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Financial-Services-Cloud Exam Dumps - Salesforce Financial Services Cloud (FSC) Accredited Professional (AP) exam

Question # 4

When importing records from a system outside of Salesforce, which ID should be used to prevent the data import from creating duplicates?

A.

User ID

B.

Data Load ID

C.

External ID

D.

Org ID

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Question # 5

How are identification documents, other assets, liabilities, goals, and revenue modeled, in an existing Financial Services Cloud org using the individual account model?

A.

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.

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.

Custom obiects are used to represent other assets, liabilities, and goals. In the individual model, these objects are related to the Account oJ Nj.

D.

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.

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Question # 6

Which step is required to give a group of users access to a Financial Deal?

A.

Change organization-wide defaults (OWD) sharing on the Financial Deal object to Public Read/Write.

B.

Create a Financial Deal permission set and assign it to the users that should have access to Financial Deals.

C.

Share a financial deal record with a group by adding them as participants to the record from the Financial Deal Participants related list,

D.

Update Industries Settings to give users access to the Financial Dew object.

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Question # 7

Which three record type options should an advisor configure for a Lead object configuration?

A.

Referral

B.

Opportunity

C.

General

D.

Adjustments

E.

Retirement Planning

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Question # 8

Which of the following statements are correct when creating Financial Goals?

A.

Users can only create savings oriented goals.

B.

Users require the Financial Goals permission set to works with Financial Goals

C.

Users can associate a goal with a specific Financial Account.

D.

Users can create goals for paying down debt

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Question # 9

Which three objects should a Financial Services Cloud administrator use when planning to use the Mortgage Data Model to integrate with external Loan Origination and Customer Onboarding applications to accurately track the pipeline?

A.

Assets & Liabilities

B.

Opportunity

C.

Case

D.

Account

E.

Financial Account

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Question # 10

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 all the parent households and groups

C.

to the household selected by the advisor for record rollups.

D.

to the Household where the client is the primary member

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Question # 11

Which three processes are part of Claims Management?

A.

Auto Adjudication

B.

Reserve Management

C.

Quoting

D.

Underwriting

E.

Payment

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Question # 12

A financial institution is concerned about contacting clients or sharing their data when they have requested not to be contacted.

Which action should the consultant take in Financial Services Cloud to address the institution's concern?

A.

Integrate the Consent object with their Consent Platform to track it in Salesforce.

B.

Hide the client's contact information and add an approval process for allowing a user to access it to contact the client.

C.

Implement Consent Management for Financial Services Cloud.

D.

Enable and implement the iate Regulation checkbox on the client record to track their request.

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Question # 13

A consulting firm is asked to add Events and Milestones to a Lightning record page to give financial advisors deeper insights into their customers' lives.

What should the consultant configure to enable advisors to capture Once-in-a-Lifetime events and, at the same time, prevent users from accidentally creating more than one event of such an event type?

A.

Once-in-a-Lifetime event types

B.

Special event types

C.

Single event types

D.

Unique event types

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Question # 14

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-Contact relationship between the Adams Household and the attorney.

B.

Create an Account-Account relationship between the Adams Household and the attorney

C.

Create a Contact-Contact Relationships between the primary member of the Adams Household and the attorney.

D.

Create an Account-Account Relationship between the Addams Family Trust and the attorney.

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Question # 15

Cumulus Bank wants to use Interactions to capture conversations that investment bankers have with their clients. Due to the sensitive nature of the interactions, the bank needs to carefully limit access to the detailed notes for certain groups. Basic information about attendees and meeting dates is not sensitive.

Which three options should a consultant recommend?

A.

Enable Compliant Data Sharing for Interactions.

B.

Enable Compliant Data Sharing for Interaction Summaries.

C.

Disable Role-Hierarchy-Based Sharing for Engagement Interactions.

D.

Use Interaction Summary Participants to provide the right access to individuals or groups.

E.

Disable Role-Hierarchy-Based Sharing for Interaction Summaries.

