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Cumulus Cloud Bank is asking the consultant to explain some tools available tointegrateSalesforce into several of its back-end/core systems.Which three capabilities should a consultant recommend?
A. Industry Integration Solutions with the MuleSoft Anypoint Platform B. Data Processing Engine C. OmniStudio Integration Procedures D. Data Consumption Framework E. OmniStudio DataRaptors
Answer: A,C,E Explanation:Salesforce offers various tools and capabilities to integrate Financial Services Cloud withexternal systems, such as core banking, insurance, or mortgage platforms. Some of thetoolsand capabilities that a consultant can recommend are:Industry Integration Solutions with the MuleSoft Anypoint Platform: These areprebuilt integration solutions that leveragethe MuleSoft Anypoint Platform toconnect Financial Services Cloud with common industry systems, such as Fiserv,FIS, Jack Henry, and Guidewire1. These solutions enable bi-directional datasynchronization, orchestration, and transformation between Salesforce and theexternal systems2.OmniStudio Integration Procedures: These are reusable components that definethe logic and sequence of steps for integrating datafrom external sources intoFinancial Services Cloud3. Integration procedures canbe triggered by events, such as a button click or a record update, and can invoke other components, such asDataRaptors or OmniScripts4.OmniStudio DataRaptors: These are data transformation components that canextract, load, and manipulate data from various sources, such as Salesforceobjects, REST or SOAP web services, or CSV files5. DataRaptors can be used tomap data between different formats, perform calculations or validations, or createor update records in Financial Services Cloud6.References:Industry Integration SolutionsMuleSoft Anypoint PlatformOmniStudio Integration ProceduresCreate an Integration ProcedureOmniStudio DataRaptorsCreate a DataRaptor
Question # 2
Cumulus Bank is migrating its CRM software from a legacy application to SalesforceFinancial Services Cloud (FSC). The bank hired Salesforce Professional Services toconfigure/deploy the new Salesforce FSC org and migrate data.Which order should a consultant follow when performing the data migrations?
A. Individuals, then Financial Account Roles, then Financial Accounts, then FinancialAccount Transactions B. Individuals, then Financial Accounts, then Financial Account Roles, then FinancialAccount Transactions C. Financial Accounts, then Financial Account Roles, then Individuals, then FinancialAccount Transactions D. Financial Accounts, then Financial Account Transactions, thenVinancial Account Roles,then Individuals
Answer: B Explanation: The order that the consultant should follow when performing the data migrations isIndividuals, then Financial Accounts, then Financial Account Roles, then Financial AccountTransactions. This order ensures that the data dependencies and relationships aremaintained and that the data integrity and quality are preserved. By migrating Individualsfirst, the consultant can create the records that represent the customers of the bank. Bymigrating Financial Accounts next, the consultant can create the records that represent thefinancial products or services that the customers own or use. By migrating FinancialAccount Roles next, the consultant can create the records that link the individuals to thefinancial accounts and define their roles or relationships with those accounts. By migratingFinancial Account Transactions last, the consultant can create the records that representthe transactions or activities that occur on the financial accounts.
Question # 3
The Salesforce Admin of Lake Tahoe Bank wants to implement Financial Services Cloudusing the individual object model. What are the steps to disable person accounts? (ChooseThree)
A. Log a case with Salesforce to perform the conversion from Person Accounts to theindividual model. B. Assign the Person Account record type to the user profiles. C. Disable the Person Account custom setting. D. Remove Person Accountrecord types from the Individual Record Type Mapper. E. Assign the Individual record type to the user profiles.
