Salesforce Financial-Services-Cloud Exam Questions Free Practice Test

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Questions # 31:

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?

Options:

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

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

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

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

Expert Solution

Questions # 32:

Lake Tahoe Bank's financial advisors are complaining that they can't see an accurate summary of their clients financial data as clients often change households. How can an Admin set up Financial Services Cloud to provide financial advisorswith an accurate summary of their client's financial data?

Options:

Create a roll-up field on the Opportunity object to track client's Financial Account balance and display the summary amount on the Person Account object.

Set clients financial data to be rolled up using Financial Services Cloud Primary Group.

Create a custom obiect to track client's financial data

Use Process Builder to create a workflow to summarize data at the Person Account level.

Expert Solution

Questions # 33:

Which 3 out of the box capabilities come with Financial Services Cloud Lead & Referral Management?

Options:

Referral Conversion

Assigning a Referral

Round Robin Referral Routing

Accepting a Referral

Referral Automated Approvals

Expert Solution

Questions # 34:

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?

Options:

APEX classes

Streaming API

Data Raptor Extract

Integration Procedure

Expert Solution

Questions # 35:

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?

Options:

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

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

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

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

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

Expert Solution

Answer

A, C, D

Explanation

[Reference: Set Up Clients, Households, and Relationships, Compliant Data Sharing in Financial Services Cloud | Salesforce Trailhead, Track Client Interactions - Salesforce, Explanation: Some considerations when adopting FSC-related objects are:, In a household, each household member is modeled as a Contact, and the household is modeled as an Account. A household is a type of relationship group that represents a group of clientswho have a direct relationship with one another and shared financials, such as spouses and their dependent children. A household is modeled as an Account record with a custom record type of Household. Each household member is modeled as a Contact record that is related to the household Account. A household can also have related accounts and contacts that are not part of the household, but are associated with it for some reason., Both the Financial Deal object and the Opportunity object support Compliant DataSharing. Compliant Data Sharing (CDS) is a feature of FSC that allows granular control over access to sensitive data in Account and Opportunity objects. CDS can help financial services companies comply with regulations and policies that restrict data visibility based on user roles. CDS can also be enabled for the Financial Deal object, which is a custom object that represents a business opportunity or transaction with a client. The Financial Deal object can be used instead of or in addition to the Opportunity object, depending on the business needs., Interaction Summary is an enhancement of the standard Activity object. FSC implementations should use Interaction Summary as a replacement for the Activity object. Interaction Summary is a custom object that captures the details of a client interaction, such as a meeting, a call, or an email. Interaction Summary can be linked to other FSC objects, such as Financial Accounts, Financial Goals, Financial Deals, or Relationship Groups. Interaction Summary can also have participants, which are records that represent the people or groups involved in the interaction., , , , , ]

Questions # 36:

Cumulus Bank has branches in multiple countries that are required to report in local currency, while the corporate headquarters office wishes to see reports in a single currency (the corporate currency).

Which solution should a consultant recommend to meet these requirements?

Options:

Set the default currency for head office and have the regions download their reports to Excel and convert them manually.

Use a third party from AppExchange add-on to implement currency conversions.

Enable multiple currencies and advanced currency management, and set a corporate currency for the corporate headquarters office.

Allowusers to set their preferred currency in their profile and design reports that convert currencies for the user running the report.

Expert Solution

Questions # 37:

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

Options:

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.

Assuming there are no other issues, what should happenwhen 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.

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

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.

Expert Solution

Questions # 38:

A consultant advising Cumulus Bank wants to ensure that the bank is compliant with Identity Verification Regulationswhen customers contact the bank.

Which two features should a consultant leverage to design this business process?

Options:

Omni Studio

Process Builder

Discovery Framework

Screen Flows

Expert Solution

Questions # 39:

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

Options:

Cases

Notes and Attachments

Client Financial Goals

Financial Holdings

Household Financial Accounts

Expert Solution

Questions # 40:

During a project's design phase, a consultant must provide a Financial Services Cloud solution that can support CompliantData Sharing (CDS). What are three things the consultant should consider regarding CDS?

Options:

Participant Roles provide another way to grant data access without overwriting sharing behavior from existing sharing features.

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 administratortake to configure the Financial Account object and the Account Lightning record page to meet the design?

Compliance managers and Salesforce administrators can enable CDS for Account and Opportunity objects.

Role Hierarchy—based sharing is disabled bydefault in CDS.

In a standard Salesforce org, Role Hierarchy for Account and Opportunity objects is enabled by default and can't be turned off.

Expert Solution

Answer

A, C, D

Explanation

[Reference: Compliant Data Sharing in Financial Services Cloud | Salesforce Trailhead, Explanation: Compliant Data Sharing (CDS) is a feature of Financial Services Cloud that allows granular control over access to sensitive data in Account and Opportunity objects. CDS can help financial services companies comply with regulations and policies that restrict data visibility based on user roles. Some considerations regarding CDS are:, Participant Roles provide another way to grant data access without overwriting sharing behavior from existing sharing features. Participant Roles are custom objects that define the possible roles for users who need access to Account or Opportunity records. For example, a Participant Role can be Advisor, Client, Specialist, or Decision Maker. Each Participant Role has an associated access level that determines what data fields the usercan view or edit. For example, an Advisor can have full access to all fields, while a Client can have read-only access to some fields., Compliance managers and Salesforce administrators can enable CDS for Account and Opportunity objects. CDS is not enabledby default in Financial Services Cloud. To enable CDS, compliance managers or administrators need to create an integration definition record for each object that they want to enable CDS for. An integration definition record specifies the object name, thefield name that contains sensitive data (such as Notes), the field name that contains the record owner (such as OwnerId), and the field name that contains the record type (such as RecordTypeId)., Role Hierarchy—based sharing is disabled by default in CDS.Role Hierarchy is a feature of Salesforce that allows users to inherit access to records from their managers or peers in the role hierarchy. For example, if a user has access to an Account record, their manager also has access to that record by default. However, in CDS, role hierarchy—based sharing is disabled by default for Account and Opportunity objects. This means that users do not inherit access to records from their role hierarchy unless they are explicitly granted access through Participant Roles orother sharing features., , , , ]

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