Released Salesforce Financial-Services-Cloud Updated Questions PDF
Financial-Services-Cloud Dumps and Practice Test (172 Exam Questions)
Salesforce Financial Services Cloud (FSC) Accredited Professional Certification Exam is designed for professionals who work in the financial services industry and are responsible for implementing and managing the FSC platform. Financial-Services-Cloud exam covers a range of topics related to the FSC platform, including managing financial accounts, managing financial planning, managing client relationships, managing financial goals, and implementing customizations. Financial-Services-Cloud exam is designed to test the candidate's ability to apply their knowledge of the FSC platform to real-world scenarios.
Salesforce Financial-Services-Cloud is a powerful platform that can help financial institutions to improve their operations and increase profitability. The FSC Accredited Professional Exam is an important credential for professionals who work in the financial services industry. By passing the exam, professionals demonstrate their proficiency in using the Salesforce Financial-Services-Cloud to help financial institutions achieve their business goals. With the right preparation and study resources, professionals can increase their chances of passing the exam and earning this valuable credential.
NEW QUESTION # 82
How can the Salesforce Admin help agents who deal with a large number of customers on a daily basis, quickly scan the Life Events component and find the information they need without much effort?
- A. The user can change the color of important life events to red.
- B. The user can customize the order of life events to be set in chronological order
- C. The Admin can change the color of important life events to red.
- D. The Admin can customize the order of life events to be set in chronological order.
Answer: C
Explanation:
Explanation
The Admin can change the color of important life events to red by using custom CSS in a Lightning App Builder theme layout component. This way, the agents can quickly scan the Life Events component and find the information they need without much effort. The color red can draw attention and indicate urgency or importance for certain life events.
NEW QUESTION # 83
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 System Administrator to automate Referral creation in Salesforce. How can the Admin speed up and simplify Referral creation?
- A. Use
- B. Use the Case process and create Cases with Case Type 'Referrar'.
- C. Write a trigger to create Referrals from a 'Create Referral* button.
- D. Use Global Action To create Referrals.
Answer: D
Explanation:
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 their current 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
NEW QUESTION # 84
A company wants to convert its Salesforce Financial Services Cloud implementation from using the individual account model to using person accounts.
Which three things should a consultant do to prepare for the conversion?
- A. Ensure all individual account records to be converted are only linked to exactly one contact record.
- B. Test out the conversion in a sandbox, including all integrations and customizations.
- C. Ensure each account.phone field in the individual account record is blank.
- D. Ensure each individual account to be converted is not a parent account of any other account records.
- E. Update all opportunities linked to individual account records to be owned by the individual account record's owner.
Answer: A,B,D
NEW QUESTION # 85
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 Business Milestone using the Object Manager and add a new picklist value on the Milestone Type Field
- C. Find Person Life Event 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: B
Explanation:
To create a new Business Milestone Type, you need to add a new picklist value on the Milestone Type field of the Business Milestone object. This field is used to categorize the different types of business milestones that can be tracked for a client. Verified Reference: : Salesforce Financial Services Cloud Implementation Guide, page 57.
NEW QUESTION # 86
Does FSC require Lightning?
- A. Yes
- B. No
Answer: A
NEW QUESTION # 87
A System Administrator has received a note from one of the portfolio managers that the Actionable Relationship Center (ARC) is not visible when the portfolio manager was trying to set up relationships between two accounts. The portfolio manager has also mentioned that other colleagues in the same role have access to it and are able to use it to manage their customer's relationships. What is a possible cause for this?
- A. The portfolio manager does not have access to the account records that he is trying to create for.
- B. The portfolio manager has not been given the permissions that enable users to view and manage ARC
- C. The portfolio manager does not have access to the Lightning page that has the ARC component added
- D. The ARC Component has not been added to the page layout
Answer: B
Explanation:
Explanation
A possible cause for why the portfolio manager cannot see ARC when trying to set up relationships between two accounts is that he has not been given the permissions that enable users to view and manage ARC. To access ARC, users need to have certain permissions and settings enabled in their user profile or permission set, such as:
View Setup and Configuration
Customize Application
Manage Custom Permissions
Financial Services Cloud Standard User
Financial Services Cloud Admin If any of these permissions or settings are missing, users may not be able to see or use ARC properly. Verified References: : Salesforce Help Article 5
NEW QUESTION # 88
Which 3 options does the Financial Services Cloud application offer to view and update Account-Account. Account-Contact, and Contact-Contact Relationships?
- A. Life Events Component
- B. Relationship Map
- C. Family Members Component
- D. Group Members Component
- E. Actionable Relationship Center
Answer: B,D,E
Explanation:
The following options are available to view and update Account-Account, Account-Contact, and Contact-Contact Relationships in Financial Services Cloud:
Actionable Relationship Center: This is a Lightning component that displays a list of all the relationships for a client or a group. You can use it to view, create, edit, and delete relationships.
Relationship Map: This is a Lightning component that displays a graphical representation of all the relationships for a client or a group. You can use it to visualize and navigate the relationship network.
Group Members Component: This is a Lightning component that displays a list of all the members of a group. You can use it to view, add, and remove group members. Verified Reference: : Salesforce Financial Services Cloud User Guide, page 34. : Salesforce Financial Services Cloud User Guide, page 36. : Salesforce Financial Services Cloud User Guide, page 38.
NEW QUESTION # 89
Lake Tahoe Bank is rolling out Financial Services Cloud and the VP of IT is concerned about the cost of the licenses. The System Admin recommends using restricted licenses for users that need only limited access to Financial Service Cloud features. Which Financial Services Cloud permission set license enables user access to a license with contractual restrictions for Financial Services Cloud and can be used to grant restricted access to users like Bank Tellers?
- A. Financial Service Cloud Extension
- B. Client Segmentation
- C. Financial Service Cloud Basic
- D. Financial Services Cloud Standard
Answer: C
NEW QUESTION # 90
Not all life events or business milestones apply to every customer. To create a better customer experience, you can hide the life events or business milestones a customer hasn't achieved or is unlikely to achieve in the future.
Which of the following statements are correct?
- A. It is possible to hide Sensitive Life Event or Business Milestone Types in the Insurance Agent Portal.
- B. The option to hide life event types or business milestone types is not available in the Communities version of the Life Events or Business Milestones component.
- C. When you hide a life event or business milestone type, it doesn't appear on the component until you add an event or milestone of that type.
- D. Life Events can not be displayed on the Household level of the Account Record
Answer: A,C
NEW QUESTION # 91
The Salesforce Admin at Lake Tahoe Bank considering implementing Financial Services Cloud. What is the best way for the Admin to access a Financial Services pre-configured org, including data and the right licenses, to learn about the product?
- A. Spin up a Salesforce sandbox org.
- B. Request a 30-day Financial Services Cloud trial org
- C. Purchase one license of Financial Services Cloud and install it in a production org.
- D. Request a Salesforce developer org.
Answer: B
Explanation:
Explanation
The best way for the Admin to access a Financial Services Cloud pre-configured org, including data and the right licenses, to learn about the product is to request a 30-day Financial Services Cloud trial org. You can sign up for the 30-day trial using this form 4. You get preconfigured and preloaded sample data so you can start playing around in your new org right away. Once you're done testing it out, you can transition your trial org to a production org with the help of your account executive or solution engineer. Verified References: : Trailhead Module 5
NEW QUESTION # 92
Our Personal Banker Hank Burton wants to encourage his customers to provide required documents for a loan application. He creates Document Checklist Items that help his customers to manage file uploads to speed up loan approval. For which of the following records does Salesforce support Document Checklist Items out of the box?
- A. Account
- B. Lead
- C. Opportunity
- D. Residential Loan Application
- E. Contact
Answer: B,C,E
NEW QUESTION # 93
A consultant is configuring a demo for a customer but cannot create new residential loan application records.
What is prohibiting the consultant from creating a new residential loan application?
- A. The user does not have "Mortgage User" checked in their user record.
- B. The administrator did not enable "Allow Mortgage Access" in Setup.
- C. The Residential Loan Application flow was not enabled in the setup.
- D. The administrator did not assign the Mortgage permission set to the user.
Answer: D
Explanation:
Explanation
The administrator did not assign the Mortgage permission set to the user. The Mortgage permission set is required to access the Residential Loan Application object and its related objects, such as Loan Application Form, Loan Assessment, and Loan Product. Without this permission set, the user cannot create, edit, or view residential loan application records. The administrator can assign the Mortgage permission set to the user from the user detail page in Setup. References: [Mortgage Permission Set], [Residential Loan Application Object]
NEW QUESTION # 94
Which of the following would be considered a Junction Object in Salesforce?
