Financial Services Cloud Accredited Professional (AP-208) Free Practice Test

Question 1

An asset management firm that is moving to Salesforce from its old CRM wants to be able to bring over its client data on drivers' licenses and passports. 55m 058 Which Financial Services Cloud object should a consultant recommend?

A. Received Document

B. Document Checklist Item

C. Identity Document

D. Identification Document

Correct Answer: D

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Question 2

A financial services company needs to capture a new type of referral that has different required fields than what is currently configured inthe org.
Which three steps should the administrator take to configure Financial Services Cloud correctly based on the scenario?

A. Create a new referral record type mapper record.

B. Update the lead page layout.

C. Create a new record type Referral' on the Lead object.

D. Create a custom Referral object.

E. Assign the record type to users.

Correct Answer: B,C,E

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Question 3

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 two Life Events, one for the birth of the child and one for the Education Savings 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 Financial Goal for the Education Savings Account

D. Create a Life Event for the birth of the child and a Referral for the Education Savings Account

E. Create a case and include the target Savings amount for the Education Savings Account and relate the case to the child's Person Account.

Correct Answer: C,D

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Question 4

The Salesforce Administrator for Lake Tahoe Bank is receiving a report that a members FinancialAccount Balances are not adding up to the Financial Summary field in the related Household. Which two steps should the admin take to troubleshoot the issue?

A. Ensure that the member is the Primary Member in that Household

B. Ensure the Primary Group flag in the Account record is checked.

C. Ensure a RollUpByLookup batch job is scheduled to run every 15 mins.

D. EnsureRollUpByLookup Configuration is Active

E. Ensure the reported Household is the Primary Group for the member

Correct Answer: D,E

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Question 5

A private equity company with only one administrator wants to upgrade Financial Services Cloud (FSC) from a Sales Cloud Unlimited Edition (UE) org. The company decided to install FSC greenfield on a new org to minimize the transfer of existing tech debt. In preparation for data migration, the administrator has been exporting backup files of the current org for a month.
What should the administrator do as part of the preparation for the data migration process?

A. To start, the administrator can run a daily backup dataexport for a week, then continue to run this job weekly until they are ready for data migration.

B. After running the backup data export manually for 2 weeks, the administrator can schedule this job to run weekly every Sunday to review the file on Mondays atthe start of the week for data comparisons
/analysis.

C. As a dry run, the administrator can test this process via a data export request from the primary sandbox to the existing Sales Cloud UE org.

D. The administrator can ask the business manager on the investment bank team to review the file directly.

Correct Answer: A

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Question 6

Which three of these statements are true for Rollup By Lookup (RBL) in Financial Services Cloud?

A. Salesforce does not recommend or provide support for creation or customization of Financial Services Cloud RBL rules

B. Person Accounts need to be enabled in order to use the Rollup by Lookup functionality.

C. RBL rules do not require a lot of processing power.

D. The Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the diem and group levels

E. An RBL (Rollup By Lookup) rule displays summary calculations of financial account information, such as account balances.

Correct Answer: A,D,E

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Question 7

Planter Farm Credit Union provides loan and insurance products to farmers who operate individually as well as in collaboration with other neighboring farms & farmers. The collaboration can be seasonal or for a limited timeframe. What construct in Financial Services Cloud is most appropriate to represent such collaborative customer business operations?

A. Account with Record Type = Business

B. Standard Household

C. Custom Relationship Group

D. Contact-Contact Relationship

Correct Answer: C

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Question 8

An investment bank client wants all its users to track client engagements with Interaction Summaries. In addition, those call logs need to be shared with specialists in other lines of business so they can assist in specific types of deals.
Which three Financial Services Cloud standard objects should be used to help accommodate these business requirements?

A. Financial DealParticipant

B. Interaction Summary Participant

C. Interaction Participant

D. Opportunity Participant

E. Participant Role

Correct Answer: A,B,E

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Question 9

Which 3 out of the box capabilities come with Financial Services Cloud Lead & Referral Management?

A. Referral Automated Approvals

B. Accepting a Referral

C. Round Robin Referral Routing

D. Assigning a Referral

E. Referral Conversion

Correct Answer: B,D,E

Question 10

Where should a Salesforce Administrator go to add custom icons to the Life Events and Business Milestones?

A. Setup > User Interface > icons > Life Events and Business Milestones

B. Lightning PageLayout > Life Events and Business Milestones Lightning Component > Page Icon Properties

C. Setup > Financial Services > Icons > Life Events and Business Milestones

D. Setup > Custom Code > Static Resources

Correct Answer: D

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Question 11

Lake Tahoe Bank branch manager is asking the Salesforce Administrator for improvements in Salesforce to speed up Loan Approval Processing. The Salesforce Admin isconsidering using Action Plans. Which 3 process improvements can be delivered using Action Plans?

A. Action Plans can automatically schedule the next appointment with the Advisor.

B. Action Plans can speed up the collection of a list of documents needed for the loan application

C. When you create an action plan from a template for a specific targetrecord, items that have no assigned user are assigned to the owner of that " target record.

D. Action Plans create repeatable tasks and automate the task sequences when executed

E. Action Plans enhance collaboration and productivity by automatically assigning task owners and deadlines for specific client processes.

Correct Answer: C,D,E

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Question 12

Agents for an insurance company need to know the current and past weather conditions when creating customer claims. The consultant implements a Flex Card for weather conditions in the console to ensure the agents can access the information. The Flex Card needs to provide fields extracted from a weather API and an account field from Salesforce.
Which method should the consultant use, according to best practices?

A. Streaming API

B. Integration Procedure

C. Data Raptor Extract

D. APEX classes

Correct Answer: B

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Question 13

A major Japanese bank is expanding geographically and opening additional branches in Asia. As such, they hired a regional consulting firmto implement Financial Services Cloud (FSC) locally.
What are the two expectations from implementing multi language features in FSC?

A. In Tokyo branches, the names of the Account, Prospect & Contact are in Japanese, but the package Advisor, Personal Banker, D Relationship Manager, and Client Associate profiles are in English.

B. Referrals in Singapore and Hong Kong will be shared in English, but in Macau, referrals will be shared in Portuguese.

C. Bankers in Japan have been accessing FSC in Japanese, but the new bankers in China will be accessing FSC in Chinese.

D. In Seoul, South Korea, the branch managers will be reviewing their FSC dashboards every morning in Korean, while their colleagues in " Shanghai, China, will be doing so in Chinese.

Correct Answer: C,D

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Question 14

A consultant is configuring ademo for a customer but cannot create new residential loan application records.
What is prohibiting the consultant from creating a new residential loan application?

A. The administrator did not enable "Allow Mortgage Access" in Setup.

B. The user does not have "Mortgage User" checked in their user record.

C. The administrator did not assign the Mortgage permission set to the user.

D. The Residential Loan Application flow was not enabled in the setup.

Correct Answer: C

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Salesforce Financial Services Cloud Accredited Professional (AP-208) Free Practice Test