2024 Best Financial-Services-Cloud Exam Preparation Material with New Dumps Questions
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NEW QUESTION # 51
In Financial Services Cloud, what is the criteria for commas and symbols to be displayed correctly on the Financial Account Summary component?
- A. User's locale must match user's currency.
- B. User currency must match org default currency.
- C. Account currency must match org default currency.
- D. User's locale and language must match user's currency.
Answer: A
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 # 52
Which three types of preassembled flows can be utilized from the Financial Services Cloud (FSC) packages and the Lightning Flow for FSC package?
- A. Commercial Banking flow
- B. Mortgage flow
- C. Retail Banking flows
- D. Institutional Banking flow
- E. Insurance flow
Answer: B,C,E
Explanation:
Explanation
The Financial Services Cloud (FSC) packages and the Lightning Flow for FSC package provide preassembled flows that can be utilized to automate common financial services processes. The types of preassembled flows are:
Retail Banking flows: These flows enable retail banking customers to perform various self-service tasks, such as activating or closing a card, ordering checks, updating communication preferences, disputing transactions, and more1.
Insurance flow: This flow allows insurance customers to initiate the first notification of loss (FNOL) for an insurance policy2.
Mortgage flow: This flow helps mortgage customers to capture their financial information, such as assets, liabilities, income, and expenses, as part of the financial discovery process3.
References:
Financial Services Cloud Flows
Lightning Flow for Financial Services
Retail Banking Flows
Insurance Flow
Mortgage Flow
NEW QUESTION # 53
During a Financial Services Cloud implementation at an insurance company, a consultant needs to design a broker data model for the broker web portal. The given requirements are:
1. Brokers are treated individually, even if they are associated with the same company.
2. Brokers should never have access to other brokers' data.
3. Brokers can nominate their assistants to access the broker portal.
4. An assistant can sometimes work for multiple brokers.
Which two considerations should the consultant consider regarding the data model?
- A. The Broker Assistant should be modeled as a Contact. Then, leverage Contact to Multiple Account features if this assistant needs to work for multiple brokers.
- B. The Broker Assistant should be modeled as a Contact. Then, use Contact to Contact association if they need work for multiple D Brokers.
- C. Brokers need to be modeled as Account and Contact individually, as each broker is a legal entity in Salesforce. Then, use a Group 1-1 Account to model their company.
- D. Brokers should be modeled as Contact and the Broker company should be modeled as Account, even if they're a legal entity '-' individually.
Answer: A,C
Explanation:
The following considerations should be considered regarding the data model for the broker web portal:
The Broker Assistant should be modeled as a Contact. Then, leverage Contact to Multiple Account features if this assistant needs to work for multiple brokers. This is because Contacts are records that represent individuals who are associated with an account. By using Contacts, the consultant can capture the personal information of the broker assistants and relate them to their employers. By using Contact to Multiple Accounts features, the consultant can enable a contact to have relationships with multiple accounts and specify different roles and start and end dates for each relationship.
Brokers need to be modeled as Account and Contact individually, as each broker is a legal entity in Salesforce. Then, use a Group to model their company. This is because Accounts are records that represent business entities or organizations that are involved in business transactions with your company. By using Accounts, the consultant can capture the business information of each broker and treat them as legal entities in Salesforce. By using Contacts, the consultant can capture the personal information of each broker and relate them to their accounts. By using Groups, which are records that represent collections of accounts or contacts that share financial goals or characteristics, the consultant can model the broker company and associate multiple brokers with it
NEW QUESTION # 54
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 and assign the Cuslhm Field Set permission set to all users.
- B. Create a new type of person account so trust group details roll down to the beneficiaries level.
- C. Assign the Custom Field Set To a Lightning component.
- D. Create a Custom Field Set solely for the Wealth Managers without affecting the Investment Bankers.
- E. Assign the Custom Field Set to the Financial Summary component.
Answer: C,D,E
Explanation:
Explanation
The following steps should be taken by the consultant to offer a high level of customization to boost user productivity for the wealth management division:
Create a Custom Field Set solely for the Wealth Managers without affecting the Investment Bankers. A Custom Field Set is a construct in Financial Services Cloud that allows you to define a collection of fields that can be displayed in a Lightning component, such as the Financial Summary or the Financial Account List. You can use Custom Field Sets to customize the fields that are relevant for different user groups or business scenarios, without modifying the underlying data model or page layout. You can create a Custom Field Set by going to Setup > Object Manager > Financial Account > Field Sets and adding or removing fields according to your requirements.
Assign the Custom Field Set to the Financial Summary component. The Financial Summary component is a Lightning component that displays aggregated financial data for a selected record, such as an account, contact, or opportunity. You can use the Financial Summary component to provide a holistic view of your client's financial situation and goals. You can assign a Custom Field Set to the Financial Summary component by using the Lightning App Builder and selecting the Custom Field Set from the Component Properties panel.
Assign the Custom Field Set To a Lightning component. A Lightning component is a reusable unit of user interface that can be added to any Lightning page, such as record pages, app pages, or Home pages.
You can use Lightning components to enhance the functionality and user experience of your pages. You can assign a Custom Field Set to a Lightning component by using the Lightning App Builder and selecting the Custom Field Set from the Component Properties panel. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2 : Salesforce Help Article 3
NEW QUESTION # 55
What can an administrator configure for users on the search results? (3 answers)
- A. Number of records displayed for each object.
- B. Columns displayed for each object.
