CTPRP Vendor Practice Questions

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

• AA. Accepting a service providers self-assessment questionnaire responses
• BB. Preparing reports to management regarding the status of third party risk management and remediation activities
• CC. Reviewing a service provider's self-assessment questionnaire and external audit report(s)
• DD. Requesting and filing a service provider's external audit report(s) for future reference

Which requirement is the MOST important for managing risk when the vendor contract terminates?

• AA. The responsibility to perform a financial review of outstanding invoices
• BB. The commitment to perform a final assessment based upon due diligence standards
• CC. The requirement to ensure secure data destruction and asset return
• DD. The obligation to define contract terms for transition services