Fundamental Payroll Certification FPC-REMOTE Exam Dumps

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Fundamental Payroll Certification FPC-REMOTE exam is open to individuals who want to demonstrate a baseline of payroll competency, including entry-level payroll professionals, sales professionals/consultants in the payroll industry, systems analysts/engineers supporting payroll systems, and payroll service provider client representatives. We provide the latest Fundamental Payroll Certification FPC-REMOTE exam dumps, which are valuable in your preparation. Free Fundamental Payroll Certification FPC-REMOTE exam dumps are available below.

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1. For her 10 years of service, an employee was given a gold necklace valued at $100.

Which of the following is true?

the gift must be included in her taxable compensation

the gift is tax free

only social security and medicare tax should be withheld on the fair market value of the award

only federal income tax should be withheld on the fair market value of the award

2. hat type of pay is included in the regular rate of pay calculation?

discretionary bonuses

paid sick leave

paid vacation leave

production bonuses

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

disposable pay

net pay

take home pay

taxable wages

4. Payroll documentation accomplishes all of the following goals EXCEPT:

ensuring uniformity

providing a reference tool

ensuring that procedures are followed

simplifying training

5. When an employee lives and works in the same state, the employer withholds income tax for that state.

TRUE

False

6. All of the following statements about FLSA overtime regulations are true EXCEPT:

a bonus paid under a union contract is included in the regular rate of pay

a holiday bonus, paid at the discretion of the employer is excluded from the regular rate of pay

the weeks regular rate of pay must include shift premiums

employers must pay overtime when employees work more than 8 hours in a workday.

7. 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?

independent contractor under common law

independent contractor under reasonable basis test

employee

8. During thanksgiving week, a nonexempt employee was paid for the following hours:

sun- none

mon- 10 hours worked

tues- 10 hrs work

weds- 8 hr sicks day

thurs- 8 hr holiday

fri-8 hr vacation

sat- 8 hr work

How many overtime hours, if any, did the ee work?

0 hours

4 hours

12 hours

9. Prior to beginning work for a company, a chemical engineer signed a contract stating that she agreed to work as an independent contractor. she performs all her duties in the companys laboratories, works under the companys direction, and maintains regular office hours. what is her status?

independent contractor under common law

independent contractor under reasonable basis test

employee

10. An employee going to the payroll department to ask a question about his paycheck. when he arrives, the desks are unattended, files are open, desk tops are covered with paper, and the floor has stacks of reports askew.

Which customer service principle could be improved in this payroll department?

reliability

responsiveness

assurance

empahty

tangibles

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

taxable wages for each ee

calc of the appropriate tax rates

a report of form 1099 earnings

payroll analysis report

12. which of the following plans applies only to employees of public schools, colleges and universities, and public charities?

401k

403b

457b

both b and c

13. 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?

time and a one half for 0 hours

time and a one half for 8 hours

time and a one half for 10 hours

time and a one half for 18 hours

14. Whichcafeteria plan are authorized by what Internal Revenue Code Section?

125

401k

403b

457b

15. A financial transaction is first posted in your organizations:

chart of accounts

ledger

journal

balance sheet

16. Salaries earned but not yet paid in the current month must be recorded as:

debit to salary payable

credit to salary expense

debit to cash

debit to salary expense

17. An employee earns $1,000 weekly. his deductions are $174 for federal income tax, $62 for social security tax, and $14.50 for medicare tax. He is not supporting another family and has never been in arrears in his child support payments.

What is the maximum child support payment that can be withheld from his wages?

$600

$500

$449.70

$500.18

18. An employee is married with one child. His beginning salary is $1,000 semimonthly. because of an unexpected business trip, the employee fails to submit a 2020 form W4 by his first payday.

What withholding status must the employer use for his first paycheck?

single/married filing separately, no entries in steps 2,3,4

married filing jointly, no entries in steps 2,3,4

single/married filing separately, entry in step 3 for one dependent

married filing jointly, entry in step 3 for one dependent

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

state laws

FLSA rules

Local laws

IRS rules

20. You receive a letter of inquiry concerning an employee.

What should you do?

follow your companys policy on the release of employee info

ignore the letter becuase its the employees issue

send a short letter to the agency stating that the issue is being reviewed.

call the requested and tell them you plan to locate the info and send it in a few months.

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21. All of the following are reasons payroll keeps records except:

compliance with laws

demonstrate accuracy of paychecks

demonstrate security of payroll

periodic reporting

22. Actions that control the staff in order to protect the company against fraud include all of the following except:

physical payouts

rotate assignemtns

segregate job duties

restrict system access

23. Which of the following statements is correct regarding section 125 plans?

employees working 10 hours a week or more must be included in the companys section 125 plan

any benefits received in cash are not taxed

at the end of the plan year, employees receive cash payments for amounts remaining

benefits can be changed during the plan year if there is a qualified change in status

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

when no income tax is withheld from regular wages for the current or preceding year

when the employee claims more than 10 dependents

when the employee doesnt complete a form W4

when the employee claims heads of household

25. An employee was sick the last week in december. his paycheck, dated dec 31, 2020 was held for him until he returned to work on Jan 6, 2021. these wages are taxable:

in 2020

in 2021

26. Under what conditions can an employee claim exemption from withholding on form W4?

receiving overtime pay

had no tax liability last year and expects no tax liability this year

anticipates receiving a bonus

an employee takes her first job

27. Which of the following plans can discriminate in favor of highly compensation employees?

section 125 plans

defined contribution plans

401k plans

nonqualified deferred compensation plans

28. If you need very rapid response time with minimal lag between input and output into your computer system, look for:

batch processing

remote entry processing

real time processing

network processing

29. All of the following issues are concerns of external auditors except:

safeguarding of the firms financial assets

risks to the companys financial well being

efficiency of payroll procedures

material misstatements of financial statements

30. Payroll documentation accomplishes all of the following EXCEPT:

provide uniformity

simplify training

ensure procedures are followed

provide a reference tool

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31. 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?

there is no change

the taxes paid by the employer are considered income to the employee

the amount of the fringe benefit is included in the employees income

there are no ss or medicare taxes on fringe benefits

32. All of the following deferred compensation plans limit the employee to making a deferral contribution of $19,500 in 2020 except:

401k

403b

457b

nonqualified

33. Which tax withholidng method uses the average earnings for one pay period to determine the withholding per pay period?

percentage method

quarterly averaging method

annualizing wage method

none of the above

34. 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?

her employer is allowed to reduce her cash wage to no less than $2.13 per hour

her base pay must be increase to $4.5 per hour after a 90 day training period.

she must be paid $5.12 per hour by her employer

her base salary must be raised to $3 per hour to comply with fed min wage requirements.

35. Which of the following employee benefits is nontaxable compensation?

company vehicle (personal use)

gifts, prizes awards

company vehicle (business use)

moving expense

36. What advantages does a payroll checking account provide?

prevents fraud

facilitates reconciliations

ensures that reconciliations are completed in a timely manner

ensures that checks are issued correctly

37. All of the following deductions are involuntary deductions EXCEPT:

wage assignment

tax levy

child support

creditor garnishment

38. For a payment after the employees death in the year AFTER the death, what taxes, if any, will be withheld?

federal income tax only

social security and medicare taxes only

federal income and social security and medicare taxes

no taxes will be withheld

39. Which plan is specifically set up for government employees?

401k plan

457b plan

403b plan

nonqualified deferred compensation plan

40. All of the following types of records can be combined with payroll data in an integrated system except:

personnel

benefits

purchasing

human resources

Fundamental Payroll Certification FPC-REMOTE Exam Dumps

Fundamental Payroll Certification FPC-REMOTE Exam Dumps

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