- A. A custom object that contains a lookup field to a standard object
- B. A many-to-many relationship created with two lookup relationships
- C. A many-to-many relationship created with two master-detail relationship
- D. Two standard objects that have lookup relationship with each other
Answer: C
NEW QUESTION # 95
A consultant is looking to create a guided screen to be used by customer service agents answering the phone to authenticate the caller and positively identify them. The agent will ask the caller to provide their full name and the last four digits of their social security number, which is not stored in Salesforce. The agent will enter the provided information into a form, and upon clicking submit, a web service call is made to an external authentication service to authenticate the caller.
What should the consultant do to fulfill the needed requirements?
- A. Create an OmniScript flow.
- B. Create a Lightning web component.
- C. Create a Canvas application for the Authentication module.
- D. Create a screen flow.
Answer: D
Explanation:
Explanation
A screen flow is a type of flow that guides users through a series of screens to complete a task or collect information2. Screen flows can also interact with external systems using Apex actions or invocable actions3.
In this case, the consultant can create a screen flow that collects the caller's name and social security number from the agent, and then invokes an Apex action or an invocable action that makes a web service call to an external authentication service.
NEW QUESTION # 96
A system administrator at Universal Containers needs to transfer records from one user to another.
What object can be transferred using the mass transfer tool? (2 answers)
- A. Quotas
- B. Accounts
- C. Campaigns
- D. Leads
Answer: B,D
NEW QUESTION # 97
Which 3 out of the box capabilities come with Financial Services Cloud Lead & Referral Management?
- A. Accepting a Referral
- B. Referral Automated Approvals
- C. Referral Conversion
- D. Assigning a Referral
- E. Round Robin Referral Routing
Answer: A,C,D
Explanation:
Explanation
The following out of the box capabilities come with Financial Services Cloud Lead & Referral Management:
Referral Conversion: This capability allows you to convert a referral to an opportunity, a contact, or an account. You can use this capability to track the progress and outcome of a referral and measure its impact on your business.
Assigning a Referral: This capability allows you to assign a referral to another user, queue, or line of business. You can use this capability to route a referral to the appropriate person or team who can best meet the customer's need or interest.
Accepting a Referral: This capability allows you to accept a referral that is assigned to you or your queue. You can use this capability to acknowledge that you have received a referral and are ready to work on it. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 3 : Salesforce Help Article 5
NEW QUESTION # 98
If a client is associated with more than one Household or Group, where will this clients records get rolled up to?
- A. to the household with the client's primary address
- B. to the household selected by the advisor for record rollups.
- C. to all the parent households and groups
- D. to the Household where the client is the primary member
Answer: B
Explanation:
If a client is associated with more than one Household or Group, their records will get rolled up to the household selected by the advisor for record rollups. A Household or Group is a construct in Financial Services Cloud that allows you to group related accounts together and view their aggregated financial data and activities. A client can belong to multiple Households or Groups, but only one of them can be selected as their primary Group for record rollups. The primary Group determines which Household or Group will display the client's records in its summary components or related lists. The advisor can select or change the primary Group for a client using the Primary Group field on the client's record page. Verified Reference: : Salesforce Help Article 6
NEW QUESTION # 99
Universal containers set the organization-wide defaults for cases to private. When a case is escalated, case ownership changes to Tier 2 support agent.
How can a system administrator give the sales operation team read/write access to all escalated cases?
- A. Create an ownership-based sharing rule.
- B. Create a case assignment rule.
- C. Create a case escalation rule.
- D. Create a criteria-based sharing rule.
Answer: D
NEW QUESTION # 100
Planter Farm Credit Union provides loan and insurance products to farmers who operate individually as well as in collaboration with other neighboring farms & farmers. The collaboration can be seasonal or for a limited timeframe. What construct in Financial Services Cloud is most appropriate to represent such collaborative customer business operations?
- A. Custom Relationship Group
- B. Account with Record Type = Business
- C. Contact-Contact Relationship
- D. Standard Household
Answer: A
NEW QUESTION # 101
Lakeshore Lending Company wants to create a community so borrowers can fill out their mortgage application online. Which template should they use?
