Cumulus Insurance has a franchise business model with a large number of franchisees who operate independently but report to regional managers who are Cumulus employees. The company would like the franchise owners and their employees to have access to the Cumulus Salesforce Financial Services Cloud (FSC) instance. The company plans to use the Role Hierarchy and sharing rules to implement this. What should the architect at Cumulus Insurance be aware of for this solution?
A. Franchise users will need to switch their browsers to a platform that supports Lightning Web Components.
B. Salesforce FSC only allows 1,024 public groups.
C. The administrator can define up to 300 total sharing rules for each object.
D. Franchise users can have multiple roles in the hierarchy.
Explanation:
The architect at Cumulus Insurance should be aware of the limitation that the administrator can define up to 300 total sharing rules for each object when using the Role Hierarchy and sharing rules to implement the franchise business model. Sharing rules are a way of granting additional access to records based on criteria, such as record owner, role, or field values. The Role Hierarchy is a way of organizing users into a hierarchy that reflects the reporting structure of the company. The Role Hierarchy and sharing rules can be used together to control the access and visibility of records for different users in Financial Services Cloud. However, there is a limit of 300 sharing rules per object, which means that the administrator may need to use other methods, such as public groups or manual sharing, to grant access to records beyond this limit.
References:
[Sharing Rules]
[Role Hierarchy]
[Sharing Rule Limits]
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?
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
Explanation:
Actionable Relationship Center (ARC) is a tool that a Salesforce FSC consultant can recommend to a wealth manager who needs to make sense of complex client relationships and discover new business opportunities. ARC is an advanced visualization engine that provides a holistic view of customers and their relationships with actionable insights, all in one place5. ARC helps users understand relationships among people and businesses by presenting them in interactive components, such as graphs, cards, lists, and filters6. ARC also allows users to perform actions on the customer data, such as creating tasks, sending emails, or updating records7.
References:
Actionable Relationship Center (ARC)
Get Started with Actionable Relationship Center
Work with Actionable Relationship Center
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?
A. Document Checklist Item
B. Received Document
C. Identification Document
D. Identity Document
Explanation:
Identification Document is the Financial Services Cloud object that should be recommended for storing client data on drivers’ licenses and passports. Identification Document is a standard object that represents a document that verifies a person’s identity, such as a driver’s license, passport, or national ID card. You can create identification document records for individual clients and link them to their person accounts. You can also store information such as document type, number, issue date, expiration date, and country of issuance. References: [Identification Document Object], [Manage Identification Documents]
What actions can a Wealth Advisor take from the Life Events card7
A. Create Case
B. Create Lead & Referral
C. Open an Account
D. Request Record Approval
E. Create Opportunity
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 prospect or 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 action creates 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.
Lake Tahoe Bank is implementing Financial Services Cloud. The bank's new business processes require that Financial Advisors can add individuals to more than one Group or Household using Multiple Relationship Groups. Where do Admins enable Multiple Relationship Groups?
A. Object Settings
B. Custom Settings
C. Lightning Page Editor
D. Profiles
Explanation:
To enable Multiple Relationship Groups, which is a feature that allows users to add individuals to more than one group or household, the Admin needs to use Custom Settings. Custom Settings are similar to custom objects and enable application developers to create custom sets of data, as well as create and associate custom data for an organization, profile, or specific user. The Admin can use Custom Settings to enable Multiple Relationship Groups by following these steps:
From Setup, enter Custom Settings in the Quick Find box, then select Custom Settings.
Click Manage next to Group Member Record Type Mapper.
Click Edit next to Default Organization Level Value.
In Multiple Relationship Groups Enabled, select True.
Click Save.
A bank recently sold its wealth management division and wants to improve its customers’ digital experience. The bank engaged Salesforce Professional Services to upgrade its existing Salesforce CRM to Financial Services Cloud and deliver its Bank of the Future vision. Which three expected outcomes can serve as return on investment (ROI) justifications to the bank's chief financial officer (CFO) and investment committee?
A. Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers' financial needs and deepen client relationships.
B. Deliver connected and personalized digital experiences to the bank's customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank.
C. Simplify the client onboarding process with proper tools to streamline customer discovery and internal reviews through renewal.
D. Manage policy holder’s interactions with customer service agents intelligently through the underwriting process.
E. Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships.
Explanation:
Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers’ financial needs and deepen client relationships; Deliver connected and personalized digital experiences to the bank’s customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank; Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships.
Reference: [Reference: Financial Services Cloud | Salesforce, , Explanation: Financial Services Cloud is a platform that enables banks to deliver seamless and personalized customer experiences across multiple channels and devices. Financial Services Cloud can help banks achieve the following outcomes:, Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers’ financial needs and deepen client relationships. Financial Services Cloud provides tools such as Lead Conversion, Referral Management, Relationship Groups, and Compliant Data Sharing to facilitate cross-team collaboration and coordination., Deliver connected and personalized digital experiences to the bank’s customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank.
Financial Services Cloud provides a unified data model that integrates customer data from various sources, such as core banking systems, online banking portals, mobile apps, social media, and third-party providers. Financial Services Cloud also provides features such as Customer Profile, Actionable Relationship Center, Interaction Summaries, and Einstein Analytics to provide a comprehensive and holistic view of the customer’s financial situation, needs, preferences, and interactions., Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships. Financial Services Cloud provides features such as Client Onboarding, Action Plans, Goals-Based Planning, Financial Accounts, Financial Deals, Next Best Action, and Einstein Bots to enable advisors to deliver proactive and personalized advice, recommendations, and solutions to their clients., , ]
Lake Tahoe Bank is rolling out Financial Services Cloud and the VP of IT is concerned about the cost of the licenses. The System Admin recommends using restricted licenses for users that need only limited access to Financial Service Cloud features. Which Financial Services Cloud permission set license enables user access to a license with contractual restrictions for Financial Services Cloud and can be used to grant restricted access to users like Bank Tellers?
