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Financial-Services-Cloud Salesforce Financial Services Cloud (FSC) Accredited Professional (AP) exam Questions and Answers

Questions 4

Which three permission sets grant access or extend permissions for record alerts in Financial Services Cloud (FSC)?

Options:

A.

OmniStudio Admin permission set

B.

FSC Standard permission set

C.

FSC Foundations permission set

D.

FSC Basic permission set

E.

OmniStudio User permission set

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Questions 5

A financial services company has found that more than two-thirds of customer onboarding processes are manually done by client specialists, consuming large amounts of time and resulting in errors in the sales process. The company contacts a consultant to learn how to leverage Financial Services Cloud features to improve the current state.

What should the consultant consider from a customer onboarding perspective?

Options:

A.

If the company struggles with the low efficiency of collecting data in questionnaires and meeting compliance with the company policies. Action Plan can be used to improve the current state.

B.

If the company struggles with the low effi^ency of tracking required documents for its customers and creating templates for ^ checklists. Discovery Framework is recorrU^ided to improve the current state.

C.

If the company struggles with the low efficiency of tracking required documents for its customers and creating templates for checklists, Action Plan is recommended to improve the current state.

D.

If the company struggles with the low efficiency of collecting data in questionnaires and meeting compliance with the company policies. Discovery Framework can be used to improve the current state.

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Questions 6

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?

Options:

A.

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

B.

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

C.

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

D.

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

E.

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

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Questions 7

A large insurance company hired a consulting firm to improve customer experiences for customers that want to complete standard processes online, such as getting an insurance quote or submitting a claim.

Which three standard Insurance Platform components can digitally enable these core insurance operations?

Options:

A.

Policy Administration

B.

Claims Management

C.

Quote, Rate, and Apply

D.

Quote Creathqn Toolbox

E.

MobileClaimSubmission

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Questions 8

A bank needs help with many of its processes taking too long to complete. Many of its challenges are due to issues with handoffs between teams. The challenges also include users transferring control to the wrong person or team or forgetting to transfer it at all.

Which two Financial Services Cloud capabilities should help address these challenges?

Options:

A.

Action Plans

B.

Financial Accounts

C.

Omni Scripts

D.

Roll-up Summaries

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Questions 9

Lake Tahoe Bank is implementing Financial Services Cloud. The bank's new business processes require that Financial Advisors can add individuals to more than one Group or Household using Multiple Relationship Groups. Where do Admins enable Multiple Relationship Groups?

Options:

A.

Object Settings

B.

Custom Settings

C.

Lightning Page Editor

D.

Profiles

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Questions 10

During a project's design phase, a consultant must provide a Financial Services Cloud solution that can support Compliant Data Sharing (CDS). What are three things the consultant should consider regarding CDS?

Options:

A.

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

B.

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 administrator take to configure the Financial Account object and the Account Lightning record page to meet the design?

C.

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

D.

Role Hierarchy—based sharing is disabled by default in CDS.

E.

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

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Questions 11

What is a key step in identifying different business processes and outlining encompassing system flows based on the existing environment when setting up Salesforce Financial Services Cloud (FSC)?

Options:

A.

Creating a new Salesforce instance from scratch for the customer

B.

Importing the customer's existing data into Salesforce FSC without any modifications

C.

Implementing a generic, one-size-fits-all solution for all customers

D.

Conducting a gap analysis between the customer's current processes and Salesforce FSC capabilities

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Questions 12

How should developers configure customized nodes for display in Actionable Relationship Center (ARC)?

Options:

A.

Select Use FlexCard from the node Display tab to show the node in a FlexCar

B.

Reference the Lightning web component in the Display properties of the custom ARC relationship graph.

C.

Select OmniScript from the node Actions tab U^jhow the node in an OmniScript.

D.

Reference the FlexCard in the Display properties of the custom ARC relationship graph.

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Questions 13

Which of the following statements are correct when creating Financial Goals?

Options:

A.

Users can only create savings oriented goals.

B.

Users require the Financial Goals permission set to works with Financial Goals

C.

Users can associate a goal with a specific Financial Account.

D.

Users can create goals for paying down debt

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Questions 14

Which three types of Account-Account relationships are displayed in the Actionable Relationship Center?

Options:

A.

Accounts & Businesses

B.

Accounts & Members

C.

Accounts & Peers

D.

Accounts & Groups

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Questions 15

The Salesforce Admin of Lake Tahoe Bank wants to implement Financial Services Cloud using the individual object model. What are the steps to disable person accounts? (Choose Three)

Options:

A.

Log a case with Salesforce to perform the conversion from Person Accounts to the individual model.

B.

Assign the Person Account record type to the user profiles.

C.

Disable the Person Account custom setting.

D.

Remove Person Account record types from the Individual Record Type Mapper.

E.

Assign the Individual record type to the user profiles.

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Questions 16

How should developers configure customized nodes for display in ARC?

Options:

A.

Select Use LWC from the node Display tab to show the node in a Lightning Web Component

B.

Reference the Lightning WebComponent in the Display properties of the custom ARC relationship graph

C.

Select Use FlexCard from the node Display tab to show the node in a FlexCard

D.

Reference the FlexCard in the Display properties of the custom ARC relationship graph

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Questions 17

The Salesforce Admin at Lake Tahoe Bank considering implementing Financial Services Cloud. What is the best way for the Admin to access a Financial Services pre-configured org, including data and the right licenses, to learn about the product?

Options:

A.

Request a 30-day Financial Services Cloud trial org

B.

Request a Salesforce developer org.

C.

Purchase one license of Financial Services Cloud and install it in a production org.

D.

Spin up a Salesforce sandbox org.

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Questions 18

Lake Tahoe Bank allows more than two owners on Financial Accounts. The Salesforce Admin wants to make sure that balances are rolled up to all joint owner's primary Households. Which 2 options does the Salesforce Admin have to accomplish this?

Options:

A.

Enable all RBL (Rollup By Lookup) rules to ensure the balances are rolled up to the household level.

B.

Enable the 'Enable Rollup Summary' in custom settings

C.

Create custom RBL (Rollup By Lookup) rules to rollup the joint owner balances.

D.

Disable RBL (Rollup By Lookup) rules that rollup balances using joint owner on Financial Account.

E.

Enable RBL (Rollup By Lookup) rules that rollup balances using Financial Account Role for joint owners.

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Questions 19

Rachel Addams belongs to two households:

1. The Addams household where Rachel lives with her spouse, Nigel Addams. Rachel is the client and, as such, is listed as the primary member of that household. This household is also Rachel's primary group.

2. The Symonds household. This household belongs to Rachel's parents, but Rachel manages their finances. Rachel is considered the beneficiary of this household.

In addition, Rachel's household has a related account, the Addams Charitable Trust, and a related contact, Ivan M. Kohl, attorney at law.

What should be the relationships between the parties when the Financial Services Cloud consultant sets up Rachel's person account?

1.Primary Group Household - Addams Household

Primary Member - Rachel Addams

Spouse - Nigel Adams

Trustee - Addams Charitable Trust

Household - Symonds Household

Primary Member - Neil Symonds

Beneficiary - Rachel Addams

Related Accounts - Addams Charitable Trust

Related Contacts - Ivan M. Kohl

A financial services company needs to transform the individual data model to person accounts in Financial Services Cloud (FSC), and its consulting partner is helping decide the sequence of the user stories in the design phase.

What should the implementation team do as the top priority during planning?

Options:

A.

Perform a data backup.

B.

Enable a person account in a sandbox.

C.

Configure Person Account record types.

D.

Enable person accounts in FS

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Questions 20

Which three standard fields are available to track a customer’s retirement gial progress?

Options:

A.

Contributions

B.

Actual value

C.

Total Value

D.

Target value

E.

Target Date

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Questions 21

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

Options:

A.

Referral Conversion

B.

Assigning a Referral

C.

Round Robin Referral Routing

D.

