Salesforce Financial-Services-Cloud Exam Questions and Answers PDF

Questions and Answers PDF 1/101 Thank You for your purchase om Salesforce Financial-Services-Cloud Exam Question & Answers.c...

Questions and Answers PDF 1/101 Thank You for your purchase om Salesforce Financial-Services-Cloud Exam Question & Answers.c Salesforce Financial Services Cloud (FSC) Accredited ps Professional (AP) Exam Exam m du am ex id al.v w w // w s: tp ht https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 2/101 Product Questions: 170 Version: 12.1 Question: 1 om What steps does the Salesforce Administrator have to take to create a new Business Milestone Type?.c A. In the Object Manager go to the Business Milestone object and create a new field using the name ps of the new milestone. B. Find Person Life Event using the Object Manager and add a new picklist value on the Milestone m Type Field. du C. Find Business Milestone using the Object Manager and add a new picklist value on the Milestone Type Field am D. In the Lightning Page Editor add the new Milestone Type to the Life Events & Business Milestones Lightning component ex Answer: C id Explanation: al To create a new Business Milestone Type, you need to add a new picklist value on the Milestone Type.v field of the Business Milestone object. This field is used to categorize the different types of business w milestones that can be tracked for a client. Verified Reference: : Salesforce Financial Services Cloud w Implementation Guide, page 57. w Question: 2 // s: Where should a Salesforce Administrator go to add custom icons to the Life Events and Business tp Milestones? ht A. Lightning Page Layout > Life Events and Business Milestones Lightning Component > Page Icon Properties B. Setup > Custom Code > Static Resources C. Setup > User Interface > icons > Life Events and Business Milestones D. Setup > Financial Services > Icons > Life Events and Business Milestones Answer: B Explanation: To add custom icons to the Life Events and Business Milestones, you need to upload them as static https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 3/101 resources in Setup > Custom Code > Static Resources. You also need to update the Icon Name field on the Life Event and Business Milestone objects to match the name of the static resource. Verified Reference: : Salesforce Financial Services Cloud Implementation Guide, page 58. Question: 3 What actions can a Wealth Advisor take from the Life Events card7 A. Create Case B. Create Lead & Referral C. Open an Account om D. Request Record Approval E. Create Opportunity.c Answer: BDE ps Explanation: m From the Life Events card, a Wealth Advisor can take the following actions: du Create Lead & Referral: This action creates a lead record for a new prospect or a referral record for an existing client based on the life event information. am Request Record Approval: This action initiates an approval process for the life event record to ensure compliance and quality standards. ex Create Opportunity: This action creates an opportunity record to track the potential revenue from the life event. Verified Reference: : Salesforce Financial Services Cloud User Guide, page 30. : id Salesforce Financial Services Cloud User Guide, page 31. : Salesforce Financial Services Cloud User Guide, page 32. al.v Question: 4 w w 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 w seasonal or for a limited timeframe. What construct in Financial Services Cloud is most appropriate // to represent such collaborative customer business operations? s: tp A. Contact-Contact Relationship B. Custom Relationship Group ht C. Account with Record Type = Business D. Standard Household Answer: B Explanation: A Custom 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 it to represent collaborative customer business operations that are not captured by standard household or account structures. Verified Reference: : Salesforce Financial Services Cloud Implementation Guide, page 67. https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 4/101 Question: 5 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. Account-Account Relationship B. Contact-Contact Relationship and the Reciprocal Rote C. Reciprocal Role D. Account-Contact Relationship and the Reciprocal Role Answer: B om Explanation:.c A Contact-Contact Relationship is a construct in Financial Services Cloud that allows you to model the relationship between two contacts, such as a business contact and a client that is modeled as a ps person account. The Reciprocal Role is a field on the Contact-Contact Relationship object that defines how each contact relates to the other. Verified Reference: : Salesforce Financial Services Cloud m Implementation Guide, page 64. Question: 6 du am Which three of these statements are true for Rollup By Lookup (RBL) in Financial Services Cloud? ex A. An RBL (Rollup By Lookup) rule displays summary calculations of financial account information, id such as account balances. al B. Person Accounts need to be enabled in order to use the Rollup by Lookup functionality. C. The Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the diem.v and group levels w D. Salesforce does not recommend or provide support for creation or customization of Financial w Services Cloud RBL rules E. RBL rules do not require a lot of processing power. // w Answer: A, C, D s: Explanation: tp ht The following statements are true for Rollup By Lookup (RBL) in Financial Services Cloud: An RBL (Rollup By Lookup) rule displays summary calculations of financial account information, such as account balances. You can use RBL rules to aggregate financial account data across different levels of client relationships. The Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the diem and group levels. You can use RBL configuration to define which fields are rolled up and how they are calculated for each diem and group type. Salesforce does not recommend or provide support for creation or customization of Financial Services Cloud RBL rules. RBL rules are complex and require extensive testing and validation. If you need to create or customize RBL rules, you should contact a certified Salesforce partner or consultant. Verified Reference: : Salesforce Financial Services Cloud Implementation Guide, page 75. : Salesforce Financial Services Cloud Implementation Guide, page 76. : Salesforce Financial Services https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 5/101 Cloud Implementation Guide, page 77. Question: 7 Which of the following objects do support Group-Level Rollups? A. Tasks B. Alerts C. Financial Accounts D. Action Plans E. Opportunities om Answer: CDE.c Explanation: ps The following objects do support Group-Level Rollups: Financial Accounts: You can use Group-Level Rollups to display the total balance, total market value, m and total cost basis of all the financial accounts that belong to a group. du Action Plans: You can use Group-Level Rollups to display the number of action plans, the number of completed action plans, and the completion percentage of all the action plans that are associated am with a group. Opportunities: You can use Group-Level Rollups to display the total amount, expected revenue, and ex weighted amount of all the opportunities that are related to a group. Verified Reference: : Salesforce Financial Services Cloud Implementation Guide, page 