A. Financial Services Cloud Standard
B. Client Segmentation
C. Financial Service Cloud Basic
D. Financial Service Cloud Extension
Explanation:
To grant restricted access to users like Bank Tellers who need only limited access to Financial Services Cloud features, the Admin can use Financial Service Cloud Basic permission set license. This license enables user access to a license with contractual restrictions for Financial Services Cloud and provides access to core objects such as accounts, contacts, leads, opportunities, cases, activities, reports, dashboards, and custom objects. This license also provides access to some Financial Services Cloud features such as Action Plans, Actionable Relationship Center (ARC), Branch Management, Complaint Management, Data Consumption Framework (DCF), Discovery Framework (DF), Document Generation (DG), Groups (Householding), Intelligent Document Automation (IDA), Intelligent Need-Based Referrals and Scoring (INRS), Referral Management (RM), Relationship Builder (RB), Relationship Groups (RG), Relationship Map (RM), Timeline (TL).
An insurance company wants to create a car insurance quote process for its website. The process should include the following functionality:
• The user has to enter contact and address information.
• The user has to enter the driver's age and the car model and year.
• The process should calculate an insurance quote based on the data the customer provided and save the offer to the client's record.
Which three OmniStudio tools should the consultant use to design a solution that meets these requirements?
A. OmniScripts
B. Integration Procedures
C. FlexCards
D. APEX Code
E. Business Rules Engine
Explanation:
The following OmniStudio tools should be used to design a solution that meets the requirements for creating a car insurance quote process for the website:
OmniScripts, which are tools that allow users to create guided, interactive, and intuitive scripts that capture data and execute actions. By using OmniScripts, the consultant can create a script that guides the user through the car insurance quote process and captures the contact and address information, the driver’s age, and the car model and year.
Integration Procedures, which are tools that allow users to orchestrate data and actions across multiple systems using RESTful APIs. By using Integration Procedures, the consultant can create a procedure that calls the core system service to calculate an insurance quote based on the data provided by the user and returns the quote to the OmniScript.
Business Rules Engine, which is a tool that allows users to define business logic and validation rules using natural language expressions. By using Business Rules Engine, the consultant can create rules that validate the data entered by the user and enforce any business policies or conditions for the car insurance quote process.
A major Japanese bank is expanding geographically and opening additional branches in Asia. As such, they hired a regional consulting firm to implement Financial Services Cloud (FSC) locally. What are the two expectations from implementing multi language features in FSC?
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.
Explanation:
The following expectations are from implementing multi language features in FSC:
Bankers in Japan have been accessing FSC in Japanese, but the new bankers in China will be accessing FSC in Chinese. This expectation means that FSC supports multiple languages and allows users to choose their preferred language for their user interface and data display.
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. This expectation means that FSC supports multiple languages for reports and dashboards and allows users to view them in their preferred language.
A new custom object has been created, and the records of this object will be created through integration with another system What should a consultant do to ensure the data is loading into the correct fields in Financial Services Cloud?
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
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.
Which three of these statements are true for Rollup By Lookup (RBL) in Financial Services Cloud?
A. An RBL (Rollup By Lookup) rule displays summary calculations of financial account information, such as account balances.
B. Person Accounts need to be enabled in order to use the Rollup by Lookup functionality.
C. The Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the diem and group levels
D. Salesforce does not recommend or provide support for creation or customization of Financial Services Cloud RBL rules
E. RBL rules do not require a lot of processing power.
Explanation:
The following statements are true for Rollup By Lookup (RBL) in Financial Services Cloud:
An RBL (Rollup By Lookup) rule displays summary calculations of financial account information, such as account balances. You can use RBL rules to aggregate financial account data across different levels of client relationships.
The Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the diem and group levels. You can use RBL configuration to define which fields are rolled up and how they are calculated for each diem and group type.
Salesforce does not recommend or provide support for creation or customization of Financial Services Cloud RBL rules. RBL rules are complex and require extensive testing and validation. If you need to create or customize RBL rules, you should contact a certified Salesforce partner or consultant. Verified References: : Salesforce Financial Services Cloud Implementation Guide, page 75. : Salesforce Financial Services Cloud Implementation Guide, page 76. : Salesforce Financial Services Cloud Implementation Guide, page 77.
Cumulus Bank is migrating its CRM software from a legacy application to Salesforce Financial Services Cloud (FSC). The bank hired Salesforce Professional Services to configure/deploy the new Salesforce FSC org and migrate data. Which order should a consultant follow when performing the data migrations?
A. Individuals, then Financial Account Roles, then Financial Accounts, then Financial Account Transactions
B. Individuals, then Financial Accounts, then Financial Account Roles, then Financial Account Transactions
C. Financial Accounts, then Financial Account Roles, then Individuals, then Financial Account Transactions
D. Financial Accounts, then Financial Account Transactions, thenVinancial Account Roles, then Individuals
Explanation:
The order that the consultant should follow when performing the data migrations is Individuals, then Financial Accounts, then Financial Account Roles, then Financial Account Transactions. This order ensures that the data dependencies and relationships are maintained and that the data integrity and quality are preserved. By migrating Individuals first, the consultant can create the records that represent the customers of the bank. By migrating Financial Accounts next, the consultant can create the records that represent the financial products or services that the customers own or use. By migrating Financial Account Roles next, the consultant can create the records that link the individuals to the financial accounts and define their roles or relationships with those accounts. By migrating Financial Account Transactions last, the consultant can create the records that represent the transactions or activities that occur on the financial accounts.
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