Free ServiceNow CIS-TPRM Exam Dumps Questions & Answers

Which component is crucial for Third-party Risk Assessment Generation to adapt over time?
Response:

• A.  Incorporation of feedback mechanisms for continuous improvement.
• B.  A static approach that remains consistent for simplicity.
• C.  Exclusive use of third-party self-reported data without verification.
• D.  Periodic manual reviews without automated processes.

What is the primary goal of Due Diligence Requests in the Assessment Configuration process?
Response:

• A.  To negotiate better contract terms with third parties.
• B.  To gather essential information to evaluate a third party,s risk posture.
• C.  To identify potential third-party partners for future projects.
• D.  To ensure the timely payment of invoices by third parties.

Which feature should be prioritized in the design of a Third-party Assessment Portal to ensure user accountability?
Response:

• A.  Limiting user access based on seniority levels
• B.  A comprehensive audit log tracking all user activities within the portal
• C.  The ability to integrate with third-party social media accounts
• D.  A customizable user interface with company branding

How does the integration of risk management tools with the Third-party Portal enhance risk assessment capabilities?
Response:

• A.  By enabling detailed analysis and reporting on third-party risks
• B.  By streamlining the approval process for third-party contracts
• C.  By reducing the need for internal risk assessments
• D.  By automating the submission process for third parties

Effective management of the Third-party Risk Assessment Lifecycle requires:
(Choose two)
Response:

• A.  Regular updates to risk assessment criteria based on changing risk landscapes.
• B.  Isolation of the risk assessment team from other business units to prevent bias.
• C.  Engagement with third parties for feedback on the assessment process.
• D.  Dependence on third-party self-assessment without verification.