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Salesforce Financial-Services-Cloud Salesforce Financial Services Cloud (FSC) Accredited Professional (AP) Exam (WI25) Exam Practice Test

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Total 168 questions

Salesforce Financial Services Cloud (FSC) Accredited Professional (AP) Exam (WI25) Questions and Answers

Question 1

Lake Tahoe Bank wants to onboard a client digitally and without asking the client for information that the bank already has on file. The process has multiple steps and can have branching (conditional) logic that asks for different informationdepending on the responses. Which Salesforce feature should be used for this digital onboarding process?

Options:

A.

Aclion Plans

B.

Financial Goals

C.

Actionable Relationship Center

D.

Flows

Question 2

The Salesforce Admin of Lake Tahoe Wealth Management Company needs to update an

existing, published Action Plan Template to accommodate a change in the firm’s annual

clientreview process. What steps should the Admin take to make that change?

Options:

A.

Edit the published Action Plan Template directly.

B.

Set the Action Plan Template to “Inactive” and then make changes to the template, as necessary.

C.

Clone the existing Action PlanTemplate and make any necessary changes on the new Action Plan Template.

Question 3

Which step is required to give a group of users access to a Financial Deal?

Options:

A.

Change organization-wide defaults (OWD) sharing on the Financial Deal object to Public Read/Write.

B.

Create a Financial Deal permission set and assign it to the users that should have access to Financial Deals.

C.

Share a financial deal record with a group by adding them as participants to the record from the Financial Deal Participants related list,

D.

Update Industries Settings to give users access to the Financial Dew object.

Question 4

The Salesforce Administrator at Lake Tahoe Bank is asked at make modifications to the

Salesforce org to allow for more than one people being joint owners on a Financial Account. What will be the recommended approach to model this requirement?

Options:

A.

Map the primary owner and one joint owner to the Financial Account, because FSC, supports only two joint account owners.

B.

Map additional owners using the Financial Account Role.

C.

Map additional owners using theActionable Relationship Center.

D.

Create lookup fields on the Financial Account object to support additional owners

Question 5

Cumulus Bankhas 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?

Options:

A.

The share table records are deleted.

B.

Sharetable records need to be manually deleted.

C.

All opportunity participant records are delete

D.

The opportunity participant records are not deleted.

Question 6

Cumulus Bank has branches in multiple countries that are required to report in local currency, while the corporate headquarters office wishes to see reports in a single currency (the corporate currency).

Which solution should a consultant recommend to meet these requirements?

Options:

A.

Set the default currency for head office and have the regions download their reports to Excel and convert them manually.

B.

Use a third party from AppExchange add-on to implement currency conversions.

C.

Enable multiple currencies and advanced currency management, and set a corporate currency for the corporate headquarters office.

D.

Allowusers to set their preferred currency in their profile and design reports that convert currencies for the user running the report.

Question 7

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?

Options:

A.

Lead Routing

B.

Web to-Lead

C.

Lead Assignment Rules

D.

Lead Approval

E.

Einstein Lead Scoring

Question 8

A large insurance company hired a consulting firm to improve customer experiences for customers that want to complete standard processes online, such as getting an insurance quote or submitting a claim.

Which three standard Insurance Platform components can digitally enable these core insurance operations?

Options:

A.

Policy Administration

B.

Claims Management

C.

Quote, Rate, and Apply

D.

Quote Creathqn Toolbox

E.

MobileClaimSubmission

Question 9

Acorporate investment banking associate at Cumulus Capital works with a trusted analyst to create pitch books, analyze market data, and generate reports. The banking associate is looking to capture sensitive deal information in Salesforce. They wish to share the deal information with the trustedanalyst only, without giving access to Salesforce users up the management chain in the Role Hierarchy.

What should a consultant do in Salesforce to build the required sharing model for sensitive deal data?

Options:

A.

Use the Opportunity object to capture the deal data and use manual sharing to grant the analyst access.

B.

Use the Financial Deal object to captu^* y^ deal data anc* use Compliant Data Sharing to grant the analyst access.

C.

