ExamGecko
Search Search Login
Home Home / Salesforce / Certified Financial Services Cloud
Question list
Search
Search

List of questions

Search
Open VPLUS File
Convert VPLUS to PDF

Related questions

Lake Tahoe Bank wants their customer reps to be able to see client records such as Person Accounts, but want to restrict access to Financial Accounts to protect the privacy of their clients. Which two steps can an admin take to ensure that all users see Person Accounts, but only specific users can view Financial Accounts?
What actions can a Wealth Advisor take from the Life Events card7
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?
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)
The Salesforce Admin wants to make it easier for call center agents to complete some common tasks by setting up flows and launch them from the Retail Banking Console. What does the Admin have to keep in mind when setting up Flows?
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 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 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?
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)
What benefits do Flows for Financial Services Cloud offer to support customer onboarding? (Choose Two)

Question 135 - Certified Financial Services Cloud discussion

Report
Export

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.
Set the default currency for head office and have the regions download their reports to Excel and convert them manually.
Answers
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.
Answers
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.
Answers
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.
Answers
D.
Allow users to set their preferred currency in their profile and design reports that convert currencies for the user running the report.
Suggested answer: C

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.

Show Answer
asked 23/09/2024
Shaharyar Chaudhry
42 questions
PreviousPreviousNextNext
User
Your answer:
0 comments
Sorted by

Leave a comment first

ExamGecko

Copyright @2023 ExamGecko | All right reserved

Mail us: [email protected]
About us
Contact us
Twitter X
Facebook
Medium
Convert VPLUS to PDF
Open VPLUS files Easily and Quickly
Privacy Policy
Disclaimer
Terms