[UPDATED] Salesforce Financial-Services-Cloud Certification Exam Questions
Quickly and Easily Pass Salesforce Exam with Financial-Services-Cloud real Dumps
Salesforce Financial-Services-Cloud (FSC) Accredited Professional Certification Exam is a certification program that validates professionals' expertise in financial management and customer relationship management using the Salesforce platform. Salesforce Financial Services Cloud (FSC) Accredited Professional certification exam is designed for consultants, developers, administrators, and architects who work with financial institutions, insurance companies, wealth management firms, and other financial services providers.
NEW QUESTION # 62
A client has called their Financial Advisor to open an Education Savings Account for their first child. What 2 steps should the Financial Advisor take in the Financial Services Cloud App to capture that information?
- A. Create a case and include the target Savings amount for the Education Savings Account and relate the case to the child's Person Account.
- B. Create a Life Event for the birth of the child and a Financial Goal for the Education Savings Account
- C. Create a Life Event for the birth of the child and a Referral for the Education Savings Account
- D. Create two Life Events, one for the birth of the child and one for the Education Savings Account.
- E. Create a Referral for the Banker for an Education Savings Account
Answer: B,C
Explanation:
Explanation
The following steps should be taken by the Financial Advisor in Financial Services Cloud App to capture the information about opening an Education Savings Account for their client's first child:
Create a Life Event for the birth of the child and a Referral for the Education Savings Account. A Life Event is a construct in Financial Services Cloud that allows you to track significant events in your client's life that may affect their financial needs or goals. You can use Life Events to create a record for the birth of the child and link it to the client's account. A Referral is a construct in Financial Services Cloud that allows you to capture a customer need or interest and assign it to another advisor or line of business. You can use Referrals to create a record for the Education Savings Account and route it to the appropriate banker.
Create a Life Event for the birth of the child and a Financial Goal for the Education Savings Account. A Financial Goal is a construct in Financial Services Cloud that allows you to track your client's financial objectives and measure their progress towards achieving them. You can use Financial Goals to create a record for the Education Savings Account and associate it with the client's account and financial accounts. Verified References: : Salesforce Financial Services Cloud User Guide, page 29. : Salesforce Financial Services Cloud User Guide, page 30. : Salesforce Financial Services Cloud User Guide, page
33.
NEW QUESTION # 63
Which of the following would be considered a Junction Object in Salesforce?
- A. Two standard objects that have lookup relationship with each other
- B. A custom object that contains a lookup field to a standard object
- C. A many-to-many relationship created with two lookup relationships
- D. A many-to-many relationship created with two master-detail relationship
Answer: D
NEW QUESTION # 64
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 multicurrency is enabled in FSC. advanced currency management is also available
- B. The Salesforce Admin can enable or disable multiple currencies if needed
- C. When filtering by currency values in reports or list views, users must specify a currency ISO code, such as USO or GBP. before the value.
- D. For each user, the user currency must correspond to the default currency for the user's locale
Answer: A,C
NEW QUESTION # 65
A large insurance company hired a consulting firm to improve customer experiences for customers that want to complete standard processes online, such as getting an insurance quote or submitting a claim.
Which three standard Insurance Platform components can digitally enable these core insurance operations?
- A. Quote, Rate, and Apply
- B. Claims Management
- C. Policy Administration
- D. Quote Creathqn Toolbox
- E. MobileClaimSubmission
Answer: A,B,C
Explanation:
Explanation
The following standard Insurance Platform components can digitally enable the core insurance operations of getting an insurance quote or submitting a claim:
Policy Administration, which is a component that allows users to manage the lifecycle of insurance policies, such as creating, renewing, canceling, or endorsing policies. By using Policy Administration, the consulting firm can enable customers to view and update their policy information online.
Claims Management, which is a component that allows users to manage the lifecycle of insurance claims, such as creating, investigating, adjusting, or settling claims. By using Claims Management, the consulting firm can enable customers to submit and track their claims online.