Use the Financial Deal object to capture the deal data and use restriction rules to block user access above the banking associate in the Role Hierarchy.

D.

Use the Opportunity object to capture the deal data and use Compliant Data Sharing to grant the analyst access.

Question 10

A financial services company wants to use the Financial Services Cloud Person Account data model. The company needs two Person Account record types, one to represent Individual customer and one to represent Individual independent advisors that send referrals.

What should the administrator do to set up the new record types?

Options:

A.

Create custom fields on the Person Account object.

B.

Configure Individual Record Type Mapper" custom metadata.

C.

Create a record type on the Contact object.

D.

Enable "Use Person Account" custom setting.

Question 11

A Financial Services Cloud (FSC) administrator is setting up a permission set for Actionable Relationship Center. Which license should the administrator select on the Permission Set setup page?

Options:

A.

FSC Standard

B.

FSC Basic

C.

OmniStudio

D.

FSC Extension

Question 12

Which setting in Action Plans helps to avoid non working hours, company holidays, and other non working days for deadline calculation?

Options:

A.

Sync with Company Calendar

B.

Skip Non-Work Days for Deadlines

C.

Skip Non-Work Days For Tasks

D.

Skip Non-Work Days for Action Plans

Question 13

Which three of the following statements are correct about the Actionable Relationship Center Manager (ARC)?

Options:

A.

To enable users to see the ARC, you will need to add the component for ARC to the page layout.

B.

ARC displays up to 5 related lists that have a configured compact layout.

C.

ARC is certified to work with Person Accounts and Individual Accounts.

D.

The Salesforce Admin has to create a permission set for granting access to the ARC – FSC Lightning component.

E.

The Association Type picklist controls the account-account relationship that display in the ARC.

Question 14

A financial services company needs a custom field for reporting when relating two-person accounts to each other. Which object should the Financial Services Cloud consultant configure the custom field on?

Options:

A.

Account Contact Relationship

B.

Contact-Contact Relationship

C.

Person Account

D.

Account Account Relationship

Question 15

Financial Services Cloud (FSC) contains a number of custom objects to model a client's financial information, and each object can be configured to appear as tabs in your org. For example, if a consultant wanted to create a financial goal for a customer, they could use the Financial Goal object in FSC.

What are three objects in FSC?

Options:

A.

Billing

B.

Financial Holding

C.

Financial Goal

D.

Inheritance

E.

Revenue

Question 16

An asset management firm that is moving to Salesforce from its old CRM wants to be able to bring over its client data on drivers’ licenses and passports. 55m 058

Which Financial Services Cloud object should a consultant recommend?

Options:

A.

Document Checklist Item

B.

Received Document

C.

Identification Document

D.

Identity Document

Question 17

A retail bank is using Financial Services Cloudto support its operations. The bank has received complaints that its clients' documentation is often submitted late and when clients call, customer service agents are struggling with multiple systems to determine where the documentation is.

Which solutionshould a consultant suggest the client explore?

Options:

A.

A Marketing Cloud integration to manage client communications

B.

An APEX solution to leverage the SendMail capabilities of Salesforce

C.

Process Builder to create automatl&Socument requests for missing items

D.

The Send Documents flow for Retail Banking

Question 18

What are two language-related limitations of Financial Services Cloud?

Options:

A.

Predefined reciprocal roles are available only in English.

B.

Custom component labels are supported only in English.

C.

Referral record type labels are supported only in English.

D.

Flows are available only in English.

Question 19

The Salesforce Administrator for Lake Tahoe Bank is receiving a report that a members FinancialAccount Balances are not adding up to the Financial Summary field in the related Household. Which two steps should the admin take to troubleshoot the issue?

Options:

A.

Ensure the Primary Group flag in the Account record is checked.

B.

EnsureRollUpByLookup Configuration is Active

C.

Ensure a RollUpByLookup batch job is scheduled to run every 15 mins.

D.

Ensure that the member is the Primary Member in that Household

E.

Ensure the reported Household is the Primary Group for the member

Question 20

Lake Tahoe Bank is migrating customer records from the Individual Model to Person Accounts. Which threesteps should a Data Architect take to ensure a successful migration?

