Salesforce Financial-Services-Cloud Test Engine Practice Test Questions, Exam Dumps
100% Free Financial-Services-Cloud Daily Practice Exam With 172 Questions
Salesforce Financial Services Cloud (FSC) Accredited Professional Certification Exam is a rigorous exam that tests the candidates' knowledge of the FSC platform, their understanding of the financial services industry, and their ability to apply best practices to solve real-world problems. Financial-Services-Cloud exam covers a wide range of topics, including data modeling, automation, analytics, and security, as well as industry-specific regulations, such as GDPR and FINRA. Passing Financial-Services-Cloud exam requires a deep understanding of the FSC platform, as well as a thorough knowledge of the financial services industry and its unique challenges.
NEW QUESTION # 76
Which three standard fields are available to track a customer's retirement gial progress?
- A. Actual value
- B. Target value
- C. Target Date
- D. Total Value
- E. Contributions
Answer: A,B,C
NEW QUESTION # 77
What should an administrator consider when setting up case feed?
- A. Case feed replaces the standard case detail page by default
- B. Case feed requires the Service Cloud User feature license
- C. The Use Case Feed permission is automatically active for all profiles
- D. Chatter Feed tracking must be enabled for the case object.
Answer: D
NEW QUESTION # 78
A financial services company wants to track different categories of financial accounts in its org. Relationship managers must be able to see 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?
- A. Create Account lookup fields on the Financial Account object to link the Financial Accounts to an Account.
- B. Configure Financial Account record types to match the required categories.
- C. Create a custom picklist on the Financial Account object totrack the Typ
- D. Configure the Financial Account List components for each required category.
- E. Add the Financial Account List component to the Account Lightning record page.
Answer: A,C,D
Explanation:
The following considerations should be included when configuring the report with branch management reportable objects:
Bankers with Branches withOpportunities, Accounts, Leads, and Contacts report types are available for creating reports with Branch Unit Related Records. These are standard report types that allow users to create reports that show data from Banker, Branch Unit, Opportunity, Account,Lead, Contact, and Branch Unit Related Record objects.
The reportable objects include Banker, Branch Unit, Branch Unit Related Records, and Branch Unit Customer. These are custom objects that are part of the branch management feature in Financial ServicesCloud. Banker is an object that represents a banker or an employee who works at a branch unit.
Branch Unit is an object that represents a physical location where bankers provide services to customers.
Branch Unit Related Record is an object that represents a record that is related to a branch unit, such as an opportunity, an account, a lead, or a contact. Branch Unit Customer is an object that represents a customer who has a relationship with a branch unit.
When Branch Unit is the primary object, the administrator can select Branch Unit Customers or Branch Unit Related Records as related objects. This means that the administrator can create reports that show data from Branch Unit and its related objects by using lookup fields or junction objects.
NEW QUESTION # 79
What should an administrator consider when configuring workflow rules? (2 answers)
- A. All existing records are evaluated when a new rule is activated
- B. Rules can be evaluated when records are created or edited
- C. Rules must be deactivated before using an import wizard
- D. Rule actions can take place immediately or on a specific date
Answer: B,D
NEW QUESTION # 80
What capability included in the Financial Services Cloud license can assist bankers in focusing on the most promising referrals?
- A. Intelligent Need-Based Referrals and Scoring
- B. Referral Routing Rules
- C. Einstein Referral Scoring for Financial Services Cloud
- D. Referral Approval Processes
Answer: A
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 also helps bankers route referrals to the best suited specialists or advisors.
NEW QUESTION # 81
An insurance company needs to ensure the record rollups aggregate information from related records for several objects in the Financial Services Cloud at a client orgroup level.
What should the administrator configure to meet the requirement?
- A. To show all Primary Group member cases on a related list at the group level, the administrator should add Cases as a picklist value to the Rollup__c field on Account Contact Relationship.
- B. When the administrator enables record rollups at the group level, all corresponding records are stamped with the Primary Group in the Rallup_c lookup field
- C. Client-level records are aggregated by setting up client-level rollups to all primary group members.