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Question # 16

Agents for an insurance company need to know the current and past weather conditions when creating customer claims. The consultant implements a Flex Card for weather conditions in the console to ensure the agents can access the information. The Flex Card needs to provide fields extracted from a weather API and an account field from Salesforce.

Which method should the consultant use, according to best practices?

A.

APEX classes

B.

Streaming API

C.

Data Raptor Extract

D.

Integration Procedure

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Question # 17

What are two language-related limitations of Financial Services Cloud?

A.

Predefined reciprocal roles are available only in English.

B.

Custom component labels are supported only in English.

C.

Referral record type labels are supported only in English.

D.

Flows are available only in English.

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Question # 18

Which three standard fields are available to track a customer’s retirement gial progress?

A.

Contributions

B.

Actual value

C.

Total Value

D.

Target value

E.

Target Date

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Question # 19

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.

Creating a client record via Salesforce Inbox is not supported.

D.

AppExchange packages will not work if Person Accounts are enabled

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Question # 20

Which two statements are true for a Group in Financial Services Cloud?

A.

Financial Services Cloud includes a group record type for households

B.

A group is a type of account record that people and businesses can be related to through the Financial Account relationship object

C.

A group is a type of account record that people and businesses can be related to through the account contact relationship object.

D.

Financial Services Cloud includes a group record type for businesses

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Question # 21

A wealth management firm is looking to start tracking its clients' hobbies for marketing purposes in Salesforce. Which Financial Services Cloud feature is most suitable for this?

A.

Interest Tags

B.

Alerts

C.

Topics

D.

Engagement Topics

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Question # 22

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.

Account-Account Relationship

B.

Contact-Contact Relationship and the Reciprocal Rote

C.

Reciprocal Role

D.

Account-Contact Relationship and the Reciprocal Role

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Question # 23

An insurance company needs to ensure the record rollups aggregate information from related records for several objects in the Financial Services Cloud at a client or group level.

What should the administrator configure to meet the requirement?

A.

To show all Primary Group member cases on a related list at the group level, the administrator should add Cases as a picklist value to the Rollup__c field on Account Contact Relationship.

B.

Client-level records are aggregated by setting up client-level rollups to all primary group members.

C.

When the administrator enables record rollups at the group level, all corresponding records are stamped with the Primary Group in the Rallup_c lookup field

D.

To show all Primary Group member opportunities on a related list at the group level, the administrator should add Opportunities as a picklist value to the Household__c field on Account Contact Relationship.

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Question # 24

Which three related lists are visible within Actionable Relationship Center associated with the Account object?

A.

Cases

B.

Notes and Attachments

C.

Client Financial Goals

D.

Financial Holdings

E.

Household Financial Accounts

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Question # 25

Which two statements are true about Group Membership in Financial Services Cloud?

A.

Group Membership defines the role of the member within the Group.

B.

With Group Membership settings you can define if a Group is the member's primary Group.

C.

With Group Membership settings you can define who is the primary and who is the secondary member within the Group.

D.

Group Membership is modeled using the Account-Group Relationship object.

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Question # 26

Which three referral metrics are tracked with custom components included in Financial Services Cloud?

A.

Web to Lead Referrals

B.

Expressed interests

C.

My Top Referrers

D.

My Approved Referrals

E.

Referrals Assigned to me

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Question # 27

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.

Create an after-save trigger to generate reminder tasks.

B.

Utilize Chatter notifications for reminders.

C.

Utilize Action Plan and Action INan Template.

D.

Utilize Financial Services Clouc flag Templates to flag missing items.

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Question # 28

Lake Tahoe Bank, an existing Salesforce customer, is planning to implement Financial Services Cloud. Their Salesforce Admin is considering whether to use a new Salesforce org or upgrade the existing org. Which three of the considerations below indicate that a new Salesforce org is the better choice9

A.

The bank wants to use this project as an opportunity to retire customization

B.

