Salesforce Certified Financial Services Cloud Practice Test - Questions Answers

Flows provide step-by-step guidance for common service requests, such as change of address, or change of beneficiary, without the need to navigate to different screens. Flows can simplify and streamline the customer onboarding process by automating tasks and collecting information in an easy and intuitive way. You can use Flows to create service requests that capture the customer's details and update the related records in one place.

Flows enable customers to schedule appointments via customer communities, mobile apps. or websites. Flows can integrate with Experience Cloud sites, mobile apps, or websites to provide self-service options for customers. You can use Flows to create appointment scheduling forms that allow customers to book appointments with the right specialist at the right time and place. Verified

Reference: : Salesforce Help Article3: Salesforce Help Article4

The functionality that Rollup By Lookup (RBL) can provide for rolling up customer data at the client and group levels are as follows:

An RBL rule displays summary calculations of financial account information, such as account balances, net worth, total assets, total liabilities, and so on1.

When you edit a financial account record or primary group membership, the Rollup By 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. Verified

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To create a relationship between Rachel and her attorney before assigning the reciprocal role of ''Attorney'', the Wealth Advisor should create a Contact-Contact Relationship between the primary member of the Adams Household and the attorney.A Contact-Contact Relationship is a junction object that links two contacts or individuals and defines their relationship with each other2.By using Contact-Contact Relationship, the Wealth Advisor can capture Rachel's extended network of relationships with people outside of her household. Verified

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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 tasks that define a common client process1.

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 plan creator, or account team1. Verified

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The following records support Document Checklist Items out of the box in Financial Services Cloud:

Account: An Account is a record that represents a person or an organization that has a business relationship with your company. You can use Document Checklist Items to request and track documents from your account holders, such as identity proofs, tax forms, or contracts.

Residential Loan Application: A Residential Loan Application is a record that represents a request for a loan to purchase or refinance a residential property. You can use Document Checklist Items to request and track documents from your loan applicants, such as income statements, credit reports, or property appraisals.

Opportunity: An Opportunity is a record that represents a potential sale or deal for your products or services. You can use Document Checklist Items to request and track documents from your opportunity owners, such as proposals, quotes, or agreements. Verified

Reference: : Salesforce Help Article2: Salesforce Help Article3: Salesforce Help Article4

To give users access to the Financial Services Cloud Commercial Banking features, such as Commercial Banking Console Lightning app, Referrals List component, and Treasury Services object, the Admin needs to assign permission sets to the users.Permission sets are collections of settings and permissions that give users access to various tools and functions4.The Admin can use the following permission sets to enable Commercial Banking features for the users4:

FSC Commercial Banking Console User: This permission set gives users access to the Commercial Banking Console Lightning app, which is a custom app that provides a unified view of commercial banking clients and their financial needs4.

FSC Commercial Banking Referrals User: This permission set gives users access to the Referrals List component, which is a Lightning component that displays a list of referrals related to a business account4.

FSC Commercial Banking Treasury Services User: This permission set gives users access to the Treasury Services object, which is a custom object that represents a treasury service product or offering that a commercial banking client uses or is interested in4. Verified

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The following Permission Set Licenses give users access to Financial Services Cloud features:

Financial Services Cloud Standard: This license enables user access to a license with contractual restrictions for Financial Services Cloud and provides access to core objects such as accounts, contacts, leads, opportunities, cases, activities, reports, dashboards, and custom objects.This license also provides access to some Financial Services Cloud features such as Action Plans, Actionable Relationship Center (ARC), Branch Management, Complaint Management, Data Consumption Framework (DCF), Discovery Framework (DF), Document Generation (DG), Groups (Householding), Intelligent Document Automation (IDA), Intelligent Need-Based Referrals and Scoring (INRS), Referral Management (RM), Relationship Builder (RB), Relationship Groups (RG), Relationship Map (RM), Timeline (TL)1.

Action Plans: This license enables user access to the Action Plans feature, which allows users to create templates for common client processes, such as loan approval, account opening, or financial review.Action Plans can create repeatable tasks and automate the task sequences when executed2.

FSC Insurance: This license enables user access to the Insurance feature, which allows users to manage insurance policies and claims for clients.This license also provides access to some Insurance objects such as Policy, Claim, Coverage Type, Policy Product, Policy Product Offering. Verified

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To ensure that all users see Person Accounts, but only specific users can view Financial Accounts, the Admin should take the following steps:

Grant users access to the Financial Account object with permission set, which is a collection of settings and permissions that give users access to various tools and functions.The Admin can use permission sets to grant access to the Financial Account object and its fields to specific users or groups of users1.

Change Organization-wide Defaults (OWD) sharing on the 'Financial Accounts' object to Private', which is a setting that determines the baseline level of access that users have to records they do not own or share.By setting the OWD sharing on the 'Financial Accounts' object to Private', the Admin can ensure that only the record owners and users above them in the role hierarchy can view the Financial Accounts. Verified

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