Options:

A.

Ensure Person Accounts is enabled on the org

B.

Configure your Person Account record types m the Indrvidual Record Type Mapper.

C.

Enable 'Individual to Person Account Migration' in Custom Settings.

D.

Use a CSV field to map PersonRecordTypeld to the Person Account RecoroTypeld and use Data Loader to update Client Records

E.

Log a case with Salesforce to perform the conversion from the indrvkJual Model to Person Accounts.

Question 21

A consultant is looking to create a guided screen to be used by customer service agents answering the phone to authenticate the caller and positively identify them. The agent will ask the caller to provide their full name and the last four digits of their social security number, which is not stored in Salesforce. The agent will enter the provided information into a form, and upon clicking submit, a web service call is made to an external authentication service to authenticate the caller.

What should the consultant do to fulfill the needed requirements?

Options:

A.

Create a screen flow.

B.

Create a Lightning web component.

C.

Create a Canvas application for the Authentication module.

D.

Create an OmniScript flow.

Question 22

To access Financial Services Cloud Lightning Components "My Domain" must be enabled. How does the System Admin accomplish this?

Options:

A.

Register a subdomam using the My Domain wizard and then deploy it

B.

Open a case withSalesforce Support

C.

Enable Communities

D.

Go to Custom Settings and edit the Industries Settings

Question 23

Lake Tahoe Bank wants their customer reps to be able to see client records such as Person Accounts, but want to restrict access to Financial Accounts to protect the privacy of theirclients. Which two steps can an admin take to ensure that all users see Person Accounts, but only specific users can view Financial Accounts?

Options:

A.

Grant users access to the Financial Account object with permission set

B.

Change Organization-wide Defaults (OWD) sharing on the 'Financial Accounts* object to Private'.

C.

Change Organization-wide Defaults (OWD) sharing on the 'Person Accounts" object to 'Controlled by Parent.

D.

Change Organization-wide Defaults (OWD) shanng on the "Financial Accounts' object toPublic Read/Write'.

Question 24

How should developers configure customized nodes for display in Actionable Relationship Center (ARC)?

Options:

A.

Select Use FlexCard from the node Display tab to show the node in a FlexCar

B.

Reference the Lightning web component in the Display properties of the custom ARC relationship graph.

C.

Select OmniScript from the node Actions tab U^jhow the node in an OmniScript.

D.

Reference the FlexCard in the Display properties of the custom ARC relationship graph.

Question 25

Which three record type options should an advisor configure for a Lead object configuration?

Options:

A.

Referral

B.

Opportunity

C.

General

D.

Adjustments

E.

Retirement Planning

Question 26

Which three referral metrics aretracked with custom components included in Financial Services Cloud?

Options:

A.

Web to Lead Referrals

B.

Expressed interests

C.

My Top Referrers

D.

My Approved Referrals

E.

Referrals Assigned to me

Question 27

Which two statements are true about Group Membership in Financial Services Cloud?

Options:

A.

Group Membership defines the role of the member within the Group.

B.

With Group Membership settings you can define if a Group is the member's primaryGroup.

C.

With Group Membership settings you can define who is the primary and who is the secondary member within the Group.

D.

Group Membership is modeled using the Account-Group Relationship object.

Question 28

Which 3 out of the box capabilities come with Financial Services Cloud Lead & Referral Management?

Options:

A.

Referral Conversion

B.

Assigning a Referral

C.

Round Robin Referral Routing

D.

Accepting a Referral

E.

Referral Automated Approvals

Question 29

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?

Options:

A.

Update all opportunities linked to individual account records to be owned by the individual account record's owner.

B.

Ensure each account.phone field in the individual account record is blank.

C.

Ensure all individual account records to be converted are only linked to exactly one contact record.

D.

Test out the conversion in a sandbox, including all integrations and customizations.

E.

Ensure each individual account to be converted is not a parent account of any other account records.

Question 30

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?

Options:

A.

Workflow Rules/Process Builder

B.

Action Plans

C.

Apex Tnggers on the task object

D.

