Financial-Services-Cloud PDF Exam Material 2024 Realistic Financial-Services-Cloud Dumps Questions

Updated Salesforce Financial-Services-Cloud Dumps – PDF & Online Engine

NEW QUESTION # 11
Scott Adams is opening a joint savings account with his mom, Rachel Adams. Rachel Adams is the primary member of the Adams Household. Personal Banker Hank Burton wants to make sure that Scott's data is rolling up to the Adams Household. How can the Banker accomplish this?

• A. Add Scon as a Related Contact to the Adams Household.
• B. Make the Adams Household Scott's primary Group and edit tie Activities & Objects to ft* Up.
• C. Make the Adams Household Scotts pnmary Group and make Scott the pnmary member
• D. Disable the Primary Group setting fof Scon on the Adams Household

Answer: B

NEW QUESTION # 12
What tab setting on a profile makes a tab NOT accessible on the All Tabs page or visible in any apps?

• A. Tab Hidden
• B. Read-Only
• C. Default Off
• D. Default On

Answer: A

NEW QUESTION # 13
A client has called their Financial Advisor to open an Education Savings Account for their first child. What 2 steps should the Financial Advisor take in the Financial Services Cloud App to capture that information?

• A. Create a case and include the target Savings amount for the Education Savings Account and relate the case to the child's Person Account.
• B. Create a Referral for the Banker for an Education Savings Account
• C. Create a Life Event for the birth of the child and a Referral for the Education Savings Account
• D. Create two Life Events, one for the birth of the child and one for the Education Savings Account.
• E. Create a Life Event for the birth of the child and a Financial Goal for the Education Savings Account

Answer: C,E

Explanation:
Explanation
The following steps should be taken by the Financial Advisor in Financial Services Cloud App to capture the information about opening an Education Savings Account for their client's first child:
Create a Life Event for the birth of the child and a Referral for the Education Savings Account. A Life Event is a construct in Financial Services Cloud that allows you to track significant events in your client's life that may affect their financial needs or goals. You can use Life Events to create a record for the birth of the child and link it to the client's account. A Referral is a construct in Financial Services Cloud that allows you to capture a customer need or interest and assign it to another advisor or line of business. You can use Referrals to create a record for the Education Savings Account and route it to the appropriate banker.
Create a Life Event for the birth of the child and a Financial Goal for the Education Savings Account. A Financial Goal is a construct in Financial Services Cloud that allows you to track your client's financial objectives and measure their progress towards achieving them. You can use Financial Goals to create a record for the Education Savings Account and associate it with the client's account and financial accounts. Verified References: : Salesforce Financial Services Cloud User Guide, page 29. : Salesforce Financial Services Cloud User Guide, page 30. : Salesforce Financial Services Cloud User Guide, page
33.

NEW QUESTION # 14
Lake Tahoe Bank's System Administrator is implementing intelligent Need-Based Referrals in Salesforce. Referrals are modeled on the Lead object. Which three Lead features can the System Admin use for Intelligent Need-Based Referrals?

• A. Einstein Lead Scoring
• B. Web to-Lead
• C. Lead Approval
• D. Lead Assignment Rules
• E. Lead Routing

Answer: A,D,E

NEW QUESTION # 15
Which three types of preassembled flows can be utilized from the Financial Services Cloud (FSC) packages and the Lightning Flow for FSC package?

• A. Retail Banking flows
• B. Commercial Banking flow
• C. Insurance flow
• D. Mortgage flow
• E. Institutional Banking flow

Answer: A,C,D

Explanation:
Explanation
The Financial Services Cloud (FSC) packages and the Lightning Flow for FSC package provide preassembled flows that can be utilized to automate common financial services processes. The types of preassembled flows are:
Retail Banking flows: These flows enable retail banking customers to perform various self-service tasks, such as activating or closing a card, ordering checks, updating communication preferences, disputing transactions, and more1.
Insurance flow: This flow allows insurance customers to initiate the first notification of loss (FNOL) for an insurance policy2.
Mortgage flow: This flow helps mortgage customers to capture their financial information, such as assets, liabilities, income, and expenses, as part of the financial discovery process3.
References:
Financial Services Cloud Flows
Lightning Flow for Financial Services
Retail Banking Flows
Insurance Flow
Mortgage Flow

NEW QUESTION # 16
What functionality is included in the Financial Services Cloud Extension license? (2 correct answers)

• A. Analytics Templated Apps
• B. It enables user to configure Compliant Data Sharing
• C. It enables user access to the Action Plans feature
• D. It enables user access to the Actionable Relationship Center Lightning component
• E. It enables user access to Download Analytics Data and Install

Answer: B,D

NEW QUESTION # 17
Universal Containers requires that the organization-wide default for opportunities be set to public read/write. However, sales users are complaining that opportunity reports return too many results, making it difficult to find their team's opportunities in the report results.
How can the system administrator address this problem?

