Pass Salesforce Financial-Services-Cloud Exam With Practice Test Questions Dumps Bundle
2024 Valid Financial-Services-Cloud test answers & Salesforce Exam PDF
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.
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.
Salesforce Financial Services Cloud (FSC) is a comprehensive platform designed specifically for financial service providers. It offers a range of tools and features that help financial service providers manage their clients' accounts, track investments, and monitor financial performance. The Salesforce FSC Accredited Professional Certification Exam is designed to test professionals' knowledge of the platform and their ability to leverage it to provide top-notch financial services to clients. Salesforce Financial Services Cloud (FSC) Accredited Professional certification is highly respected in the industry and can help professionals advance their careers by demonstrating their skills and knowledge.
NEW QUESTION # 29
What can be transferred from one user to another user during mass transfer of account records? (3 answers)
- A. Closed activities
- B. Closed cases
- C. Open activities
- D. Related custom object records
- E. Open cases
Answer: B,C,E
NEW QUESTION # 30
A wealth management firm is looking to start tracking its clients' hobbies for marketing purposes in Salesforce. Which Financial Services Cloud feature is most suitable for this?
- A. Interest Tags
- B. Topics
- C. Alerts
- D. Engagement Topics
Answer: A
Explanation:
The Financial Services Cloud feature that is most suitable for tracking clients' hobbies for marketing purposes is Interest Tags. Interest Tags are features that allow users to add tags to contacts or individuals based on their interests or preferences. Users can create custom interest tags or use predefined ones from FSC. By using Interest Tags, the wealth management firm can capture its clients' hobbies and use them for marketing segmentation or personalization.
NEW QUESTION # 31
Which of the following statements are correct when creating Financial Goals?
- A. Users require the Financial Goals permission set to works with Financial Goals
- B. Users can only create savings oriented goals.
- C. Users can create goals for paying down debt
- D. Users can associate a goal with a specific Financial Account.
Answer: C
NEW QUESTION # 32
Which 3 out of the box capabilities come with Financial Services Cloud Lead & Referral Management?
- A. Referral Conversion
- B. Round Robin Referral Routing
- C. Assigning a Referral
- D. Accepting a Referral
- E. Referral Automated Approvals
Answer: A,C,D
Explanation:
The following out of the box capabilities come with Financial Services Cloud Lead & Referral Management:
Referral Conversion: This capability allows you to convert a referral to an opportunity, a contact, or an account. You can use this capability to track the progress and outcome of a referral and measure its impact on your business.
Assigning a Referral: This capability allows you to assign a referral to another user, queue, or line of business. You can use this capability to route a referral to the appropriate person or team who can best meet the customer's need or interest.
Accepting a Referral: This capability allows you to accept a referral that is assigned to you or your queue. You can use this capability to acknowledge that you have received a referral and are ready to work on it. Verified Reference: : Salesforce Help Article 1 : Salesforce Help Article 3 : Salesforce Help Article 5
NEW QUESTION # 33
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 advisors with an accurate summary of their client's financial data?
- A. Create a custom obiect to track client's financial data
- B. Use Process Builder to create a workflow to summarize data at the Person Account level.
- C. 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.
- D. Set clients financial data to be rolled up using Financial Services Cloud Primary Group.
Answer: D
NEW QUESTION # 34
A marketing user needs to create a new campaign, but the New Button is NOT visible from the campaign home page. The system administrator has verified that the user has the "Create" profile permission for the campaign object.
How should the system administrator resolve the issue?
- A. Select the "Manage Campaigns" profile permission.
- B. Add the New button to the page layout using the page layout ________
- C. Grant the user "Read" profile permission for the campaign.
- D. Select the Marketing User checkbox in the user record.
Answer: D
NEW QUESTION # 35
The Salesforce Admin at Lake Tahoe Bank is implementing Financial Services Cloud and wants to roll up customer data at the client and group levels. What functionality can Rollup By Lookup (RBL) provide for this requirement?
- A. RBL calculations can not be disabled when importing data into your Salesforce org.
- B. Rollups for multiple joint owners are not supported
- C. When you edit a financial account record or primary Group membership, the Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the client and Group levels.
- D. An RBL rule displays summary calculations of financial account information, such as account balances.
- E. Rollup By Lookup (RBL) displays associated records for Financial Accounts. Financial Goals, and Opportunities.
