2025 Latest Financial-Services-Cloud DUMPS Q&As with Explanations Verified & Correct Answers
Financial-Services-Cloud dumps Exam Material with 172 Questions
The FSC Accredited Professional Exam is an important credential for professionals who work in the financial services industry. It helps them to demonstrate their expertise in using the Salesforce Financial-Services-Cloud to manage client relationships, increase sales, and improve operational efficiency. Financial-Services-Cloud exam is also a great way for professionals to stay up-to-date with the latest trends and best practices in the financial services industry.
NEW QUESTION # 11
A commercial loan due diligence process is handled by multiple individuals at Lake Tahoe Bank. Lake Tahoe Bank wants an easy way for managers to distribute the work, to understand the % completion of the due diligence process per client and report on the performance of the department to show possible bottlenecks.
What FSC feature can Lake Tahoe Bank use to track this process?
- A. Action Plans
- B. Apex Tnggers on the task object
- C. Workflow Rules/Process Builder
- D. Flows
Answer: A
Explanation:
Explanation
Again, Action Plans are a feature that can help users track and manage common client processes. For a commercial loan due diligence process, users can create an Action Plan Template with tasks such as verifying income, checking credit history, appraising collateral, etc. Users can also assign different task owners and deadlines for each task to distribute the work and monitor the progress. Users can also use dashboards and reports to view the % completion of the due diligence process per client and report on the performance of the department to show possible bottlenecks.
NEW QUESTION # 12
Which three types of Account-Account relationships are displayed in the Actionable Relationship Center?
- A. Accounts & Groups
- B. Accounts & Businesses
- C. Accounts & Members
- D. Accounts & Peers
Answer: A,C,D
NEW QUESTION # 13
Which feature license can be assigned to a user record in Salesforce (2 answers)
- A. Console user
- B. Knowledge user
- C. Service cloud user
- D. Opportunity user
Answer: B,C
NEW QUESTION # 14
Which of the following is NOT an area that Salesforce Financial Services Cloud serves?
- A. Asset Management
- B. Corporate & Institutional Banking
- C. Lending Services
- D. Legal Services
Answer: D
NEW QUESTION # 15
A Salesforce administrator updating a record page to add a Chatter component to the Action Plan Lightning record page is unable to find the Chatter components for selection.
What is the reason for this?
- A. Admin users have to be assigned the Action Plans permission set.
- B. Feed tracking has to be enabled for the Action Plan object.
- C. Chatter has to be enabled for Action Plans via Chatter settings in setup.
- D. Salesforce is yet to roll out Chatter for the Action Plan object.
Answer: B
Explanation:
Explanation
Feed tracking has to be enabled for the Action Plan object in order to add a Chatter component to the Action Plan Lightning record page. Feed tracking allows you to see updates on records in Chatter feeds. You can enable feed tracking for custom objects, such as Action Plan, from the setup menu. Once feed tracking is enabled, you can add Chatter components, such as Feed or Publisher, to the record page using the Lightning App Builder. References: [Feed Tracking], [Chatter Components]
NEW QUESTION # 16
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. To start, the administrator can run a daily backup data export for a week, then continue to run this job weekly until they are ready for data migration.
- B. 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.
- C. The administrator can ask the business manager on the investment bank team to review the file directly.
- D. 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 at the start of the week for data comparisons/analysis.
Answer: A
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 capture any 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 Reference: 2
NEW QUESTION # 17
An advisor is setting up a Household in Financial Services Cloud for their new clients, Oliver and Macie Dogging ton. The advisor created a Person Account record for both Oliver and Macie, and a Household record for the Dogging ton household. While creating the Household group, the advisor attempted to input the below information but received an error.
Member Name: Oliver Dogging ton
Role in Group: Client
Primary Member: Enabled
Primary Group: Enabled
Activities and Objects to Roll Up: All
Member Name: Macie Dogging ton
Role in Group: Spouse
Primary Member: Enabled
Primary Group: Enabled
Activities and Objects to Roll Up: All
Based on the information provided, what caused the error that the advisor received?
- A. Spouse is not a valid Role within a Group.
- B. Primary Group -two individuals cannot designate the same Household as their Primary Group.
- C. Activities and Objects to Roll Up - two individuals cannot designate their activities to roll up to the same Household.
- D. Primary Member - two individuals cannot be designated as the Primary Member of the same Household.
Answer: D
Explanation:
Reference: [Customize Roles for Person Accounts and Individuals | Salesforce Help] Explanation: 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.
NEW QUESTION # 18
Which three standard fields are available to track a customer's retirement gial progress?
- A. Total Value
- B. Target Date
- C. Actual value
- D. Contributions
- E. Target value
Answer: B,C,E
NEW QUESTION # 19
Which tool to use to import data exceeding 50,000?
