Financial-Services-Cloud Dumps PDF 2023 Strategy Your Preparation Efficiently
Latest Verified & Correct Salesforce Financial-Services-Cloud Questions
Earning the Salesforce FSC Accredited Professional certification can provide numerous benefits to professionals in financial services. It can enhance their credibility and increase their marketability to prospective employers and clients. Certified professionals can also gain access to exclusive Salesforce events, webinars, and communities, where they can connect with other experts in the field and stay up-to-date with the latest industry trends and best practices.
Salesforce Financial Services Cloud is a comprehensive platform designed specifically for financial service providers. It enables users to manage their clients, accounts, and financial products all in one place. The FSC Accredited Professional certification exam is designed to test your knowledge of this platform's features and capabilities. You will be tested on topics such as managing client relationships, financial products and services, and regulatory compliance. You will also be tested on your ability to configure, customize, and integrate the Financial Services Cloud platform to meet specific business needs.
NEW QUESTION # 61
Financial Services Cloud (FSC) contains a number of custom objects to model a client's financial information, and each object can be configured to appear as tabs in your org. For example, if a consultant wanted to create a financial goal for a customer, they could use the Financial Goal object in FSC.
What are three objects in FSC?
- A. Financial Goal
- B. Revenue
- C. Inheritance
- D. Billing
- E. Financial Holding
Answer: A,B,E
Explanation:
Explanation
Financial Services Cloud contains a number of custom objects to model a client's financial information, and each object can be configured to appear as tabs in your org. Some of the custom objects are:
Financial Goal: An object that represents a client's financial objective, such as saving for retirement, buying a house, or paying off debt. A financial goal has fields to store information, such as name, amount, target date, priority, and status.
Financial Holding: An object that represents a holding in an investment account, such as a security, a mutual fund, or a bond. A financial holding has fields to store information, such as symbol, shares, price, gain/loss, and market value.
Revenue: An object that represents revenue generated from a client's financial accounts, such as an increase in stock value, a dividend payment, or an interest income. A revenue has fields to store information, such as type, amount, date, and source.
References:
Financial Services Cloud Associated Objects
Learn About the Financial Services Cloud Data Model
NEW QUESTION # 62
A user profile has login hour restrictions set to Monday through Friday 8am to 5pm. It is Tuesday and it is now 5.01 PM.
Which behavior of the application should the user expect?
- A. The user will be able to continue working, but will be unable to start any new sessions
- B. The user will be logged out and any unsaved work-in-progress will be saved
- C. The user will be able to continue working and start new sessions
- D. The user will be logged out and any unsaved work-in-progress will be lost
Answer: A
NEW QUESTION # 63
What does the Salesforce Admin have to install to provide users access to referral dashboards and reports?
- A. The unmanaged extension package for Intelligent Need-Based Referrals and Scoring
- B. Salesforce CRM Dashboards
- C. The managed extension package for intelligent Need-Based Referrals and Scoring
- D. Einstein Analytics for Financial Services
Answer: A
Explanation:
The unmanaged extension package for Intelligent Need-Based Referrals and Scoring provides users access to referral dashboards and reports, as well as referral scoring and routing features.
NEW QUESTION # 64
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
- B. Contact-Contact Relationship
- C. Account Contact\Relationship
- 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 # 65
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. Bankers with Branches with Opportunities, Accounts. Leads, and Contacts report types are available for creating reports with Branch Unit Related Records.
- B. When Branch Unit is the primary object, the administrator can select Branch Unit Customers or Branch Unit Related Records as related objects.
- C. Branch Unit Related Record report types have related object names including Lead, Account, and Contact but exclude Financial Account.
- D. The reportable objects include Banker. Branch Unit, Branch Unit Related Records, and Branch Unit Customer.
Answer: A,D
Explanation:
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 # 66
Which of the following objects do support Group-Level Rollups7
- A. Tasks
- B. Financial Accounts
- C. Opportunities
- D. Action Plans
- E. Alerts
Answer: A,B,C
NEW QUESTION # 67
The support team at Universal Containers wants to be more proactive about renewing support plans with customers. They would like the support representative dedicated to each account to be notified a month before the account`s support plan expires.
What should an administrator configure to meet this requirement?
- A. Assignment rule
- B. Workflow rule
- C. Escalation rule
- D. Auto-Response rule
Answer: B
NEW QUESTION # 68
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 selected by the advisor for record rollups.
- B. to all the parent households and groups
- C. to the household with the client's primary address
- D. to the Household where the client is the primary member
Answer: A
Explanation:
Explanation
If a client is associated with more than one Household or Group, their records will get rolled up to the household selected by the advisor for record rollups. A Household or Group is a construct in Financial Services Cloud that allows you to group related accounts together and view their aggregated financial data and activities. A client can belong to multiple Households or Groups, but only one of them can be selected as their primary Group for record rollups. The primary Group determines which Household or Group will display the client's records in its summary components or related lists. The advisor can select or change the primary Group for a client using the Primary Group field on the client's record page. Verified References: : Salesforce Help Article 6
NEW QUESTION # 69
Universal Containers uses a custom field on the account object to capture the account credit status. The sales team wants to display the account credit status on opportunities.