- D. To show all Primary Group member opportunities on a related list at the group level, the administrator should add Opportunities as a picklist value to the Household__c field on Account Contact Relationship.
Answer: B
Explanation:
According to the Salesforce documentation1, record rollups at the group level allow you to aggregate information from related records for several objects in Financial Services Cloud. When you enable record rollups at the group level, all correspondingrecords are stamped with the Primary Group in the Rollup__c lookup field. This field is added to the Account, Contact, Account Contact Relationship, and Financial Account objects. You can then use this field to create reports and dashboards that show aggregated data for each group.
NEW QUESTION # 82
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 between the Adams Household and the attorney.
- B. Create an Account-Account relationship between the Adams Household and the attorney
- C. Create an Account-Account Relationship between the Addams Family Trust and the attorney.
- D. Create a Contact-Contact Relationships between the primary member of the Adams Household and the attorney.
Answer: D
Explanation:
To create a relationship between Rachel and her attorney before assigning the reciprocal role of "Attorney", the Wealth Advisor should create a Contact-Contact Relationship between the primary member of the Adams Household and the attorney. A Contact-Contact Relationship is a junction object that links two contacts or individuals and defines their relationship with each other2. By using Contact-Contact Relationship, the Wealth Advisor can capture Rachel's extended network of relationships with people outside of her household. Verified Reference: 2
NEW QUESTION # 83
What functionality is included in the Financial Services Cloud Extension license? (2 correct answers)
- A. It enables user access to Download Analytics Data and Install Analytics Templated Apps
- B. It enables user access to the Action Plans feature
- C. It enables user to configure Compliant Data Sharing
- D. It enables user access to the Actionable Relationship Center Lightning component
Answer: C,D
NEW QUESTION # 84
Which field settings can you control in the Page Layout Editor? (3 answers)
- A. Read only
- B. Controlling
- C. Required
- D. Dependent
- E. Visible
Answer: A,C,E
NEW QUESTION # 85
A financial services company would like its users to be able to relate two business accounts. What should the administrator configure to meet the requirement?
- A. Create a new Contact Reciprocal Role for the required value.
- B. Update the Role picklist on the Account-Account Relationship object with new value.
- C. Create a new Account Reciprocal Role for the required value.
- D. Update the Role picklist on the Account-(?ontact Relationship object with new value.
Answer: B
Explanation:
Explanation
To configure Financial Services Cloud to allow users to relate two business accounts, the administrator should update the Role picklist on the Account-Account Relationship object with new value. The Role picklist is a field on the Account-Account Relationship object that defines the type of relationship between two accounts, such as Household Member, Business Owner, Trustee, or Friend. The Role picklist is used to filter and display the account-account relationships in the Actionable Relationship Center (ARC). To update the Role picklist, you need to go to Setup > Object Manager > Account-Account Relationship > Fields & Relationships > Role and add or remove values according to your business needs. Verified References: : Salesforce Help Article
[10] : Salesforce Help Article [11]
NEW QUESTION # 86
A wealth management division manages the financial assets of many wealthy clients.
Which three steps should the Financial Services Cloud consultant take to offer a high level of customization to boost user productivity?
- A. Assign the Custom Field Set to the Financial Summary component.
- B. Create a new type of person account so trust group details roll down to the beneficiaries level.
- C. Assign the Custom Field Set To a Lightning component.
- D. Create a Custom Field Set solely for the Wealth Managers without affecting the Investment Bankers.
- E. Create and assign the Cuslhm Field Set permission set to all users.
Answer: A,C,D
Explanation:
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 in Financial 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 going to 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 use the 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 Summary component by using the Lightning App Builder and selecting the Custom Field Set from the Component 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
NEW QUESTION # 87
Which three permission sets grant access or extend permissionsfor record alerts in Financial Services Cloud (FSC)?