- A. Data Loader
- B. Data Import Wizard
Answer: A
NEW QUESTION # 20
Cumulus Cloud Bank must provide its customer service staff with real-time access to customer accounts, including the ability to view current transactions and balances. As a result, the bank expects a high volume of concurrent users at peak times.
Which option is most suitable?
- A. Embed custom Lightning web components on the Account and Financial Account pages, and use custom Apex to make callouts to the core system services.
- B. Use Salesforce Connect with External Objects to expose tables from the bank's core systems, and use custom Lightning web components to surfatKthem in the Salesforce Lightning Ul.
- C. Use Salesforce ConnecHvith External Objects to expose tables from the bank's core systems, and use the standard user interface (Ul) components to surface the records in Salesforce Lightning Ul.
- D. Use the Data Consumption Framework to connect to the bank's middleware.
Answer: A
Explanation:
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.
NEW QUESTION # 21
Cumulus Insurance's business processes are quite complex, and steps in the process may vary depending on the information captured.
Which three actions regarding functionality and features should a consultant suggest exploring to help guide Cumulus Insurance users through these processes?
- A. Configure Dynamic Lightning pages.
- B. Build custom Lightning pages that correspond to each stage of the business process.
- C. Enable In-App Guidance to provide walk-throughs.
- D. Configure Dynamic Actions for Lightning pages.
- E. Use flows to remove the neea for complex Lightning pages.
Answer: C,D,E
Explanation:
The following actions regarding functionality and features should be suggested to help guide Cumulus Insurance users through their complex business processes:
Configure Dynamic Actions for Lightning pages. Dynamic Actions are a feature that allows you to customize the actions that appear on a Lightning page based on criteria such as record type, field value,device type, or user profile. You can use Dynamic Actions to show or hide actions that are relevant or irrelevant for each stage of the business process, such as creating a case, sending an email, or generating a quote.
Enable In-App Guidance to providewalk-throughs. In-App Guidance is a feature that allows you to create prompts and guided tours that appear within the Salesforce app to help users learn new features, complete tasks, or adopt best practices. You can use In-App Guidance to provide step-by-step guidance for complex business processes, such as onboarding a customer, submitting a claim, or renewing a policy.
Use flows to remove the need for complex Lightning pages. Flows are a tool that allows you to automate business processes and guide usersor customers through screens that collect and display information. Flows can have multiple steps and branching logic that ask for different information depending on the responses.
You can use flows to simplify and streamline complex business processes, such as applying for a loan, enrolling in a plan, or changing a beneficiary. Verified References: : Salesforce Help Article [12] : Salesforce Help Article [13] : Salesforce Help Article [14]
NEW QUESTION # 22
When adding an Account-Account relationship using ARC (Actionnable Relationship Center), what 2 options does the banker have to represent a group of accounts, where one of the accounts is the parents of a number of other accounts ? (2 answers)
- A. From each subsidiary account, select 'New' in the 'Group Relationship' components and create a new relationship with the parent account
- B. From each subsidiary account, select 'New' in the 'Member Relationships' components and create a new relationship with the parent account
- C. From the parent account, select 'New' in the 'Member Relationships' components and create a new relationship with the subsidiary account
- D. From the parent account, select 'New' in the 'Group Relationship' components and create a new relationship with the subsidiary account
Answer: B,D
NEW QUESTION # 23
Salesforce provides a robust set of automation features to help save time and resources. For example, a system administrator can use Flow Builder to automate most of an organization's repetitive business processes.
Which use case is a suitable fit for Flow Builder?
- A. Coordinate multiple flows and assign them to multiple teams or individuals.
- B. Perform an operation for more records than schedule-triggered flows allow
- C. Collect input from internal users with a form placed on a Lightning page cKlaunched by a button.
- D. Suggest offers and actions to users that are tailored to meet an organization's unique business criteria.
Answer: C
Explanation:
Explanation
A suitable use case for Flow Builder is to collect input from internal users with a form placed on a Lightning page or launched by a button. Flow Builder is a tool that allows users to automate business processes by building flows that guide users through screens, execute logic, manipulate data, and interact with Salesforce and external systems. By using Flow Builder, the system administrator can create a flow that collects input from internal users with a form and performs actions based on the input.
NEW QUESTION # 24
Which of the following statements are correct when creating Financial Goals?
- A. Users can create goals for paying down debt
- B. Users require the Financial Goals permission set to works with Financial Goals
- C. Users can associate a goal with a specific Financial Account.
- D. Users can only create savings oriented goals.
Answer: A
NEW QUESTION # 25
Which three referral metrics are tracked with custom components included in Financial Services Cloud?
