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

1. In the context of Third-party Security Scoring Configuration/Risk Intelligence, what is the significance of incorporating industry benchmarks?
Response:

A) They are used to determine the pricing of contracts.
B) They provide a standard for minimal acceptable performance.
C) They offer a comparative analysis of third-party performance against peers.
D) They eliminate the need for internal risk assessments.

2. Which module within ServiceNow GRC helps in assessing the risk level of third parties before engaging in a business relationship?
Response:

A) Human Resources
B) Project Management
C) Incident Response
D) Vendor Risk Management

3. How can workflow automation impact the approval process in third-party risk management?
Response:

A) It eliminates the need for manual approval entirely
B) It ensures consistency and reduces the time needed for approvals
C) It complicates the approval process by adding unnecessary steps
D) It increases the risk of unauthorized approvals

4. What is the purpose of continuous monitoring in the Third-party Risk Management process?
Response:

A) To identify and address emerging risks throughout the third-party relationship
B) To ensure the third party is paid on time
C) To periodically review and update the contract with the third party
D) To maintain an archive of third-party communication logs

5. __________ involves defining specific actions and responsibilities to address identified risks with third-party vendors.
Response:

A) Third-party Risk Task Configuration
B) Risk Assessment Methodology
C) Third-party Risk Process Workflow
D) Risk Mitigation Planning

Solutions: