SHARED ASSESSMENTS CTPRP EXAM | CTPRP VALID STUDY GUIDE - MOST RELIABLE WEBSITE FOR YOU

Shared Assessments CTPRP Exam | CTPRP Valid Study Guide - Most Reliable Website for you

Shared Assessments CTPRP Exam | CTPRP Valid Study Guide - Most Reliable Website for you

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Tags: CTPRP Valid Study Guide, CTPRP Exam Brain Dumps, CTPRP Latest Braindumps Ppt, CTPRP Pass4sure, CTPRP Latest Dumps

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Shared Assessments Certified Third-Party Risk Professional (CTPRP) Sample Questions (Q355-Q360):

NEW QUESTION # 355
How does the criticality of the service provided by a third party affect the questionnaire design?

  • A. It allows for a shorter, more general questionnaire for all third parties.
  • B. It dictates the level of detail and breadth of security domains to be included.
  • C. It leads to an increase in the number of questions regardless of relevance.
  • D. It encourages a more lenient approach to assessing less critical services.

Answer: B

Explanation:
The criticality of the service provided by the third party dictates the level of detail and the scope of the security domains included in the questionnaire. For critical services, a more detailed and comprehensive approach is necessary to thoroughly assess potential risks and ensure robust security measures are in place.


NEW QUESTION # 356
Which statement is FALSE regarding the foundational requirements of a well-defined third party risk management program?

  • A. We have established Management and Board-level reporting to enable risk-based decisionmaking
  • B. We have defined senior and executive management accountabilities for oversight of our TPRM program
  • C. We conduct onsite or virtual assessments for all third parties
  • D. We have established vendor risk ratings and classifications based on a tiered hierarchy

Answer: C

Explanation:
A well-defined third party risk management program does not require conducting onsite or virtual assessments for all third parties, as this would be impractical, costly, and inefficient. Instead, a TPRM program should adopt a risk-based approach to determine the frequency, scope, and depth of assessments based on the inherent and residual risks posed by each third party. This means that some third parties may require more frequent and comprehensive assessments than others, depending on factors such as the nature, scope, and criticality of their services, the sensitivity and volume of data they access or process, the regulatory and contractual obligations they must comply with, and the results of previous assessments and monitoring activities. A risk-based approach to assessments allows an organization to allocate its resources and efforts more effectively and efficiently, while also ensuring that the most significant risks are adequately addressed and mitigated.
References:
* Shared Assessments, CTPRP Job Guide, page 9: "The frequency, scope, and depth of assessments should be determined by the inherent and residual risks posed by each third party."
* OneTrust, [What is Third-Party Risk Management?]: "A risk-based approach to third-party risk management means that you prioritize your efforts and resources based on the level of risk each vendor poses to your organization."
* [Deloitte], [Third Party Risk Management: Managing Risk]: "A risk-based approach to third-party risk
* management helps organizations prioritize their efforts and resources based on the level of risk each third party poses to the organization."


NEW QUESTION # 357
In a scenario where the analysis of vendor responses indicates a lack of adequate security controls, what should be the immediate next step?

  • A. The vendor should be given a standard notice to improve without specific guidance
  • B. Immediate termination of the vendor contract should be considered
  • C. The vendor should be prioritized for further validation, testing, or remediation of their security controls
  • D. Consider reducing the scope of engagement with the vendor until issues are resolved

Answer: C

Explanation:
When a lack of adequate security controls is identified, it is imperative to prioritize the vendor for further validation, testing, or remediation. This step is necessary to address and mitigate the identified risks and to ensure that the vendor meets the organization's security standards.


NEW QUESTION # 358
The BEST way to manage Fourth-Nth Party risk is:

  • A. Include a provision in the contract prohibiting the vendor from outsourcing any service which includes access to confidential data or systems
  • B. Incorporate notification and approval contract provisions for subcontracting that require evidence of due diligence as defined by a TPRM program
  • C. Include a provision in the vender contract requiring the vendor to provide notice and obtain written consent before outsourcing any service
  • D. Require the vendor to maintain a cyber-insurance policy for any service that is outsourced which includes access to confidential data or systems

Answer: B

Explanation:
Fourth-Nth party risk refers to the potential threats and vulnerabilities associated with the subcontractors, vendors, or service providers of an organization's direct third-party partners. This can create a complex network of dependencies and exposures that can affect the organization's security, data protection, and business resilience. To manage this risk effectively, organizations should conduct comprehensive due diligence on their extended vendor and supplier network, and include contractual stipulations that require notification and approval for any subcontracting activities. This way, the organization can ensure that the subcontractors meet the same standards and expectations as the direct third-party partners, and that they have adequate controls and safeguards in place to protect the organization's data and systems. Additionally, the organization should monitor and assess the performance and compliance of the subcontractors on a regular basis, and update the contract provisions as needed to reflect any changes in the risk environment. References:
* Understanding 4th- and Nth-Party Risk: What Do You Need to Know?
* Best Practices for Fourth and Nth Party Management
* Fourth-Party Risk Management: Best Practices


NEW QUESTION # 359
What is the main purpose of requiring visitors to sign-in and sign-out at a facility?

  • A. To provide a welcoming environment for visitors
  • B. To reduce the time spent by visitors at security checkpoints
  • C. To control and monitor access to the facility
  • D. To streamline the administrative process for visitors

Answer: C

Explanation:
Requiring visitors to sign-in and sign-out is critical to control and monitor access to the facility. This process ensures that all visitors are accounted for, which is essential for maintaining security and managing the flow of people in and out of the premises effectively.


NEW QUESTION # 360
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