Salesforce Financial-Services-Cloud - Salesforce Financial Services Cloud (FSC) Accredited Professional (AP) Exam (SP25)

To integrate with an external system, Salesforce needs to have objects and fields that can store the data that will be sent from the external system via an API. These objects and fields should match the data structure and format of the external system as much as possible. Additionally, Salesforce needs to have an integration user and anintegration profile that can enable the connection between Salesforce and the external system. The integration user is a dedicateduser account that has access to the API and can perform data operations on behalf of other users. The integration profile is a custom profile that defines the permissions and settings for the integration user.

The administrator did not assign the Mortgagepermission set to the user. The Mortgage permission set is required to access the Residential Loan Application object and its related objects, such as Loan Application Form, Loan Assessment, and Loan Product. Without this permission set, the user cannot create, edit, or view residential loan application records. The administrator can assign the Mortgage permission set to the user from the user detail page in Setup.References: [Mortgage Permission Set], [Residential Loan Application Object]

 The following considerations should be included when configuring the report with branch management reportable objects:

Bankers with Branches with Opportunities, Accounts, Leads, and Contacts report types are available for creating reports with Branch Unit Related Records. These are standard report types that allow users to create reports that show data from Banker,Branch Unit, Opportunity, Account, Lead, Contact, and Branch Unit Related Record objects.

The reportable objects include Banker, Branch Unit, Branch Unit Related Records, and Branch Unit Customer. These are custom objects that are part of the branch management feature in Financial Services Cloud. Banker is an object that represents a banker or an employee who works at a branch unit. Branch Unit is an object that represents a physical location where bankers provide services to customers. Branch Unit RelatedRecord is an object that represents a record that is related to a branch unit, such as an opportunity, an account, alead, or a contact. Branch Unit Customer is an object that represents a customer who has a relationship with a branch unit.

When Branch Unit is the primary object, the administrator can select Branch Unit Customers or Branch Unit Related Records as related objects. This means that the administrator can create reports that show data from Branch Unit and its related objects by using lookup fields or junction objects

To set up a permission set for Actionable Relationship Center (ARC), the administrator should selectFSC Standard as the license on the Permission Set setup page. FSC Standard is a permission set license that enables user access to a license with contractual restrictions for Financial Services Cloud and provides access to core objects and features, including ARC1. By selecting FSC Standard as the license, the administrator can grant users access to ARC and its related objects and fields

The Financial Services Cloud capability that provides the ability to accommodate the request of sharing specific records with certain users who are not typically engaged in that account is Compliant Data Sharing.Compliant Data Sharing is a feature that allows users to share records withother users based on criteria such as record type or field value. Users can create sharing rules for objects such as account, contact, individual, financial account role, opportunity participant role, or case team role. By using Compliant Data Sharing, the financial institution can share records with legal and compliance members who must be engaged for particular deals based on a field value that indicates the deal type.

QUESTIONNO: 114

Early in the discovery and solution meetings, it was determined that the client would primarily use out-of-the-box Financial Services Cloud (FSC) objects and components with minimal custom objects needed. In addition, it was decided that records should be private, but the managerial chain would require visibility into all their direct reports' records.

Which three security settings must be set up in Salesforce to meet these requirements?

A. Only Custom Profiles should be configured and assigned to all users to use FSC components and field-level security. The ^ administrator should configure custom profiles and assign them to all users

B. Organization-wide sharing defaults should be set to meet sharing requirements for all objects in use.

C. Each object sharing should be set up, explicitly sharing each user's record with the manager.

D. The Role Hierarchy in setup should be configured to allow for managers to automatically see records of those under them.

E. Custom permission sets and out-of-the-boxFSC permission sets should be configured or updated and assigned to all users for the use of FSC components and field-level security.

Answer: BDE

The following security settings must be set up in Salesforce to meet the requirements of using out-of-the-boxFinancial Services Cloud objects and components with minimal custom objects and private record sharing with managerial visibility:

Organization-wide sharing defaults should be set to meet sharing requirements for all objects in use. Organization-wide sharing defaults are the baseline level of access that users have to records that they do not own or are not explicitly shared with them. You can use organization-wide sharing defaults to specify the default access level for each object, such as Public Read/Write, Public Read Only, or Private. You can also use organization-wide sharing defaults to enable or disable features such as grant access using hierarchies, external access, or external org-wide defaults.