Flows

Question 31

Our Personal Banker Hank Burton is learning to use Action Plans to ensure compliance in the clientonboarding process. Where can Hank see Action Plan Tasks? (2 options)

Options:

A.

Hank will be able to see the Action Plan tasks on therelated list of the Account page layout.

B.

Hank will be able to see the Action Plan Tasks assigned to him on the standard Salesforce task list.

C.

Once the Action Plan is assigned, Hank can see the related Tasks on the Timeline.

D.

Hank will be able to see the Action Plan Tasks assigned to him on his calendar.

Question 32

A client has called their Financial Advisor to open an Education Savings Account for their first child. What 2 steps should the Financial Advisor take in the Financial Services Cloud App to capture that information?

Options:

A.

Create a Life Event for the birth of the child and a Referral for the Education Savings Account

B.

Create a case and include the target Savings amount for the Education Savings Account and relate the case to the child's Person Account.

C.

Create a Referral for the Banker for an Education Savings Account

D.

Create a Life Event for the birth of the child and a Financial Goal for the Education Savings Account

E.

Create two Life Events, one for the birth of the child and one for the Education Savings Account.

Question 33

An insurance companyaims to improve a call center's productivity. A detailed analysis discovered that agents spend a lot of time capturing data while adding and updating beneficiary details. Capturing premium payment details (payment date and frequency) is another time-consuming task. Which action should a Financial Services Cloud consultant take to resolve the issue?

Options:

A.

Utilize Insurance Flow Templates.

B.

Create an Action Plan Template for capturing beneficiary data and payment information.

C.

Provide a better user interfaceby building Lightning web components for beneficiary data and payment information.

D.

Install an Insurance Data AppExchange package.

Question 34

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?

Options:

A.

Create a junction object between the external system and the new customer object where the data will reside

B.

Ensure custom metadata is configured and each custom metadata record details where the data will be sent

C.

Use a CSV file with the data created and use Data Loader to map to the correct field

D.

Utilize a field mapping file with the external system (allocation and the corresponding field in Salesforce

Question 35

A major Japanese bank is expanding geographically and opening additional branches in Asia. As such, they hired a regional consulting firmto implement Financial Services Cloud (FSC) locally.

What are the two expectations from implementing multi language features in FSC?

Options:

A.

Referrals in Singapore and Hong Kong will be shared in English, but in Macau, referrals will be shared in Portuguese.

B.

Bankers in Japan have been accessing FSC in Japanese, but the new bankers in China will be accessing FSC in Chinese.

C.

In Tokyo branches, the names of the Account, Prospect & Contact are in Japanese, but the package Advisor, Personal Banker, D Relationship Manager, and Client Associate profiles are in English.

D.

In Seoul, South Korea, the branch managers will be reviewing their FSC dashboards every morning in Korean, while their colleagues in " Shanghai, China, will be doing so in Chinese.

Question 36

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?

Options:

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 ismodeled 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.

Question 37

Lake Tahoe Bank branch manager is asking the Salesforce Administrator for improvements in Salesforce to speed up Loan Approval Processing. The Salesforce Admin isconsidering using Action Plans. Which 3 process improvements can be delivered using Action Plans?

Options:

A.

Action Plans create repeatable tasks and automate the task sequences when executed

B.

When you create an action plan from a template for a specific targetrecord, items that have no assigned user are assigned to the owner of that " target record.

C.

Action Plans can automatically schedule the next appointment with the Advisor.

D.

Action Plans enhance collaboration and productivity by automatically assigning task owners and deadlines for specific client processes.

E.

Action Plans can speed up the collection of a list of documents needed for the loan application

Question 38

During a project's design phase, a consultant must provide a Financial Services Cloud solution that can support CompliantData Sharing (CDS). What are three things the consultant should consider regarding CDS?

Options:

A.

Participant Roles provide another way to grant data access without overwriting sharing behavior from existing sharing features.

B.

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 administratortake to configure the Financial Account object and the Account Lightning record page to meet the design?

C.

Compliance managers and Salesforce administrators can enable CDS for Account and Opportunity objects.

D.

