FPC-Remote Sample Questions Answers

An employee earns $40,000 annually. claiming single with no entries on lines 2,3, or 4 on her 2020 form W4, she contributes $6,000 annually to her 401k. How much must be withheld for federal income tax, social security, and or medicare tax on contribution?

Under which type of plans are employee contributions subject to social security and medicare taxes?

What authority controls the frequency with which employees must be paid?

All of the following features are present in a qualified plan except:

Whichcafeteria plan are authorized by what Internal Revenue Code Section?

Which of the following statements about the FLSA overtime requirements is correct?

An exempt employee under the FLSA is exempt from:

Accounting data beings with a transaction. this information is first posted:

All of the following statements are correct regarding online processing EXCEPT:

A computerized payroll system can help a payroll dept accomplish all of the following tasks except:

An employee works from midnight to 8am on a company paid holiday but does not work more than 40 hours during the workweek. under the FLSA, the employee must be paid:

How would each of the following be posted?

A retired safety inspector for the company was rehired as a consultant when the company expanded its plant operations. the retired employee was a natural choice. the tasks he undertook as a consultant were the same as the ones he performed before retirement. paid monthly, he has agreed to work under the direction of his old boss until the new plantfacilitates are fully operational? What is his status?

If a state wage and hour law requires that a nonexempt employee be paid an overtime premium when the employee works more than 8 hours in a day and the employee works the following schedule, how many overtime hours must the employee be paid?

sun-5

mon-7

tues-6

weds-8

thurs-10

fri-8

sat-6

when a payroll department does not respond promptly to a penalty notice from a governmental agency against an employee, this is an example of:

A semiweekly depositor that has a payroll tax liability of $50,000 from a Monday payroll must deposit the liability by:

Privacy of employee info should be a top priority of the payroll manager, but not necessarily a top priority of the payroll staff.

A waitress is paid $2.25 per hour and she receives $225 in tips during the week. She works 4o hours per week. Which of the following is true?

FUTA taxes of more than $500 on wages paid in the first quarter must be deposited no later than:

Which type of report does not originate from the employees earning record?

The integrity of the data can be verified by:

What is the effect on an employees income when the employer pays that employees share of social security and medicare taxes on a fringe benefit?

Last week, a high school teacher spent 40 hours in the classroom, worked 10 hours grading papers and was required to put in another 8 hours on saturday at the school sponsored science fair. under the FLSA, what overtime hours, if any, must the teacher be paid?

An employer provides an employee $300 each month in bus tokens so she can commute to work. How much of this expense is taxable?

A financial transaction is first posted in your organizations:

when does an employer stop deducting a federal tax levy from an employee's wages?

When paying supplemental wages, when must the aggregate withholding method be used?

What does an employer use to calculate the amount to withhold for an IRS tax levy?

At the beginning of the year, an employee elected to buy group term life insurance as part of his benefit package through his companys cafeteria benefit plan. in may he took out an individual life insurance policy. since he no longer needs group coverage, he wants to replace the insurance option with increase contributions to his 401k plans. is this possible?

Would each of the following entries be posted in the account as a debit (DR) or credit (CR)?

Which of the following is the best method of guarding against phantom employees?

An employer may provide all of the following features in a 401k plan except:

A company is a monthly depositer for 2020. on payday, the company accumulates apayroll tax liability of $101,000. the payroll tax deposits for this liability must be made:

The federal minimum wage is used when figuring the amount to withhold for a creditor garnishment

All of the following deductions are involuntary deductions EXCEPT:

One of the options in an employee's cafeteria benefit plan is a dependent care flexible spending account. He earnmarked $100 per month to the account to pay for child care but spent only $1000 by the end of the plans grace period. At the end of the grace period, what happens to the $200 left in the account?