80. : Salesforce Financial Services Cloud id Implementation Guide, page 81. : Salesforce Financial Services Cloud Implementation Guide, page 82. al.v Question: 8 w w Which 3 options does the Financial Services Cloud application offer to view and update Account- Account. Account-Contact, and Contact-Contact Relationships? // w A. Actionable Relationship Center s: B. Family Members Component tp C. Relationship Map D. Group Members Component ht 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. https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 6/101 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 Reference: : Salesforce Financial Services Cloud User Guide, page 34. : Salesforce Financial Services Cloud User Guide, page 36. : Salesforce Financial Services Cloud User Guide, page 38. Question: 9 Which two statements are true about Group Membership in Financial Services Cloud? A. Group Membership defines the role of the member within the Group. B. With Group Membership settings you can define if a Group is the member's primary Group. om C. With Group Membership settings you can define who is the primary and who is the secondary member within the Group. D. Group Membership is modeled using the Account-Group Relationship object..c ps Answer: A, B Explanation: m du Group Membership is a construct in Financial Services Cloud that allows you to define the relationship between a group and its members. You can use Group Membership to specify the am following information: The role of the member within the group, such as Owner, Beneficiary, Trustee, etc. ex Whether the group is the primary group for the member, which affects how financial data is rolled up and displayed. Verified Reference: : Salesforce Financial Services Cloud User Guide, page 38. id Question: 10 al.v Lake Tahoe Bank has duplicate client records in their current CRM system because they come from a w different systems of record. Any changes made in Salesforce should be updated in the source system. w What can a Salesforce Administrator do to help bankers get a consolidated view of the individual in the Financial Services Cloud? // w A. Leverage Financial Services Cloud Relationship Groups to link duplicate client records and create a s: consolidated view. tp B. Implement deduplication rules in Salesforce and let the integration handle the updates to the source system. ht C. Create a custom Person Account hierarchy to link duplicate client records. D. Create custom components to provide a single view of the client. E. Link individuals using related contacts to link duplicate client records 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 https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 7/101 system using external IDs and integration tools. Verified Reference: : Salesforce Financial Services Cloud Implementation Guide, page 67. Question: 11 Lake Tahoe Bank's financial advisors are complaining that they can't see an accurate summary of their clients financial data as clients often change households. How can an Admin set up Financial Services Cloud to provide financial advisors with an accurate summary of their client's financial data? A. Create a roll-up field on the Opportunity object to track client's Financial Account balance and display the summary amount on the Person Account object. om B. Set clients financial data to be rolled up using Financial Services Cloud Primary Group. C. Create a custom obiect to track client's financial data D. Use Process Builder to create a workflow to summarize data at the Person Account level..c ps Answer: B Explanation: m du A Primary Group is a construct in Financial Services Cloud that allows you to define the main group for a client. You can use Primary Group to roll up financial data from all the financial accounts that am are related to the client or the group. This way, you can get an accurate summary of the client’s financial data regardless of how often they change households. Verified Reference: : Salesforce ex Financial Services Cloud Implementation Guide, page 69. id Question: 12 al Lake Tahoe Bank allows more than two owners on Financial Accounts. The Salesforce Admin wants to.v make sure that balances are rolled up to all joint owner's primary Households. Which 2 options does w the Salesforce Admin have to accomplish this? w A. Enable all RBL (Rollup By Lookup) rules to ensure the balances are rolled up to the household w level. // B. Enable the 'Enable Rollup Summary' in custom settings s: C. Create custom RBL (Rollup By Lookup) rules to rollup the joint owner balances. tp D. Disable RBL (Rollup By Lookup) rules that rollup balances using joint owner on Financial Account. E. Enable RBL (Rollup By Lookup) rules that rollup balances using Financial Account Role for joint ht owners. Answer: C, E Explanation: Rollup By Lookup (RBL) is a feature in Financial Services Cloud that allows you to display summary calculations of financial account information, such as balances, market values, and cost bases. You can use RBL to roll up financial data to all joint owners’ primary households by doing the following: Create custom RBL rules to rollup the joint owner balances using the Joint Owner field on the Financial Account object. Enable RBL rules that rollup balances using Financial Account Role for joint owners using the Account https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 8/101 Role field on the Account Contact Relationship object. Verified Reference: : Salesforce Financial Services Cloud Implementation Guide, page 75. Question: 13 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 Salesforce Support C. Enable Communities om D. Go to Custom Settings and edit the Industries Settings Answer: A.c Explanation: ps My Domain is a feature in Salesforce that allows you to create a subdomain for your org. You need to m enable My Domain to access Financial Services Cloud Lightning Components, such as Actionable du Relationship Center, Relationship Map, Life Events & Business Milestones, etc. To enable My Domain, you need to do the following: am 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 Reference: : ex Salesforce Help Article id Question: 14 al Lake Tahoe Bank has branch offices in many countries around the world and they are planning to roll.v out Financial Services Cloud. Which of the 2 considerations does the Salesforce Admin have to keep w in mind when it comes to dealing with multiple currencies? w A. For each user, the user currency must correspond to the default currency for the user's locale w B. The Salesforce Admin can enable or disable multiple currencies if needed // C. When filtering by currency values in reports or list views, users must specify a currency ISO code, s: such as USO or GBP. before the value. tp D. When multicurrency is enabled in FSC. advanced currency management is also available ht Answer: C, D Explanation: Multicurrency is a feature in Salesforce that allows you to work with multiple currencies in your org. If you enable multicurrency in FSC, you need to consider the following: When filtering by currency values in reports or list views, users must specify a currency ISO code, such as USD or GBP, before the value. For example, USD500 or GBP300. When multicurrency is enabled in FSC, advanced currency management is also available. This feature allows you to track historical exchange