The Role Hierarchy in setup should be configured toallow for managers to automatically see records of those under them. The Role Hierarchy is a structure that represents the levels of data visibility and access that users have in an organization based on their role or position. You can use the Role Hierarchy to define the roles and subordinates for each user and grant access to records owned by or shared with users below them in the hierarchy. You can also use the Role Hierarchy to control the visibility of dashboards, reports, and territories.

Custom permission sets and out-of-the-box FSC permission sets should be configured or updated and assigned to all users for the use of FSC components and field-level security. Permission sets are a collection of settings and permissions that give users access to various tools and functions in Salesforce. You can use permission sets to grant additional permissions or access levels to users without changing their profile. You can also use permission sets to control the field-level security for each object and field, which determines whether users can view, edit, or delete data in those fields. Financial Services Cloud provides several out-of-the-box permission sets that grant access to FSC components and features, such as Action Plans, Financial Accounts, or RelationshipGroups. You can also create custom permission sets to meet your specific business needs. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2 : Salesforce Help Article 3

The following considerations should be included when configuring the report with branch management reportable objects:

Bankers with Branches withOpportunities, Accounts, Leads, and Contacts report types are available for creating reports with Branch Unit Related Records. These are standard report types that allow users to create reports that show data from Banker, Branch Unit, Opportunity, Account,Lead, Contact, and Branch Unit Related Record objects.

The reportable objects include Banker, Branch Unit, Branch Unit Related Records, and Branch Unit Customer. These are custom objects that are part of the branch management feature in Financial ServicesCloud. Banker is an object that represents a banker or an employee who works at a branch unit. Branch Unit is an object that represents a physical location where bankers provide services to customers. Branch Unit Related Record is an object that represents a record that is related to a branch unit, such as an opportunity, an account, a lead, or a contact. Branch Unit Customer is an object that represents a customer who has a relationship with a branch unit.

When Branch Unit is the primary object, the administrator can select Branch Unit Customers or Branch Unit Related Records as related objects. This means that the administrator can create reports that show data from Branch Unit and its related objects by using lookup fields or junction objects.

QUESTIONNO: 93

A financial services company needs to add new values for how a customer can be related to a financial account. Which object/field should the administrator add new values on?

A. Object: Financial Account Role; Field: Role

B. Object: Financial Account; Field: Primary Owner

C. Object: Financial Account; Field: Joint Owner

D. Object: Account-Account Relationship; Field: Related Role

Answer: A

To add new values for howa customer can be related to a financial account, the administrator should add new values on the Role field of the Financial Account Role object. The Financial Account Role object is a junction object that links a contact or an individual to a financial account and defines their role or relationship with that account. The Role field is a picklist field that specifies the role of the contact or individual for the financial account, such as owner, beneficiary, trustee, or custodian. By adding new values on the Role field of the Financial Account Role object, the administrator can create new categories of financial account relationships for customers. 

Action Plans are a feature that allows users to create templates for common client processes, such as loan approval, account opening, or financial review. Action Plans can create repeatable tasks and automate the task sequences when executed. When an action plan is created from a template for a specific target record, such as an account or an opportunity, items that have no assigned user are assigned to the owner of that target record. Action Plans can also enhance collaboration and productivity by automatically assigning task owners and deadlines for specific client processes.

The following things must be kept in mind when creating Action Plan Templates:

When creating Action Plan Templates with the UI, you can designate a plan owner different from the plan creator. The plan owner is the userwho is responsible for executing the tasks in the Action Plan. The plan creator is the user who creates the Action Plan Template or the Action Plan from the template. You can assign a different plan owner for each Action Plan Template or Action Plan.

An Action Plan is a run-time instance of the template that allows you to automate the sequence of the tasks you defined in the template. An Action Plan Template is a reusable blueprint that defines the tasks, owners, and deadlines for a common business processor service request. An Action Plan is a specific implementation of the template that applies to a particular target record, such as an account, contact, or opportunity.

When you create an Action Plan from a template for a specific target record, item deadlines are calculated using the start date and date offset defined in the Action Plan Template. The start dateis the date when you create the Action Plan from the template. The date offset is the number of days before or after the start date when each taskis due. You can specify different date offsets for each task in the template. Verified References: : Salesforce Help Article 2 : Salesforce Help Article 3 : Salesforce Help Article 4