Free Shared Assessments CTPRP Practice Exam Questions and Answers 2026

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Total 126 Questions | Updated On: Apr 01, 2026

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Question 1

Which statement is TRUE regarding the use of questionnaires in third party risk assessments?

A : The total number of questions included in the questionnaire assigns the risk tier

B : Questionnaires are optional since reliance on contract terms is a sufficient control

C : Assessment questionnaires should be configured based on the risk rating and type of service being evaluated

D : All topic areas included in the questionnaire require validation during the assessment

Answer: C

Question 2

Information classification of personal information may trigger specific regulatory obligations. Which statement is the BEST response from a privacy perspective:

A : Personally identifiable financial information includes only consumer report information

B : Public personal information includes only web or online identifiers

C : Personally identifiable information and personal data are similar in context, but may have different legal definitions based upon jurisdiction

D : Personally Identifiable Information and Protected Healthcare Information require the exact same data protection safequards

Answer: C

Question 3

Which statement BEST reflects the factors that help you determine the frequency of cyclical assessments?

A : Vendor assessments should be conducted during onboarding and then be replaced by continuous monitoring

B : Vendor assessment frequency should be based on the level of risk and criticality of the vendor to your operations as determined by their vendor risk score

C : Vendor assessments should be scheduled based on the type of services/products provided

D : Vendor assessment frequency may need to be changed if the vendor has disclosed a data breach

Answer: B

Question 4

Which type of contract provision is MOST important in managing Fourth-Nth party risk after contract signing and on-boarding due diligence is complete?

A : Subcontractor notice and approval

B : Indemnification and liability

C : Breach notification

D : Right to audit

Answer: A

Question 5

Which of the following BEST describes the distinction between a regulation and a standard?

A : A regulation must be adhered to by all companies subject to its requirements, but companies “can voluntarily choose to follow standards.

B : There is no distinction, regulations and standards are the same and have equal impact

C : Standards are always a subset of a regulation

D : A standard must be adhered to by companies based on the industry they are in, while regulations are voluntary.

Answer: A

Page: 1 / 26

Total 126 Questions | Updated On: Apr 01, 2026

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