2024 New Financial-Services-Cloud Dumps - Real Salesforce Exam Questions
Dependable Financial-Services-Cloud Exam Dumps to Become Salesforce Certified
The FSC Accredited Professional exam is designed to test a candidate's knowledge of the Salesforce Financial-Services-Cloud platform. Financial-Services-Cloud exam covers a wide range of topics, including financial planning, client management, investment tracking, and more. Candidates who pass the exam will earn the FSC Accredited Professional certification, which demonstrates their proficiency in using the platform.
To become a Salesforce Financial Services Cloud Accredited Professional, candidates must pass the FSC Accredited Professional Exam. Financial-Services-Cloud exam consists of multiple-choice questions and covers a wide range of topics related to the Salesforce Financial Services Cloud platform. Salesforce Financial Services Cloud (FSC) Accredited Professional certification is an industry-recognized credential that demonstrates a professional's expertise in the financial services industry and their ability to leverage Salesforce technology to enhance business operations.
NEW QUESTION # 99
Cumulus Bank has implemented Compliant Data Sharing in Financial Services Cloud. Which two things happen when an opportunity record that has opportunity participants with associated share table entries is set to Private?
- A. All opportunity participant records are delete
- B. The share table records are deleted.
- C. The opportunity participant records are not deleted.
- D. Share table records need to be manually deleted.
Answer: B,C
Explanation:
The following things happen when an opportunity record that has opportunity participants with associated share table entries is set to Private:
The share table records are deleted, which means that any sharing access granted by the opportunity participants is revoked.
The opportunity participant records are not deleted, which means that they still exist on the opportunity record and can be viewed by users who have access to the opportunity.
NEW QUESTION # 100
A Financial Services Cloud (FSC) administrator is setting up a permission set for Actionable Relationship Center. Which license should the administrator select on the Permission Set setup page?
- A. FSC Standard
- B. OmniStudio
- C. FSC Extension
- D. FSC Basic
Answer: A
Explanation:
Explanation
To set up a permission set for Actionable Relationship Center (ARC), the administrator should select FSC Standard as the license on the Permission Set setup page. FSC Standard is a permission set license that enables user access to a license with contractual restrictions for Financial Services Cloud and provides access to core objects and features, including ARC1. By selecting FSC Standard as the license, the administrator can grant users access to ARC and its related objects and fields
NEW QUESTION # 101
A wealth advisor is trying to relate a client to their attorney using the Add Contact option on the relationship tree but can't find any reciprocal roles displayed in the related role lookup. What are two reasons for this?
- A. Reciprocal roles have not been created in the org.
- B. The user should be using the Edit Group button to access reciprocal roles.
- C. Sharing rules have not been set up for reciprocal roles.
- D. The user should be using the Member Relationship button under the Actionable Relationship Center.
Answer: A,B
NEW QUESTION # 102
A consulting firm is asked to add Events and Milestones to a Lightning record page to give financial advisors deeper insights into their customers' lives.
What should the consultant configure to enable advisors to capture Once-in-a-Lifetime events and, at the same time, prevent users from accidentally creating more than one event of such an event type?
- A. Special event types
- B. Single event types
- C. Unique event types
- D. Once-in-a-Lifetime event types
Answer: C
Explanation:
To enable advisors to capture Once-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.
NEW QUESTION # 103
A financial services company offers special deposit products for its employees. These employees have customer records in Salesforce so that they can be serviced like normal customers. Only customer service employees within a specific group should be able to see these special deposit products in Salesforce to protect the personal financial information of bank employees.
How should the administrator configure sharing rules in Financial Services Cloud to meet these requirements?
- A. Create a Financial Account sharing rule based on criteri
- B. Create an Account sharing rule based on record owner.
- C. Create Account sharing rules based on criteria.
- D. Create a Financial Account sharing rule based on record owner.
Answer: A
Explanation:
Explanation
To meet the requirements of sharing special deposit products for employees, the administrator should create a Financial Account sharing rule based on criteria. A Financial Account sharing rule is a sharing rule that grants access to financial account records based on record owner or field values. A sharing rule based on criteria is a type of sharing rule that grants access to records that meet certain criteria. By creating a Financial Account sharing rule based on criteria, the administrator can share the special deposit products with the customer service employees within a specific group based on a field value that indicates the product type.
NEW QUESTION # 104
What functionality is included in the Financial Services Cloud Extension license? (2 correct answers)
- A. It enables user access to the Actionable Relationship Center Lightning component
- B. It enables user access to the Action Plans feature
- C. It enables user access to Download Analytics Data and Install
- D. Analytics Templated Apps
- E. It enables user to configure Compliant Data Sharing
Answer: A,E
NEW QUESTION # 105
Which three insurance processes are managed by the Policy Administration component?
