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NEW QUESTION # 87
What happens when you make changes to a Financial account record or primary group membership?
- A. The Admin needs to update the rollup by lookup (RBL) rules.
- B. The Admin has to deactivate the Rollup By Lookup (RBL) rules and then force RBL recalculations.
- C. The rollup by lookup (RBL) configuration automatically updates the corresponding RBL summaries at the client and group levels.
Answer: C
NEW QUESTION # 88
Lake Tahoe Bank is rolling out Financial Services Cloud and the VP of IT is concerned about the cost of the licenses. The System Admin recommends using restricted licenses for users that need only limited access to Financial Service Cloud features. Which Financial Services Cloud permission set license enables user access to a license with contractual restrictions for Financial Services Cloud and can be used to grant restricted access to users like Bank Tellers?
- A. Financial Services Cloud Standard
- B. Financial Service Cloud Extension
- C. Client Segmentation
- D. Financial Service Cloud Basic
Answer: D
NEW QUESTION # 89
How can the Salesforce Admin change the configuration to summarize Financial Goals at the household level?
- A. Create a formula field and add it to the Account page layout
- B. Financial Goals can not be summarized at the household level.
- C. Add a custom Rollup By Lookup (RBL) rule.
- D. Update the selection in "Activities & Objects to Roll Up' to indude Financial Goals
Answer: D
Explanation:
To change the configuration to summarize Financial 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 Reference: : Salesforce Financial Services Cloud Implementation Guide, page 81.
NEW QUESTION # 90
Lake Tahoe Bank has been using Sales Cloud to support the business to consumer (B2C) activities. The VP of IT wants a better and more flexible data model that can support his B2C Banking use cases. He is considering upgrading to Financial Services Cloud, using Person Accounts. Which 2 of these statements are true for the Financial Services Cloud Person Account Data Model?
- A. Person Accounts can be merged with Business Accounts in Financial Services Cloud
- B. To share a Person Account record the admin will need to create sharing rules Account and Contact objects
- C. The Person Account model uses the standard Account object to hold all of the details about a person The Account object has been extended " with custom fields and a Person Account Record Type
- D. The Person Account record type can be used when a client is an agent for a broker firm that is doing business with the Financial Institution.
- E. The Person Account is a virtual object displaying data from Accounts and Contacts objects. It represents all aspects of the person and includes D data such date of birth or tax ID number.
Answer: C,E
NEW QUESTION # 91
What is included in an FSC license?
- A. Einstein Analytics for Financial Services
- B. Lightning Scheduler
- C. Action Plans
- D. FSC for Community
Answer: C
NEW QUESTION # 92
A regional bank is implementing Financial Services Cloud (FSC). Today, relationship managers receive email reminders 2 days, 2 weeks, and 2 months after a new customer opens their first bank account to contact the customer for feedback. In addition, the bank wants the ability for relationship managers to track and report on progress in FSC.
What should the administrator do when designing the future state business process using FSC features?
- A. When a lead or referral is converted, create an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months.
- B. When creating an account, create an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months.
- C. When an account status is changed to "Customer", send emails to the Account Owner to follow up in 2 days, 2 weeks, and 2 months.
- D. When an account status is changed to "CustomlrfVTcreate an action plan with tasks to follow up in 2 days. 2 weeks, and 2 months.
Answer: D
Explanation:
To design the future state business process using FSC features, the administrator should create an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months when an account status is changed to "Customer". An action plan is a feature that allows users to create templates for common client processes, such as account opening, loan application, or financial review. An action plan template consists of action plan items that define the tasks, subtasks, and deadlines for each step of the process. By creating an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months when an account status is changed to "Customer", the administrator can automate the email reminder process and track and report on the progress in FSC
NEW QUESTION # 93
True or False? The Lightning Component for the Actionable Relationship Center can only be added to the page layout for the Account or the Contact object.
- A. False
- B. True
Answer: A,B
NEW QUESTION # 94
Which three permission sets grant access or extend permissions for record alerts in Financial Services Cloud (FSC)?
- A. FSC Basic permission set
- B. FSC Foundations permission set
- C. FSC Standard permission set
- D. OmniStudio User permission set
- E. OmniStudio Admin permission set
Answer: B,C,D
Explanation:
Explanation
Record alerts are a feature of Financial Services Cloud that let users create and display alerts on record pages to highlight important information or actions. Record alerts are based on OmniStudio, a low-code platform for building digital experiences in Salesforce. To access or extend permissions for record alerts in Financial Services Cloud, users need to have one of the following permission sets:
FSC Standard permission set: This permission set grants access to the core features of Financial Services Cloud, including record alerts. Users with this permission set can view and create record alerts on supported objects, such as accounts, contacts, financial accounts, and opportunities1.
