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

1. Which module within ServiceNow GRC helps in assessing the risk level of third parties before engaging in a business relationship?
Response:

A) Project Management
B) Incident Response
C) Vendor Risk Management
D) Human Resources

2. What critical factor should be considered when assigning tiers in Third-party Tiering Configuration?
Response:

A) The financial stability of the third party
B) The duration of the contract
C) The location of the third party
D) The strategic importance to the business

3. What is the primary objective of the Third-party Portal Configuration in ServiceNow?
Response:

A) To track the financial transactions of third parties
B) To streamline third-party onboarding processes
C) To enable efficient interaction and communication between the organization and its third parties
D) To store third-party compliance documents

4. What is the primary goal of Due Diligence Requests in the Assessment Configuration process?
Response:

A) To negotiate better contract terms with third parties.
B) To gather essential information to evaluate a third party,s risk posture.
C) To ensure the timely payment of invoices by third parties.
D) To identify potential third-party partners for future projects.

5. In Third-party Contacts Configuration, what is essential for maintaining effective communication and minimizing risk?
Response:

A) Limiting contact roles to a single individual
B) Avoiding direct communication channels
C) Establishing multiple layers of redundancy
D) Using a generic contact email address

Solutions: