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NEW QUESTION # 59
Financial Advisors can create a financial goal to track a client's progress toward major purchases, retirement savings, or other life goals. Which statements are correct?
- A. You can't create a goal for paying down a debt.
- B. You can associate a goal with a specific financial account.
- C. Financial Goals require the Financial Goals permission set to be visible to a user.
- D. You can only create savings-oriented goals.
Answer: A,D
NEW QUESTION # 60
Which of these statements is true for the Person Accounts Model? (2 correct answers)
- A. The Person Account model uses the standard Account object to hold all of the details about a person. The Account object has been extended with custom fields, record types, and more.
- B. The Person Account represents all aspects of the person. Data includes personhood details, such as birth date or tax ID number, and dealings with your organization, such as review frequency or service tier
- C. Person Accounts can not be related to cases, tasks, or calls.
- D. The Person Account record type can be used when a client is a business or an institution.
Answer: A,B
NEW QUESTION # 61
What does the Salesforce Admin have to install to provide users access to referral dashboards and reports?
- A. The unmanaged extension package for Intelligent Need-Based Referrals and Scoring
- B. Einstein Analytics for Financial Services
- C. The managed extension package for intelligent Need-Based Referrals and Scoring
- D. Salesforce CRM Dashboards
Answer: A
Explanation:
The unmanaged extension package for Intelligent Need-Based Referrals and Scoring provides users access to referral dashboards and reports, as well as referral scoring and routing features.
NEW QUESTION # 62
Sam is the Salesforce Admin for Valley Bank. The bank's financial advisors are complaining they can't see an accurate summary of their client's financial data as clients often change households. Sam wants to give his financial advisors a better view of the client's complete financial situation. How can he set this up using FSC?
- A. Create a custom object to track the client's financial data
- B. Use Process Builder to create a workflow to summarize data at the Person Account level
- C. Set client's financial data to be rolled up using Primary Group feature
Answer: C
NEW QUESTION # 63
Which accounts are automatically synchronized on Salesforce classic
- A. Accounts that the users own
- B. All recently accessed accounts
- C. Accounts selected with the sync button
- D. Any account created in the last 30 days
Answer: B
NEW QUESTION # 64
An investment bank is implementing Financial Services Cloud (FSC) to manage the deal pipeline. Each opportunity has confidential information that the deal team members 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. Profiles
- B. Sharing Rules
- C. Complianthata Sharing
- D. Interaction Summaries
- E. Financial Deal Management
Answer: B,D,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.
NEW QUESTION # 65
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. Configure Individual Record Type Mapper" custom metadata.
- C. Create custom fields on the Person Account object.
- D. Create a record type on the Contact object.
Answer: B
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 # 66
In Financial Services Cloud, what is the criteria for commas and symbols to be displayed correctly on the Financial Account Summary component?
- A. User currency must match org default currency.
- B. User's locale and language must match user's currency.
- C. Account currency must match org default currency.
- D. User's locale must match user's currency.
Answer: D
Explanation:
Explanation
The criteria for commas and symbols to be displayed correctly on the Financial Account Summary component is that user's locale must match user's currency. The locale is a setting that determines how dates, times, numbers, and currencies are formatted and displayed for a user. The currency is a setting that determines how monetary amounts are formatted and displayed for a user. By matching the user's locale with their currency, FSC can ensure that commas and symbols are displayed correctly on the Financial Account Summary component according to the user's preferences and expectations
NEW QUESTION # 67
A banking customer is using Sales Cloud but their Admin is considering whether Financial Services Cloud would be a better solution to meet their business needs. What is the best way for the Admin to access a Financial Services org with pre-configured data to play around and learn what's in it?
