CCEP. Set 2 Questions with Accurate Answers

CCEP. Set 2 Questions with Accurate Answers A compliance and ethics professional (CEP) is confronted in her office by ten government officials conducting a surprise visit. They demand immediate access to all company documents. Which of the following should the CEP do FIRST? A. Tell them that it is not a compliance matter. B. Request a copy of their official authorization. C. Call a higher authority to request immediate intervention. D. Permit immediate access C. Call a higher authority to request immediate intervention. Under best practices, an effective compliance and ethics program calls for A. maintenance of standards and procedures. B. risk assessment by an independent consultant. C. annual review by in-house legal counsel. D. approval by the internal audit department A. maintenance of standards and procedures. A company offers free bottled water to all employees in pantry locations throughout the building. A security camera tape reveals an employee putting several cases of water in his trunk. The company's policies state that theft of company property will result in immediate termination. Which of the following should the compliance and ethics professional do FIRST? A. Terminate the employee because of the company policy violation. B. Initiate disciplinary action based on the security camera tape. C. Interview the employee regarding his actions. D. Report the matter to local law enforcement. C. Interview the employee regarding his actions. A compliance and ethics professional (CEP) receives a call from an employee in the finance department who is concerned that the company is not complying with document destruction requirements. Which of the following is the CEP's BEST response to the inquiry? A. Ask the employee to identify the law that was violated. B. Inform the employee the issue will be reviewed as time permits. C. Require the finance department to destroy all records immediately. D. Discuss the document destruction practices with the director of finance. D. Discuss the document destruction practices with the director of finance. To have an effective program, a compliance and ethics professional must provide training to all employees and A. the company's highest authority. B. external auditors. C. high-value customers. D. majority shareholders A. the company's highest authority. An effective organizational code of conduct should include A. where to seek help and clarification when in doubt. B. a requirement for an annual baseline audit. C. a list of officers and directors. D. periodic compliance training. A. where to seek help and clarification when in doubt. A compliance and ethics professional is asked to provide the company's board of directors with a quarterly compliance report. Which of the following should the report include? A. review of key organizational compliance accomplishments B. extensive report on a fraud investigation conducted by counsel C. summary of every call to the company's compliance hotline D. specific details regarding all compliance training and education D. specific details regarding all compliance training and education Which of the following tools would BEST help to prioritize potential compliance problems? A. interview B. survey C. company policy D. risk matrix D. risk matrix The assistant to a senior manager submitted a reimbursement request for $15,000 of "miscellaneous entertainment expenses." The company's payables clerk determined that the payee is a foreign minister. The clerk should A. discuss the payment request with a supervisor. B. issue reimbursement once receipts are received. C. deny payment of the request and return it to the senior manager. D. investigate whether expenses were appropriate A. discuss the payment request with a supervisor. Disciplinary actions for violation of company policies should be documented when A. resulting in employee termination. B. required by law or regulation. C. such action is taken. D. directed by legal counsel C. such action is taken. The MOST appropriate factor in determining the level of resources necessary for an effective compliance and ethics program is the A. geographic location of the company. B. size of the organization. C. composition of the board of directors. D. company's revenue. B. size of the organization. During the course of conducting a compliance audit, a department director becomes concerned and asks that the audit be stopped. Which of the following should the compliance and ethics professional do FIRST? A. Discuss the concern with the department director. B. Seek assistance from the audit committee. C. Ask the department director to complete the audit. D. Reschedule the audit to meet the department's needs. A. Discuss the concern with the department director. The CFO of a public company goes on a trip paid for by a prospective vendor in violation of company policy. The CFO is a member of the committee selecting a new vendor. Which of the following is the compliance and ethics professional's MOST appropriate recommendation? A. Remove the CFO from the vendor selection process. B. ignore the issue since it was a one-time event. C. Tax the CFO for the value of the trip. D, Report the CFO to law enforcement officials A. Remove the CFO from the vendor selection process. A compliance and ethics professional (CEP) leads a compliance and ethics committee that includes senior executives from different departments. Which of the following is a key responsibility of the CEP? A. Ensure the objectives of the committee are implemented. B. Hire an external auditor to ensure committee independence. C. Share oversight committee meeting minutes with counsel. D. Report gaps in committee oversight to the CEO. A. Ensure the objectives of the committee are implemented. A company issues a new values statement on its website, stating that profitability is the company's top priority. There is no mention of the code of conduct, ethics, or compliance in the statement or elsewhere on the website. Which of the following actions should the compliance and ethics professional take? A. Ask the technology department to remove the statement from the website. B. Publish a separate values statement from the compliance department. C. Modify the code of conduct to reflect the new corporate strategy. D. Educate corporate leadership on compliance and ethics standards D. Educate corporate leadership on compliance and ethics standards An audit reveals the employment of several relatives in key positions. Which of the following should be the compliance and ethics professional's FIRST step? A. Facilitate a meeting with internal audit, general counsel, and HR to review the qualifications of the employees. B. Determine if an HR policy has been violated. C. Determine if any of the related employees have worked together to manipulate the system. D. Implement processes to remove the related employees from their positions B. Determine if an HR policy has been violated. The UK Bribery Act providers a defense if a company has A .A code of conduct B. Compliance goals C. An audit charter D. Adequate procedure D. Adequate procedure