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NEW QUESTION # 113
The decision to request a vendor to replace a non-compliant subcontractor primarily seeks to mitigate the ___________ of the vendor's non-compliance on the company.
- A. potential impact
- B. slight risk
- C. negligible consequence
- D. minimal effect
Answer: A
Explanation:
The main concern in requesting a replacement is to minimize the adverse effects of the subcontractor's non-compliance on the company, protecting it from potential operational disruptions, reputational damage, or security threats.
NEW QUESTION # 114
Application whitelisting effectively ensures that only ___________ applications are allowed to execute on a system.
- A. automatically updated
- B. externally sourced
- C. newly installed
- D. previously approved
Answer: D
Explanation:
Application whitelisting ensures that only previously approved applications, which are deemed safe and necessary for business operations, are allowed to execute. This control mechanism reduces the risk of malicious software execution but doesn't involve new, automatic, or external updates unless they are specifically approved and added to the whitelist.
NEW QUESTION # 115
What is the main purpose of TPRM vendor classification?
- A. To prioritize and allocate resources for vendor assessment, monitoring, and remediation
- B. To align vendor services strictly with short-term business goals
- C. To reduce the number of vendors used by the organization to a manageable few
- D. To exclusively focus on reducing costs associated with vendor services
Answer: A
Explanation:
TPRM vendor classification is designed to ensure that resources are allocated efficiently for assessing, monitoring, and remediating vendors based on their importance and risk to the organization. This helps prioritize which vendors need the most attention based on their criticality and potential impact.
NEW QUESTION # 116
Why are SLA metrics not typically included in external continuous monitoring solutions?
- A. They often do not align with the specific criteria and frequency agreed upon by the parties.
- B. They are more relevant for internal monitoring and reporting by the vendor or a third-party auditor.
- C. They are typically handled directly by the vendors as part of their internal controls.
- D. They are less detailed and too infrequent to be useful in continuous monitoring.
Answer: B
Explanation:
SLA metrics are not included in external continuous monitoring solutions because they are more relevant to internal performance management, usually measured and reported by the vendor itself or a designated third-party, based on specific criteria agreed upon by the involved parties. This makes them less suitable for external monitoring tools that focus on broader and more general aspects of vendor risk and performance.
NEW QUESTION # 117
What does the assignment of a confidentiality level to personal data entail under GDPR?
- A. It only determines how data is stored, without impacting access or processing.
- B. It categorizes data by its creation date for archival purposes only.
- C. It specifies the geographic locations where data can be processed or transferred.
- D. It dictates the degree of access and disclosure allowed based on various factors.
Answer: D
Explanation:
Assigning a confidentiality level to personal data involves determining the degree of access and disclosure permitted based on the data's sensitivity, the consent of the data subjects, the legitimate interests pursued, and applicable legal requirements. This classification helps in applying appropriate security measures and compliance strategies.
NEW QUESTION # 118
Considering a robust cloud hosting vendor assessment, why is it important to verify the procedures for deleting image snapshots?
- A. Reviewing the frequency of security audits conducted on the image snapshot storage systems.
- B. Ensuring that image snapshots are stored in at least three different locations to provide geographic redundancy.
- C. Analyzing the scalability of image snapshot processes to handle increasing data volumes effectively.
- D. Validation that deletion protocols for image snapshots include comprehensive logs and verifiable trails to confirm proper disposal.
Answer: D
Explanation:
Deletion protocols with logs and verification trails are crucial to ensure that when data is deleted, it is irrecoverable, maintaining compliance with data protection regulations and preventing unauthorized data recovery.
NEW QUESTION # 119
Consider a scenario where an organization detects unauthorized access to its network. What initial action should be taken according to NIST guidelines?
- A. Shut down all systems to prevent further unauthorized access
- B. Gather evidence, analyze logs, and interview witnesses to identify the attack's nature and scope
- C. Conduct an immediate company-wide meeting to discuss the incident
- D. Deploy additional security software across the network instantly
Answer: B
Explanation:
In the given scenario, the initial action according to NIST involves gathering evidence, analyzing logs, and interviewing witnesses. This approach is designed to accurately identify the nature and scope of the attack, which is essential for effective containment and mitigation strategies.
NEW QUESTION # 120
Minimum risk assessment standards for third party due diligence should be:
- A. Set by each business unit based on the number of vendors to be assessed
- B. Identified by procurement and required for all vendors and suppliers
- C. Defined in the vendor/service provider contract or statement of work
- D. Established by the TPRM program based on the company's risk tolerance and risk appetite
Answer: D
Explanation:
According to the CTPRP Job Guide, the TPRM program should establish minimum risk assessment standards for third party due diligence based on the company's risk tolerance and risk appetite. This means that the TPRM program should define the scope, depth, frequency, and methodology of the risk assessment process for different categories of third parties, taking into account the potential impact and likelihood of various risks.
The risk assessment standards should be consistent, transparent, and aligned with the company's strategic objectives and regulatory obligations. The TPRM program should also monitor and update the risk assessment standards as needed to reflect changes in the business environment, risk profile, and best practices. The other options are not correct because they do not reflect a holistic and risk-based approach to third party due diligence. Setting the standards by each business unit may result in inconsistency, duplication, or gaps in the risk assessment process. Defining the standards in the contract or statement of work may limit the flexibility and adaptability of the risk assessment process to changing circumstances. Identifying the standards by procurement may overlook the input and involvement of other stakeholders and functions in the risk assessment process. References:
* CTPRP Job Guide, page 17
* Third-Party Risk Management and ISO Requirements for 2022, section "Benefits of Implementing Risk Management"
* Managing third-party risk through effective due diligence, section "Complying with regulators' demands"
* Third-Party Due Diligence Checklist: 3 Essential Steps, section "Step 2: Conduct a Risk Assessment"
NEW QUESTION # 121
You are updating program requirements due to shift in use of technologies by vendors to enable hybrid work.
Which statement is LEAST likely to represent components of an Asset
Management Program?
- A. Each asset should include an organizational owner who is responsible for the asset throughout its life cycle
- B. Assets should be classified based on criticality or data sensitivity
- C. Asset inventories should include connections to external parties, networks, or systems that process data
- D. Asset inventories should track the flow or distribution of items used to fulfill products and Services across production lines
Answer: D
Explanation:
Asset management is the process of identifying, tracking, and managing the physical and digital assets of an organization. An asset management program is a set of policies, procedures, and tools that help to ensure the optimal use, security, and disposal of assets. According to the Shared Assessments CTPRP Study Guide1, an asset management program should include the following components:
* Asset inventories: A comprehensive and accurate list of all assets owned, leased, or used by the organization, including hardware, software, data, and services. Asset inventories should include connections to external parties, networks, or systems that process data, as this may introduce additional risks and dependencies12.
* Asset owners: A clear assignment of roles and responsibilities for each asset, including an organizational owner who is accountable for the asset throughout its life cycle. Asset owners should ensure that assets are properly maintained, updated, secured, and disposed of in accordance with the organization's policies and standards13.
* Asset classification: A consistent and objective method of categorizing assets based on their criticality or data sensitivity. Asset classification helps to determine the appropriate level of protection, monitoring, and testing for each asset, as well as the potential impact of asset loss or compromise1 .
* Asset controls: A set of measures and mechanisms that help to safeguard assets from unauthorized access, use, modification, disclosure, or destruction. Asset controls may include physical, technical, administrative, or contractual means, such as locks, encryption, passwords, policies, or agreements1 .
The statement that is least likely to represent a component of an asset management program is D. Asset inventories should track the flow or distribution of items used to fulfill products and Services across production lines. This statement describes a supply chain management function, not an asset management function. Supply chain management is the process of planning, coordinating, and controlling the flow of materials, information, and services from suppliers to customers. Supply chain management may involve some aspects of asset management, such as inventory control, quality assurance, or vendor risk management, but it is not the same as asset management . Asset management focuses on the assets that the organization owns or uses, not the assets that the organization produces or delivers.
References:
* 1: Shared Assessments. (2020). Certified Third Party Risk Professional (CTPRP) Study Guide.
* 2: ISACA. (2019). COBIT 2019 Framework: Governance and Management Objectives. APO03 Manage enterprise architecture.
* 3: ISO. (2018). ISO/IEC 27001:2018 Information technology - Security techniques - Information security management systems - Requirements. Clause 8.1.2 Asset management roles and responsibilities.
* : NIST. (2013). NIST Special Publication 800-53 Revision 4 Security and Privacy Controls for Federal Information Systems and Organizations. RA-2 Security Categorization.
* : NIST. (2013). NIST Special Publication 800-53 Revision 4 Security and Privacy Controls for Federal Information Systems and Organizations. CM-8 Information System Component Inventory.
* : APICS. (2018). APICS Dictionary, 16th edition. Supply chain management.
* : ISACA. (2019). COBIT 2019 Framework: Governance and Management Objectives. APO13 Manage security.
NEW QUESTION # 122
What principle of third-party risk management is directly addressed by terminating a relationship with a non-compliant vendor?
- A. Ensuring transparency in operations and business relations.
- B. Increasing reliance on technological solutions to monitor compliance.
- C. Streamlining operational efficiency while outsourcing.
- D. Maintaining the integrity and security of the company's data.
Answer: D
Explanation:
Terminating relationships with non-compliant vendors is a core principle of third-party risk management, focusing on preserving data integrity and security, which is fundamental to maintaining company standards and regulatory compliance.
NEW QUESTION # 123
In disaster recovery, the initial step should always be to assess the _______.
- A. scope of data affected
- B. extent of the disruption
- C. scale of financial loss
- D. number of affected customers
Answer: B
Explanation:
Understanding the extent of the disruption is essential as the initial step in disaster recovery. This knowledge allows the organization to effectively allocate resources and prioritize recovery actions based on the most critical areas of impact.
NEW QUESTION # 124
Which statement is TRUE regarding the onboarding process far new hires?
