Question 1

Which of the following is an objective of Vendor Risk Management? (Choose two.)

Options :

A : To help vendors improve their security posture and preparedness

B : To assess and manage the risk from interactions with vendors and third parties

C : To help negotiate the best possible price for a product or service from the vendor

D : To verify that vendors have adequate measures and processes in place to ensure profitability of vendor

Answer: A,B

Question 2

What are some of the purposes of a Vendor Risk Issue? (Choose two.)

Options :

A : Log access-related incidents for the vendor portal

B : Indicate vendors that need further assessment

C : Accept risks identified in the assessment

D : Track remediation of compliance gaps

Answer: B,D

Question 3

In order to evaluate a vendor on a recurring basis, configure a record in this table:

Options :

A : Repeating Surveys

B : Assessment Metric

C : Repeating Assessments

D :

Assessment Metric Type

Correct Answer: C

Answer: C

Question 4

During the Generating Observations phase of the Vendor Risk Assessment, what action might be taken by the Risk Assessor?

Options :

A : Create issues from the assessment if necessary

B : Update the vendor risk score

C : Email the vendor

D : Answer questions the vendor forgot to answer

Answer: A

Question 5

Which of the following are functions of the Vendor Risk Assessor? (Choose three.)

Options :

A : Enable communications across vendors

B : Access completed assessments from vendors

C : Update vendor contract deadlines

D : Create issues for the vendor

E : Create a Primary Contact record for a Vendor

Answer: A,D