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CCEP Exam (Compliance) Study Guide |130 Questions with complete solutions |
Question 1: Which of the following BEST describes the purpose
of training based upon risk assessment findings?A.) Reducing the organization's legal exposure B.) Educating employees on laws and regulations C.) Educating the board on the compliance program D.) Reducing the organization's insurance premiums
CORRECT ANSWER : A. Reducing the organization's legal
exposure
Question 2: A compliance and ethics professional investigates a
report of sexual harassment. The incident does not constitute sexual harassment, but reveals the employee's misunderstandings of the harassment policy. Which of the following should be the FIRST step in a corrective action plan?A.) Consult outside counsel B.) Disclose the incident to the EEOC C.) Provide education and training on the policy D.) Survey employees' understanding of the policy
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CORRECT ANSWER : C. Provide education and training on the
policy
Question 3: Which of the following provides guidance for the
development of a compliance program?A.) Sarbanes-Oxley Act B.) Federal Sentencing Guidelines C.) Security and Exchange Commission D.) Office for Civil Rights
CORRECT ANSWER : B. Federal Sentencing Guidelines
Question 4: Which of the following is the BEST outcome of a
compliance and ethics program?A.) Mitigating risk B.) Identifying risk C.) Prioritizing risk D.) Documenting risk
CORRECT ANSWER : A. Mitigating risk
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Question 5: Training on price-fixing is MOST important for
which of the following staff?A.) Management B.) Sales C.) Marketing D.) Accounting
CORRECT ANSWER : B. Sales
Question 6: A compliance and ethics program should include:
- An employee benefits handbook
- Document retention guidelines
- Policies regarding confidentiality
- A statement about the organization's culture
A.) 1,2, and 3 only B.) 1, 2, and 4 only C.) 1, 3, and 4 only D.) 2, 3, and 4 only
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CORRECT ANSWER : D. 2, 3, and 4 only
Question 7: A US-based retail company has 250 stores in 30
states. Past compliance efforts have included a silo-based approach with minimal oversight and the CEO acting as the Compliance and Ethics Officer. One person in each state posted compliance-related information sent from corporate, but there were no actual educational sessions. Policies and procedures were developed by corporate and reviewed 5 years ago. The organization has decided that a more dedicated approach is needed and hires a Compliance and Ethics Officer. Which of the following actions should the new Compliance and Ethics Officer take FIRST?A.) Conduct a compliance and ethics risk assessment B.) Review organization-wide compliance policies C.) Perform a statistically valid compliance audit D.) Distribute a compliance training packet to employees
CORRECT ANSWER : A. Conduct a compliance and ethics risk
assessment