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Ccep glossary of compliance terms with verified solutions
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Ccep glossary of compliance terms with verified solutions
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Certified Compliance and Ethics Professional (CCEP) CertificationStudy Resources
1. Which of the following BEST describes the purpose of training based
upon risk assessment findings?
A.) Reducing the organization's legal exposure
B.) Educating employees on laws and regulations
C.) Educating the board on the compliance program
D.) Reducing the organization's insurance premiums: A. Reducing the
organization's legal exposure
2. A compliance and ethics professional investigates a report of sexual
harassment. The incident does not constitute sexual harassment, but
reveals the employee's misunderstandings of the harassment policy. Which
of the following should be the FIRST step in a corrective action plan?
A.) Consult outside counsel
B.) Disclose the incident to the EEOC
C.) Provide education and training on the policy
D.) Survey employees' understanding of the policy: C.) Provide education and
training on the policy
3. Which of the following provides guidance for the development of a
compliance program?
A.) Sarbanes-Oxley Act
B.) Federal Sentencing Guidelines
C.) Security and Exchange Commission
D.) Office for Civil Rights: B.) Federal Sentencing Guidelines
4. Which of the following is the BEST outcome of a compliance and ethics
program?
A.) Mitigating risk
B.) Identifying risk
C.) Prioritizing risk
D.) Documenting risk: A.) Mitigating risk
5. Training on price-fixing is MOST important for which of the following
staff?
,A.) Management
B.) Sales
C.) Marketing
D.) Accounting: B.) Sales
6. A compliance and ethics program should include:
1. An employee benefits handbook
2. Document retention guidelines
3. Policies regarding confidentiality
4. A statement about the organization's culture
A.) 1,2, and 3 only
B.) 1, 2, and 4 only
C.) 1, 3, and 4 only
D.) 2, 3, and 4 only: D.) 2, 3, and 4 only
7. A US-based retail company has 250 stores in 30 states. Past compliance
efforts have included a silo-based approach with minimal oversight and the
CEO acting as the Compliance and Ethics Officer. One person in each state
posted compliance-related information sent from corporate, but there were
no actual educational sessions. Policies and procedures were developed by
corporate and reviewed 5 years ago. The organization has decided that a
more dedicated approach is needed and hires a Compliance and Ethics
Officer. Which of the following actions should the new Compliance and Ethics
Officer take FIRST?
A.) Conduct a compliance and ethics risk assessment
B.) Review organization-wide compliance policies
C.) Perform a statistically valid compliance audit
D.) Distribute a compliance training packet to employees: A.) Conduct a
compliance and ethics risk assessment
8. An employee discloses to counsel and the compliance and ethics
professional that a supervisor has been verbally abusive. An investigation
finds that the same supervisor has also been sexually harassing several
employees in his department. The compliance program requires that findings
of harassment be documented and forwarded by the compliance and ethics
professional to the CEO with a recommendation for appropriate discipline.
, Certified Compliance and Ethics Professional (CCEP) Certification
Study Resources
Counsel advises that no report be written because of possible litigation. The
compliance and ethics professional's BEST course of action is to:
A.) Follow counsel's advice
B.) Submit a written report
C.) Ask counsel to prepare the written report
D.) Recommend disciplinary action against counsel: C.) Ask counsel to
prepare the written report
Even though counsel advises to not submit a report Compliance can suggest
alternatives to ensure the compliance program is being followed. By asking counsel
to prepare the written report it is then protected by attorney-client privilege and
follows the compliance program.
9. A compliance and ethics professional is evaluating an organization's
employee handbook. A conflict exists between the Code of Conduct and the
employee handbook. HR is responsible for the employee handbook. The
documents have been approved by the board of directors. Which of the
following actions should the compliance and ethics professional take
FIRST?
A.) Post revised documents on the organization's website
B.) Schedule a time during the next board meeting to present revised docu-
ments
C.) Schedule a meeting with HR, general counsel, and the board to discuss
the issue
D.) Contact HR to determine if the inconsistencies between the documents
can be resolved: D.) Contact HR to determine if the inconsistencies between
the documents can be resolved
Escalate to the lowest level when possible
10. A company's Code of Conduct has not been reviewed for over 2 years.
HR recommended adding content that would double its size. The
compliance committee members expressed concern that adding a
significant amount of content could negatively impact its effectiveness.
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