CCEP COMPLIANCE AND ETHICS
PROFESSIONAL COMPLETE CERTIFICATION
REVIEW GUIDE
◉ 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
◉ 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
◉ 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
◉ 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: Conduct a compliance and ethics risk assessment
◉ 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
, ◉ Which of the following is the BEST outcome of a compliance and
ethics program?
Answer: Mitigating risk
◉ 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
◉ 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: Review the process after a period of time to determine if
the problem is resolved.
◉ What is the first step in the audit process?
PROFESSIONAL COMPLETE CERTIFICATION
REVIEW GUIDE
◉ 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
◉ 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
◉ 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
◉ 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: Conduct a compliance and ethics risk assessment
◉ 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
, ◉ Which of the following is the BEST outcome of a compliance and
ethics program?
Answer: Mitigating risk
◉ 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
◉ 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: Review the process after a period of time to determine if
the problem is resolved.
◉ What is the first step in the audit process?
