Salesforce Updated Financial-Services-Cloud Exam Questions and Answers by zephyr

To design the future state business process using FSC features, the administrator should create an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months when an account status is changed to “Customer”. An action plan is a feature that allows users to create templates for common client processes, such as account opening, loan application, or financial review. An action plan template consists of action plan items that define the tasks, subtasks, and deadlines for each step of the process. By creating an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months when an account status is changed to “Customer”, the administrator can automate the email reminder process and track and report on the progress in FSC

To configure a custom field for reporting when relating two-person accounts to each other, the Financial Services Cloud consultant should configure the custom field on the Account Account Relationship object. The Account Account Relationship object is a junction object that links two accounts together and defines their relationship type and role. By configuring a custom field on the Account Account Relationship object, the consultant can capture additional information about how two-person accounts are related to each other and use it for reporting purposes. 

Discovery Framework is a scalableassessment 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, andintegrations 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.