Salesforce Certified Financial Services Cloud Practice Test - Questions Answers, Page 8

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

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.

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.

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.

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

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

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.

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