CERTIFIED COMPLIANCE AND ETHICS AND ETHICS
PROFESSIONAL (CCEP) 2023-2024 CERTIFICATION EXAM
300 QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+
According to the Sarbanes-Oxley Act, which of the following corporate
employees can be employed by a corporation’s audit firm during the 1-
year period preceding an audit?
A.) CEO
B.) Controller
C.) Chief Accounting Officer
D.) Compliance and Ethics Professional
D.) Compliance and Ethics Professional
Which of the following departments in a large drug manufacturing
company is MOST likely to have the highest risk of non-compliance?
A.) Transportation
B.) Customer service
D.) Compliance and Ethics Professional
D.) Repair and Maintenance
c.) Compliance and Ethics Professional
A compliance and ethics professional should be perceived as the
company’s:
A.) Legal resource
B.) Ethical conscience
C.) Employee champion
D.) Enforcement authority
B.) Ethical conscience
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
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
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
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
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
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
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
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
C.) Consult the legal department for advice on applicable privacy laws
to ensure compliance
Adherence to the compliance and ethics program should be incorporated
as an element in evaluations of supervisors who: