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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Remediation and Monitoring | 15% | - Implement due diligence processes - Generate risk dashboards and reports - Configure monitoring workflows - Create and track remediation tasks |
| Topic 2: Questionnaire Management | 20% | - Assign questionnaires to third parties - Build questionnaires using sections and questions - Create and manage questionnaires - Configure questionnaire workflows |
| Topic 3: Risk Assessment and Scoring | 20% | - Automate risk scoring workflows - Define risk thresholds and matrices - Configure risk calculation models - Implement inherent and residual risk scoring |
| Topic 4: Application Configuration | 25% | - Configure risk assessment templates - Configure TPRM foundational elements - Configure third-party types and categories - Configure questionnaire templates |
| Topic 5: Third-party Management | 20% | - Manage third-party registry - Implement third-party lifecycle management - Track third-party relationships and tiers - Configure SLA requirements |
1. What is the primary role of Third-party Security Scoring in risk management?
Response:
A) Quantifying the cybersecurity risk posed by third parties
B) Estimating the potential for business growth with third parties
C) Assigning arbitrary risk levels
D) Evaluating the financial impact of third parties
2. A robust Third-party Security Scoring Configuration should:
Response:
A) Focus only on cybersecurity aspects
B) Be updated bi-annually
C) Incorporate external risk intelligence and vulnerability data
D) Rely solely on internal assessments
3. What is an essential factor in managing the Third-party Risk Assessment Lifecycle effectively?
Response:
A) Ensuring there is a mechanism for integrating changes in third-party relationships.
B) Avoiding any reassessment to maintain a stable risk profile.
C) Focusing exclusively on initial due diligence at the start of the relationship.
D) Limiting the scope of assessments to cyber security risks only.
4. What is the primary function of dashboards in the context of Third-party Risk Management?
Response:
A) To provide a high-level overview of third-party risks and their statuses.
B) To communicate directly with third-party vendors.
C) To manage the financial transactions of third parties.
D) To execute automated risk assessments.
5. Why is it important to periodically review and update task configurations in third-party risk management?
Response:
A) To align tasks with outdated risk management strategies
B) To prevent employees from becoming too familiar with their tasks
C) To reduce the number of tasks over time
D) To ensure that task configurations reflect the current risk environment and organizational priorities
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: C | Question # 5 Answer: D |
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