- A. OmniStudio Admin permission set
- B. FSC Standard permission set
- C. FSC Foundations permission set
- D. FSC Basic permission set
- E. OmniStudio User permission set
Answer: B,C,E
Explanation:
Record alerts are a feature of Financial Services Cloud that let users create and display alerts on record pages to highlight important information or actions. Record alerts are based on OmniStudio, a low-code platform for building digital experiences in Salesforce.To access or extend permissions for record alerts in Financial Services Cloud, users need to have one of the following permission sets:
FSC Standard permission set: This permission set grants access to the core features of Financial Services Cloud, including record alerts. Users with this permission set can view and create record alerts on supported objects, such as accounts, contacts, financial accounts, and opportunities1.
FSC Foundations permission set: This permission set grants access to the common features of Financial Services Cloud that are shared across subverticals, such as retail banking, wealth management, and insurance. Users withthis permission set can view and create record alerts on supported objects2.
OmniStudio User permission set: This permission set grants access to the OmniStudio features, such as OmniScripts, DataRaptors, Integration Procedures, and Record Alerts. Users with this permission set can view and create record alerts on any object that has the Record Alert component enabled3.
References:
FSC Standard Permission Set
FSC Foundations Permission Set
OmniStudio User Permission Set
NEW QUESTION # 88
Which two limitations should a Salesforce Administrator consider before enabling Person Accounts?
- A. Creating a client record via Salesforce Inbox is not supported.
- B. Person Accounts cannot be disabled once they were enabled
- C. Person Accounts can be enabled and disabled only by contacting Salesforce Support
- D. AppExchange packages will not work if Person Accounts are enabled
Answer: A,B
Explanation:
Explanation
The following limitations should be considered before enabling Person Accounts in Financial Services Cloud:
Person Accounts cannot be disabled once they were enabled. Enabling Person Accounts is an 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 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 References: : Salesforce Help Article 4 :
Salesforce Help Article 5
NEW QUESTION # 89
What steps does the Salesforce Administrator have to take to create a new Business Milestone Type?
- A. In the Lightning Page Editor add the new Milestone Type to the Life Events & Business Milestones Lightning component
- B. Find Person Life Event using the Object Manager and add a new picklist value on the Milestone Type Field.
- C. Find Business Milestone using the Object Manager and add a new picklist value on the Milestone Type Field
- D. In the Object Manager go to the Business Milestone object and create a new field using the name of the new milestone.
Answer: A
NEW QUESTION # 90
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. Create custom components to provide a single view of the client.
- C. Implement deduplication rules in Salesforce and let the integration handle the updates to the source system.
- D. Link individuals using related contacts to link duplicate client records
- E. Create a custom Person Account hierarchy 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 system using external IDs and integration tools. Verified References: : Salesforce Financial Services Cloud Implementation Guide, page 67.
NEW QUESTION # 91
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. Create lookup fields on the Financial Account object to support additional owners
- B. Map additional owners using the Actionable Relationship Center.
- C. Map additional owners using the Financial Account Role.
- D. Map the primary owner and one joint owner to the Financial Account, because FSC, supports only two joint account owners.
Answer: C
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.
NEW QUESTION # 92
Universal Containers uses a custom field on the account object to capture the account credit status. The sales team wants to display the account credit status on opportunities.
Which feature should a system administrator use to meet the requirements?
- A. Look-up Field
- B. Cross-object formula field
- C. Roll-up summary field
- D. Workflow field update
Answer: B
NEW QUESTION # 93
How can the Salesforce Administrator make sure that highly sensitive Life Events or Business Milestones will not be shown until the event actually happened?
- A. Remove the Event or Milestone from the Lightning Component in the Developer Console.
- B. Life Events are part of the FSC managed package, therefore the Salesforce Admin must contact Salesforce Support to remove the Event from the Lightning Component.
- C. Delete the value from the Event Type picklist on the Life Event Object or the Milestone type on the Business Milestone object
- D. Hide the Event or Milestone on the Events & Business Milestones Lightning Component page properties.
Answer: D
Explanation:
Explanation
To hide highly sensitive Life Events or Business Milestones until they happen, the Admin can hide them on the Events & Business Milestones Lightning Component page properties. The Events & Business Milestones Lightning Component is a component that displays a timeline of life events and business milestones for a client or a group. The Admin can use the page properties to customize the component and select which event types or milestone types to show or hide on the timeline2. Verified References: 2
NEW QUESTION # 94
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