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Salesforce Financial Services Cloud (FSC) Accredited Professional Exam is a certification program designed for professionals who want to demonstrate their expertise in Salesforce FSC. Financial-Services-Cloud exam is ideal for individuals who are working in the financial industry and want to enhance their knowledge and skills in managing financial services through Salesforce. Salesforce Financial Services Cloud (FSC) Accredited Professional certification program covers various topics related to FSC, including client management, financial account management, and financial planning.
Salesforce Financial Services Cloud (FSC) Accredited Professional Exam is a certification program designed for individuals who have a deep understanding of the Salesforce Financial Services Cloud platform. Financial-Services-Cloud exam is intended for professionals who want to demonstrate their expertise in using Salesforce's cloud-based platform to manage financial services.
Salesforce Financial Services Cloud (FSC) Accredited Professional Exam is designed to test the knowledge and skills of professionals who work with Salesforce's financial services cloud. Financial-Services-Cloud exam covers a range of topics, including advanced client management, financial planning, and regulatory compliance. Passing the exam demonstrates a deep understanding of Salesforce's FSC platform and the ability to use it effectively to drive business results.
NEW QUESTION # 38
Lake Tahoe Bank's financial advisors are complaining that they can't see an accurate summary of their clients financial data as clients often change households. How can an Admin set up Financial Services Cloud to provide financial advisors with an accurate summary of their client's financial data?
- A. Create a custom obiect to track client's financial data
- B. Set clients financial data to be rolled up using Financial Services Cloud Primary Group.
- C. Use Process Builder to create a workflow to summarize data at the Person Account level.
- D. 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.
Answer: B
Explanation:
Explanation
A Primary Group is a construct in Financial Services Cloud that allows you to define the main group for a client. You can use Primary Group to roll up financial data from all the financial accounts that are related to the client or the group. 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.
NEW QUESTION # 39
What setting is controlled by a user's profile? (3 answers)
- A. Record type assignment
- B. Assigned apps
- C. Field level security
- D. Locale settings
- E. Feature license assignment
Answer: A,B,C
NEW QUESTION # 40
Which three of these statements are true for Rollup By Lookup (RBL) in Financial Services Cloud?
- A. RBL rules do not require a lot of processing power.
- B. The Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the diem and group levels
- C. An RBL (Rollup By Lookup) rule displays summary calculations of financial account information, such as account balances.
- D. Salesforce does not recommend or provide support for creation or customization of Financial Services Cloud RBL rules
- E. Person Accounts need to be enabled in order to use the Rollup by Lookup functionality.
Answer: B,C,D
Explanation:
Explanation
The following statements are true for Rollup By Lookup (RBL) in Financial Services Cloud:
An RBL (Rollup By Lookup) rule displays summary calculations of financial account information, such as account balances. You can use RBL rules to aggregate financial account data across different levels of client relationships.
The Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the diem and group levels. You can use RBL configuration to define which fields are rolled up and how they are calculated for each diem and group type.
Salesforce does not recommend or provide support for creation or customization of Financial Services Cloud RBL rules. RBL rules are complex and require extensive testing and validation. If you need to create or customize RBL rules, you should contact a certified Salesforce partner or consultant. Verified References: : Salesforce Financial Services Cloud Implementation Guide, page 75. : Salesforce Financial Services Cloud Implementation Guide, page 76. : Salesforce Financial Services Cloud Implementation Guide, page 77.
NEW QUESTION # 41
How should developers configure customized nodes for display in ARC?
- A. Reference the Lightning WebComponent in the Display properties of the custom ARC relationship graph
- B. Select Use LWC from the node Display tab to show the node in a Lightning Web Component
- C. Select Use FlexCard from the node Display tab to show the node in a FlexCard
- D. Reference the FlexCard in the Display properties of the custom ARC relationship graph
Answer: A
Explanation:
To configure customized nodes for display in ARC, developers should reference the Lightning Web Component in the Display properties of the custom ARC relationship graph. A Lightning Web Component is a custom framework for creating reusable web components that run natively in browsers and leverage modern web standards. A custom ARC relationship graph is a metadata type in Financial Services Cloud that defines how account-account relationships are displayed in ARC, such as node shape, color, size, label, or icon. You can use Lightning Web Components and custom ARC relationship graphs to create customized nodes for ARC that show additional information or functionality for each account. Verified Reference: : Salesforce Help Article [9] : Salesforce Help Article [10]
NEW QUESTION # 42
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. Roll-up summary field
- B. Look-up Field
- C. Cross-object formula field
- D. Workflow field update
Answer: C
NEW QUESTION # 43
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. The Role Hierarchy in setup should be configured to allow for managers to automatically see records of those under them.
- 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. 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.
- E. 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
Answer: A,B,D
Explanation:
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 can view, 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
NEW QUESTION # 44
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. The Role Hierarchy in setup should be configured to allow for managers to automatically see records of those under them.
- 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. 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.