Quote, Rate, and Apply, which is a component that allows users to create and compare insurance quotes, calculate premiums and discounts, and apply for policies online. By using Quote, Rate, and Apply, the consulting firm can enable customers to get an insurance quote online
NEW QUESTION # 66
The Salesforce Admin at Lake Tahoe Bank considering implementing Financial Services Cloud. What is thebest way 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 Salesforce developer org.
- B. Purchase one license of Financial Services Cloud and install it in a production org.
- C. Request a 30-day Financial Services Cloud trial org
- D. Spin up a Salesforce sandbox org.
Answer: C
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
NEW QUESTION # 67
Universal Containers requires that the organization-wide default for opportunities be set to public read/write. However, sales users are complaining that opportunity reports return too many results, making it difficult to find their team's opportunities in the report results.
How can the system administrator address this problem?
- A. Move the opportunity reports into a folder with restricted access
- B. Use the show filter to filter report results and reduce records returned
- C. Update the sharing rules to limit user access to certain opportunity
- D. Move the opportunity reports into each user's personal reports
Answer: B
NEW QUESTION # 68
To access Financial Services Cloud Lightning Components "My Domain" must be enabled. How does the System Admin accomplish this?
- A. Enable Communities
- B. Go to Custom Settings and edit the Industries Settings
- C. Register a subdomam using the My Domain wizard and then deploy it
- D. Open a case with Salesforce Support
Answer: C
NEW QUESTION # 69
Jen, the Financial Advisor at Lake Tahoe Wealth Management Company wants to modify a published Action Plan to support an additional task she needs in order to complete an annual review for a client. How should Jen do this?
- A. Use the 'task creator' tool to create a new task and associate with the existing Action Plan
- B. Use the Action Plan item feature to add an additional task to a published Action Plan.
- C. Create an independent Task not related to original Action Plan
- D. Contact her Salesforce Administrator and get her to make the change to the Action Plan for her.
Answer: B
NEW QUESTION # 70
Acorporate investment banking associate at Cumulus Capital works with a trusted analyst to create pitch books, analyze market data, and generate reports. The banking associate is looking to capture sensitive deal information in Salesforce. They wish to share the deal information with the trustedanalyst only, without giving access to Salesforce users up the management chain in the Role Hierarchy.
What should a consultant do in Salesforce to build the required sharing model for sensitive deal data?
- A. Use the Financial Deal object to captu^* y^ deal data anc* use Compliant Data Sharing to grant the analyst access.
- B. Use the Financial Deal object to capture the deal data and use restriction rules to block user access above the banking associate in the Role Hierarchy.
- C. Use the Opportunity object to capture the deal data and use Compliant Data Sharing to grant the analyst access.
- D. Use the Opportunity object to capture the deal data and use manual sharing to grant the analyst access.
Answer: B
Explanation:
To build the required sharing model for sensitive deal data, the consultant should use the Financial Deal object to capture the deal data and use restriction rules to block user access above the banking associate in the Role Hierarchy. The Financial Deal object is a custom object in Financial Services Cloud that allows you to track and manage complex deals that involve multiple parties, products, and stages. You can use the Financial Deal object to store sensitive deal information, such as deal name, amount, status, or participants. You can also use restriction rules to limit the visibility of Financial Deal records based on criteria such as role, profile, or ownership. Restriction rules can override the organization-wide default sharing settings and block user access torecords that they would otherwise be able to see through the Role Hierarchy or other sharing mechanisms. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2
NEW QUESTION # 71
The Salesforce Admin at Lake Tahoe Wealth Management Company wants to ensure that the advisors at his firm can quickly see the most important client data in the Actionable Relationship Center (ARC). What must the Admin configure for each object to display the most important fields on the side panel of ARC?
- A. Field Sets
- B. Lightning Record Pages
- C. Search Layout
- D. Compact Layout
- E. Page Layout
Answer: D
Explanation:
Explanation
To display the most important fields on the side panel of ARC, the Admin must configure the Compact Layout for each object. The Compact Layout is a layout that determines which fields appear in key places in Salesforce such as record highlights areas, list views, lookup dialogs, and global search results. The Admin can use the Compact Layout to select up to 10 fields that are most relevant for each object and display them on the side panel of ARC
NEW QUESTION # 72
The Actionable Relationship Center can display which of the following relationships in the tree pane? Select 3 answers.
