CTPRP Exam | 99 Questions and Answers with complete

third party - entities or persons that work on behalf of the organization but are not its employees, including consultants, contingent workers, clients, business partners, service providers, subcontractors, vendors, suppliers, affiliates and any other person or entity that accessess customer, company confidential/proprietary data and/or systems that interact with that data outsourcer - the entity delegating a function to another entity, or is considering doing so outsourcer - the entity evaluating the risk posed by obtaining services from another entity fourth party/subcontractor - an entity independent of and directly performing tasks for the assessee being evaluated drivers for third party risk assessments - ISO 27002, FFEIC Appendix, OOC Bulletins, FFEIC CAT Tool, PCI Data Security Standard, NIST Cybersecurity Framework, HIPAA/HiTech, EU GDPR different names for third parties - Business Associate, Service Provider, Processor, Person who provides support for the internal operations of the Web site or online service, Third-Party Service Provider Office of the Comptroller of the Currency (OOC) lifecycle framework for third party risk - Planning, Due Diligence and Third Party Selection, Contract Negotiation, Ongoing Monitoring, Termination False - You must determine the third party's ability to satisfy those requirements. - T/F - You can rely on contract requirements to satisfy regulatory requirements for third parties. True - e.g., HIPAA and OFAC - T/F - It is possible to be subject to regulations from different industry sectors False - in many instances state requirements may be more stringent than federal - T/F - Federal regulations always supersede state regulations