[Feb 23, 2024] Financial-Services-Cloud Questions Truly Valid For Your Salesforce Exam!
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The FSC Accredited Professional Certification Exam covers a wide range of topics, including financial services industry trends, Salesforce Financial Services Cloud capabilities, and best practices for implementing and managing Salesforce Financial Services Cloud. Salesforce Financial Services Cloud (FSC) Accredited Professional certification exam is designed to assess a candidate’s ability to manage financial services products using Salesforce Financial Services Cloud, including managing client data and relationships, setting up financial accounts, and generating reports.
NEW QUESTION # 82
Which three considerations should a Salesforce Administrator be aware of when enabling Person Accounts in FSC?
- A. A Person Account is displayed to users as a single record that has both Account and Contact fields.
- B. Once Person Accounts are enabled in a Salesforce Org, they can't be disabled.
- C. Customizations to components and triggers need to be reviewed before upgrading to Person Accounts.
- D. A Person Account is displayed to users as a single record that has both Household and Contact fields.
- E. To transform Individual Records to Person Account Records, Admins can use the Data Loader, and the Insert Operation.
Answer: A,C,D
NEW QUESTION # 83
What is an option when customizing a report? (3 answers)
- A. Add a filter
- B. Add a gauge component
- C. Schedule a refresh time
- D. Add a grouping
- E. Summarize fields
Answer: A,D,E
NEW QUESTION # 84
Which 3 out of the box capabilities come with Financial Services Cloud Lead & Referral Management?
- A. Round Robin Referral Routing
- B. Accepting a Referral
- C. Referral Conversion
- D. Assigning a Referral
- E. Referral Automated Approvals
Answer: B,C,D
NEW QUESTION # 85
The investor relations director of a large insurance company just published a press release after the company's Quarterly Earnings Call to report about its digital transformation implementing Salesforce Financial Services Cloud (FSC).
Which three value outcomes should the company's stakeholders expect?
- A. Improved customer onboarding experiences by fast-tracking and simplifying document tracking and approvals via FSC Action Plans
- B. Achieved higher CSAT & NPS scores attributed to personalized customer experiences driven by shorter waits due to decreased average case handle times and improved self-service solutions via Einstein Bots for FSC
- C. Drove Advisor productivity with a daily task list, client life events, opportunities, and aggregated household information directly from D the FSC HomeT\e
- D. Streamlined the entire deal lifecycle with FSC. leveraging relationship maps and interaction history in business development/discovery D to accelerate pipe management and research
- E. Automated claims orchestration via straight through processing workflow rules from OmniStudio with minimal human intervention from insurance adjusters or underwriters, allowing claims to be completed faster and at scale
Answer: A,B,C
Explanation:
The following value outcomes should the company's stakeholders expect from implementing Salesforce Financial Services Cloud (FSC):
Achieved higher CSAT & NPS scores attributed to personalized customer experiences driven by shorter waits due to decreased average case handle times and improved self-service solutions via Einstein Bots for FSC. This outcome means that the company improved its customer satisfaction (CSAT) and net promoter score (NPS) metrics by providing customized and relevant interactions with customers, reducing their waiting time by handling cases more efficiently, and offering self-service options through chatbots powered by artificial intelligence.
Improved customer onboarding experiences by fast-tracking and simplifying document tracking and approvals via FSC Action Plans. This outcome means that the company enhanced its customer onboarding process by speeding up and streamlining the document management and approval workflow using Action Plans, which are features that allow users to create templates for common client processes, such as account opening, loan application, or financial review.
Drove Advisor productivity with a daily task list, client life events, opportunities, and aggregated household information directly from the FSC Home Page. This outcome means that the company increased its advisor productivity by providing them with a daily task list that shows their priorities and action items, a client life events component that shows important events in their clients' lives, an opportunities component that shows potential sales deals, and an aggregated household information component that shows a holistic view of their clients' financial situation, all on the FSC Home Page
NEW QUESTION # 86
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. Grant the user "Read" profile permission for the campaign.
- C. Select the Marketing User checkbox in the user record.
- D. Add the New button to the page layout using the page layout ________
Answer: C
NEW QUESTION # 87
The Actionable Relationship Center can display which of the following relationships in the tree pane? Select 3 answers.
