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  • Exam Name: Certified Third-Party Risk Professional (CTPRP)
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CTPRP Practice Exam Questions with Answers Certified Third-Party Risk Professional (CTPRP) Certification

Question # 6

Your organization has recently acquired a set of new global third party relationships due to M&A. You must define your risk assessment process based on your due diligence

standards. Which risk factor is LEAST important in defining your requirements?

A.

The risk of increased expense to conduct vendor assessments based on client contractual requirements

B.

The risk of natural disasters and physical security risk based on geolocation

C.

The risk of increased government regulation and decreased political stability based on country risk

D.

The financial risk due to local economic factors and country infrastructure

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Question # 7

Which of the following factors is MOST important when assessing the risk of shadow IT in organizational security?

A.

The organization maintains adequate policies and procedures that communicate required controls for security functions

B.

The organization requires security training and certification for security personnel

C.

The organization defines staffing levels to address impact of any turnover in security roles

D.

The organization's resources and investment are sufficient to meet security requirements

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Question # 8

Which statement is TRUE regarding the use of questionnaires in third party risk assessments?

A.

The total number of questions included in the questionnaire assigns the risk tier

B.

Questionnaires are optional since reliance on contract terms is a sufficient control

C.

Assessment questionnaires should be configured based on the risk rating and type of service being evaluated

D.

All topic areas included in the questionnaire require validation during the assessment

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Question # 9

At which level of reporting are changes in TPRM program metrics rare and exceptional?

A.

Business unit

B.

Executive management

C.

Risk committee

D.

Board of Directors

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Question # 10

Which statement is FALSE regarding the primary factors in determining vendor risk classification?

A.

The geographic area where the vendor is located may trigger specific regulatory obligations

B.

The importance to the outsourcer's recovery objectives may trigger a higher risk tier

C.

The type and volume of personal data processed may trigger a higher risk rating based on the criticality of the systems

D.

Network connectivity or remote access may trigger a higher vendor risk classification only for third parties that process personal information

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Question # 11

You are updating the inventory of regulations that impact your TPRM program during the company's annual risk assessment. Which statement provides the optimal approach to

prioritizing the regulations?

A.

identify the applicable regulations that require an extension of specific obligations to service providers

B.

Narrow the focus only on the regulations that directly apply to personal information

C.

Include the regulations that have the greater risk of triggering enforcement or fines/penalties

D.

Emphasize the federal regulations since they supersede state regulations

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Question # 12

Which activity BEST describes conducting due diligence of a lower risk vendor?

A.

Accepting a service providers self-assessment questionnaire responses

B.

Preparing reports to management regarding the status of third party risk management and remediation activities

C.

Reviewing a service provider's self-assessment questionnaire and external audit report(s)

D.

Requesting and filing a service provider's external audit report(s) for future reference

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Question # 13

Which requirement is NOT included in IT asset end-of-life (EOL) processes?

A.

The requirement to conduct periodic risk assessments to determine end-of-life

B.

The requirement to track status using a change initiation request form

C.

The requirement to track updates to third party provided systems or applications for any planned end-of-life support

D.

The requirement to establish defined procedures for secure destruction al sunset of asset

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Question # 14

Which statement is TRUE regarding defining vendor classification or risk tiering in a TPRM program?

A.

Vendor classification and risk tiers are based upon residual risk calculations

B.

Vendor classification and risk tiering should only be used for critical third party relationships

C.

Vendor classification and corresponding risk tiers utilize the same due diligence standards for controls evaluation based upon policy

D.

Vendor classification and risk tier is determined by calculating the inherent risk associated with outsourcing a specific product or service

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Question # 15

Which policy requirement is typically NOT defined in an Asset Management program?

A.

The Policy states requirements for the reuse of physical media (e.9., devices, servers, disk drives, etc.)

B.

The Policy requires that employees and contractors return all company data and assets upon termination of their employment, contract or agreement

C.

The Policy defines requirements for the inventory, identification, and disposal of equipment “and/or physical media

D.

The Policy requires visitors (including other tenants and maintenance personnel) to sign-in and sign-out of the facility, and to be escorted at all times

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Question # 16

Which statement is FALSE regarding analyzing results from a vendor risk assessment?

A.

The frequency for conducting a vendor reassessment is defined by regulatory obligations

B.

Findings from a vendor risk assessment may be defined at the entity level, and are based o na Specific topic or control

C.

Identifying findings from a vendor risk assessment can occur at any stage in the contract lifecycle

D.

Risk assessment findings identified by controls testing or validation should map back to the information gathering questionnaire and agreed upon framework

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Question # 17

Which type of contract provision is MOST important in managing Fourth-Nth party risk after contract signing and on-boarding due diligence is complete?

A.

Subcontractor notice and approval

B.

Indemnification and liability

C.

Breach notification

D.

Right to audit

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Question # 18

The following statements reflect user obligations defined in end-user device policies

EXCEPT:

A.

A statement specifying the owner of data on the end-user device

B.

A statement that defines the process to remove all organizational data, settings and accounts alt offboarding

C.

A statement detailing user responsibility in ensuring the security of the end-user device

D.

A statement that specifies the ability to synchronize mobile device data with enterprise systems

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Question # 19

Information classification of personal information may trigger specific regulatory obligations. Which statement is the BEST response from a privacy perspective:

A.

Personally identifiable financial information includes only consumer report information

B.

Public personal information includes only web or online identifiers

C.

Personally identifiable information and personal data are similar in context, but may have different legal definitions based upon jurisdiction

D.

Personally Identifiable Information and Protected Healthcare Information require the exact same data protection safequards

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Question # 20

Which of the following statements is FALSE regarding a virtual assessment:

A.

