CIS-TPRM by ServiceNow Valid Free Exam Practice Test

Question 1

In Third-party Contacts Configuration, what is the primary goal?
Response:

A. To configure automated email responses B. To establish points of contact for risk management communication C. To determine the hierarchy of third-party organizations D. To track the geographical location of third-party contacts

Correct Answer: A

Question 2

What does Core Configuration typically involve in Third-Party Risk Management systems?
Response:

A. All of the above B. Customizing report templates C. Defining risk assessment methodologies D. Setting user permissions and roles

Correct Answer: C

Question 3

What is the role of industry benchmarks in Third-party Security Scoring?
Response:

A. They simplify the security assessment process B. They allow for comparative analysis across similar third parties C. They set a fixed standard for all vendors D. They eliminate the need for custom scoring models

Correct Answer: A

Question 4

Which framework is commonly used for Third-Party Risk Management?
Response:

A. The Five Forces Model B. SWOT Analysis C. COSO ERM Framework D. PESTLE Analysis

Correct Answer: C

Question 5

What is the primary objective of conducting due diligence requests during the third-party risk assessment process?
Response:

A. To establish a legal framework for third-party relationships B. To finalize contract terms with third parties C. To collect and evaluate critical information about third-party risks before engagement D. To reduce the overall cost of third-party services

Correct Answer: C

Question 6

Implementing __________ is key to ensuring that risk management changes are aligned with organizational policies and strategic objectives.
Response:

A. Third-party Risk Issue Configuration B. Third-party Risk Task Configuration C. Approval and Workflow Process Changes D. Strategic Risk Alignment

Correct Answer: C

Question 7

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. Implementing real-time monitoring of third-party changes C. Conducting annual reviews only D. Limiting assessments to high-risk vendors

Correct Answer: C

Question 8

Third-party Risk Task Configuration involves:
Response:

A. Specifying actions to be taken for risk assessment, monitoring, and mitigation B. Defining tasks that are unrelated to third-party risk management C. Setting up tasks for daily operational activities only D. Assigning all risk-related tasks to third-party vendors

Correct Answer: C

Question 9

Third-party Risk Assessment Generation involves:
Response:

A. Automated generation of assessments based on predefined triggers and schedules. B. Random selection of third parties for assessment. C. Sole reliance on third-party self-assessments. D. Generation of assessments annually, regardless of the risk profile.

Correct Answer: C

Question 10

In the context of Third-party Risk Assessment Calculations, how should dynamic changes in the external environment be handled?
Response:

A. Integrated into risk calculations to reflect current risk exposures. B. Handled separately by a different department unrelated to third-party risk management. C. Ignored, to maintain consistency in the assessment criteria. D. Noted but only considered during annual review cycles.

Correct Answer: A

ServiceNow Certified Implementation Specialist - Third-party Risk Management - CIS-TPRM Exam Practice Test