rates and apply them to opportunities and forecasts. Question: 15 https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 9/101 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 record type can be used when a client is an agent for a broker firm that is doing business with the Financial Institution. D. The Person Account is a virtual object displaying data from Accounts and Contacts objects. It om represents all aspects of the person and includes D data such date of birth or tax ID number. E. The Person Account model uses the standard Account object to hold all of the details about a.c person The Account object has been extended " with custom fields and a Person Account Record ps Type m Answer: D, E du Explanation: am 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 ex use Person Accounts to store information about individual people by combining certain Account and id Contact fields into a single record. The Person Account model uses the standard Account object to hold all of the details about a person. al The Account object has been extended with custom fields and a Person Account Record Type. You.v can use Person Accounts to simplify your data model and reduce the number of records you need to manage. w w Question: 16 // w The Salesforce Admin at Lake Tahoe Bank considering implementing Financial Services Cloud. What s: is the best way for the Admin to access a Financial Services pre-configured org, including data and the right licenses, to learn about the product? tp ht 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 the product 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 get preconfigured and preloaded https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 10/101 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 your account executive or solution engineer. Verified Reference: : Trailhead Module 5 Question: 17 Lake Tahoe Bank, an existing Salesforce customer, is planning to implement Financial Services Cloud. Their Salesforce Admin is considering whether to use a new Salesforce org or upgrade the existing org. Which three of the considerations below indicate that a new Salesforce org is the better choice9 A. The bank wants to use this project as an opportunity to retire customization om B. The current implementation is using a product-centric view and the bank wants to move to a customer-centric view. C. Data migration is a big concern The current org has a large amount of data and the Bank wants to.c minimize data migration efforts. ps D. The bank has limited redesign opportunities for business capabilities. E. Existing business capabilities and processes can be redesigned to deliver a higher business impact m du Answer: ABE Explanation: am The following considerations indicate that a new Salesforce org is the better choice for implementing ex Financial Services Cloud: The bank wants to use this project as an opportunity to retire customization. A new org will allow the id bank to start fresh and avoid carrying over unnecessary or outdated customization that may conflict with Financial Services Cloud features or best practices. al The current implementation is using a product-centric view and the bank wants to move to a.v customer-centric view. A new org will allow the bank to adopt the Financial Services Cloud data w model, which is designed to provide a holistic view of the customer and their relationships, goals, financial accounts, activities, and interactions. w Existing business capabilities and processes can be redesigned to deliver a higher business impact. A w 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 s: processes and enhance their customer experience. Verified Reference: : Salesforce Help Article 6 tp Question: 18 ht 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. Ensure Person Accounts is enabled on the org B. Configure your Person Account record types m the Indrvidual Record Type Mapper. C. Enable 'Individual to Person Account Migration' in Custom Settings. D. Use a CSV field to map PersonRecordTypeld to the Person Account RecoroTypeld and use Data Loader to update Client Records E. Log a case with Salesforce to perform the conversion from the indrvkJual Model to Person Accounts. https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 11/101 Answer: A, B, D Explanation: The following steps are required to migrate customer records from the Individual Model to Person Accounts in Financial Services Cloud: Ensure Person Accounts is enabled on the org. You need to have Person Accounts enabled before you can convert Individual Model records to Person Accounts. You can enable Person Accounts by contacting Salesforce Support or by using the Enable Person Accounts option in Setup > Account Settings. Configure your Person Account record types in the Individual Record Type Mapper. You need to map om your existing Individual Model record types to the corresponding Person Account record types. You can do this by using the Individual Record Type Mapper option in Setup > Financial Services Settings. Use a CSV file to map PersonRecordTypeId to the Person Account RecordTypeId and use Data Loader.c to update Client Records. You need to update the Client records with the correct PersonRecordTypeId ps value that matches the Person Account RecordTypeId value. You can do this by using a CSV file and Data Loader to perform a bulk update operation. Verified Reference: : Salesforce Help Article 1 : m Salesforce Help Article 2 : Salesforce Help Article 3 Question: 19 du am Which two limitations should a Salesforce Administrator consider before enabling Person Accounts? ex A. Person Accounts can be enabled and disabled only by contacting Salesforce Support id B. Person Accounts cannot be disabled once they were enabled C. Creating a client record via Salesforce Inbox is not supported. al D. AppExchange packages will not work if Person Accounts are enabled.v w Answer: B, C w Explanation: w The following limitations should be considered before enabling Person Accounts in Financial Services // Cloud: s: Person Accounts cannot be disabled once they were enabled. Enabling Person Accounts is an tp 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 ht 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 to create a client record as a Person Account. You can only create a client record as an Individual Model record using Salesforce Inbox. Verified Reference: : Salesforce Help Article 4 : Salesforce Help Article 5 Question: 20 The Salesforce Admin wants to make it easier for call center agents to complete some common tasks by setting up flows and launch them from the Retail Banking Console. What does the Admin have to https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 12/101 keep in mind when setting up Flows? A. Flows can be used to provide step-by-step guidance for address changes, without the need for then agent to navigate to different screens. B. To open. edit, or create a Flow in Flow Builder, the user needs the Run Flows permission. C. To use Financial Services Cloud Flows, you'll need the Financial Services Managed Package installed m the org and the Financial Services Cloud a permission set assigned to the user. D. To use a Flow, a user must have access to the underlying object and its field Answer: C Explanation: om Question: 21.c What benefits do Flows for Financial Services Cloud offer to