CCEP exam (Compliance) 2025
Questions and Answers 100% Pass
Solution
What are the 7 elements of a Compliance Program? - ANSWER>>1.
Standards of Conduct/Policies and Procedures, 2. Compliance Officer
and Compliance Committee, 3. Education/Training, 4.
Monitoring/Auditing, 5. Reporting and Investigating, 6. Enforcement
and Discipline, 7. Response and Prevention
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? - ANSWER>>Investigate to verify
the allegation
Which of the following is the MOST effective way a compliance and ethics
professional can evaluate compliance and ethics audit findings? -
ANSWER>>Conduct trend analysis on identified risk areas and benchmark
results against industry standards
Which of the following BEST describes the primary role of people of a
compliance and ethics professional? - ANSWER>>Promotes a culture of
compliance and ethics throughout the organization
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 -
ANSWER>>Conduct a compliance and ethics risk assessment
An employee discloses that a supervisor has been verbally abusive. 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.
Counsel advises that no report be written because of possible litigation.
The compliance and ethics professional's BEST course of action is to... -
ANSWER>>Ask counsel to prepare the written report
Which of the following is the BEST outcome of a compliance and ethics
program? - ANSWER>>Mitigating risk
A compliance and ethics professional receives an anonymous complaint
that an employee is receiving gifts from a vendor. An investigation finds the
employee is not in violation of the current gift policy and the policy has not
been reviewed in five years. Which of the following is the compliance and
ethics professional's MOST appropriate action? - ANSWER>>Benchmark
, for vendor relation best practices
A problem was found in a routine accounting audit. Corrective action was
taken and the policies and procedures were updated. Which of the
following is the next step in the audit process?
A) Report findings to the board of directors
B) Prepare the final summary and storage of the audit results
C) Review the process after a period of time to determine if the problem is
resolved
D) Conduct a risk assessment to identify other possible issues. -
ANSWER>>Review the process after a period of time to determine if the
problem is resolved.
What is the first step in the audit process? - ANSWER>>Identify a problem
What is the second step in the audit process? - ANSWER>>Take
corrective action
What is the third step in the audit process? - ANSWER>>Update policies &
procedures
What is the fourth step in the audit process? - ANSWER>>Communicate
changes(s) to affected parties
What is the last step in the audit process? - ANSWER>>Review process
and documentation after a period of time to ensure success.
If in the course of their work, CEPs become aware of any decision by their
employing organization which, if implemented, would constitute
misconduct, the professional shall:
Questions and Answers 100% Pass
Solution
What are the 7 elements of a Compliance Program? - ANSWER>>1.
Standards of Conduct/Policies and Procedures, 2. Compliance Officer
and Compliance Committee, 3. Education/Training, 4.
Monitoring/Auditing, 5. Reporting and Investigating, 6. Enforcement
and Discipline, 7. Response and Prevention
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? - ANSWER>>Investigate to verify
the allegation
Which of the following is the MOST effective way a compliance and ethics
professional can evaluate compliance and ethics audit findings? -
ANSWER>>Conduct trend analysis on identified risk areas and benchmark
results against industry standards
Which of the following BEST describes the primary role of people of a
compliance and ethics professional? - ANSWER>>Promotes a culture of
compliance and ethics throughout the organization
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 -
ANSWER>>Conduct a compliance and ethics risk assessment
An employee discloses that a supervisor has been verbally abusive. 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.
Counsel advises that no report be written because of possible litigation.
The compliance and ethics professional's BEST course of action is to... -
ANSWER>>Ask counsel to prepare the written report
Which of the following is the BEST outcome of a compliance and ethics
program? - ANSWER>>Mitigating risk
A compliance and ethics professional receives an anonymous complaint
that an employee is receiving gifts from a vendor. An investigation finds the
employee is not in violation of the current gift policy and the policy has not
been reviewed in five years. Which of the following is the compliance and
ethics professional's MOST appropriate action? - ANSWER>>Benchmark
, for vendor relation best practices
A problem was found in a routine accounting audit. Corrective action was
taken and the policies and procedures were updated. Which of the
following is the next step in the audit process?
A) Report findings to the board of directors
B) Prepare the final summary and storage of the audit results
C) Review the process after a period of time to determine if the problem is
resolved
D) Conduct a risk assessment to identify other possible issues. -
ANSWER>>Review the process after a period of time to determine if the
problem is resolved.
What is the first step in the audit process? - ANSWER>>Identify a problem
What is the second step in the audit process? - ANSWER>>Take
corrective action
What is the third step in the audit process? - ANSWER>>Update policies &
procedures
What is the fourth step in the audit process? - ANSWER>>Communicate
changes(s) to affected parties
What is the last step in the audit process? - ANSWER>>Review process
and documentation after a period of time to ensure success.
If in the course of their work, CEPs become aware of any decision by their
employing organization which, if implemented, would constitute
misconduct, the professional shall:
