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CCEP: SET 2 EXAM QUESTIONS WITH ACCURATE
ANSWERS/VERIFIED
1.A compliance and ethics professional (CEP) is confronted in her office by ten government officials conducting a surprise visit. They demand immediate access to all company documents. Which of the following should the CEP do FIRST? A. Tell them that it is not a compliance matter. B. Request a copy of their official authorization. C. Call a higher authority to request immediate intervention. D. Permit immediate access: C. Call a higher authority to request immediate intervention. 2.Under best practices, an effective compliance and ethics program calls for A. maintenance of standards and procedures. B. risk assessment by an independent consultant. C. annual review by in-house legal counsel.
D. approval by the internal audit department: A. maintenance of standards and procedures. 3.A company offers free bottled water to all employees in pantry locations throughout the building. A security camera tape reveals an employee putting several cases of water in his trunk. The company's policies state that theft of company property will result in immediate termination. Which of the following should the compliance and ethics professional do FIRST? A. Terminate the employee because of the company policy violation. B. Initiate disciplinary action based on the security camera tape. C. Interview the employee regarding his actions. D. Report the matter to local law enforcement.: C. Interview the employee regard- ing his actions. 4.A compliance and ethics professional (CEP) receives a call from an em- ployee in the finance department who is concerned that the company is not complying with document destruction requirements. Which of the following is the CEP's BEST response to the inquiry? A. Ask the employee to identify the law that was violated. B. Inform the employee the issue will be reviewed as time permits.
A. review of key organizational compliance accomplishments B. extensive report on a fraud investigation conducted by counsel C. summary of every call to the company's compliance hotline D. specific details regarding all compliance training and education: D. specific details regarding all compliance training and education 8.Which of the following tools would BEST help to prioritize potential compli- ance problems? A. interview B. survey C. company policy D. risk matrix: D. risk matrix 9.The assistant to a senior manager submitted a reimbursement request for $15,000 of "miscellaneous entertainment expenses." The company's payables clerk determined that the payee is a foreign minister. The clerk should A. discuss the payment request with a supervisor. B. issue reimbursement once receipts are received. C. deny payment of the request and return it to the senior manager.
D. investigate whether expenses were appropriate: A. discuss the payment request with a supervisor. 10.Disciplinary actions for violation of company policies should be docu- mented when A. resulting in employee termination. B. required by law or regulation. C. such action is taken. D. directed by legal counsel: C. such action is taken. 11.The MOST appropriate factor in determining the level of resources neces- sary for an effective compliance and ethics program is the A. geographic location of the company. B. size of the organization. C. composition of the board of directors. D. company's revenue.: B. size of the organization. 12.During the course of conducting a compliance audit, a department director becomes concerned and asks that the audit be stopped. Which of the following should the compliance and ethics professional do FIRST? A. Discuss the concern with the department director.
C. Share oversight committee meeting minutes with counsel. D. Report gaps in committee oversight to the CEO.: A. Ensure the objectives of the committee are implemented. 15.A company issues a new values statement on its website, stating that profitability is the company's top priority. There is no mention of the code of conduct, ethics, or compliance in the statement or elsewhere on the website. Which of the following actions should the compliance and ethics professional take? A. Ask the technology department to remove the statement from the website. B. Publish a separate values statement from the compliance department. C. Modify the code of conduct to reflect the new corporate strategy. D. Educate corporate leadership on compliance and ethics standards: D. Edu- cate corporate leadership on compliance and ethics standards 16.An audit reveals the employment of several relatives in key positions. Which of the following should be the compliance and ethics professional's FIRST step? A. Facilitate a meeting with internal audit, general counsel, and HR to review the qualifications of the employees. B. Determine if an HR policy has been violated.
C. Determine if any of the related employees have worked together to manip- ulate the system. D. Implement processes to remove the related employees from their positions- : B. Determine if an HR policy has been violated. 17.The UK Bribery Act providers a defense if a company has A .A code of conduct B. Compliance goals C. An audit charter D. Adequate procedure: D. Adequate procedure 18.An audit manager is preparing to conduct are internal assessment regard- ing the compliance and ethics program's effectiveness. Which of the following is the MOST effective action to determine awareness of the compliance and ethics program? A. Analyzing board minutes B. Conducting employee interviews C. Distributing customer surveys D. Reviewing hotline calls: B. Conducting employee interviews
A. administrative and professional B. managers and supervisors C. internal and external D. general and specific: D. general and specific 22.Upon completion of an internal investigation, an organization's miscon- duct is suspected of constituting a material violation of law. Which of the following should be the compliance and ethics professional's NEXT step? A. Disclose the violation to the government and board of directors. B. Update the compliance and ethics training plans to cover this misconduct. C. Discipline any employee involved in the misconduct. D. Collaborate with the legal department to determine if a violation has oc- curred: D. Collaborate with the legal department to determine if a violation has occurred 23.During implementation of a corrective action, a compliance and ethics professional should A. conduct a baseline audit. B. monitor for effectiveness. C. implement the plan.
D. self-disclose findings.: C. implement the plan. 24.Which of the following strategies BEST maintains the credibility of a compliance and ethics program? A. Request compliance and ethics staff to report directly to the controller. B. Audit the compliance and ethics program every three years. C. Require lawyers for key positions within the compliance and ethics office. D. Ensure that compliance and ethics violations are handled consistently.: D. Ensure that compliance and ethics violations are handled consistently. 25.Which of the following should a compliance and ethics professional com- municate to employees as part of an effective compliance program? A. compliance committee minutes B. information on emerging risk areas C. number of hotline calls D. compliance industry benchmark data: B. information on emerging risk areas 26.A compliance and ethics professional (CEP) receives a hotline call indicat- ing that a Vice President (VP) of an organization is making color copies for his wife's company. Which of the following should the CEP do FIRST? A. Report the allegation to the board of directors.
C. Provide materials for the board to review after the presentation. D. Educate the board on their oversight responsibility: D. Educate the board on their oversight responsibility 29.A member of the company's international sales team meets with the com- pliance and ethics professional (CEP) to discuss a new program to increase sales to other countries. The sales representative explains that she was di- rected to provide products to local customs agent so the company's shipment would pass through customs more quickly. Which of the following should the CEP do NEXT? A. Instruct the employee to seek outside legal representation. B. Contact the audit committee chair. C. Direct the employee to HR D. Ask in house legal counsel to participate in the discussion: D. Ask in house legal counsel to participate in the discussion 30.An employee raises a complaint regarding misconduct. Which of the fol- lowing steps is MOST appropriate to ensure the company's policy against retaliation is being followed? A. Offer the employee a separation package in exchange for a release of all claims. B. Transfer the employees to a new department.
C. Inform the employee's manager of the complaint. D. Ensure periodic follow-up communications occur with the employee: D. Ensure periodic follow-up communications occur with the employee 31.A vendor notices a company employee offering a bribe to a customer. The vendor should be encouraged to A. Report misconduct to the company B. Report incident to enforcement. C. Refuse to deal with the company employee D. Not report because the vendor is not a company employee: A. Report misconduct to the company