FSC Foundations permission set: This permission set grants access to the common features of Financial Services Cloud that are shared across subverticals, such as retail banking, wealth management, and insurance. Users with this permission set can view and create record alerts on supported objects2.
OmniStudio User permission set: This permission set grants access to the OmniStudio features, such as OmniScripts, DataRaptors, Integration Procedures, and Record Alerts. Users with this permission set can view and create record alerts on any object that has the Record Alert component enabled3.
References:
FSC Standard Permission Set
FSC Foundations Permission Set
OmniStudio User Permission Set
NEW QUESTION # 95
Lake Tahoe Bank has been using Sales Cloud to support the business to consumer (B2C) activities. The VP of IT wants a better and more flexible data model that can support his B2C Banking use cases. He is considering upgrading to Financial Services Cloud, using Person Accounts. Which 2 of these statements are true for the Financial Services Cloud Person Account Data Model?
- A. Person Accounts can be merged with Business Accounts in Financial Services Cloud
- B. To share a Person Account record the admin will need to create sharing rules Account and Contact objects
- C. The Person Account model uses the standard Account object to hold all of the details about a person The Account object has been extended " with custom fields and a Person Account Record Type
- D. The Person Account record type can be used when a client is an agent for a broker firm that is doing business with the Financial Institution.
- E. The Person Account is a virtual object displaying data from Accounts and Contacts objects. It represents all aspects of the person and includes D data such date of birth or tax ID number.
Answer: C,E
Explanation:
Explanation
The following statements are true for the Financial Services Cloud Person Account Data Model:
The Person Account is a virtual object displaying data from Accounts and Contacts objects. It represents all aspects of the person and includes data such as date of birth or tax ID number. You can use Person Accounts to store information about individual people by combining certain Account and Contact fields into a single record.
The Person Account model uses the standard Account object to hold all of the details about a person.
The Account object has been extended with custom fields and a Person Account Record Type. You can use Person Accounts to simplify your data model and reduce the number of records you need to manage.
NEW QUESTION # 96
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. Use the Action Plan item feature to add an additional task to a published Action Plan.
- B. Create an independent Task not related to original 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: A
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 # 97
What feature allows a user to group campaigns within a specific marketing program or initiative?
- A. Campaign members
- B. Campaign lists
- C. Campaign influence
- D. Campaign Hierarchy
Answer: D
NEW QUESTION # 98
Person accounts store information about individual people by combining certain account and contact fields into a single record. Using the Object Manager, on which Object do you configure the Person Account Page Layout?
- A. The Person Account Record Type on the Account Object
- B. The Person Account Record Type on the Contact Object
- C. The Person Account Object
Answer: C
NEW QUESTION # 99
Rachel is the primary member of the Adams household hired a new attorney. What type of relationship should the Wealth Advisor create in Financial Services Cloud for Rachel and her attorney before assigning the reciprocal role of "Attorney"?
- A. Create a Contact-Contact Relationships between the primary member of the Adams Household and the attorney.
- B. Create an Account-Account Relationship between the Addams Family Trust and the attorney.
- C. Create an Account-Account relationship between the Adams Household and the attorney
- D. Create an Account-Contact relationship between the Adams Household and the attorney.
Answer: A
Explanation:
To create a relationship between Rachel and her attorney before assigning the reciprocal role of "Attorney", the Wealth Advisor should create a Contact-Contact Relationship between the primary member of the Adams Household and the attorney. A Contact-Contact Relationship is a junction object that links two contacts or individuals and defines their relationship with each other2. By using Contact-Contact Relationship, the Wealth Advisor can capture Rachel's extended network of relationships with people outside of her household. Verified Reference: 2
NEW QUESTION # 100
Which three processes are part of Claims Management?
- A. Quoting
- B. Reserve Management
- C. Auto Adjudication
- D. Underwriting
- E. Payment
Answer: B,C,E
Explanation:
The following processes are part of Claims Management:
Auto Adjudication, which is a process that allows claims to be processed automatically without human intervention, based on predefined rules and criteria. Auto adjudication can improve the efficiency and accuracy of claims processing and reduce operational costs.
