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1. How does effective Third-party Security Scoring Configuration enhance an organization's risk posture?
Response:
A) By automating all risk assessments without oversight
B) By integrating both internal and external risk intelligence
C) By providing qualitative assessments only
D) By focusing solely on external threats
2. What role does Policy and Compliance Management play in ServiceNow''s GRC module?
Response:
A) It tracks the personal interests of employees.
B) It manages and automates the lifecycle of policies and compliance processes.
C) It ensures that all employees follow the dress code.
D) It solely manages the financial transactions of the organization.
3. Which framework is commonly used for Third-Party Risk Management?
Response:
A) The Five Forces Model
B) PESTLE Analysis
C) SWOT Analysis
D) COSO ERM Framework
4. Which of the following is an essential component of the technical assessment process in Third-party Risk Management?
Response:
A) Assessing the third party,s marketing effectiveness
B) Negotiating contract terms based on technical findings
C) Reviewing the third party,s legal history
D) Evaluating the third party,s IT infrastructure and data protection measures
5. Which of the following is NOT a benefit of optimizing the Third-party Risk Process Workflow?
Response:
A) Improved collaboration across departments
B) Reduced time in identifying and mitigating risks
C) Greater dependency on individual judgment in risk processes
D) Increased transparency in third-party risk management
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: C | Question # 5 Answer: A |
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