2023 New Financial-Services-Cloud Dumps - Real Salesforce Exam Questions
Dependable Financial-Services-Cloud Exam Dumps to Become Salesforce Certified
NEW QUESTION # 83
What should a Financial Advisor use to model the relationship between a business contact and a client that is modeled as a person account?
- A. Contact-Contact Relationship and the Reciprocal Rote
- B. Reciprocal Role
- C. Account-Contact Relationship and the Reciprocal Role
- D. Account-Account Relationship
Answer: A
Explanation:
A Contact-Contact Relationship is a construct in Financial Services Cloud that allows you to model the relationship between two contacts, such as a business contact and a client that is modeled as a person account. The Reciprocal Role is a field on the Contact-Contact Relationship object that defines how each contact relates to the other. Verified Reference: : Salesforce Financial Services Cloud Implementation Guide, page 64.
NEW QUESTION # 84
Sales representatives at universal containers should not be able to create leads, delete their own accounts, or send mass emails How can an administrator meet these requirements?
- A. Create a custom profile.
- B. Modify a standard profile.
- C. Change the organization-wide default settings.
- D. Create a sharing rule.
Answer: A
NEW QUESTION # 85
What feature does a Salesforce Administrator need to enable so users can see all the referrals for the members of a group?
- A. Referrals Rollups
- B. Referral Group Process Builder
- C. Group Member Referrals
- D. Referral Scoring
Answer: A
NEW QUESTION # 86
Relationship Management enables you to (Check the 3 that apply)
- A. Define the Role of the Member of the group
- B. Define who are the members of a Relationship Group.
- C. Define Primary Group for a Member
- D. Display Financial Holding Data
Answer: A,B,D
NEW QUESTION # 87
Universal container uses a private sharing model for opportunities. The sales team wants sales engineers to be involved in specific Opportunities to help sales representatives close deals faster.
How can an administrator meet this requirement?
- A. Add sales engineers to account teams.
- B. Enable chatter Feed Tracking on opportunities.
- C. Add chatter groups to opportunities.
- D. Add sales engineers to opportunity teams.
Answer: D
NEW QUESTION # 88
Rachel Addams belongs to two households:
1. The Addams household where Rachel lives with her spouse, Nigel Addams. Rachel is the client and, as such, is listed as the primary member of that household. This household is also Rachel's primary group.
2. The Symonds household. This household belongs to Rachel's parents, but Rachel manages their finances.
Rachel is considered the beneficiary of this household.
In addition, Rachel's household has a related account, the Addams Charitable Trust, and a related contact, Ivan
M. Kohl, attorney at law.
What should be the relationships between the parties when the Financial Services Cloud consultant sets up Rachel's person account?
1.Primary Group Household - Addams Household
Primary Member - Rachel Addams
Spouse - Nigel Adams
Trustee - Addams Charitable Trust
Household - Symonds Household
Primary Member - Neil Symonds
Beneficiary - Rachel Addams
Related Accounts - Addams Charitable Trust
Related Contacts - Ivan M. Kohl
A financial services company needs to transform the individual data model to person accounts in Financial Services Cloud (FSC), and its consulting partner is helping decide the sequence of the user stories in the design phase.
What should the implementation team do as the top priority during planning?
- A. Perform a data backup.
- B. Enable a person account in a sandbox.
- C. Enable person accounts in FS
- D. Configure Person Account record types.
Answer: A
Explanation:
Explanation
The relationships between the parties when the Financial Services Cloud consultant sets up Rachel's person account should be as follows:
Primary Group Household - Addams Household
Primary Member - Rachel Addams
Spouse - Nigel Adams
Trustee - Addams Charitable Trust
Household - Symonds Household
Primary Member - Neil Symonds
Beneficiary - Rachel Addams
Related Accounts - Addams Charitable Trust
Related Contacts - Ivan M. Kohl
NEW QUESTION # 89
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-Account relationship between the Adams Household and the attorney
- B. Create a Contact-Contact Relationships between the primary member of the Adams Household and the attorney.
- C. Create an Account-Contact relationship between the Adams Household and the attorney.
- D. Create an Account-Account Relationship between the Addams Family Trust and the attorney.
Answer: B
Explanation:
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 References: 2
NEW QUESTION # 90
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. Policy Administration
- C. MobileClaimSubmission
- D. Quote Creathqn Toolbox
- E. Claims Management
Answer: A,B,E
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 # 91
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. Hide the Event or Milestone on the Events & Business Milestones Lightning Component page properties.
- B. Remove the Event or Milestone from the Lightning Component in the Developer Console.