Which feature should a system administrator use to meet the requirements?
- A. Cross-object formula field
- B. Look-up Field
- C. Roll-up summary field
- D. Workflow field update
Answer: A
NEW QUESTION # 70
Which setting in Action Plans helps to avoid non working hours, company holidays, and other non working days for deadline calculation?
- A. Skip Non-Work Days for Deadlines
- B. Skip Non-Work Days for Action Plans
- C. Skip Non-Work Days For Tasks
- D. Sync with Company Calendar
Answer: B
NEW QUESTION # 71
Lake Tahoe Bank branch manager Sue Barry wants to encourage all Personal Bankers to use Action Plans to capture repeatable tasks and automate the task sequences, improving collaboration and productivity. Which three of the following statements about Action Plans are true?
- A. Action Plans can be used to automatically assign task owners and deadlines for specific client engagements
- B. Action Plans make it easy to create reports and dashboards, so you can monitor progress and ensure compliance
- C. Action Plans can be used to schedule appointments with the Bankers
- D. When you work with Action Plans, you first create Action Plan Templates
- E. Action Plans require a monthly license fee per user
Answer: A,B,D
Explanation:
The following statements about Action Plans are true:
When you work with Action Plans, you first create Action Plan Templates, which are reusable sets of tasks that define a common client process1.
Action Plans make it easy to create reports and dashboards, so you can monitor progress and ensure compliance. Users can use standard report types or custom report types to create reports on action plans, action plan templates, action plan items, action plan item templates, and action plan item owners1.
Action Plans can be used to automatically assign task owners and deadlines for specific client engagements. Users can specify task owners by using assignment logic such as specific user, role, queue, action plan creator, or account team1. Verified Reference: 1
NEW QUESTION # 72
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 a Contact-Contact Relationships between the primary member of the Adams Household and the attorney.
- B. Create an Account-Account Relationship between the Addams Family Trust and the attorney.
- C. Create an Account-Contact relationship between the Adams Household and the attorney.
- D. Create an Account-Account relationship between the Adams Household and the attorney
Answer: C
NEW QUESTION # 73
What can be modified on standard object fields? (2 answers)
- A. Field type
- B. Label
- C. Default text
- D. Picklist Values
- E. Help text
Answer: D,E
NEW QUESTION # 74
What permission is set in a user's profile? (3 answers)
- A. Run Reports
- B. Mass email
- C. Active
- D. Marketing user
- E. Object Permissions
Answer: A,B,E
NEW QUESTION # 75
Which of the following objects do support Group-Level Rollups?
- A. Tasks
- B. Financial Accounts
- C. Opportunities
- D. Action Plans
- E. Alerts
Answer: B,C,D
Explanation:
The following objects do support Group-Level Rollups:
Financial Accounts: You can use Group-Level Rollups to display the total balance, total market value, and total cost basis of all the financial accounts that belong to a group.
Action Plans: You can use Group-Level Rollups to display the number of action plans, the number of completed action plans, and the completion percentage of all the action plans that are associated with a group.
Opportunities: You can use Group-Level Rollups to display the total amount, expected revenue, and weighted amount of all the opportunities that are related to a group. Verified Reference: : Salesforce Financial Services Cloud Implementation Guide, page 80. : Salesforce Financial Services Cloud Implementation Guide, page 81. : Salesforce Financial Services Cloud Implementation Guide, page 82.
NEW QUESTION # 76
Relationship Management enables you to (Check the 3 that apply)
- A. Define who are the members of a Relationship Group.
- B. Define the Role of the Member of the group
- C. Display Financial Holding Data
- D. Define Primary Group for a Member
Answer: A,B,C
NEW QUESTION # 77
Where should a Salesforce Administrator go to add custom icons to the Life Events and Business Milestones?
- A. Setup > User Interface > icons > Life Events and Business Milestones
- B. Setup > Financial Services > Icons > Life Events and Business Milestones
- C. Setup > Custom Code > Static Resources
- D. Lightning Page Layout > Life Events and Business Milestones Lightning Component > Page Icon Properties
Answer: C
Explanation:
To add custom icons to the Life Events and Business Milestones, you need to upload them as static resources in Setup > Custom Code > Static Resources. You also need to update the Icon Name field on the Life Event and Business Milestone objects to match the name of the static resource. Verified Reference: : Salesforce Financial Services Cloud Implementation Guide, page 58.
NEW QUESTION # 78
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 and its users can be created without additional licenses.
- C. The portal can be customized with corporate branding.
- D. Customers can view and edit contacts related to their own accounts.
Answer: B,C
NEW QUESTION # 79
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