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NEW QUESTION # 99
A financial services company needs a custom field for reporting when relating two business accounts to each other. Which object should the administrator configure the custom field on?
- A. Account Account Relationship
- B. Contact-Contact Relationship
- C. Account Contact\Relationship
- D. Account
Answer: A
Explanation:
To configure a custom field for reporting when relating two business accounts to each other, the administrator should configure the custom field on the Account-Account Relationship object. The Account-Account Relationship object is acustom object in Financial Services Cloud that allows you to create and manage relationships between two accounts, such as Household Member, Business Owner, Trustee, or Friend. You can use the Account-Account Relationship object to store additional information about the relationship between two accounts, such as role, start date, end date, or status. You can also use the Account-Account Relationship object to report on the account-account relationships and analyze their impact on your business.
Verified References: : Salesforce Help Article [4] : Salesforce Help Article [5]
NEW QUESTION # 100
Which 3 out of the box capabilities come with Financial Services Cloud Lead & Referral Management?
- A. Referral Automated Approvals
- B. Assigning a Referral
- C. Referral Conversion
- D. Accepting a Referral
- E. Round Robin Referral Routing
Answer: B,C,D
NEW QUESTION # 101
Lake Tahoe Bank's System Administrator is implementing intelligent Need-Based Referrals in Salesforce.
Referrals are modeled on the Lead object. Which three Lead features can the System Admin use for Intelligent Need-Based Referrals?
- A. Lead Assignment Rules
- B. Lead Approval
- C. Web to-Lead
- D. Lead Routing
- E. Einstein Lead Scoring
Answer: A,D,E
Explanation:
The System Admin can use the following Lead features for Intelligent Need-Based Referrals:
Lead Routing, which is a feature that allows users to distribute leads to the right users or queuesbased on criteria such as lead source, industry, or product interest.
Lead Assignment Rules, which are rules that specify how to assign leads to users or queues when they are created manually, captured from the web, or imported via Data Import Wizard.
Einstein Lead Scoring, which is a feature that uses artificial intelligence to analyze historical data and predict how likely a lead is to convert. Einstein Lead Scoring assigns a score and an insight to each lead, which can help users prioritize and follow upon the most promising leads.
NEW QUESTION # 102
A private equity company with only one administrator wants to upgrade Financial Services Cloud (FSC) from a Sales Cloud Unlimited Edition (UE) org. The company decided to install FSC greenfield on a new org to minimize the transfer of existing tech debt. In preparation for data migration, the administrator has been exporting backup files of the current org for a month.
What should the administrator do as part of the preparation for the data migration process?
- A. The administrator can ask the business manager on the investment bank team to review the file directly.
- B. After running the backup data export manually for 2 weeks, the administrator can schedule this job to run weekly every Sunday to review the file on Mondays atthe start of the week for data comparisons
/analysis. - C. As a dry run, the administrator can test this process via a data export request from the primary sandbox to the existing Sales Cloud UE org.
- D. To start, the administrator can run a daily backup dataexport for a week, then continue to run this job weekly until they are ready for data migration.
Answer: D
Explanation:
As part of the preparation for the data migration process, the administrator should run a daily backup data export for a week, then continue to run this job weekly until they are ready for data migration. This is a best practice for data migration in Salesforce that allows the administrator to identify the data they want to migrate, create templates for the data, prepare the destination org, and validate the data2. By running a daily backup data export for a week, the administrator can captureany changes or updates in the data and compare them with previous exports. By continuing to run this job weekly until they are ready for data migration, the administrator can ensure that they have the most recent and accurate data to migrate into Financial Services Cloud.Verified References: 2
NEW QUESTION # 103
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?
- A. The user should be using the Edit Group button to access reciprocal roles.
- B. Reciprocal roles have not been created in the org.
- C. The user should be using the Member Relationship button under the Actionable Relationship Center.
- D. Sharing rules have not beenset up for reciprocal roles.
Answer: A,B
Explanation:
Reference: Configure Reciprocal Roles - Salesforce
Explanation: 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 theuser 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 thenselect 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 reciprocalroles 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 Rolepicklist and a related role from the Related Role lookup.
