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

1. What is a significant advantage of using dashboards in the Third-party Risk Management process?
Response:

A) They enhance the organization,s ability to monitor and respond to third-party risks promptly.
B) They increase the workload of risk management teams.
C) They eliminate the need for regular risk assessments.
D) They serve as a platform for third-party communication.

2. What is the outcome of proper Third-party Portfolio Configuration?
Response:

A) Simplified legal compliance processes
B) Enhanced understanding and management of the third-party landscape
C) Reduced need for risk assessments
D) Decreased reliance on third-party services

3. What is the benefit of engaging with third parties for feedback on the risk assessment process?
Response:

A) It simplifies the assessment process by limiting the scope of questions
B) It enhances the assessment process by incorporating insights from third parties, leading to more effective risk management
C) It allows third parties to take control of the assessment process
D) It reduces the time required to complete assessments

4. What is the primary objective of implementing technical controls during the Third-party Risk Management process?
Response:

A) To ensure that the third party meets the organization,s security and compliance requirements
B) To improve the third party,s operational efficiency
C) To reduce the costs associated with third-party services
D) To enhance the third party,s customer satisfaction levels

5. How does the integration of ServiceNow GRC with other ServiceNow applications enhance third-party risk management?
Response:

A) It reduces the overall system functionality
B) It isolates third-party risk management from other business processes
C) It creates duplicate records for each application
D) It enables a holistic view of all risks, including those related to third-party vendors, across the organization

Solutions: