Summary Financial Service Cloud Certification Exam Q&A Spring 2023.
Financial Service Cloud Certification Exam Q&A Spring 2023. Does FSC require Lightning? - Yes What is included in an FSC license? A. Lightning Scheduler B. Action Plans C. Einstein Analytics for Financial Services D. FSC for Community Which of the following is NOT an area that Salesforce Financial Services Cloud serves? A. Asset Management B. Corporate & Institutional Banking C. Legal Services D. Lending Services What are the challenges Financial Institutions face? (Select all that apply) A. Regulatory compliance B. Rising class of new competitors C. Not enough data D. Isolated data and outdated systems Which of the following statement is true of Financial Services Cloud? A. You need to assign only the Financial Services Cloud license before you can access the product features B. Financial Services Cloud sits on top of Sales and Service Cloud C. Financial Services Cloud is an app you buy from AppExchange D. Financial Services Cloud is for only Wealth Management companies A banking customer is using Sales Cloud but their Admin is considering whether Financial Services Cloud would be a better solution to meet their business needs. What is the best way for the Admin to access a Financial Services org with pre-configured data to play around and learn what's in it? A. Hop on a 30-day Financial Services Cloud trial org B. Request a Salesforce developer org C. Purchase one license of an FSC production org D. Spin up a Trailhead challenge org You are getting started with a Financial Services Cloud org. What's a reason why you cannot see the Lightning components and any pre-configured sample data after you set up "My Domain"? A. Contact Salesforce to enable "My Domain" B. Confirm that you click "Deploy to Users" to permanently deploy the custom domain to users C. You need to switch to Salesforce Classic D. It is working as designed. You need to configure Financial Services Cloud to create new Lightning components and sample data. How do you give users access to use Financial Services Cloud? A. Assign a Salesforce License and select the right profile B. Assign a Salesforce License, Financial Services Cloud Permission Set License, and the applicable Permission Sets C. Assign a Salesforce License and the Financial Services Cloud Permission Set License D. Every user automatically gets access to the full features of Financial Services Cloud when you install the package Which Financial Services object would you use to store Bank Accounts data? A. Charges and Fees B. Assets and Liabilities C. Financial Account D. Financial Holding Which of these Object Types are part of the Financial Services Cloud Data Model (Select 3) A. FSC Packaged Objects B. FSC Marketing Objects C. Sales or Service Objects D. FSC Standard Objects E. Action Plan Objects What object do you use to model a client in Financial Services Cloud? A. Account B. Person Account C. Contact D. Create a custom object Which object would you use to model the relationship between business contact and the client on the relationship group? A. Account Contact Relationship B. Account Account Relationship C. Contact Contact Relationship and Reciprocal Role D. Reciprocal Role Can Household be a part of a Group in Financial Services Cloud? Which of these statements is true for the Person Accounts Model? (2 correct answers) A. The Person Account record type can be used when a client is a business or an institution. B. The Person Account model uses the standard Account object to hold all of the details about a person. The Account object has been extended with custom fields, record types, and more. C. Person Accounts can not be related to cases, tasks, or calls. D. The Person Account represents all aspects of the person. Data includes personhood details, such as birth date or tax ID number, and dealings with your organization, such as review frequency or service tier Person accounts store information about individual people by combining certain account and contact fields into a single record. Using the Object Manager, on which Object do you configure the Person Account Page Layout? A. The Person Account Record Type on the Account Object B. The Person Account Record Type on the Contact Object C. The Person Account Object True or False: After Person Accounts is enabled, it can't be disabled. True or False Relationship Management enables you to (Check the 3 that apply) A. Define who are the members of a Relationship Group. B. Define the Role of the Member of the group C. Display Financial Holding Data D. Define Primary Group for a Member Which information can you find under the Relationships Tab? - (Check the 3 that apply) A. Summary information about Total Financial Accounts. This includes total assets under management at your firm, the Category (i.e. Platinum.), client interactions, including the last interaction and the next interaction scheduled in the future. B. Primary household Information, including the members of the household and how the household is related to other groups. C. Related accounts — accounts not directly included in the primary household. D. Related contacts that play a role in the financial world of the client (i.e a family lawyer) Which of the following are FSC components that visualize groups and relationships in Lightning pages? (Check the 2 that apply) A. Relationship Map and Group Builder B. Related Accounts C. Goal to Group Member Mapping D. Person Life Events Sam is the Salesforce Admin for Valley Bank. The bank's financial advisors are complaining they can't see an accurate summary of their client's financial data as clients often change households. Sam wants to give his financial advisors a better view of the client's complete financial situation. How can he set this up using FSC? A. Create a custom object to track the client's financial data B. Use Process Builder to create a workflow to summarize data at the Person Account level C. Set client's financial data to be rolled up using Primary Group feature Scott Adams is opening a savings account at his mom's bank. The personal banker Hank Burton wants to make sure all Scott's financial data is rolling up to his parent's household, Adams Household. Rachel Adams, Scott's mom already is the primary member of the Adams Household. How can the banker accomplish this? A. Make the Adams Household Scott's primary group and make him the primary member. B. Make the Adams Household Scott's primary group and edit the Activities & Objects to roll up. C. Disable the primary group setting for Scott on the Adams Household. Where do you enable Enable Multiple Relationship Groups? A. Lighting Page Editor B. Custom Settings C. Object Settings Rollup summary fields aren't available in a Partial Copy sandbox. What is one way you can solve for this limitation? A. Create a Full sandbox or install the Financial Services Cloud managed package in a Partial Copy sandbox B. Contact Salesforce to enable Rollup Summary fields in the partial sandbox C. Configure Rollup Summary using Formula fields - A. Create a Full sandbox or install the Financial Services Cloud managed package in a Partial Copy sandbox Which of these statements are true for Rollups in Financial