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

Answer : A, B

Salesforce provides features and tools to help financial institutions improve the efficiency of their mortgage processes and provide better experiences for their customers. Some of the features and tools that a consultant can suggest to Cumulus Bank to implement are:

The standard mortgage flow templates to build a mortgage flow in Financial Services Cloud: These are prebuilt flow templates that guide users through the steps of creating a mortgage application, capturing borrower information, and submitting the application for approval7.The templates can be customized to suit the bank's specific needs and requirements8.

Flow Builder to automate these business processes: Flow Builder is a point-and-click tool that lets users create flows to automate business processes in Salesforce9.Flow Builder can be used to create custom mortgage flows that integrate with other Salesforce features, such as data models, objects, fields, validation rules, and actions10.

Flow Builder for Mortgage

Customize Mortgage Flows

Flow Builder

Create a Mortgage Flow

Answer : A, C, E

Salesforce offers various tools and capabilities to integrate Financial Services Cloud with external systems, such as core banking, insurance, or mortgage platforms. Some of the tools and capabilities that a consultant can recommend are:

Industry Integration Solutions with the MuleSoft Anypoint Platform: These are prebuilt integration solutions that leverage the MuleSoft Anypoint Platform to connect Financial Services Cloud with common industry systems, such as Fiserv, FIS, Jack Henry, and Guidewire1.These solutions enable bi-directional data synchronization, orchestration, and transformation between Salesforce and the external systems2.

OmniStudio Integration Procedures: These are reusable components that define the logic and sequence of steps for integrating data from external sources into Financial Services Cloud3.Integration procedures can be triggered by events, such as a button click or a record update, and can invoke other components, such as DataRaptors or OmniScripts4.

OmniStudio DataRaptors: These are data transformation components that can extract, load, and manipulate data from various sources, such as Salesforce objects, REST or SOAP web services, or CSV files5.DataRaptors can be used to map data between different formats, perform calculations or validations, or create or update records in Financial Services Cloud6.

Industry Integration Solutions

MuleSoft Anypoint Platform

OmniStudio Integration Procedures

Create an Integration Procedure

OmniStudio DataRaptors

Create a DataRaptor

Answer : B, C, D

Compliant Data Sharing (CDS) is a feature of Financial Services Cloud that lets administrators and compliance managers configure advanced data-sharing rules so that they can improve compliance with regulations and company policies. Some of the things to consider when implementing CDS in Financial Services Cloud (FSC) are:

CDS in FSC allows record owners to grant access to their records to other FSC users.Record owners can use the Manage Participants component on record pages to share their records with other users who have relevant roles or permissions6.

CDS can only be applied to FSC objects and Account and Opportunity objects.CDS supports sharing for Account, Opportunity, Financial Account, Financial Holding, Financial Goal, Referral, Relationship Group, Action Plan Template, Action Plan, Action Item Template, Action Item, Interaction Summary, Interaction Summary Participant Role Assignment, Interaction Summary Participant Role Definition7.

To get the benefits of CDS, administrators must set organization-wide sharing settings for supported objects to the Private access model.This ensures that only record owners and users above them in the role hierarchy have access to the records by default8.

Compliant Data Sharing

Work with Compliant Data Sharing

Answer : A, D, E

Discovery Framework is a scalable assessment framework that financial institutions use to gather and evaluate customer information through digital and human channels. Some of the things to consider regarding Discovery Framework are:

Discovery Framework creates highly capable forms with integrations and advanced logic.The forms can be customized with various types of questions, validations, calculations, branching, and integrations with external systems1.

Discovery Framework can create both standard and hierarchical questions. Standard questions are single-level questions that can be grouped into sections.Hierarchical questions are multi-level questions that can have subquestions based on the answer to the parent question2.

FSC Discovery Framework allows archiving questions. Archiving a question removes it from the active question pool and prevents it from being added to new forms.Archived questions can be restored if needed3.

Discovery Framework

Create Questions for Discovery Framework

Archive Questions for Discovery Framework

Answer : A, B

The Access Interest Tags for Financial Services Cloud permission is included in two permission sets that are provided by FSC:

FSC Foundations permission set: This permission set grants access to the core features of FSC, such as financial accounts, account groups, households, goals, referrals, and interest tags7.

FSC Extension permission set: This permission set grants access to additional features of FSC that extend beyond the core functionality, such as action plans, relationship groups, relationship maps, client tasks, client notes, and interest tags8.

To create a new FSC permission set that includes the Access Interest Tags for Financial Services Cloud permission, either of these permission sets can be cloned and modified as needed.

FSC Foundations Permission Set

FSC Extension Permission Set

Answer : A

A primary member is the person account who is the main contact for a household or a group. Only one person account can be the primary member of a household or a group. The primary member is also used to calculate rollups for the household or group, such as total assets, liabilities, net worth, and so on. The advisor should designate either Oliver or Macie as the primary member of the Dogging ton household, but not both.

Answer : B, D, E

Enable Compliant Data Sharing for Interaction Summaries, Use Interaction Summary Participants to provide the right access to individuals or groups, and Disable Role-Hierarchy-Based Sharing for Interaction Summaries.

Compliant Data Sharing is a feature that allows granular control over access to sensitive data in Financial Services Cloud. By enabling Compliant Data Sharing for Interaction Summaries, the bank can restrict access to the detailed notes field on the Interaction Summary object. By using Interaction Summary Participants, the bank can grant access to specific individuals or groups who need to see the notes for certain interactions. By disabling Role-Hierarchy-Based Sharing for Interaction Summaries, the bank can prevent users from inheriting access to Interaction Summaries from their managers or peers in the role hierarchy.