-> If you have an inductor in a finite element magnetic solver, the resulting inductance should be used in the circuit solver
-> If you have a resistor in the circuit solver, the power loss over that element should be used in the finite element thermal solver
-> If you have a inductor in a finite element electric solver, the resulting parasitic capacitance should be used in the circuit solver
That is the general idea here of "SmartCircuits" whereas "DumbCircuits" are simply for feeding components being made in the FEM solver without the co-simulation.