Salesforce-Financial-Services-Cloud.pdf

Salesforce Financial-Services-Cloud Salesforce Financial Services Cloud (FSC) Accredited Professional...

Salesforce Financial-Services-Cloud Salesforce Financial Services Cloud (FSC) Accredited Professional (AP) Exam(WI24) Version: 11.1 Web: www.exams4sure.com [ Total Questions: 168] Email: [email protected] IMPORTANT NOTICE Feedback We have developed quality product and state-of-art service to ensure our customers interest. If you have any suggestions, please feel free to contact us at [email protected] Support If you have any questions about our product, please provide the following items: exam code screenshot of the question login id/email please contact us at [email protected] and our technical experts will provide support within 24 hours. Copyright The product of each order has its own encryption code, so you should use it independently. Any unauthorized changes will inflict legal punishment. We reserve the right of final explanation for this statement. Practice Exam Salesforce - Financial-Services-Cloud Question #:1 Lake Tahoe Bank is rolling out FinancialServices Cloud and the VP of IT is concerned about the cost of the licenses. The System Admin recommends using restricted licenses for users that need only limited access to Financial Service Cloud features. Which Financial Services Cloud permission set license enables user access to a license with contractual restrictions for Financial Services Cloud and can be used to grant restricted access to users like Bank Tellers? A. Financial Services Cloud Standard B. Client Segmentation C. Financial Service CloudBasic D. Financial Service Cloud Extension Answer: C Explanation 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 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). Question #:2 Rachel is the primary member of the Adams household hired a new attorney. What type of relationship should the Wealth Advisor create in Financial Services Cloud for Rachel and her attorney before assigning the reciprocal role of "Attorney"? A. Create an Account-Contact relationship betweenthe Adams Household and the attorney. B. Create an Account-Account relationship between the Adams Household and the attorney C. Create a Contact-Contact Relationships between the primary member of the Adams Household and the attorney. D. Create an Account-Account Relationship between the Addams Family Trust and the attorney. Answer: C Explanation Leaders in it certification 1 of 106 Practice Exam Salesforce - Financial-Services-Cloud To create a relationship between Rachel and her attorney before assigning the reciprocal role of “Attorney”, the Wealth Advisor should create a Contact-Contact Relationshipbetween the primary member of the Adams Household and the attorney. A Contact-Contact Relationship is a junction object that links twocontacts or individuals and defines their relationship with each other2. By using Contact-Contact Relationship, the Wealth Advisor can capture Rachel’s extended network of relationships with people outside of her household.Verified References: 2 Question #:3 Which Salesforce Financial Services Cloud featureenables financial advisors to track and manage client accounts? A. Financial accounts management B. Performance reporting C. Client onboarding D. Opportunity management Answer: A Explanation Financial accounts management is a Salesforce FinancialServices Cloud feature that enables financial advisors to track and manage client accounts. A financial account is any account managed by a financial institution, such as a bank, an insurance company, or an investment firm. Financial Services Cloud supports many kinds of financial accounts, such as checking accounts, savings accounts, mortgages, credit cards, investment accounts, insurance policies, and more3. Financial advisors can use Financial Services Cloud to view, create, update, and delete financial accounts for their clients, as well as link them to other objects, such as households, goals, referrals, or opportunities4. References: Financial Accounts Manage FinancialAccounts Question #:4 The investor relations director of a large insurance company just published a press release after the company's Quarterly Earnings Call to report about its digital transformation implementing Salesforce Financial Services Cloud (FSC). Which three value outcomes should the company's stakeholders expect? A. Achieved higher CSAT & NPS scores attributed to personalized customer experiences driven by shorter waits due to decreased average case handle times and improved self-service solutions via Einstein Bots for FSC Leaders in it certification 2 of 106 Practice Exam Salesforce - Financial-Services-Cloud B. Streamlined the entire deal lifecycle with FSC. leveraging relationship maps and interaction history in business development/discovery D to accelerate pipe management and research C. Improved customer onboarding experiences by fast-tracking and simplifying document tracking and approvals via FSC Action Plans D. Drove Advisor productivity with a daily task list, clientlife events, opportunities, and aggregated household information directly from D the FSC HomeT\e E. Automated claims orchestration via straight through processing workflow rules from OmniStudio with minimal human intervention from insurance adjusters orunderwriters, allowing claims to be completed faster and at scale Answer: A C D Explanation The following value outcomes should the company’s stakeholders expect from implementing Salesforce Financial Services Cloud (FSC): Achieved higher CSAT & NPS scores attributedto personalized customer experiences driven by shorter waits due to decreased average case handle times and improved self-service solutions via Einstein Bots for FSC. This outcome means that the company improved its customer satisfaction (CSAT) and net promoter score (NPS) metrics by providing customized and relevant interactions with customers, reducing their waiting time by handling cases more efficiently, and offering self-service options through chatbots powered by artificial intelligence. Improvedcustomer onboarding experiences by fast-tracking and simplifying document tracking and approvals via FSC Action Plans. This outcome means that the company enhanced its customer onboarding process by speeding up and streamlining the document management andapproval workflow using Action Plans, which are features that allow users to create templates for common client processes, such as account opening, loan application, or financial review. Drove Advisor productivity with a daily task list, client life events, opportunities, and aggregated household information directly from the FSC Home Page. This outcome means that the company increased its advisor productivity by providing them with a daily task list that shows their priorities and action items, a client life events component that shows important events in their clients’ lives, an opportunities component that shows potential sales deals, and an aggregated household information component that shows a holistic view of their clients’ financial situation, all onthe FSC Home Page Question #:5 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. The usershould be using the Member Relationship button under the Actionable Relationship Center. B. Reciprocal roles have not been created in the org. C. Leaders in it certification 3 of 106 Practice Exam Salesforce - Financial-Services-Cloud C. Sharing rules have not been set up for reciprocal roles. D. The user should be using the Edit Group button toaccess reciprocal roles. Answer: B D Question #:6 The Salesforce Admin at Lake Tahoe Bank considering implementing Financial Services Cloud. What is the bestway for the Admin to access a Financial Services pre-configured org, including data and the right licenses, to learn about the product? 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 theproduct 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 getpreconfigured and preloaded 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 youraccount executive or solution engineer. Verified References: : Trailhead Module 5 Question #:7 Lake Tahoe Bank needs to conduct periodic reviews with their customers to review credit & debit 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? 