- E. 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
Answer: A,B,D
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 can view, 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 Reference: : Salesforce Help Article 1 : Salesforce Help Article 2 : Salesforce Help Article 3
NEW QUESTION # 45
Which three processes are part of Claims Management?
- A. Payment
- B. Reserve Management
- C. Quoting
- D. Underwriting
- E. Auto Adjudication
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 rules and 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.
NEW QUESTION # 46
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 Basic
- B. Financial Services Cloud Standard
- C. Financial Service Cloud Extension
- D. Client Segmentation
Answer: A
NEW QUESTION # 47
Which two limitations should a Salesforce Administrator consider before enabling Person Accounts?
- A. Person Accounts can be enabled and disabled only by contacting Salesforce Support
- B. Person Accounts cannot be disabled once they were enabled
- C. AppExchange packages will not work if Person Accounts are enabled
- D. Creating a client record via Salesforce Inbox is not supported.
Answer: B,D
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 Reference: : Salesforce Help Article 4 : Salesforce Help Article 5
NEW QUESTION # 48
A financial services company offers special deposit products for its employees. These employees have customer records in Salesforce so that they can be serviced like normal customers. Only customer service employees within a specific group should be able to see these special deposit products in Salesforce to protect the personal financial information of bank employees.
How should the administrator configure sharing rules in Financial Services Cloud to meet these requirements?
- A. Create a Financial Account sharing rule based on criteri
- B. Create Account sharing rules based on criteria.
- C. Create an Account sharing rule based on record owner.
- D. Create a Financial Account sharing rule based on record owner.
Answer: A
Explanation:
Explanation
To meet the requirements of sharing special deposit products for employees, the administrator should create a Financial Account sharing rule based on criteria. A Financial Account sharing rule is a sharing rule that grants access to financial account records based on record owner or field values. A sharing rule based on criteria is a type of sharing rule that grants access to records that meet certain criteria. By creating a Financial Account sharing rule based on criteria, the administrator can share the special deposit products with the customer service employees within a specific group based on a field value that indicates the product type.
NEW QUESTION # 49
Which of the following statement is true of Financial Services Cloud?
- A. You need to assign only the Financial Services Cloud license before you can access the product features
- B. Financial Services Cloud is an app you buy from AppExchange
- C. Financial Services Cloud sits on top of Sales and Service Cloud
- D. Financial Services Cloud is for only Wealth Management companies
Answer: C
NEW QUESTION # 50
Cumulus Bank is migrating its CRM software from a legacy application to Salesforce Financial Services Cloud (FSC). The bank hired Salesforce Professional Services to configure/deploy the new Salesforce FSC org and migrate data.
Which order should a consultant follow when performing the data migrations?
- A. Individuals, then Financial Accounts, then Financial Account Roles, then Financial Account Transactions
- B. Financial Accounts, then Financial Account Roles, then Individuals, then Financial Account Transactions
- C. Individuals, then Financial Account Roles, then Financial Accounts, then Financial Account Transactions
- D. Financial Accounts, then Financial Account Transactions, thenVinancial Account Roles, then Individuals
Answer: A
Explanation:
The order that the consultant should follow when performing the data migrations is Individuals, then Financial Accounts, then Financial Account Roles, then Financial Account Transactions. This order ensures that the data dependencies and relationships are maintained and that the data integrity and quality are preserved. By migrating Individuals first, the consultant can create the records that represent the customers of the bank. By migrating Financial Accounts next, the consultant can create the records that represent the financial products or services that the customers own or use. By migrating Financial Account Roles next, the consultant can create the records that link the individuals to the financial accounts and define their roles or relationships with those accounts. By migrating Financial Account Transactions last, the consultant can create the records that represent the transactions or activities that occur on the financial accounts.
NEW QUESTION # 51
Which two limitations should a Salesforce Administrator consider before enabling Person Accounts?
- A. Person Accounts can be enabled and disabled only by contacting Salesforce Support
- B. Person Accounts cannot be disabled once they were enabled
- C. AppExchange packages will not work if Person Accounts are enabled
- D. Creating a client record via Salesforce Inbox is not supported.
Answer: B,D
NEW QUESTION # 52
What actions can a Wealth Advisor take from the Life Events card7
- A. Create Lead & Referral
- B. Create Case
- C. Request Record Approval
- D. Open an Account
- E. Create Opportunity
Answer: A,C,E
Explanation:
Explanation
From the Life Events card, a Wealth Advisor can take the following actions:
Create Lead & Referral: This action creates a lead record for a new prospect or a referral record for an existing client based on the life event information.
Request Record Approval: This action initiates an approval process for the life event record to ensure compliance and quality standards.
Create Opportunity: This action creates an opportunity record to track the potential revenue from the life event. Verified References: : Salesforce Financial Services Cloud User Guide, page 30. : Salesforce Financial Services Cloud User Guide, page 31. : Salesforce Financial Services Cloud User Guide, page
32.