- A. FSC Client Portal Template
- B. Customer Service Template
- C. Help Center Client Template
- D. Mortgage Portal Template
- E. Mortgage Application Community Template
Answer: D
NEW QUESTION # 102
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. Flows
- B. Workflow Rules/Process Builder
- C. Action Plans
- D. Apex Tnggers on the task object
Answer: C
NEW QUESTION # 103
A user at Universal container reports an error message when attempting to log in. the administrator checks the user's login history, but there is no record of the attempted login.
What could be cause of this issue?
- A. The user is attempting to log in outside of the profile IP
- B. The user is attempting to log in outside of the profile login range
- C. The user is attempting to log in with wrong password
- D. The user is attempting to log in with wrong username
Answer: D
NEW QUESTION # 104
How are identification documents, other assets, liabilities, goals, and revenue modeled, in an existing Financial Services Cloud org using the individual account model?
- A. Document, Note, and Attachment objects are used to represent other assets, liabilities, and goals. In the individual model, these objects are related to the person account.
- B. Assuming there are no other issues, what should happen when the administrator uploads the import file?
The Attachment object is used to represent other assets, liabilities, and goals. In the individual model, these attachments are related to the Account object. - C. An administrator is logged in to Data Loader with their own credentials to insert new Business Account records into their Salesforce environment. They forget to specify the Account Owner field in the import file.
- D. Custom obiects are used to represent other assets, liabilities, and goals. In the individual model, these objects are related to the Account oJ Nj.
Answer: B
Explanation:
In an existing Financial Services Cloud org using the individual account model, custom objects are used to represent other assets, liabilities, and goals. These objects are related to the Account object via lookup relationships. For example:
The Other Asset object is used to represent non-financial assets owned by an account holder, such as real estate properties, vehicles, or jewelry.
The Other Liability object is used to represent non-financial liabilities owed by an account holder, such as mortgages, loans, or taxes.
The Financial Goal object is used to represent financial objectives pursued by an account holder, such as retirement planning, education funding, or debt reduction. Verified Reference: : Salesforce Help Article [10] : Salesforce Help Article [11] : Salesforce Help Article [12]
NEW QUESTION # 105
Lake Tahoe Bank has branch offices in many countries around the world and they are planning to roll out Financial Services Cloud. Which of the 2 considerations does the Salesforce Admin have to keep in mind when it comes to dealing with multiple currencies?
- A. When filtering by currency values in reports or list views, users must specify a currency ISO code, such as USO or GBP. before the value.
- B. When multicurrency is enabled in FSC. advanced currency management is also available
- C. For each user, the user currency must correspond to the default currency for the user's locale
- D. The Salesforce Admin can enable or disable multiple currencies if needed
Answer: A,B
Explanation:
Explanation
Multicurrency is a feature in Salesforce that allows you to work with multiple currencies in your org. If you enable multicurrency in FSC, you need to consider the following:
When filtering by currency values in reports or list views, users must specify a currency ISO code, such as USD or GBP, before the value. For example, USD500 or GBP300.
When multicurrency is enabled in FSC, advanced currency management is also available. This feature allows you to track historical exchange rates and apply them to opportunities and forecasts.
NEW QUESTION # 106
How should developers configure customized nodes for display in Actionable Relationship Center (ARC)?
- A. Reference the FlexCard in the Display properties of the custom ARC relationship graph.
- B. Select Use FlexCard from the node Display tab to show the node in a FlexCar
- C. Reference the Lightning web component in the Display properties of the custom ARC relationship graph.
- D. Select OmniScript from the node Actions tab U^jhow the node in an OmniScript.
Answer: A
Explanation:
To configure customized nodes for display in Actionable Relationship Center (ARC), developers should reference the FlexCard in the Display properties of the custom ARC relationship graph. A FlexCard is a tool that allows users to create custom user interfaces for displaying data from Salesforce or external systems using OmniScripts and Integration Procedures. A custom ARC relationship graph is a metadata type that defines the nodes and edges of a custom relationship graph for ARC. By referencing the FlexCard in the Display properties of the custom ARC relationship graph, developers can customize the look and feel of the nodes and display data from various sources on them.
NEW QUESTION # 107
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