CERTIFIED COMPLIANCE AND ETHICS PROFESSIONAL (CCEP) CERTIFICATION EXAM LATEST 2024 WITH UPDATED QUESTIONS AND DETAILED CORRECT ANSWERS (ALREADY GRADED A+)

CERTIFIED COMPLIANCE AND ETHICS PROFESSIONAL (CCEP) CERTIFICATION EXAM LATEST 2024 WITH UPDATED QUESTIONS AND DETAILED CORRECT ANSWERS (ALREADY GRADED A+) 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 compliancerelated 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 2 | P a g e 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 are the 7 elements of a Compliance Program? - ANSWER1. 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