NEW QUESTION # 53
Our Personal Banker Hank Burton is learning to use Action Plans to ensure compliance in the client onboarding process. Where can Hank see Action Plan Tasks? (2 options)
- A. Hank will be able to see the Action Plan Tasks assigned to him on the standard Salesforce task list.
- B. Once the Action Plan is assigned, Hank can see the related Tasks on the Timeline.
- C. Hank will be able to see the Action Plan tasks on the related list of the Account page layout.
- D. Hank will be able to see the Action Plan Tasks assigned to him on his calendar.
Answer: A,C
Explanation:
Explanation
Hank can see Action Plan Tasks in two places:
On the related list of the Account page layout, where he can view all the tasks associated with an account and their status, due date, owner, and priority4.
On the standard Salesforce task list, where he can view all the tasks assigned to him across different accounts and filter them by various criteria.
NEW QUESTION # 54
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. Compact Layout
- C. Page Layout
- D. Lightning Record Pages
- E. Search Layout
Answer: B
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 # 55
A Financial Services Cloud (FSC) administrator is setting up a permission set for Actionable Relationship Center. Which license should the administrator select on the Permission Set setup page?
- A. FSC Basic
- B. OmniStudio
- C. FSC Extension
- D. FSC Standard
Answer: D
Explanation:
Explanation
To set up a permission set for Actionable Relationship Center (ARC), the administrator should select FSC Standard as the license on the Permission Set setup page. FSC Standard is a permission set license that enables user access to a license with contractual restrictions for Financial Services Cloud and provides access to core objects and features, including ARC1. By selecting FSC Standard as the license, the administrator can grant users access to ARC and its related objects and fields
NEW QUESTION # 56
When using sharing rules, what can records be shared with? (2 answers)
- A. Roles and subordinates
- B. Public Groups
- C. Queues
- D. Profiles
Answer: A,B
NEW QUESTION # 57
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. Compact Layout
- C. Page Layout
- D. Lightning Record Pages
- E. Search Layout
Answer: B
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 # 58
Lake Tahoe Bank branch manager Sue Barry wants to encourage all Personal Bankers to use Action Plans to capture repeatable tasks and automate the task sequences, improving collaboration and productivity. Which three of the following statements about Action Plans are true?
- A. Action Plans can be used to automatically assign task owners and deadlines for specific client engagements
- B. Action Plans make it easy to create reports and dashboards, so you can monitor progress and ensure compliance
- C. Action Plans can be used to schedule appointments with the Bankers
- D. Action Plans require a monthly license fee per user
- E. When you work with Action Plans, you first create Action Plan Templates
Answer: A,B,E
NEW QUESTION # 59
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 the Case process and create Cases with Case Type 'Referrar'.
- B. Write a trigger to create Referrals from a 'Create Referral* button.
- C. Use
- D. Use Global Action To create Referrals.
Answer: D
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 # 60
A financial services company wants to use the Financial Services Cloud Person Account data model. The company needs two Person Account record types, one to represent Individual customer and one to represent Individual independent advisors that send referrals.
What should the administrator do to set up the new record types?
- A. Enable "Use Person Account" custom setting.
- B. Create custom fields on the Person Account object.
- C. Create a record type on the Contact object.
- D. Configure Individual Record Type Mapper" custom metadata.
Answer: D
Explanation:
To set up the new record types for Person Accounts, the administrator should configure Individual Record Type Mapper custom metadata. The Individual Record Type Mapper is a custom metadata type in Financial Services Cloud that defines how records are created when using certain features, such as Einstein Data Capture or Salesforce Inbox. The Individual Record Type Mapper maps Person Account record types to Individual record types, so that when a new Individual record is created from an email or calendar event, it automatically creates a corresponding Person Account record with the same record type. To configure Individual Record Type Mapper custom metadata, you need to go to Setup > Custom Metadata Types > Individual Record Type Mapper > Manage Records and create a new record for each Person Account record type and its matching Individual record type. Verified Reference: : Salesforce Help Article [8] : Salesforce Help Article [9]
NEW QUESTION # 61
Cumulus Cloud Bank needs help onboarding new customers. The business process requires updating the Know Your Customer (KYC) document checklist and performing internal tasks in a predefined order.
However, during an internal audit, it was found that bankers often miss these tasks and still move to the next stage of the onboarding process.
What should a consultant recommend?
- A. Utilize Action Plan and Action INan Template.
- B. Utilize Chatter notifications for reminders.
- C. Utilize Financial Services Clouc flag Templates to flag missing items.
- D. Create an after-save trigger to generate reminder tasks.
Answer: A
Explanation:
Explanation
To help onboarding new customers, the consultant should recommend using Action Plan and Action Plan Template. 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 origination. You 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 enforce task dependencies and completion criteria, so that bankers cannot skip or miss any tasks or move to the next stage of the onboarding process without meeting the requirements. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2
NEW QUESTION # 62
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. Account with Record Type = Business
- B. Custom Relationship Group
- C. Contact-Contact Relationship
- D. Standard Household
Answer: B
NEW QUESTION # 63
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