Click Save.
NEW QUESTION # 104
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?
- A. Ensure all individual account records to be converted are only linked to exactly one contact record.
- B. Ensure each individual account to be converted is not a parent account of any other account records.
- C. Update all opportunities linked to individual account records to be owned by the individual account record's owner.
- D. Ensure each account.phone field in the individual account record is blank.
- E. Test out the conversion in a sandbox, including all integrations and customizations.
Answer: A,B,E
Explanation:
Reference: Transform the Individual Data Model to Person Accounts in Financial Services Cloud Explanation: To prepare for converting from the individual account model to person accounts in Financial Services Cloud, the consultant should do the following tasks:
Ensure all individual account records to be converted are only linked to exactly one contact record. A person account is a combination of an account and a contact record that represents an individual customer. To convert an individual account record to a person account record, the individual account record must have exactly one contact record related to it. If an individual account record hasno contact records or more than one contact records related to it, it cannot be converted to a person account record.
Test out the conversion in a sandbox, including all integrations and customizations. A sandbox is a copy of a Salesforce org that can beused for testing and development purposes. Before converting from the individual account model to person accounts in production, the consultant should test out the conversion process in a sandbox to ensure that it works as expected and does not cause any errors or issues with existing integrations and customizations.
Ensure each individual account to be converted is not a parent account of any other account records. A parent account is an account record that has one or more child accounts related to it by ahierarchical relationship. To convert an individual account record to a person account record, the individual account record must not be a parent account of any other account records. If an individual account record is a parent account of any other account records, it cannot be converted to a person account record.
NEW QUESTION # 105
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?
- A. Create a custom picklist on the Financial Account object totrack the Typ
- B. Create Account lookup fields on the Financial Account object to link the Financial Accounts to an Account.
- C. Add the Financial Account List component to the Account Lightning record page.
- D. Configure the Financial Account List components for each required category.
- E. Configure Financial Account record types to match the required categories.
Answer: A,B,D
Explanation:
The following considerations should be included when configuring the report with branch management reportable objects:
Bankers with Branches withOpportunities, Accounts, Leads, and Contacts report types are available for creating reports with Branch Unit Related Records. These are standard report types that allow users to create reports that show data from Banker, Branch Unit, Opportunity, Account,Lead, Contact, and Branch Unit Related Record objects.
The reportable objects include Banker, Branch Unit, Branch Unit Related Records, and Branch Unit Customer. These are custom objects that are part of the branch management feature in Financial ServicesCloud. Banker is an object that represents a banker or an employee who works at a branch unit.
Branch Unit is an object that represents a physical location where bankers provide services to customers.
Branch Unit Related Record is an object that represents a record that is related to a branch unit, such as an opportunity, an account, a lead, or a contact. Branch Unit Customer is an object that represents a customer who has a relationship with a branch unit.
When Branch Unit is the primary object, the administrator can select Branch Unit Customers or Branch Unit Related Records as related objects. This means that the administrator can create reports that show data from Branch Unit and its related objects by using lookup fields or junction objects.
NEW QUESTION # 106
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 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 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?
- A. Perform a data backup.
- B. Enable a person account in a sandbox.
- C. Configure Person Account record types.
- D. Enable person accounts in FS
Answer: A
Explanation:
The relationships between the parties when the FinancialServices 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
Reference: Work with Records Unit | Salesforce Trailhead
Explanation: 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 primarymember 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.
NEW QUESTION # 107
Lake Tahoe Bank would like to capture their commercial customers in FSC. A commercial customer can be owned by multiple groups. How can Lake Tahoe Bank SF Admin configure FSC to capture and display commercial customer and its parent company ? (3 correct answers)
- A. Enable Relationship Group Hierarchy in Custom Metadata
- B. Add the Business record type to the Group record type mapper
- C. Capture the majority owner as parent account using Account hierarchy
- D. LeverageGroups to capture the majority owner and Account hierarchy to capture minority owner
- E. Link multiple owners to the business entity as a Group
Answer: B,D,E
Explanation:
To capture and display commercial customersand their parent companies, Lake Tahoe Bank SF Admin can use the following steps:
Add the Business record type to the Group record type mapper, which is a custom metadata type that defines which record types can be added as members of a group1.