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 setdue dates for tracking. C. Use Lightning Scheduler to periodically schedule tasks for account owners. D. Create an Action Plan Template with associated pre-determined Tasks and automate the periodical creation of Action Plans for customer accounts. Answer: D Leaders in it certification 4 of 106 Practice Exam Salesforce - Financial-Services-Cloud Explanation 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-determined Tasks, such as reviewing credit & debit card usage, reviewing account payables, and discussing credit needs, users can ensure that these activities are tracked and followed up on in a timely manner. Users can also automate the periodical creation of Action Plans for customer accounts using Process Builder or Apex triggers. Question #:8 Lake TahoeBank 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). D. Implement Financial Service Cloud in the existing org's Sandbox and then deploy to productionorg 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. Thisapproach 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 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 References:: Salesforce Financial Services Cloud Implementation Guide, page 8. Question #:9 A bank recently sold its wealth management division and wants to improve its customers’ digital experience. The bank engaged Salesforce Professional Services to upgrade its existing Salesforce CRM to Financial Services Cloud and deliver its Bank of the Future vision. Which three expected outcomes can serve as return on investment (ROI) justifications to the bank's chief financial officer (CFO)and investment committee? A. Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers' financial needs and deepen client relationships. Leaders in it certification 5 of 106 Practice Exam Salesforce - Financial-Services-Cloud B. Deliver connected and personalized digital experiences to the bank's customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank. C. Simplify the client onboarding process with proper tools to streamline customer discovery and internal reviews through renewal. D. Manage policy holder’s interactions with customer service agents intelligently through the underwriting process. E. Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships. Answer: A B E Explanation Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers’ financialneeds and deepen client relationships; Deliver connected and personalized digital experiences to the bank’s customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank;Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships. Question #:10 A financial services company needs a custom field for reporting when relating two business accounts to each other. Which object should the administrator configure the custom field on? A. Contact-Contact Relationship B. Account C. Account Account Relationship D. Account Contact\Relationship Answer: C Explanation Toconfigure a custom field for reporting when relating two business accounts to each other, the administrator should configure the custom field on the Account-Account Relationship object. The Account-Account Relationship object is a custom object in Financial Services Cloud that allows you to create and manage relationships between two accounts, such as Household Member, Business Owner, Trustee, or Friend. You can use the Account-Account Relationship object to store additional information about the relationship between two accounts, such as role, start date, end date, or status. You can also use the Account-Account Relationship object to report on the account-account relationships and analyze their impact on your business. Verified References: : Salesforce Help Article : Salesforce Help Article Leaders in it certification 6 of 106 Practice Exam Salesforce - Financial-Services-Cloud Question #:11 Which three things must an admin keep in mind when creating Action Plan Templates'5 A. When creating Action Plan Templates with the Ul. you can designate a plan owner different from the plan creator. B. When you create an Action Plan from a template for a specific target record, the plan creator can choose whether the date calculation is based on calendar or working days. 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. D. When youcreate 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 wantto 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 userwho 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 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 processor 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 taskis due. You can specify different date offsets for each task in the template. Verified References: : Salesforce Help Article 2 : Salesforce Help Article 3 : Salesforce Help Article 4 Question #:12 Scott Adams calls his Personal Banker Hank Burton to apply for a loan to buy a boat. Hanks wants to refer Scott to the loan department, but the current process is manual and time-consuming. Hank is asking the bank's SystemAdministrator to automate Referral creation in Salesforce. How can the Admin speed up and simplify Referral creation? A. Leaders in it certification 7 of 106 Practice Exam Salesforce - Financial-Services-Cloud A. Write a trigger to create Referrals from a 'Create Referral* button. B. Use the Case process and create Cases with Case Type 'Referrar'. C. Use Global Action To create Referrals. D. Use Answer: C Explanation To speed up and simplify Referral creation in Salesforce, the Admin can use Global Action to create Referrals. Global Actions are actions that let users create records without leaving theircurrent page or context. By using Global Actions, the Admin can enable Hank to create Referrals from any page in Salesforce, such as Chatter, Home, or Account pages. The Admin can also customize the layout and fields of the Global Action to capture only relevant information for Referrals Question #:13 Whichthree insurance processes are managed by the Policy Administration component? A. Payments B. Approvals C. Commissions D. Underwriting E. Endorsements Answer: A B E 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 authorizea 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. Leaders in it certification 8 of 106 Practice Exam Salesforce - Financial-Services-Cloud Endorsements: Endorsements are the changes or modifications that a policyholder requests or an insurance company makes to a policy. You can use the Policy Administrationcomponent 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 References: : Salesforce Help Article : Salesforce Help Article : Salesforce Help Article Question #:14 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. 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. Answer: A B Explanation 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 following information: The role of the member within the group, such as Owner, Beneficiary, Trustee, etc. Whether the groupis the primary group for the member, which affects how financial data is rolled up and displayed. Verified References: : Salesforce Financial Services Cloud User Guide, page 38. Question #:15 What does the Salesforce Admin have to install to provide users access to referral dashboards and reports? A. The managed extension package for intelligent Need-Based Referrals and Scoring B. Einstein Analytics for Financial Services 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 Leaders in it certification 9 of 106 Practice Exam Salesforce - Financial-Services-Cloud referral dashboards and reports, as well as referral scoring and routing features. Question #:16 An advisor is setting up a Household in Financial Services Cloud for their new clients, Oliver and Macie Dogging ton. The advisor created a Person Account recordfor both Oliver and Macie, and a Household record for the Dogging ton household. While creating the Household group, the advisor attempted to input the below information but received an error. Member Name: Oliver Dogging ton Role in Group: Client PrimaryMember: Enabled Primary Group: Enabled Activities and Objects to Roll Up: All Member Name: Macie Dogging ton Role in Group: Spouse Primary Member: Enabled Primary Group: Enabled Activities and Objects to Roll Up: All Based on the information provided, whatcaused the error that the advisor received? A. Primary Member - two individuals cannot be designated as the Primary Member of the same Household. B. Spouse is not a valid Role within a Group. C. Primary Group - two individuals cannot designate the sameHousehold as their Primary Group. D. Activities and Objects to Roll Up - two individuals cannot designate their activities to roll up to the same Household. Answer: A Question #:17 Which three processes are part of Claims Management? A. Auto Adjudication B. Reserve Management C. Quoting Leaders in it certification 10 of 106 Practice Exam Salesforce - Financial-Services-Cloud D. Underwriting E. Payment Answer: A B E Explanation The following processes are part of Claims Management: Auto Adjudication, which is a process that allows claims to be processed automatically without human intervention, based on predefined rulesand criteria. Auto adjudication can improve the efficiency and accuracy of claims processing and reduce operational costs. Reserve Management, which is a process that involves estimating