- A. Account-Contact Relationships
- B. Any Related List for the selected object record
- C. Up to 5 Related Lists for an Account Record
- D. Up to 5 Related Lists for a non-Account Record
- E. Account-Account Relationships
Answer: C,D,E
NEW QUESTION # 88
The sales team at universal containers wants an easy solution to gather customer requirements and share presentations with their customers.
What should an administrator do to help the sales team achieve this? (2 answers)
- A. Use chatter files to share presentations.
- B. Create opportunity teams for customers.
- C. Add customers to libraries.
- D. Add customers to private Chatter groups
Answer: A,D
NEW QUESTION # 89
To access Financial Services Cloud Lightning Components "My Domain" must be enabled. How does the System Admin accomplish this?
- A. Register a subdomam using the My Domain wizard and then deploy it
- B. Go to Custom Settings and edit the Industries Settings
- C. Enable Communities
- D. Open a case with Salesforce Support
Answer: A
Explanation:
My Domain is a feature in Salesforce that allows you to create a subdomain for your org. You need to enable My Domain to access Financial Services Cloud Lightning Components, such as Actionable Relationship Center, Relationship Map, Life Events & Business Milestones, etc. To enable My Domain, you need to do the following:
Register a subdomain using the My Domain wizard in Setup > My Domain.
Deploy it to your users after testing it in your sandbox or developer org. Verified Reference: : Salesforce Help Article [7]
NEW QUESTION # 90
A Salesforce Admin is configuring a new Action Plan Template. One task in that template needs to be picked up by the next available Advisor. What assignment logic should the Admin use when configuring this template task?
- A. Account Team
- B. Queues
- C. Specific User
- D. Action Plan Creator
- E. Role
Answer: B
Explanation:
Explanation
To assign a task to the next available Advisor, the Admin should use Queues as the assignment logic when configuring the template task. Queues are collections of records that can be assigned to multiple users who share workloads and responsibilities. By using Queues, the Admin can ensure that any Advisor who is part of the Queue can pick up the task when they are available.
NEW QUESTION # 91
How should developers configure customized nodes for display in Actionable Relationship Center (ARC)?
- A. Reference the FlexCard in the Display properties of the custom ARC relationship graph.
- B. Select Use FlexCard from the node Display tab to show the node in a FlexCar
- C. Reference the Lightning web component in the Display properties of the custom ARC relationship graph.
- D. Select OmniScript from the node Actions tab U^jhow the node in an OmniScript.
Answer: A
Explanation:
Explanation
To configure customized nodes for display in Actionable Relationship Center (ARC), developers should reference the FlexCard in the Display properties of the custom ARC relationship graph. A FlexCard is a tool that allows users to create custom user interfaces for displaying data from Salesforce or external systems using OmniScripts and Integration Procedures. A custom ARC relationship graph is a metadata type that defines the nodes and edges of a custom relationship graph for ARC. By referencing the FlexCard in the Display properties of the custom ARC relationship graph, developers can customize the look and feel of the nodes and display data from various sources on them.
NEW QUESTION # 92
An investment bank is implementing Financial Services Cloud (FSC) to manage the deal pipeline. Each opportunity has confidential information that the deal team members must only view. In addition, each member needs the ability to take and share notes directly within Salesforce with others on the team.
Which three FSC features should be part of the solution design?
- A. Interaction Summaries
- B. Sharing Rules
- C. Financial Deal Management
- D. Complianthata Sharing
- E. Profiles
Answer: A,B,C
Explanation:
Explanation
The following FSC features should be part of the solution design for managing confidential deal information and notes sharing among deal team members:
Financial Deal Management: Financial Deal Management is a feature in Financial Services Cloud that allows you to track and manage complex deals that involve multiple parties, products, and stages. You can use Financial Deal Management to store confidential deal information such as deal name, amount, status, or participants. You can also use Financial Deal Management to associate opportunities, products, or tasks with a deal.
NEW QUESTION # 93
What are the valid organization-wide default options for the Account Object?
- A. Public Read/Write/Delete
- B. No Access
- C. Private
- D. Public Read/Write/Transfer
Answer: C
NEW QUESTION # 94
Which three related lists are visible within the Actionable Relationship Center associated with the Account object?