Role Hierarchy—based sharing is disabled bydefault in CDS.

E.

In a standard Salesforce org, Role Hierarchy for Account and Opportunity objects is enabled by default and can't be turned off.

Question 39

For which three objects are Rollup By Lookup (RBL) summaries are available?

Options:

A.

Life Events

B.

Financial Accounts

C.

Assets and Liabilities

D.

Contacts

E.

Claims

Question 40

How should developers configure customized nodes for display in ARC?

Options:

A.

Select Use LWC from the node Display tab to show the node in a Lightning Web Component

B.

Reference the Lightning WebComponent in the Display properties of the custom ARC relationship graph

C.

Select Use FlexCard from the node Display tab to show the node in a FlexCard

D.

Reference the FlexCard in the Display properties of the custom ARC relationship graph

Question 41

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?

Options:

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.

Question 42

Cumulus Cloud Bank, a major financial services provider, has engaged Salesforce Professional Services to transform its operations with Financial Services Cloud (FSC). The Addams family are wealth management clients with the following relationships:

• The wife and her husband are part of the Addams Household.

The wife is the primary member, and together the couple run the Addams Charitable Trust.

• The wife is also part of the Symonds Household with her father as the primary member. Which tool should the Salesforce FSC consultant recommend so a wealth manager could make sense of this complex data to provide impeccable service to the Addams family and discover new business opportunities?

Options:

A.

Data Filtering and Sorting in Tableau Desktop

B.

Financial Services Cloud Einstein

C.

Data Visualization with Marketing Cloud Intelligence

D.

Actionable Relationship Center (ARC), an advanced visualization engine

Question 43

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. Brokersshould 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?

Options:

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.

Brokers should be modeled as Contact and the Broker company should be modeled as Account,even if they're a legal entity '-' individually.

C.

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.

D.

The Broker Assistant should bemodeled as a Contact. Then, use Contact to Contact association if they need work for multiple D Brokers.

Question 44

Salesforce provides a robust set of automation features to help save time and resources. For example, a system administrator can use Flow Builderto automate most of an organization's repetitive business processes.

Which use case is a suitable fit for Flow Builder?

Options:

A.

Coordinate multiple flows and assign them to multiple teams or individuals.

B.

Suggest offers and actions to users that are tailoredto meet an organization's unique business criteria.

C.

Collect input from internal users with a form placed on a Lightning page cKlaunched by abutton.

D.

Perform an operation for more records than schedule-triggered flows allow

Question 45

In Financial Services Cloud, what is the criteria for commas and symbols to be displayed correctly on the Financial Account Summary component?

Options:

A.

User currency must match org default currency.

B.

Account currency must match org default currency.

C.

User's locale must match user's currency.

D.

User's locale and language must match user's currency.

Question 46

While working for an insurance client implementing Financial Services Cloud, an API integration between Salesforce and a risk control system has been configured. The consultant is asked to ensure the correct profiles and permissions were set up for this connection. Which two steps should the consultant take?

Options:

A.

Update the System Administrator profile to include the API Only User.

B.

Create a dedicated Integration User.

C.

Assign the integration user to the System Administrator profile.

D.

Create a new customprofile and ensure API Only is selected.

Question 47

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?

Options:

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 towhat is happening on each slide

Question 48

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?

Options:

A.

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.

B.

Client-level records are aggregated by setting up client-level rollups to all primary group members.

C.

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

D.

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.

Question 49

What is a key step in identifying different business processes and outlining encompassing system flows based on the existing environment when setting up Salesforce Financial Services Cloud (FSC)?

Options:

A.

Creating a new Salesforce instance from scratch for the customer

B.

Importing the customer's existing data into Salesforce FSC without any modifications

C.

Implementing a generic, one-size-fits-all solution for all customers

D.

Conducting a gap analysis between the customer's current processes and SalesforceFSC capabilities

Question 50

When importing records from a system outside of Salesforce, which ID should be used to prevent the data import fromcreating duplicates?

Options:

A.

User ID

B.

Data Load ID

C.

External ID

D.

Org ID

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Total 168 questions