Exam (elaborations)
CCEP: SET 3 QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
- Course
- Institution
CCEP: SET 3 QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
[Show more]
Content preview
CCEP: SET 3 QUESTIONS ANDANSWERS WITH SOLUTIONS 2024
An organization has just accepted a new business line with plants in Germany and France. The CEO has
asked the compliance and ethics professional (CEP) to evaluate the compliance program to determine
the impact of this change. Which of the following should the CEP consider when evaluating the
company's compliance hotline?
A. Foreign Corrupt Practices Act
B. EU Privacy Directive
C. OECD Convention on Bribery
D. Bank Secrecy Act - ANSWER B. EU Privacy Directive
The audit committee has asked the compliance and ethics professional (CEP) to include a review of the
commissions for the sales force in the action plan for the next fiscal year. The risk assessment did not
show this as a significant risk area. Which of the following actions should the CEP do FIRST?
A. Revise the risk assessment to increase the significance of the concern.
B. Gather information to determine the priority of this risk. C. Add the commission concern as the first
risk area to be addressed.
D. Ask the CEO to present the issue to the full board of directors. - ANSWER C. Add the commission
concern as the first risk area to be addressed.
A compliance and ethics professional should FIRST ensure that risks are
A. Eliminated
B. Prioritized
C. Avoided
D. Deferred - ANSWER B. Prioritized
Which of the following is an essential element of a risk assessment?
A. Provide training
B. Ensure proper discipline.
C. Review number of hotline calls
D. Interview managers - ANSWER D. Interview managers
, A compliance and ethics professional determines that corporate travel expense reports are filled with
mistakes. Which of the following is the BEST way to address this problem? t
A. Hold mandatory training for all employees required to travel.
B. Recommend termination of employees who submit incorrect expense reports.
C. Hyperlink the policy to the internal corporate compliance website.
D. Send an email to all employees repeating corporate policy on this matter - ANSWER A. Hold
mandatory training for all employees required to travel.
A compliance and ethics work plan should be developed:
A. Based upon a risk assessment.
B. By legal counsel
C. With oversight by internal audit.
D. At least quarterly - ANSWER A. Based upon a risk assessment.
Because of the changes in management and acquisitions, a company has gone from being a domestic
manufacturing business to a global services business. The board of directors has revised the company's
mission, vision and values to reflect these changes in operations. Which of the following should the
compliance and ethics professional do FIRST?
A. Conduct an operational audit.
B. Perform a risk assessment
C. Determine staffing requirements
D. Develop new training - ANSWER B. Perform a risk assessment
A compliance and ethics professional (CEP) directly reports to the compliance and audit committee of
the board with an indirect report to the CEO. The predominant expertise of the new board members is in
finance, and they have recommended that the compliance budget for training, external audits, and legal
expense be reduced significantly. Which of the following is the BEST response by the CEP?
A. Request reconsideration of the reduction
B. Reformulate the budget to present at the next board meeting.
C. Educate the board on their oversight responsibility.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Performance. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78140 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now