CCEP Set 1 Latest Update 2024-2025 Actual

Certified Compliance and Ethics Professional CCEP Set 1 Latest Update 2024-2025 Actual Exam with Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor

A company recently created a position for a compliance and ethics professional (CEP).Which of the following should the new CEP do FIRST?

• Conduct a gap analysis to determine what components of a compliance and ethics

program currently exist.

• Schedule an external review of the compliance and ethics program,
• Develop a work plan for the compliance and ethics program that targets high-risk

areas and regulatory trends.

• Institute compliance and ethics education for all employees. - CORRECT ANSWER:
• Conduct a gap analysis to determine what components of a compliance and ethics

program currently exist.

A company uses 5,000 third parties to accomplish business tasks. Which of the following steps should the compliance and ethics professional take to require third parties to comply with the company's ethics and compliance standards?

• Read the third party's code of conduct.
• Include the standards in the third-party contract.
• Conduct due diligence on the third party.

D. Communicate the standards to the third part - CORRECT ANSWER: B. Include the

standards in the third-party contract.

A compliance and ethics professional (CEP) determined that the process for recording high value accounting items was incorrect and has worked with the accounting department to develop a corrective action plan. Which of the following should the CEP do NEXT?

• Require quarterly progress reports. 1 / 2

• Schedule an audit in one year.
• Monitor the implementation

D. Direct the mitigation plan. - CORRECT ANSWER: C. Monitor the implementation

A compliance and ethics professional (CEP) discovers a new hire is the nephew of one of the company's directors. The director is the chairperson of the compensation committee. When the CEP asks the CEO if he was aware of this situation, the CEO explains that the new hire is the "best in the business." Which of the following should the CEP do FIRST? A. Monitor the new hire's performance to ensure that the employee is as valuable as promised.

• Review the conflict of interest policy to determine if an action plan is necessary.
• Research the new hire's credentials to determine if he is the most qualified.
• Revise the corporate code of conduct to reflect the CEO's decision. - CORRECT

ANSWER: B. Review the conflict of interest policy to determine if an action plan is necessary.

A compliance and ethics professional (CEP) has a long list of things that need to be researched, created, and implemented. Resources must be requested. To proceed and know what to budget, the CEP should FIRST

• reduce scope of compliance.
• develop an annual plan.
• ask other staff groups for help.
• ask vendors for their best quotes - CORRECT ANSWER: B. develop an annual plan.

A compliance and ethics professional (CEP) has been asked to assist a department in establishing a new business line scheduled to be operational in two months. The CEP is not familiar with the regulatory issues of the business line. Which of the following should the CEP do FIRST?

• Ask the department to provide a summary of the functions and operations of the

business line.

• Request an additional full-time employee to assist the CEP. C. Inform the department

that assistance with the establishment of a business line cannot be provided.

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