Latest Salesforce Financial-Services-Cloud Practice Test Questions, Salesforce Financial Services Cloud (FSC) Accredited Professional Exam Dumps
Mar-2024 Pass Salesforce Financial-Services-Cloud Exam in First Attempt Easily
Salesforce FSC Accredited Professional Certification Exam is ideal for professionals who work in the financial services industry, including wealth managers, financial advisors, investment managers, and compliance officers. Salesforce Financial Services Cloud (FSC) Accredited Professional certification program is also suitable for Salesforce administrators and developers who specialize in customizing Salesforce Financial Services Cloud for financial services firms. Salesforce Financial Services Cloud (FSC) Accredited Professional certification is recognized by the financial services industry and demonstrates a high level of expertise in using Salesforce Financial Services Cloud to manage client relationships and deliver financial services.
Salesforce FSC Accredited Professional certification exam covers a wide range of topics, including financial services industry trends, client management, and financial planning. Financial-Services-Cloud exam also includes questions on Salesforce Financial Services Cloud platform features, such as financial accounts, opportunities, and activities. To pass the exam, candidates must demonstrate a deep understanding of these topics and their application in real-world scenarios.
Salesforce Financial-Services-Cloud is a powerful platform that can help financial institutions to improve their operations and increase profitability. The FSC Accredited Professional Exam is an important credential for professionals who work in the financial services industry. By passing the exam, professionals demonstrate their proficiency in using the Salesforce Financial-Services-Cloud to help financial institutions achieve their business goals. With the right preparation and study resources, professionals can increase their chances of passing the exam and earning this valuable credential.
NEW QUESTION # 37
Relationship Management enables you to (Check the 3 that apply)
- A. Define the Role of the Member of the group
- B. Display Financial Holding Data
- C. Define who are the members of a Relationship Group.
- D. Define Primary Group for a Member
Answer: A,B,C
NEW QUESTION # 38
Which feature license can be assigned to a user record in Salesforce (2 answers)
- A. Knowledge user
- B. Service cloud user
- C. Console user
- D. Opportunity user
Answer: A,B
NEW QUESTION # 39
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. Use Interaction Summary Participants to provide the right access to individuals or groups.
- B. Enable Compliant Data Sharing for Interactions.
- C. Disable Role-Hierarchy-Based Sharing for Engagement Interactions.
- D. Disable Role-Hierarchy-Based Sharing for Interaction Summaries.
- E. Enable Compliant Data Sharing for Interaction Summaries.
Answer: A,D,E
Explanation:
Explanation
Enable Compliant Data Sharing for Interaction Summaries, Use Interaction Summary Participants to provide the right access to individuals or groups, and Disable Role-Hierarchy-Based Sharing for Interaction Summaries.
NEW QUESTION # 40
True or False? A button to "Open Relationship Center" can be added to Account, Contact and Opportunity page layouts.
- A. True
- B. False
Answer: A
NEW QUESTION # 41
Which 3 options does the Financial Services Cloud application offer to view and update Account-Account. Account-Contact, and Contact-Contact Relationships?
- A. Group Members Component
- B. Family Members Component
- C. Life Events Component
- D. Actionable Relationship Center
- E. Relationship Map
Answer: A,D,E
Explanation:
The following options are available to view and update Account-Account, Account-Contact, and Contact-Contact Relationships in Financial Services Cloud:
Actionable Relationship Center: This is a Lightning component that displays a list of all the relationships for a client or a group. You can use it to view, create, edit, and delete relationships.
Relationship Map: This is a Lightning component that displays a graphical representation of all the relationships for a client or a group. You can use it to visualize and navigate the relationship network.
Group Members Component: This is a Lightning component that displays a list of all the members of a group. You can use it to view, add, and remove group members. Verified Reference: : Salesforce Financial Services Cloud User Guide, page 34. : Salesforce Financial Services Cloud User Guide, page 36. : Salesforce Financial Services Cloud User Guide, page 38.
NEW QUESTION # 42
A financial services company wants to track different categories of financial accounts in its org. Relationship managers must be able to see all of these financial accounts in one place on the customer's Account record page grouped by categories.
Which three steps should an administrator take to configure the Financial Account object and the Account Lightning record page to meet the design?
- A. Configure the Financial Account List components for each required category.
- B. Configure Financial Account record types to match the required categories.
- C. Add the Financial Account List component to the Account Lightning record page.
- D. Create Account lookup fields on the Financial Account object to link the Financial Accounts to an Account.
- E. Create a custom picklist on the Financial Account object to track the Typ
Answer: A,D,E
Explanation:
The following considerations should be included when configuring the report with branch management reportable objects:
Bankers with Branches with Opportunities, Accounts, Leads, and Contacts report types are available for creating reports with Branch Unit Related Records. These are standard report types that allow users to create reports that show data from Banker, Branch Unit, Opportunity, Account, Lead, Contact, and Branch Unit Related Record objects.
