Financial-Services-Cloud Practice Test

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

C.   Identification 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]

B.   Create Lead & Referral

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.

B.   Custom Settings

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.   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.

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., , ]