- A. it is not necessary to have employees, contractors, and third party users sign confidentiality or non-disclosure agreements
- B. New employees and contractors should not be on-boarded until the results of applicant screening are approved
- C. New employees and contactors can opt-out of having to attend security and privacy awareness training if they hold existing certifications
- D. All job roles should require employees to sign non-compete agreements
Answer: B
Explanation:
The onboarding process for new hires is a key part of the third-party risk management program, as it ensures that the right people are hired and trained to perform their roles effectively and securely. One of the best practices for onboarding new hires is to conduct applicant screening, which may include background checks, reference checks, verification of credentials, and assessment of skills and competencies. Applicant screening helps to identify and mitigate potential risks such as fraud, theft, corruption, or data breaches that may arise from hiring unqualified, dishonest, or malicious individuals. Therefore, it is important to wait for the results of applicant screening before onboarding new employees and contractors, as this can prevent costly and damaging incidents in the future.
The other statements are false regarding the onboarding process for new hires. It is necessary to have employees, contractors, and third-party users sign confidentiality or non-disclosure agreements, as this protects the company's sensitive information and intellectual property from unauthorized disclosure or misuse.
Non-compete agreements may not be required for all job roles, as they may limit the employee's ability to work for other companies or in the same industry after leaving the current employer. They may also be subject to legal challenges depending on the jurisdiction and the scope of the agreement. Security and privacy awareness training is essential for all new employees and contractors, regardless of their existing certifications, as it educates them on the company's policies, procedures, and standards for protecting data and systems from cyber threats. It also helps to foster a culture of security and compliance within the organization. References:
* 5 Steps to Effective Third-Party Onboarding
* Using a third-party onboarding tool to address new challenges in third-party risk
* Onboarding and terminating third parties
* CTPRP Job Guide
NEW QUESTION # 125
What is essential to verify when assessing a vendor with network access to ensure security?
- A. That the vendor's staff are trained in the organization's internal processes.
- B. That they use the most advanced technology, regardless of compatibility.
- C. That their services are the cheapest available to reduce costs.
- D. That their security controls meet the organization's standards.
Answer: D
Explanation:
When a vendor has network access, it's essential to verify that their security controls are aligned with the organization's standards to maintain a consistent security posture and prevent potential breaches.
NEW QUESTION # 126
What is the primary factor for classifying personal data under the GDPR?
- A. The number of data subjects affected.
- B. The duration for which the data is stored.
- C. The geographical location where the data is processed.
- D. The nature and context of the data.
Answer: D
Explanation:
Under GDPR, personal data is classified primarily based on its nature and context, which means understanding what the data is about and how it is used, rather than how much data there is. This approach focuses on the qualitative aspects of data which are more critical to determining the appropriate security measures.
NEW QUESTION # 127
A company's contract with a vendor includes clauses on data breach notification. What should be detailed in these clauses?
- A. Details about the compensation the vendor owes the organization after a breach.
- B. Procedures for notifying relevant parties, timelines, and information sharing.
- C. Vendor's commitment to confidentiality and the timeline for deleting sensitive data.
- D. The specific security technologies that the vendor should use following a breach.
Answer: B
Explanation:
Clauses related to data breach notification in contracts should detail the procedures for notifying relevant stakeholders, define the timelines for such notifications, and describe what information must be shared. This ensures a coordinated and timely response that complies with legal and contractual obligations.
NEW QUESTION # 128
An effective Asset Management program ensures proper ________ of sensitive data from physical media.
- A. Upgrading
- B. Disposal
- C. Recycling
- D. Maintenance
Answer: B
Explanation:
Disposal is emphasized in Asset Management to ensure sensitive data is completely removed or destroyed from physical media, preventing unauthorized access and maintaining data confidentiality and integrity.
NEW QUESTION # 129
Which type of external event does NOT trigger an organization ta prompt a third party contract provisions review?
- A. Change in regulations
- B. Business continuity event
- C. Data breach/privacy incident
- D. Change in company point of contact
Answer: D
Explanation:
A change in company point of contact does not necessarily trigger an organization to prompt a third party contract provisions review, unless the contract specifically requires such a notification or approval. A change in company point of contact may affect the communication and relationship between the parties, but it does not affect the legal terms and obligations of the contract. However, other types of external events, such as business continuity events, data breaches/privacy incidents, and changes in regulations, may have a significant impact on the performance, compliance, and risk of the contract, and therefore may require a review of the contract provisions to ensure that they are still valid, enforceable, and aligned with the parties' expectations and objectives. For example, a business continuity event may disrupt the delivery of goods or services, a data breach/privacy incident may expose confidential or personal information, and a change in regulations may impose new obligations or liabilities on the parties. These events may trigger clauses such as force majeure, termination, indemnification, or dispute resolution, and may require the parties to renegotiate or amend the contract accordingly. References:
* Third-Party Contract Reviews: Determining Your Best Options
* Third party contracts: best practices for third party paper
* What to Look For When Reviewing Third-Party Contracts
* CTPRP Job Guide
NEW QUESTION # 130
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