- C. Objects included in the search
- D. Fields being searched on for each object.
- E. Filters by which users can narrow down results
Answer: A,B,D
NEW QUESTION # 56
When the multiple currencies feature is enabled, which currency is used as the basics for all currency conversion rates?
- A. Record currency
- B. Active currency
- C. Personal currency
- D. Corporate currency
Answer: D
NEW QUESTION # 57
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. Integration Procedures
- B. OmniScripts
- C. FlexCards
- D. Business Rules Engine
- E. APEX Code
Answer: A,B,D
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 # 58
Which dashboard component can display data from the summary rows of reports? (2 answers)
- A. Gauge
- B. Metric
- C. Chart
- D. Table
Answer: C,D
NEW QUESTION # 59
Universal Containers has two business groups, products and services. Both groups will be using to track deals, but different fields are required by each group.
How should a system administrator meet this requirement? (2 answers)
- A. Create two page layouts
- B. Create two record types
- C. Create two permission sets
- D. Create two sales processes.
Answer: A,B
NEW QUESTION # 60
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 Creathqn Toolbox
- B. MobileClaimSubmission
- C. Policy Administration
- D. Quote, Rate, and Apply
- E. Claims Management
Answer: C,D,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 # 61
Which step is required to give a group of users access to a Financial Deal?
- A. Create a Financial Deal permission set and assign it to the users that should have access to Financial Deals.
- B. Change organization-wide defaults (OWD) sharing on the Financial Deal object to Public Read/Write.
- C. Update Industries Settings to give users access to the Financial Dew object.
- D. Share a financial deal record with a group by adding them as participants to the record from the Financial Deal Participants related list,
Answer: D
Explanation:
Explanation
To give a group of users access to a Financial Deal, you need to share a financial deal record with a group by adding them as participants to the record from the Financial Deal Participants related list. The Financial Deal Participants related list is a custom related list on the Financial Deal object that allows you to add users, groups, or queues as participants of a financial deal. Participants can have different roles and access levels for a financial deal, such as Owner, Collaborator, Viewer, or Approver. By adding a group as a participant, you can grant access to all the members of that group for a specific financial deal. Verified References: : Salesforce Help Article [6] : Salesforce Help Article [7]
NEW QUESTION # 62
Which three standard fields are available to track a customer's retirement gial progress?
- A. Target value
- B. Actual value
- C. Total Value
- D. Target Date
- E. Contributions
Answer: A,B,D
Explanation:
Explanation
The following standard fields are available to track a customer's retirement goal progress:
Actual value, which is a currency field that represents the current value of the goal.
Target value, which is a currency field that represents the desired value of the goal.
Target Date, which is a date field that represents the expected date of achieving the goal.
NEW QUESTION # 63
The Salesforce Admin at Lake Tahoe Bank considering implementing Financial Services Cloud. What is the best way for the Admin to access a Financial Services pre-configured org, including data and the right licenses, to learn about the product?
- A. Purchase one license of Financial Services Cloud and install it in a production org.
- B. Spin up a Salesforce sandbox org.
- C. Request a Salesforce developer org.
- D. Request a 30-day Financial Services Cloud trial org
Answer: D
Explanation:
Explanation
The best way for the Admin to access a Financial Services Cloud pre-configured org, including data and the right licenses, to learn about the product is to request a 30-day Financial Services Cloud trial org. You can sign up for the 30-day trial using this form 4. You get preconfigured and preloaded sample data so you can start playing around in your new org right away. Once you're done testing it out, you can transition your trial org to a production org with the help of your account executive or solution engineer. Verified References: : Trailhead Module 5
NEW QUESTION # 64
A financial services company would like its users to be able to relate two business accounts. What should the administrator configure to meet the requirement?
- A. Create a new Account Reciprocal Role for the required value.
- B. Update the Role picklist on the Account-Account Relationship object with new value.
- C. Update the Role picklist on the Account-(?ontact Relationship object with new value.
- D. Create a new Contact Reciprocal Role for the required value.
Answer: B
Explanation:
To configure Financial Services Cloud to allow users to relate two business accounts, the administrator should update the Role picklist on the Account-Account Relationship object with new value. The Role picklist is a field on the Account-Account Relationship object that defines the type of relationship between two accounts, such as Household Member, Business Owner, Trustee, or Friend. The Role picklist is used to filter and display the account-account relationships in the Actionable Relationship Center (ARC). To update the Role picklist, you need to go to Setup > Object Manager > Account-Account Relationship > Fields & Relationships > Role and add or remove values according to your business needs. Verified Reference: : Salesforce Help Article [10] : Salesforce Help Article [11]
NEW QUESTION # 65
What is the capability of the service cloud (customer) portal? (2 answers)
- A. Customer can log, view, edit, and close their own cases.
- B. The portal can be customized with corporate branding.
- C. The portal and its users can be created without additional licenses.
- D. Customers can view and edit contacts related to their own accounts.
Answer: B,C
NEW QUESTION # 66
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Salesforce Financial Services Cloud (FSC) Accredited Professional Certification Exam is designed for professionals who want to demonstrate their expertise in the Salesforce FSC platform. The FSC platform is a comprehensive solution for financial advisors, wealth managers, and insurance providers to manage their client relationships, investments, and policies. Salesforce Financial Services Cloud (FSC) Accredited Professional certification exam is intended for those who have experience in financial services and want to expand their knowledge and skills in using Salesforce FSC to better serve their clients.
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