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

1. Which fields are included on the Third-party Contact form?
(Select two)
Response:

A) Email
B) Primary Contact
C) Risk rating
D) Rank tier

2. What is the primary driver for implementing Third-party Risk Management in an organization?
Response:

A) To improve the organization's public image
B) To reduce the cost of outsourcing services
C) To comply with regulatory requirements and protect the organization from third-party risks
D) To enhance marketing efforts

3. Which feature in ServiceNow GRC helps in identifying the highest risk areas and prioritizing compliance activities?
Response:

A) The Social Media Integration module
B) The Document Storage System
C) The Email Campaign function
D) The Heat Map visualization

4. How does continuous monitoring play into the Third-party Risk Assessment Lifecycle?
Response:

A) It is unnecessary if the initial assessment is thorough.
B) Continuous monitoring is only relevant for high-risk third parties.
C) It should only be conducted on an annual basis to reduce burden.
D) It provides ongoing insights into third-party performance and emerging risks.

5. Which of the following best describes the term "Fourth-party risk" in TPRM?
Response:

A) Direct risks faced by the organization from primary suppliers
B) Risks posed by the third party,s own suppliers and partners
C) Financial risks arising from contractual penalties
D) The risk associated with international third parties

Solutions: