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Salesforce Financial-Services-Cloud is a powerful platform that can help financial institutions to improve their operations and increase profitability. The FSC Accredited Professional Exam is an important credential for professionals who work in the financial services industry. By passing the exam, professionals demonstrate their proficiency in using the Salesforce Financial-Services-Cloud to help financial institutions achieve their business goals. With the right preparation and study resources, professionals can increase their chances of passing the exam and earning this valuable credential.
Salesforce Financial Services Cloud (FSC) Accredited Professional Certification Exam is an excellent opportunity for professionals who wish to specialize in the financial services industry and gain a competitive edge in their careers. Salesforce Financial Services Cloud (FSC) Accredited Professional certification program is designed to validate a candidate’s skills and knowledge in implementing and managing Salesforce Financial Services Cloud, making it a must-have credential for anyone working in the financial services sector.
NEW QUESTION # 93
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?
- A. Use a third party from AppExchange add-on to implement currency conversions.
- B. Enable multiple currencies and advanced currency management, and set a corporate currency for the corporate headquarters office.
- C. Allowusers to set their preferred currency in their profile and design reports that convert currencies for the user running the report.
- D. Set the default currency for head office and have the regions download their reports to Excel and convert them manually.
Answer: B
Explanation:
Reference: Discover Multiple Currency Settings Unit | Salesforce Trailhead Explanation: Multiple currencies is a feature of Salesforce that allows organizations to work with more than one currency in their records, reports, and forecasts. Multiple currencies can help organizations that operate in different countries or regions to manage their financial data in local currencies, while also providing a consistent view of the data in a single corporate currency. Advanced currency management is a feature of Salesforce that allows organizations to track historical exchange rates and apply them to records based on their close date. Advanced currency management can help organizations that deal with fluctuating exchange rates to accurately report on their revenue and performance over time.
To enable and apply multiple currencies, the administrator needs to do the following steps:
From Setup, in the Quick Find,search for Company Information, then select Company Information.
Click Edit.
Check Activate Multiple Currencies.
Click Save.
From Setup, in the Quick Find, search for Manage Currencies, then select Manage Currencies.
Click Enable Advanced Currency Management.
Click Save.
Set the corporate currency for the corporate headquarters office by editing the currency field on the account record.
NEW QUESTION # 94
A financial services company needs to alert advisors about changes in client records that require action. What should the administrator consider when configuring Record Alerts?
- A. With permissions for Record Alerts, users can create record alerts on all custom objects and standard objects such as Financial Account.
- B. When the administrator adds a new Record Alert Category, the severity value in the alert category is the default value on the record alerts advisors create and cannot be changed.
- C. Record alert categories are not required when creating a record alert, but they help keep alerts organized.
- D. When the admin creates a value for the Severity field, the warning icon is associated with the field automatically, and advisors cannot change the icon.
Answer: A
Explanation:
Reference: Record Alerts APIs | Industries Common Resources Developer Guide | Salesforce Developers Explanation: Record Alerts are a feature of Financial Services Cloud that allow users to create and display alerts on records that require action or attention. Record Alerts can help users prioritize their work, communicate important information, and collaborate with other users. Record Alerts can be created on any custom object or standard object that supports custom fields, such as Financial Account, Contact, or Opportunity.
To create record alerts, users need to have the following permissions:
Read and Edit access to the record that they want to create an alert for Create access to the Record Alert object Readaccess to the Record Alert Category object
NEW QUESTION # 95
Universal Container wants to ensure that users complete the standard industry field when creating a new account record. To address the concern the administrator set the Industry field as required. However, some users are still able to create a new account record without completing the Industry Field.
What should an administrator do to troubleshoot the issues? (2 answers)
- A. Verify the field-level security for the industry field is not set to "Read Only" on the user profiles.
- B. Verify the users have the "Modify all data" permission for account on their profiles
- C. Verify the users have the "Edit" permission for accounts on their profiles
- D. Verify the industry field is set as required on all the account page layouts assigned to the users
Answer: A,D
NEW QUESTION # 96
What feature allows a user to group campaigns within a specific marketing program or initiative?