The current implementation is using a product-centric view and the bank wants to move to a customer-centric view.

C.

Data migration is a big concern The current org has a large amount of data and the Bank wants to minimize data migration efforts.

D.

The bank has limited redesign opportunities for business capabilities.

E.

Existing business capabilities and processes can be redesigned to deliver a higher business impact

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Question # 29

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.

Industry Integration Solutions with the MuleSoft Anypoint Platform

B.

Data Processing Engine

C.

OmniStudio Integration Procedures

D.

Data Consumption Framework

E.

OmniStudio DataRaptors

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Question # 30

Lake Tahoe Bank has been using Sales Cloud to support the business to consumer (B2C) activities. The VP of IT wants a better and more flexible data model that can support his B2C Banking use cases. He is considering upgrading to Financial Services Cloud, using Person Accounts. Which 2 of these statements are true for the Financial Services Cloud Person Account Data Model?

A.

Person Accounts can be merged with Business Accounts in Financial Services Cloud

B.

To share a Person Account record the admin will need to create sharing rules Account and Contact objects

C.

The Person Account record type can be used when a client is an agent for a broker firm that is doing business with the Financial Institution.

D.

The Person Account is a virtual object displaying data from Accounts and Contacts objects. It represents all aspects of the person and includes D data such date of birth or tax ID number.

E.

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 and a Person Account Record Type

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Question # 31

What steps does the Salesforce Administrator have to take to create a new Business Milestone Type?

A.

In the Object Manager go to the Business Milestone object and create a new field using the name of the new milestone.

B.

Find Person Life Event using the Object Manager and add a new picklist value on the Milestone Type Field.

C.

Find Business Milestone using the Object Manager and add a new picklist value on the Milestone Type Field

D.

In the Lightning Page Editor add the new Milestone Type to the Life Events & Business Milestones Lightning component

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Question # 32

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? (Choose Three)

A.

Contact

B.

Lead

C.

Account

D.

Residential Loan Application

E.

Opportunity

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Question # 33

What does the Salesforce Admin have to install to provide users access to referral dashboards and reports?

A.

The managed extension package for intelligent Need-Based Referrals and Scoring

B.

Einstein Analytics for Financial Services

C.

The unmanaged extension package for Intelligent Need-Based Referrals and Scoring

D.

Salesforce CRM Dashboards

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Question # 34

An asset management firm that is moving to Salesforce from its old CRM wants to be able to bring over its client data on drivers’ licenses and passports. 55m 058

Which Financial Services Cloud object should a consultant recommend?

A.

Document Checklist Item

B.

Received Document

C.

Identification Document

D.

Identity Document

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Question # 35

Cumulus Bank's mortgage department is currently using spreadsheets to gather client data for mortgage applications. The bank is interested in improving the efficiency of this process.

Which two features should a consultant suggest to Cumulus Bank to implement?

A.

The standard mortgage flow templates to build a mortgage flow in Financial Services Cloud

B.

Flow Builder to automate these business processes

C.

A Mortgage Application’ custom object to hold the collected client data

D.

Data Import Wizard to upload the data collected in spreadsheets

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Question # 36

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.

Specific User

C.

Account Team

D.

Role

E.

Queues

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Question # 37

A wealth advisor is trying to relate a client to their attorney using the Add Contact option on the relationship tree but can't find any reciprocal roles displayed in the related role lookup. What are two reasons for this?

A.

The user should be using the Member Relationship button under the Actionable Relationship Center.

B.

Reciprocal roles have not been created in the org.

C.

Sharing rules have not been set up for reciprocal roles.

D.

The user should be using the Edit Group button to access reciprocal roles.

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Question # 38

Which three related lists are visible within the Actionable Relationship Center associated with the Account object?

A.

Household Financial Accounts

B.

Cases

C.

Client Financial Goals

D.

Financial Holdings

E.

Notes and Attachments

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Question # 39

A wealth management division manages the financial assets of many wealthy clients.

Which three steps should the Financial Services Cloud consultant take to offer a high level of customization to boost user productivity?

A.

Create a new type of person account so trust group details roll down to the beneficiaries level.

B.

Create a Custom Field Set solely for the Wealth Managers without affecting the Investment Bankers.

C.

Assign the Custom Field Set to the Financial Summary component.

D.

Create and assign the Cuslhm Field Set permission set to all users.

E.

Assign the Custom Field Set To a Lightning component.

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Question # 40

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.

Compact Layout

B.

Page Layout

C.

Search Layout

D.

Lightning Record Pages

E.

Field Sets

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Question # 41

One administrator user at a financial services company needs to help management build reports and gain insights into business performance by including branch management reportable objects.

Which two considerations should the administrator include when configuring the report?

A.

Branch Unit Related Record report types have related object names including Lead, Account, and Contact but exclude Financial Account.

B.

Bankers with Branches with Opportunities, Accounts. Leads, and Contacts report types are available for creating reports with Branch Unit Related Records.

C.

The reportable objects include Banker. Branch Unit, Branch Unit Related Records, and Branch Unit Customer.

D.

When Branch Unit is the primary object, the administrator can select Branch Unit Customers or Branch Unit Related Records as related objects.

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Question # 42

Cumulus Cloud Bank, a major financial services provider, has engaged Salesforce Professional Services to transform its operations with Financial Services Cloud (FSC). The Addams family are wealth management clients with the following relationships:

• The wife and her husband are part of the Addams Household.

The wife is the primary member, and together the couple run the Addams Charitable Trust.

• The wife is also part of the Symonds Household with her father as the primary member. Which tool should the Salesforce FSC consultant recommend so a wealth manager could make sense of this complex data to provide impeccable service to the Addams family and discover new business opportunities?

A.

Data Filtering and Sorting in Tableau Desktop

B.

Financial Services Cloud Einstein

C.

Data Visualization with Marketing Cloud Intelligence

D.

Actionable Relationship Center (ARC), an advanced visualization engine

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Question # 43

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.

Account currency must match org default currency.

C.

User's locale must match user's currency.

D.

User's locale and language must match user's currency.

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Question # 44

Salesforce provides a robust set of automation features to help save time and resources. For example, a system administrator can use Flow Builder to automate most of an organization's repetitive business processes.

Which use case is a suitable fit for Flow Builder?

A.

Coordinate multiple flows and assign them to multiple teams or individuals.

B.

Suggest offers and actions to users that are tailored to meet an organization's unique business criteria.

C.

Collect input from internal users with a form placed on a Lightning page cKlaunched by a button.

D.

Perform an operation for more records than schedule-triggered flows allow

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Question # 45

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 Services Cloud Standard

B.

Client Segmentation

C.

Financial Service Cloud Basic

D.

Financial Service Cloud Extension

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Question # 46

Lake Tahoe Bank's System Administrator is implementing intelligent Need-Based Referrals in Salesforce. Referrals are modeled on the Lead object. Which three Lead features can the System Admin use for Intelligent Need-Based Referrals?

A.

Lead Routing

B.

Web to-Lead

C.

Lead Assignment Rules

D.

Lead Approval

E.

Einstein Lead Scoring

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Question # 47

During the delivery stage of a Financial Services Cloud (FSC) implementation, a consultant needs to think about how to utilize FSC-related objects. Which three things should the consultant consider when adopting such objects?

A.

In a household, each household member is modeled as a Contact, and the household is modeled as an Account.

B.

In a household, each of the household members is modeled as a Person Account and the household is modeled as an Account.

C.

Role Hierarchy-based sharing can be disabled for the Financial Deal object but can't be disabled for the Opportunity object.

D.

Both the Financial Deal object and the Opportunity object support Compliant Data Sharing.

E.

Interaction Summary is an enhancement of the standard Activity object. FSC implementations should use Interaction Summary as a replacement for the Activity object.

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