Answer: A,D,E Explanation: The following steps are required to disable Person Accounts and use the Individual objectmodel in Financial Services Cloud:Log a case with Salesforce to perform the conversion from Person Accounts to theindividual model. You need to contact Salesforce Support to request theconversion from Person Accounts to the individual model. This is an irreversibleprocess that affects your data model and user interface. You should carefullyevaluate your business needs and test the functionality in a sandbox or developerorg before requesting the conversion in production.Remove Person Account record types from the Individual Record TypeMapper.You need to remove any Person Account record types that are mapped toIndividual record types in the Individual Record Type Mapper. This is a customsetting that defines how records are created when using certain features, such asEinstein Data Capture or Salesforce Inbox. You can access this setting by going toSetup > Financial Services Settings > Individual Record Type Mapper.Assign the Individual record type to the user profiles. You need to assign theIndividual record type to the user profiles that need to create or access Individualrecords. The Individual record type is a standard record type on the Account objectthat represents an individual person who is not directly related to your business,such as a prospect, influencer, or household member. You can assign recordtypes by going to Setup > Profiles > Object Settings > Accounts > Record Types.Verified References: : Salesforce Help Article 5 :Salesforce Help Article 6 :Salesforce Help Article 7
Question # 4
Which Salesforce Financial Services Cloud featureenables financial advisors to track andmanage client accounts?
A. Financial accounts management B. Performance reporting C. Client onboarding D. Opportunity management
Answer: A Explanation:Financial accounts management is a Salesforce FinancialServices Cloud feature thatenables financial advisors to track and manage client accounts. A financial account is anyaccount managed by a financial institution, such as a bank, an insurance company, or aninvestment firm. Financial Services Cloud supports many kinds of financial accounts, suchas checking accounts, savings accounts, mortgages, credit cards, investment accounts,insurance policies, and more3. Financial advisors can use Financial Services Cloud toview, create, update, and delete financial accounts for their clients, as well as link them toother objects, such as households, goals, referrals, or opportunities4.References:Financial AccountsManage FinancialAccounts
Question # 5
A financial services company would like its users to be able to relate two businessaccounts. Whatshouldthe administrator configure to meet the requirement?
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.
Answer: B Explanation:To configure Financial Services Cloud to allow users to relate two business accounts, theadministrator should update the Role picklist on the Account-Account Relationship objectwith new value. The Role picklist is a field on the Account-Account Relationship object thatdefines the type of relationship between two accounts, such as Household Member,Business Owner, Trustee, or Friend. The Role picklist is used to filter and display theaccount-account relationships in the Actionable Relationship Center (ARC). To update theRole picklist, you need to go to Setup > Object Manager > Account-Account Relationship >Fields & Relationships > Role and addor remove values according to your business needs.Verified References: : Salesforce Help Article [10] : Salesforce Help Article [11]
Question # 6
Cumulus Insurance has created a Delegated Administrator groupfor its franchise users toreduce the workload on head office support staff.Which three functions should be added to the Delegated Administrator group?
A. Unlock users. B. Modify permission sets. C. Set organization-wide sharing defaults on custom objects. D. Assign or remove permission sets for users in their delegated groups. E. Create and manage membership of specified public groups.
Answer: A,D,E Explanation: The following functions should be added to the Delegated Administrator group for itsfranchise users:Unlock users, which is a function that allows delegated administrators to unlockusers who have been locked out due to incorrect login attempts or passwordexpiration.Assign or remove permission sets for users in their delegated groups, which is afunction that allows delegated administrators to grant or revoke additionalpermissions for users in their delegated groups by using permission sets.Create and manage membership of specified public groups, which is a functionthat allows delegated administratorsto create public groups for sharing purposesand add or remove users from those groups.
Question # 7
Lake Tahoe Bank is implementing Financial Services Cloud. The bank's new businessprocesses require that Financial Advisors can add individuals to more than one Group orHousehold using Multiple Relationship Groups. Where do Admins enable MultipleRelationship Groups?
A. Object Settings B. Custom Settings C. Lightning Page Editor D. Profiles
Answer: B Explanation:To enable Multiple Relationship Groups, which is a feature that allows users to addindividuals to more than onegroup or household, the Admin needs to use Custom Settings.Custom Settings are similar to custom objects and enable application developers to createcustom sets of data, as well as create and associate custom data for an organization,profile, or specific user. The Admin can use Custom Settings to enable MultipleRelationship Groups by following these steps:From Setup, enter Custom Settings in the Quick Find box, then select CustomSettings.Click Manage next to Group Member Record Type Mapper.Click Edit next to Default Organization Level Value.In Multiple Relationship Groups Enabled, select True.Click Save.