Answer: C,D,E
NEW QUESTION # 36
Which two statements are true about Group Membership in Financial Services Cloud?
- A. Group Membership is modeled using the Account-Group Relationship object.
- B. With Group Membership settings you can define if a Group is the member's primary Group.
- C. Group Membership defines the role of the member within the Group.
- D. With Group Membership settings you can define who is the primary and who is the secondary member within the Group.
Answer: B,C
NEW QUESTION # 37
Cumulus Cloud Bank needs help onboarding new customers. The business process requires updating the Know Your Customer (KYC) document checklist and performing internal tasks in a predefined order.
However, during an internal audit, it was found that bankers often miss these tasks and still move to the next stage of the onboarding process.
What should a consultant recommend?
- A. Utilize Action Plan and Action INan Template.
- B. Utilize Financial Services Clouc flag Templates to flag missing items.
- C. Create an after-save trigger to generate reminder tasks.
- D. Utilize Chatter notifications for reminders.
Answer: A
Explanation:
Explanation
To help onboarding new customers, the consultant should recommend using Action Plan and Action Plan Template. Action Plan is a feature in Financial Services Cloud that allows you to automate and standardize common business processes or service requests, such as customer onboarding, account opening, or loan origination. You can use Action Plan to create templates that define the tasks, owners, and deadlines for each process or request. You can also use Action Plan to enforce task dependencies and completion criteria, so that bankers cannot skip or miss any tasks or move to the next stage of the onboarding process without meeting the requirements. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2
NEW QUESTION # 38
The Salesforce Administrator for Lake Tahoe Bank is receiving a report that a members Financial Account Balances are not adding up to the Financial Summary field in the related Household. Which two steps should the admin take to troubleshoot the issue?
- A. Ensure the reported Household is the Primary Group for the member
- B. Ensure RollUpByLookup Configuration is Active
- C. Ensure the Primary Group flag in the Account record is checked.
- D. Ensure that the member is the Primary Member in that Household
- E. Ensure a RollUpByLookup batch job is scheduled to run every 15 mins.
Answer: A,B
Explanation:
To troubleshoot the issue of Financial Account Balances not adding up to the Financial Summary field in the related Household, the Admin should take the following steps:
Ensure RollUpByLookup Configuration is Active, which is a custom setting that enables or disables the Rollup By Lookup (RBL) feature. RBL is a feature that allows users to aggregate data from financial accounts and display it at the client and group levels1.
Ensure the reported Household is the Primary Group for the member, which is a field on the Account object that indicates whether an account is the primary group for a contact or an individual. The primary group determines which financial summary fields are displayed on the contact or individual page2. Verified Reference: 12
NEW QUESTION # 39
Which setting can a system administrator enable in the user interface? (2 answers)
- A. Customizable recent tags
- B. Related list hover links
- C. Chatter messenger for specific users
- D. Printable list views
Answer: B,D
NEW QUESTION # 40
When importing records from a system outside of Salesforce, which ID should be used to prevent the data import from creating duplicates?
- A. Data Load ID
- B. Org ID
- C. External ID
- D. User ID
Answer: C
Explanation:
Explanation
To prevent the data import from creating duplicates when importing records from a system outside of Salesforce, you should use External ID. External ID is a custom field type that can be used to store unique identifiers from other systems. You can use External ID to match records during data import and avoid creating duplicate records in Salesforce. You can also use External ID to enable upsert operations, which can insert new records or update existing records based on the External ID value. Verified References: : Salesforce Help Article [5] : Salesforce Help Article [6]
NEW QUESTION # 41
Lake Tahoe Bank wants their customer reps to be able to see client records such as Person Accounts, but want to restrict access to Financial Accounts to protect the privacy of their clients. Which two steps can an admin take to ensure that all users see Person Accounts, but only specific users can view Financial Accounts?
- A. Change Organization-wide Defaults (OWD) sharing on the 'Person Accounts" object to 'Controlled by Parent.
- B. Change Organization-wide Defaults (OWD) sharing on the 'Financial Accounts* object to Private'.
- C. Change Organization-wide Defaults (OWD) shanng on the "Financial Accounts' object to Public Read/Write'.
- D. Grant users access to the Financial Account object with permission set
Answer: B,D
NEW QUESTION # 42
An investment banker is looking to take detailed meeting notes and share them easily with his colleagues while specifying confidentiality and meeting attendees. Which Financial Services Cloud feature should a consultant recommend in this scenario?
- A. Engagement Interaction
- B. Interaction Summary
- C. Notes
- D. Events
Answer: B
Explanation:
Explanation
Interaction Summary is the Financial Services Cloud feature that should be recommended in this scenario.
Interaction Summary is a standard object that represents a summary of an interaction with a client or a group of clients. It allows the user to capture meeting notes, specify confidentiality level, link related records, and associate interaction participants. Interaction Summary can be created from the Interaction Summary component on a record page or from the New Interaction Summary action on a list view or related list.
References: [Interaction Summary Object], [Create an Interaction Summary]
NEW QUESTION # 43
A consultant is configuring a demo for a customer but cannot create new residential loan application records.
What is prohibiting the consultant from creating a new residential loan application?
- A. The Residential Loan Application flow was not enabled in the setup.
- B. The administrator did not assign the Mortgage permission set to the user.
- C. The user does not have "Mortgage User" checked in their user record.
- D. The administrator did not enable "Allow Mortgage Access" in Setup.
Answer: B
Explanation:
Explanation
The administrator did not assign the Mortgage permission set to the user. The Mortgage permission set is required to access the Residential Loan Application object and its related objects, such as Loan Application Form, Loan Assessment, and Loan Product. Without this permission set, the user cannot create, edit, or view residential loan application records. The administrator can assign the Mortgage permission set to the user from the user detail page in Setup. References: [Mortgage Permission Set], [Residential Loan Application Object]
NEW QUESTION # 44
The Salesforce Administrator for Lake Tahoe Bank is receiving a report that a member's Financial Account Balances are not adding up to the Financial Summary field in the related Household. Which two steps should the admin take to troubleshoot the issue?
- A. Ensure the reported household is the Primary Group for the member.
- B. Ensure RollupByLookup Configuration is Active.
- C. Ensure the Primary Group flag in the Account record is checked
- D. Ensure a RollUpByLookup batch job is scheduled to run every 15 mins.
- E. Ensure that the member is the Primary Member in that Household.
Answer: A,B
NEW QUESTION # 45
A corporate investment banking associate at Cumulus Capital works with a trusted analyst to create pitch books, analyze market data, and generate reports. The banking associate is looking to capture sensitive deal information in Salesforce. They wish to share the deal information with the trusted analyst only, without giving access to Salesforce users up the management chain in the Role Hierarchy.
What should a consultant do in Salesforce to build the required sharing model for sensitive deal data?
- A. Use the Financial Deal object to captu^* y^ deal data anc* use Compliant Data Sharing to grant the analyst access.
- B. Use the Opportunity object to capture the deal data and use manual sharing to grant the analyst access.
- C. Use the Financial Deal object to capture the deal data and use restriction rules to block user access above the banking associate in the Role Hierarchy.
- D. Use the Opportunity object to capture the deal data and use Compliant Data Sharing to grant the analyst access.
Answer: C
Explanation:
To build the required sharing model for sensitive deal data, the consultant should use the Financial Deal object to capture the deal data and use restriction rules to block user access above the banking associate in the Role Hierarchy. The Financial Deal object is a custom object in Financial Services Cloud that allows you to track and manage complex deals that involve multiple parties, products, and stages. You can use the Financial Deal object to store sensitive deal information, such as deal name, amount, status, or participants. You can also use restriction rules to limit the visibility of Financial Deal records based on criteria such as role, profile, or ownership. Restriction rules can override the organization-wide default sharing settings and block user access to records that they would otherwise be able to see through the Role Hierarchy or other sharing mechanisms. Verified Reference: : Salesforce Help Article 1 : Salesforce Help Article 2
NEW QUESTION # 46
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. Action Plans
- B. Financial Services Cloud Standard
- C. FSC Insurance
- D. Lightning Scheduler Resource
- E. Mortgage
Answer: A,B,C
Explanation:
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 References: 12
NEW QUESTION # 47
What level of access can be set when sharing a document folder with users? (2 answers)
- A. Read-only
- B. Read/write
- C. Read/write/create/delete
- D. Read/write/create
Answer: A,B
NEW QUESTION # 48
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 each user's personal reports
- B. Move the opportunity reports into a folder with restricted access
- C. Use the show filter to filter report results and reduce records returned
- D. Update the sharing rules to limit user access to certain opportunity
Answer: C
NEW QUESTION # 49
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