Exam (elaborations)
CCEP Compliance And Ethics Professional Exam (To Prepare For CCEP Certification Exam) – Q&A
CCEP Compliance And Ethics Professional Exam (To Prepare For CCEP Certification Exam) – Q&A
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CCEP Compliance And Ethics Professional Exam (ToPrepare For CCEP Certification Exam) – Q&A
These Compliance and Ethics Policies and procedures must exist ✔️Ans -
Non-Retaliation, Record Management, Conflict of Interest, Privacy, Security,
and Confidentiality
What are Compliance Officers required to do? ✔️Ans - Maintain
Compliance and Ethics polices and procedures
When making decisions, C.O. need to.... ✔️Ans - Consult with appropriate
subject matter resources, HR, legal, finance
A main goal of compliance program: ✔️Ans - Assure Alignment between
organization's mission, vision, values, and the code of conduct
A main goal of compliance program is... ✔️Ans - to assure alignment of the
compliance and ethics strategic plan is consistent with overall business
objectives.
A requirement for compliance program is... ✔️Ans - to maintain a code of
conduct
C.O. needs to ensure what? ✔️Ans - Ensure organizational value
statements reflect a committment to a culture of integrity
What else does a CO ensure? ✔️Ans - The policies and procedures address
regulatory and legal requirements.
Policies need to address what? ✔️Ans - Interactions/relationships with
third-parties, like vendors, business partners, and competitors
What else is required in relation to third-parties? ✔️Ans - That
contractual agreements include compliance and ethic standards.
What documentation is required of a compliance plan? ✔️Ans - That the
program is documented, like a compliance manual/outlined plan.
,What else will a compliance program document in regards to risks? ✔️Ans
- That policies and procedures around specific identified risk area are
maintained.
What will a compliance program document in regards to governance policies?
✔️Ans - That the governance policies for the compliance and ethics program
are maintained.
Who does a Compliance Officer report to? ✔️Ans - A board of directors, or
audit committee
What does a compliance officer report and to whom? ✔️Ans - Reports
compliance and ethics activity to the internal governing body, like a board of
directors/audit committee
Who else does a compliance officer report to? ✔️Ans - Gives reports of
compliance and ethics activity to the senior business leader, like the CEO or
CFO
What does the CO coordinate inside the organization? ✔️Ans -
Coordinates the operational aspects of the compliance program with
management, like oversight committee and senior managment.
Benchmarking ✔️Ans - Collaborate with others internally and externally
to institute best practices: what are others doing in their program?
What is the CO responsible for in regards to goals of oversight committee?
✔️Ans - To ensure the goals and objectives of the oversight committee are
achieved.
What knowledge is needed? ✔️Ans - Maintain knowledge of relevant laws
and regulations
How is knowledge of relevant laws used? ✔️Ans - Relevant laws and
regulations are applied to the needs of the organization.
CO assures what about the compliance program? ✔️Ans - That it is
credible and run with integrity.
, What must a CO recognize? ✔️Ans - Recognize the need for outside
expertise.
What does the governing board need to understand? ✔️Ans - Its
responsibilities related to compliance and ethics program and culture.
What does CO need to do in regards to Legal Counsel? ✔️Ans - Make sure
the role of counsel is defined.
What does the CO manage? ✔️Ans - Manages resources for the
compliance and ethics program, like finance and personnel resources.
What should the CO do in regards to the business? ✔️Ans - The CO
integrates the compliance and ethics program into the business.
Annually the CO needs to.... ✔️Ans - Develop an Annual compliance and
ethics work plan.
To manage risks, the CO.... ✔️Ans - ensures the organization has processes
inn place to manage identified risk areas, like conflicts of interest, privacy,
anti-corruption, and anti-bribery.
Compliance is responsible for... ✔️Ans - Background checks and
screenings are done: new hires, substantial authority personnel, third parties,
government lists.
The organization needs to have.... ✔️Ans - defined the authority of the
compliance and ethics professional.
Compliance training includes ✔️Ans - disseminate relevant information
on emerging risk areas.
Compliance and Ethics Information should be... ✔️Ans - communicated
throughout the organization.
Should Compliance Training be general or targeted? ✔️Ans - Targeted per
needs; risk specific, orientation, remedial.
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