- A. Cases
- B. Financial Holdings
- C. Notes and Attachments
- D. Client Financial Goals
- E. Household Financial Accounts
Answer: A,D,E
NEW QUESTION # 95
The Actionable Relationship Center (ARC) is using the Association Type picklist to control the account-account relationships. Which three of the following names are Association Type picklist field values?
- A. Member
- B. Family
- C. Trust
- D. Group
- E. Peer
Answer: A,D,E
NEW QUESTION # 96
The investor relations director of a large insurance company just published a press release after the company's Quarterly Earnings Call to report about its digital transformation implementing Salesforce Financial Services Cloud (FSC).
Which three value outcomes should the company's stakeholders expect?
- A. Improved customer onboarding experiences by fast-tracking and simplifying document tracking and approvals via FSC Action Plans
- B. Achieved higher CSAT & NPS scores attributed to personalized customer experiences driven by shorter waits due to decreased average case handle times and improved self-service solutions via Einstein Bots for FSC
- C. Drove Advisor productivity with a daily task list, client life events, opportunities, and aggregated household information directly from D the FSC HomeT\e
- D. Streamlined the entire deal lifecycle with FSC. leveraging relationship maps and interaction history in business development/discovery D to accelerate pipe management and research
- E. Automated claims orchestration via straight through processing workflow rules from OmniStudio with minimal human intervention from insurance adjusters or underwriters, allowing claims to be completed faster and at scale
Answer: A,B,C
Explanation:
Explanation
The following value outcomes should the company's stakeholders expect from implementing Salesforce Financial Services Cloud (FSC):
Achieved higher CSAT & NPS scores attributed to personalized customer experiences driven by shorter waits due to decreased average case handle times and improved self-service solutions via Einstein Bots for FSC. This outcome means that the company improved its customer satisfaction (CSAT) and net promoter score (NPS) metrics by providing customized and relevant interactions with customers, reducing their waiting time by handling cases more efficiently, and offering self-service options through chatbots powered by artificial intelligence.
Improved customer onboarding experiences by fast-tracking and simplifying document tracking and approvals via FSC Action Plans. This outcome means that the company enhanced its customer onboarding process by speeding up and streamlining the document management and approval workflow using Action Plans, which are features that allow users to create templates for common client processes, such as account opening, loan application, or financial review.
Drove Advisor productivity with a daily task list, client life events, opportunities, and aggregated household information directly from the FSC Home Page. This outcome means that the company increased its advisor productivity by providing them with a daily task list that shows their priorities and action items, a client life events component that shows important events in their clients' lives, an opportunities component that shows potential sales deals, and an aggregated household information component that shows a holistic view of their clients' financial situation, all on the FSC Home Page
NEW QUESTION # 97
A financial services company wants to use the Financial Services Cloud Person Account data model. The company needs two Person Account record types, one to represent Individual customer and one to represent Individual independent advisors that send referrals.
What should the administrator do to set up the new record types?
- A. Create a record type on the Contact object.
- B. Enable "Use Person Account" custom setting.
- C. Create custom fields on the Person Account object.
- D. Configure Individual Record Type Mapper" custom metadata.
Answer: D
Explanation:
Explanation
To set up the new record types for Person Accounts, the administrator should configure Individual Record Type Mapper custom metadata. The Individual Record Type Mapper is a custom metadata type in Financial Services Cloud that defines how records are created when using certain features, such as Einstein Data Capture or Salesforce Inbox. The Individual Record Type Mapper maps Person Account record types to Individual record types, so that when a new Individual record is created from an email or calendar event, it automatically creates a corresponding Person Account record with the same record type. To configure Individual Record Type Mapper custom metadata, you need to go to Setup > Custom Metadata Types > Individual Record Type Mapper > Manage Records and create a new record for each Person Account record type and its matching Individual record type. Verified References: : Salesforce Help Article [8] : Salesforce Help Article [9]
NEW QUESTION # 98
Lake Tahoe Bank is rolling out Financial Services Cloud and the VP of IT is concerned about the cost of the licenses. The System Admin recommends using restricted licenses for users that need only limited access to Financial Service Cloud features. Which Financial Services Cloud permission set license enables user access to a license with contractual restrictions for Financial Services Cloud and can be used to grant restricted access to users like Bank Tellers?
