Financial-Services-Cloud by Salesforce Actual Free Exam Questions And Answers

Question 1

It has been determined that integration with an external system is required, as the data needed by a wealth management client resides in another system. This data will be sent from the external system via an API, and Salesforce needs to be configured in preparation for the data.
Which two items should be configured?

A. A flow to get the data into Salesforce

B. A Lightning web component to restrict data from users

C. An integration User and Integration Profile to enable the connection

D. Objects and fields to store the data

Discussion 0

Correct Answer: C,D Vote an answer

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Question 2

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

A. Payments

B. Approvals

C. Commissions

D. Underwriting

E. Endorsements

Discussion 0

Correct Answer: A,B,E Vote an answer

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Question 3

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

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

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

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

Discussion 0

Correct Answer: A Vote an answer

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Question 4

Omni Script represents processes with fast, personalized, and consistent responses. This type extends the metadatatype and inherits its full name field. To use the Omni Script metadata type, what should the administrator enable in the Salesforce org?

A. Discovery Framework

B. Lightning Experience for Financial Services Cloud

C. Einstein Relationship Insights

D. Custom Domain

Discussion 0

Correct Answer: D Vote an answer

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Question 5

Lake Tahoe Bank is rolling out Financial Services Cloud and the VP of IT is concerned about the cost of the licenses. TheSystem 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 Services Cloud Standard

B. Financial Service Cloud Basic

C. Client Segmentation

D. Financial Service Cloud Extension

Discussion 0

Correct Answer: B Vote an answer

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Question 6

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. Configure Individual Record Type Mapper" custom metadata.

C. Enable "Use Person Account" custom setting.

D. Create custom fields on the Person Account object.

Discussion 0

Correct Answer: B Vote an answer

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Question 7

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

B. 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.

C. 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.

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

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

Discussion 0

Correct Answer: A,B,C Vote an answer

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Question 8

Planter Farm Credit Union provides loan and insurance products to farmers who operate individually as well as in collaboration with other neighboring farms & farmers. The collaboration can be seasonal or for a limited timeframe. What construct in Financial Services Cloud is most appropriate to represent such collaborative customer business operations?

A. Custom Relationship Group

B. Account with Record Type = Business

C. Contact-Contact Relationship

D. Standard Household

Discussion 0

Correct Answer: A Vote an answer

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Question 9

A company wants to convert its Salesforce Financial Services Cloud implementation from using the individual account model to using person accounts.
Which three things should a consultant do to prepare for the conversion?

A. Update all opportunities linked to individual account records to be owned by the individual account record's owner.

B. Ensure all individual account records to be converted are only linked to exactly one contact record.

C. Ensure each individual account to be converted is not a parent account of any other account records.

D. Ensure each account.phone field in the individual account record is blank.

E. Test out the conversion in a sandbox, including all integrations and customizations.

Discussion 0

Correct Answer: B,C,E Vote an answer

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Question 10

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. Create an after-save trigger to generate reminder tasks.

C. Utilize Chatter notifications for reminders.

D. Utilize Financial Services Clouc flag Templates to flag missing items.

Discussion 0

Correct Answer: A Vote an answer

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Question 11

A Salesforce administrator updating a record page to add a Chatter component to the Action Plan Lightning record page is unable to find the Chatter components for selection.
What is the reason for this?

A. Chatter has to be enabled for Action Plans via Chatter settings in setup.

B. Feedtracking has to be enabled for the Action Plan object.

C. Admin users have to be assigned the Action Plans permission set.

D. Salesforce is yet to roll out Chatter for the Action Plan object.

Discussion 0

Correct Answer: B Vote an answer

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