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Shared Assessments CTPRP Exam Overview:

Aspect	Details
Exam Name	CTPRP (Certified Third Party Risk Professional) Exam
Exam Cost	$575 USD
Total Time	2 hours
Available Languages	English
Passing Marks	80%

Certified Third-Party Risk Professional (CTPRP) Exam Topics Breakdown

Domain	Percentage	Description
Third-Party Risk Management Fundamentals	20%	Understanding basic concepts and principles of third-party risk.
Program Development and Management	30%	Creating and managing risk programs for third-party relationships.
Risk Assessment and Analysis	25%	Conducting risk assessments and analyzing third-party risks.
Controls, Mitigation, and Monitoring	25%	Implementing controls, mitigation strategies, and monitoring.

Risk management that concentrates on detecting and mitigating risks associated with using third parties is known as third-party risk management (TPRM) (also referred to as vendors, suppliers, partners, contractors, or service providers). The goal of the discipline is to help organizations understand the third parties they work with, how they work with them, and what security measures they have in place.

Scope for the Third-party risk management Certification

A TPRM program's criteria and scope vary greatly based on the organization, industry, regulatory guidelines, and other variables. Nonetheless, a lot of TPRM best practices are cross-industry and fit for any type of company or organization.

Purpose behind designing the CTPRP exam

To facilitate the creation, execution, and administration of TPRM programs, the CTPRP is intended for third-party risk, audit, and Governance, Risk, and Compliance (GRC) responsibilities. These positions include:

• •  Business Vendor Relationship Managers
• •  Governance, Risk, and Compliance Analysts or Managers
• •  Third-Party Risk Analysts
• •  Enterprise Risk Management Managers
• •  IT Risk Analysts
• •  Internal Auditors
• •  IT Procurement or Sourcing Risk Managers
• •  Vendor Risk Management Managers
• •  Operational Risk Analysts or Managers

RULES FOR ELIGIBILITY

You must pass the CTPRP exam and have at least five years of experience working as a risk management professional in a capacity that demonstrates your aptitude for recognizing, controlling, and resolving Third Party risk issues in order to earn the full CTPRP certification.

Exam Outline for CERTIFIED THIRD-PARTY RISK PROFESSIONAL Exam

I. Third Party Risk Management Foundation

• A.  Understanding TPRM Disciplines
• B.  Information Classification and Data Governance
• C.  TPRM and Enterprise Risk Management

II. TPRM Program Design & Structure

• A.  TPRM Program Governance
• B.  Developing TPRM Program Requirements
• C.  Third Party Risk Assessment Process

III. Controls Evaluation in TPRM

• A.  Governance, Risk, and Compliance (GRC)
• B.  Information Protection
• C.  IT Operations & Business Resilience
• D.  Cybersecurity Incident Response & Threat Management

IV. TPRM Program Operations and Implementation

• A.  TPRM Program Execution
• B.  Post-Assessment Reporting and Remediation
• C.  Managing TPRM Program Information and Activities
• D.  Optimizing TPRM Program Operational Performance

Exam Formatting

There are 125 questions in the CTPRP exam, with a maximum score of 140 points. Exam questions measure application of knowledge utilizing Third Party risk scenarios and domain technical expertise. The CTPRP exam is a three-hour timed, closed-book test.

Third Party Risk Role Accountabilities under CTPRP

• •  Takes part in classifying and dividing third parties according to risk, as well as deciding how frequently risk assessments should be conducted.
• •  Organizes the organization's third-party risk identification, assessment, and tracking.
• •  Outlines the criteria for due diligence that should be used in third-party evaluations based on risk rating or classification.
• •  Oversees the management of escalation and communication plans for third party risk governance initiatives.
• •  Actively promotes the organization's overall third party risk management program's coordination and execution.
• •  Keeps an eye on modifications to the regulatory environment to determine pertinent compliance needs
• •  Aids in the management risk acceptance or remediation approval escalation process.
• •  As specified in contracts and third party rules and procedures, partners with business lines to manage third party risk

How to attain CTPRP certificate with highest marks?

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