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Implementing __________ is key to ensuring that risk management changes are aligned with organizational policies and strategic objectives.
Response:
A. Third-party Risk Issue Configuration
B. Strategic Risk Alignment
C. Third-party Risk Task Configuration
D. Approval and Workflow Process Changes
Answer: D
NEW QUESTION # 122
Why is it important to configure issues with priority levels in third-party risk management?
Response:
A. To allow third-party vendors to determine issue severity
B. To enable resources to be focused on resolving the most critical issues first
C. To ensure all issues are treated equally regardless of impact
D. To minimize the visibility of less critical issues
Answer: B
NEW QUESTION # 123
Which of the following elements are typically considered in third-party risk assessment calculations?
(Choose two)
Response:
A. The color of the third party,s logo
B. The financial stability of the third party
C. The personal preferences of the third party,s CEO
D. The third party,s historical compliance with industry standards
Answer: C,D
NEW QUESTION # 124
What advantage does automating the Third-Party Risk Management process in ServiceNow provide?
Response:
A. Automates the process of hiring new employees
B. Decreases transparency in the risk management process
C. Increases the risk of data breaches
D. Significantly reduces the time and effort required to manage risks
Answer: D
NEW QUESTION # 125
Tiering third parties based on risk and criticality aids in:
Response:
A. Reducing the number of third-party vendors
B. Simplifying contract negotiations
C. Eliminating the need for security scoring
D. Focusing risk management efforts where they are most needed
Answer: D
NEW QUESTION # 126
......
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