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ServiceNow Certified Implementation Specialist - Third-party Risk Management Sample Questions (Q18-Q23):

NEW QUESTION # 18
What should be the primary focus when implementing changes to the workflow process in third-party risk management?
Response:

A. Ensuring that all changes are documented and communicated to relevant parties
B. Reducing the number of stakeholders involved to speed up the process
C. Allowing each department to independently manage its own changes
D. Prioritizing cost reduction over process effectiveness

Answer: A

NEW QUESTION # 19
In Third-party Risk Assessment Calculations, which of the following factors are typically considered?
(Choose two)
Response:

A. The financial stability of the third party.
B. The geographical location of the third party.
C. The third party,s adherence to relevant industry standards.
D. The color of the third party,s logo.

Answer: A,D

NEW QUESTION # 20
Which feature is crucial for ensuring the effectiveness of reports generated from third-party risk management dashboards?
Response:

A. Limiting access to only a few users.
B. Real-time data integration.
C. The ability to generate reports only annually.
D. Aesthetic design.

Answer: B

NEW QUESTION # 21
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. The risk associated with international third parties
C. Financial risks arising from contractual penalties
D. Risks posed by the third party,s own suppliers and partners

Answer: C

NEW QUESTION # 22
Which method is recommended for managing third-party contacts to ensure streamlined communication?
Response:

A. Assigning roles based on geographic proximity
B. Using a centralized contact management system
C. Allowing third parties to self-manage contacts
D. Rotating contact roles periodically

Answer: B

NEW QUESTION # 23
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