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Complete Compliance & Ethics Manual Quiz Questions and Complete Solutions Graded A+
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Complete Compliance & Ethics Manual Quiz Questions and Complete Solutions Graded A+
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Complete Compliance &Ethics Manual Quiz
Questions and Complete
Solutions Graded A+
Denning [Date] [Course title]
, Name the seven essential elements of compliance. - Correct Ans: 1. Written policies and procedures
2. Designated compliance officer and compliance committee
3. Effective training and education
4. Effective lines of communication
5. Internal monitoring and auditing
6. Enforcement and discipline
7. Corrective actions to detected problems
What are the two types of compliance policies and procedures that should be developed by every
organization? - Correct Ans: -Structural (framework)
-Substantive (define applicable regulations)
Who do most compliance officers report to? - Correct Ans: Board
How many minimal hours of compliance education should be required for all employees? - Correct Ans:
Minimum of one hour
What two things must be documented and reported? - Correct Ans: Auditing and monitoring activities
What are the typical five disciplinary action steps? - Correct Ans: 1. Verbal warning
2. Written warning
3. Suspension
4. Fine
5. Termination
The government encourages _______ of suspected fraud. - Correct Ans: reporting
What are six ways to save on future costs of compliance? - Correct Ans: 1. Embed quality into existing
processes
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