• A. Use the show filter to filter report results and reduce records returned
• B. Move the opportunity reports into each user's personal reports
• C. Move the opportunity reports into a folder with restricted access
• D. Update the sharing rules to limit user access to certain opportunity

Answer: A

NEW QUESTION # 18
Scott Adams calls his Personal Banker Hank Burton to apply for a loan to buy a boat. Hanks wants to refer Scott to the loan department, but the current process is manual and time-consuming. Hank is asking the bank's System Administrator to automate Referral creation in Salesforce. How can the Admin speed up and simplify Referral creation?

• A. Use the Case process and create Cases with Case Type 'Referrar'.
• B. Use
• C. Write a trigger to create Referrals from a 'Create Referral* button.
• D. Use Global Action To create Referrals.

Answer: D

Explanation:
To speed up and simplify Referral creation in Salesforce, the Admin can use Global Action to create Referrals. Global Actions are actions that let users create records without leaving their current page or context. By using Global Actions, the Admin can enable Hank to create Referrals from any page in Salesforce, such as Chatter, Home, or Account pages. The Admin can also customize the layout and fields of the Global Action to capture only relevant information for Referrals

NEW QUESTION # 19
Lake Tahoe Bank is migrating customer records from the Individual Model to Person Accounts. Which three steps should a Data Architect take to ensure a successful migration?

• A. Configure your Person Account record types m the Indrvidual Record Type Mapper.
• B. Log a case with Salesforce to perform the conversion from the indrvkJual Model to Person Accounts.
• C. Use a CSV field to map PersonRecordTypeld to the Person Account RecoroTypeld and use Data Loader to update Client Records
• D. Ensure Person Accounts is enabled on the org
• E. Enable 'Individual to Person Account Migration' in Custom Settings.

Answer: A,C,D

NEW QUESTION # 20
What should a Financial Advisor use to model the relationship between a business contact and a client that is modeled as a person account?

• A. Contact-Contact Relationship and the Reciprocal Rote
• B. Reciprocal Role
• C. Account-Contact Relationship and the Reciprocal Role
• D. Account-Account Relationship

Answer: C

NEW QUESTION # 21
When importing records from a system outside of Salesforce, which ID should be used to prevent the data import from creating duplicates?

• A. External ID
• B. Org ID
• C. User ID
• D. Data Load ID

Answer: A

Explanation:
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]

NEW QUESTION # 22
Lake Tahoe Bank is rolling out FSC and the VP of IT is concerned about the cost of the licenses. The system admin recommends using licenses for users that need only limited access to FSC features. Which FSC permission set license enables user access to a license with contractual restrictions for FSC and can be used to grand restricted access to users like Bank Tellers?

• A. FSC Standard
• B. FSC Basic
• C. Client segmentation
• D. FSC Extension

Answer: B

NEW QUESTION # 23
Lake Tahoe Bank has duplicate client records in their current CRM system because they come from a different systems of record. Any changes made in Salesforce should be updated in the source system. What can a Salesforce Administrator do to help bankers get a consolidated view of the individual in the Financial Services Cloud?

• A. Leverage Financial Services Cloud Relationship Groups to link duplicate client records and create a consolidated view.
• B. Create custom components to provide a single view of the client.
• C. Create a custom Person Account hierarchy to link duplicate client records.
• D. Link individuals using related contacts to link duplicate client records
• E. Implement deduplication rules in Salesforce and let the integration handle the updates to the source system.

Answer: A

Explanation:
A Relationship Group is a construct in Financial Services Cloud that allows you to model complex and dynamic relationships between clients and accounts. You can use Relationship Groups to link duplicate client records and create a consolidated view of their financial data, activities, and interactions. You can also use Relationship Groups to sync data between Salesforce and the source system using external IDs and integration tools. Verified Reference: : Salesforce Financial Services Cloud Implementation Guide, page 67.

NEW QUESTION # 24
Universal Containers currently assigns its users from the facilities and IT teams to the same profile. Universal container recently created a custom object to track company cars and wants only users from the facilities team to have access to this new object.
How can an administrator meet this requirement?

• A. Assign the facilities team to a new role in the role hierarchy.
• B. Modify the standard profile currently shared by both teams
• C. Create a custom profile for users on the facilities team
• D. Configure field-level security on the new object for the facilities team.