- A. Campaign lists
- B. Campaign influence
- C. Campaign members
- D. Campaign Hierarchy
Answer: D
NEW QUESTION # 97
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?
- A. Configure Financial Account record types to match the required categories.
- B. Add the Financial Account List component to the Account Lightning record page.
- C. Configure the Financial Account List components for each required category.
- D. Create a custom picklist on the Financial Account object to track the Typ
- E. Create Account lookup fields on the Financial Account object to link the Financial Accounts to an Account.
Answer: C,D,E
Explanation:
The following considerations should be included when configuring the report with branch management reportable objects:
Bankers with Branches with Opportunities, Accounts, Leads, and Contacts report types are available for creating reports with Branch Unit Related Records. These are standard report types that allow users to create reports that show data from Banker, Branch Unit, Opportunity, Account, Lead, Contact, and Branch Unit Related Record objects.
The reportable objects include Banker, Branch Unit, Branch Unit Related Records, and Branch Unit Customer. These are custom objects that are part of the branch management feature in Financial Services Cloud. Banker is an object that represents a banker or an employee who works at a branch unit. Branch Unit is an object that represents a physical location where bankers provide services to customers. Branch Unit Related Record is an object that represents a record that is related to a branch unit, such as an opportunity, an account, a lead, or a contact. Branch Unit Customer is an object that represents a customer who has a relationship with a branch unit.
When Branch Unit is the primary object, the administrator can select Branch Unit Customers or Branch Unit Related Records as related objects. This means that the administrator can create reports that show data from Branch Unit and its related objects by using lookup fields or junction objects.
NEW QUESTION # 98
Lake Tahoe Bank has been using Sales Cloud to support the business to consumer (B2C) activities. The VP of IT wants a better and more flexible data model that can support his B2C Banking use cases. He is considering upgrading to Financial Services Cloud, using Person Accounts. Which 2 of these statements are true for the Financial Services Cloud Person Account Data Model?
- A. To share a Person Account record the admin will need to create sharing rules Account and Contact objects
- 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 and a Person Account Record Type
- C. The Person Account is a virtual object displaying data from Accounts and Contacts objects. It represents all aspects of the person and includes D data such date of birth or tax ID number.
- D. The Person Account record type can be used when a client is an agent for a broker firm that is doing business with the Financial Institution.
- E. Person Accounts can be merged with Business Accounts in Financial Services Cloud
Answer: B,C
Explanation:
Explanation
The following statements are true for the Financial Services Cloud Person Account Data Model:
The Person Account is a virtual object displaying data from Accounts and Contacts objects. It represents all aspects of the person and includes data such as date of birth or tax ID number. You can use Person Accounts to store information about individual people by combining certain Account and Contact fields into a single record.
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 and a Person Account Record Type. You can use Person Accounts to simplify your data model and reduce the number of records you need to manage.
NEW QUESTION # 99
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 bank has limited redesign opportunities for business capabilities.
- B. The current implementation is using a product-centric view and the bank wants to move to a customer-centric view.
- C. Existing business capabilities and processes can be redesigned to deliver a higher business impact
- D. Data migration is a big concern The current org has a large amount of data and the Bank wants to minimize data migration efforts.
- E. The bank wants to use this project as an opportunity to retire customization
Answer: B,C,E
Explanation:
Explanation
The following considerations indicate that a new Salesforce org is the better choice for implementing Financial Services Cloud:
The bank wants to use this project as an opportunity to retire customization. A new org will allow the bank to start fresh and avoid carrying over unnecessary or outdated customization that may conflict with Financial Services Cloud features or best practices.
The current implementation is using a product-centric view and the bank wants to move to a customer-centric view. A new org will allow the bank to adopt the Financial Services Cloud data model, which is designed to provide a holistic view of the customer and their relationships, goals, financial accounts, activities, and interactions.
Existing business capabilities and processes can be redesigned to deliver a higher business impact. A new org will allow the bank to leverage the Financial Services Cloud capabilities, such as Action Plans, Relationship Groups, Rollup By Lookup, Service Processes, etc., to optimize their business processes and enhance their customer experience. Verified References: : Salesforce Help Article 6
NEW QUESTION # 100
What are the three building blocks of Flow Orchestration?
