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AP-208 Exam Questions - AP-208 Guide Torrent & Financial Services Cloud
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Salesforce Financial Services Cloud Accredited Professional Sample Questions (Q27-Q32):NEW QUESTION # 27
Lake Tahoe Bank has branch offices in many countries around the world and they are planning to roll out Financial Services Cloud. Which of the 2 considerations does the Salesforce Admin have to keep in mind when it comes to dealing with multiple currencies?
- A. For each user, the user currency must correspond to the default currency for the user's locale
- B. When multicurrency is enabled in FSC. advanced currencymanagement is also available
- C. The Salesforce Admin can enable or disable multiple currencies if needed
- D. When filtering by currency values in reports or list views, users must specify a currency ISO code, such as USO or GBP. before the value.
Answer: B,D
Explanation:
Multicurrency is a feature in Salesforce that allows you to work with multiple currencies in your org. If you enable multicurrency in FSC, you need to consider the following:
When filtering by currency values in reports or list views, users must specify a currency ISO code, such as USD or GBP, before the value. For example, USD500 or GBP300.
When multicurrency is enabled in FSC, advanced currency management is also available. This feature allows you to track historical exchange rates and apply them to opportunities and forecasts.
NEW QUESTION # 28
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. Action Plans
- B. Financial Accounts
- C. Roll-up Summaries
- D. Omni Scripts
Answer: A,D
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 # 29
Lake Tahoe Bank has duplicate client records in their current CRM system because they come from a different systems of record. Any changes made in Salesforce should be updated in the source system. What can a Salesforce Administrator do to help bankers get a consolidated view of the individual in the Financial Services Cloud?
- A. Create a custom Person Account hierarchy to link duplicate client records.
- B. Leverage Financial Services Cloud Relationship Groups to link duplicate client records and create a consolidated view.
- C. Link individuals using related contacts to link duplicate client records
- D. Create custom components to provide a single view of the client.
- E. Implement deduplication rules in Salesforce and let the integration handle the updates to the source system.
Answer: B
Explanation:
A Relationship Group is a construct in Financial Services Cloud that allows you to model complex and dynamic relationships between clients and accounts. You can use Relationship Groups to link duplicate client records and create a consolidated view of their financial data, activities, and interactions. You can also use Relationship Groups to sync data between Salesforce and the source system using external IDs and integration tools. Verified References: : Salesforce Financial Services Cloud Implementation Guide, page 67.
NEW QUESTION # 30
A consulting firm is asked to add Events and Milestones to a Lightning record page to give financialadvisors 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. Once-in-a-Lifetime event types
- B. Special event types
- C. Single event types
- D. Unique event types
Answer: D
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 cancapture important life events for their customers and avoid duplication or inconsistency.
NEW QUESTION # 31
If a client is associated with more than one Household or Group, where will this clients records get rolled up to?
- A. to all the parent households and groups
- B. to the Household where the client is the primary member
- C. to the household with the client's primary address
- D. to the household selected by the advisor for record rollups.
Answer: D
Explanation:
If a client is associated with more than one Household or Group, their records will get rolled up to the household selected by the advisor for record rollups. A Household or Group is a construct in Financial Services Cloud thatallows you to group related accounts together and view their aggregated financial data and activities. A client can belong to multiple Households or Groups, but only one of them can be selected as their primary Group for record rollups. The primary Groupdetermines which Household or Group will display the client's records in its summary components or related lists. The advisor can select or change the primary Group for a client using the Primary Group field on the client's record page. Verified References: : Salesforce Help Article 6
NEW QUESTION # 32
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