support customer onboarding? (Choose ps Two) m A. Flows enable customers to schedule appointments via customer communities, mobile apps. or du websites. B. Flows provide step-by-step guidance for common service requests, such as change of address, or am change of beneficiary, without the need to * navigate to different screens. C. Flows systematically capture and visualize important customer Life Events to drive more ex personalized and need-based engagements. D. Flows enable customers to book appointments with the nght specialist at the right time and place id through self-service scheduling E. Flows enable customers to schedule appointments via customer communities, motxie apps. or al websites..v w Answer: BE w Explanation: w Flows provide step-by-step guidance for common service requests, such as change of address, or // change of beneficiary, without the need to navigate to different screens. Flows can simplify and s: streamline the customer onboarding process by automating tasks and collecting information in an tp easy and intuitive way. You can use Flows to create service requests that capture the customer’s details and update the related records in one place. ht Flows enable customers to schedule appointments via customer communities, mobile apps. or websites. Flows can integrate with Experience Cloud sites, mobile apps, or websites to provide self- service options for customers. You can use Flows to create appointment scheduling forms that allow customers to book appointments with the right specialist at the right time and place. Verified Reference: : Salesforce Help Article 3 : Salesforce Help Article 4 Question: 22 How can the Salesforce Admin change the configuration to summarize Financial Goals at the household level? https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 13/101 A. Add a custom Rollup By Lookup (RBL) rule. B. Financial Goals can 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 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 om 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..c ps Question: 23 m A client has called their Financial Advisor to open an Education Savings Account for their first child. du What 2 steps should the Financial Advisor take in the Financial Services Cloud App to capture that information? am A. Create a Life Event for the birth of the child and a Referral for the Education Savings Account ex B. Create a case and include the target Savings amount for the Education Savings Account and relate the case to the child's Person Account. id C. Create a Referral for the Banker for an Education Savings Account D. Create a Life Event for the birth of the child and a Financial Goal for the Education Savings Account al E. Create two Life Events, one for the birth of the child and one for the Education Savings Account..v w Answer: AD w Explanation: w 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: s: Create a Life Event for the birth of the child and a Referral for the Education Savings Account. A Life tp 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 ht 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 Reference: : Salesforce Financial Services Cloud User Guide, page 29. : Salesforce Financial Services Cloud User Guide, page 30. : Salesforce Financial Services Cloud User Guide, page 33. https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 14/101 Question: 24 Which three referral metrics are tracked with custom components included in Financial Services Cloud? A. Web to Lead Referrals B. Expressed interests C. My Top Referrers D. My Approved Referrals E. Referrals Assigned to me om Answer: B, C, E.c Explanation: ps The following referral metrics are tracked with custom components included in Financial Services Cloud: m Expressed interests: This metric shows the number of referrals that have a specific expressed du interest, such as a mortgage, a credit card, or a checking account. You can use this metric to understand the customer needs and interests that generate the most referrals. am 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 and appreciate ex your best sources of business. Referrals Assigned to me: This metric shows the number of referrals that are assigned to you and id their status, such as New, In Progress, or Closed. You can use this metric to monitor and manage your referral pipeline and prioritize your follow-up actions. Verified Reference: : Salesforce Financial al Services Cloud User Guide, page 40. : Salesforce Financial Services Cloud User Guide, page 41. :.v Salesforce Financial Services Cloud User Guide, page 42. w Question: 25 w w What does the Salesforce Admin have to install to provide users access to referral dashboards and // reports? s: tp A. The managed extension package for intelligent Need-Based Referrals and Scoring B. Einstein Analytics for Financial Services ht 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: 26 https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 15/101 What feature does a Salesforce Administrator need to enable so users can see all the referrals for the members of a group? A. Referral Scoring B. Referrals Rollups C. Group Member Referrals D. Referral Group Process Builder Answer: B Explanation: om 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..c Question: 27 ps What capability included in the Financial Services Cloud license can assist bankers in focusing on the m most promising referrals? A. Referral Approval Processes du am B. Intelligent Need-Based Referrals and Scoring C. Einstein Referral Scoring for Financial Services Cloud ex D. Referral Routing Rules id Answer: B al Explanation:.v Intelligent Need-Based Referrals and Scoring is a capability that helps bankers prioritize the most w promising referrals by assigning a score based on the client’s needs, preferences, and interactions. It w also helps bankers route referrals to the best suited specialists or advisors. w Question: 28 // s: Lake Tahoe Bank branch manager is asking the Salesforce Administrator for improvements in tp Salesforce to speed up Loan Approval Processing. The Salesforce Admin is considering using Action ht Plans. Which 3 process improvements can be delivered using Action Plans? A. Action Plans create repeatable tasks and automate the task sequences when executed B. When you create an action plan from a template for a specific target record, items that have no assigned user are assigned to the owner of that " target record. C. Action Plans can automatically schedule the next appointment with the Advisor. D. Action Plans enhance collaboration and productivity by automatically assigning task owners and deadlines for specific client processes. E. Action Plans can speed up the collection of a list of documents needed for the loan application Answer: A, B, D Explanation: https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 16/101 Action Plans are a feature that 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 executed. When an action plan is created from a template for a specific target record, such as an account or an opportunity, items that have no assigned user are assigned to the owner of that target record. Action Plans can also enhance collaboration and productivity by automatically assigning task owners and deadlines for specific client processes. Question: 29 Lake Tahoe Bank needs to conduct periodic reviews with