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Practice with these CIS-TPRM dumps Certification Sample Questions
NEW QUESTION # 79
What is a key activity involved in managing the third-party risk assessment lifecycle?
Response:
- A. Continuously updating assessment criteria based on changes in the external environment
- B. Limiting assessments to only the initial due diligence phase
- C. Avoiding reassessment to maintain consistent risk levels
- D. Ensuring the assessment process is performed once during the onboarding phase
Answer: D
NEW QUESTION # 80
Which feature in ServiceNow GRC helps in identifying the highest risk areas and prioritizing compliance activities?
Response:
- A. The Document Storage System
- B. The Social Media Integration module
- C. The Heat Map visualization
- D. The Email Campaign function
Answer: A
NEW QUESTION # 81
How does continuous monitoring play into the Third-party Risk Assessment Lifecycle?
Response:
- A. It provides ongoing insights into third-party performance and emerging risks.
- B. It should only be conducted on an annual basis to reduce burden.
- C. Continuous monitoring is only relevant for high-risk third parties.
- D. It is unnecessary if the initial assessment is thorough.
Answer: A
NEW QUESTION # 82
What is the primary purpose of implementing Approval and Workflow Process Changes in Third-party Risk Management?
Response:
- A. To decrease the time it takes to onboard new third-party vendors
- B. To ensure that changes in risk management processes are systematically reviewed and approved
- C. To enhance the security posture of third-party vendors
- D. To increase the cost efficiency of third-party services
Answer: D
NEW QUESTION # 83
What actions can occur in the Third-party Portal?
Response:
- A. View Project Gannt Charts
- B. Submit an incident
- C. Respond to a Third-party Risk Assessment
- D. Manage Third-party Contacts
Answer: A,C
NEW QUESTION # 84
In the context of Third-party Portfolio Configuration, what is a best practice for maintaining an up-to-date risk profile?
Response:
- A. Relying on historical data
- B. Conducting annual reviews only
- C. Limiting assessments to high-risk vendors
- D. Implementing real-time monitoring of third-party changes
Answer: B
NEW QUESTION # 85
What is the primary goal of Due Diligence Requests in the Assessment Configuration process?
Response:
- A. To identify potential third-party partners for future projects.
- B. To gather essential information to evaluate a third party,s risk posture.
- C. To ensure the timely payment of invoices by third parties.
- D. To negotiate better contract terms with third parties.
Answer: B
NEW QUESTION # 86
Which framework is commonly used for Third-Party Risk Management?
Response:
- A. COSO ERM Framework
- B. PESTLE Analysis
- C. SWOT Analysis
- D. The Five Forces Model
Answer: A
NEW QUESTION # 87
What type of risk is primarily concerned with third-party vendors'' compliance with laws and regulations?
Response:
- A. Financial Risk
- B. Operational Risk
- C. Compliance Risk
- D. Strategic Risk
Answer: A
NEW QUESTION # 88
Which of the following best describes the term "Fourth-party risk" in TPRM?
Response:
- A. Financial risks arising from contractual penalties
- B. Risks posed by the third party,s own suppliers and partners
- C. Direct risks faced by the organization from primary suppliers
- D. The risk associated with international third parties
Answer: A
NEW QUESTION # 89
What is a crucial aspect to consider when assigning tasks in third-party risk management to ensure effectiveness?
Response:
- A. Limiting task assignments to high-level management
- B. Ensuring tasks align with the individuals, expertise and responsibilities
- C. Allowing third-party vendors to choose their tasks
- D. Randomly assigning tasks to available personnel
Answer: B
NEW QUESTION # 90
What is a common table used for Third-party Risk Management reporting?
Response:
- A. Control [sn_control]
- B. Task [task]
- C. Third party [core_third_party]
- D. Third-party Risk Assessment [sn_vdr_risk_asmt_assessment]
Answer: B
NEW QUESTION # 91
What is the impact of real-time issue tracking in third-party risk management?
Response:
- A. It slows down the resolution process
- B. It is unnecessary for low-risk vendors
- C. It allows for immediate action on emerging risks
- D. It creates additional administrative burden
Answer: B
NEW QUESTION # 92
Why is it important to regularly update the risk criteria used in third-party assessments?
Response:
- A. To ensure that the assessment process remains consistent over time
- B. To reduce the complexity of the assessment process
- C. To reflect changes in the external environment and emerging risks
- D. To maintain a stable relationship with the third party
Answer: C
NEW QUESTION # 93
What advantage does automating the Third-Party Risk Management process in ServiceNow provide?
Response:
- A. Automates the process of hiring new employees
- B. Decreases transparency in the risk management process
- C. Significantly reduces the time and effort required to manage risks
- D. Increases the risk of data breaches
Answer: C
NEW QUESTION # 94
What configuration element is critical for ensuring the security of the Third-party Assessment Portal?
Response:
- A. Allowing unrestricted access to all users
- B. Periodic audits of the portal's security features
- C. Regular updates to the portal's visual design
- D. Implementing robust authentication and access controls
Answer: D
NEW QUESTION # 95
Which of the following activities is NOT typically part of the Third-party Risk Management process?
Response:
- A. Revenue optimization
- B. Continuous monitoring
- C. Risk assessment and analysis
- D. Contract negotiation
Answer: A
NEW QUESTION # 96
What is crucial for maintaining the security of a Third-party Portal?
Response:
- A. Ensuring all users have administrator access for convenience
- B. Limiting portal access to office hours only
- C. Regularly changing the color scheme of the portal interface
- D. Implementing robust authentication and access control measures
Answer: D
NEW QUESTION # 97
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