A financial services company would like its users to be able to relate two business accounts. What should the administrator configure to meet the requirement?
A. Create a new Contact Reciprocal Role for the required value.
B. Update the Role picklist on the Account-Account Relationship object with new value.
C. Create a new Account Reciprocal Role for the required value.
D. Update the Role picklist on the Account-(?ontact Relationship object with new value.
Explanation:
To configure Financial Services Cloud to allow users to relate two business accounts, the administrator should update the Role picklist on the Account-Account Relationship object with new value. The Role picklist is a field on the Account-Account Relationship object that defines the type of relationship between two accounts, such as Household Member, Business Owner, Trustee, or Friend. The Role picklist is used to filter and display the account-account relationships in the Actionable Relationship Center (ARC). To update the Role picklist, you need to go to Setup > Object Manager > Account-Account Relationship > Fields & Relationships > Role and add or remove values according to your business needs. Verified References: : Salesforce Help Article [10] : Salesforce Help Article [11]
Cumulus Bank has implemented Compliant Data Sharing in Financial Services Cloud. Which two things happen when an opportunity record that has opportunity participants with associated share table entries is set to Private?
A. The share table records are deleted.
B. Share table records need to be manually deleted.
C. All opportunity participant records are delete
D. The opportunity participant records are not deleted.
Explanation:
The following things happen when an opportunity record that has opportunity participants with associated share table entries is set to Private:
The share table records are deleted, which means that any sharing access granted by the opportunity participants is revoked.
The opportunity participant records are not deleted, which means that they still exist on the opportunity record and can be viewed by users who have access to the opportunity.
Jen, the Financial Advisor at Lake Tahoe Wealth Management Company wants to modify a published Action Plan to support an additional task she needs in order to complete an annual review for a client. How should Jen do this?
A. Use the 'task creator' tool to create a new task and associate with the existing Action Plan
B. Contact her Salesforce Administrator and get her to make the change to the Action Plan for her.
C. Use the Action Plan item feature to add an additional task to a published Action Plan.
D. Create an independent Task not related to original Action Plan
Explanation:
To modify a published Action Plan to support an additional task, Jen should use the Action Plan item feature to add an additional task to the published Action Plan. An Action Plan item is a construct in Financial Services Cloud that allows you to add, edit, or delete tasks in an existing Action Plan. You can use Action Plan items to customize your Action Plans according to your specific needs and preferences. Verified References: : Salesforce Help Article 1
How can the Salesforce Admin help agents who deal with a large number of customers on a daily basis, quickly scan the Life Events component and find the information they need without much effort?
A. The Admin can customize the order of life events to be set in chronological order.
B. The user can change the color of important life events to red.
C. The Admin can change the color of important life events to red.
D. The user can customize the order of life events to be set in chronological order
Explanation:
The Admin can change the color of important life events to red by using custom CSS in a Lightning App Builder theme layout component. This way, the agents can quickly scan the Life Events component and find the information they need without much effort. The color red can draw attention and indicate urgency or importance for certain life events.
A financial services company wants to plan ahead for designing the Financial Services Cloud (FSC) implementation. Which three activities should the implementation team prioritize during planning?
A. Prepare for integrations with transactional systems, external data sources, custodians, and any other platforms that the company's business relies on.
B. Beyond the preconfigured settings, evaluate whether they need advanced customizations.
C. Enable and configure person accounts in FSC, and assign users with permission set licenses.
D. Review the out-of-the-box capabilities and compare them to the company's current needs.
E. Design the modifications to fields, picklists, layouts, and othKrequired features to support business processes.
Explanation:
The following activities should be prioritized by the implementation team during planning for designing the Financial Services Cloud implementation:
Prepare for integrations with transactional systems, external data sources, custodians, and any other platforms that the company’s business relies on. Integrations are the connections or interactions that allow data or functionality to flow between different systems or platforms. You should prepare for integrations with your existing or new systems or platforms that support your business processes, such as transactional systems, external data sources, custodians, or other platforms. You should also consider the integration methods, tools, requirements, and challenges that you will need to address during the implementation.
