Salesforce Certified Financial Services Cloud Practice Test - Questions Answers, Page 15

The relationships between the parties when the Financial Services Cloud consultant sets up Rachel's person account should be as follows:

Primary Group Household - Addams Household

Primary Member - Rachel Addams

Spouse - Nigel Adams

Trustee - Addams Charitable Trust

Household - Symonds Household

Primary Member - Neil Symonds

Beneficiary - Rachel Addams

Related Accounts - Addams Charitable Trust

Related Contacts - Ivan M. Kohl

A person account can belong to multiple households, but only one household can be the primary group. The primary group is the household that represents the person account's primary financial relationship. The primary member of a household is the person account who is the main contact for that household. A person account can also have other relationships with households, such as beneficiary, trustee, or power of attorney. A household can have related accounts and contacts that are not part of the household, but are associated with it for some reason.

Interaction Summaries are records that capture the details of a client interaction, such as a meeting, a call, or an email. Interaction Summaries can be linked to Financial Deals, which are records that represent a business opportunity or transaction with a client. Interaction Summaries and Financial Deals can have participants, which are records that represent the people or groups involved in the interaction or deal. Participants can have different roles, such as advisor, client, specialist, or decision maker. Participant Role is a custom object that defines the possible roles for participants.

Enable Compliant Data Sharing for Interaction Summaries, Use Interaction Summary Participants to provide the right access to individuals or groups, and Disable Role-Hierarchy-Based Sharing for Interaction Summaries.

Compliant Data Sharing is a feature that allows granular control over access to sensitive data in Financial Services Cloud. By enabling Compliant Data Sharing for Interaction Summaries, the bank can restrict access to the detailed notes field on the Interaction Summary object. By using Interaction Summary Participants, the bank can grant access to specific individuals or groups who need to see the notes for certain interactions. By disabling Role-Hierarchy-Based Sharing for Interaction Summaries, the bank can prevent users from inheriting access to Interaction Summaries from their managers or peers in the role hierarchy.

A primary member is the person account who is the main contact for a household or a group. Only one person account can be the primary member of a household or a group. The primary member is also used to calculate rollups for the household or group, such as total assets, liabilities, net worth, and so on. The advisor should designate either Oliver or Macie as the primary member of the Dogging ton household, but not both.

A flex card is a Lightning web component that displays information about a node in the Actionable Relationship Center (ARC). A flex card can be customized to show different fields, actions, and related lists for different node types. Developers can reference the flex card in the Display properties of the custom ARC relationship graph to configure how each node is displayed in ARC.

Record Alerts are a feature of Financial Services Cloud that allow users to create and display alerts on records that require action or attention. Record Alerts can help users prioritize their work, communicate important information, and collaborate with other users. Record Alerts can be created on any custom object or standard object that supports custom fields, such as Financial Account, Contact, or Opportunity.

To create record alerts, users need to have the following permissions:

Read and Edit access to the record that they want to create an alert for

Create access to the Record Alert object

Read access to the Record Alert Category object

Some possible reasons why the user can't find any reciprocal roles displayed in the related role lookup are:

Reciprocal roles have not been created in the org. Reciprocal roles are custom objects that define the possible roles for users who need access to Account or Contact records. For example, a reciprocal role can be Advisor, Client, Specialist, or Decision Maker. Each reciprocal role has an associated access level that determines what data fields the user can view or edit. To create reciprocal roles, the administrator needs to do the following steps:

From Setup, open Object Manager.

In the Quick Find box, enter Reciprocal Role, and then select Reciprocal Role.

Click Fields & Relationships, and then select Role Name.

Click New to create a new picklist value for the Role Name field.

Enter a label and a value for the new role, such as Attorney or Client.

Click Save.

The user should be using the Edit Group button to access reciprocal roles. The Add Contact option on the relationship tree only allows the user to add existing contacts as members of a relationship group, such as a household or a business group. The user cannot specify reciprocal roles for the members using this option. To specify reciprocal roles for the members of a relationship group, the user needs to do the following steps:

Click Edit Group on the relationship group record page.

In the Edit Group window, click Member Relationships.

For each member of the group, select a role from the Role picklist and a related role from the Related Role lookup.

Click Save.

When using Data Loader to insert new records into Salesforce, if the Account Owner field is not specified in the import file, the default owner will be the user who is logged into Data Loader. In this case, since the administrator is logged into Data Loader with their own credentials, they will be assigned as the owner of all the new Business Account records. This behavior is consistent with the standard Salesforce rule that every record must have an owner.

About Data Loader

Mass update Account ownership with Data Loader