- C. 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.
- D. Delete the value from the Event Type picklist on the Life Event Object or the Milestone type on the Business Milestone object
Answer: A
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 Reference: 2
NEW QUESTION # 92
A Salesforce Admin is configuring a new Action Plan Template. One task in that template needs to be picked up by the next available Advisor. What assignment logic should the Admin use when configuring this template task?
- A. Action Plan Creator
- B. Account Team
- C. Specific User
- D. Queues
- E. Role
Answer: D
Explanation:
To assign a task to the next available Advisor, the Admin should use Queues as the assignment logic when configuring the template task. Queues are collections of records that can be assigned to multiple users who share workloads and responsibilities. By using Queues, the Admin can ensure that any Advisor who is part of the Queue can pick up the task when they are available.
NEW QUESTION # 93
A financial services company has found that more than two-thirds of customer onboarding processes are manually done by client specialists, consuming large amounts of time and resulting in errors in the sales process. The company contacts a consultant to learn how to leverage Financial Services Cloud features to improve the current state.
What should the consultant consider from a customer onboarding perspective?
- A. If the company struggles with the low efficiency of collecting data in questionnaires and meeting compliance with the company policies. Action Plan can be used to improve the current state.
- B. If the company struggles with the low effi^ency of tracking required documents for its customers and creating templates for ^ checklists. Discovery Framework is recorrU^ided to improve the current state.
- C. If the company struggles with the low efficiency of collecting data in questionnaires and meeting compliance with the company policies. Discovery Framework can be used to improve the current state.
- D. If the company struggles with the low efficiency of tracking required documents for its customers and creating templates for checklists, Action Plan is recommended to improve the current state.
Answer: A
Explanation:
Explanation
The consultant should consider the following from a customer onboarding perspective:
If the company struggles with the low efficiency of collecting data in questionnaires and meeting compliance with the company policies, Action Plan can be used to improve the current state. 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 application. 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 create instances of templates that apply to specific target records, such as accounts, contacts, or opportunities. Action Plan can help you collect data in questionnaires and ensure compliance with company policies by providing step-by-step guidance and validation rules for each task. Verified References: : Salesforce Help Article [4] : Salesforce Help Article [5]
NEW QUESTION # 94
Which three of these statements are true for Rollup By Lookup (RBL) in Financial Services Cloud?
- A. Person Accounts need to be enabled in order to use the Rollup by Lookup functionality.
- 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. RBL rules do not require a lot of processing power.
- E. Salesforce does not recommend or provide support for creation or customization of Financial Services Cloud RBL rules
Answer: B,C,E
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 # 95
Lake Tahoe Bank is implementing Financial Services Cloud. The bank's new business processes require that Financial Advisors can add individuals to more than one Group or Household using Multiple Relationship Groups. Where do Admins enable Multiple Relationship Groups?
- A. Lightning Page Editor
- B. Object Settings
- C. Custom Settings
- D. Profiles
Answer: C
Explanation:
Explanation
To enable Multiple Relationship Groups, which is a feature that allows users to add individuals to more than one group or household, the Admin needs to use Custom Settings. Custom Settings are similar to custom objects and enable application developers to create custom sets of data, as well as create and associate custom data for an organization, profile, or specific user. The Admin can use Custom Settings to enable Multiple Relationship Groups by following these steps:
From Setup, enter Custom Settings in the Quick Find box, then select Custom Settings.
Click Manage next to Group Member Record Type Mapper.
Click Edit next to Default Organization Level Value.
In Multiple Relationship Groups Enabled, select True.
Click Save.
NEW QUESTION # 96
The Actionable Relationship Center (ARC) is using the Association Type picklist to control the account-account relationships. Which three of the following names are Association Type picklist field values?
- A. Trust
- B. Peer
- C. Family
- D. Group
- E. Member
Answer: A,B,C
Explanation:
Explanation
The following names are Association Type picklist field values:
Trust, which is a value that indicates that the accounts are related through a trust relationship.
Family, which is a value that indicates that the accounts are related through a family relationship.
Peer, which is a value that indicates that the accounts are related through a peer relationship.
NEW QUESTION # 97
A financial institution has custom security and visibility rules where certain users need to see specific records even though they are not typically engaged in that Account. This includes legal and compliance members who must be engaged for particular deals.
Which Financial Services Cloud capability provides the ability to accommodate this request?
- A. Business Rules Engine
- B. Interaction Summaries
- C. Compliant Data Sharing
- D. Custom Sharing Rules
Answer: C
Explanation:
The Financial Services Cloud capability that provides the ability to accommodate the request of sharing specific records with certain users who are not typically engaged in that account is Compliant Data Sharing. Compliant Data Sharing is a feature that allows users to share records with other users based on criteria such as record type or field value. Users can create sharing rules for objects such as account, contact, individual, financial account role, opportunity participant role, or case team role. By using Compliant Data Sharing, the financial institution can share records with legal and compliance members who must be engaged for particular deals based on a field value that indicates the deal type.
NEW QUESTION # 98
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. Add the New button to the page layout using the page layout ________
- B. Grant the user "Read" profile permission for the campaign.
- C. Select the "Manage Campaigns" profile permission.
- D. Select the Marketing User checkbox in the user record.
Answer: D
NEW QUESTION # 99
An insurance company wants to create a car insurance quote process for its website. The process should include the following functionality:
* The user has to enter contact and address information.
* The user has to enter the driver's age and the car model and year.
* The process should calculate an insurance quote based on the data the customer provided and save the offer to the client's record.
Which three OmniStudio tools should the consultant use to design a solution that meets these requirements?
- A. Business Rules Engine
- B. OmniScripts
- C. FlexCards
- D. APEX Code
- E. Integration Procedures
Answer: A,B,E
Explanation:
Explanation
The following OmniStudio tools should be used to design a solution that meets the requirements for creating a car insurance quote process for the website:
OmniScripts, which are tools that allow users to create guided, interactive, and intuitive scripts that capture data and execute actions. By using OmniScripts, the consultant can create a script that guides the user through the car insurance quote process and captures the contact and address information, the driver's age, and the car model and year.
Integration Procedures, which are tools that allow users to orchestrate data and actions across multiple systems using RESTful APIs. By using Integration Procedures, the consultant can create a procedure that calls the core system service to calculate an insurance quote based on the data provided by the user and returns the quote to the OmniScript.
Business Rules Engine, which is a tool that allows users to define business logic and validation rules using natural language expressions. By using Business Rules Engine, the consultant can create rules that validate the data entered by the user and enforce any business policies or conditions for the car insurance quote process.
NEW QUESTION # 100
Which Option is available when using the process visualizer? (2 answers)
- A. View approval processes as a flow chart
- B. Share annotated approval process diagrams
- C. Add approval steps from the process visualizer
- D. Edit the criteria used to trigger the approval process
Answer: A,B
NEW QUESTION # 101
Cumulus Cloud Bank must provide its customer service staff with real-time access to customer accounts, including the ability to view current transactions and balances. As a result, the bank expects a high volume of concurrent users at peak times.
Which option is most suitable?
- A. Use Salesforce ConnecHvith External Objects to expose tables from the bank's core systems, and use the standard user interface (Ul) components to surface the records in Salesforce Lightning Ul.
- B. Embed custom Lightning web components on the Account and Financial Account pages, and use custom Apex to make callouts to the core system services.
- C. Use Salesforce Connect with External Objects to expose tables from the bank's core systems, and use custom Lightning web components to surfatKthem in the Salesforce Lightning Ul.
- D. Use the Data Consumption Framework to connect to the bank's middleware.
Answer: B
Explanation:
The most suitable option for Cumulus Cloud Bank to provide its customer service staff with real-time access to customer accounts, including the ability to view current transactions and balances, is to embed custom Lightning web components on the Account and Financial Account pages, and use custom Apex to make callouts to the core system services. This option allows the bank to leverage the Lightning Platform features and capabilities, such as Lightning web components, Apex, and callouts, to create a seamless and performant integration with their core systems. By using custom Lightning web components, the bank can create custom user interfaces that display the data from the core systems on the Account and Financial Account pages. By using custom Apex, the bank can write code that makes callouts to the core system services using HTTP requests and responses, and handle any authentication, error handling, or data transformation logic.
NEW QUESTION # 102
Cumulus Bank has implemented Compliant Data Sharing in Financial Services Cloud. Which two things happen when an opportunity record that has opportunity participants with associated share table entries is set to Private?
- A. The share table records are deleted.
- B. The opportunity participant records are not deleted.
- C. All opportunity participant records are delete
- D. Share table records need to be manually deleted.
Answer: A,B
Explanation:
Explanation
The following things happen when an opportunity record that has opportunity participants with associated share table entries is set to Private:
The share table records are deleted, which means that any sharing access granted by the opportunity participants is revoked.
The opportunity participant records are not deleted, which means that they still exist on the opportunity record and can be viewed by users who have access to the opportunity.
NEW QUESTION # 103
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