CCEP

Question 1

What do compliance and ethics programs do? (2 things)

Answer 1

(1) Prevent and detect misconduct at and by organizations; and (2) Promote ethical business environments

Question 2

Compliance and ethics programs serve a critical role in helping to _____________ and _____________ misconduct at and by organizations, and to __________________ ethical business environments.

Answer 2

Prevent, Detect, and Promote.

Question 3

Development and implementation of effective compliance and ethics programs protect who (4 groups)?

Answer 3

Investors, consumers, the business community, and public at large.

Question 4

Compliance services require the highest standards of:

Answer 4

Professionalism, Integrity & Competence

Question 5

Code of Ethics expresses the profession’s recognition of its responsibilities to:

Answer 5

The general public, to employers and clients, and to the profession.

Question 6

Code of Ethics has been adopted by whom?

Answer 6

Society of Corporate Compliance and Ethics

Question 7

Code of Ethics provides two kinds of standards:

Answer 7

(1) Principles and (2) Rules of Conduct

Question 8

What are Principles?

Answer 8

Broad standards that provide a framework for the more detailed Rules of Conduct.

Question 9

What are Rules of Conduct?

Answer 9

Rules of Conduct are specific standards that prescribe the minimum level of professional conduct expected of CEPs.

Question 10

Both the ______________ and the___________________ are expected to comply with the Code.

Answer 10

Individual professional and professional community.

Question 11

__________________ is provided for some Rules of Conduct.

Answer 11

Commentary

Question 12

Employing organization includes:

Answer 12

the employing organization and clients

Question 13

Law or Laws include:

Answer 13

All national, state, provincial, and local laws and regulations, court orders, and consent agreements

Question 14

Misconduct includes:

Answer 14

Both illegal acts and unethical conduct

Question 15

Highest governing body refers to:

Answer 15

The highest policy and decision-making authority in an
organization, such as the board of directors or trustees of an
organization

Question 16

Principle I

Answer 16

Obligations to the Public

Question 17

Principle II

Answer 17

Obligations to the Employing Organization

Question 18

Principle III

Answer 18

Obligations to the Profession

Question 19

(Principle I) In order to contribute to the public good, CEPs should:

Answer 19

(1) abide by and promote compliance with the spirit and letter of the law governing their employing organization’s conduct; and (2) exemplify the highest ethical standards in their professional conduct.

Question 20

CEPs shall not _____, _______, or ________ in misconduct.

Answer 20

Aid, abet, or participate.

Question 21

CEPs shall take _________________________ as are necessary to prevent misconduct by their employing organizations.

Answer 21

Such steps.

Question 22

CEPs must exercise _______ ___________ in responding to or cooperating with all official and legitimate government investigations of or inquiries concerning their employing organization.

Answer 22

sound judgment. You may never lie or obstruct in an investigation!

Question 23

If CEPS become aware of misconduct, the professional shall:

Answer 23

(1) refuse to consent; (2) escalate the matter, including to the highest governing body; (3) consider resignation if the prior options do not work; and (4) report the decision to public officials when required by law.

Question 24

(Principle II) CEPs should:

Answer 24

(1) serve their employing organizations with the highest sense of integrity; (2) exercise unprejudiced and unbiased judgment on their behalf; and (3) promote effective compliance and ethics programs.

Question 25

CEPs must be ___________, _____________, and __________________.

Answer 25

Timely, competent, and professional.

Question 26

CEPs shall ensure to the best of their abilities that employing organizations comply with all relevant laws.

Answer 26

True.

Question 27

CEPs exercise a leadership role in compliance assurance and employees have no responsibility to ensure compliance.

Answer 27

False. All employees have the responsibility to ensure compliance.

Question 28

CEPs shall investigate with appropriate due diligence all issues, information, reports, and/or conduct that relates to actual or suspected misconduct, whether past, current, or prospective.

Answer 28

True.

Question 29

If Legal is responsible for investigating suspected misconduct, CEPs can report suspected misconduct to Legal and satisfy their responsibilities.

Answer 29

True.

Question 30

CEPs are not required to keep senior management and the highest governing body informed of the status of the compliance and ethics program, both as to the implementation of the program and areas of compliance risk.

Answer 30

False. Senior management and highest governing body must be kept informed.

Question 31

CEPs shall not aid or abet retaliation against any employee who reports actual, potential or suspected misconduct.

Answer 31

True.

Question 32

CEPs shall strive to implement _________ that ensure the protection from retaliation of any employee who reports actual, potential, or suspected misconduct.

Answer 32

Implement

Question 33

CEPs shall carefully guard against _____________________________ obtained in the course of their professional activities.

Answer 33

disclosure of confidential information

Question 34

CEPs shall not mislead employing organizations about the ___________________________________________.

Answer 34

results that can be achieved through the use of their services.

Question 35

(Principle III) CEPs should strive, through their actions, to uphold the _______________ and ____________ of the professional, to advance the effectiveness of compliance and ethics programs, and to promote professionalism in compliance and ethics.

Answer 35

integrity and dignity

Question 36

CEPs shall pursue professional activities with honesty, fairness, and diligence.

Answer 36

True.