Free Salesforce Financial-Services-Cloud Practice Test & Real Exam Questions, Page 4

Question #43

An insurance company needs to ensure the record rollups aggregate information from related records for several objects in the Financial Services Cloud at a client orgroup level.
What should the administrator configure to meet the requirement?

A. To show all Primary Group member opportunities on a related list at the group level, the administrator should add Opportunities as a picklist value to the Household__c field on Account Contact Relationship.

B. To show all Primary Group member cases on a related list at the group level, the administrator should add Cases as a picklist value to the Rollup__c field on Account Contact Relationship.

C. Client-level records are aggregated by setting up client-level rollups to all primary group members.

D. When the administrator enables record rollups at the group level, all corresponding records are stamped with the Primary Group in the Rallup_c lookup field

Discussion 0

Correct Answer: D Vote an answer

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Question #44

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

A. Referral Automated Approvals

B. Round Robin Referral Routing

C. Accepting a Referral

D. Referral Conversion

E. Assigning a Referral

Discussion 0

Correct Answer: C,D,E Vote an answer

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Question #45

Cumulus Cloud Bank must provide its customer service staff with real-time access to customeraccounts, including the ability to view current transactions and balances. As a result, the bank expects a high volume of concurrent users at peak times.
Which option is most suitable?

A. Embed custom Lightning web components on the Account and Financial Account pages, and use custom Apex to make calloutsto the core system services.

B. Use the Data Consumption Framework to connect to the bank'smiddleware.

C. Use Salesforce Connect with External Objects to expose tables from the bank's core systems, and use custom Lightning web components to surfatKthem in the Salesforce Lightning Ul.

D. Use Salesforce ConnecHvith External Objects to expose tables from the bank's core systems, and use the standard user interface (Ul) components to surface the records in Salesforce Lightning Ul.

Discussion 0

Correct Answer: A Vote an answer

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Question #46

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?

A. 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?

B. Role Hierarchy-based sharing is disabled bydefault in CDS.

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

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

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

Discussion 0

Correct Answer: B,C,D Vote an answer

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Question #47

Lake Tahoe Bank, an existing Salesforce customer, is planning to implement Financial Services Cloud. Their Salesforce Admin is considering whether to use a new Salesforce org or upgrade the existing org. Which three of the considerations below indicate that a new Salesforce org is the better choice9

A. The current implementation is using a product-centric view and the bank wants to move to a customer- centric view.

B. Data migration is a big concern The current org has a large amount of data and the Bank wants to minimize data migration efforts.

C. The bank has limited redesign opportunities for business capabilities.

D. The bank wants to use this project as an opportunity toretire customization

E. Existing business capabilities and processes can be redesigned to deliver a higher business impact

Discussion 0

Correct Answer: A,D,E Vote an answer

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Question #48

A wealth advisor is trying to relate a client to their attorney using the Add Contact option on the relationship tree but can't find any reciprocal roles displayed in the related role lookup. What are two reasons for this?

A. Sharing rules have not beenset up for reciprocal roles.

B. The user should be using the Edit Group button to access reciprocal roles.

C. Reciprocal roles have not been created in the org.

D. The user should be using the Member Relationship button under the Actionable Relationship Center.

Discussion 0

Correct Answer: B,C Vote an answer

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Question #49

A bank recently sold its wealth management division and wants to improve its customers' digital experience.
The bank engaged Salesforce Professional Services to upgrade its existing Salesforce CRM to Financial Services Cloud and deliver its Bank of the Future vision.
Which three expected outcomes can serve as return on investment (ROI) justifications to the bank's chief financial officer (CFO)and investment committee?

A. Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers' financial needs and deepen client relationships.

B. Simplify the client onboarding process with proper tools to streamline customer discovery and internal reviews through renewal.

C. Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships.

D. Manage policy holder's interactions with customer service agents intelligently through the underwriting process.

E. Deliver connected and personalized digital experiences to the bank's customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank.

Discussion 0

Correct Answer: A,C,E Vote an answer

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Question #50

Which three insurance processes are managed by the Policy Administration component?

A. Commissions

B. Payments

C. Underwriting

D. Approvals

E. Endorsements

Discussion 0

Correct Answer: B,D,E Vote an answer

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Question #51

Which three of the following statements are correct about the Actionable Relationship Center Manager (ARC)?

A. ARC is certified to work with Person Accounts and Individual Accounts.

B. To enable users to see the ARC, you will need to add the component for ARC to the page layout.

C. The Salesforce Admin has to create a permission set for granting access to the ARC - FSC Lightning component.

D. The Association Type picklist controls the account-account relationship that display in the ARC.

E. ARC displays up to 5 related lists that have a configured compact layout.

Discussion 0

Correct Answer: B,D,E Vote an answer

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Question #52

The Salesforce Admin wants to make it easier for call center agents to complete some common tasks by setting up flowsand launch them from the Retail Banking Console. What does the Admin have to keep in mind when setting up Flows?

A. To open. edit, or create a Flow in Flow Builder, the user needs the Run Flows permission.

B. To use Financial Services Cloud Flows, you'll need the Financial Services Managed Package installed m the org and the Financial Services Cloud a permission setassigned to the user.

C. Flows can be used to provide step-by-step guidance for address changes, without the need for then agent to navigate to different screens.

D. To use a Flow, a user must have access to the underlying object and its field

Discussion 0

Correct Answer: B Vote an answer

Question #53

Salesforce provides a robust set of automation features to help save time and resources. For example, a system administrator can use Flow Builderto automate most of an organization's repetitive business processes.
Which use case is a suitable fit for Flow Builder?

A. Coordinate multiple flows and assign them to multiple teams or individuals.

B. Collect input from internal users with a form placed on a Lightning page cKlaunched by abutton.

C. Suggest offers and actions to users that are tailoredto meet an organization's unique business criteria.

D. Perform an operation for more records than schedule-triggered flows allow

Discussion 0

Correct Answer: B Vote an answer

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Question #54

A Financial Services Cloud (FSC) administrator wants to create a new FSC permission set that includes the Access Interest Tags for Financial Services Cloud permission.
Which two permission sets should be cloned to create this new permission set and give access to interest tags?

A. FSC Basic permission set

B. FSC Standard permission set

C. FSC Foundations permission set

D. FSC Extension permission set

Discussion 0

Correct Answer: C,D Vote an answer

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Question #55

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?

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

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

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

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

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

Discussion 0

Correct Answer: A,C,D Vote an answer

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Question #56

Jen, the Financial Advisor at Lake Tahoe Wealth Management Company wants to modify apublished Action Plan to support an additional task she needs in order to completean annual review for a client. How should Jen do this?

A. Use the 'task creator' tool to create a new task and associate with the existing Action Plan

B. Contact her Salesforce Administrator and get her to make the change to the Action Plan for her.

C. Create an independent Task not related to original Action Plan

D. Usethe Action Plan item feature to add an additional task to a published Action Plan.

Discussion 0

Correct Answer: D Vote an answer

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