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?

If there is a business process for taking detailed notes for client meetings and adding action items, the Action Plan component is recommended to use.

If there is a business process for tracking the customer life events and milestones, and timely reminding of opportunities, the Action Plan component is recommended to use.

If there is a business process for limiting role-based data visibility, the Interaction Summaries component is recommended to use.

If there is a business process for taking detailed notes for client meetings and adding action items, the Action Plan component is recommended to use.

If there is a business process for showing common interests and needs across the company's clients, the Interaction Summaries component is recommended to use.

A bank recently sold its wealth management division and wants to improve its customers' digital experience. The bank engaged Salesforce Professional Services to upgrade its existing 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 to the bank's chief financial officer (CFO) and investment committee?

Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers' financial needs and deepen client relationships.

Deliver connected and personalized digital experiences to the bank's customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank.

Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships.

Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers' financial needs and deepen client relationships.

Deliver connected and personalized digital experiences to the bank's customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank.

Simplify the client onboarding process with proper tools to streamline customer discovery and internal reviews through renewal.

Manage policy holder's interactions with customer service agents intelligently through the underwriting process.

Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships.

A Financial Services Cloud (FSC) administrator is assigning permission set licenses to users, including personal bankers. Which permission set license is recommended for this set of users?

FSC Standard permission set license

FSC Foundations permission set license

FSC Basic permission set license

FSC Extension permission set license

FSC Standard permission set license

While working for an insurance client implementing Financial Services Cloud, an API integration between Salesforce and a risk control system has been configured. The consultant is asked to ensure the correct profiles and permissions were set up for this connection. Which two steps should the consultant take?

Create a dedicated Integration User.

Create a new custom profile and ensure API Only is selected.

Update the System Administrator profile to include the API Only User.

Create a dedicated Integration User.

Assign the integration user to the System Administrator profile.

Create a new custom profile and ensure API Only is selected.

During the delivery stage of a Financial Services Cloud (FSC) implementation, a consultant needs to think about how to utilize FSC-related objects. Which three things should the consultant consider when adopting such objects?

In a household, each household member is modeled as a Contact, and the household is modeled as an Account.

Role Hierarchy-based sharing can be disabled for the Financial Deal object but can't be disabled for the Opportunity object.

Both the Financial Deal object and the Opportunity object support Compliant Data Sharing.

In a household, each household member is modeled as a Contact, and the household is modeled as an Account.

In a household, each of the household members is modeled as a Person Account and the household is modeled as an Account.

Role Hierarchy-based sharing can be disabled for the Financial Deal object but can't be disabled for the Opportunity object.

Both the Financial Deal object and the Opportunity object support Compliant Data Sharing.

Interaction Summary is an enhancement of the standard Activity object. FSC implementations should use Interaction Summary as a replacement for the Activity object.

Omni Script represents processes with fast, personalized, and consistent responses. This type extends the metadata type and inherits its full name field. To use the Omni Script metadata type, what should the administrator enable in the Salesforce org?

Lightning Experience for Financial Services Cloud

A company wants to convert its Salesforce Financial Services Cloud implementation from using the individual account model to using person accounts.Which three things should a consultant do to prepare for the conversion?

Ensure all individual account records to be converted are only linked to exactly one contact record.

Test out the conversion in a sandbox, including all integrations and customizations.

Ensure each individual account to be converted is not a parent account of any other account records.

Update all opportunities linked to individual account records to be owned by the individual account record's owner.

Ensure each account.phone field in the individual account record is blank.

Ensure all individual account records to be converted are only linked to exactly one contact record.

Test out the conversion in a sandbox, including all integrations and customizations.

Ensure each individual account to be converted is not a parent account of any other account records.

To access all Financial Services Cloud (FSC) functionalities available out of the box, a consultant must install the FSC Managed Package and the Unmanaged Extension Packages.Which two functionalities are included in the FSC Unmanaged Extension Packages?

The Commercial Banking dashboard

Field sets that configure how fields display in the client and household profiles

Custom objects to track Financial Accounts and Household

The Commercial Banking dashboard

Field sets that configure how fields display in the client and household profiles

Predefined list views of clients and households

During a project's design phase, a consultant must provide a Financial Services Cloud solution that can support Compliant Data Sharing (CDS). What are three things the consultant should consider regarding CDS?

Participant Roles provide another way to grant data access without overwriting sharing behavior from existing sharing features.

Compliance managers and Salesforce administrators can enable CDS for Account and Opportunity objects.

Role Hierarchy---based sharing is disabled by default in CDS.

Participant Roles provide another way to grant data access without overwriting sharing behavior from existing sharing features.

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?

Compliance managers and Salesforce administrators can enable CDS for Account and Opportunity objects.

Role Hierarchy---based sharing is disabled by default in CDS.

In a standard Salesforce org, Role Hierarchy for Account and Opportunity objects is enabled by default and can't be turned off.

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?

Enable multiple currencies and advanced currency management, and set a corporate currency for the corporate headquarters office.

Set the default currency for head office and have the regions download their reports to Excel and convert them manually.

Use a third party from AppExchange add-on to implement currency conversions.

Enable multiple currencies and advanced currency management, and set a corporate currency for the corporate headquarters office.

Allow users to set their preferred currency in their profile and design reports that convert currencies for the user running the report.

A Salesforce administrator updating a record page to add a Chatter component to the Action Plan Lightning record page is unable to find the Chatter components for selection.What is the reason for this?

Feed tracking has to be enabled for the Action Plan object.

Chatter has to be enabled for Action Plans via Chatter settings in setup.

Salesforce is yet to roll out Chatter for the Action Plan object.

Admin users have to be assigned the Action Plans permission set.

A consultant is configuring a demo for a customer but cannot create new residential loan application records. What is prohibiting the consultant from creating a new residential loan application?

The administrator did not assign the Mortgage permission set to the user.

The Residential Loan Application flow was not enabled in the setup.

The administrator did not enable 'Allow Mortgage Access' in Setup.

The user does not have 'Mortgage User' checked in their user record.

The administrator did not assign the Mortgage permission set to the user.

What are two language-related limitations of Financial Services Cloud?

Predefined reciprocal roles are available only in English.

Referral record type labels are supported only in English.

Predefined reciprocal roles are available only in English.

Custom component labels are supported only in English.

Referral record type labels are supported only in English.

Flows are available only in English.

A wealthy client owns a boutique shoe store called Smith's Shoes. Their financial advisor would like to add this relationship to the Financial Services Cloud (FSC) to track the complete picture of relationships related to the wealthy client's household.Which three options should the Financial Services Cloud consultant use when mapping this relationship in FSC?

Account Account Relationship object

Account object - Household record type

Account object - Business record type

Account Account Relationship object

Account Contact Relationship object

Account object - Household record type

Account object - Business record type

Rachel Addams belongs to two households:1. The Addams household where Rachel lives with her spouse, Nigel Addams. Rachel is the client and, as such, is listed as the primary member of that household. This household is also Rachel's primary group.2. The Symonds household. This household belongs to Rachel's parents, but Rachel manages their finances. Rachel is considered the beneficiary of this household.In addition, Rachel's household has a related account, the Addams Charitable Trust, and a related contact, Ivan M. Kohl, attorney at law.What should be the relationships between the parties when the Financial Services Cloud consultant sets up Rachel's person account?1. Primary Group Household - Addams HouseholdPrimary Member - Rachel AddamsSpouse - Nigel AdamsTrustee - Addams Charitable TrustHousehold - Symonds HouseholdPrimary Member - Neil SymondsBeneficiary - Rachel AddamsRelated Accounts - Addams Charitable TrustRelated Contacts - Ivan M. KohlA financial services company needs to transform the individual data model to person accounts in Financial Services Cloud (FSC), and its consulting partner is helping decide the sequence of the user stories in the design phase.What should the implementation team do as the top priority during planning?

Enable a person account in a sandbox.

Configure Person Account record types.

An investment bank client wants all its users to track client engagements with Interaction Summaries. In addition, those call logs need to be shared with specialists in other lines of business so they can assist in specific types of deals.Which three Financial Services Cloud standard objects should be used to help accommodate these business requirements?

Interaction Summary Participant

Cumulus Bank wants to use Interactions to capture conversations that investment bankers have with their clients. Due to the sensitive nature of the interactions, the bank needs to carefully limit access to the detailed notes for certain groups. Basic information about attendees and meeting dates is not sensitive.Which three options should a consultant recommend?

Enable Compliant Data Sharing for Interaction Summaries.

Use Interaction Summary Participants to provide the right access to individuals or groups.

Disable Role-Hierarchy-Based Sharing for Interaction Summaries.

Enable Compliant Data Sharing for Interactions.

Enable Compliant Data Sharing for Interaction Summaries.

Disable Role-Hierarchy-Based Sharing for Engagement Interactions.

Use Interaction Summary Participants to provide the right access to individuals or groups.

Disable Role-Hierarchy-Based Sharing for Interaction Summaries.

An advisor is setting up a Household in Financial Services Cloud for their new clients, Oliver and Macie Dogging ton. The advisor created a Person Account record for both Oliver and Macie, and a Household record for the Dogging ton household. While creating the Household group, the advisor attempted to input the below information but received an error.Member Name: Oliver Dogging tonRole in Group: ClientPrimary Member: EnabledPrimary Group: EnabledActivities and Objects to Roll Up: AllMember Name: Macie Dogging tonRole in Group: SpousePrimary Member: EnabledPrimary Group: EnabledActivities and Objects to Roll Up: AllBased on the information provided, what caused the error that the advisor received?

Primary Member - two individuals cannot be designated as the Primary Member of the same Household.

Spouse is not a valid Role within a Group.

Primary Group - two individuals cannot designate the same Household as their Primary Group.

Activities and Objects to Roll Up - two individuals cannot designate their activities to roll up to the same Household.

How should developers configure customized nodes for display in the Actionable Relationship Center (ARC)?

Reference the flex Card in the Display properties of the custom ARC relationship graph.

Reference the Lightning web component in the Display properties of the custom ARC relationship graph.

Select Use Flex Card from the node Display tab to show the node in a Flex Card

Reference the flex Card in the Display properties of the custom ARC relationship graph.

Select Omni Script from the node Actions tab to show the node in an Omni Script.

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?

With permissions for Record Alerts, users can create record alerts on all custom objects and standard objects such as Financial Account.

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.

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.

With permissions for Record Alerts, users can create record alerts on all custom objects and standard objects such as Financial Account.

Record alert categories are not required when creating a record alert, but they help keep alerts organized.

A wealth advisor is trying to relate a client to their attorney using the Add Contact option on the relationship tree but can't find any reciprocal roles displayed in the related role lookup. What are two reasons for this?

Reciprocal roles have not been created in the org.

The user should be using the Edit Group button to access reciprocal roles.

The user should be using the Member Relationship button under the Actionable Relationship Center.

Reciprocal roles have not been created in the org.

Sharing rules have not been set up for reciprocal roles.

The user should be using the Edit Group button to access reciprocal roles.

An administrator is logged into Data Loader with their own credentials to insert new Business Account records into their Salesforce environment. They forget to specify the Account Owner field in the import file.Assuming there are no other issues, what should happen when the administrator uploads the import file?

The import will succeed, and the administrator will be named as the default Account Owner.

The import will succeed, and the Account Owner field will be left blank.

The import will succeed, and the administrator will be prompted to select a user.

The import will fail, since all records in Salesforce must have an owner.

The import will succeed, and the administrator will be named as the default Account Owner.

A system administrator at a financial services company wants to build a report to show Interest Tags.Which two things should the administrator consider when configuring the report?

When the user defines the custom report type, Topics should be selected as the Primary Object.

To show Interest Tags applied to specific objects, the user can add a filter in the report and select the object name.

When the user defines the custom report type, Tag Categories should be selected as the Primary Object.

When the user defines the custom report type, Topics should be selected as the Primary Object.

The user must build a report using the Topics object to view Interest Tags in the report.

To show Interest Tags applied to specific objects, the user can add a filter in the report and select the object name.

The Compliant Data Sharing (CDS) feature lets administrators and compliance managers configure advanced data-sharing rules so that they can improve compliance with regulations and company policies.Which three things should be considered when implementing CDS in Financial Services Cloud (FSC)?

CDS in FSC allows record owners to grant access to their records to other FSC users.

CDS can only be applied to FSC objects and Account and Opportunity objects.

To get the benefits of CDS, administrators must set organization-wide sharing settings for supported objects to the Private access model.

To disable CDS for an object, any Participant Roles associated with that object must be deleted first.

CDS in FSC allows record owners to grant access to their records to other FSC users.

CDS can only be applied to FSC objects and Account and Opportunity objects.

To get the benefits of CDS, administrators must set organization-wide sharing settings for supported objects to the Private access model.

Users above the record owner in the Role Hierarchy and non-record owners with Edit access granted through CDS have the same ability/access as record owners,

Cumulus Cloud Bank is asking the consultant to explain some tools available to integrate Salesforce into several of its back-end/core systems.Which three capabilities should a consultant recommend?

Industry Integration Solutions with the MuleSoft Anypoint Platform

OmniStudio Integration Procedures

Industry Integration Solutions with the MuleSoft Anypoint Platform

OmniStudio Integration Procedures

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 should a consultant suggest to Cumulus Bank to implement?

The standard mortgage flow templates to build a mortgage flow in Financial Services Cloud

Flow Builder to automate these business processes

The standard mortgage flow templates to build a mortgage flow in Financial Services Cloud

Flow Builder to automate these business processes

A Mortgage Application' custom object to hold the collected client data

Data Import Wizard to upload the data collected in spreadsheets

A financial institution is concerned about contacting clients or sharing their data when they have requested not to be contacted.Which action should the consultant take in Financial Services Cloud to address the institution's concern?

Implement Consent Management for Financial Services Cloud.

Integrate the Consent object with their Consent Platform to track it in Salesforce.

Hide the client's contact information and add an approval process for allowing a user to access it to contact the client.

Implement Consent Management for Financial Services Cloud.

Enable and implement the iate Regulation checkbox on the client record to track their request.

A financial services company must add details to the default business hours record. For company-wide holidays, the company wants the option to skip non-work days in Action Plan when setting task completion dates.What should the administrator configure to meet the requirement?

Configure the day without business hours, it is considered a non-work day, even if the day is a recurring holiday.

Omit the day's start and end time fields when the administrator wants to indicate a non- working day.

Select Recurring Holidays as Action Plans and consider recurring holidays when determining the non-work days to skip.

Configure the day without business hours, it is considered a non-work day, even if the day is a recurring holiday.

Add non-work days to the date offset when calculating the task completion date is automatic; no setup is required.

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?

Actionable Relationship Center (ARC), an advanced visualization engine

Data Filtering and Sorting in Tableau Desktop

Financial Services Cloud Einstein

Data Visualization with Marketing Cloud Intelligence

Actionable Relationship Center (ARC), an advanced visualization engine

Which three permission sets grant access or extend permissions for record alerts in Financial Services Cloud (FSC)?

OmniStudio Admin permission set

Cumulus Insurance has a franchise business model with a large number of franchisees who operate independently but report to regional managers who are Cumulus employees. The company would like the franchise owners and their employees to have access to the Cumulus Salesforce Financial Services Cloud (FSC) instance. The company plans to use the Role Hierarchy and sharing rules to implement this. What should the architect at Cumulus Insurance be aware of for this solution?

The administrator can define up to 300 total sharing rules for each object.

Franchise users will need to switch their browsers to a platform that supports Lightning Web Components.

Salesforce FSC only allows 1,024 public groups.

The administrator can define up to 300 total sharing rules for each object.

Franchise users can have multiple roles in the hierarchy.

Salesforce Certified Financial Services Cloud Practice Test 4

A wealth management firm is looking to start tracking its clients' hobbies for marketing purposes in Salesforce. Which Financial Services Cloud feature is most suitable for this?

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Salesforce Certified Financial Services Cloud Practice Test 4

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