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ServiceNow Certified Implementation Specialist - Third-party Risk Management Sample Questions:
1. What is a critical aspect of Third-party Risk Assessment Configuration for ensuring effectiveness?
Response:
A) Including a wide range of stakeholders in the assessment process.
B) Setting up the assessment to automatically adjust risk thresholds based on industry trends.
C) Prioritizing third parties based on the volume of transactions.
D) Configuring the assessment tool to accept only positive feedback about third parties.
2. What is the role of industry benchmarks in Third-party Security Scoring?
Response:
A) They set a fixed standard for all vendors
B) They allow for comparative analysis across similar third parties
C) They simplify the security assessment process
D) They eliminate the need for custom scoring models
3. What is a key consideration when developing a Third-party Tiering Configuration strategy?
Response:
A) Relying on third-party self-assessments only
B) Prioritizing short-term contracts
C) Incorporating both qualitative and quantitative risk indicators
D) The ability to downgrade vendors automatically based on performance
4. Which key component should be prioritized during the initial setup of Third-party Portfolio Configuration to ensure a comprehensive risk assessment?
Response:
A) Risk and criticality tiers
B) Financial transactions
C) Contract lengths
D) Service categories
5. What is an essential factor in managing the Third-party Risk Assessment Lifecycle effectively?
Response:
A) Ensuring there is a mechanism for integrating changes in third-party relationships.
B) Focusing exclusively on initial due diligence at the start of the relationship.
C) Avoiding any reassessment to maintain a stable risk profile.
D) Limiting the scope of assessments to cyber security risks only.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: D |
By Joyce