their customers to review credit & debit om card usage, review account payables and discuss credit needs. The bank wants to ensure such activities are tracked and exceptions are reported & followed up on in a timely manner. How can Financial Services Cloud support these requirements?.c ps A. Run a nightly process to create tasks and assign them to account owners for follow-ups B. Train account owners to create required tasks periodically and set due dates for tracking. m C. Use Lightning Scheduler to periodically schedule tasks for account owners. du D. Create an Action Plan Template with associated pre-determined Tasks and automate the periodical creation of Action Plans for customer accounts. am Answer: D ex Explanation: id As explained in the previous question, Action Plans are a feature that can help users track and manage common client processes. By creating an Action Plan Template with associated pre- al determined Tasks, such as reviewing credit & debit card usage, reviewing account payables, and.v discussing credit needs, users can ensure that these activities are tracked and followed up on in a w timely manner. Users can also automate the periodical creation of Action Plans for customer accounts using Process Builder or Apex triggers. w w Question: 30 // s: A commercial loan due diligence process is handled by multiple individuals at Lake Tahoe Bank. Lake tp Tahoe Bank wants an easy way for managers to distribute the work, to understand the % completion of the due diligence process per client and report on the performance of the department to show ht possible bottlenecks. What FSC feature can Lake Tahoe Bank use to track this process? A. Workflow Rules/Process Builder B. Action Plans C. Apex Tnggers on the task object D. Flows Answer: B Explanation: Again, Action Plans are a feature that can help users track and manage common client processes. For https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 17/101 a commercial loan due diligence process, users can create an Action Plan Template with tasks such as verifying income, checking credit history, appraising collateral, etc. Users can also assign different task owners and deadlines for each task to distribute the work and monitor the progress. Users can also use dashboards and reports to view the % completion of the due diligence process per client and report on the performance of the department to show possible bottlenecks. Question: 31 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? om A. Use the 'task creator' tool to create a new task and associate with the existing Action Plan B. Contact her Salesforce Administrator and get her to make the change to the Action Plan for her..c C. Use the Action Plan item feature to add an additional task to a published Action Plan. ps D. Create an independent Task not related to original Action Plan m Answer: C du Explanation: am 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 ex 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 id preferences. Verified Reference: : Salesforce Help Article 1 al Question: 32.v w Which three things must an admin keep in mind when creating Action Plan Templates'5 w A. When creating Action Plan Templates with the Ul. you can designate a plan owner different from w the plan creator. // B. When you create an Action Plan from a template for a specific target record, the plan creator can s: choose whether the date calculation is based on calendar or working days. tp C. An Action Plan is a run-time instance of the template that allows you to automate the sequence of the tasks you defined in the template. ht D. When you create an Action Plan from a template for a specific target record, item deadlines are calculated using the start date and date offset " defined in the Action Plan Template E. The Action Plan Template permission set must be added to all users that want to use Action Plans. Answer: B, C, D Explanation: The following things must be kept in mind when creating Action Plan Templates: When creating Action Plan Templates with the UI, you can designate a plan owner different from the plan creator. The plan owner is the user who is responsible for executing the tasks in the Action Plan. The plan creator is the user who creates the Action Plan Template or the Action Plan from the https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 18/101 template. You can assign a different plan owner for each Action Plan Template or Action Plan. An Action Plan is a run-time instance of the template that allows you to automate the sequence of the tasks you defined in the template. An Action Plan Template is a reusable blueprint that defines the tasks, owners, and deadlines for a common business process or service request. An Action Plan is a specific implementation of the template that applies to a particular target record, such as an account, contact, or opportunity. When you create an Action Plan from a template for a specific target record, item deadlines are calculated using the start date and date offset defined in the Action Plan Template. The start date is the date when you create the Action Plan from the template. The date offset is the number of days before or after the start date when each task is due. You can specify different date offsets for each task in the template. Verified Reference: : Salesforce Help Article 2 : Salesforce Help Article 3 : Salesforce Help Article 4 om Question: 33.c ps A System Administrator has received a note from one of the portfolio managers that the Actionable Relationship Center (ARC) is not visible when the portfolio manager was trying to set up relationships m between two accounts. The portfolio manager has also mentioned that other colleagues in the same du role have access to it and are able to use it to manage their customer's relationships. What is a possible cause for this? am A. The portfolio manager has not been given the permissions that enable users to view and manage ARC ex B. The portfolio manager does not have access to the Lightning page that has the ARC component id added C. The portfolio manager does not have access to the account records that he is trying to create for. al D. The ARC Component has not been added to the page layout.v Answer: A w Explanation: w w A possible cause for why the portfolio manager cannot see ARC when trying to set up relationships // between two accounts is that he has not been given the permissions that enable users to view and s: manage ARC. To access ARC, users need to have certain permissions and settings enabled in their user profile or permission set, such as: tp View Setup and Configuration ht Customize Application Manage Custom Permissions Financial Services Cloud Standard User Financial Services Cloud Admin If any of these permissions or settings are missing, users may not be able to see or use ARC properly. Verified Reference: : Salesforce Help Article 5 Question: 34 Which three types of Account-Account relationships are displayed in the Actionable Relationship Center? https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 19/101 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 om account, such as owners, partners, or beneficiaries. You can use this type of relationship to understand the ownership structure and financial interests of a business account. Accounts & Peers: This type of relationship shows the