Leverage Groups to capture the majority owner of acommercial customer, which is a business entity that has a stake in another business entity1. Groups are a feature that allows users to create and managehousehold and business relationships1.
Use Account hierarchy to capture minority owners of a commercial customer, which are business entities that have less than 50% stake in another business entity2. Account hierarchy is a feature that allows users to see how accounts are related to each other in a parent-child relationship2.
Link multiple owners to the business entity as a Group, which allows users to see all the stakeholders of a commercial customer in one place1
NEW QUESTION # 108
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. A Powerpoint deck wftJscreenshots of the current systems and callouts towhat is happening on each slide
- B. An Excel spreadsheet with steps of the process as rows, and systems and personas in columns
- C. Word document telling the story of the process from the user's perspective
- D. An end-to-end visualjmap of the process using personas, systems, inputs, and outcomes
Answer: D
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 providemore 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 supportthe 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]
NEW QUESTION # 109
A new custom object has been created, and the records of this object will be created throughintegration with another system What should a consultant do to ensure the data is loading into the correct fields in Financial Services Cloud?
- A. Use a CSV file with the data created and use Data Loader to map to the correct field
- B. Utilize a field mapping file with the external system (allocation and the corresponding field in Salesforce
- C. Ensure custom metadata is configured and each custom metadata record details where the data will be sent
- D. Create a junction object between the external system and the new customer object where the data will reside
Answer: B
Explanation:
To ensure the data is loading into the correct fields in Financial Services Cloud, the consultant should utilize a field mapping file with the external system allocation and the corresponding field in Salesforce. A field mapping file is a file that specifies how fields from an external system map to fields in Salesforce. By using a field mapping file, the consultant can ensure that the data from the new custom object is imported into the correct fields in Financial Services Cloud and avoid any data loss or inconsistency.
NEW QUESTION # 110
A financial services company needs to capture a new type of referral that has different required fields than what is currently configured inthe org.
Which three steps should the administrator take to configure Financial Services Cloud correctly based on the scenario?
- A. Create a new record type Referral' on the Lead object.
- B. Update the lead page layout.
- C. Create a custom Referral object.
- D. Create a new referral record type mapper record.
- E. Assign the record type to users.
Answer: A,B,E
Explanation:
The following steps should be taken by the administrator to configure Financial Services Cloud correctly based on the scenario:
Assign the record typeto users. You need to assign the new record type to the user profiles or permission sets that need to create or access referrals of that type. You can assign record types by going to Setup > Profiles > Object Settings > Leads > Record Types or Setup > Permission Sets > Object Settings > Leads > Record Types.
Create a new record type Referral' on the Lead object. You need to create a new record type on the Lead object and name it Referral. You can use this record type to distinguish referrals from other types of leads and apply different page layouts, business processes, or validation rules for referrals.
Update the lead page layout. You need to update the page layout for the Referral record type and add or remove fields according to the requirements. You canalso make some fields required or read-only on the page layout level. You can edit page layouts by going to Setup > Object Manager > Lead > Page Layouts. Verified References: : Salesforce Help Article 3 : Salesforce Help Article [4] : Salesforce Help Article [5]
NEW QUESTION # 111
An insurance company needs to ensure the record rollups aggregate information from related records for several objects in the Financial Services Cloud at a client orgroup level.
What should the administrator configure to meet the requirement?
- A. When the administrator enables record rollups at the group level, all corresponding records are stamped with the Primary Group in the Rallup_c lookup field
- B. To show all Primary Group member cases on a related list at the group level, the administrator should add Cases as a picklist value to the Rollup__c field on Account Contact Relationship.
- C. To show all Primary Group member opportunities on a related list at the group level, the administrator should add Opportunities as a picklist value to the Household__c field on Account Contact Relationship.
- D. Client-level records are aggregated by setting up client-level rollups to all primary group members.