Services Cloud? A.Rollups are done at both the client and group levels B. All financial accounts information, such as account balances are calculated and summarized at the Financial Account Summary level C. Activities can not be rolled up on the activity timeline at group/household level. What happens when you make changes to a Financial account record or primary group membership? A. The rollup by lookup (RBL) configuration automatically updates the corresponding RBL summaries at the client and group levels. B. The Admin needs to update the rollup by lookup (RBL) rules. C. The Admin has to deactivate the Rollup By Lookup (RBL) rules and then force RBL recalculations. What Actions can you take from Life Event card? Select all that apply! A. Create Opportunity B. Create Case C. Request Record Approval D. Create Lead and Referral Not all life events or business milestones apply to every customer. To create a better customer experience, you can hide the life events or business milestones a customer hasn't achieved or is unlikely to achieve in the future. Which of the following statements are correct? A. When you hide a life event or business milestone type, it doesn't appear on the component until you add an event or milestone of that type. B. The option to hide life event types or business milestone types is not available in the Communities version of the Life Events or Business Milestones component. C. It is possible to hide Sensitive Life Event or Business Milestone Types in the Insurance Agent Portal. D. Life Events can not be displayed on the Household level of the Account Record. Financial Advisors can create a financial goal to track a client's progress toward major purchases, retirement savings, or other life goals. Which statements are correct? A. You can only create savings-oriented goals. B. You can't create a goal for paying down a debt. C. You can associate a goal with a specific financial account. D. Financial Goals require the Financial Goals permission set to be visible to a user. Can Financial Goals get summarized on the household level? Which of these statements is correct? A. To give users access to the new action plans feature, you must add the Action Plans permission set to the user. B. Lightning is not required to enable Action Plans C. To assign the Action Plans permission set the user must have a Financial Services Cloud license. D. Assigning the Action Plan permission set automatically assigns an Action Plans permission set license to the user. Which of these statements is not correct about the visibility of Action Plan Tasks? A. Once the Action Plan is assigned, you can see the related Tasks on the Timeline B. The user can see tasks on the homepage if the Task Card is applied to the homepage. C. Users will be able to see the Action Plan tasks assigned to them through the standard Salesforce task lists. D. Users will be able to see the Action Plan tasks on the related list of the Account page layout. Which one of the following statements is not correct about Action Plans? A. Enhance collaboration and productivity by automatically assigning task owners and deadlines for specific client engagement, such as account openings, loan approvals, and claims processing. B. Capture repeatable tasks in templates and then automate the task sequences with an action plan. C. Automatically schedule the next appointment with the Advisor D. Manage customer engagements consistently and collaboratively with automated and compliant task orchestration. Can you activate the Action Plan via Process Builder? Which feature in Financial Services Cloud helps businesses identify, track, and route customer needs? A. Intelligent Needs-Based Referrals B. Lightning App Builder C. Relationship Builder and Map D. Surveys How can you set up Referral creation? A. As a global action B. As a standard action C. On a Community D. As a Flow A feature that captures, refers, routes, and prioritizes customer needs across business lines A. Expressed Interest B. Report C. Referrals D. Opportunity What functionality is included in the Financial Services Cloud Extension license? (2 correct answers) A.It enables user access to the Actionable Relationship Center Lightning component B. It enables user to configure Compliant Data Sharing C. It enables user access to the Action Plans feature D. It enables user access to Download Analytics Data and Install E. Analytics Templated Apps True or False? The Lightning Component for the Actionable Relationship Center can only be added to the page layout for the Account or the Contact object. True False A user is not able to see the Actionable Relationship Center tab in his Financial Services Cloud Wealth Management App. What steps should the Salesforce Admin take to troubleshoot this issue? (2 correct answers) A. Check the user's permission assignments and make sure the Financial Services Cloud Extension License and the Financial Services Cloud Extension Permission Set are assigned to that user. B. Log a Salesforce support ticket to add the Actionable Relationship Center tab to the Wealth Management App. C. Check if the Actionable Relationship Center Tab was created as a custom tab and the Lighting Component was added to the page layout. D. Remove the Relationship Map. True or False? A button to "Open Relationship Center" can be added to Account, Contact and Opportunity page layouts. Tru False - False The Actionable Relationship Center can display which of the following relationships in the tree pane? Select 3 answers. A. Account-Account Relationships B. Any Related List for the selected object record C. Up to 5 Related Lists for an Account Record D. Account-Contact Relationships E. Up to 5 Related Lists for a non-Account Record Kim Johnson, a client of Lake Tahoe Bank, hired Liz Obrian from Pine Cone Law Firm as her new lawyer. The Advisor wants to capture that information in the Actionable Relationship Center. What entities in Financial Services Cloud will the Advisor use to create this relationship? A. Account-Account relationship to add Pine Cone Law Firm and Contact-Contact relationship to add Liz Obrian. B. Account-Account relationship to add Pine Cone Law Firm and Account-Contact relationship to add Liz Obrian. C. Account-Contact relationship to add Pine Cone Law Firm, Contact-Contact relationship to add Liz Obrian. The Salesforce Admin wants to change the fields that are showing on the Actionable Relationship Center Household Card. How can the Admin achieve this? A. Change the fields directly from the card. B. Edit Household Page Compact Layout on the Account Object. C. Edit Household Page Compact Layout on the Contact Object. D. Use the Schema Builder to update the field on the Household Card. What is the maximum number of fields that can be displayed on the ARC Record Card? A. 5 B. 2 C. 3 D. 10
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financial service cloud certification
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financial service cloud certification exam 2023
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does fsc require lightning
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what is included in an fsc license a lightning scheduler b action plans