Question # 8
Lake Tahoe Bank branch manager Sue Barry wants to encourage all Personal Bankers touse Action Plans to capture repeatable tasks and automate the task sequences, improvingcollaboration and productivity. Which three of the following statements about Action Plansare true?
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 monitorprogress and ensure compliance E. Action Plans can be used to automatically assign task owners and deadlines for specificclient engagements
Answer: A,D,E Explanation:The following statements about Action Plans are true:When you work with Action Plans, you first create Action Plan Templates, whichare reusable sets of tasks that define a common clientprocess1.Action Plans make it easy to create reports and dashboards, so you can monitorprogress and ensure compliance. Users can use standard report types or customreport types to create reports on action plans, action plan templates, action planitems, action plan item templates, and action plan item owners1.Action Plans can be used to automatically assign task owners and deadlines forspecific client engagements. Users can specify task owners by using assignmentlogic such as specific user, role, queue, action plan creator, or account team1.Verified References: 1
Question # 9
Which three of the following statements are correct about the Actionable RelationshipCenter Manager (ARC)?
A. To enable users to see the ARC, you will need to add thecomponent for ARC to thepage layout. B. ARC displays up to 5 related lists that have a configured compact layout. C. ARC is certified to work with Person Accounts and Individual Accounts. D. The Salesforce Admin has to create a permission set for granting access to the ARC –FSC Lightning component. E. The Association Type picklist controls the account-account relationship that display inthe ARC.
Answer: A,B,E Explanation:The following statements are correct about the Actionable Relationship Center Manager(ARC):To enable users to see the ARC, you will need to add the component for ARC tothe page layout. The ARC is a Lightning component that can be added to anyLightning page that supports components, such as record pages, app pages, orHome pages. You can use the Lightning App Builder to drag and drop the ARCcomponent to the desired location on the page layout.ARC displays up to 5 related lists that have a configured compact layout. The ARCshows a graphical representation of the account-account relationshipsfor aselected record, as well as related lists of other records that are associated withthe account, such as contacts, financial accounts, or opportunities. The ARC candisplay up to 5 related lists at a time, and each related list must have a compactlayout configured to show relevant fields. The Association Type picklist controls the account-account relationship thatdisplay in the ARC. The Association Type picklist is a field on the AccountRelationship object that defines the type of relationship between two accounts,such as Household Member, Business Owner, Trustee, or Friend. The ARC usesthis field to filter and display the account-account relationships for a selectedrecord. You can customize this picklist to add or remove values according toyourbusiness needs. Verified References: : Salesforce Help Article 3 : SalesforceHelp Article 4 : Salesforce Help Article 5
Question # 10
During the delivery stage of a Financial Services Cloud (FSC) implementation, a consultantneeds to think about how to utilize FSC-related objects. Which three things should theconsultantconsider when adopting such objects?
A. In a household, each household member is modeled as a Contact, and the household ismodeled as an Account. B. In a household, each of the household members is modeled as a Person Account andthe household is modeledas an Account. C. Role Hierarchy-based sharing can be disabled for the Financial Deal object but can't bedisabled for the Opportunity object. D. Both the Financial Deal object and the Opportunity object support Compliant DataSharing. E. Interaction Summary is an enhancement of the standard Activity object. FSCimplementations should use Interaction Summary as a replacement for the Activity object.
Answer: A,C,D Reference: Set Up Clients, Households, and Relationships, Compliant Data Sharing inFinancial Services Cloud | Salesforce Trailhead, Track Client Interactions - SalesforceExplanation: Some considerations when adopting FSC-related objects are:In a household, each household member is modeled as a Contact, and the household ismodeled as an Account. A household is a type of relationship group that represents agroup of clients whohave a direct relationship with one another and shared financials, suchas spouses and their dependent children. A household is modeled as an Account recordwith a custom record type of Household. Each household member is modeled as a Contactrecord that is related to the household Account. A household can also have relatedaccounts and contacts that are not part of the household, but are associated with it forsome reason.Both the Financial Deal object and the Opportunity object support Compliant Data Sharing.Compliant Data Sharing (CDS) is a feature of FSC that allows granular control over accessto sensitive data in Account and Opportunity objects. CDS can help financial servicescompanies comply with regulations and policies that restrict data visibility based on userroles. CDS can also be enabled for the Financial Deal object, which is a custom object that represents a business opportunity or transaction with a client. The Financial Deal objectcan be used instead of or in addition to the Opportunityobject, depending on the businessneeds.Interaction Summary is an enhancement of the standard Activity object. FSCimplementations should use Interaction Summary as a replacement for the Activity object.Interaction Summary is a custom object that captures the details of a client interaction,such as a meeting, a call, or an email. Interaction Summary can be linked to other FSCobjects, such as Financial Accounts, Financial Goals, Financial Deals, or RelationshipGroups. Interaction Summary can also have participants, which are records that representthe people or groups involved in the interaction.
Question # 11
The Salesforce Admin at Lake Tahoe Bank is implementing Financial Services Cloud andwants to roll up customerdata at the client and group levels. What functionality can RollupBy Lookup (RBL) provide for this requirement?
A. RBL calculations can not be disabled when importing data into your Salesforce org. B. An RBL rule displays summary calculations of financialaccount information, such asaccount balances. C. When you edit a financial account record or primary Group membership, the Rollup ByLookup (RBL) configuration updates the corresponding RBL summaries at the client andGroup levels. D. Rollups for multiple joint owners are not supported E. Rollup By Lookup (RBL) displays associated records for Financial Accounts. FinancialGoals, and Opportunities.
Answer: B,C,E Explanation:The functionality that Rollup By Lookup (RBL) can provide for rolling up customer data atthe client and group levels are as follows:An RBL rule displays summary calculations of financial account information, suchas account balances, networth, total assets, total liabilities, and so on1.When you edit a financial account record or primary group membership, the RollupBy Lookup (RBL) configuration updates the corresponding RBL summaries at the client and group levels1.Rollup By Lookup (RBL) displays associated records for Financial Accounts,Financial Goals, and Opportunities on the client and group pages1. VerifiedReferences: 1
Question # 12
Which three types of Account-Account relationships are displayed in the ActionableRelationship Center?
A. Accounts & Businesses B. Accounts & Members C. Accounts & Peers D. Accounts & Groups
Answer: A,C,D Explanation: The following types of Account-Account relationships are displayed in the ActionableRelationship Center (ARC):Accounts & Businesses: This type of relationship shows the accounts that arerelated to a business account, such as owners, partners, or beneficiaries. You canuse this type of relationship to understand the ownershipstructure and financialinterests of a business account.Accounts & Peers: This type of relationship shows the accounts that are related toanother account by a peer-to-peer relationship, such as friends, colleagues, orassociates. You can use this type ofrelationship to identify potential referrals andcross-selling opportunities from an account’s network.Accounts & Groups: This type of relationship shows the accounts that are relatedto a group account, such as household members, trust members, or businessgroup members. You can use this type of relationship to view the aggregatedfinancial data and activities of a groupaccount. Verified References: : SalesforceHelp Article 2 : Salesforce Help Article 3 : SalesforceHelp Article 4
Question # 13
To access all Financial Services Cloud (FSC) functionalitiesavailable out of the box, aconsultant must install the FSC Managed Package and the Unmanaged ExtensionPackages.Which two functionalities are included in the FSC Unmanaged Extension Packages?
A. Custom objects to track Financial Accounts and Household B. The Commercial Banking dashboard C. Field sets that configure how fields display in the client and household profiles D. Predefined list views of clients and households
Answer: B,C Reference: Financial Services Cloud PackagesExplanation: Financial Services Cloud functionality is available from two packages: themanaged package and the unmanaged extension packages. The managed packagecontains most of the Financial Services Cloud functionality, such as custom fields andobjects, list views and profiles of clients and households, and administrative configurations.The unmanaged extension packages provide additional functionality that is not included inthe managed package, such as:The Commercial Banking dashboard: This is a dashboard that provides insights intocommercial banking activities and performance, such as loan portfolio health, depositgrowth, referral pipeline, and customer satisfaction. The Commercial Banking dashboard isincluded in the unmanaged commercial banking extension package.Field sets that configure how fields display in the client and household profiles: These arefield sets that determine which fields are displayed in different sections of the client andhousehold profiles, such as Client Overview, Household Overview, Client Details,Household Details, etc. The field sets are included in the unmanaged extension package.
