ServiceNow CIS-TPRM : Certified Implementation Specialist - Third-party Risk Management

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ServiceNow Certified Implementation Specialist - Third-party Risk Management Sample Questions:

1. What is the benefit of engaging with third parties for feedback on the risk assessment process?
Response:

A) It enhances the assessment process by incorporating insights from third parties, leading to more effective risk management
B) It simplifies the assessment process by limiting the scope of questions
C) It reduces the time required to complete assessments
D) It allows third parties to take control of the assessment process

2. To effectively manage and resolve issues, it''s essential to have a robust __________ system in place.
Response:

A) Vendor Onboarding Process
B) Third-party Risk Issue Configuration
C) Workflow Approval Process
D) Task Management

3. What is the primary purpose of implementing Approval and Workflow Process Changes in Third-party Risk Management?
Response:

A) To increase the cost efficiency of third-party services
B) To decrease the time it takes to onboard new third-party vendors
C) To enhance the security posture of third-party vendors
D) To ensure that changes in risk management processes are systematically reviewed and approved

4. The primary purpose of Third-party Contacts Configuration is to:
Response:

A) Catalog third-party contacts based on geographical location
B) Facilitate effective communication and escalation paths for risk management
C) Monitor the performance metrics of third-party contacts
D) Ensure seamless payment processes to third parties

5. What is the significance of "Risk Scoring" in ServiceNow Third-Party Risk Management?
Response:

A) It prioritizes risks based on their potential impact and likelihood.
B) It is a decorative feature without practical use.
C) It scores the popularity of third parties among employees.
D) It is used to determine the budget allocation for social events.

Solutions: