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| Section | Weight | Objectives |
|---|---|---|
| Third-Party Portal and Collaboration | 18% | - Request management: questionnaires, documents, evidence - Portal configuration, branding, and navigation - Access management and permissions - Communication and notification setup |
| TPRM Application Overview and Core Configuration | 24% | - Risk intelligence and integration configuration - Contacts and engagement setup - Risk domains, criteria, and scoring rules - Third-party record management and hierarchy - Application architecture and key components |
| Reporting, Integration, and Compliance | 6% | - Compliance frameworks and regulatory alignment - Dashboards, reports, and analytics - Integration with GRC and other ServiceNow applications |
| Process Automation and Workflows | 19% | - Workflow design and customization - Approval processes and escalation rules - Issue and action item management - Task assignment and tracking |
| Assessment Configuration and Management | 33% | - Questionnaire templates and scales setup - Assessment types: internal, external, due diligence - Assessment lifecycle, scheduling, and generation - Scoring calculations and risk rating determination - Inherent Risk Questionnaire (IRQ) configuration |
Question 1
How do technical assessments contribute to the overall Third-party Risk Management strategy?
Response:
A. By providing detailed financial analysis of third-party vendors
B. By identifying potential technological risks that could impact the organization
C. By determining the third party,s customer service capabilities
D. By enhancing the third party's branding and market presence
Question 2
What does Core Configuration typically involve in Third-Party Risk Management systems?
Response:
A. Customizing report templates
B. All of the above
C. Setting user permissions and roles
D. Defining risk assessment methodologies
Question 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 ensure that changes in risk management processes are systematically reviewed and approved
C. To enhance the security posture of third-party vendors
D. To decrease the time it takes to onboard new third-party vendors
Question 4
What actions can occur in the Third-party Portal?
Response:
A. Respond to a Third-party Risk Assessment
B. Manage Third-party Contacts
C. View Project Gannt Charts
D. Submit an incident
Question 5
Which factor is critical when defining the criteria for third-party risk assessments during the assessment configuration process?
Response:
A. The color scheme used in assessment reports
B. The geographical location of the organization
C. The preferred communication channel of the third party
D. The specific risks associated with the services provided by the third party
Solutions:
| Question 1 Answer: A | Question 2 Answer: D | Question 3 Answer: A | Question 4 Answer: A,C | Question 5 Answer: D |
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