- A. Financial Service Cloud Basic
- B. Client Segmentation
- C. Financial Services Cloud Standard
- D. Financial Service Cloud Extension
Answer: A
NEW QUESTION # 99
A retail bank is using Financial Services Cloud to support its operations. The bank has received complaints that its clients' documentation is often submitted late and when clients call, customer service agents are struggling with multiple systems to determine where the documentation is.
Which solution should a consultant suggest the client explore?
- A. Process Builder to create automatl&Socument requests for missing items
- B. A Marketing Cloud integration to manage client communications
- C. The Send Documents flow for Retail Banking
- D. An APEX solution to leverage the SendMail capabilities of Salesforce
Answer: C
Explanation:
Explanation
The solution that the consultant should suggest the client explore to improve its clients' documentation submission and tracking is the Send Documents flow for Retail Banking. The Send Documents flow for Retail Banking is a prebuilt flow that allows users to send documents requests to clients via email and track the status of the requests in FSC. The flow uses DocuSign eSignature integration to enable clients to sign and return documents electronically. By using the Send Documents flow for Retail Banking, the consultant can help the client streamline and simplify its document management process and improve its customer service agents' efficiency
NEW QUESTION # 100
Which of the following objects do support Group-Level Rollups?
- A. Tasks
- B. Alerts
- C. Action Plans
- D. Opportunities
- E. Financial Accounts
Answer: A,D,E
NEW QUESTION # 101
An insurance company aims to improve a call center's productivity. A detailed analysis discovered that agents spend a lot of time capturing data while adding and updating beneficiary details. Capturing premium payment details (payment date and frequency) is another time-consuming task. Which action should a Financial Services Cloud consultant take to resolve the issue?
- A. Create an Action Plan Template for capturing beneficiary data and payment information.
- B. Install an Insurance Data AppExchange package.
- C. Utilize Insurance Flow Templates.
- D. Provide a better user interface by building Lightning web components for beneficiary data and payment information.
Answer: C
Explanation:
Explanation
A Financial Services Cloud consultant can suggest utilizing Insurance Flow Templates to resolve the issue of improving the call center's productivity and reducing the time spent on capturing data for beneficiary details and premium payment details. Insurance Flow Templates are prebuilt flow templates that guide users through the steps of creating or updating insurance policies and beneficiaries in Financial Services Cloud. The templates can be customized to suit the specific needs and requirements of the insurance company. By using Insurance Flow Templates, the call center agents can streamline their data entry process and provide better service to their customers.
References:
[Insurance Flow Templates]
[Customize Insurance Flows]
NEW QUESTION # 102
What is the purpose of the AppExchange? (2 answers)
- A. Support users can install the Salesforce Console for Service customers
- B. Partners can download accounts and contacts to collaborate on sales deals
- C. Customers can share and install apps published by Salesforce partners
- D. Administrators can download and customize pre-built dashboards and reports
Answer: C,D
NEW QUESTION # 103
Which three insurance processes are managed by the Policy Administration component?
- A. Commissions
- B. Underwriting
- C. Approvals
- D. Payments
- E. Endorsements
Answer: C,D,E
Explanation:
The following insurance processes are managed by the Policy Administration component:
Payments: Payments are the amounts that a policyholder pays to an insurance company for a policy or a claim. You can use the Policy Administration component to manage the payment schedules, methods, and statuses for your policies and claims. You can also use the Policy Administration component to integrate with external payment systems and track the payment transactions and balances for your policies and claims.
Approvals: Approvals are the processes that an insurance company follows to review and authorize a policy or a claim. You can use the Policy Administration component to configure and automate the approval workflows, rules, and criteria for your policies and claims. You can also use the Policy Administration component to assign approvers, send notifications, and monitor the approval statuses and histories for your policies and claims.
Endorsements: Endorsements are the changes or modifications that a policyholder requests or an insurance company makes to a policy. You can use the Policy Administration component to manage the endorsement requests, types, and statuses for your policies. You can also use the Policy Administration component to update the policy details, coverages, premiums, or terms based on the endorsements for your policies. Verified Reference: : Salesforce Help Article [9] : Salesforce Help Article [10] : Salesforce Help Article [11]
NEW QUESTION # 104
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