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Questions and Answers
What is the purpose of the memo the Chief Compliance Officer is writing?
What is the purpose of the memo the Chief Compliance Officer is writing?
- To describe the current compliance program
- To implement a new compliance program (correct)
- To evaluate the effectiveness of the compliance program
- To report on compliance violations
What is the Chief Compliance Officer asked to describe in the memo?
What is the Chief Compliance Officer asked to describe in the memo?
- The benefits of the current compliance program
- The consequences of non-compliance
- The history of compliance in the organization
- Three features of the new compliance program (correct)
What strategies will the Chief Compliance Officer use to get employees to follow the new compliance program?
What strategies will the Chief Compliance Officer use to get employees to follow the new compliance program?
- Threatening employees with punishment for non-compliance
- Ignoring non-compliance altogether
- Offering financial incentives for compliance
- Providing training and education on the program (correct)