Answer: A
Explanation:
According to the Salesforce documentation1, record rollups at the group level allow you to aggregate information from related records for several objects in Financial Services Cloud. When you enable record rollups at the group level, all correspondingrecords are stamped with the Primary Group in the Rollup__c lookup field. This field is added to the Account, Contact, Account Contact Relationship, and Financial Account objects. You can then use this field to create reports and dashboards that show aggregated data for each group.
NEW QUESTION # 112
What actions can a Wealth Advisor take from the Life Events card7
- A. Request Record Approval
- B. Create Opportunity
- C. Create Lead & Referral
- D. Create Case
- E. Open an Account
Answer: A,B,C
Explanation:
From the Life Events card, a Wealth Advisor can take the following actions:
Create Lead & Referral: This action creates a lead record for a new prospector a referral record for an existing client based on the life event information.
Request Record Approval: This action initiates an approval process for the life event record to ensure compliance and quality standards.
Create Opportunity: This actioncreates an opportunity record to track the potential revenue from the life event. Verified References: : Salesforce Financial Services Cloud User Guide, page 30. : Salesforce Financial Services Cloud User Guide, page 31. : Salesforce Financial Services Cloud User Guide, page 32.
NEW QUESTION # 113
Which three referral metrics aretracked with custom components included in Financial Services Cloud?
- A. My Top Referrers
- B. Web to Lead Referrals
- C. Expressed interests
- D. My Approved Referrals
- E. Referrals Assigned to me
Answer: A,C,E
Explanation:
The following referral metrics are tracked withcustom components included in Financial Services Cloud:
Expressed interests: This metric shows the number of referrals that have a specific expressed interest, such as a mortgage, a credit card, or a checking account. You can use this metric to understandthe customer needs and interests that generate the most referrals.
My Top Referrers: This metric shows the top referrers who have created referrals for you, ranked by the number of referrals and the conversion rate. You can use this metric to identify andappreciate your best sources of business.
Referrals Assigned to me: This metric shows the number of referrals that are assigned to you and their status, such as New, In Progress, or Closed. You can use this metric to monitor and manage your referral pipeline and prioritize your follow-up actions. Verified References: : Salesforce Financial Services Cloud User Guide, page 40. : Salesforce Financial Services Cloud User Guide, page 41. : Salesforce Financial Services Cloud User Guide, page 42.
NEW QUESTION # 114
The Salesforce Admin of Lake Tahoe Bank wants to implement Financial Services Cloud using the individual object model. What are the steps to disable person accounts? (Choose Three)
- A. Assign the Individual record type to the user profiles.
- B. Log a case with Salesforce to perform the conversion from Person Accounts to the individual model.
- C. Remove Person Account record types from the Individual Record Type Mapper.
- D. Assign the Person Account record type to the user profiles.
- E. Disable the Person Account custom setting.
Answer: A,B,C
Explanation:
The following steps are required to disable Person Accounts and use the Individual object model in Financial Services Cloud:
Log a case with Salesforce to perform the conversion from Person Accounts to the individual model. You need to contact Salesforce Support to request the conversion from Person Accounts to the individual model.
This is an irreversible process that affects your data model and user interface. You should carefully evaluate your business needs and test the functionality in a sandbox or developer org before requesting the conversion in production.
Remove Person Account record types from the Individual Record Type Mapper. You need to remove any Person Account record types that are mappedto Individual record types in the Individual Record Type Mapper. This is a custom setting that defines how records are created when using certain features, such as Einstein Data Capture or Salesforce Inbox. You can access this setting by going to Setup >Financial Services Settings > Individual Record Type Mapper.
Assign the Individual record type to the user profiles. You need to assign the Individual record type to the user profiles that need to create or access Individual records. The Individual recordtype is a standard record type on the Account object that represents an individual person who is not directly related to your business, such as a prospect, influencer, or household member. You can assign record types by going to Setup > Profiles > Object Settings > Accounts > Record Types. Verified References: : Salesforce Help Article 5 :
Salesforce Help Article 6 : Salesforce Help Article 7
NEW QUESTION # 115
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