Vlocity Insurance UPDATED ACTUAL Exam Questions and CORRECT Answers
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Course
Vlocity Insurance
Institution
Vlocity Insurance
Vlocity Insurance UPDATED ACTUAL
Exam Questions and CORRECT Answers
where are attributes defined? - CORRECT ANSWER- Attributes are defined within an
Attribute Category and they are given a name and a code
Attributes are assigned to what? - CORRECT ANSWER- Attributes are assigned to Specs
su...
Vlocity Insurance UPDATED ACTUAL
Exam Questions and CORRECT Answers
where are attributes defined? - CORRECT ANSWER✔✔- Attributes are defined within an
Attribute Category and they are given a name and a code
Attributes are assigned to what? - CORRECT ANSWER✔✔- Attributes are assigned to Specs
such as "Coverage Spec" and possible values can be defined for them
what happens when Child Specs are added to a Root Product? - CORRECT ANSWER✔✔-
when Child Specs are added to a Root Product, their Attributes can be customized for that
Root Product. Attributes can also be assigned at the Root Product level.
can Attribute settings include information for input to rating? - CORRECT ANSWER✔✔-
True
what is a Root Product Spec? - CORRECT ANSWER✔✔- the top level spec that defines a
whole insurance or heath product. It includes one or more of the other kinds of specs. The
record type used for this is "Product"
What is an Insured Item Spec? - CORRECT ANSWER✔✔- Is the spec that models a piece of
property that a product will insure. Some examples or insured items include vehicles, boats
and homes. The record type used is "Insured Item Spec".
Not all insurance and health products include insured party specs. - CORRECT
ANSWER✔✔- True
Auto insurance products and life insurance products typically include insured party specs. -
CORRECT ANSWER✔✔- True
The Root Product could be a small business insurance plan, a small business health plan, or
some other type of plan/product which is to be sold or offered. - CORRECT ANSWER✔✔-
true
,when the Root Product is configured, multiple Child Specifications (Specs) are added to it
such as to define the coverage it provides. - CORRECT ANSWER✔✔- true
Attributes can only be assigned to Specs - CORRECT ANSWER✔✔- False. Attributes can be
assigned to both the Root Product and the Specs, but especially to the specs.
what is a Spec? - CORRECT ANSWER✔✔- A Specification is essentially a collection of
Attributes ex: insurance item spec, insured party spec, coverage spec, rating fact spec.
what is an Attribute? - CORRECT ANSWER✔✔- Building blocks that capture features and
characteristics, they differentiate one Spec from another.
there are multiple types of Child Specs including Coverage Specs, Insured Item Specs,
Insured Party Specs and Rating Fact Specs - CORRECT ANSWER✔✔- True
An insured item Spec is used for? - CORRECT ANSWER✔✔- For items/things that your
product cover
An Insured Party Spec is used for? - CORRECT ANSWER✔✔- For People that your product
covers.
A Coverage Spec is used for.? - CORRECT ANSWER✔✔- Benefits and Coverages that your
products provide.
A rating fact spec is used for? - CORRECT ANSWER✔✔- Other data for pricing/rating such
as group information or past claim data
There can be only Child Spec of the same type added to a Root Product - CORRECT
ANSWER✔✔- False. There are often multiple Child Specs like Coverage Specs added to a
Root Product to define coverages that product offers.
The Root Product and the Child Specs are all defined as Salesforce Products, but each has a
different Record Type - CORRECT ANSWER✔✔- True
, Coverage Specs apply to all of the lines of business (health small group, multi auto, Insurance
small business) but the other Specs may not. - CORRECT ANSWER✔✔- True
what type of Specs apply to Quoting for Insurance - Small Business? - CORRECT
ANSWER✔✔- 1) Coverage Specs
2) Insured Item Specs
for example, a Coverage Spec could be a Liability Coverage and an Insured Item Spec could
be for Small Businesses
what type of Specs apply to Quoting for Insurance - Multi Auto? - CORRECT
ANSWER✔✔- 1) Coverage Specs
2) Insured Item Specs
3) Insured Party Specs
for example, a Coverage Spec could be for liability Coverage. The Insured Item Spec and
Insured Party Spec would be for a vehicle and driver respectively
what type of Specs apply to Quoting for Health - Small Group? - CORRECT ANSWER✔✔-
1) Coverage Spec
2) Rating Fact Spec
for example, the Coverage Spec could capture the benefits to offer in plan. the Rating Fact
Spec represents information for census and census members.
Products offered to Individuals don't use census - CORRECT ANSWER✔✔- True
Products offered to a Group don't use census - CORRECT ANSWER✔✔- False
Quoting is based on census data for Group (Products) - CORRECT ANSWER✔✔- True
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