Salesforce Financial Services Cloud Accredited Professional (AP-208) Exam Practice Test Instant Access

Question 1

[FSC Features and Functionality]

Permission setlicenses incrementally entitle users to access features that are not included in their user licenses. Which three Permission Set Licenses give users access to Financial Services Cloud features?

AFinancial Services Cloud Standard

BAction Plans

CLightning Scheduler Resource

DFSC Insurance

EMortgage

Answer : A, B, D

Question 2

[FSC Data Model and Configuration]

A financial services company wants to use the Financial Services Cloud Person Account data model. The company needs two Person Account record types, one to represent Individual customer and one to represent Individual independent advisors that send referrals.

What should the administrator do to set up the new record types?

ACreate custom fields on the Person Account object.

BConfigure Individual Record Type Mapper' custom metadata.

CCreate a record type on the Contact object.

DEnable 'Use Person Account' custom setting.

Answer : B

Question 3

[Financial Accounts, Rollups, and Referrals]

Which three referral metrics aretracked with custom components included in Financial Services Cloud?

AWeb to Lead Referrals

BExpressed interests

CMy Top Referrers

DMy Approved Referrals

EReferrals Assigned to me

Answer : B, C, E

Question 4

[FSC Features and Functionality]

Jen, the Financial Advisor at Lake Tahoe Wealth Management Company wants to modify apublished Action Plan to support an additional task she needs in order to completean annual review for a client. How should Jen do this?

AUse the 'task creator' tool to create a new task and associate with the existing Action Plan

BContact her Salesforce Administrator and get her to make the change to the Action Plan for her.

CUsethe Action Plan item feature to add an additional task to a published Action Plan.

DCreate an independent Task not related to original Action Plan

Answer : C

Question 5

[FSC Features and Functionality]

A financial services company is migrating a legacy customer relationship management system to Financial Services Cloud (FSC). The company is requesting that its consulting partner introduce specific customer interaction features mapped to its business processes.

What should the consultant consider when introducing the FSC features?

AIf there is a business process for tracking the customer life events and milestones, and timely reminding of opportunities, the Action Plan component is recommended to use.

BIf there is a business process for limiting role-based data visibility, the Interaction Summaries component is recommended to use.

CIf there is a business process for taking detailed notesfor client meetings and adding action items, the Action Plan component is recommended to use.

DIf there is a business process for showing common interests and needs across the company's clients, the Interaction Summaries component is recommended to use.

Answer : C

Question 6

[FSC Features and Functionality]

During a project's design phase, a consultant must provide a Financial Services Cloud solution that can support CompliantData Sharing (CDS). What are three things the consultant should consider regarding CDS?

AParticipant Roles provide another way to grant data access without overwriting sharing behavior from existing sharing features.

BA financial services company wants to track different categories of financial accounts in its org. Relationship managers must be able to see all of these financial accounts in one place on the customer's Account record page grouped by categories. Which three steps should an administratortake to configure the Financial Account object and the Account Lightning record page to meet the design?

CCompliance managers and Salesforce administrators can enable CDS for Account and Opportunity objects.

DRole Hierarchy---based sharing is disabled bydefault in CDS.

EIn a standard Salesforce org, Role Hierarchy for Account and Opportunity objects is enabled by default and can't be turned off.

Answer : A, C, D

Question 7

[Implementation and Best Practices]

The system administrator team at a retail consumer bank justreceived data migration instructions and guidance on Data Loader from their Salesforce architect to upgrade the existing Service Cloud org to a Financial Services Cloud (FSC) org.

In what order should the Salesforce objects be uploaded during an FSC datamigration?

A1. Accounts and contacts2. Financial accounts3. Account groups and households

B1. Financial accounts2. Accounts and contacts3, Account groups

C1. Accounts and contacts2. Households3. Financial accounts

D1. Households2.Financial accounts3. Person accounts

Answer : A