and setting aside funds for future claims payments. Reserve management can help insurers manage their cash flow and solvency and comply with regulatory requirements. Payment, which is a process that involves disbursing funds to claimants or providers after a claim has been approved. Payment can involve different methods, such as check, electronic funds transfer, or debit card. Payment can affect the customer satisfaction and retention rate of insurers. Question #:18 A company wants to convert its Salesforce Financial Services Cloud implementation from using the individual accountmodel to using person accounts. Which three things should a consultant do to prepare for the conversion? A. Update all opportunities linked to individual account records to be owned by the individual account record's owner. B. Ensure each account.phone field in the individual account record is blank. C. Ensure all individual account records to be converted are only linked to exactly one contact record. D. Test out the conversion in a sandbox, including all integrations and customizations. E. Ensure each individual account to be converted is not a parent account of any other account records. Answer: C D E Question #:19 Our Personal Banker Hank Burton is learning to use Action Plans to ensure compliance in the clientonboarding 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. Leaders in it certification 11 of 106 Practice Exam Salesforce - Financial-Services-Cloud 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. Answer: A B Explanation Hank can see Action Plan Tasks in two places: Onthe 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 #:20 Which three standard fields are available to track a customer’s retirement gial progress? A. Contributions B. Actual value C. Total Value D. Target value E. Target Date Answer: B D E Explanation The following standard fields are available to track a customer’s retirement goal progress: Actual value, which is a currencyfield that represents the current value of the goal. Target value, which is a currency field that represents the desired value of the goal. Target Date, which is a date field that represents the expected date of achieving the goal. Question #:21 What are two language-related limitations of Financial Services Cloud? A. Predefined reciprocal roles areavailable only in English. B. Custom component labels are supported only in English. Leaders in it certification 12 of 106 Practice Exam Salesforce - Financial-Services-Cloud C. Referral record type labels are supported only in English. D. Flows are available only in English. Answer: A C Explanation Predefined reciprocal roles are available only in English and Referral record type labels are supported only in English are two language-related limitations of Financial Services Cloud. Predefined reciprocal roles are the roles that define the relationship between two individual clients or between an individualclient and a group. For example, Spouse, Child, Parent, etc. These roles are not translated into other languages and cannot be edited or deleted. Referral record type labels are the labels that indicate the type of referral, such as Client Referral or Prospect Referral. These labels are also not translated into other languages and cannot be edited or deleted.References: [Predefined Reciprocal Roles], [Referral Record Type Labels] Question #:22 A financial services company is migrating a legacy customer relationship management system to Financial Services Cloud (FSC). The company is requesting that its consulting partner introduce specific customer interaction features mapped to its business processes. What should the consultant consider when introducing the FSC features? A. If there is a business process for tracking the customer life events and milestones, and timely reminding of opportunities, the Action Plan component is recommended to use. B. If there is a business process for limiting role-based data visibility, the Interaction Summaries component is recommended to use. C. If there is a business process for taking detailed notesfor client meetings and adding action items, the Action Plan component is recommended to use. D. If there is a business process for showing common interests and needs across the company's clients, the Interaction Summaries component is recommended to use. Answer: C Question #:23 Cumulus Bank's mortgage department is currently using spreadsheets to gather client data for mortgage applications. The bank is interested in improving the efficiency of this process. Which two features shoulda consultant suggest to Cumulus Bank to implement? A. The standard mortgage flow templates to build a mortgage flow in Financial Services Cloud B. Flow Builder to automate these business processes Leaders in it certification 13 of 106 Practice Exam Salesforce - Financial-Services-Cloud C. A Mortgage Application’ custom object to hold the collected client data D. Data Import Wizard to upload the data collected in spreadsheets Answer: A B Explanation Salesforce provides features and tools to help financial institutions improve the efficiency of their mortgage processes and provide better experiences for their customers. Some of the features and tools that a consultant can suggest to Cumulus Bank to implement are: The standard mortgage flow templates to build a mortgage flow in Financial Services Cloud: These are prebuilt flow templates that guide users through the steps of creating a mortgage application, capturing borrower information, and submitting the application for approval7. The templates can be customized to suit the bank’s specific needs and requirements8. Flow Builder to automate these business processes: Flow Builder is a point-and-click tool that lets users create flows to automate business processes in Salesforce9. Flow Builder can be used to create custom mortgage flows that integrate with other Salesforce features, such as data models, objects, fields, validation rules, and actions10. References: Flow Builder for Mortgage Customize Mortgage Flows Flow Builder Create a Mortgage Flow Question #:24 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. ReferralGroup Process Builder Answer: B Explanation Leaders in it certification 14 of 106 Practice Exam Salesforce - Financial-Services-Cloud 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. Question #:25 A financial services company needs to capture a new type ofreferral that has different required fields than what is currently configured in the org. Which three steps should the administrator take to configure Financial Services Cloud correctly based on the scenario? A. Assign the record type to users. B. Create anew record type Referral' on the Lead object. C. Create a new referral record type mapper record. D. Create a custom Referral object. E. Update the lead page layout. Answer: A B E Explanation The following steps should be taken by the administrator to configureFinancial Services Cloud correctly based on the scenario: Assign the record type to users. You need to assign the new record type to the user profiles or permission sets that need to create or access referrals of that type. You can assign record types by going to Setup > Profiles > Object Settings > Leads > Record Types or Setup > Permission Sets > Object Settings > Leads > Record Types. Create a new record type Referral’ on the Lead object. You need to create a new record type on the Lead object and nameit Referral. You can use this record type to distinguish referrals from other types of leads and apply different page layouts, business processes, or validation rules for referrals. Update the lead page layout. You need to update the page layout for the Referral record type and add or remove fields according to the requirements. You can also make some fields required or read-only on the page layout level. You can edit page layouts by going to Setup > Object Manager > Lead > Page Layouts. Verified References: : Salesforce Help Article 3 : Salesforce Help Article : Salesforce Help Article Question #:26 Salesforce provides a robust setof automation features to help save time and resources. For example, a system administrator can use Flow Builder to automate most of an organization's repetitive business processes. Which use case is a suitable fit for Flow Builder? Leaders in it certification 15 of 106 Practice Exam Salesforce - Financial-Services-Cloud A. Coordinate multipleflows and assign them to multiple teams or individuals. B. Suggest offers and actions to users that are tailored to meet an organization's unique business criteria. C. Collect input from internal users with a form placed on a Lightning page cKlaunched byabutton. D. Perform an operation for more records than schedule-triggered flows allow Answer: C Explanation A suitable use case for Flow Builder is to