Certified Compliance And Ethics Professional (CCEP) Certification Study Resources (Complete 50 Q&A)

Certified Compliance And Ethics Professional (CCEP) Certification Study Resources (Complete 50 Q&A)

A compliance and ethics professional is auditing the organization's compliance with the Sarbanes-Oxley Act. Which of the following audit findings indicates a violation?

A.) The public accounting firm providing audit services has had the same audit partner reviewing the audits for the past 6 years.

B.) The previous public accounting firm was the past employer of the company's current controller who participated in an audit 4 years ago.

C.) The previous public accounting firm is providing bookkeeping related to the accounting records and financial statements that they once audited.

D.) The public accounting firm providing audit services has been contracted

[Correct Ans: - A.) The public accounting firm providing audit services has had the same audit partner reviewing the audits for the past 6 years.

Under In re Caremark Int'l., the basic fiduciary duty of care principle is characterized as acting in good faith with:

A.) Reasonable care of management under similar circumstances

B.) Reasonable care of an organization under similar circumstances

C.) The care of an ordinary prudent person under similar circumstances

D.) The care of another compliance and ethics professional under similar circumstances

[Correct Ans: - C.) The care of an ordinary prudent person under similar circumstances

Which of the following BEST describes the primary role of a compliance and ethics professional?

A.) Ensures that risks are appropriately prioritized

B.) Performs background checks on new employees

C.) Includes compliance and ethics questions in exit interviews

D.) Promotes a culture of compliance and ethics throughout the organization [Correct Ans: - D.) Promotes a culture of compliance and ethics throughout the organization

Which of the following is a key component of a compliance and ethics program?

A.) On-going training

B.) Employee surveys

C.) Monthly employee meetings

D.) Company newsletter [Correct Ans: - A.) On-going training

A CFO discovers the CEO is using company funds for personal expenses. The CFO buried this information in the company's financial reports. The compliance and ethics professional learns of the situation through the company's hotline. Which of the following should be the compliance and ethics professional's FIRST response?

A.) Retain outside counsel

B.) Recommend suspension of the CEO

C.) Investigate to verify the allegation

D.) Disclose the issue and terminate the CEO [Correct Ans: - C.) Investigate to verify the allegation

A compliance structural policy differs from a substantive policy in that a structural policy should:

A.) Describe the risk areas to the organization

B.) Describe how to operate within the regulations

C.) Define the regulations that apply to the organization

D.) Define the framework the program should operate within [Correct Ans: - D.) Define the framework the program should operate within

According to the Federal Sentencing Guidelines, "substantial authority personnel" MOST likely refers to the:

A.) Production line manager

B.) Purchasing supervisor

C.) Internal audit secretary

D.) HR benefits associate [Correct Ans: - B.) Purchasing supervisor

HR asks the compliance and ethics professional if the company can provide a vendor with names and e-mail addresses of the company's sales employees to promote a new incentive plan. Some of the employees live and work outside the U.S. Which of the following is the MOST appropriate action for the compliance and ethics professional to take?

A.) Direct human resources to comply with the vendor's privacy policies B.) Ask the vendor to sign a confidentiality agreement before providing the information

C.) Consult the legal department for advice on applicable privacy laws to ensure compliance

D.) Instruct HR not to provide the information because it would violate international privacy laws [Correct Ans: - C.) Consult the legal department for advice on applicable privacy laws to ensure compliance