CCM CCM Ethics and Whistleblower Protections

Question 1

Under the Sarbanes-Oxley Act (SOX), which employees are protected from retaliation for reporting securities fraud?

Accepted Answer

Employees of publicly traded companies who report violations in good faith

Answer

Only C-suite executives

Answer

Only external auditors

Answer

Employees of private companies only

Question 2

What is the primary purpose of an anonymous ethics hotline in a compliance program?

Accepted Answer

To provide a safe channel for employees to report compliance concerns without fear of retaliation

Answer

To track employee productivity

Answer

To handle customer complaints

Answer

To communicate policy changes to staff

Question 3

Which federal agency administers the whistleblower program under the Dodd-Frank Act?

Accepted Answer

Securities and Exchange Commission (SEC)

Answer

Department of Labor (DOL)

Answer

Department of Justice (DOJ)

Answer

Federal Trade Commission (FTC)

Question 4

What does 'retaliation' against a whistleblower typically include?

Accepted Answer

Adverse employment actions such as termination, demotion, or harassment

Answer

Providing the employee a performance bonus

Answer

Offering the employee additional compliance training

Answer

Reassigning the employee to a preferred role

Question 5

What is a 'good faith' report in the context of whistleblower protections?

Accepted Answer

A report made with a reasonable belief that a violation has occurred, even if ultimately unproven

Answer

A report made for personal financial gain

Answer

A report filed only after legal counsel approves it

Answer

A report submitted exclusively to external regulators

Question 6

Which law protects federal government employees who report waste, fraud, or abuse?

Accepted Answer

The Whistleblower Protection Act (WPA)

Answer

The Sherman Antitrust Act

Answer

The Fair Labor Standards Act (FLSA)

Answer

The Employee Retirement Income Security Act (ERISA)