CCEP Compliance and Ethics
Professional Certification Exam
Study Questions with Correct
solutions
A company receives a federal subpoena from the government requesting all of the
company's documents from 1990 to the present. The company's compliance and
ethics professional has been asked to respond to the subpoena and to advise the
company's employees on their role in the process. Which of the following should
the company's compliance and ethics professional do FIRST?
A.) Obtain documents and determine which to release
B.) Consult with the company's general counsel
C.) Gather documents and turn them over to the government
D.) Notify all employees that all documents must be retained
B.) Consult with the company's general counsel
Which of the following is MOST helpful in determining how a company
prioritizes its risk?
A.) Historical data
B.) Policies and procedures
C.) Incentive program
D.) Market competition
A.) Historical data
In which of the following would an employee's obligation to report misconduct
MOST likely be discussed?
,A.) Job interview
B.) Manager's meeting
C.) New employee orientation
D.) Audit committee meetings
C.) New employee orientation
According to the Sarbanes-Oxley Act, which of the following corporate
employees can be employed by a corporation's audit firm during the 1-
year period preceding an audit?
A.) CEO
B.) Controller
C.) Chief Accounting Officer
D.) Compliance and Ethics Professional
D.) Compliance and Ethics Professional
Which of the following departments in a large drug manufacturing company
is MOST likely to have the highest risk of non-compliance?
A.) Transportation
B.) Customer service
D.) Compliance and Ethics Professional
D.) Repair and Maintenance
D.) Compliance and Ethics Professional
A compliance and ethics professional should be perceived as the company's:
A.) Legal resource
B.) Ethical conscience
C.) Employee champion
D.) Enforcement authority
B.) Ethical conscience
, A compliance and ethics professional is auditing the organization's compliance
with the Sarbanes-Oxley Act. Which of the following audit findings indicates a
violation?
A.) The public accounting firm providing audit services has had the same
audit partner reviewing the audits for the past 6 years.
B.) The previous public accounting firm was the past employer of the
company's current controller who participated in an audit 4 years ago.
C.) The previous public accounting firm is providing bookkeeping related to
the accounting records and financial statements that they once audited.
D.) The public accounting firm providing audit services has been contracted
A.) The public accounting firm providing audit services has had the same audit partner
reviewing the audits for the past 6 years.
Under In re Caremark Int'l., the basic fiduciary duty of care principle is
characterized as acting in good faith with:
A.) Reasonable care of management under similar circumstances
B.) Reasonable care of an organization under similar circumstances
C.) The care of an ordinary prudent person under similar circumstances
D.) The care of another compliance and ethics professional under similar
circumstances
C.) The care of an ordinary prudent person under similar circumstances
Which of the following BEST describes the primary role of a compliance
and ethics professional?
A.) Ensures that risks are appropriately prioritized B.)
Performs background checks on new employees
C.) Includes compliance and ethics questions in exit interviews
D.) Promotes a culture of compliance and ethics throughout the organization
D.) Promotes a culture of compliance and ethics throughout the organization
Which of the following is a key component of a compliance and ethics program?
Professional Certification Exam
Study Questions with Correct
solutions
A company receives a federal subpoena from the government requesting all of the
company's documents from 1990 to the present. The company's compliance and
ethics professional has been asked to respond to the subpoena and to advise the
company's employees on their role in the process. Which of the following should
the company's compliance and ethics professional do FIRST?
A.) Obtain documents and determine which to release
B.) Consult with the company's general counsel
C.) Gather documents and turn them over to the government
D.) Notify all employees that all documents must be retained
B.) Consult with the company's general counsel
Which of the following is MOST helpful in determining how a company
prioritizes its risk?
A.) Historical data
B.) Policies and procedures
C.) Incentive program
D.) Market competition
A.) Historical data
In which of the following would an employee's obligation to report misconduct
MOST likely be discussed?
,A.) Job interview
B.) Manager's meeting
C.) New employee orientation
D.) Audit committee meetings
C.) New employee orientation
According to the Sarbanes-Oxley Act, which of the following corporate
employees can be employed by a corporation's audit firm during the 1-
year period preceding an audit?
A.) CEO
B.) Controller
C.) Chief Accounting Officer
D.) Compliance and Ethics Professional
D.) Compliance and Ethics Professional
Which of the following departments in a large drug manufacturing company
is MOST likely to have the highest risk of non-compliance?
A.) Transportation
B.) Customer service
D.) Compliance and Ethics Professional
D.) Repair and Maintenance
D.) Compliance and Ethics Professional
A compliance and ethics professional should be perceived as the company's:
A.) Legal resource
B.) Ethical conscience
C.) Employee champion
D.) Enforcement authority
B.) Ethical conscience
, A compliance and ethics professional is auditing the organization's compliance
with the Sarbanes-Oxley Act. Which of the following audit findings indicates a
violation?
A.) The public accounting firm providing audit services has had the same
audit partner reviewing the audits for the past 6 years.
B.) The previous public accounting firm was the past employer of the
company's current controller who participated in an audit 4 years ago.
C.) The previous public accounting firm is providing bookkeeping related to
the accounting records and financial statements that they once audited.
D.) The public accounting firm providing audit services has been contracted
A.) The public accounting firm providing audit services has had the same audit partner
reviewing the audits for the past 6 years.
Under In re Caremark Int'l., the basic fiduciary duty of care principle is
characterized as acting in good faith with:
A.) Reasonable care of management under similar circumstances
B.) Reasonable care of an organization under similar circumstances
C.) The care of an ordinary prudent person under similar circumstances
D.) The care of another compliance and ethics professional under similar
circumstances
C.) The care of an ordinary prudent person under similar circumstances
Which of the following BEST describes the primary role of a compliance
and ethics professional?
A.) Ensures that risks are appropriately prioritized B.)
Performs background checks on new employees
C.) Includes compliance and ethics questions in exit interviews
D.) Promotes a culture of compliance and ethics throughout the organization
D.) Promotes a culture of compliance and ethics throughout the organization
Which of the following is a key component of a compliance and ethics program?