accounts that are related to another account.c by a peer-to-peer relationship, such as friends, colleagues, or associates. You can use this type of ps relationship 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, m such as household members, trust members, or business group members. You can use this type of du relationship to view the aggregated financial data and activities of a group account. Verified Reference: : Salesforce Help Article 2 : Salesforce Help Article 3 : Salesforce Help Article 4 am Question: 35 ex Scott Adams is opening a joint savings account with his mom, Rachel Adams. Rachel Adams is the id 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? al.v A. Make the Adams Household Scott's primary Group and edit tie Activities & Objects to ft* Up. w B. Add Scon as a Related Contact to the Adams Household. C. Make the Adams Household Scotts pnmary Group and make Scott the pnmary member w D. Disable the Primary Group setting fof Scon on the Adams Household // w Answer: A s: Explanation: tp To make sure that Scott’s data is rolling up to the Adams Household, the Banker should make the ht Adams Household Scott’s primary Group and edit the Activities & Objects to Roll Up. A primary Group is a construct in Financial Services Cloud that allows you to define the main group for a client. You can use primary Group to roll up financial data from all the financial accounts that are related to the client or the group. By making the Adams Household Scott’s primary Group, the Banker can ensure that Scott’s financial data is included in the household summary. The Banker can also edit the Activities & Objects to Roll Up to specify which items, such as financial accounts, goals, or referrals, should be rolled up for Scott. Verified Reference: : Salesforce Help Article 4 Question: 36 Lake Tahoe Bank would like to capture their commercial customers in FSC. A commercial customer https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 20/101 can be owned by multiple groups. How can Lake Tahoe Bank SF Admin configure FSC to capture and display commercial customer and its parent company ? (3 correct answers) A. Add the Business record type to the Group record type mapper B. Capture the majority owner as parent account using Account hierarchy C. Leverage Groups to capture the majority owner and Account hierarchy to capture minority owner D. Enable Relationship Group Hierarchy in Custom Metadata E. Link multiple owners to the business entity as a Group Answer: ACE Explanation: om To capture and display commercial customers and their parent companies, Lake Tahoe Bank SF Admin can use the following steps:.c Add the Business record type to the Group record type mapper, which is a custom metadata type that ps defines which record types can be added as members of a group1. Leverage Groups to capture the majority owner of a commercial customer, which is a business entity m that has a stake in another business entity1. Groups are a feature that allows users to create and du manage household and business relationships1. Use Account hierarchy to capture minority owners of a commercial customer, which are business am entities that have less than 50% stake in another business entity2. Account hierarchy is a feature that allows users to see how accounts are related to each other in a parent-child relationship2. Link multiple owners to the business entity as a Group, which allows users to see all the stakeholders ex of a commercial customer in one place1 id Question: 37 al.v For which three objects are Rollup By Lookup (RBL) summaries are available? w A. Life Events w B. Financial Accounts w C. Assets and Liabilities // D. Contacts s: E. Claims tp Answer: B, C, D ht Explanation: Rollup By Lookup (RBL) summaries are available for the following objects: Financial Accounts, which are records that represent financial products or services that a client owns or uses1. Assets and Liabilities, which are records that represent the value of what a client owns or owes1. Contacts, which are records that represent individuals who are associated with an account3. Question: 38 The Salesforce Admin of Lake Tahoe Wealth Management Company needs to update an https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 21/101 existing, published Action Plan Template to accommodate a change in the firm’s annual client review process. What steps should the Admin take to make that change? A. Edit the published Action Plan Template directly. B. Set the Action Plan Template to “Inactive” and then make changes to the template, as necessary. C. Clone the existing Action Plan Template and make any necessary changes on the new Action Plan Template. Answer: C Explanation: om To update an existing, published Action Plan Template, the Admin should clone the existing Action Plan Template and make any necessary changes on the new Action Plan Template. This is because published Action Plan Templates cannot be edited directly or set to inactive4. Cloning an Action Plan.c Template creates a copy of it with a new name and ID, which can then be modified and published4. ps Verified Reference: 4 m Question: 39 du A Salesforce Admin is configuring a new Action Plan Template. One task in that template needs to be am picked up by the next available Advisor. What assignment logic should the Admin use when configuring this template task? ex A. Action Plan Creator id B. Specific User C. Account Team al D. Role.v E. Queues w Answer: E w Explanation: // w To assign a task to the next available Advisor, the Admin should use Queues as the assignment logic s: when configuring the template task. Queues are collections of records that can be assigned to tp multiple users who share workloads and responsibilities. By using Queues, the Admin can ensure that any Advisor who is part of the Queue can pick up the task when they are available. ht Question: 40 Our Personal Banker Hank Burton is learning to use Action Plans to ensure compliance in the client onboarding 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 page layout. B. Hank will be able to see the Action Plan Tasks assigned to him on the standard Salesforce 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. https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 22/101 Answer: AB Explanation: Hank can see Action Plan Tasks in two places: On the 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: 41 om 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.c asking the bank's System Administrator to automate Referral creation in Salesforce. How can the Admin speed up and simplify Referral creation? ps A. Write a trigger to create Referrals from a 'Create Referral* button. m B. Use the Case process and create Cases with Case Type 'Referrar'. du C. Use Global Action To create Referrals. D. Use am Answer: C ex Explanation: id To speed up and simplify Referral creation in Salesforce, the Admin can use Global Action to create al 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.v Salesforce, such as Chatter, Home, or Account pages. The Admin can also customize the layout and w fields of the Global Action to capture only relevant information for Referrals w Question: 42 // w Lake Tahoe Bank's System Administrator is implementing intelligent Need-Based Referrals in s: Salesforce. Referrals are modeled on the Lead object. Which three Lead features can the