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HCCA Basic Academy Study Guide Questions And Answers With Verified Solutions 100% Correct!!!
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HCCA Basic Academy Study GuideQuestions And Answers With Verified
Solutions 100% Correct!!!
Why develop a Compliance Program? - ANSWER✔✔- Promotes a culture of
ethical behavior and commitment to compliance with the law
- Aids in preventing and detecting wrong-doing
- Provides "safe" mechanisms for reporting and seeking help in getting it right the
first time
- Raises awareness of organizations expectations
- Positive impact on corporate reputation/culture; public image
When did the US Federal Sentencing Guidelines come into effect? -
ANSWER✔✔November 1, 1991
What does the US Federal Sentencing Guidelines deal in? - ANSWER✔✔Control
sentencing of organizations for most federal criminal violations and sentencing
credit for "effective programs to prevent and detect violations of law"
When were the US Federal Sentencing Guidelines first amended? -
ANSWER✔✔November 1, 2004
What were the key recommendations in the 2004 amendment of the Federal
Sentencing Guidelines? - ANSWER✔✔- "Culture" of ethics and compliance
- Defining ethics and compliance standards and procedures
- Spelling out compliance obligations
- Adequate resources
- Clarifying employee screening practices
- Training as an essential element
- Means for anonymous reporting
- Ongoing risk assessment
When were the US Federal Sentencing Guidelines amended again? -
ANSWER✔✔November 1, 2010
What was expanded in the 2010 amendment of the Federal Sentencing Guidelines?
- ANSWER✔✔An organization's eligibility for reduced culpability if it has an
effective program. Determined by its effectiveness in detecting criminal conduct
,and an enhanced autonomy for compliance personnel. Corporations may receive
credit for meeting these requirements during sentencing.
What must a Compliance Program do to be effective in detecting criminal
conduct? - ANSWER✔✔- Must detect the offense before its discovery outside the
organization or before such discovery was reasonably likely.
- The organization must promptly report the offense to the proper government
authorities.
- No persons with operational responsibility in the program participated in,
condoned, or were willfully ignorant of the offense.
How can a Compliance Program enhance autonomy for compliance personnel? -
ANSWER✔✔- Direct reporting channel between compliance personnel and the
organization's governing authority
- Express authority for the individual or individuals with operational responsibility
for the compliance and ethics program to communicate personally with the
governing authority. (no less than annually)
Yates Memo - What is the most effective ways to combat corporate misconduct? -
ANSWER✔✔By seeking accountability from the individuals who perpetrated the
wrongdoing. Such accountability is important for several reasons such as:
- Deterring future illegal activity
- Incentivizing changes in corporate behavior
- Ensuring the proper parties are held responsible for their actions
- Promotes the public's confidence in the justice system
What are the seven elements of a Compliance Plan? (Stems from FSG of 1991) -
ANSWER✔✔1. Standards of Conduct, Policies, & Procedures
2. Designating a Compliance Officer and Compliance Committee
3. Communication and education
4. Internal Monitoring and Auditing
5. Reporting and Investigating
6. Enforcement and Discipline
7. Response and Prevention
What tools must a compliance officer have in order to be successful? -
ANSWER✔✔- A reporting structure that is clearly defined (direct to the top with
no buffers)
- Strong leadership
, - Adequate resources and authority
- Access to the Board with periodic reporting responsibilities
- Compliance committees
What is the basis for the elements of a Compliance Plan? - ANSWER✔✔Risk
assessments, but should not be considered the foundation. They are considered
reactive not proactive.
Why conduct a risk assessment? - ANSWER✔✔- Critical activity for the
compliance program development and/or ongoing evolution
- Provides knowledge about culture
- Helps to further define risk intelligence/tolerance of an organization
What steps should be included in a risk assessment process? - ANSWER✔✔-
Identification
- Analysis/Evaluation
- Prioritization
- Mitigation
Standards and Policies must be written in plain language. Define what is meant by
this. - ANSWER✔✔Plain language is clear, succinct writing designed to ensure
the reader understands as quickly and completely as possible. Commonly quoted as
being written at a 6th-grade level.
What is auditing and monitoring based on? - ANSWER✔✔Auditing and
monitoring are based on risk assessments and are scalable to the organization's
risks and resources. They are essential in detecting criminal conduct.
What characteristics should an audit have? - ANSWER✔✔Independent and
Objective. Monitoring can be objective too but not always.
Why are hotlines/helplines considered an essential program resource? -
ANSWER✔✔Essential for reporting potential wrong-doing and/or seeking help
and guidance.
What important qualities should hotlines/helplines have? - ANSWER✔✔-
Anonymous and confidential
- Policy of non-retaliation/non-retribution
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