- A. Commissions
- B. Payments
- C. Endorsements
- D. Approvals
- E. Underwriting
Answer: B,C,D
Explanation:
The following insurance processes are managed by the Policy Administration component:
Payments: Payments are the amounts that a policyholder pays to an insurance company for a policy or a claim. You can use the Policy Administration component to manage the payment schedules, methods, and statuses for your policies and claims. You can also use the Policy Administration component to integrate with external payment systems and track the payment transactions and balances for your policies and claims.
Approvals: Approvals are the processes that an insurance company follows to review and authorize a policy or a claim. You can use the Policy Administration component to configure and automate the approval workflows, rules, and criteria for your policies and claims. You can also use the Policy Administration component to assign approvers, send notifications, and monitor the approval statuses and histories for your policies and claims.
Endorsements: Endorsements are the changes or modifications that a policyholder requests or an insurance company makes to a policy. You can use the Policy Administration component to manage the endorsement requests, types, and statuses for your policies. You can also use the Policy Administration component to update the policy details, coverages, premiums, or terms based on the endorsements for your policies. Verified Reference: : Salesforce Help Article [9] : Salesforce Help Article [10] : Salesforce Help Article [11]
NEW QUESTION # 106
Which of these statements are true for Rollups in Financial Services Cloud
- A. All financial accounts information, such as account balances are calculated and summarized at the Financial Account Summary level
- B. Activities can not be rolled up on the activity timeline at group/household level.
- C. Choice 4
- D. Rollups are done at both the client and group levels
Answer: A
NEW QUESTION # 107
Lake Tahoe Bank wants their customer reps to be able to see client records such as Person Accounts, but what actions should an Admin take to ensure that all users see Person Accounts, but only specific users can view Financial Accounts (2 correct answers)
- A. Change OWD sharing on the "Financial Accounts" object to "Controlled by Parent"
- B. Change OWD sharing on the "Financial Accounts" object to "Private"
- C. Grant users access to Financial Account object with profile settings or permission set.
- D. Change OWD sharing on the "Financial Accounts" object to "Public Read/Write"
- E. Financial Account visibility inherits the related Person Account visibility settings
Answer: B,C
NEW QUESTION # 108
The Salesforce Admin of Lake Tahoe Bank wants to implement Financial Services Cloud using the individual object model. What are the steps to disable person accounts?
- A. Assign the Individual record type to the user profiles.
- B. Disable the Person Account custom setting.
- C. Assign the Person Account record type to the user profiles.
- D. Log a case with Salesforce to perform the conversion from Person Accounts to the individual model.
- E. Remove Person Account record types from the Individual Record Type Mapper.
Answer: A,B,E
NEW QUESTION # 109
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 'task creator' tool to create a new task and associate with the existing Action Plan
- B. Create an independent Task not related to original Action Plan
- C. Use the Action Plan item feature to add an additional task to a published Action Plan.
- D. Contact her Salesforce Administrator and get her to make the change to the Action Plan for her.
Answer: C
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 # 110
Which of the following allows you to report on historical data in Salesforce in order to monitor and spot trends?
- A. tabular report
- B. matrix report
- C. Reporting snapshot
- D. joined report
- E. summary report
Answer: C
NEW QUESTION # 111
Which three of the following statements are correct about the Actionable Relationship Center Manager (ARC)?
- A. ARC is certified to work with Person Accounts and Individual Accounts.
- B. To enable users to see the ARC, you will need to add the component for ARC to the page layout.
- C. The Salesforce Admin has to create a permission set for granting access to the ARC - FSC Lightning component.
- D. The Association Type picklist controls the account-account relationship that display in the ARC.
- E. ARC displays up to 5 related lists that have a configured compact layout.
Answer: B,D,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 relationships for 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 your business needs. Verified Reference: : Salesforce Help Article 3 : Salesforce Help Article 4 : Salesforce Help Article 5
NEW QUESTION # 112
A financial services company wants to plan ahead for designing the Financial Services Cloud (FSC) implementation. Which three activities should the implementation team prioritize 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. Design the modifications to fields, picklists, layouts, and othKrequired features to support business processes.
- C. Review the out-of-the-box capabilities and compare them to the company's current needs.
- D. Beyond the preconfigured settings, evaluate whether they need advanced customizations.
- E. Enable and configure person accounts in FSC, and assign users with permission set licenses.
Answer: A,C,D
Explanation:
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 modifications that 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]
NEW QUESTION # 113
Which of these statements is not correct about the visibility of Action Plan Tasks?
- A. Users will be able to see the Action Plan tasks on the related list of the Account page layout.
- B. The user can see tasks on the homepage if the Task Card is applied to the homepage.
- C. Once the Action Plan is assigned, you can see the related Tasks on the Timeline
- D. Users will be able to see the Action Plan tasks assigned to them through the standard Salesforce task lists.