Question # 14
An investment bank client wants all its users to track client engagements with InteractionSummaries. In addition, those call logs need to be shared with specialists in other lines ofbusiness so they can assist in specific types of deals.Which three Financial Services Cloud standard objects should be used to helpaccommodate these business requirements?
A. Interaction Summary Participant B. Financial Deal Participant C. Participant Role D. Interaction Participant E. Opportunity Participant
Answer: A,B,C Reference: Track Client Interactions - SalesforceExplanation: Interaction Summaries are records that capture the details of a clientinteraction, such as a meeting, a call, or an email. Interaction Summaries can be linked toFinancial Deals, which are records that represent a business opportunity or transaction witha client. Interaction Summaries and Financial Deals can have participants, which arerecords that represent the people or groups involved in the interaction or deal. Participantscan have different roles, such as advisor, client, specialist, or decision maker. ParticipantRole is a custom object that defines the possible roles for participants.
Question # 15
A bank recently sold its wealth management division and wants to improve its customers’digital experience. The bank engaged Salesforce Professional Services to upgrade itsexisting 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 tothe bank's chief financial officer (CFO)and investment committee?
A. Unify and improve team collaboration by sharing and managing customer leads andreferrals across multiple lines of business at the bank to drive customers' financial needsand deepen client relationships. B. Deliver connected and personalized digital experiences to the bank's customers thanksto a 360-degree view of its customer data consolidating multiple customer databases andsources from diverse channels at the bank. C. Simplify the client onboarding process with proper tools to streamline customerdiscovery and internal reviews through renewal. D. Manage policy holder’s interactions with customer service agents intelligently throughthe underwriting process. E. Modernize client-advisor experiences from engagement to relationship management toeffectively drive long-term, trusted relationships.
Answer: A,B,E Explanation: Unify and improve team collaboration by sharing and managing customer leads andreferrals across multiple lines of business at the bank to drive customers’ financialneedsand deepen client relationships; Deliver connected and personalized digital experiences tothe bank’s customers thanks to a 360-degree view of its customer data consolidatingmultiple customer databases and sources from diverse channels at the bank;Modernizeclient-advisor experiences from engagement to relationship management to effectivelydrive long-term, trusted relationships.Reference: Financial Services Cloud | SalesforceExplanation: Financial Services Cloud is a platform that enables banks to deliver seamlessand personalized customer experiences across multiple channels and devices. FinancialServices Cloud can help banks achieve the following outcomes:Unify and improve team collaboration by sharing and managing customer leads andreferrals across multiple lines of business at the bank to drive customers’ financial needsand deepen client relationships. Financial Services Cloud providestools such as LeadConversion, Referral Management, Relationship Groups, and Compliant Data Sharing tofacilitate cross-team collaboration and coordination.Deliver connected and personalized digital experiences to the bank’s customers thanks toa 360-degree view of its customer data consolidating multiple customer databases andsources from diverse channels at the bank. Financial Services Cloud provides a unifieddata model that integrates customer data from various sources, such as core bankingsystems, online banking portals, mobile apps, social media, and third-party providers.Financial Services Cloud also provides features such as Customer Profile, Actionable Relationship Center, Interaction Summaries, and Einstein Analytics to provide acomprehensiveand holistic view of the customer’s financial situation, needs, preferences,and interactions.Modernize client-advisor experiences from engagement to relationship management toeffectively drive long-term, trusted relationships. Financial Services Cloud provides featuressuch as Client Onboarding, Action Plans, Goals-Based Planning, Financial Accounts,Financial Deals, Next Best Action, and Einstein Bots to enable advisors to deliver proactiveand personalized advice, recommendations, and solutions to their clients.
