Financial-Services-Cloud Practice Questions

Hank can see Action Plan Tasks in two places:

Onthe related list of the Account page layout, where he can view all the tasks associated with an account and their status, due date, owner, and priority4.

On the standard Salesforce task list, where he can view all thetasks assigned to him across different accounts and filter them by various criteria.

The following considerations should be reviewed before implementing Flow for customer onboarding:

Use FieldLevel Security on Milestones, which is a setting that controls whether users can view and edit fields on records. The Admin should use Field Level Security to restrict access to the Milestones field on the Flow Template object, which is used to track the progress of customer onboarding flows2.

Flow for Financial Service Cloud is not available for the Individual Object Model, which is an alternative data model that uses the Individual object instead of Person Accounts to store information about people. Flow for Financial Service Cloud only supports Person Accounts as the primary object for customer onboarding flows2. Verified References: 2

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 prospector 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 actioncreates 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.

 The following steps are required to disable Person Accounts and use the Individual object model in Financial Services Cloud:

Log a case with Salesforce to perform the conversion from Person Accounts to the individual model. You need to contact Salesforce Support to request the conversion from Person Accounts to the individual model. This is an irreversible process that affects your data model and user interface. You should carefully evaluate your business needs and test the functionality in a sandbox or developer org before requesting the conversion in production.

Remove Person Account record types from the Individual Record Type Mapper. You need to remove any Person Account record types that are mappedto Individual record types in the Individual Record Type Mapper. This is a custom setting that defines how records are created when using certain features, such as Einstein Data Capture or Salesforce Inbox. You can access this setting by going to Setup >Financial Services Settings > Individual Record Type Mapper.

Assign the Individual record type to the user profiles. You need to assign the Individual record type to the user profiles that need to create or access Individual records. The Individual recordtype is a standard record type on the Account object that represents an individual person who is not directly related to your business, such as a prospect, influencer, or household member. You can assign record types by going to Setup > Profiles > Object Settings > Accounts > Record Types. Verified References: : Salesforce Help Article 5 : Salesforce Help Article 6 : Salesforce Help Article 7

The functionality that Rollup By Lookup (RBL) can provide for rolling up customer data at the client and group levels are as follows:

An RBL rule displays summary calculations of financial account information, such as account balances, networth, total assets, total liabilities, and so on1.

When you edit a financial account record or primary group membership, the Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the client and group levels1.

Rollup By Lookup (RBL) displays associated records for Financial Accounts, Financial Goals, and Opportunities on the client and group pages1. Verified References: 1