- A. Spin up a Trailhead challenge org
- B. Request a Salesforce developer org
- C. Hop on a 30-day Financial Services Cloud trial org
- D. Purchase one license of an FSC production org
Answer: C
NEW QUESTION # 68
A feature that captures, refers, routes, and prioritizes customer needs across business lines
- A. Report
- B. Referrals
- C. Opportunity
- D. Expressed Interest
Answer: B
NEW QUESTION # 69
Which circumstances will prevent a system administrator from deleting a custom field?
- A. The field is used in a report.
- B. The field is used in a workflow field update.
- C. The field is part of a field dependency.
- D. The field is used in a page layout.
Answer: B
NEW QUESTION # 70
When the multiple currencies feature is enabled, which currency is used as the basics for all currency conversion rates?
- A. Record currency
- B. Personal currency
- C. Corporate currency
- D. Active currency
Answer: C
NEW QUESTION # 71
Lake Tahoe Bank would like to capture their commercial customers in FSC. A commercial customer can be owned by multiple groups. How can Lake Tahoe Bank SF Admin configure FSC to capture and display commercial customer and its parent company ? (3 correct answers)
- A. Link multiple owners to the business entity as a Group
- B. Add the Business record type to the Group record type mapper
- C. Capture the majority owner as parent account using Account hierarchy
- D. Leverage Groups to capture the majority owner and Account hierarchy to capture minority owner
- E. Enable Relationship Group Hierarchy in Custom Metadata
Answer: A,B,D
Explanation:
To capture and display commercial customers and their parent companies, Lake Tahoe Bank SF Admin can use the following steps:
Add the Business record type to the Group record type mapper, which is a custom metadata type that defines which record types can be added as members of a group1.
Leverage Groups to capture the majority owner of a commercial customer, which is a business entity that has a stake in another business entity1. Groups are a feature that allows users to create and manage household and business relationships1.
Use Account hierarchy to capture minority owners of a commercial customer, which are business entities that have less than 50% stake in another business entity2. Account hierarchy is a feature that allows users to see how accounts are related to each other in a parent-child relationship2.
Link multiple owners to the business entity as a Group, which allows users to see all the stakeholders of a commercial customer in one place1
NEW QUESTION # 72
The Salesforce Admin of Lake Tahoe Bank wants to implement Financial Services Cloud using the individual object model. What are the steps to disable person accounts? (Choose Three)
- A. Disable the Person Account custom setting.
- B. Remove Person Account record types from the Individual Record Type Mapper.
- C. Assign the Individual record type to the user profiles.
- D. Assign the Person Account record type to the user profiles.
- E. Log a case with Salesforce to perform the conversion from Person Accounts to the individual model.
Answer: B,C,E
Explanation:
The following steps are required to disable Person Accounts and use the Individual object model in Financial Services Cloud:
Log a case with Salesforce to perform the conversion from Person Accounts to the individual model. You need to contact Salesforce Support to request the conversion from Person Accounts to the individual model. This is an irreversible process 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 requesting the conversion in production.
Remove Person Account record types from the Individual Record Type Mapper. You need to remove any Person Account record types that are mapped to Individual record types in the Individual Record Type Mapper. This is a custom setting that defines how records are created when using certain features, such as Einstein Data Capture or Salesforce Inbox. You can access this setting by going to Setup > Financial Services Settings > Individual Record Type Mapper.
Assign the Individual record type to the user profiles. You need to assign the Individual record type to the user profiles that need to create or access Individual records. The Individual record type is a standard record type on the Account object that represents an individual person who is not directly related to your business, such as a prospect, influencer, or household member. You can assign record types by going to Setup > Profiles > Object Settings > Accounts > Record Types. Verified Reference: : Salesforce Help Article 5 : Salesforce Help Article 6 : Salesforce Help Article 7
NEW QUESTION # 73
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. Implement deduplication rules in Salesforce and let the integration handle the updates to the source system.
- B. Leverage Financial Services Cloud Relationship Groups to link duplicate client records and create a consolidated view.
- C. Create a custom Person Account hierarchy to link duplicate client records.
- D. Link individuals using related contacts to link duplicate client records
- E. Create custom components to provide a single view of the client.
Answer: B
Explanation:
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 # 74
A marketing user needs to create a new campaign, but the New Button is NOT visible from the campaign home page. The system administrator has verified that the user has the "Create" profile permission for the campaign object.
How should the system administrator resolve the issue?
- A. Select the Marketing User checkbox in the user record.
- B. Select the "Manage Campaigns" profile permission.
- C. Grant the user "Read" profile permission for the campaign.
- D. Add the New button to the page layout using the page layout ________
Answer: A
NEW QUESTION # 75
Cumulus Insurance's business processes are quite complex, and steps in the process may vary depending on the information captured.
Which three actions regarding functionality and features should a consultant suggest exploring to help guide Cumulus Insurance users through these processes?
- A. Use flows to remove the neea for complex Lightning pages.
- B. Configure Dynamic Lightning pages.
- C. Build custom Lightning pages that correspond to each stage of the business process.
- D. Configure Dynamic Actions for Lightning pages.
- E. Enable In-App Guidance to provide walk-throughs.
Answer: A,D,E
Explanation:
The following actions regarding functionality and features should be suggested to help guide Cumulus Insurance users through their complex business processes:
Configure Dynamic Actions for Lightning pages. Dynamic Actions are a feature that allows you to customize the actions that appear on a Lightning page based on criteria such as record type, field value, device type, or user profile. You can use Dynamic Actions to show or hide actions that are relevant or irrelevant for each stage of the business process, such as creating a case, sending an email, or generating a quote.
Enable In-App Guidance to provide walk-throughs. In-App Guidance is a feature that allows you to create prompts and guided tours that appear within the Salesforce app to help users learn new features, complete tasks, or adopt best practices. You can use In-App Guidance to provide step-by-step guidance for complex business processes, such as onboarding a customer, submitting a claim, or renewing a policy.
Use flows to remove the need for complex Lightning pages. Flows are a tool that allows you to 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. You can use flows to simplify and streamline complex business processes, such as applying for a loan, enrolling in a plan, or changing a beneficiary. Verified Reference: : Salesforce Help Article [12] : Salesforce Help Article [13] : Salesforce Help Article [14]
NEW QUESTION # 76
Scott Adams is opening a joint savings account with his mom, Rachel Adams. Rachel Adams is the primary member of the Adams Household. Personal Banker Hank Burton wants to make sure that Scott's data is rolling up to the Adams Household. How can the Banker accomplish this?
- A. Make the Adams Household Scotts pnmary Group and make Scott the pnmary member
- B. Disable the Primary Group setting fof Scon on the Adams Household
- C. Make the Adams Household Scott's primary Group and edit tie Activities & Objects to ft* Up.
- D. Add Scon as a Related Contact to the Adams Household.
Answer: C
Explanation:
To make sure that Scott's data is rolling up to the Adams Household, the Banker should make the Adams Household Scott's primary Group and edit the Activities & Objects to Roll Up. 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. By making the Adams Household Scott's primary Group, the Banker can ensure that Scott's financial data is included in the household summary. The Banker can also edit the Activities & Objects to Roll Up to specify which items, such as financial accounts, goals, or referrals, should be rolled up for Scott. Verified Reference: : Salesforce Help Article 4
NEW QUESTION # 77
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 Extension
- B. FSC Basic
- C. FSC Standard
- D. OmniStudio
Answer: C
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 # 78
Which of these statements is true for the Person Accounts Model? (2 correct answers)
- A. The Person Account model uses the standard Account object to hold all of the details about a person. The Account object has been extended with custom fields, record types, and more.
- B. The Person Account represents all aspects of the person. Data includes personhood details, such as birth date or tax ID number, and dealings with your organization, such as review frequency or service tier
- C. The Person Account record type can be used when a client is a business or an institution.
- D. Person Accounts can not be related to to cases, tasks or calls.
Answer: A,B
NEW QUESTION # 79
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