- A. Web to Lead Referrals
- B. Expressed interests
- C. My Approved Referrals
- D. My Top Referrers
- E. Referrals Assigned to me
Answer: B,D,E
Explanation:
The following referral metrics are tracked with custom 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 understand the 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 and appreciate 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 Reference: : 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 # 26
A consulting firm is asked to add Events and Milestones to a Lightning record page to give financial advisors deeper insights into their customers' lives.
What should the consultant configure to enable advisors to capture Once-in-a-Lifetime events and, at the same time, prevent users from accidentally creating more than one event of such an event type?
- A. Special event types
- B. Once-in-a-Lifetime event types
- C. Unique event types
- D. Single event types
Answer: C
Explanation:
Explanation
To enable advisors to capture Once-in-a-Lifetime events and prevent users from accidentally creating more than one event of such an event type, the consultant should configure Unique event types. Unique event types are event types that can only be created once for each contact or individual, such as birth, death, or marriage.
By using Unique event types, the consultant can ensure that advisors can capture important life events for their customers and avoid duplication or inconsistency.
NEW QUESTION # 27
A Financial Services Cloud (FSC) administrator wants to create a new FSC permission set that includes the Access Interest Tags for Financial Services Cloud permission.
Which two permission sets should be cloned to create this new permission set and give access to interest tags?
- A. FSC Foundations permission set
- B. FSC Standard permission set
- C. FSC Extension permission set
- D. FSC Basic permission set
Answer: A,C
Explanation:
Explanation
The Access Interest Tags for Financial Services Cloud permission is included in two permission sets that are provided by FSC:
FSC Foundations permission set: This permission set grants access to the core features of FSC, such as financial accounts, account groups, households, goals, referrals, and interest tags7.
FSC Extension permission set: This permission set grants access to additional features of FSC that extend beyond the core functionality, such as action plans, relationship groups, relationship maps, client tasks, client notes, and interest tags8.
To create a new FSC permission set that includes the Access Interest Tags for Financial Services Cloud permission, either of these permission sets can be cloned and modified as needed.
References:
FSC Foundations Permission Set
FSC Extension Permission Set
NEW QUESTION # 28
Where do you enable Enable Multiple Relationship Groups?
- A. Custom Settings
- B. Lighting Page Editor
- C. Object Settings
Answer: A
NEW QUESTION # 29
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. Assign the record type to users.
- B. Create a new record type Referral' on the Lead object.
- C. Create a new referral record type mapper record.
- D. Create a custom Referral object.
- E. Update the lead page layout.
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 # 30
During a Financial Services Cloud implementation at an insurance company, a consultant needs to design a broker data model for the broker web portal. The given requirements are:
1. Brokers are treated individually, even if they are associated with the same company.
2. Brokers should never have access to other brokers' data.
3. Brokers can nominate their assistants to access the broker portal.
4. An assistant can sometimes work for multiple brokers.
Which two considerations should the consultant consider regarding the data model?
- A. 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.
- B. The Broker Assistant should be modeled as a Contact. Then, use Contact to Contact association if they need work for multiple D Brokers.
- C. Brokers should be modeled as Contact and the Broker company should be modeled as Account, even if they're a legal entity '-' individually.
- D. Brokers need to be modeled as Account and Contact individually, as each broker is a legal entity in Salesforce. Then, use a Group 1-1 Account to model their company.
Answer: A,D
Explanation:
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
NEW QUESTION # 31
Omni Script represents processes with fast, personalized, and consistent responses. This type extends the metadata type and inherits its full name field. To use the Omni Script metadata type, what should the administrator enable in the Salesforce org?
- A. Discovery Framework
- B. Einstein Relationship Insights
- C. Lightning Experience for Financial Services Cloud
- D. Custom Domain
Answer: D
NEW QUESTION # 32
A bank needs help with many of its processes taking too long to complete. Many of its challenges are due to issues with handoffs between teams. The challenges also include users transferring control to the wrong person or team or forgetting to transfer it at all.
Which two Financial Services Cloud capabilities should help address these challenges?
- A. Financial Accounts
- B. Action Plans
- C. Omni Scripts
- D. Roll-up Summaries
Answer: B,C
Explanation:
Reference: Action Plans in Financial Services Cloud for Admins | Salesforce Trailhead and [OmniScript Overview | Vlocity Developer Docs] Explanation: ActionPlans are a feature of Financial Services Cloud that allow users to create and execute repeatable tasks based on predefined templates. Action Plans can help streamline and standardize business processes, such as onboarding new clients, conducting annual reviews, or resolving service requests. Action Plans can also assign tasks to different users or teams, set deadlines and priorities, and track progress and status.
Omni Scripts are a feature of Vlocity that allow users to create and run guided interactionsbased on predefined scripts. Omni Scripts can help automate and simplify complex workflows, such as opening new accounts, applying for loans, or updating personal information. Omni Scripts can also integrate with other systems, capture user inputs, perform calculations, and display dynamic content.
NEW QUESTION # 33
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