System tp Admin use for Intelligent Need-Based Referrals? ht A. Lead Routing B. Web to-Lead C. Lead Assignment Rules D. Lead Approval E. Einstein Lead Scoring Answer: A, C, E Explanation: The System Admin can use the following Lead features for Intelligent Need-Based Referrals: Lead Routing, which is a feature that allows users to distribute leads to the right users or queues https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 23/101 based on criteria such as lead source, industry, or product interest. Lead Assignment Rules, which are rules that specify how to assign leads to users or queues when they are created manually, captured from the web, or imported via Data Import Wizard. Einstein Lead Scoring, which is a feature that uses artificial intelligence to analyze historical data and predict how likely a lead is to convert. Einstein Lead Scoring assigns a score and an insight to each lead, which can help users prioritize and follow up on the most promising leads. Question: 43 Users at Lake Bank have been creating multiple events for once in a lifetime event such as birth. What should an Administrator do to prevent users from accidentally creating more than one event of om such an event type? A. Create an Apex trigger that will prevent the saving of multiple one-time events.c B. Select the Unique checkbox on the picklist value for the Event Type field on the Person Life Event ps object C. Remove user’s ability to create one-time events m D. Create a validation rule that will stop the user if they attempt to add multiple one-time events. du Answer: D am Explanation: ex To prevent users from accidentally creating more than one event of such an event type, the Admin should create a validation rule that will stop the user if they attempt to add multiple one-time id events. A validation rule is a rule that verifies that the data a user enters in a record meets the standards you specify before the user can save the record. By creating a validation rule, the Admin al can ensure that only one event of a certain type can be created for each contact..v w Question: 44 w Lake Tahoe Bank would like to reslricl their Financial Services Cloud users from viewing certain types w of milestones that might be irrelevant to their customers or might cause negative sentiment. How // can the Salesforce Admin implement such a requirement? s: tp 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 it from the ht Event Type picklist. C. The Salesforce Admin can hide sensitive Life Events on Ihe Life Events component on the Lightning Page using the Properties pane. D. The Salesforce 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 Lightning component that displays a timeline of life events and business milestones for a client or a group. The Admin can use the https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 24/101 Properties pane to customize the component and select which event types to show or hide on the timeline. Question: 45 How can the Salesforce Admin help agents who deal with a large number of customers on a daily basis, quickly scan the Life Events component and find the information they need without much effort? A. The Admin can customize the order of life events to be set in chronological order. B. The user can change the color of important life events to red. om C. The Admin can change the color of important life events to red. D. The user can customize the order of life events to be set in chronological order.c Answer: C ps Explanation: m The Admin can change the color of important life events to red by using custom CSS in a Lightning du App Builder theme layout component. This way, the agents can quickly scan the Life Events component and find the information they need without much effort. The color red can draw am attention and indicate urgency or importance for certain life events. ex Question: 46 id The Salesforce Admin of Lake Tahoe Bank wants to implement Financial Services Cloud using the al individual object model. What are the steps to disable person accounts? (Choose Three).v A. Log a case with Salesforce to perform the conversion from Person Accounts to the individual w model. w B. Assign the Person Account record type to the user profiles. C. Disable the Person Account custom setting. w D. Remove Person Account record types from the Individual Record Type Mapper. // E. Assign the Individual record type to the user profiles. s: tp Answer: A, D, E ht 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 Type Mapper. 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 https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 25/101 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 Reference: : Salesforce Help Article 5 : Salesforce Help Article 6 : Salesforce Help Article 7 Question: 47 om Lake Tahoe Bank is implementing Financial Services Cloud. The bank's new business processes require that Financial Advisors can add individuals to more than one Group or Household using Multiple Relationship Groups. Where do Admins enable Multiple Relationship Groups?.c ps A. Object Settings B. Custom Settings m C. Lightning Page Editor du D. Profiles am Answer: B Explanation: ex To enable Multiple Relationship Groups, which is a feature that allows users to add individuals to id more than one group 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 al create and associate custom data for an organization, profile, or specific user. The Admin can use.v Custom Settings to enable Multiple Relationship Groups by following these steps: w From Setup, enter Custom Settings in the Quick Find box, then select Custom Settings. Click Manage next to Group Member Record Type Mapper. w Click Edit next to Default Organization Level Value. w In Multiple Relationship Groups Enabled, select True. // Click Save. s: tp Question: 48 ht The Salesforce Administrator at Lake Tahoe Bank is asked at make modifications to the Salesforce org to allow for more than one people being joint owners on a Financial Account. What will be the recommended approach to model this requirement? A. Map the primary owner and one joint owner to the Financial Account, because FSC, supports only two joint account owners. B. Map additional owners using the Financial Account Role. C. Map additional owners using the Actionable Relationship Center. D. Create lookup fields on the Financial Account object to support additional owners Answer: B https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 26/101 Explanation: To model a requirement where more than one person can be joint owners on a Financial Account, the Admin can map additional owners using the Financial Account Role. The Financial Account Role is a junction object that links a contact or an individual to a financial account and defines their role or relationship with that account. By using Financial Account Role, the Admin can add multiple owners to a Financial Account and specify their ownership percentage, primary status, and other details. Question: 49 Lake Tahoe Bank is rolling out Financial Services Cloud and the VP of IT is concerned about the cost of om 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.c can be used to grant restricted access to users like Bank Tellers? ps A. Financial Services Cloud Standard m B. Client Segmentation du C. Financial Service Cloud Basic D. Financial Service Cloud Extension am Answer: C ex Explanation: id 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 al enables user access to a license with contractual restrictions for Financial Services Cloud and.v provides access to core objects such as accounts, contacts, leads, opportunities, cases, activities, w 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, w Complaint Management, Data Consumption Framework (DCF), Discovery Framework (DF), w Document Generation (DG), Groups (Householding), Intelligent Document Automation (IDA), // Intelligent Need-Based Referrals and Scoring (INRS), Referral Management (RM), Relationship s: Builder (RB), Relationship Groups (RG), Relationship Map (RM), Timeline (TL). tp Question: 50 ht Lake Tahoe Bank is evaluating Financial Services Cloud to help them deliver a customer-centric view. They currently have a heavily customized Salesforce implementation with a product-centric design. Lake Tahoe Bank wants to make sure planned changes have a minimal impact on users during implementation. What is the recommended approach for implementing Financial Services Cloud at Lake Tahoe Bank? A. Implement Financial Service Cloud in a new org (Green Field) and redesign business capabilities in Ihe new org. B. Implement Financial Service Cloud in a Trial org and convert the Trial org to production org. C. Implement Financial Service Cloud in the existing org (Brow Field). https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 27/101 D. Implement Financial Service Cloud in the existing org's Sandbox and then deploy to production org to mitigate the end-user impact Answer: A Explanation: The recommended approach for implementing Financial Services Cloud at Lake Tahoe Bank is to implement Financial Service Cloud in a new org (Green Field) and redesign business capabilities in the new org. This approach allows Lake Tahoe Bank to leverage the best practices and features of Financial Services Cloud without being constrained by their existing customizations and data model. It also minimizes the impact on users during implementation, as they can continue to use their om current system until the new org is ready to go live. A green field implementation requires careful planning, data migration, and change management, but it can result in a more efficient and customer-centric solution. Verified Reference: : Salesforce Financial Services Cloud Implementation.c Guide, page 8. ps Question: 51 m du Lake Tahoe Bank wants to onboard a client digitally and without asking the client for information that the bank already has on file. The process has multiple steps and can have branching (conditional) am logic that asks for different information depending on the responses. Which Salesforce feature should be used for this digital onboarding process? ex A. Aclion Plans id B. Financial Goals C. Actionable Relationship Center al D. Flows.v w Answer: D w Explanation: w The Salesforce feature that should be used for the digital onboarding process is Flows. Flows are a // tool that can automate business processes and guide users or customers through screens that collect s: and display information. Flows can have multiple steps and branching logic that ask for different tp information depending on the responses. Flows can also integrate with existing data and prefill fields with information that the bank already has on file, reducing the need to ask the customer for ht redundant information. Flows can be embedded in Lightning pages, Experience Cloud sites, mobile apps, or websites to provide a seamless and engaging digital onboarding experience. Verified Reference: : Salesforce Help Article 1 : Salesforce Help Article 2 Question: 52 Which three of the following statements are correct about the Actionable Relationship Center Manager (ARC)? A. To enable users to see the ARC, you will need to add the component for ARC to the page layout. B. ARC displays up to 5 related lists that have a configured compact layout. https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 28/101 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 in the 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, om 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.c representation of the account-account relationships for a selected record, as well as related lists of ps 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 m compact layout configured to show relevant fields. du 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 am 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 ex Reference: : Salesforce Help Article 3 : Salesforce Help Article 4 : Salesforce Help Article 5 id Question: 53 al.v Personal Banker Hank Burton is questioning his Referral Score shown in Salesforce Financial Services w Cloud. When is the Referral Score updated? w A. The Referral Score updated when a referral is convened to an Opportunity or closed. w 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. s: D. The Referral Score updated when an opportunity associated with the Referral is Closed Won tp Answer: D ht 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 calculated as the number of referrals converted to opportunities divided 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 Reference: : Salesforce Help Article 2 : Salesforce Help Article 4 Question: 54 https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 29/101 Which 3 out of the box capabilities come with Financial Services Cloud Lead & Referral Management? A. Referral Conversion B. Assigning a Referral C. Round Robin Referral Routing D. Accepting a Referral E. Referral Automated Approvals Answer: A, B, D om Explanation: The following out of the box capabilities come with Financial Services Cloud Lead & Referral.c Management: ps 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 m its impact on your business. du 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 am best meet the customer’s need or interest. Accepting a Referral: 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 ex work on it. Verified Reference: : Salesforce Help Article 1 : Salesforce Help Article 3 : Salesforce Help id Article 5 al Question: 55.v w If a client is associated with more than one Household or Group, where will this clients records get rolled up to? w w A. to the household with the client's primary address // B. to all the parent households and groups s: C. to the household selected by the advisor for record rollups. D. to the Household where the client is the primary member tp ht Answer: C Explanation: If a client is associated with more than one Household or Group, their records will get rolled up to the household selected by the advisor for record rollups. A Household or Group is a construct in Financial Services Cloud that allows you to group related accounts together and view their aggregated financial data and activities. A client can belong to multiple Households or Groups, but only one of them can be selected as their primary Group for record rollups. The primary Group determines which Household or Group will display the client’s records in its summary components or related lists. The advisor can select or change the primary Group for a client using the Primary Group field on the client’s record page. Verified Reference: : Salesforce Help Article 6 https://www.validexamdumps.com/Financial-Services-Cloud.html Questions and Answers PDF 30/101 Question: