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Which factor is critical when defining the criteria for third-party risk assessments during the assessment configuration process?
Response:
A. The preferred communication channel of the third party
B. The specific risks associated with the services provided by the third party
C. The color scheme used in assessment reports
D. The geographical location of the organization
Answer: B
NEW QUESTION # 23
Risks registered within an organization are captured as which type of record in ServiceNow?
Response:
A. Risk Statement
B. Control Template
C. Control Definition
D. Attestation
Answer: A
NEW QUESTION # 24
What is a key benefit of integrating real-time data feeds into the Third-party Assessment Portal?
Response:
A. It enables continuous monitoring of third-party risks with up-to-date information
B. It reduces the need for manual risk assessments
C. It allows third parties to manage their data independently
D. It simplifies the onboarding process for new third parties
Answer: A
NEW QUESTION # 25
What is a significant advantage of using dashboards in the Third-party Risk Management process?
Response:
A. They serve as a platform for third-party communication.
B. They enhance the organization,s ability to monitor and respond to third-party risks promptly.
C. They eliminate the need for regular risk assessments.
D. They increase the workload of risk management teams.
Answer: D
NEW QUESTION # 26
Which of the following activities is NOT typically part of the Third-party Risk Management process?
Response:
A. Contract negotiation
B. Continuous monitoring
C. Revenue optimization
D. Risk assessment and analysis
Answer: C
NEW QUESTION # 27
......
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