Third-party Risk Management Fundamentals Questions

Understand the core concepts, data model, and key components of Third-party Risk Management in ServiceNow.

14 total questions3 free questions

About Third-party Risk Management Fundamentals

Third-party Risk Management (TPRM) helps organizations identify, assess, and manage risks associated with vendors, suppliers, and other third parties. It provides a structured approach to vendor risk assessment and ongoing monitoring.

Why This Matters for Your Exam

Fundamentals covers 23% of the CIS-TPRM exam. This foundational knowledge is essential for understanding all other TPRM concepts.

Key Concepts to Master

Master the TPRM data model including vendors, engagements, and assessments. Understand risk tiers, risk factors, and the vendor lifecycle.

Exam Tips

Focus on the relationship between vendors, engagements, and assessments. Know the different risk tiers and what they mean for assessment requirements.

Practice Questions

14 questions available
1
knowledge

What is the primary purpose of the Third-party Risk Management (TPRM) application in ServiceNow?

ATo manage internal employee performance reviews
BTo identify, assess, and mitigate risks associated with third-party relationships
CTo handle customer service incidents and requests
DTo manage software asset licenses and compliance

👆 Click an option above to select your answer

2
knowledgeSelect all that apply

Which of the following are key capabilities of the Third-party Risk Management application? (Choose THREE)

AOnboarding, Offboarding, and Renewals workflows
BAssessment management
CChange Advisory Board scheduling
DContinuous risk monitoring
EService Level Agreement tracking

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3
knowledge

Which user role is responsible for leading thorough risk assessments of third parties and developing mitigation strategies?

AContract negotiator
BTPRM Admin
CRisk Manager
DDue diligence requester

👆 Click an option above to select your answer