Question:

Does an Approved Email Template support dependent tokens in CRM?

Example:

The Account object has a field for gender. If the gender field value is male, then show Dear Mr on the start of the email. Otherwise, if the value is female, show it as Dear Mrs. 

Answer:

The Approved Email Template does not currently support dependent tokens.

In the example above, a possible solution can be:

1. The user creates a picklist field on Account - Salutation__c.
2. This field is populated by the user based on the gender of the account. 
3. Give users Field Level Security (FLS) on this field.
4. Email Templates reference this new field. The Approved Email Template retrieves the value based on what is populated for each account.