CCCP Board & Executive Communication 3

Question 1

Attorney-client privilege over compliance communications to the board is BEST preserved when:

Accepted Answer

Legal counsel directs the investigation and communications are marked as attorney-client privileged

Answer

Privilege requires that legal counsel direct the work and communications be properly labeled and limited in distribution.

Question 2

A board director contacts the CCO directly to request a personal briefing on a regulatory matter before the full board meeting. The CCO should:

Accepted Answer

Consult with the board chair and general counsel before conducting an individual briefing

Answer

Pre-meeting briefings with individual directors can create information asymmetry; coordination with leadership ensures appropriate governance.

Question 3

Which of the following BEST describes the 'duty to inquire' concept relevant to board compliance oversight?

Accepted Answer

Directors must ask probing questions when red flags suggest compliance weaknesses

Answer

The duty to inquire requires directors to probe deeper when warning signs emerge, rather than accepting management's assurances passively.

Question 4

An executive team proposes reframing a compliance failure as a 'process improvement opportunity' in the board report. The CCO should:

Accepted Answer

Insist on accurate characterization of the failure while noting corrective actions

Answer

Accurate reporting of compliance failures is required for board oversight; sanitizing failures undermines directors' ability to fulfill their governance role.

Question 5

How often should a compliance officer present a comprehensive program update to the full board, at minimum?

Accepted Answer

Annually, with interim audit committee updates as needed

Answer

Best practice calls for at least annual full-board compliance updates, supplemented by more frequent audit committee engagement.

(CCCP) Certified Corporate Compliance Professional Practice Test

(CCCP) Certified Corporate Compliance Professional Practice Test

CCCP Board & Executive Communication 3