Practice Test Geeks(CCEP) Certified Compliance and Ethics Professional Practice Test
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Regulatory Frameworks Flashcards

7 cards from real CCEP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Regulatory Frameworks flashcards as text

  1. Under the False Claims Act (FCA), what percentage of the government's recovery can a whistleblower (relator) receive when the government intervenes in a qui tam lawsuit?

    Answer: 15 to 25 percent

    Under the FCA, if the government intervenes, the relator is entitled to between 15 and 25 percent of the proceeds recovered.

  2. The NIST Cybersecurity Framework (CSF) is organized around which five core functions?

    Answer: Identify, Protect, Detect, Respond, Recover

    The NIST CSF core consists of five functions: Identify, Protect, Detect, Respond, and Recover, which together form a risk management lifecycle.

  3. Which regulatory framework specifically governs the privacy and security of protected health information (PHI) in the United States?

    Answer: Health Insurance Portability and Accountability Act (HIPAA)

    HIPAA's Privacy Rule and Security Rule establish national standards for the protection of PHI held by covered entities and their business associates.

  4. In the context of anti-money laundering (AML) compliance, what does 'KYC' stand for and what is its primary purpose?

    Answer: Know Your Customer; to verify client identity and assess risk

    Know Your Customer (KYC) refers to the process of verifying the identity of clients and assessing their suitability and risk profile to prevent financial crime.

  5. The Dodd-Frank Wall Street Reform and Consumer Protection Act established which agency to protect consumers in financial transactions?

    Answer: Consumer Financial Protection Bureau (CFPB)

    Dodd-Frank created the CFPB in 2010 as an independent agency to protect consumers from unfair, deceptive, or abusive practices by financial service providers.

  6. Under ISO 37001 (Anti-Bribery Management Systems), which element is NOT a required component of an anti-bribery management system?

    Answer: Mandatory criminal background checks for all employees

    ISO 37001 does not mandate criminal background checks for all employees; it focuses on proportionate, risk-based controls including policy, due diligence, and oversight.

  7. Which principle under the OECD Anti-Bribery Convention requires signatory countries to establish criminal offenses for bribing foreign public officials?

    Answer: The active bribery of foreign officials principle

    The OECD Convention's core obligation requires signatory countries to criminalize the active bribery of foreign public officials in international business transactions.