- A. Steps
- B. Work Items
- C. Blocks
- D. Stages
- E. Processes
Answer: A,B,D
Explanation:
The following are the building blocks of Flow Orchestration:
Steps: Steps are discrete units of work that can be performed by a user or a system within a flow orchestration. Steps can have different types, such as user input steps, system action steps, decision steps, or subflow steps. Steps can also have different attributes, such as name, description, icon, input variables, output variables, or preconditions.
Stages: Stages are logical groupings of steps that represent phases or milestones within a flow orchestration. Stages can have different attributes, such as name, description, icon, entry criteria, exit criteria, or completion actions.
Work Items: Work Items are instances of flow orchestrations that track the progress and status of each execution. Work Items can have different attributes, such as name, description, owner, assignee, due date, priority, status, stage history, or step history. Verified Reference: : Salesforce Help Article [7] : Salesforce Help Article [8] : Salesforce Help Article [9]
NEW QUESTION # 101
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. Drove Advisor productivity with a daily task list, client life events, opportunities, and aggregated household information directly from D the FSC HomeT\e
- B. Improved customer onboarding experiences by fast-tracking and simplifying document tracking and approvals via FSC Action Plans
- C. Streamlined the entire deal lifecycle with FSC. leveraging relationship maps and interaction history in business development/discovery D to accelerate pipe management and research
- D. 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
- 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,D
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 # 102
Universal Containers wants to create a custom object to capture account survey dat a. Users must be able to select an account from the survey record. Users also need the ability to view related surveys on the account record.
How should the system administrator meet this requirement? (2 answers)
- A. Create a lookup relationship field on the account object.
- B. Create a lookup relationship field on the survey object.
- C. Add the account related list to the survey page layout.
- D. Add the survey related list to the account page layout.
Answer: B,D
NEW QUESTION # 103
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 shoulda consultant suggest to Cumulus Bank to implement?
- A. A Mortgage Application' custom object to hold thecollected client data
- B. Flow Builder to automate these business processes
- C. The standard mortgage flow templates to build a mortgage flow in Financial Services Cloud
- D. Data Import Wizard to upload the data collected in spreadsheets
Answer: B,C
Explanation:
Salesforce provides features and tools to help financial institutions improve the efficiency of their mortgage processes and provide better experiences for their customers. Some of the features and tools that a consultant can suggest to Cumulus Bank to implement are:
The standard mortgage flow templates to build a mortgage flow in Financial Services Cloud: These are prebuilt flow templates that guide users through the steps of creating a mortgage application, capturing borrowerinformation, and submitting the application for approval7. The templates can be customized to suit the bank's specific needs and requirements8.
Flow Builder to automate these business processes: Flow Builder is a point-and-click tool that lets users create flows to automate business processes in Salesforce9. Flow Builder can be used to create custom mortgage flows that integrate with other Salesforce features, such as data models, objects, fields, validation rules, and actions10.
References:
Flow Builder for Mortgage
Customize Mortgage Flows
Flow Builder
Create a Mortgage Flow
NEW QUESTION # 104
When using sharing rules, what can records be shared with? (2 answers)
- A. Queues
- B. Roles and subordinates
- C. Profiles
- D. Public Groups
Answer: B,D
NEW QUESTION # 105
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?
- A. Action Plans make it easy to create reports and dashboards, so you can monitor progress and ensure compliance
- B. Action Plans can be used to automatically assign task owners and deadlines for specific client engagements
- C. Action Plans can be used to schedule appointments with the Bankers
- D. When you work with Action Plans, you first create Action Plan Templates
- E. Action Plans require a monthly license fee per user
Answer: A,B,D
Explanation:
The following statements about Action Plans are true:
When you work with Action Plans, you first create Action Plan Templates, which are reusable sets of tasksthat define a common clientprocess1.
Action Plans make it easy to create reports and dashboards, so you can monitor progress and ensure compliance. Users can use standard report types or custom report types to create reports on action plans, action plan templates, action plan items, action plan item templates, and action plan item owners1.
