CCEP COMPREHENSIVE EXAM SCRIPT COMPLETE QUESTIONS VERIFIED SOLUTIONS
CCEP Complete EXAM Paper WITH Questions and
Answers Verified Solutions Latest Update 2026/2027
Question:
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
Question:
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
Question:
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
Question:
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
Question:
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
Question:
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
Question:
Which of the following is the BEST outcome of a compliance and ethics program?
Answer:
Mitigating risk
Question:
, 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
Question:
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.
Question:
What is the first step in the audit process?
Answer:
Identify a problem
Question:
What is the second step in the audit process?
Answer:
Take corrective action
Question:
What is the third step in the audit process?
Answer:
CCEP Complete EXAM Paper WITH Questions and
Answers Verified Solutions Latest Update 2026/2027
Question:
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
Question:
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
Question:
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
Question:
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
Question:
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
Question:
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
Question:
Which of the following is the BEST outcome of a compliance and ethics program?
Answer:
Mitigating risk
Question:
, 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
Question:
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.
Question:
What is the first step in the audit process?
Answer:
Identify a problem
Question:
What is the second step in the audit process?
Answer:
Take corrective action
Question:
What is the third step in the audit process?
Answer:
