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Last Updated: Sep 07, 2025
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1. In ServiceNow GRC, what is the function of "Indicators" in the context of monitoring control compliance for third-party risks?
Response:
A) They provide metrics that measure the effectiveness of control activities related to third-party risks
B) They track financial transactions only
C) They are used to send automated emails to third-party vendors
D) They serve as reminders for upcoming meetings
2. Which fields are included on the Third-party Contact form?
(Select two)
Response:
A) Risk rating
B) Primary Contact
C) Rank tier
D) Email
3. What is the role of industry benchmarks in Third-party Security Scoring?
Response:
A) They simplify the security assessment process
B) They allow for comparative analysis across similar third parties
C) They eliminate the need for custom scoring models
D) They set a fixed standard for all vendors
4. What is the primary purpose of implementing Approval and Workflow Process Changes in Third-party Risk Management?
Response:
A) To enhance the security posture of third-party vendors
B) To decrease the time it takes to onboard new third-party vendors
C) To ensure that changes in risk management processes are systematically reviewed and approved
D) To increase the cost efficiency of third-party services
5. Why is it important to periodically review and update task configurations in third-party risk management?
Response:
A) To reduce the number of tasks over time
B) To ensure that task configurations reflect the current risk environment and organizational priorities
C) To prevent employees from becoming too familiar with their tasks
D) To align tasks with outdated risk management strategies
Solutions:
Question # 1 Answer: C | Question # 2 Answer: B,D | Question # 3 Answer: A | Question # 4 Answer: D | Question # 5 Answer: B |
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