Accepting a Referral

E.

Referral Automated Approvals

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Questions 22

Cumulus Bank has branches in multiple countries that are required to report in local currency, while the corporate headquarters office wishes to see reports in a single currency (the corporate currency).

Which solution should a consultant recommend to meet these requirements?

Options:

A.

Set the default currency for head office and have the regions download their reports to Excel and convert them manually.

B.

Use a third party from AppExchange add-on to implement currency conversions.

C.

Enable multiple currencies and advanced currency management, and set a corporate currency for the corporate headquarters office.

D.

Allow users to set their preferred currency in their profile and design reports that convert currencies for the user running the report.

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Questions 23

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?

Options:

A.

Feed tracking has to be enabled for the Action Plan object.

B.

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

C.

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

D.

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

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Questions 24

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 or group level.

What should the administrator configure to meet the requirement?

Options:

A.

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.

B.

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

C.

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

D.

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.

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Questions 25

What actions can a Wealth Advisor take from the Life Events card7

Options:

A.

Create Case

B.

Create Lead & Referral

C.

Open an Account

D.

Request Record Approval

E.

Create Opportunity

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Questions 26

Which two statements are true about Group Membership in Financial Services Cloud?

Options:

A.

Group Membership defines the role of the member within the Group.

B.

With Group Membership settings you can define if a Group is the member's primary Group.

C.

With Group Membership settings you can define who is the primary and who is the secondary member within the Group.

D.

Group Membership is modeled using the Account-Group Relationship object.

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Questions 27

Our Personal Banker Hank Burton is learning to use Action Plans to ensure compliance in the client onboarding process. Where can Hank see Action Plan Tasks? (2 options)

Options:

A.

Hank will be able to see the Action Plan tasks on the related list of the Account page layout.

B.

Hank will be able to see the Action Plan Tasks assigned to him on the standard Salesforce task list.

C.

Once the Action Plan is assigned, Hank can see the related Tasks on the Timeline.

D.

Hank will be able to see the Action Plan Tasks assigned to him on his calendar.

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Questions 28

Lake Tahoe Bank's System Administrator is implementing intelligent Need-Based Referrals in Salesforce. Referrals are modeled on the Lead object. Which three Lead features can the System Admin use for Intelligent Need-Based Referrals?

Options:

A.

Lead Routing

B.

Web to-Lead

C.

Lead Assignment Rules

D.

Lead Approval

E.

Einstein Lead Scoring

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Questions 29

Cumulus Cloud Bank, a major financial services provider, has engaged Salesforce Professional Services to transform its operations with Financial Services Cloud (FSC). The Addams family are wealth management clients with the following relationships:

• The wife and her husband are part of the Addams Household.

The wife is the primary member, and together the couple run the Addams Charitable Trust.

• The wife is also part of the Symonds Household with her father as the primary member. Which tool should the Salesforce FSC consultant recommend so a wealth manager could make sense of this complex data to provide impeccable service to the Addams family and discover new business opportunities?

Options:

A.

Data Filtering and Sorting in Tableau Desktop

B.

Financial Services Cloud Einstein

C.

Data Visualization with Marketing Cloud Intelligence

D.

Actionable Relationship Center (ARC), an advanced visualization engine

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Questions 30

Our Personal Banker Hank Burton wants to encourage his customers to provide required documents for a loan application. He creates Document Checklist Items that help his customers to manage file uploads to speed up loan approval. For which of the following records does Salesforce support Document Checklist Items out of the box? (Choose Three)

Options:

A.

Contact

B.

Lead

C.

Account

D.

Residential Loan Application

E.

Opportunity

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Questions 31

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?

Options:

A.

FSC Foundations permission set

B.

FSC Extension permission set

C.

FSC Standard permission set

D.

FSC Basic permission set

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Questions 32

A consulting firm is asked to add Events and Milestones to a Lightning record page to give financial advisors deeper insights into their customers' lives.

What should the consultant configure to enable advisors to capture Once-in-a-Lifetime events and, at the same time, prevent users from accidentally creating more than one event of such an event type?

Options:

A.

Once-in-a-Lifetime event types

B.

Special event types

C.

Single event types

D.

Unique event types

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Questions 33

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?

Options:

A.

When you work with Action Plans, you first create Action Plan Templates

B.

Action Plans require a monthly license fee per user

C.

Action Plans can be used to schedule appointments with the Bankers

D.

Action Plans make it easy to create reports and dashboards, so you can monitor progress and ensure compliance

E.

Action Plans can be used to automatically assign task owners and deadlines for specific client engagements

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Questions 34

How should developers configure customized nodes for display in the Actionable Relationship Center (ARC)?

Options:

A.

Reference the Lightning web component in the Display properties of the custom ARC relationship graph.

B.

Select Use Flex Card from the node Display tab to show the node in a Flex Card

C.

Reference the flex Card in the Display properties of the custom ARC relationship graph.

D.

Select Omni Script from the node Actions tab to show the node in an Omni Script.

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Questions 35

Which two statements are true for a Group in Financial Services Cloud?

Options:

A.

Financial Services Cloud includes a group record type for households

B.

A group is a type of account record that people and businesses can be related to through the Financial Account relationship object

C.

A group is a type of account record that people and businesses can be related to through the account contact relationship object.

D.

Financial Services Cloud includes a group record type for businesses

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Questions 36

The Salesforce Admin at Lake Tahoe Wealth Management Company wants to ensure that the advisors at his firm can quickly see the most important client data in the Actionable Relationship Center (ARC). What must the Admin configure for each object to display the most important fields on the side panel of ARC?

Options:

A.

Compact Layout

B.

Page Layout

C.

Search Layout

D.

Lightning Record Pages

E.

Field Sets

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Questions 37

Cumulus Bank's mortgage department is currently using spreadsheets to gather client data for mortgage applications. The bank is interested in improving the efficiency of this process.

Which two features should a consultant suggest to Cumulus Bank to implement?

Options:

A.

The standard mortgage flow templates to build a mortgage flow in Financial Services Cloud

B.

Flow Builder to automate these business processes

C.

A Mortgage Application’ custom object to hold the collected client data

D.

Data Import Wizard to upload the data collected in spreadsheets

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Questions 38

A financial services company would like its users to be able to relate two business accounts. What should the administrator configure to meet the requirement?

Options:

A.

Create a new Contact Reciprocal Role for the required value.

B.

Update the Role picklist on the Account-Account Relationship object with new value.

C.

Create a new Account Reciprocal Role for the required value.

D.

Update the Role picklist on the Account-(?ontact Relationship object with new value.

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Questions 39

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?

Options:

A.

Create custom fields on the Person Account object.

B.

Configure Individual Record Type Mapper" custom metadata.

C.

Create a record type on the Contact object.

D.

Enable "Use Person Account" custom setting.

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Questions 40

Personal Banker Hank Burton is questioning his Referral Score shown in Salesforce Financial Services Cloud. When is the Referral Score updated?

Options:

A.

The Referral Score updated when a referral is convened to an Opportunity or closed.

B.

The Referral Score updated when a lead is created using the referral record type.

C.

The Referral Score updated when a referral is assigned from the queue to a user.

D.

The Referral Score updated when an opportunity associated with the Referral is Closed Won

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Questions 41

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?

Options:

A.

Branch Unit Related Record report types have related object names including Lead, Account, and Contact but exclude Financial Account.

B.

Bankers with Branches with Opportunities, Accounts. Leads, and Contacts report types are available for creating reports with Branch Unit Related Records.

C.

The reportable objects include Banker. Branch Unit, Branch Unit Related Records, and Branch Unit Customer.

D.

When Branch Unit is the primary object, the administrator can select Branch Unit Customers or Branch Unit Related Records as related objects.

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Questions 42

Which setting in Action Plans helps to avoid non working hours, company holidays, and other non working days for deadline calculation?

Options:

A.

Sync with Company Calendar

B.

Skip Non-Work Days for Deadlines

C.

Skip Non-Work Days For Tasks

D.

Skip Non-Work Days for Action Plans

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Questions 43

Lake Tahoe Bank is evaluating Financial Services Cloud to help them deliver a customer-centric view. They currently have a heavily customized Salesforce implementation with a product-centric design. Lake Tahoe Bank wants to make sure planned changes have a minimal impact on users during implementation. What is the recommended approach for implementing Financial Services Cloud at Lake Tahoe Bank?

Options:

A.

Implement Financial Service Cloud in a new org (Green Field) and redesign business capabilities in Ihe new org.

B.

Implement Financial Service Cloud in a Trial org and convert the Trial org to production org.

C.

Implement Financial Service Cloud in the existing org (Brow Field).

D.

Implement Financial Service Cloud in the existing org's Sandbox and then deploy to production org to mitigate the end-user impact

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Questions 44

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?

Options:

A.

Financial Services Cloud Standard

B.

Action Plans

C.

Lightning Scheduler Resource

D.

FSC Insurance

E.

Mortgage

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Questions 45

A Financial Services Cloud (FSC) administrator is assigning permission set licenses to users, including personal bankers. Which permission set license is recommended for this set of users?

Options:

A.

FSC Foundations permission set license

B.

FSC Basic permission set license

C.

FSC Extension permission set license

D.

FSC Standard permission set license

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Questions 46

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

Options:

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.

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

D.

Create an independent Task not related to original Action Plan

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Questions 47

What 2 considerations should the Salesforce Administrator review before implementing Flow for customer onboarding?

Options:

A.

Use Field Level Security on Milestones

B.

Flow for Financial Service Cloud is not available for the Individual Object Model.

C.

Flow Screen Input Components can only be used in Financial Service Cloud Flow Templates

D.

The Flow users require a Flow Permission Set License.

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Questions 48

A financial services company is migrating a legacy customer relationship management system to Financial Services Cloud (FSC). The company is requesting that its consulting partner introduce specific customer interaction features mapped to its business processes.

What should the consultant consider when introducing the FSC features?

Options:

A.

If there is a business process for tracking the customer life events and milestones, and timely reminding of opportunities, the Action Plan component is recommended to use.

B.

If there is a business process for limiting role-based data visibility, the Interaction Summaries component is recommended to use.

C.

If there is a business process for taking detailed notes for client meetings and adding action items, the Action Plan component is recommended to use.

D.

If there is a business process for showing common interests and needs across the company's clients, the Interaction Summaries component is recommended to use.

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Questions 49

How can the Salesforce Admin help agents who deal with a large number of customers on a daily basis, quickly scan the Life Events component and find the information they need without much effort?

Options:

A.

The Admin can customize the order of life events to be set in chronological order.

B.

The user can change the color of important life events to red.

C.

The Admin can change the color of important life events to red.

D.

The user can customize the order of life events to be set in chronological order

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Questions 50

Which step is required to give a group of users access to a Financial Deal?

Options:

A.

Change organization-wide defaults (OWD) sharing on the Financial Deal object to Public Read/Write.

B.

Create a Financial Deal permission set and assign it to the users that should have access to Financial Deals.

C.

Share a financial deal record with a group by adding them as participants to the record from the Financial Deal Participants related list,

D.

Update Industries Settings to give users access to the Financial Dew object.

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Questions 51

An administrator is logged into Data Loader with their own credentials to insert new Business Account records into their Salesforce environment. They forget to specify the Account Owner field in the import file.

Assuming there are no other issues, what should happen when the administrator uploads the import file?

Options:

A.

The import will succeed, and the Account Owner field will be left blank.

B.

The import will succeed, and the administrator will be prompted to select a user.

C.

The import will fail, since all records in Salesforce must have an owner.

D.

The import will succeed, and the administrator will be named as the default Account Owner.

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Exam Name: Salesforce Financial Services Cloud (FSC) Accredited Professional (AP) exam
Last Update: Jun 17, 2024
Questions: 170
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