CCEP Set 2 Exam With 100% Correct And Verified Answers 2024, Exams of Advanced Education

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CCEP Set 2 Exam With 100% Correct

And Verified Answers 2024

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 - Correct Answer-C. Call a higher authority to request immediate intervention. 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 - Correct Answer-A. maintenance of standards and procedures. 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. - Correct Answer-C. Interview the employee regarding his actions. A compliance and ethics professional (CEP) receives a call from an employee 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. C. Require the finance department to destroy all records immediately. D. Discuss the document destruction practices with the director of finance. - Correct Answer-D. Discuss the document destruction practices with the director of finance. To have an effective program, a compliance and ethics professional must provide training to all employees and A. the company's highest authority. B. external auditors.

C. high-value customers. D. majority shareholders - Correct Answer-A. the company's highest authority. An effective organizational code of conduct should include A. where to seek help and clarification when in doubt. B. a requirement for an annual baseline audit. C. a list of officers and directors. D. periodic compliance training. - Correct Answer-A. where to seek help and clarification when in doubt. A compliance and ethics professional is asked to provide the company's board of directors with a quarterly compliance report. Which of the following should the report include? 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 - Correct Answer-D. specific details regarding all compliance training and education Which of the following tools would BEST help to prioritize potential compliance problems? A. interview B. survey C. company policy D. risk matrix - Correct Answer-D. risk matrix 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 - Correct Answer-A. discuss the payment request with a supervisor. Disciplinary actions for violation of company policies should be documented when A. resulting in employee termination. B. required by law or regulation. C. such action is taken. D. directed by legal counsel - Correct Answer-C. such action is taken. The MOST appropriate factor in determining the level of resources necessary 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. - Correct Answer-B. size of the organization. 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. B. Seek assistance from the audit committee. C. Ask the department director to complete the audit. D. Reschedule the audit to meet the department's needs. - Correct Answer-A. Discuss the concern with the department director. The CFO of a public company goes on a trip paid for by a prospective vendor in violation of company policy. The CFO is a member of the committee selecting a new vendor. Which of the following is the compliance and ethics professional's MOST appropriate recommendation? A. Remove the CFO from the vendor selection process. B. ignore the issue since it was a one-time event. C. Tax the CFO for the value of the trip. D, Report the CFO to law enforcement officials - Correct Answer-A. Remove the CFO from the vendor selection process. A compliance and ethics professional (CEP) leads a compliance and ethics committee that includes senior executives from different departments. Which of the following is a key responsibility of the CEP? A. Ensure the objectives of the committee are implemented. B. Hire an external auditor to ensure committee independence. C. Share oversight committee meeting minutes with counsel. D. Report gaps in committee oversight to the CEO. - Correct Answer-A. Ensure the objectives of the committee are implemented. 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 - Correct Answer- D. Educate corporate leadership on compliance and ethics standards 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 manipulate the system. D. Implement processes to remove the related employees from their positions - Correct Answer-B. Determine if an HR policy has been violated. 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 - Correct Answer-D. Adequate procedure An audit manager is preparing to conduct are internal assessment regarding 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 - Correct Answer-B. Conducting employee interviews A compliance and ethics professional recognizes that the compliance and ethics programs should be updated because of new industry regulations, global expansions, and new technology for training and monitoring. The necessary changes will be costly. Which of the following will be MOST important in making these changes to the program? A. the organization's department managers B. the organization's compliance and ethics committee C. an external compliance ethics consultant D. industry associations - Correct Answer-B. the organization's compliance and ethics committee Which of the following is essential for an effective code of conduct? A. targeted to senior management B. incorporated in committee meetings C. supported by the company's highest authority D. included in company policies - Correct Answer-C. supported by the company's highest authority Compliance and ethics education for an organization should be divided into which of the following two categories? A. administrative and professional B. managers and supervisors C. internal and external D. general and specific - Correct Answer-D. general and specific

Upon completion of an internal investigation, an organization's misconduct 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 occurred - Correct Answer-D. Collaborate with the legal department to determine if a violation has occurred 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. - Correct Answer-C. implement the plan. 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. - Correct Answer-D. Ensure that compliance and ethics violations are handled consistently. Which of the following should a compliance and ethics professional communicate 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 - Correct Answer-B. information on emerging risk areas A compliance and ethics professional (CEP) receives a hotline call indicating 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. B. invoice the WP for the color copies. C. Initiate a fact-finding investigation. D. ignore the allegation completely - Correct Answer-C. Initiate a fact-finding investigation. Several employees complained to the compliance and ethics professional that no action was taken by their supervisors when they raised compliance issues. The complainants felt they were treated negatively after initially raising these issues. Which of the following is the MOST effective way to address these concerns?

A. inform the employees that the supervisors will be counseled. B. Advise the employees to contact legal counsel. C. Establish a confidential employee reporting mechanism. D. Provide training for the employees on compliance issues - Correct Answer-C. Establish a confidential employee reporting mechanism. An organization's compliance and ethics program has been in place for three years. No reports have been presented to the board of directors. The compliance and ethics professional (CEP) is asked to make the first presentation on the program to the board. Which of the following is the CEP's BEST strategy for handling this request? A. Present a brief slideshow summarizing the past year. B. Suggest making the presentation to the executive committee. C. Provide materials for the board to review after the presentation. D. Educate the board on their oversight responsibility - Correct Answer-D. Educate the board on their oversight responsibility A member of the company's international sales team meets with the compliance and ethics professional (CEP) to discuss a new program to increase sales to other countries. The sales representative explains that she was directed 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 - Correct Answer-D. Ask in house legal counsel to participate in the discussion An employee raises a complaint regarding misconduct. Which of the following 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 - Correct Answer-D. Ensure periodic follow-up communications occur with the employee 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 - Correct Answer-A. Report misconduct to the company