Answer: A
NEW QUESTION # 114
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. Reciprocal Role
- B. Account-Account Relationship
- C. Account-Contact Relationship and the Reciprocal Role
- D. Contact-Contact Relationship and the Reciprocal Rote
Answer: C
NEW QUESTION # 115
Lake Tahoe Bank would like to restrict their FSC users from viewing certain types of milestones that might be irrelevant to their customers or might cause negative sentiment. How can a SF implement such a requirement?
(1 correct answer)
- A. Leverage Hide Sensitive Life Event Types & Business Milestone Types
- B. Use FLS on Milestones
- C. Create custom sharing rules on the Milestone object
- D. Remove the relevant permissions from the User Profile
Answer: A
NEW QUESTION # 116
What happens when you make changes to a Financial account record or primary group membership?
- A. The rollup by lookup (RBL) configuration automatically updates the corresponding RBL summaries at the client and group levels.
- B. The Admin needs to update the rollup by lookup (RBL) rules.
- C. The Admin has to deactivate the Rollup By Lookup (RBL) rules and then force RBL recalculations.
Answer: A
NEW QUESTION # 117
What should an administrator consider when configuring workflow rules? (2 answers)
- A. All existing records are evaluated when a new rule is activated
- B. Rules can be evaluated when records are created or edited
- C. Rule actions can take place immediately or on a specific date
- D. Rules must be deactivated before using an import wizard
Answer: B,C
NEW QUESTION # 118
What does the Salesforce Admin have to install to provide users access to referral dashboards and reports?
- A. Salesforce CRM Dashboards
- B. The unmanaged extension package for Intelligent Need-Based Referrals and Scoring
- C. The managed extension package for intelligent Need-Based Referrals and Scoring
- D. Einstein Analytics for Financial Services
Answer: B
Explanation:
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.
NEW QUESTION # 119
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 Referral for the Banker for an Education Savings Account
- B. Create two Life Events, one for the birth of the child and one for the Education Savings Account.
- C. Create a case and include the target Savings amount for the Education Savings Account and relate the case to the child's Person Account.
- D. Create a Life Event for the birth of the child and a Financial Goal for the Education Savings Account
- E. Create a Life Event for the birth of the child and a Referral for the Education Savings Account
Answer: D,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 # 120
Which statement about the products and price books is true? (2 answers)
- A. Price Books that contain assets cannot contain products.
- B. Products without a price are automatically added to the standard price book
- C. A standard and list price for product can be listed in multiple currencies
- D. A product can have a different list price in different price books
Answer: C,D
NEW QUESTION # 121
Permission set licenses incrementally entitle users to access features that are not included in their user licenses. Which three Permission Set Licenses give users access to Financial Services Cloud features?
- A. Action Plans
- B. FSC Insurance
- C. Lightning Scheduler Resource
- D. Mortgage
- E. Financial Services Cloud Standard
Answer: A,B,E
Explanation:
The following Permission Set Licenses give users access to Financial Services Cloud features:
Financial Services Cloud Standard: 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), Document Generation (DG), Groups (Householding), Intelligent Document Automation (IDA), Intelligent Need-Based Referrals and Scoring (INRS), Referral Management (RM), Relationship Builder (RB), Relationship Groups (RG), Relationship Map (RM), Timeline (TL)1.
Action Plans: This license enables user access to the Action Plans feature, which allows users to create templates for common client processes, such as loan approval, account opening, or financial review. Action Plans can create repeatable tasks and automate the task sequences when executed2.
FSC Insurance: This license enables user access to the Insurance feature, which allows users to manage insurance policies and claims for clients. This license also provides access to some Insurance objects such as Policy, Claim, Coverage Type, Policy Product, Policy Product Offering. Verified Reference: 12
NEW QUESTION # 122
Not all life events or business milestones apply to every customer. To create a better customer experience, you can hide the life events or business milestones a customer hasn't achieved or is unlikely to achieve in the future.
Which of the following statements are correct?
- A. Life Events can not be displayed on the Household level of the Account Record
- B. It is possible to hide Sensitive Life Event or Business Milestone Types in the Insurance Agent Portal.
- C. When you hide a life event or business milestone type, it doesn't appear on the component until you add an event or milestone of that type.
- D. The option to hide life event types or business milestone types is not available in the Communities version of the Life Events or Business Milestones component.
Answer: B,C
NEW QUESTION # 123
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Salesforce Financial Services Cloud (FSC) Accredited Professional Exam is designed to test an individual's knowledge and understanding of the Salesforce FSC platform. Financial-Services-Cloud exam is ideal for individuals who want to demonstrate their expertise in the platform and become certified Salesforce FSC professionals. Passing Financial-Services-Cloud exam is a significant achievement, and it is highly regarded by employers within the financial services industry.
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