sources,
custodians, and any other platforms that the company’s business relies on.
Integrations are the connections or interactions that allow data or functionality to
flow between different systems or platforms. You should prepare for integrations
with your existing or new systems or platforms that support your business
processes, such as transactional systems, external data sources, custodians, or
other platforms. You should also consider the integration methods, tools,
requirements, and challenges that you will need to address during the
implementation.
Beyond the preconfigured settings, evaluate whether they need advanced
customizations. Customizations are the changes or modificationsthat you make to
Salesforce to meet your specific business needs or preferences. You should
evaluate whether you need advanced customizations beyond the preconfigured
settings that Financial Services Cloud provides out of the box, such as custom
objects,fields, formulas, validation rules, workflows, triggers, or components. You
should also consider the impact, benefits, and risks of your customizations on your
data model, user interface, performance, security, or maintenance.
Review the out-of-the-box capabilities and compare them to the company’s current needs. Out-of-the-box capabilities are the features or functions that Financial
Services Cloud offers without any customizations or configurations. You should
review the out-of-the-box capabilities and compare them to your company’s
current needs and expectations. You should also identify any gaps or opportunities
for improvement that you can address with configurations or customizations during
the implementation. Verified References: : Salesforce Help Article [12] : Salesforce
Help Article [13] : Salesforce Help Article [14]
Question # 46
What does the Salesforce Admin have to install to provide users access to referraldashboards and reports?
A. The managed extension package for intelligent Need-Based Referrals and Scoring B. Einstein Analytics for Financial Services C. The unmanaged extension package for Intelligent Need-Based Referrals and Scoring D. Salesforce CRM Dashboards
Answer: C
Explanation: The unmanaged extension package for Intelligent Need-Based Referrals and Scoring
provides users access to referral dashboards and reports, as well as referral scoring and
routing features.
Question # 47
Which two limitations should a Salesforce Administrator consider before enabling PersonAccounts?
A. Person Accounts can be enabled and disabled only by contacting Salesforce Support B. Person Accounts cannot be disabled once they were enabled C. Creating a client record via Salesforce Inbox is not supported. D. AppExchange packages will not work if Person Accounts are enabled
Answer: B,C
Explanation:
The following limitations should be considered before enabling Person Accounts in
Financial Services Cloud:
Person Accounts cannot be disabled once they were enabled. Enabling Person
Accounts is an irreversible action that affects your data model and user interface.
You should carefully evaluate your business needs and test the functionality in a
sandbox or developer org before enabling it in production.
Creating a client record via Salesforce Inbox is not supported. Salesforce Inbox is
a feature that allows you to access Salesforce data and actions from your email
application. However, you cannot use Salesforce Inbox tocreate a client record as
a Person Account. You can only create a client record as an Individual Model
record using Salesforce Inbox. Verified References: : Salesforce Help Article 4 :
Salesforce Help Article 5
Question # 48
What feature does a Salesforce Administrator need to enable so users can see all thereferrals for the members of a group?
A. Referral Scoring B. Referrals Rollups C. Group Member Referrals D. ReferralGroup Process Builder
Answer: B
Explanation:
Referrals Rollups is a feature that enables users to see all the referrals for the members of
a group, such as a branch or a team. It also allows users to filter referrals by status, priority,
or owner.
Question # 49
Which of the following statements are correct when creating Financial Goals?
A. Users can only create savings oriented goals. B. Users require the Financial Goals permission set to works with Financial Goals C. Users can associate a goal with a specific Financial Account. D. Users can create goals for paying down debt
Answer: D
Question # 50
An investment banker is looking to take detailed meeting notes and share them easily withhis colleagues while specifying confidentiality and meeting attendees. Which FinancialServices Cloud feature should a consultant recommend in this scenario?
A. Notes B. Events C. Engagement Interaction D. Interaction Summary
Answer: D
Explanation: Interaction Summary is the Financial Services Cloud feature that should be
recommended in this scenario. Interaction Summary is a standard object that represents a
summary of an interaction with a client or a group of clients. It allows the user to capture
meeting notes, specify confidentiality level, link related records, and associate interaction
participants. Interaction Summary can be created from the Interaction Summary
component on a record page or from the New Interaction Summary action on a list view or
related list.References: [Interaction Summary Object], [Create an Interaction Summary]
Question # 51
Lake Tahoe Bank is rolling out FinancialServices Cloud and the VP of IT is concernedabout the cost of the licenses. The System Admin recommends using restricted licenses forusers that need only limited access to Financial Service Cloud features. Which FinancialServices Cloud permission set license enables user access to a license with contractualrestrictions for Financial Services Cloud and can be used to grant restricted access tousers like Bank Tellers?
A. Financial Services Cloud Standard B. Client Segmentation C. Financial Service CloudBasic D. Financial Service Cloud Extension
Answer: C
Explanation:
To grant restricted access to users like Bank Tellers who need only limited access to
Financial Services Cloud features, the Admin can use Financial Service Cloud Basic
permission set license. This license enables user access to a license with contractual
restrictions for Financial Services Cloud and provides access to core objects such as
accounts, contacts, leads, opportunities, cases, activities, reports, dashboards, and custom
objects. This license also provides access to some Financial Services Cloud features such
as Action Plans, Actionable Relationship Center (ARC), Branch Management, Complaint
Management, Data Consumption Framework (DCF), Discovery Framework (DF),
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Mei Chen
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Sarah
John Smith
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