Beyond the preconfigured settings, evaluate whether they need advanced customizations. Customizations are the changes or modifications that you make to Salesforce to meet your specific business needs or preferences. You should evaluate whether you need advanced customizations beyond the preconfigured settings that Financial Services Cloud provides out of the box, such as custom objects, fields, formulas, validation rules, workflows, triggers, or components. You should also consider the impact, benefits, and risks of your customizations on your data model, user interface, performance, security, or maintenance.
Review the out-of-the-box capabilities and compare them to the company’s current needs. Out-of-the-box capabilities are the features or functions that Financial Services Cloud offers without any customizations or configurations. You should review the out-of-the-box capabilities and compare them to your company’s current needs and expectations. You should also identify any gaps or opportunities for improvement that you can address with configurations or customizations during the implementation. Verified References: : Salesforce Help Article [12] : Salesforce Help Article [13] : Salesforce Help Article [14]
A consultant is building an agent console for an insurance company using FlexCards to provide a 360-degree view of its customers. An Integration Procedure will be used to retrieve Account, Opportunity, and Contract data. The agent wants the following information displayed:
• Account information including account name, phone, and website
• Active opportunities related to the Account
• Active insurance policies related to the Account
• The ability to view and renew policies
How should the consultant design the FlexCards to meet these requirements?
A. Parent FlexCard with single Child and Card Actions
B. Parent FlexCard with multiple Q**jld Flex Cards and Card Actions
C. Parent FlexCard with multiple Cnrraren and different Card States
D. Parent FlexCard with single Child and multiple Card States
Explanation:
The consultant should design the FlexCards as follows to meet the requirements:
Parent FlexCard with multiple Child Flex Cards and Card Actions. A Parent FlexCard is a construct in Financial Services Cloud that allows you to display information from one record in a card-like format on a Lightning page. A Child FlexCard is a construct in Financial Services Cloud that allows you to display information from related records in a card-like format within a Parent FlexCard. A Card Action is a construct in Financial Services Cloud that allows you to perform actions on a record from within a FlexCard, such as edit, delete, renew, or view details. You can use Parent FlexCards, Child FlexCards, and Card Actions to create an agent console that provides a 360-degree view of your customers and enables quick actions on their records. Verified References: : Salesforce Help Article [6] : Salesforce Help Article [7] : Salesforce Help Article [8]
How are identification documents, other assets, liabilities, goals, and revenue modeled, in an existing Financial Services Cloud org using the individual account model?
A. An administrator is logged in to 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.
B. Assuming there are no other issues, what should happen when the administrator uploads the import file? The Attachment object is used to represent other assets, liabilities, and goals. In the individual model, these attachments are related to the Account object.
C. Custom obiects are used to represent other assets, liabilities, and goals. In the individual model, these objects are related to the Account oJ Nj.
D. Document, Note, and Attachment objects are used to represent other assets, liabilities, and goals. In the individual model, these objects are related to the person account.
Explanation:
In an existing Financial Services Cloud org using the individual account model, custom objects are used to represent other assets, liabilities, and goals. These objects are related to the Account object via lookup relationships. For example:
The Other Asset object is used to represent non-financial assets owned by an account holder, such as real estate properties, vehicles, or jewelry.
The Other Liability object is used to represent non-financial liabilities owed by an account holder, such as mortgages, loans, or taxes.
The Financial Goal object is used to represent financial objectives pursued by an account holder, such as retirement planning, education funding, or debt reduction. Verified References: : Salesforce Help Article [10] : Salesforce Help Article [11] : Salesforce Help Article [12]
The Salesforce Admin at Lake Tahoe Bank considering implementing Financial Services Cloud. What is the best way for the Admin to access a Financial Services pre-configured org, including data and the right licenses, to learn about the product?