Question # 16
Which three related lists are visible within Actionable Relationship Center associated withthe Account object?
A. Cases B. Notes and Attachments C. Client Financial Goals D. Financial Holdings E. Household Financial Accounts
Answer: C,D,E Explanation:The following related lists are visible within Actionable Relationship Center (ARC)associated with the Account object:Client Financial Goals, which is a relatedlist that displays the financial goals of theaccount, such as retirement, education, or debt payoff.Financial Holdings, which is a related list that displays the financial accounts of theaccount, such as bank accounts, investment accounts, or insurancepolicies.Household Financial Accounts, which is a related list that displays the financialaccounts of the account’s primary group, such as household or business group.
Question # 17
A Bank of the Future customer calls the bank to update the address on their account. Thecall center agent handling the call needs to enter a new address into the system. The agententers the new contact information using an OmniScript and then needs to generate aprefilled PDF with the new address that can be shared with the customer.Which two OmniStudio tools should a consultant recommend to generate the prefilledPDF?
A. OmniStudio Action Document Generation B. Calculation Procedure C. DataRaptor D. Integration Procedure
Answer: A,C Explanation:The following OmniStudio toolsshould be recommended to generate the prefilled PDF:OmniStudio Action Document Generation, which is a tool that allows users tocreate documents from templates and data sources using OmniScripts andIntegration Procedures. Byusing OmniStudio Action Document Generation, theconsultant can create a document template with placeholders for the contact andaddress information and generate a PDF file from it using an OmniScript. DataRaptor, which is a tool that allows users to extract and transform data fromSalesforce or external systems using Integration Procedures. By usingDataRaptor, the consultant can create a data source that retrieves the contact andaddress information from Salesforce and maps it to the document templateplaceholders.
Question # 18
Personal Banker Hank Burton is questioning his Referral Score shown in Salesforce Financial Services Cloud. When is the Referral Score updated?
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 ClosedWon
Answer: D Explanation:The Referral Score is updated when an opportunity associated with the Referral is ClosedWon. The Referral Score is a metric that measures the quality and quantity of referrals thata user creates or receives. The Referral Score is calculatedas the number of referralsconverted to opportunitiesdivided by the total number of referrals. The Referral Score isdisplayed in the Referral Summary component on the user’s Home page or record page.The Referral Score is updated whenever a referral is converted to an opportunity or anopportunity is closed as won or lost. Verified References: : Salesforce Help Article 2 :Salesforce Help Article 4
Question # 19
When importing records from a system outside of Salesforce, which ID should be used toprevent the data import from creating duplicates?
A. User ID B. Data Load ID C. External ID D. Org ID
Answer: C Explanation:To prevent the data import from creating duplicates when importing records from a systemoutside of Salesforce, you should use External ID. External ID is a custom field type thatcan be used to store unique identifiers from other systems. You can use External ID tomatch records during data import and avoid creating duplicate records in Salesforce. Youcan also use External ID to enable upsert operations, which can insert new records orupdate existing records based on the External ID value. Verified References: : SalesforceHelp Article [5] : Salesforce Help Article [6]
Question # 20
An investment bank is implementing Financial Services Cloud (FSC) to manage the dealpipeline. Each opportunity has confidential information that the deal teammembers mustonly view. In addition, each member needs the ability to take and share notes directlywithin Salesforce with others on the team.Which three FSC features should be part of the solution design?
A. Financial Deal Management B. Sharing Rules C. Complianthata Sharing D. Profiles E. Interaction Summaries
Answer: A,B,E Explanation:The following FSC features should be part of the solution design for managing confidentialdeal information and notes sharing among deal team members:Financial Deal Management: Financial Deal Management is a feature in FinancialServices Cloud that allows you to track and manage complex deals that involvemultiple parties, products, and stages. You can use Financial Deal Management tostore confidential deal information such as deal name, amount, status, orparticipants. You can also use Financial Deal Management to associateopportunities, products, or tasks with a deal.
