Reliable Financial-Services-Cloud Dumps Questions Available as Web-Based Practice Test Engine [Q42-Q57]

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Reliable Financial-Services-Cloud Dumps Questions Available as Web-Based Practice Test Engine

Correct and Up-to-date Salesforce Financial-Services-Cloud BrainDumps

The Salesforce Financial-Services-Cloud exam is known to be challenging, so candidates are advised to invest in resources to prepare for it. These resources can include official Salesforce training courses, various online study resources, and practice tests. A thorough understanding of Salesforce’s terminology, functions, and features is essential to passing the exam.

Q42. The Salesforce Admin of Lake Tahoe Wealth Management Company needs to update an existing, published Action Plan Template to accommodate a change in the firm’s annual client review process. What steps should the Admin take to make that change?

Edit the published Action Plan Template directly.

Set the Action Plan Template to “Inactive” and then make changes to the template, as necessary.

Clone the existing Action Plan Template and make any necessary changes on the new Action Plan Template.

Q43. 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?

The share table records are deleted.

Share table records need to be manually deleted.

All opportunity participant records are delete

The opportunity participant records are not deleted.

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.

Q44. Which statement about the products and price books is true? (2 answers)

A product can have a different list price in different price books

A standard and list price for product can be listed in multiple currencies

Products without a price are automatically added to the standard price book

Price Books that contain assets cannot contain products.

Q45. Which of the following are FSC components that visualize groups and relationships in Lightning pages? (Check the 2 that apply)

Relationship Map and Group Builder

Related Accounts

Goal to Group Member Mapping

Person Life Events

Q46. A consultant advising Cumulus Bank wants to ensure that the bank is compliant with Identity Verification Regulations when customers contact the bank.
Which two features should a consultant leverage to design this business process?

Omni Studio

Process Builder

Discovery Framework

Screen Flows

Explanation
Process Builder and Screen Flows are two features that can be used to design a business process for identity verification. Process Builder is a tool that allows you to automate business processes by creating workflows that trigger actions based on certain criteria. Screen Flows are a type of flow that guide users through a series of screens to collect and update data. You can use Process Builder to launch a Screen Flow when a customer contacts the bank, and use the Screen Flow to capture and verify the customer’s identity information.
References: [Process Automation], [Screen Flows]

Q47. Which feature in Financial Services Cloud helps businesses identify, track, and route customer needs?

Intelligent Needs-Based Referrals

Lightning App Builder

Relationship Builder and Map

Surveys

Q48. Which of these statements is not correct about the visibility of Action Plan Tasks?

Once the Action Plan is assigned, you can see the related Tasks on the Timeline

The user can see tasks on the homepage if the Task Card is applied to the homepage.

Users will be able to see the Action Plan tasks assigned to them through the standard Salesforce task lists.

Users will be able to see the Action Plan tasks on the related list of the Account page layout.

Q49. What Report functionality would you use in order to quickly categorize report records without creating a formula or a custom field?

Joined Report

Matrix Report

Bucketing

Export

Schedule

Q50. Which is a feature of Chatter? (3 answers)

Feeds

Events

Bookmarks

Recommendations

Notes

Q51. Which three types of preassembled flows can be utilized from the Financial Services Cloud (FSC) packages and the Lightning Flow for FSC package?

Institutional Banking flow

Mortgage flow

Insurance flow

Retail Banking flows

Commercial Banking flow

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

Q52. Which Financial Services object would you use to store Bank Accounts data?

Charges and Fees

Assets and Liabilities

Financial Account

Financial Holding

Q53. When adding an Account-Account relationship using ARC (Actionnable Relationship Center), what 2 options does the banker have to represent a group of accounts, where one of the accounts is the parents of a number of other accounts ? (2 answers)

From each subsidiary account, select ‘New’ in the ‘Group Relationship’ components and create a new relationship with the parent account

From each subsidiary account, select ‘New’ in the ‘Member Relationships’ components and create a new relationship with the parent account

From the parent account, select ‘New’ in the ‘Group Relationship’ components and create a new relationship with the subsidiary account

From the parent account, select ‘New’ in the ‘Member Relationships’ components and create a new relationship with the subsidiary account

Q54. 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?

Contact

Lead

Account

Residential Loan Application

Opportunity

Q55. Users at Lake Bank have been creating multiple events for once in a lifetime event such as birth. What should an Administrator do to prevent users from accidentally creating more than one event of such an event type?

Create an Apex trigger that will prevent the saving of multiple one-time events

Select the Unique checkbox on the picklist value for the Event Type field on the Person Life Event object

Remove user’s ability to create one-time events

Create a validation rule that will stop the user if they attempt to add multiple one-time events.

To prevent users from accidentally creating more than one event of such an event type, the Admin should create a validation rule that will stop the user if they attempt to add multiple one-time events. A validation rule is a rule that verifies that the data a user enters in a record meets the standards you specify before the user can save the record. By creating a validation rule, the Admin can ensure that only one event of a certain type can be created for each contact.

Q56. The Salesforce Administrator at Lake Tahoe Bank is asked at make modifications to the Salesforce org to allow for more than one people being joint owners on a Financial Account. What will be the recommended approach to model this requirement?

Map the primary owner and one joint owner to the Financial Account, because FSC, supports only two joint account owners.

Map additional owners using the Financial Account Role.

Map additional owners using the Actionable Relationship Center.

Create lookup fields on the Financial Account object to support additional owners

To model a requirement where more than one person can be joint owners on a Financial Account, the Admin can map additional owners using the Financial Account Role. The Financial Account Role is a junction object that links a contact or an individual to a financial account and defines their role or relationship with that account. By using Financial Account Role, the Admin can add multiple owners to a Financial Account and specify their ownership percentage, primary status, and other details.

Q57. 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?

Contact-Contact Relationship

Account

Account Account Relationship

Account ContactRelationship

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 Reference: : Salesforce Help Article [4] : Salesforce Help Article [5]

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The FSC Accredited Professional exam is an important tool for financial professionals who use the Salesforce Financial-Services-Cloud platform. Financial-Services-Cloud exam tests a candidate’s knowledge of the platform and covers a wide range of topics related to financial planning and client management. Earning the FSC Accredited Professional certification can be a valuable asset for financial advisors and other professionals in the finance industry, helping them demonstrate their expertise and stand out in a competitive job market.

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Reliable Financial-Services-Cloud Dumps Questions Available as Web-Based Practice Test Engine [Q42-Q57]

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