Salesforce Certified Financial Services Cloud Practice Test - Questions Answers, Page 8
List of questions
Question 71
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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?
Explanation:
To display the most important fields on the side panel of ARC, the Admin must configure the Compact Layout for each object. The Compact Layout is a layout that determines which fields appear in key places in Salesforce such as record highlights areas, list views, lookup dialogs, and global search results. The Admin can use the Compact Layout to select up to 10 fields that are most relevant for each object and display them on the side panel of ARC
Question 72
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How can the Salesforce Administrator make sure that highly sensitive Life Events or Business Milestones will not be shown until the event actually happened?
Explanation:
To hide highly sensitive Life Events or Business Milestones until they happen, the Admin can hide them on the Events & Business Milestones Lightning Component page properties. The Events & Business Milestones Lightning Component is a component that displays a timeline of life events and business milestones for a client or a group.The Admin can use the page properties to customize the component and select which event types or milestone types to show or hide on the timeline2. Verified
Reference:2
Question 73
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Which three standard fields are available to track a customer's retirement gial progress?
Explanation:
The following standard fields are available to track a customer's retirement goal progress:
Actual value, which is a currency field that represents the current value of the goal.
Target value, which is a currency field that represents the desired value of the goal.
Target Date, which is a date field that represents the expected date of achieving the goal.
Question 74
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The Actionable Relationship Center (ARC) is using the Association Type picklist to control the account-account relationships. Which three of the following names are Association Type picklist field values?
Explanation:
The following names are Association Type picklist field values:
Trust, which is a value that indicates that the accounts are related through a trust relationship.
Family, which is a value that indicates that the accounts are related through a family relationship.
Peer, which is a value that indicates that the accounts are related through a peer relationship.
Question 75
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Which of the following statements are correct when creating Financial Goals?
Question 76
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Which two statements are true for a Group in Financial Services Cloud?
Explanation:
The following statements are true for a Group in Financial Services Cloud:
Financial Services Cloud includes a group record type for households, which is a record type that represents a collection of individuals who share financial goals, such as family members or roommates.
A group is a type of account record that people and businesses can be related to through the account contact relationship object, which is a junction object that links an account to a contact or an individual and defines their role or relationship with that account.
Question 77
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What 2 considerations should the Salesforce Administrator review before implementing Flow for customer onboarding?
Explanation:
The following considerations should be reviewed before implementing Flow for customer onboarding:
Use Field Level Security on Milestones, which is a setting that controls whether users can view and edit fields on records.The Admin should use Field Level Security to restrict access to the Milestones field on the Flow Template object, which is used to track the progress of customer onboarding flows2.
Flow for Financial Service Cloud is not available for the Individual Object Model, which is an alternative data model that uses the Individual object instead of Person Accounts to store information about people.Flow for Financial Service Cloud only supports Person Accounts as the primary object for customer onboarding flows2. Verified
Reference:2
Question 78
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Which setting in Action Plans helps to avoid non working hours, company holidays, and other non working days for deadline calculation?
Explanation:
The setting in Action Plans that helps to avoid non working hours, company holidays, and other non working days for deadline calculation is Skip Non-Work Days for Deadlines. This is a custom setting that determines whether to exclude non work days when calculating the due date for action plan items based on the action plan item template duration. By enabling this setting, the Admin can ensure that the deadlines are realistic and achievable
Question 79
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Cumulus Cloud Bank must provide its customer service staff with real-time access to customer accounts, including the ability to view current transactions and balances. As a result, the bank expects a high volume of concurrent users at peak times.
Which option is most suitable?
Explanation:
The most suitable option for Cumulus Cloud Bank to provide its customer service staff with real-time access to customer accounts, including the ability to view current transactions and balances, is to embed custom Lightning web components on the Account and Financial Account pages, and use custom Apex to make callouts to the core system services. This option allows the bank to leverage the Lightning Platform features and capabilities, such as Lightning web components, Apex, and callouts, to create a seamless and performant integration with their core systems. By using custom Lightning web components, the bank can create custom user interfaces that display the data from the core systems on the Account and Financial Account pages. By using custom Apex, the bank can write code that makes callouts to the core system services using HTTP requests and responses, and handle any authentication, error handling, or data transformation logic.
Question 80
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During a Financial Services Cloud implementation at an insurance company, a consultant needs to design a broker data model for the broker web portal. The given requirements are:
1- Brokers are treated individually, even if they are associated with the same company.
2- Brokers should never have access to other brokers' data.
3- Brokers can nominate their assistants to access the broker portal.
4- An assistant can sometimes work for multiple brokers.
Which two considerations should the consultant consider regarding the data model?
Explanation:
The following considerations should be considered regarding the data model for the broker web portal:
The Broker Assistant should be modeled as a Contact. Then, leverage Contact to Multiple Account features if this assistant needs to work for multiple brokers. This is because Contacts are records that represent individuals who are associated with an account. By using Contacts, the consultant can capture the personal information of the broker assistants and relate them to their employers. By using Contact to Multiple Accounts features, the consultant can enable a contact to have relationships with multiple accounts and specify different roles and start and end dates for each relationship.
Brokers need to be modeled as Account and Contact individually, as each broker is a legal entity in Salesforce. Then, use a Group to model their company. This is because Accounts are records that represent business entities or organizations that are involved in business transactions with your company. By using Accounts, the consultant can capture the business information of each broker and treat them as legal entities in Salesforce. By using Contacts, the consultant can capture the personal information of each broker and relate them to their accounts. By using Groups, which are records that represent collections of accounts or contacts that share financial goals or characteristics, the consultant can model the broker company and associate multiple brokers with it
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