Action Plans can be used to automatically assign task owners and deadlines for specific client engagements. Users can specify task owners by using assignment logic such as specific user, role, queue, action plancreator, or account team1. Verified References: 1
NEW QUESTION # 106
What can be transferred from one user to another user during mass transfer of account records? (3 answers)
- A. Closed activities
- B. Related custom object records
- C. Open activities
- D. Open cases
- E. Closed cases
Answer: C,D,E
NEW QUESTION # 107
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?
- A. Data Filtering and Sorting in Tableau Desktop
- B. Data Visualization with Marketing Cloud Intelligence
- C. Actionable Relationship Center (ARC), an advanced visualization engine
- D. Financial Services Cloud Einstein
Answer: C
Explanation:
Actionable Relationship Center (ARC) is a tool that aSalesforce FSC consultant can recommend to a wealth manager who needs to make sense of complex client relationships and discover new business opportunities. ARC is an advanced visualization engine that provides a holistic view of customers and their relationships with actionable insights, all in one place5. ARC helps users understand relationships among people and businesses by presenting them in interactive components, such as graphs, cards, lists, and filters6. ARC also allows users to perform actions on the customer data, such as creating tasks, sending emails, or updating records7.
References:
ActionableRelationship Center (ARC)
Get Started with Actionable Relationship Center
Work with Actionable Relationship Center
NEW QUESTION # 108
What step is required to give users access to the Financial Services Cloud Commercial Banking features?
- A. Update the user profiles to give users access to Financial Services Cloud objects
- B. Update Industries Settings to give users access to the Commercial Banking Console Lightning app.
- C. Assign permission sets to give users access to the Commercial Banking Console Lightning app.
- D. Install the Commercial Banking Managed Package
Answer: C
NEW QUESTION # 109
A regional bank is implementing Financial Services Cloud (FSC). Today, relationship managers receive email reminders 2 days, 2 weeks, and 2 months after a new customer opens their first bank account to contact the customer for feedback. In addition, the bank wants the ability for relationship managers to track and report on progress in FSC.
What should the administrator do when designing the future state business process using FSC features?
- A. When an account status is changed to "Customer", send emails to the Account Owner to follow up in 2 days, 2 weeks, and 2 months.
- B. When creating an account, create an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months.
- C. When an account status is changed to "CustomlrfVTcreate an action plan with tasks to follow up in 2 days. 2 weeks, and 2 months.
- D. When a lead or referral is converted, create an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months.
Answer: C
Explanation:
Explanation
To design the future state business process using FSC features, the administrator should create an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months when an account status is changed to "Customer". An action plan is a feature that allows users to create templates for common client processes, such as account opening, loan application, or financial review. An action plan template consists of action plan items that define the tasks, subtasks, and deadlines for each step of the process. By creating an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months when an account status is changed to "Customer", the administrator can automate the email reminder process and track and report on the progress in FSC
NEW QUESTION # 110
A financial services company needs a custom field for reporting when relating two business accounts to each other. Which object should the administrator configure the custom field on?
- A. Account
- B. Account Contact\Relationship
- C. Contact-Contact Relationship
- D. Account Account Relationship
Answer: D
Explanation:
To configure a custom field for reporting when relating two business accounts to each other, the administrator should configure the custom field on the Account-Account Relationship object. The Account-Account Relationship object is acustom object in Financial Services Cloud that allows you to create and manage relationships between two accounts, such as Household Member, Business Owner, Trustee, or Friend. You can use the Account-Account Relationship object to store additional information about the relationship between two accounts, such as role, start date, end date, or status. You can also use the Account-Account Relationship object to report on the account-account relationships and analyze their impact on your business.
Verified References: : Salesforce Help Article [4] : Salesforce Help Article [5]
NEW QUESTION # 111
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The FSC Certification Exam consists of multiple-choice questions designed to test a candidate's knowledge and understanding of various financial services concepts and Salesforce Financial Services Cloud features. Financial-Services-Cloud exam covers topics such as financial planning, investment management, client relationship management, and regulatory compliance. To pass the exam and earn the FSC Accredited Professional Certification, candidates must demonstrate their proficiency in all these areas. Salesforce Financial Services Cloud (FSC) Accredited Professional certification is a valuable credential for financial services professionals seeking to advance their careers and demonstrate their expertise in managing financial services on the Salesforce platform.
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