CCEP Exam (Compliance) 128 Quizzes with Certified Ans
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CCEP
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CCEP
CCEP Exam (Compliance) 128 Quizzes with Certified Ans
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. Enfo...
CCEP Exam (Compliance) 128 Quizzes with
Certified Ans
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
Sarbanes-Oxley Act (SOX) - Answer: Requires companies to review internal control and take
responsibility for the accuracy and completeness of their financial reports.
Foreign Corrupt Practices Act (FCPA) - Answer: legislation passed to prevent companies from
bribing foreign officials to obtain business; also requires all publicly owned corporations
maintain a system of internal accounting controls
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,Anti-Bribery - Answer: The US's SEC and Department of Justice bring about hefty fines to
corporations for bribery, including acts such as bribes to win contracts.
Anti-Corruption - Answer: Businesses should work against corruption in all its forms, including
extortion and bribery.
GDPR (General Data Protection Regulation) - Answer: Provisions and requirements protecting
the personal data of European Union (EU) citizens. Transfers of personal data outside the EU
Single Market are restricted unless protected by like-for-like regulations, such as the US's Privacy
Shield requirements.
PCI DSS - Answer: Payment Card Industry Data Security Standard, a security standard created by
the Payment Card Industry Security Standards Council (PCI SSC)
HIPAA (Health Insurance Portability and Accountability Act) - Answer: law that protects privacy
of resident's health information and identifies certain health information that must be kept
private and confidential
FERPA (Family Educational Rights and Privacy Act) - Answer: A federal law that regulates the
management of student records and disclosure of information from those records. The Act has
its own administrative enforcement mechanism.
Anti-Money Laundering (AML) - Answer: rules designed to restrict the use of money obtained
from illegal activities so the funds are not transferred into legitimate activities so as to disguise
the origins of the funds
USA Patriot Act (2001) - Answer: Strengthens the federal government's power to conduct
surveillance, perform searches, and detain individuals in order to combat terrorism.
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, False Claims Act (FCA) - Answer: A federal law that prohibits submitting a fraudulent claim or
making a false statement or representation in connection with a claim.
Sherman Antitrust Act (1890) - Answer: Outlawed monopolies and practices that restrained
trade, such as price fixing
Yates Memo - Answer: DOJ memo released in September 2015 titled "Individual Accountability
for Corporate Wrongdoing". The memo prioritizes the manner in which government civil and
criminal law enforcement investigations are conducted, widely seen as calling for a substantially
increased focus on individual accountability for corporate wrongdoing. The Yates Memo
outlines 3 key areas of focus: Individuals, limited release of individuals when resolving corporate
cases, and relevance of individual ability to pay.
Monaco Memo - Answer: significantly revised the DOJ's corporate criminal enforcement policies
and procedures, including by putting a renewed focus on individual accountability and placing
stricter requirements on corporate cooperation credit (focusing on the importance of prompt
self-disclosure)
Benczkowski Memo - Answer: The contents of this memorandum provide internal guidance to
Criminal Division attorneys on legal issues. its aim is to make clear to the public, our
prosecutors, defense counsel, and corporations the standards, policy, and procedures for the
selection of monitors in matters being handled by Criminal Division attorneys.
SEC (Securities and Exchange Commission) - Answer: an independent federal agency that
oversees the exchange of securities to protect investors
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