- A. Any Related List for the selected object record
- B. Account-Contact Relationships
- C. Account-Account Relationships
- D. Up to 5 Related Lists for an Account Record
- E. Up to 5 Related Lists for a non-Account Record
Answer: C,D,E
NEW QUESTION # 73
Cumulus Cloud Bank is asking the consultant to explain some tools available to integrate Salesforce into several of its back-end/core systems.
Which three capabilities should a consultant recommend?
- A. Data Consumption Framework
- B. OmniStudio Integration Procedures
- C. Industry Integration Solutions with the MuleSoft Anypoint Platform
- D. OmniStudio DataRaptors
- E. Data Processing Engine
Answer: B,C,D
Explanation:
Salesforce offers various tools and capabilities to integrate Financial Services Cloud with external systems, such as core banking, insurance, or mortgage platforms. Some of the toolsand capabilities that a consultant can recommend are:
Industry Integration Solutions with the MuleSoft Anypoint Platform: These are prebuilt integration solutions that leveragethe MuleSoft Anypoint Platform to connect Financial Services Cloud with common industry systems, such as Fiserv, FIS, Jack Henry, and Guidewire1. These solutions enable bi-directional data synchronization, orchestration, and transformation between Salesforce and theexternal systems2.
OmniStudio Integration Procedures: These are reusable components that define the logic and sequence of steps for integrating datafrom external sources into Financial Services Cloud3. Integration procedures canbe triggered by events, such as a button click or a record update, and can invoke other components, such as DataRaptors or OmniScripts4.
OmniStudio DataRaptors: These are data transformation components that can extract, load, and manipulate data from various sources, such as Salesforce objects, REST orSOAP web services, or CSV files5. DataRaptors can be used to map data between different formats, perform calculations or validations, or create or updaterecords in Financial Services Cloud6.
References:
Industry Integration Solutions
MuleSoft Anypoint Platform
OmniStudio IntegrationProcedures
Create an Integration Procedure
OmniStudio DataRaptors
Create a DataRaptor
NEW QUESTION # 74
Which three types of Account-Account relationships are displayed in the Actionable Relationship Center?
- A. Accounts & Businesses
- B. Accounts & Peers
- C. Accounts & Groups
- D. Accounts & Members
Answer: A,B,C
Explanation:
The following types of Account-Account relationships are displayed in the Actionable Relationship Center (ARC):
Accounts & Businesses: This type of relationship shows the accounts that are related to a business account, such as owners, partners, or beneficiaries. You can use this type of relationship to understand the ownershipstructure and financial interests of a business account.
Accounts & Peers: This type of relationship shows the accounts that are related to another account by a peer- to-peer relationship, such as friends, colleagues, or associates. You can use this type ofrelationship to identify potential referrals and cross-selling opportunities from an account's network.
Accounts & Groups: This type of relationship shows the accounts that are related to a group account, such as household members, trust members, or business group members. You can use this type of relationship to view the aggregated financial data and activities of a groupaccount. Verified References: : Salesforce Help Article 2 : Salesforce Help Article 3 : SalesforceHelp Article 4
NEW QUESTION # 75
Which three related lists are visible within Actionable Relationship Center associated with the Account object?
- A. Client Financial Goals
- B. Notes and Attachments
- C. Cases
- D. Household Financial Accounts
- E. Financial Holdings
Answer: A,D,E
Explanation:
The following related lists are visible within Actionable Relationship Center (ARC) associated with the Account object:
Client Financial Goals, which is a related list that displays the financial goals of the account, such as retirement, education, or debt payoff.
Financial Holdings, which is a related list that displays the financial accounts of the account, such as bank accounts, investment accounts, or insurance policies.
Household Financial Accounts, which is a related list that displays the financial accounts of the account's primary group, such as household or business group.
NEW QUESTION # 76
Which circumstances will prevent a system administrator from deleting a custom field?
- A. The field is part of a field dependency.
- B. The field is used in a page layout.
- C. The field is used in a report.
- D. The field is used in a workflow field update.
Answer: D
NEW QUESTION # 77
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