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ServiceNow Certified Implementation Specialist - Third-party Risk Management Sample Questions (Q74-Q79):

NEW QUESTION # 74
Which key component should be prioritized during the initial setup of Third-party Portfolio Configuration to ensure a comprehensive risk assessment?
Response:

A. Financial transactions
B. Contract lengths
C. Risk and criticality tiers
D. Service categories

Answer: C

NEW QUESTION # 75
In the context of Third-party Security Scoring Configuration/Risk Intelligence, what is the significance of incorporating industry benchmarks?
Response:

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

Answer: A

NEW QUESTION # 76
What is the impact of failing to conduct thorough technical assessments in Third-party Risk Management?
Response:

A. Improved financial performance
B. Enhanced third-party relationships
C. Increased operational efficiency
D. Higher risk of security breaches and compliance violations

Answer: D

NEW QUESTION # 77
What is a common challenge when conducting technical assessments as part of Third-party Risk Management?
Response:

A. Ensuring the assessment is completed within the organization,s budget
B. Aligning the assessment with the organization,s marketing strategy
C. Accessing accurate and up-to-date information from the third party
D. Determining the legal framework applicable to the assessment

Answer: A

NEW QUESTION # 78
Effective Third-party Contacts Configuration ensures:
Response:

A. Increased third-party performance
B. Efficient risk communication
C. Lowered overall risk scores
D. Enhanced contractual compliance

Answer: B

NEW QUESTION # 79
......

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