collect input from internal users with a form placed on a Lightning page or launched by a button. Flow Builder is atool that allows users to automate business processes by building flows that guide users through screens, execute logic, manipulate data, and interact with Salesforce and external systems. By using Flow Builder, the system administrator can create a flow that collects input from internal users with a form and performs actions based on the input. Question #:27 What 2 considerations should the Salesforce Administrator review before implementing Flow for customer onboarding? A. Use Field Level Security on Milestones B. Flow for Financial Service Cloud is not available for the Individual Object Model. C. Flow Screen Input Components can only be used in Financial Service Cloud Flow Templates D. The Flow users require a Flow Permission Set License. Answer: A B Explanation The following considerations should be reviewed before implementing Flow for customer onboarding: Use FieldLevel Security on Milestones, which is a setting that controls whether users can view and edit fields on records. The Admin should use Field Level Security to restrict access to the Milestones field on the Flow Template object, which is used to track the progress of customer onboarding flows2. Flow for Financial Service Cloud is not available for the Individual Object Model, which is an alternative data model that uses the Individual object instead of Person Accounts to store information about people. Flow for Financial Service Cloud only supports Person Accounts as the primary object for customer onboarding flows2. Verified References: 2 Question #:28 Leaders in it certification 16 of 106 Practice Exam Salesforce - Financial-Services-Cloud Which three record type options should an advisor configure for a Lead object configuration? A. Referral B. Opportunity C. General D. Adjustments E. Retirement Planning Answer: A C E Question #:29 A wealth management division manages the financial assets of many wealthy clients. Which three steps should the Financial Services Cloud consultant take to offer ahigh level of customization to boost user productivity? A. Create a new type of person account so trust group details roll down to the beneficiaries level. B. Create a Custom Field Set solely for the Wealth Managers without affecting the Investment Bankers. C. Assign the Custom Field Set to the Financial Summary component. D. Create and assign the Cuslhm Field Set permission set to all users. E. Assign the Custom Field Set To a Lightning component. Answer: B C E Explanation The following steps should be taken by the consultant to offer a high level of customization to boost user productivity for the wealth management division: Create a Custom Field Set solely for the Wealth Managers without affecting the Investment Bankers. A Custom Field Set is a construct inFinancial Services Cloud that allows you to define a collection of fields that can be displayed in a Lightning component, such as the Financial Summary or the Financial Account List. You can use Custom Field Sets to customize the fields that are relevant for different user groups or business scenarios, without modifying the underlying data model or page layout. You can create a Custom Field Set by goingto Setup > Object Manager > Financial Account > Field Sets and adding or removing fields according to your requirements. Assign the Custom Field Set to the Financial Summary component. The Financial Summary component is a Lightning component that displays aggregated financial data for a selected record, such as an account, contact, or opportunity. You can usethe Financial Summary component to provide a holistic view of your client’s financial situation and goals. You can assign a Custom Field Set to the Financial Leaders in it certification 17 of 106 Practice Exam Salesforce - Financial-Services-Cloud Summary component by using the Lightning App Builder and selecting the Custom Field Set from theComponent Properties panel. Assign the Custom Field Set To a Lightning component. A Lightning component is a reusable unit of user interface that can be added to any Lightning page, such as record pages, app pages, or Home pages. You can use Lightning components to enhance the functionality and user experience of your pages. You can assign a Custom Field Set to a Lightning component by using the Lightning App Builder and selecting the Custom Field Set from the Component Properties panel. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2 : Salesforce Help Article 3 Question #:30 Personal Banker Hank Burton is questioning his Referral Score shown in Salesforce Financial Services Cloud. When is the Referral Score updated? A. The Referral Score updated when a referral is convened to an Opportunity or closed. 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. D. The Referral Score updated when an opportunity associated with the Referral is Closed Won Answer: D 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 calculatedas the number of referrals converted to opportunitiesdivided 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 References: : Salesforce Help Article 2 : Salesforce Help Article 4 Question #:31 A Bank of the Future customer calls the bank to update the address on their account. The call center agent handling the call needs to enter a new address into the system. The agent enters the new contact information using an OmniScript and then needs to generate a prefilled PDF with the new address that can be shared with the customer. Which two OmniStudio tools should a consultant recommend to generate the prefilled PDF? A. OmniStudio Action Document Generation B. Calculation Procedure C. DataRaptor Leaders in it certification 18 of 106 Practice Exam Salesforce - Financial-Services-Cloud D. Integration Procedure Answer: A C Explanation The following OmniStudio toolsshould be recommended to generate the prefilled PDF: OmniStudio Action Document Generation, which is a tool that allows users to create documents from templates and data sources using OmniScripts and Integration Procedures. Byusing OmniStudio Action Document Generation, the consultant can create a document template with placeholders for the contact and address information and generate a PDF file from it using an OmniScript. DataRaptor, which is a tool that allows users to extract and transform data from Salesforce or external systems using Integration Procedures. By using DataRaptor, the consultant can create a data source that retrieves the contact and address information from Salesforce and maps it to the document template placeholders. Question #:32 A financial services company has found that more than two-thirds of customer onboarding processes are manually done by client specialists, consuming large amounts of time and resulting in errors in the sales process. The company contacts a consultant to learn how to leverage Financial Services Cloud features to improve the current state. What should the consultant consider from a customer onboarding perspective? A. If the company struggles with the low efficiency of collecting data in questionnaires and meeting compliance with the company policies. Action Plan can be used to improve the current state. B. If the company struggles with the low effi^ency oftracking required documents for its customers and creating templates for ^ checklists. Discovery Framework is recorrU^ided to improve the current state. C. If the company struggles with the low efficiency of tracking required documents for its customersand creating templates for checklists, Action Plan is recommended to improve the current state. D. If the company struggles with the low efficiency of collecting data in questionnaires and meeting compliance with the company policies. Discovery Frameworkcan be used to improve the current state. Answer: A Explanation The consultant should consider the following from a customer onboarding perspective: If the company struggles with the low efficiency of collecting data in questionnaires and meeting compliance with thecompany policies, Action Plan can be used to improve the current state. Action Plan is a feature in Financial Services Cloud that allows you to automate and standardize common business processes or service requests, such as customer onboarding, account opening, or loan application. You Leaders in it certification 19 of 106 Practice Exam Salesforce - Financial-Services-Cloud can use Action Plan to create templates that define the tasks, owners, and deadlines for each process or request. You can also use Action Plan to create instances of templates that apply to specific target records, such as accounts, contacts, or opportunities. Action Plan can help you collect data in questionnaires and ensure compliance with company policies by providing step-by-step guidance and validation rules for each task. Verified References: : Salesforce Help Article : Salesforce Help Article Question #:33 Users at Lake Bank have been creating multiple events for once in a lifetime event such as birth. What should an Administratordo to prevent users from accidentally creating more than one event of such an event type? A. Create an Apex trigger that will prevent the saving of multiple one-time events B. Select the Unique checkbox on the picklist value for the Event Type field on thePerson Life Event object C. Remove user’s ability to create one-time events D. Create a validation rule that will stop the user if they attempt to add multiple one-time events. Answer: D Explanation To prevent users from accidentally creating more than one event ofsuch an event type, the Admin should create a validation rule that will stop the user if they attempt to add multiple one-time events. A validation rule is a rule that verifies that the data a user enters in a record meets the standards you specify beforethe user can save the record. By creating a validation rule, the Admin can ensure that only one event of a certain type can be created for each contact. Question #:34 An asset management firm that is moving to Salesforce from its old CRM wants to be able to bring over its client data on drivers’ licenses and passports. 55m 058 Which Financial Services Cloud object should a consultant recommend? A. Document Checklist Item B. Received Document C. Identification Document D. Identity Document Answer: C Explanation Leaders in it certification 20 of 106 Practice Exam Salesforce - Financial-Services-Cloud Identification Document is the Financial Services Cloud object that should be recommended for storing client data on drivers’ licenses and passports. Identification Document is a standard object that represents a document that verifies a person’s identity, such as a driver’s license, passport, or national ID card. You can create identification document records for individual clients and link them to their person accounts. You can also store informationsuch as document type, number, issue date, expiration date, and country of issuance.References: [Identification Document Object], [Manage Identification Documents] Question #:35 A financial services company needs to add new values for how a customer can be related to a financial account. Which object/field should the administrator add newvalues on? A. Object: Financial Account Role; Field: Role B. Object: Financial Account; Field: Primary Owner C. Object: Financial Account; Field: Joint Owner D. Object: Account-Account Relationship; Field: Related Role Answer: A Explanation To add new values for howa customer can be related to a financial account, the administrator should add new values on the Role field of the Financial Account Role object. The Financial Account Role object is a junction object that links a contact or an individual to a financial account and defines their role or relationship with that account. The Role field is a picklist field that specifies the role of the contact or individual for the financial account, such as owner, beneficiary, trustee, or custodian. By adding new values on the Role field of the Financial Account Role object, the administrator can create new categories of financial account relationships for customers. Question #:36 Where should a Salesforce Administrator go to add custom icons to the Life Events and Business Milestones? A. Lightning Page Layout > LifeEvents 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 Leaders in it certification 21 of 106 Practice Exam Salesforce - Financial-Services-Cloud To add custom icons to the Life Events and Business Milestones, you need to upload them as static 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 References: : Salesforce Financial Services Cloud Implementation Guide, page 58. Question #:37 A financial services company needs to alert advisors about changes in client records that require action. What should the administrator consider when configuring Record Alerts? A. When the administrator adds a new Record Alert Category, the severity value in the alert category is the default value on the record alerts advisors create and cannot be changed. B. When the admin creates a value for the Severity field, the warning icon is associated with the field automatically, and advisors cannot change the icon. C. With permissions for Record Alerts, users can create record alerts on all custom objects and standard objects such as Financial Account. D. Record alert categories are not required when creating a record alert, but they help keep alerts organized. Answer: C Question #:38 A consultant advising Cumulus Bank wants to ensure that the bank is compliant with Identity Verification Regulations when customers contact the bank. Which twofeatures should a consultant leverage to design this business process? A. Omni Studio B. Process Builder C. Discovery Framework D. Screen Flows Answer: B D Explanation Process Builder and Screen Flows are two features that can be used to design a business processfor identity verification. Process Builder is a tool that allows you to automate business processes by creating workflows that trigger actions based on certain criteria. Screen Flows are a type of flow that guide users through a series of screens to collect and update data. You can use Process Builder to launch a Screen Flow when a customer contacts the bank, and use the Screen Flow to capture and verify the customer’s identity information.References: [Process Automation], [Screen Flows] Leaders in it certification 22 of 106 Practice Exam Salesforce - Financial-Services-Cloud Question #:39 A wealthy client owns a boutique shoe store called Smith'sShoes. Their financial advisor would like to add this relationship to the Financial Services Cloud (FSC) to track the complete picture of relationships related to the wealthy client's household. Which three options should the Financial Services Cloud consultant use when mapping this relationship in FSC? A. Account Account Relationship object B. Account Contact Relationship object C. Account object - Household record type D. Contact object E. Account object - Business record type Answer: A C E Explanation QUESTIONNO: 131 Rachel Addams belongs to two households: 1. The Addams household where Rachel lives with her spouse, Nigel Addams. Rachel is the client and, as such, is listed as the primary member of that household. This household is also Rachel's primary group. 2. The Symonds household. This household belongs to Rachel's parents, but Rachel manages their finances. Rachel is considered the beneficiary of this household. In addition, Rachel's household has a related account, the Addams Charitable Trust, and a related contact, Ivan M. Kohl, attorney at law. What should be the relationships between the parties when the Financial Services Cloud consultant sets up Rachel's person account? 1.Primary Group Household - Addams Household Primary Member - Rachel Addams Spouse - Nigel Adams Trustee - Addams Charitable Trust Household - Symonds Household Primary Member - Neil Symonds Leaders in it certification 23 of 106 Practice Exam Salesforce - Financial-Services-Cloud Beneficiary - Rachel Addams Related Accounts - Addams Charitable Trust Related Contacts - Ivan M. Kohl A financial services company needs to transform the individual data model to person accounts in Financial Services Cloud (FSC), and its consulting partner is helping decide the sequence of the user stories in the design phase. What should the implementation team do as the top priority during planning? A. Perform a data backup. B. Enable a person account in a sandbox. C. Configure Person Account record types. D. Enable person accounts in FS Answer: A The relationships between the parties when the Financial Services Cloud consultant sets upRachel’s person account should be as follows: Primary Group Household - Addams Household Primary Member - Rachel Addams Spouse - Nigel Adams Trustee - Addams Charitable Trust Household - Symonds Household Primary Member - Neil Symonds Beneficiary - RachelAddams Related Accounts - Addams Charitable Trust Related Contacts - Ivan M. Kohl Question #:40 Which three referral metrics aretracked with custom components included in Financial Services Cloud? A. Web to Lead Referrals B. Expressed interests Leaders in it certification 24 of 106 Practice Exam Salesforce - Financial-Services-Cloud C. My Top Referrers D. My Approved Referrals E. Referrals Assigned to me Answer: B C E Explanation The following referral metrics are tracked withcustom components included in Financial Services Cloud: Expressed interests: This metric shows the number of referrals that have a specific expressed interest, such as a mortgage, a credit card, or a checking account. You can use this metric to understandthe customer needs and interests that generate the most referrals. 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 andappreciate your best sources of business. Referrals Assigned to me: This metric shows the number of referrals that are assigned to you and 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 References: : Salesforce Financial Services Cloud User Guide, page 40. : Salesforce Financial Services Cloud User Guide, page 41. : Salesforce Financial Services Cloud User Guide, page 42. Question #:41 Omni Script represents processes with fast, personalized, and consistent responses. This type extends the metadata type and inherits its full name field. To use the Omni Script metadata type, what should the administrator enable inthe Salesforce org? A. Discovery Framework B. Lightning Experience for Financial Services Cloud C. Custom Domain D. Einstein Relationship Insights Answer: C Question #:42 A retail bank is using Financial Services Cloud to support its operations.The bank has received complaints that its clients' documentation is often submitted late and when clients call, customer service agents are struggling with multiple systems to determine where the documentation is. Which solution should a consultant suggestthe client explore? Leaders in it certification 25 of 106 Practice Exam Salesforce - Financial-Services-Cloud A. A Marketing Cloud integration to manage client communications B. An APEX solution to leverage the SendMail capabilities of Salesforce C. Process Builder to create automatl&Socument requests for missing items D. The Send Documents flow for Retail Banking Answer: D Explanation The solution that the consultant should suggest the client explore to improve its clients’ documentation submission and tracking is the Send Documents flow for Retail Banking. The Send Documents flow for Retail Banking is aprebuilt flow that allows users to send documents requests to clients via email and track the status of the requests in FSC. The flow uses DocuSign eSignature integration to enable clients to sign and return documents electronically. By using the Send Documents flow for Retail Banking, the consultant can help the client streamline and simplify its document management process and improve its customer service agents’ efficiency Question #:43 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) logic that asks for different information depending on the responses. Which Salesforce feature should be used for this digital onboarding process? A. Aclion Plans B. Financial Goals C. Actionable Relationship Center D. Flows Answer: D Explanation 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 and display information. Flows can have multiple steps and branching logic that ask for different information depending on the responses. Flows can also integrate with existing data and prefillfields with information that the bank already has on file, reducing the need to ask the customer for 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 References: : Salesforce Help Article 1 : Salesforce Help Article 2 Question #:44 Leaders in it certification 26 of 106 Practice Exam Salesforce - Financial-Services-Cloud A consultant is building an agent console for an insurance company using FlexCards to provide a 360-degree view of its customers. An Integration Procedure will be used to retrieve Account, Opportunity, andContract data. The agent wants the following information displayed: Account information including account name, phone, and website Active opportunities related to the Account Active insurance policies related to the Account The ability to view andrenew policies How should the consultant design the FlexCards to meet these requirements? A. Parent FlexCard with single Child and Card Actions B. Parent FlexCard with multiple Q**jld Flex Cards and Card Actions C. Parent FlexCard with multiple Cnrrarenand different Card States D. Parent FlexCard with single Child and multiple Card States Answer: B Explanation The consultant should design the FlexCards as follows to meet the requirements: Parent FlexCard with multiple Child Flex Cards and Card Actions. A Parent FlexCard is a construct in Financial Services Cloud that allows you to display information from one record in a card-like format on a Lightning page. A Child FlexCard is a construct in Financial Services Cloud that allows you to display information from related records in a card-like format within a Parent FlexCard. A Card Action is a construct in Financial Services Cloud that allows you to perform actions on a record from within a FlexCard, such as edit, delete, renew, or view details. You can use Parent FlexCards, Child FlexCards, and Card Actions to create an agent console that provides a 360-degree view of your customers and enables quick actions on their records. Verified References: : Salesforce Help Article : Salesforce Help Article : SalesforceHelp Article Question #:45 Early in the discovery and solution meetings, it was determined that the client would primarily use out-of-the-box Financial Services Cloud (FSC) objects and components with minimal custom objects needed. In addition, it was decided that records should be private, but the managerial chain would require visibility into all their direct reports' records. Which three security settings must be set up in Salesforce to meet these requirements? A. Only Custom Profiles should be configured and assigned to all users to use FSC components and field-level security. The ^ administrator should configure custom profiles and assign them to all users Leaders in it certification 27 of 106 Practice Exam Salesforce - Financial-Services-Cloud B. Organization-wide sharing defaults should be set to meet sharing requirements for all objects in use. C. Each object sharing should be set up,explicitly sharing each user's record with the manager. D. The Role Hierarchy in setup should be configured to allow for managers to automatically see records of those under them. E. Custom permission sets and out-of-the-box FSC permission sets should be configured or updated and assigned to all users for the use of FSC components and field-level security. Answer: B D E Explanation The following security settings must be set up in Salesforce to meet the requirements of using out-of-the-box Financial Services Cloud objects and components with minimal custom objects and private record sharing with managerial visibility: Organization-wide sharing defaults should be set to meet sharing requirements for all objects in use. Organization-wide sharing defaults are the baseline level of access that users have to records that they do not own or are not explicitly shared with them. You can use organization-wide sharing defaults to specify the default access level for each object, such as Public Read/Write, Public Read Only, or Private. You can also use organization-wide sharing defaults to enable or disable features such as grant access using hierarchies, external access, or external org-wide defaults. The Role Hierarchy in setup should be configured to allow for managers to automatically see records of those under them. The Role Hierarchy is a structure that represents the levels of data visibility and access that users have in an organization based on their role or position. You can use the Role Hierarchy to define the roles and subordinates for each user and grant access to records owned by or shared with users below them in the hierarchy. You can also use the Role Hierarchy to control the visibility of dashboards, reports, and territories. Custom permission sets and out-of-the-box FSC permission sets should be configured or updated and assigned to all users for the use of FSC components and field-level security. Permission sets are a collection of settings and permissions that give users access to various tools and functions in Salesforce. You can use permission sets to grant additional permissions or access levels to users without changing their profile. You can also use permission sets to control the field-level security for each object and field, which determines whether users canview, edit, or delete data in those fields. Financial Services Cloud provides several out-of-the-box permission sets that grant access to FSC components and features, such as Action Plans, Financial Accounts, or Relationship Groups. You can also create custom permission sets to meet your specific business needs. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2 : Salesforce Help Article 3 Question #:46 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. The share table records are deleted. Leaders in it certification 28 of 106 Practice Exam Salesforce - Financial-Services-Cloud B. Share table records need to be manually deleted. C. All opportunity participant records are delete D. The opportunity participant recordsare not deleted. Answer: A D 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 grantedby 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. Question #:47 Lake Tahoe Bank allows more than two owners on Financial Accounts. The Salesforce Admin wants to make sure that balances are rolled up to all joint owner's primary Households. Which 2 options does the Salesforce Admin have to accomplish this? A. Enable all RBL (Rollup By Lookup) rules to ensure the balances are rolled up to the household level. B. Enable the 'Enable Rollup Summary' in custom settings C. Create custom RBL (Rollup By Lookup) rules to rollup the joint owner balances. 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 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, suchas 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 Role field on the Account Contact Relationship object. Verified References: : Salesforce Financial Leaders in it certification 29 of 106 Practice Exam Salesforce - Financial-Services-Cloud Services Cloud Implementation Guide, page75. Question #:48 An investment bank is implementing Financial Services Cloud (FSC) to manage the deal pipeline. Each opportunity has confidential information that the deal teammembers must only view. In addition, each member needs the ability to take and share notes directly within Salesforce with others on the team. Which three FSC features should be part of the solution design? A. Financial Deal Management B. Sharing Rules C. Complianthata Sharing D. Profiles E. Interaction Summaries Answer: A B E Explanation The following FSC features should be part of the solution design for managing confidential deal information and notes sharing among deal team members: Financial Deal Management: Financial Deal Management is a feature in Financial Services Cloud that allows you to track and manage complex deals that involve multiple parties, products, and stages. You can use Financial Deal Management to store confidential deal information such as deal name, amount, status, or participants. You can also use Financial Deal Management to associate opportunities, products, or tasks with a deal. Question #:49 A consultant is working with a new customer and has gained a firm understanding of their business processes and systems in preparation for implementing Salesforce Financial Services Cloud. What should the consultant create as a deliverable for the current state business process? A. Word document telling the story of the process from the user's perspective B. An Excel spreadsheetwith steps of the process as rows, and systems and personas in columns C. An end-to-end visualjmap of the process using personas, systems, inputs, and outcomes D. A Powerpoint deck wftJscreenshots of the current systems and callouts to what is happening oneach slide Leaders in it certification 30 of 106 Practice Exam Salesforce - Financial-Services-Cloud Answer: C Explanation To document the current state business process for implementing Salesforce Financial Services Cloud, the consultant should create an end-to-end visual map of the process using personas, systems, inputs, and outcomes. A visual map isa tool that can help illustrate the flow of a business process from start to finish, showing the steps, decisions, and dependencies involved in each stage. A visual map can also include personas, systems, inputs, and outcomes to provide more context and detail for each step of the process. Personas are fictional characters that represent the different roles or users that participate in or interact with the process. Systems are the tools or applications that are used to perform or support the process. Inputsare the data or information that are required or provided for each step of the process. Outcomes are the results or outputs that are achieved or delivered by each step of the process. Verified References: : Salesforce Help Article 3 : Salesforce Help Article Question #:50 During a project's design phase, a consultant must provide a Financial Services Cloud solution that can support Compliant Data Sharing (CDS). What are three things the consultant should consider regarding CDS? A. ParticipantRoles provide another way to grant data access without overwriting sharing behavior from existing sharing features. B. A financial services company wants to track different categories of financial accounts in its org. Relationship managers must be able tosee all of these financial accounts in one place on the customer's Account record page grouped by categories. Which three steps should an administrator take to configure the Financial Account object and the Account Lightning record page to meet the design? C. Compliance managers and Salesforce administrators can enable CDS for Account and Opportunity objects. D. Role Hierarchy—based sharing is disabled by default in CDS. E. In a standard Salesforce org, Role Hierarchy for Account and Opportunity objects isenabled by default and can't be turned off. Answer: A C D Question #:51 To access all Financial Services Cloud (FSC) functionalitiesavailable out of the box, a consultant must install the FSC Managed Package and the Unmanaged Extension Packages. Which two functionalities are included in the FSC Unmanaged Extension Packages? A. Custom objects to track Financial Accounts and Household B. The Commercial Banking dashboard C. Field sets that configure how fields display in the client and household profiles D. Leaders in it certification 31 of 106 Practice Exam Salesforce - Financial-Services-Cloud D. Predefined list views of clients and households Answer: B C Question #:52 An insurance company aims to improve a call center's productivity. A detailed analysis discovered that agents spend a lot of time capturing data while adding and updating beneficiary details. Capturing premium payment details (payment date and frequency) is another time-consuming task. Which action should a Financial Services Cloud consultant take to resolve the issue? A. Utilize Insurance Flow Templates. B. Create an Action PlanTemplate for capturing beneficiary data and payment information. C. Provide a better user interface by building Lightning web components for beneficiary data and payment information. D. Install an Insurance Data AppExchange package. Answer: A Explanation A Financial Services Cloud consultant can suggest utilizing Insurance Flow Templates to resolve the issue of improving the call center’s productivity and reducing the time spent on capturing data for beneficiary details and premium payment details. Insurance Flow Templates are prebuilt flow templates that guide users through the steps of creating or updating insurance policies and beneficiaries in Financial Services Cloud. The templates can be customized to suit the specific needs and requirements of theinsurance company. By using Insurance Flow Templates, the call center agents can streamline their data entry process and provide better service to their customers. References: [Insurance Flow Templates] [Customize Insurance Flows] Question #:53 A major Japanese bank is expanding geographically and opening additional branches in Asia. As such, they hired a regional consulting firm to implement Financial Services Cloud (FSC) locally. What are the two expectations from implementing multi language features in FSC? A. Referrals in Singapore and Hong Kong will be shared in English, but in Macau, referrals will be shared in Portuguese. B. Bankers in Japan have been accessingFSC in Japanese, but the new bankers in China will be accessing FSC in Chinese. C. Leaders in it certification 32 of 106 Practice Exam Salesforce - Financial-Services-Cloud C. In Tokyo branches, the names of the Account, Prospect & Contact are in Japanese, but the package Advisor, Personal Banker, D Relationship Manager, and Client Associate profiles are in English. D. In Seoul, South Korea, the branch managers will be reviewing their FSC dashboards every morning in Korean, while their colleagues in " Shanghai, China, will be doing so in Chinese. Answer: B D Explanation The following expectations are fromimplementing multi language features in FSC: Bankers in Japan have been accessing FSC in Japanese, but the new bankers in China will be accessing FSC in Chinese. This expectation means that FSC supports multiple languages and allows users to choose their preferred language for their user interface and data display. In Seoul, South Korea, the branch managers will be reviewing their FSC dashboards every morning in Korean, while their colleagues in Shanghai, China, will be doing so in Chinese. This expectationmeans that FSC supports multiple languages for reports and dashboards and allows users to view them in their preferred language. Question #:54 The Salesforce Admin wants to make it easier for call center agents to complete some common tasks by setting up flowsand launch them from the Retail Banking Console. What does the Admin have to 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 setassigned to the user. D. To use a Flow, a user must have access to the underlying object and its field Answer: C Question #:55 A commercial loan due diligence process is handled by multiple individuals at Lake Tahoe Bank. Lake 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 possible bottlenecks. What FSC feature can Lake Tahoe Bank use to track this process? A. Workflow Rules/Process Builder B. Action Plans Leaders in it certification 33 of 106 Practice Exam Salesforce - Financial-Services-Cloud 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 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 #:56 What benefits do Flows for Financial Services Cloud offer to support customer onboarding? (Choose Two) A. Flows enable customers to schedule appointments via customer communities, mobile apps. or websites. B. 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. C. Flows systematically capture and visualize important customer Life Events to drive more personalized and need-based engagements. D. Flows enable customers to book appointments with the nght specialist at the right time and place through self-service scheduling E. Flows enable customers to schedule appointments via customer communities, motxie apps. or websites. Answer: B E 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 streamline the customer onboarding process by automating tasks and collecting information in an 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. 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 References: : Salesforce Help Article 3 : Salesforce Help Article 4 Question #:57 Leaders in it certification 34 of 106 Practice Exam Salesforce - Financial-Services-Cloud The Salesforce Administrator at Lake Tahoe Bank is asked at make modifications to the Salesforce org to allow for more than onepeople 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 additionalowners 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 Explanation To model a requirement where more than one personcan 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 #:58 Lake Tahoe Bank has duplicate client records in their current CRM system because they come from a different systems of record. Any changes made in Salesforce should be updated in the source system. What can a Salesforce Administrator do to help bankers get a consolidated view of the individual in the Financial Services Cloud? A. Leverage Financial Services Cloud Relationship Groups to link duplicate client records and create a consolidated view. B. Implement deduplication rules in Salesforce and let the integration handle the updates to the source system. 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 aconstruct 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 Leaders in it certification 35 of 106 Practice Exam Salesforce - Financial-Services-Cloud Relationship Groups to sync data between Salesforce and the source system using external IDs and integration tools. Verified References: : Salesforce Financial Services Cloud Implementation Guide, page 67. QUESTIONNO: 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 anaccurate 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. 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. Answer: B A Primary Group is a construct in Financial ServicesCloud 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. This way, you can get an accurate summary of the client’s financial data regardless of how often they change households. Verified References: : Salesforce Financial Services Cloud Implementation Guide, page 69. Question #:59 The Salesforce Admin at Lake Tahoe Bank is implementing Financial Services Cloud and wants to roll up customerdata at the client and group levels. What functionality can Rollup By Lookup (RBL) provide for this requirement? A. RBL calculations can not be disabled when importing data into your Salesforce org. B. An RBL rule displays summary calculations of financialaccount information, such as account balances. C. When you edit a financial account record or primary Group membership, the Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the client and Group levels. D. Rollups for multiple joint owners are not supported E. Rollup By Lookup (RBL) displays associated records for Financial Accounts. Financial Goals, and Opportunities. Answer: B C E Explanation The functionality that Rollup By Lookup (RBL) can provide for rolling up customer data at the client and group levels are as follows: Leaders in it certification 36 of 106 Practice Exam Salesforce - Financial-Services-Cloud An RBL rule displays summary calculations of financial account information, such as account balances, networth, total assets, total liabilities, and so on1. When you edit a financial account record or primary group membership, the Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the client and group levels1. Rollup By Lookup (RBL) displays associated records for Financial Accounts, Financial Goals, and Opportunities on the client and group pages1. Verified References: 1 Question #:60 Lake Tahoe Bank branch manager is asking the Salesforce Administrator for improvements in Salesforce to speed up Loan Approval Processing. The Salesforce Admin isconsidering using Action Plans. Which 3 process improvements can be delivered using Action Plans? A. Action Plans create repeatable tasks and automate the task sequences when executed B. When you create an action plan from a template for a specific targetrecord, items that have no assigned user are assigned to the owner of that " target record. 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 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 #:61 Financial Services Cloud (FSC) contains a number of custom objects to model a client's financial information, and each object can be configured to appear as tabs in your org. For example, if a consultant wanted to create a financial goal for a customer, they could use the Financial Goal object in FSC. What are three objects in FSC? A. Billing B. Leaders in it certification 37 of 106 Practice Exam Salesforce - Financial-Services-Cloud B. Financial Holding C. Financial Goal D. Inheritance E. Revenue Answer: B C E Explanation Financial Services Cloud contains a number of custom objects to model a client’s financial information, and each object can be configured to appear as tabs in your org. Some of thecustom objects are: Financial Goal: An object that represents a client’s financial objective, such as saving for retirement, buying a house, or paying off debt. A financial goal has fields to store information, such as name, amount, target date, priority,and status. Financial Holding: An object that represents a holding in an investment account, such as a security, a mutual fund, or a bond. A financial holding has fields to store information, such as symbol, shares, price, gain/loss, and market value. Revenue: An object that represents revenue generated from a client’s financial accounts, such as an increase in stock value, a dividend payment, or an interest income. A revenue has fields to store information, such as type, amount, date, and source. References: Financial Services Cloud Associated Objects Learn About the Financial Services Cloud Data Model Question #:62 Lake Tahoe Bank would like to reslricl their Financial Services Cloud users from viewing certain types of milestones that might be irrelevant to their customers or might cause negative sentiment. How can the Salesforce Admin implement such a requirement? 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 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. TheSalesforce Admin can manage sensitive Life Events using Permission Sets. Answer: C Leaders in it certification 38 of 106 Practice Exam Salesforce - Financial-Services-Cloud 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 Lightningcomponent that displays a timeline of life events and business milestones for a client or a group. The Admin can use the Properties pane to customize the component and select which event types to show or hide on the timeline. Question #:63 What capability included in the Financial Services Cloud license can assist bankers in focusing on the most promising referrals? A. Referral Approval Processes B. Intelligent Need-Based Referrals and Scoring C. Einstein Referral Scoring for Financial Services Cloud D. Referral Routing Rules Answer: B Explanation Intelligent Need-Based Referrals and Scoring is a capability that helps bankers prioritize the most promising referrals by assigning a score based on the client’s needs, preferences, and interactions. It alsohelps bankers