The reportable objects include Banker, Branch Unit, Branch Unit Related Records, and Branch Unit Customer. These are custom objects that are part of the branch management feature in Financial Services Cloud. Banker is an object that represents a banker or an employee who works at a branch unit. Branch Unit is an object that represents a physical location where bankers provide services to customers. Branch Unit Related Record is an object that represents a record that is related to a branch unit, such as an opportunity, an account, a lead, or a contact. Branch Unit Customer is an object that represents a customer who has a relationship with a branch unit.
When Branch Unit is the primary object, the administrator can select Branch Unit Customers or Branch Unit Related Records as related objects. This means that the administrator can create reports that show data from Branch Unit and its related objects by using lookup fields or junction objects.
NEW QUESTION # 43
Which three referral metrics are tracked with custom components included in Financial Services Cloud?
- A. Web to Lead Referrals
- B. Expressed interests
- C. Referrals Assigned to me
- D. My Approved Referrals
- E. My Top Referrers
Answer: B,C,E
Explanation:
Explanation
The following referral metrics are tracked with custom components included in Financial Services Cloud:
Expressed interests: This metric shows the number of referrals that have a specific expressed interest, such as a mortgage, a credit card, or a checking account. You can use this metric to understand the customer needs and interests that generate the most referrals.
My Top Referrers: This metric shows the top referrers who have created referrals for you, ranked by the number of referrals and the conversion rate. You can use this metric to identify and appreciate your best sources of business.
Referrals Assigned to me: This metric shows the number of referrals that are assigned to you and their status, such as New, In Progress, or Closed. You can use this metric to monitor and manage your referral pipeline and prioritize your follow-up actions. Verified References: : Salesforce Financial Services Cloud User Guide, page 40. : Salesforce Financial Services Cloud User Guide, page 41. : Salesforce Financial Services Cloud User Guide, page 42.
NEW QUESTION # 44
What item appears in a user's My Unresolved items after synchronization (2 answers)
- A. Emails not associated to a record
- B. Note not associated to a record
- C. Cases not assigned to a contact
- D. Contacts not assigned to an account
Answer: C,D
NEW QUESTION # 45
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. FSC Standard
- C. OmniStudio
- D. FSC Extension
Answer: B
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 # 46
Which three Group Member data points can be rolled up to the Group level?
- A. Loans
- B. Approvals
- C. Referrals
- D. Tasks
- E. Financial Goals
Answer: A,C,D
NEW QUESTION # 47
A client has called their Financial Advisor to open an Education Savings Account for their first child. What 2 steps should the Financial Advisor take in the Financial Services Cloud App to capture that information?
- A. Create a case and include the target Savings amount for the Education Savings Account and relate the case to the child's Person Account.
- B. Create two Life Events, one for the birth of the child and one for the Education Savings Account.
- C. Create a Life Event for the birth of the child and a Financial Goal for the Education Savings Account
- D. Create a Referral for the Banker for an Education Savings Account
- E. Create a Life Event for the birth of the child and a Referral for the Education Savings Account
Answer: C,E
Explanation:
Explanation
The following steps should be taken by the Financial Advisor in Financial Services Cloud App to capture the information about opening an Education Savings Account for their client's first child:
Create a Life Event for the birth of the child and a Referral for the Education Savings Account. A Life Event is a construct in Financial Services Cloud that allows you to track significant events in your client's life that may affect their financial needs or goals. You can use Life Events to create a record for the birth of the child and link it to the client's account. A Referral is a construct in Financial Services Cloud that allows you to capture a customer need or interest and assign it to another advisor or line of business. You can use Referrals to create a record for the Education Savings Account and route it to the appropriate banker.
Create a Life Event for the birth of the child and a Financial Goal for the Education Savings Account. A Financial Goal is a construct in Financial Services Cloud that allows you to track your client's financial objectives and measure their progress towards achieving them. You can use Financial Goals to create a record for the Education Savings Account and associate it with the client's account and financial accounts. Verified References: : Salesforce Financial Services Cloud User Guide, page 29. : Salesforce Financial Services Cloud User Guide, page 30. : Salesforce Financial Services Cloud User Guide, page
33.
NEW QUESTION # 48
A financial services company needs a custom field for reporting when relating two business accounts to each other. Which object should the administrator configure the custom field on?
- A. Account Contact\Relationship
- B. Contact-Contact Relationship
- C. Account
- D. Account Account Relationship
Answer: D
Explanation:
Explanation
To configure a custom field for reporting when relating two business accounts to each other, the administrator should configure the custom field on the Account-Account Relationship object. The Account-Account Relationship object is a custom object in Financial Services Cloud that allows you to create and manage relationships between two accounts, such as Household Member, Business Owner, Trustee, or Friend. You can use the Account-Account Relationship object to store additional information about the relationship between two accounts, such as role, start date, end date, or status. You can also use the Account-Account Relationship object to report on the account-account relationships and analyze their impact on your business. Verified References: : Salesforce Help Article [4] : Salesforce Help Article [5]
NEW QUESTION # 49
Universal Container wants to ensure that users complete the standard industry field when creating a new account record. To address the concern the administrator set the Industry field as required. However, some users are still able to create a new account record without completing the Industry Field.
What should an administrator do to troubleshoot the issues? (2 answers)
- A. Verify the industry field is set as required on all the account page layouts assigned to the users
- B. Verify the users have the "Edit" permission for accounts on their profiles
- C. Verify the users have the "Modify all data" permission for account on their profiles
- D. Verify the field-level security for the industry field is not set to "Read Only" on the user profiles.
Answer: A,D
NEW QUESTION # 50
Lake Tahoe Bank SF admin is planning to migrate date into the new FSC org. The admin can control whether Rollup by Lookup (RBL) rules or record rollups are queried and calculated. Before initiating data insert or update operations, the admin wants to disable rollups to speed up data loading. Where in SF would the admin disabled rollups to accelerated loads? (1 correct answer)
- A. Custom Settings
- B. App Manager
- C. Company Settings
- D. Object Settings
Answer: A
NEW QUESTION # 51
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. Page Layout
- C. Compact Layout
- D. Search Layout
- E. Lightning Record Pages
Answer: C
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 # 52
Which two statements are true for a Group in Financial Services Cloud?
- A. A group is a type of account record that people and businesses can be related to through the Financial Account relationship object
- B. Financial Services Cloud includes a group record type for households
- 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
Answer: B,C
Explanation:
Explanation
The following statements are true for a Group in Financial Services Cloud:
Financial Services Cloud includes a group record type for households, which is a record type that represents a collection of individuals who share financial goals, such as family members or roommates.
A group is a type of account record that people and businesses can be related to through the account contact relationship object, which is a junction object that links an account to a contact or an individual and defines their role or relationship with that account.
NEW QUESTION # 53
How can you set up Referral creation?
- A. As a Flow
- B. As a global action
- C. On a Community
- D. As a standard action
Answer: B,C,D
NEW QUESTION # 54
Sales management at universal containers needs to display the information listed below in each account record
- Amount of all closed won opportunities
- Amount of all open opportunities
Which feature should a system administrator use to meet this requirement?
- A. Workflow rules with field updates
- B. Roll-up summary fields
- C. Calculated columns in the related list
- D. Cross-Object formula fields
Answer: B
NEW QUESTION # 55
Permission set licenses incrementally entitle users to access features that are not included in their user licenses. Which three Permission Set Licenses give users access to Financial Services Cloud features?
- A. Financial Services Cloud Standard
- B. Action Plans
- C. Lightning Scheduler Resource
- D. Mortgage
- E. FSC Insurance
Answer: A,B,E
Explanation:
The following Permission Set Licenses give users access to Financial Services Cloud features:
Financial Services Cloud Standard: This license enables user access to a license with contractual restrictions for Financial Services Cloud and provides access to core objects such as accounts, contacts, leads, opportunities, cases, activities, reports, dashboards, and custom objects. This license also provides access to some Financial Services Cloud features such as Action Plans, Actionable Relationship Center (ARC), Branch Management, Complaint Management, Data Consumption Framework (DCF), Discovery Framework (DF), Document Generation (DG), Groups (Householding), Intelligent Document Automation (IDA), Intelligent Need-Based Referrals and Scoring (INRS), Referral Management (RM), Relationship Builder (RB), Relationship Groups (RG), Relationship Map (RM), Timeline (TL)1.
Action Plans: This license enables user access to the Action Plans feature, which allows users to create templates for common client processes, such as loan approval, account opening, or financial review. Action Plans can create repeatable tasks and automate the task sequences when executed2.
FSC Insurance: This license enables user access to the Insurance feature, which allows users to manage insurance policies and claims for clients. This license also provides access to some Insurance objects such as Policy, Claim, Coverage Type, Policy Product, Policy Product Offering. Verified Reference: 12
NEW QUESTION # 56
Which three of these statements are true for Rollup By Lookup (RBL) in FSC?
- A. Salesforce does not recommend or provide support for creation or customization of FSC RBL rules.
- B. Person Accounts need to be enabled in order to use the Rollup by Lookup functionality.
- C. The Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the client and group levels.
- D. An RBL (Rollup By Lookup) rule displays summary calculations of financial account information, such as account balances.
- E. Rollup By Lookup (RBL) do not require a lot of processing power.
Answer: A,B,D
NEW QUESTION # 57
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 only create savings-oriented goals.
- B. Financial Goals require the Financial Goals permission set to be visible to a user.
- C. You can associate a goal with a specific financial account.
- D. You can't create a goal for paying down a debt.
Answer: A,D
NEW QUESTION # 58
The sales team at universal containers wants an easy solution to gather customer requirements and share presentations with their customers.
What should an administrator do to help the sales team achieve this? (2 answers)
- A. Add customers to private Chatter groups
- B. Use chatter files to share presentations.
- C. Add customers to libraries.
- D. Create opportunity teams for customers.
Answer: A,B
NEW QUESTION # 59
Universal Containers requires that the organization-wide default for opportunities be set to public read/write. However, sales users are complaining that opportunity reports return too many results, making it difficult to find their team's opportunities in the report results.
How can the system administrator address this problem?
- A. Move the opportunity reports into a folder with restricted access
- B. Use the show filter to filter report results and reduce records returned
- C. Update the sharing rules to limit user access to certain opportunity
- D. Move the opportunity reports into each user's personal reports
Answer: B
NEW QUESTION # 60
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