QUESTION: 9

Which two statements are true about Group Membership in Financial Services Cloud?

Group Membership defines the role of the member within the Group.
With Group Membership settings you can define if a Group is the member's primary Group.
With Group Membership settings you can define who is the primary and who is the secondary member within the Group.
Group Membership is modeled using the Account-Group Relationship object.

Answer(s): A,B

Explanation:

Group Membership is a construct in Financial Services Cloud that allows you to define the relationship between a group and its members. You can use Group Membership to specify the following information:
The role of the member within the group, such as Owner, Beneficiary, Trustee, etc.
Whether the group is the primary group for the member, which affects how financial data is rolled up and displayed. Verified

Reference:

: Salesforce Financial Services Cloud User Guide, page 38.

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QUESTION: 10

Lake Tahoe Bank has duplicate client records in their current CRM system because they come from a different systems of record. Any changes made in Salesforce should be updated in the source system.
What can a Salesforce Administrator do to help bankers get a consolidated view of the individual in the Financial Services Cloud?

Leverage Financial Services Cloud Relationship Groups to link duplicate client records and create a consolidated view.
Implement deduplication rules in Salesforce and let the integration handle the updates to the source system.
Create a custom Person Account hierarchy to link duplicate client records.
Create custom components to provide a single view of the client.
Link individuals using related contacts to link duplicate client records

Answer(s): A

Explanation:

A Relationship Group is a construct in Financial Services Cloud that allows you to model complex and dynamic relationships between clients and accounts. You can use Relationship Groups to link duplicate client records and create a consolidated view of their financial data, activities, and interactions. You can also use Relationship Groups to sync data between Salesforce and the source system using external IDs and integration tools. Verified

Reference:

: Salesforce Financial Services Cloud Implementation Guide, page 67.

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QUESTION: 11

Lake Tahoe Bank's financial advisors are complaining that they can't see an accurate summary of their clients financial data as clients often change households. How can an Admin set up Financial Services Cloud to provide financial advisors with an accurate summary of their client's financial data?

Create a roll-up field on the Opportunity object to track client's Financial Account balance and display the summary amount on the Person Account object.
Set clients financial data to be rolled up using Financial Services Cloud Primary Group.
Create a custom obiect to track client's financial data
Use Process Builder to create a workflow to summarize data at the Person Account level.

Answer(s): B

Explanation:

A Primary Group is a construct in Financial Services Cloud that allows you to define the main group for a client. You can use Primary Group to roll up financial data from all the financial accounts that are related to the client or the group. This way, you can get an accurate summary of the client's financial data regardless of how often they change households. Verified

Reference:

: Salesforce Financial Services Cloud Implementation Guide, page 69.

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QUESTION: 12

Lake Tahoe Bank allows more than two owners on Financial Accounts. The Salesforce Admin wants to make sure that balances are rolled up to all joint owner's primary Households.
Which 2 options does the Salesforce Admin have to accomplish this?

Enable all RBL (Rollup By Lookup) rules to ensure the balances are rolled up to the household level.
Enable the 'Enable Rollup Summary' in custom settings
Create custom RBL (Rollup By Lookup) rules to rollup the joint owner balances.
Disable RBL (Rollup By Lookup) rules that rollup balances using joint owner on Financial Account.
Enable RBL (Rollup By Lookup) rules that rollup balances using Financial Account Role for joint owners.

Answer(s): C,E

Explanation:

Rollup By Lookup (RBL) is a feature in Financial Services Cloud that allows you to display summary calculations of financial account information, such as balances, market values, and cost bases. You can use RBL to roll up financial data to all joint owners' primary households by doing the following:
Create custom RBL rules to rollup the joint owner balances using the Joint Owner field on the Financial Account object.
Enable RBL rules that rollup balances using Financial Account Role for joint owners using the Account

Role field on the Account Contact Relationship object. Verified

Reference:

: Salesforce Financial Services Cloud Implementation Guide, page 75.

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