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

1. What type of risk is primarily concerned with third-party vendors'' compliance with laws and regulations?
Response:

A) Operational Risk
B) Financial Risk
C) Strategic Risk
D) Compliance Risk

2. What is the purpose of continuous monitoring in the Third-party Risk Management process?
Response:

A) To ensure the third party is paid on time
B) To maintain an archive of third-party communication logs
C) To identify and address emerging risks throughout the third-party relationship
D) To periodically review and update the contract with the third party

3. In managing international third-party contacts, what configuration consideration is critical?
Response:

A) Accounting for time zone differences and language preferences
B) Using a universal language for all communications
C) Centralizing all contacts in a single geographic location
D) Limiting contact information to email addresses only

4. What is an essential component to include when configuring a third-party risk assessment in ServiceNow?
Response:

A) Static risk thresholds applicable to all third parties
B) A flexible framework that allows for different assessment criteria based on the type of third-party engagement
C) An assessment tool that is only accessible to senior management
D) A fixed set of questions for all assessments, regardless of the third party,s role

5. Which feature in ServiceNow GRC helps in identifying the highest risk areas and prioritizing compliance activities?
Response:

A) The Document Storage System
B) The Heat Map visualization
C) The Social Media Integration module
D) The Email Campaign function

Solutions: