Third-party vendors Quiz

1. What is the first step to ensure third and fourth-party vendor safety?

A. Define the Scope of Work and Responsibilities B. Conduct Regular Audits C. Implement a Vendor Management Program

2. Why is it important to establish performance metrics and KPIs for vendors?

A. To increase vendor costs B. To assess vendor efficiency and effectiveness C. To eliminate the need for contracts

3. What should be included in a clear contractual agreement with vendors?

A. Vendor's favorite color B. Details of the scope of work, deadlines, and payment terms C. The vendor's office location

4. What is a key component of a vendor management program?

A. A comprehensive risk management strategy B. A list of all vendors in the industry C. A detailed marketing plan

5. What is an important measure to protect sensitive data from potential breaches?

A. Using secure communication channels B. Sharing passwords with all employees C. Allowing unrestricted access to data

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