Virtual assessment agendas and planning should identify who should be available for interviews

B.

Virtual assessment planning should identify what documentation is available for review prior to and during the assessment

C.

Virtual assessments should be used to validate or confirm understanding of key controls, and not be used simply to review questionnaire responses

D.

Virtual assessments include using interviews with subject matter experts since controls evaluation and testing cannot be performed virtually

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Question # 21

Which statement is FALSE regarding the methods of measuring third party risk?

A.

Risk can be measured both qualitatively and quantitatively

B.

Risk can be quantified by calculating the severity of impact and likelihood of occurrence

C.

Assessing risk impact requires an analysis of prior events, frequency of occurrence, and external trends to analyze and predict the potential of a particular event happening

D.

Risk likelihood or probability is a critical element in quantifying inherent or residual risk

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Question # 22

Which factor is MOST important when scoping assessments of cloud-based third parties that access, process, and retain personal data?

A.

The geographic location of the vendor's outsourced datacenters since assessments are only required for international data transfers

B.

The identification of the type of cloud hosting deployment or service model in order to confirm responsibilities between the third party and the cloud hosting provider

C.

The definition of requirements for backup capabilities for power generation and redundancy in the resilience plan

D.

The contract terms for the configuration of the environment which may prevent conducting the assessment

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Question # 23

Which capability is LEAST likely to be included in the annual testing activities for Business Continuity or Disaster Recovery plans?

A.

Plans to enable technology and business operations to be resumed at a back-up site

B.

Process to validate that specific databases can be accessed by applications at the designated location

C.

Ability for business personnel to perform their functions at an alternate work space location

D.

Require participation by third party service providers in collaboration with industry exercises

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Question # 24

Which type of contract termination is MOST likely to occur after failure to remediate assessment findings?

A.

Regulatory/supervisory termination

B.

Termination for convenience

C.

Normal termination

D.

Termination for cause

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Question # 25

Data loss prevention in endpoint security is the strategy for:

A.

Assuring there are adequate data backups in the event of a disaster

B.

Preventing exfiltration of confidential information by users who access company systems

C.

Enabling high-availability to prevent data transactions from loss

D.

Preventing malware from entering secure systems used for processing confidential information

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Question # 26

Which of the following is NOT an attribute in the vendor inventory used to assign risk rating and vendor classification?

A.

Type of data accessed, processed, or retained

B.

Type of systems accessed

C.

Type of contract addendum

D.

Type of network connectivity

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Question # 27

Which statement provides the BEST example of the purpose of scoping in third party assessments?

A.

Scoping is used to reduce the number of questions the vendor has to complete based on vendor “classification

B.

Scoping is the process an outsourcer uses to configure a third party assessment based on the risk the vendor presents to the organization

C.

Scoping is an assessment technique only used for high risk or critical vendors that require on-site assessments

D.

Scoping is used primarily to limit the inclusion of supply chain vendors in third party assessments

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Question # 28

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

A.

We conduct onsite or virtual assessments for all third parties

B.

We have defined senior and executive management accountabilities for oversight of our TPRM program

C.

We have established vendor risk ratings and classifications based on a tiered hierarchy

D.

We have established Management and Board-level reporting to enable risk-based decisionmaking

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Question # 29

Which statement is TRUE regarding the tools used in TPRM risk analyses?

A.

Risk treatment plans define the due diligence standards for third party assessments

B.

Risk ratings summarize the findings in vendor remediation plans

C.

Vendor inventories provide an up-to-date record of high risk relationships across an organization

D.

Risk registers are used for logging and tracking third party risks

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Question # 30

Which of the following components are typically NOT part of a cloud hosting vendor assessment program?

A.

Reviewing the entity's image snapshot approval and management process

B.

Requiring security services documentation and audit attestation reports

C.

Requiring compliance evidence that provides the definition of patching responsibilities

D.

Conducting customer performed penetration tests

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Question # 31

In which phase of the TPRM lifecycle should terms for return or destruction of data be defined and agreed upon?

A.

During contract negotiation

B.

At third party selection and initial due diligence

C.

When deploying ongoing monitoring

D.

At termination and exit

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Question # 32

Which factor is less important when reviewing application risk for application service providers?

A.

Remote connectivity

B.

The number of software releases

C.

The functionality and type of data the application processes

D.

APl integration

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Question # 33

You receive a call from a vendor that two laptops and a tablet are missing that were used to process your company data. The asset loss occurred two years ago, but was only recently discovered. That statement may indicate that this vendor is lacking an adequate:

A.

Asset Management Program

B.

Physical and Environmental Security Program

C.

Data Loss Prevention Program

D.

Information Security Incident Notification Policy

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Question # 34

Which approach demonstrates GREATER maturity of physical security compliance?

A.

Leveraging periodic reporting to schedule facility inspections based on reported events

B.

Providing a checklist for self-assessment

C.

Maintaining a standardized scheduled for confirming controls to defined standards

D.

Conducting unannounced checks an an ac-hac basis

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Question # 35

When evaluating remote access risk, which of the following is LEAST applicable to your analysis?

A.

Logging of remote access authentication attempts

B.

Limiting access by job role of business justification

C.

Monitoring device activity usage volumes

D.

Requiring application whitelisting

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Question # 36

Which of the following is typically NOT included within the scape of an organization's network access policy?

A.

Firewall settings

B.

Unauthorized device detection

C.

Website privacy consent banners

D.

Remote access

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Question # 37

Which of the following data safeguarding techniques provides the STRONGEST assurance that data does not identify an individual?

A.

Data masking

B.

Data encryption

C.

Data anonymization

D.

Data compression

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