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Testing CTPRP Center | CTPRP Test Preparation

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Shared Assessments Certified Third-Party Risk Professional (CTPRP) Sample Questions (Q218-Q223):

NEW QUESTION # 218
Which component defines the roles, responsibilities, and communication channels for managing information security incidents?

A. Definition of internal escalation processes
B. Implementation of security controls and monitoring systems
C. Deployment of emergency response teams
D. Assignment of technical teams and tools

Answer: A

Explanation:
The correct answer focuses on the definition of internal escalation processes, which are crucial for ensuring clear roles, responsibilities, and communication channels during an incident, enabling efficient and coordinated incident management.

NEW QUESTION # 219
How should organizations prioritize regulations within their Third-Party Risk Management (TPRM) programs?

A. By focusing solely on industry-specific standards
B. By applying the most recently updated regulations only
C. By identifying regulations that extend specific obligations to service providers
D. By evaluating their impact on international operations

Answer: A

Explanation:
The best method for prioritizing regulations in TPRM programs is by identifying those that specifically extend obligations to third-party service providers. This approach ensures that the most critical and relevant regulatory requirements are met, effectively managing risk exposure.

NEW QUESTION # 220
What is the fundamental purpose of maintaining an accurate inventory of hardware and devices in an Asset Management Program?

A. To enhance the performance metrics of technology used
B. To maximize the utilization of each asset in the company
C. To minimize the cost of asset maintenance and repairs
D. To ensure all assets are properly accounted for and monitored

Answer: D

Explanation:
Maintaining an accurate inventory is essential to ensure all assets are accounted for and monitored, which supports the security, compliance, and operational integrity of the organization. This is fundamental to the Asset Management Program's goal of minimizing risks associated with asset mismanagement.

NEW QUESTION # 221
When assessing a potential outsourcing agreement for IT services, which step is crucial for effective risk transfer?

A. Conducting thorough due diligence on the third-party provider
B. Creating a joint venture with another firm to share risks
C. Regularly updating and patching software systems internally
D. Establishing a contingency fund to cover unexpected risks

Answer: A

Explanation:
Conducting thorough due diligence is critical in risk transfer arrangements like outsourcing IT services to ensure that the third party can adequately manage and mitigate the transferred risks.

NEW QUESTION # 222
Organizations may rely predominantly on the vendor's _______ responses for due diligence with lower risk vendors.

A. detailed risk analysis
B. comprehensive performance review
C. annual compliance certification
D. self-assessment questionnaire

Answer: D

Explanation:
Utilizing the vendor's self-assessment questionnaire responses is a standard and efficient approach for conducting due diligence on lower risk vendors, providing a balance between thoroughness and resource allocation.

NEW QUESTION # 223
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