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Ethics & Controls – Practice Exam – Canadian

By Beth McTeer / August 31, 2022

CDB – Canadian Version Ethics & Controls – Canadian Ethics & Controls – Practice Exam – Canadian

This practice exam can be taken as many times as needed to feel confident and prepared for the Ethics & Controls Exam.

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Question 1 of 10

1. Question
You have a couple clients in the same industry. One of your clients wants to know how he is doing compared to your other clients. What do you tell him?
- "I cannot disclose that information."
- "I must receive in writing from my other clients that I can share that information before telling you."
- "I can tell you general benchmarking metrics, but I cannot disclose any sensitive information."
- "Sure! Let me tell you how they're doing."
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Question 2 of 10

2. Question
What is your ethical responsibility as a bookkeeper? (Select all that apply.)
- Serve the public interest
- Honor the public trust
- Demonstrate a commitment to professionalism
- Offer economical services
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Question 3 of 10

3. Question
A family member approaches you for bookkeeping services. What do you say?
- I'd be happy to help.
- I'd be happy to help, but I only do pro bono work for family.
- I do not mix business and personal.
- I typically don't mix business and personal, but I will do it for you pro bono.
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Question 4 of 10

4. Question
What are elements of due care? (Select all that apply.)
- Observe bookkeeping ethical and technical standards
- Continually improve competency
- Continually improve the quality of services
- Complete services to the best of your ability
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Question 5 of 10

5. Question
If you are in compliance with all of the ethical principles, you will still be found at fault during litigation.
- TRUE
- FALSE
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Question 6 of 10

6. Question
Which of the following are types of internal controls? (Select all that apply.)
- Preventative controls
- Directive controls
- Detective controls
- Corrective controls
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Question 7 of 10

7. Question
Your client wants you to write checks for the business. Why do you tell him that you cannot do it by yourself?
- Separation of duties
- Adequate documentation
- Proper authorization
- Physical control over assets
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Question 8 of 10

8. Question
Proper authorization is what type of internal control?
- Preventative controls
- Directive controls
- Detective controls
- Corrective controls
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Question 9 of 10

9. Question
What directive controls should you encourage your client to maintain as his company grows?
- Proper authorization
- Physical supervision from managers periodically
- Written guidelines
- Adequate documentation
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Question 10 of 10

10. Question
For their internal controls to be in compliance, your client should conduct physical inventory counts only when suspicious of theft.
- TRUE
- FALSE
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