Answer: C

NEW QUESTION # 25
Omni Script represents processes with fast, personalized, and consistent responses. This type extends the metadata type and inherits its full name field. To use the Omni Script metadata type, what should the administrator enable in the Salesforce org?

• A. Einstein Relationship Insights
• B. Lightning Experience for Financial Services Cloud
• C. Discovery Framework
• D. Custom Domain

Answer: D

NEW QUESTION # 26
Which of the following is NOT an area that Salesforce Financial Services Cloud serves?

• A. Asset Management
• B. Corporate & Institutional Banking
• C. Legal Services
• D. Lending Services

Answer: C

NEW QUESTION # 27
How should developers configure customized nodes for display in the Actionable Relationship Center (ARC)?

• A. Select Use Flex Card from the node Display tab to show the node in a Flex Card
• B. Select Omni Script from the node Actions tab to show the node in an Omni Script.
• C. Reference the flex Card in the Display properties of the custom ARC relationship graph.
• D. Reference the Lightning web component in the Display properties of the custom ARC relationship graph.

Answer: C

NEW QUESTION # 28
A corporate investment banking associate at Cumulus Capital works with a trusted analyst to create pitch books, analyze market data, and generate reports. The banking associate is looking to capture sensitive deal information in Salesforce. They wish to share the deal information with the trusted analyst only, without giving access to Salesforce users up the management chain in the Role Hierarchy.
What should a consultant do in Salesforce to build the required sharing model for sensitive deal data?

• A. Use the Opportunity object to capture the deal data and use manual sharing to grant the analyst access.
• B. Use the Opportunity object to capture the deal data and use Compliant Data Sharing to grant the analyst access.
• C. Use the Financial Deal object to captu^* y^ deal data anc* use Compliant Data Sharing to grant the analyst access.
• D. Use the Financial Deal object to capture the deal data and use restriction rules to block user access above the banking associate in the Role Hierarchy.

Answer: D

Explanation:
Explanation
To build the required sharing model for sensitive deal data, the consultant should use the Financial Deal object to capture the deal data and use restriction rules to block user access above the banking associate in the Role Hierarchy. The Financial Deal object is a custom object in Financial Services Cloud that allows you to track and manage complex deals that involve multiple parties, products, and stages. You can use the Financial Deal object to store sensitive deal information, such as deal name, amount, status, or participants. You can also use restriction rules to limit the visibility of Financial Deal records based on criteria such as role, profile, or ownership. Restriction rules can override the organization-wide default sharing settings and block user access to records that they would otherwise be able to see through the Role Hierarchy or other sharing mechanisms.
Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2

NEW QUESTION # 29
In Financial Services Cloud, what is the criteria for commas and symbols to be displayed correctly on the Financial Account Summary component?

• A. User currency must match org default currency.
• B. User's locale and language must match user's currency.
• C. User's locale must match user's currency.
• D. Account currency must match org default currency.

Answer: C

Explanation:
The criteria for commas and symbols to be displayed correctly on the Financial Account Summary component is that user's locale must match user's currency. The locale is a setting that determines how dates, times, numbers, and currencies are formatted and displayed for a user. The currency is a setting that determines how monetary amounts are formatted and displayed for a user. By matching the user's locale with their currency, FSC can ensure that commas and symbols are displayed correctly on the Financial Account Summary component according to the user's preferences and expectations

NEW QUESTION # 30
Jen, the Financial Advisor at Lake Tahoe Wealth Management Company wants to modify a published Action Plan to support an additional task she needs in order to complete an annual review for a client. How should Jen do this?

• A. Create an independent Task not related to original Action Plan
• B. Use the Action Plan item feature to add an additional task to a published Action Plan.
• C. Use the 'task creator' tool to create a new task and associate with the existing Action Plan
• D. Contact her Salesforce Administrator and get her to make the change to the Action Plan for her.

Answer: B

Explanation:
To modify a published Action Plan to support an additional task, Jen should use the Action Plan item feature to add an additional task to the published Action Plan. An Action Plan item is a construct in Financial Services Cloud that allows you to add, edit, or delete tasks in an existing Action Plan. You can use Action Plan items to customize your Action Plans according to your specific needs and preferences. Verified Reference: : Salesforce Help Article 1

NEW QUESTION # 31
Which of the following would be considered a Junction Object in Salesforce?

• A. A many-to-many relationship created with two master-detail relationship
• B. A custom object that contains a lookup field to a standard object
• C. A many-to-many relationship created with two lookup relationships
• D. Two standard objects that have lookup relationship with each other

Answer: A

NEW QUESTION # 32
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