Reserve Management, which is a process that involves estimating and setting aside funds for future claims payments. Reserve management can help insurers manage their cash flow and solvency and comply with regulatory requirements.
Payment, which is a process that involves disbursing funds to claimants or providers after a claim has been approved. Payment can involve different methods, such as check, electronic funds transfer, or debit card. Payment can affect the customer satisfaction and retention rate of insurers.
NEW QUESTION # 101
Our Personal Banker Hank Burton wants to encourage his customers to provide required documents for a loan application. He creates Document Checklist Items that help his customers to manage file uploads to speed up loan approval. For which of the following records does Salesforce support Document Checklist Items out of the box? (Choose Three)
- A. Residential Loan Application
- B. Account
- C. Contact
- D. Opportunity
- E. Lead
Answer: A,B,D
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 an organization 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 Reference: : Salesforce Help Article 2 : Salesforce Help Article 3 : Salesforce Help Article 4
NEW QUESTION # 102
The Salesforce Administrator for Lake Tahoe Bank is receiving a report that a members Financial Account 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 RollUpByLookup Configuration is Active
- D. Ensure a RollUpByLookup batch job is scheduled to run every 15 mins.
- E. Ensure the reported Household is the Primary Group for the member
Answer: C,E
Explanation:
To troubleshoot the issue of Financial Account Balances not adding up to the Financial Summary field in the related Household, the Admin should take the following steps:
Ensure RollUpByLookup Configuration is Active, which is a custom setting that enables or disables the Rollup By Lookup (RBL) feature. RBL is a feature that allows users to aggregate data from financial accounts and display it at the client and group levels1.
Ensure the reported Household is the Primary Group for the member, which is a field on the Account object that indicates whether an account is the primary group for a contact or an individual. The primary group determines which financial summary fields are displayed on the contact or individual page2. Verified Reference: 12
NEW QUESTION # 103
What can be transferred from one user to another user during mass transfer of account records? (3 answers)
- A. Open activities
- B. Closed cases
- C. Related custom object records
- D. Open cases
- E. Closed activities
Answer: A,B,D
NEW QUESTION # 104
What steps does the Salesforce Administrator have to take to create a new Business Milestone Type?
- A. Find Person Life Event using the Object Manager and add a new picklist value on the Milestone Type Field.
- B. Find Business Milestone using the Object Manager and add a new picklist value on the Milestone Type Field
- C. In the Lightning Page Editor add the new Milestone Type to the Life Events & Business Milestones Lightning component
- D. In the Object Manager go to the Business Milestone object and create a new field using the name of the new milestone.
Answer: C
NEW QUESTION # 105
The Actionable Relationship Center can display which of the following relationships in the tree pane? Select 3 answers.
- A. Account-Contact Relationships
- B. Up to 5 Related Lists for an Account Record
- C. Up to 5 Related Lists for a non-Account Record
- D. Any Related List for the selected object record
- E. Account-Account Relationships
Answer: A,C,E
NEW QUESTION # 106
A bank needs help with many of its processes taking too long to complete. Many of its challenges are due to issues with handoffs between teams. The challenges also include users transferring control to the wrong person or team or forgetting to transfer it at all.
Which two Financial Services Cloud capabilities should help address these challenges?
- A. Roll-up Summaries
- B. Financial Accounts
- C. Action Plans
- D. Omni Scripts
Answer: C,D
NEW QUESTION # 107
To access Financial Services Cloud Lightning Components "My Domain" must be enabled. How does the System Admin accomplish this?
- A. Open a case with Salesforce Support
- B. Enable Communities
- C. Go to Custom Settings and edit the Industries Settings
- D. Register a subdomam using the My Domain wizard and then deploy it
Answer: D
Explanation:
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 Cloud Lightning 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]
NEW QUESTION # 108
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. Move the opportunity reports into each user's personal reports
- B. Use the show filter to filter report results and reduce records returned
- C. Update the sharing rules to limit user access to certain opportunity
- D. Move the opportunity reports into a folder with restricted access
Answer: B
NEW QUESTION # 109
Which three related lists are visible within the Actionable Relationship Center associated with the Account object?
- A. Notes and Attachments
- B. Household Financial Accounts
- C. Client Financial Goals
- D. Financial Holdings
- E. Cases
Answer: B,C,E
NEW QUESTION # 110
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