CCEP Exam Questions with VERIFIED Answers (Guaranteed Success)
Q1: 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
Q2: 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
Q3: Which of the following is the MOST effective way a compliance and ethics professional can
evaluate compliance and ethics audit findings?
Answer: Conduct trend analysis on identified risk areas and benchmark results against industry
standards
Q4: Which of the following BEST describes the primary role of people of a compliance and ethics
professional?
Answer: Promotes a culture of compliance and ethics throughout the organization
,Q5: 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
Answer: A. ) Conduct a compliance and ethics risk assessment
Q6: An employee discloses that a supervisor has been verbally abusive. The same supervisor has also
been sexually harassing several employees in his department. The compliance program requires that
findings of harassment be documented and forwarded by the compliance and ethics professional to the
CEO with a recommendation for appropriate discipline. Counsel advises that no report be written
because of possible litigation. The compliance and ethics professional's BEST course of action is to...
Answer: Ask counsel to prepare the written report
Q7: Which of the following is the BEST outcome of a compliance and ethics program?
Answer: Mitigating risk
Q8: A compliance and ethics professional receives an anonymous complaint that an employee is
receiving gifts from a vendor. An investigation finds the employee is not in violation of the current gift
policy and the policy has not been reviewed in five years. Which of the following is the compliance and
ethics professional's MOST appropriate action?
Answer: Benchmark for vendor relation best practices
, Q9: A problem was found in a routine accounting audit. Corrective action was taken and the policies
and procedures were updated. Which of the following is the next step in the audit process?
A. Report findings to the board of directors
B. Prepare the final summary and storage of the audit results
C. Review the process after a period of time to determine if the problem is resolved
D. Conduct a risk assessment to identify other possible issues.
Answer: C. Review the process after a period of time to determine if the problem is resolved
Q10: What is the first step in the audit process?
Answer: Identify a problem
Q11: What is the second step in the audit process?
Answer: Take corrective action
Q12: What is the third step in the audit process?
Answer: Update policies & procedures
Q13: What is the fourth step in the audit process?
Answer: Communicate changes(s) to affected parties
Q14: What is the last step in the audit process?
Answer: Review process and documentation after a period of time to ensure success.
Q15: If in the course of their work, CEPs become aware of any decision by their employing organization
which, if implemented, would constitute misconduct, the professional shall: (
Answer: Principle 1 - Obligations to the Public (SCCE Code of Professional Ethics)
Q1: 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
Q2: 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
Q3: Which of the following is the MOST effective way a compliance and ethics professional can
evaluate compliance and ethics audit findings?
Answer: Conduct trend analysis on identified risk areas and benchmark results against industry
standards
Q4: Which of the following BEST describes the primary role of people of a compliance and ethics
professional?
Answer: Promotes a culture of compliance and ethics throughout the organization
,Q5: 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
Answer: A. ) Conduct a compliance and ethics risk assessment
Q6: An employee discloses that a supervisor has been verbally abusive. The same supervisor has also
been sexually harassing several employees in his department. The compliance program requires that
findings of harassment be documented and forwarded by the compliance and ethics professional to the
CEO with a recommendation for appropriate discipline. Counsel advises that no report be written
because of possible litigation. The compliance and ethics professional's BEST course of action is to...
Answer: Ask counsel to prepare the written report
Q7: Which of the following is the BEST outcome of a compliance and ethics program?
Answer: Mitigating risk
Q8: A compliance and ethics professional receives an anonymous complaint that an employee is
receiving gifts from a vendor. An investigation finds the employee is not in violation of the current gift
policy and the policy has not been reviewed in five years. Which of the following is the compliance and
ethics professional's MOST appropriate action?
Answer: Benchmark for vendor relation best practices
, Q9: A problem was found in a routine accounting audit. Corrective action was taken and the policies
and procedures were updated. Which of the following is the next step in the audit process?
A. Report findings to the board of directors
B. Prepare the final summary and storage of the audit results
C. Review the process after a period of time to determine if the problem is resolved
D. Conduct a risk assessment to identify other possible issues.
Answer: C. Review the process after a period of time to determine if the problem is resolved
Q10: What is the first step in the audit process?
Answer: Identify a problem
Q11: What is the second step in the audit process?
Answer: Take corrective action
Q12: What is the third step in the audit process?
Answer: Update policies & procedures
Q13: What is the fourth step in the audit process?
Answer: Communicate changes(s) to affected parties
Q14: What is the last step in the audit process?
Answer: Review process and documentation after a period of time to ensure success.
Q15: If in the course of their work, CEPs become aware of any decision by their employing organization
which, if implemented, would constitute misconduct, the professional shall: (
Answer: Principle 1 - Obligations to the Public (SCCE Code of Professional Ethics)