A. Request a 30-day Financial Services Cloud trial org
B. Request a Salesforce developer org.
C. Purchase one license of Financial Services Cloud and install it in a production org.
D. Spin up a Salesforce sandbox org.
Explanation:
The best way for the Admin to access a Financial Services Cloud pre-configured org, including data and the right licenses, to learn about the product is to request a 30-day Financial Services Cloud trial org. You can sign up for the 30-day trial using this form 4. You get preconfigured and preloaded sample data so you can start playing around in your new org right away. Once you’re done testing it out, you can transition your trial org to a production org with the help of your account executive or solution engineer. Verified References: : Trailhead Module 5
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?
A. In a household, each household member is modeled as a Contact, and the household is modeled as an Account.
B. In a household, each of the household members is modeled as a Person Account and the household is modeled as an Account.
C. Role Hierarchy-based sharing can be disabled for the Financial Deal object but can't be disabled for the Opportunity object.
D. Both the Financial Deal object and the Opportunity object support Compliant Data Sharing.
E. Interaction Summary is an enhancement of the standard Activity object. FSC implementations should use Interaction Summary as a replacement for the Activity object.
Explanation:
Reference: [Reference: Set Up Clients, Households, and Relationships, Compliant Data Sharing in Financial Services Cloud | Salesforce Trailhead, Track Client Interactions - Salesforce, Explanation: Some considerations when adopting FSC-related objects are:, In a household, each household member is modeled as a Contact, and the household is modeled as an Account. A household is a type of relationship group that represents a group of clients who have a direct relationship with one another and shared financials, such as spouses and their dependent children. A household is modeled as an Account record with a custom record type of Household.
Each household member is modeled as a Contact record that is related to the household Account. A household can also have related accounts and contacts that are not part of the household, but are associated with it for some reason., Both the Financial Deal object and the Opportunity object support Compliant Data Sharing. Compliant Data Sharing (CDS) is a feature of FSC that allows granular control over access to sensitive data in Account and Opportunity objects. CDS can help financial services companies comply with regulations and policies that restrict data visibility based on user roles. CDS can also be enabled for the Financial Deal object, which is a custom object that represents a business opportunity or transaction with a client. The Financial Deal object can be used instead of or in addition to the Opportunity object, depending on the business needs., Interaction Summary is an enhancement of the standard Activity object. FSC implementations should use Interaction Summary as a replacement for the Activity object.
Interaction Summary is a custom object that captures the details of a client interaction, such as a meeting, a call, or an email. Interaction Summary can be linked to other FSC objects, such as Financial Accounts, Financial Goals, Financial Deals, or Relationship Groups. Interaction Summary can also have participants, which are records that represent the people or groups involved in the interaction., , , ]
A consultant is working with a new customer and has gained a firm understanding of their business processes and systems in preparation for implementing Salesforce Financial Services Cloud. What should the consultant create as a deliverable for the current state business process?
A. Word document telling the story of the process from the user's perspective
B. An Excel spreadsheet with steps of the process as rows, and systems and personas in columns
C. An end-to-end visualjmap of the process using personas, systems, inputs, and outcomes
D. A Powerpoint deck wftJscreenshots of the current systems and callouts to what is happening on each slide
Explanation:
To document the current state business process for implementing Salesforce Financial Services Cloud, the consultant should create an end-to-end visual map of the process using personas, systems, inputs, and outcomes. A visual map is a tool that can help illustrate the flow of a business process from start to finish, showing the steps, decisions, and dependencies involved in each stage. A visual map can also include personas, systems, inputs, and outcomes to provide more context and detail for each step of the process. Personas are fictional characters that represent the different roles or users that participate in or interact with the process. Systems are the tools or applications that are used to perform or support the process. Inputs are the data or information that are required or provided for each step of the process. Outcomes are the results or outputs that are achieved or delivered by each step of the process.
Verified References: : Salesforce Help Article 3 : Salesforce Help Article [4]
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