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Ccep glossary of compliance terms with verified solutions 2024
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Ccep glossary of compliance terms with verified solutions 2024
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CCEP: Set 11. A company uses 5,000 third parties to accomplish business tasks. Which
of the following steps should the compliance and ethics professional take to
require third parties to comply with the company's ethics and compliance
standards?
A. Read the third party's code of conduct.
B. Include the standards in the third-party contract.
C. Conduct due diligence on the third party.
D. Communicate the standards to the third part: B. Include the standards in
the third-party contract.
2. When auditing compliance issues, the person must be
A. external.
B. an internal auditor.
C. certified.
D. independent: D. independent
3. Which of the following is the MOST effective way a compliance and ethics
professional can evaluate compliance and ethics audit findings?
A. Investigate only those allegations received from mid-level management.
B. Conduct trend analysis on identified risk areas and benchmark results
against industry standards.
C. Track the number of sexual harassment allegations received by HR that
are substantiated.
D. Review the number of hotline calls received and provide the
information to the CFO: B. Conduct trend analysis on identified risk areas and
benchmark results against industry standards.
4. After an internal investigation, a plant manager is found to have willfully
disregarded environmental regulations to reach production goals. HR and the
plant manager's supervisor agree that the plant manager should be
terminated. After a month, the plant manager has not been terminated. Which
of the following should be the compliance and ethics professional's FIRST
action? A. Terminate the plant manager immediately.
B. Remind the supervisor that he agreed to terminate the plant manager.
C. report the lack of disciplinary action to the board of directors.
D. Require HR to terminate the plant manager: D. Require HR to terminate the
plant manage
, CCEP: Set 1
5. Question: 8 A risk assessment indicated that finance and purchasing
were high-risk areas. Subsequent risk assessments focused only on these
departments. A routine audit identified that employees in a different
department violated the company's policies and procedures. Future risk
assessments should be done
A. across the entire organization.
B. on an as-needed basis throughout the organization.
C. randomly throughout the organization.
D. on a priority basis within the organization.: D. on a priority basis within the
organization.
6. An HR director owns several pieces of rental property close to
corporate headquarters. As part of the new-hire package, a list of rental
properties, including the HR director's properties, is provided to new
employees. To determine whether the inclusion of the HR director's
properties on this list is appropriate, the compliance and ethics
professional should FIRST A. require the properties be removed from the
list.
B. evaluate if the rent is competitive.
C. discuss the issue with senior leadership.
D. review the conflict of interest policy.: D. review the conflict of interest policy.
7. A compliance and ethics professional (CEP) discovers a new hire is the
nephew of one of the company's directors. The director is the
chairperson of the compensation committee. When the CEP asks the CEO
if he was aware of this situation, the CEO explains that the new hire is the
"best in the business." Which of the following should the CEP do FIRST?
A. Monitor the new hire's performance to ensure that the employee is as
valuable as promised.
B. Review the conflict of interest policy to determine if an action plan is
necessary.
C. Research the new hire's credentials to determine if he is the most
qualified.
D. Revise the corporate code of conduct to reflect the CEO's decision.: B.
Review the conflict of interest policy to determine if an action plan is necessary.
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